Accounting

Accounting

Courses & Curriculum

The Department of Accounting seeks to prepare graduates with the skills that are necessary for success in the profession of accounting.  Accounting professionals are expected to be competent in accounting skills and well rounded in the various disciplines of business. They should also possess excellent communication and interpersonal skills.

The program emphasizes the role of accounting as a vital financial information system in all organizations. An accounting background is an outstanding background for any aspect of business. Many of our graduates have also gone on to graduate school in accounting and law.

The Accounting Information Systems major combines accounting and information technology to meet the technology demands of all sectors of business. AIS majors will find employment opportunities as information specialists in accounting firms, industry, government and nonprofit entities.

Accounting majors take courses in the various fields of accounting: financial accounting, cost and managerial accounting, tax accounting, auditing, accounting information systems and not-for-profit accounting. These courses are presented in a single balanced integrated concept.

Students completing the accounting program find positions in public accounting, industry, the financial sector, government and nonprofit entities. The positions held by accounting graduates include staff accountants, managers and partners in accounting firms; comptrollers, budget directors, internal auditors and chief financial officers in industry; financial analysts, loan officers, vice presidents and presidents of banks; IRS and FBI agents, CIA officers and tax administrators in the government.

The accounting curriculum is registered with the New York State Education Department and the 150 hour accounting programs qualify graduates to sit for the C.P.A. Examination. To become a licensed C.P.A., an accounting graduate should also meet the experience requirement of the State of New York. Students desiring to sit for the exam in other states should check with those states for their specific requirements. Detailed information on New York State certification may be obtained by writing to:

Public Accountancy Processing Unit
New York State Education Department
Division of Professional Licensing Services
Cultural Education Center
Albany, NY 12230

Graduates of the program may also seek other certifications, such as the C.M.A. (Certified Management Accountant) and the C.I.A. (Certified Internal Auditor) designations.

Experience Program

The Department of Accounting, with the Council on Accountancy, helps accounting majors who have completed their junior year to find employment during the summer months in public accounting firms, industrial firms, financial institutions and the government sector. This program is intended to provide eligible students with an opportunity to apply their academic preparation to the realities of the business world. No academic credit is granted for this program.

Accounting Scholarships

The Department of Accounting awards scholarships to qualified Accounting majors over and above financial aid and other scholarships made available through the Financial Aid Office. These scholarships are granted on the basis of academic merit and demonstrated need with preference given to the students in their fifth year.

Degree Programs

The Department of Accounting offers five degree programs:

  1. A 150 Hours Bachelors Degree in Professional Accounting which can be combined with a second major or as a stand-alone degree. This program is registered with the State of New York and qualifies a graduate to sit for the C.P.A. examination. This program usually takes 5 years but with proper planning could be completed in 4 1/2 years. AP credits may also reduce the time for completion.

  2. A 150-Hours Program leading to the degree of B.S. in Business Administration (major Accounting) at the end of four years of study and an M.B.A. in Accounting (M.B.A.A.) at the end of the fifth year. This program is designed to meet the new education requirements of the State of New York for candidates who wish to sit for the C.P.A. Exam after August 1, 2009. Graduates of this program will have to complete only one year of experience (instead of two years) for licensing by the State of New York upon passing the C.P.A. examination. AP credits may also reduce the time for completion.

  3. A Four-Year Undergraduate Program leading to the degree of B.S. in Accounting Information Systems.
    Graduates of this program are eligible for a number of certifications such as Certified Computing Professional (C.C.P.) and Certified Information Systems Auditor (C.I.S.A.). After August 1, 2009, candidates sitting for the C.P.A. examination will have to complete the accounting requirements of one of the 150-Hours Programs.

  4. A Four-Year Undergraduate Program leading to the degree of B.S. in Business Administration (major Accounting). Graduates of this program are generally not eligible to sit for the CPA exam after August 1, 2009 when 150 hours will be required to be eligible to sit for the exam.

  5. An M.B.A. in Professional Accounting to holders of undergraduate or graduate degrees in fields other than accounting. This program is designed to meet the new education requirements of the State of New York for candidates who wish to sit for the C.P.A. Exam after August 1, 2009. This program is described in the Graduate Catalog.

The curriculum requirements of the Undergraduate Programs in Accounting, the Undergraduate Program in Accounting Information Systems, and the B.A./M.B.A.A. Program are summarized in the table below.

Flexibility

The accounting curriculum is designed to allow maximum flexibility and exposure before students must decide on the appropriate accounting program to pursue. A student does not have to make a decision as to which accounting program to pursue until the junior year.

In order to provide flexibility in making the decision, all undergraduate accounting majors follow the same curriculum in the first five semesters of study. Students choosing to major in Accounting Information Systems start taking a different course of study in their junior year, while students in the other programs will start taking different courses of study in the senior year. The B.S./M.B.A.A. students will start taking M.B.A. courses in their senior year.

Undergraduate Program Admission

Admission to the undergraduate accounting programs is predicated upon admission to the Richard J. Wehle School of business. The maintenance of an overall G.P.A. of 2.00 at the end of the sophomore year is required for enrollment in the junior year. Transfer students are required to have achieved an overall G.P.A. of 2.00 at all previous institutions attended.

Admission to the M.B.A. program is based on the following criteria:

  1. a minimum cumulative average of 2.75 in all accounting courses taken at Canisius, including all junior accounting courses; 
  2. a minimum cumulative overall average of 3.0 by the second semester of the junior year; 
  3. a minimum score of 500 on the GMAT. Applicants should plan to take the GMAT at the earliest opportunity during their junior year.
    For additional information, refer to the Graduate Catalog or contact the Director of Graduate Accounting programs.

Note: All programs are subject to change to meet State standards.

Common Business and Liberal Arts Courses

Core Curriculum:
Go to the Core Curriculum requirements. All students complete these requirements as part of their overall Canisius education.

Common body of business knowledge:      
Mat 105 Finite Mathematics   3 credits
AND    
MAT 106 Calculus for the Non-Sciences   3 credits
OR    
MAT 111 Calculus I   3 credits
OR    
MAT 115 Calculus for Business I   3 credits
Arts and Sciences Electives   3 credits
ENG 389 Business Communications   3 credits
ACC 211 Principles of Accounting I   3 credits
ACC 212 Principles of Accounting II   3 credits
ECO 101 Principles of Macroeconomics   3 credits
ECO 102 Principles of Microeconomics   3 credits
ECO 255 Business Statistics I    3 credits
ECO 256 Business Statistics II   3 credits
FIN 201 Introduction to Finance   3 credits
ISB 101 Management Technology   3 credits
MGT 101 Introduction to Management   3 credits
MGT 325 Operations Analysis for Business   3 credits
MGT 446 Managerial Policy Strategy   3 credits
MKT 201 Principles of Marketing   3 credits
Business International Requirement   6 credits

Accounting and Accounting Information Systems Programs

150 Hours - B.S. in Professional Accounting

Course Requirements: In addition to the common liberal arts and business courses, students in this program will take:

ACC 301-302 Intermediate Accounting I and II    6 credits
ACC 303 Cost Accounting   3 credits
ACC 307 Management and Accounting Information Systems   3 credits
ACC 415 Basic Taxation   3 credits
ACC 421 Advanced Accounting Problems   3 credits
ACC 426 Information Systems Auditing   3 credits
ACC 451 Seminar in Accounting Theory   3 credits
LAW 371 Business and Commercial Law   3 credits
LAW 372 Business Organizations and Commercial Paper   3 credits 
Accounting Electives   6 credits
Business Elective   3 credits
Free Electives   18 credits
Total 150 or 151 Credits

Typical Schedule

Fall     Spring  
Freshman Year        
FYS 101
MAT 105 or
MAT 111 or MAT 115
ECO 101 Field of
Knowledge Social Science
ISB 101
Business International Requirement
3 credits
3 or 4 credits

3 credits
3 credits
3 credits
  ENG 101
RST 101 
MAT 106 or Elective
ECO 102
Business International Requirement
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 or 16 credits     Total 15 credits 
         
Sophomore Year        
MGT 101
ACC 211
ECO 255 Field of
 Knowledge (Math)
MKT 201
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
  PHI 101
ACC 212
ECO 256
ACC 307
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits
         
Junior Year        
ACC 301
ACC 303
FIN 201
Field of Knowledge
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
  ACC 302
ENG 389
Capstone
Field of Know.
A&S Elective

3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits
         
Senior Year        
MGT 325
ACC 421
ACC 451
Business Elective**
A&S Elective
3 credits
3 credits
3 credits
3 credits
3 credits
  ACC Elective*
MGT 446
A&S Elective
Elective
Elective
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits
         
Fifth Year        
ACC 415 
ACC 426
Law 371
Elective
Elective
3 credits
3 credits
3 credits
3 credits
3 credits
  ACC Elective*
Elective
Law 372
Elective
Elective
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits

*Acc 416 and 425 recommended for CPA preparation
**Acc 331 or 452 recommended

Requirements for Graduation:

To qualify for graduation with a B.S. degree in business administration with a major in Accounting, a candidate must complete all the graduation requirements outlined in this catalog and must have a cumulative average of 2.0 for all of the accounting and business law courses taken at Canisius College.



150 Hours - B.S./M.B.A.A.

Course Requirements

In addition to the common liberal arts and business courses, students in this program will take:

ACC 301-302 Intermediate Accounting I and II   6 credits
ACC 303 Cost Accounting   3 credits
ACC 307 Management and Accounting Information Systems   3 credits
LAW 371 Business and Commercial Law   3 credits
LAW 372 Business Organizations and Commercial Paper   3 credit


Graduate Portion

MBA 502 Organizational Behavior   3 credits
MBA 507 Operations    3 credits
MBA 508 Corporate Finance   3 credits
MBA 620/621 Finance Elective   3 credits
MBA 630 Marketing    3 credits
MBA 641 Human Resources    3 credits
MBA 690 Strategic Management   3 credits
MBA 672 Advanced Commercial Law   3 credits
MBA 715 Basic Taxation   3 credits
MBA 716 Advanced Tax   3 credits
MBA 721 Advanced Financial Reporting   3 credits
MBA 725 Auditing Theory and Practice   3 credits
MBA 726 Advanced Auditing   3 credits
MBA 729 Not for Profit Accounting   3 credits
MBA 751 Accounting Theory and Research   3 credits
MBA Elective        3 credits
Total 150 or 151 Credits  

NOTE: Students do not take MGT 325 or 446

Typical Schedule:

Fall     Spring  
Freshman Year        
FYS 101
MAT 105 or
MAT 111 or MAT 115
ECO 101 Field of
Knowledge Social Science
ISB 101
Business International Requirement
3 credits
3 or 4 credits

3 credits
3 credits
3 credits
  ENG 101
RST 101 
MAT 106 or Elective
ECO 102
Business International Requirement
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 or 16 credits     Total 15 credits 
         
Sophomore Year        
MGT 101
ACC 211
ECO 255
MKT 201
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
  PHI 101
ACC 212
ECO 256 (Stat)
ACC 307
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits
         
Junior Year        
ACC 301
ACC 303
FIN 201
Field of Knowledge
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
  ACC 302
ENG 389
Capstone
Field of Know.
A&S Elective
A&S Elective
3 credits
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 18 credits
         
Senior Year        
MBA 715
MBA 721
MBA 751
LAW 371
A&S Elective
3 credits
3 credits
3 credits
3 credits
3 credits
  MBA 716
MBA 725
MBA 507
MBA 690
LAW 372
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits
         
Fifth Year        
MBA 672
MBA 726
MBA 502
MBA 508
MBA 630
3 credits
3 credits
3 credits
3 credits
3 credits
  MBA 620/621
MBA 641
MBA 729
MBA elective
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 12 credits
Total 150 or 151 Credits 

Requirements for Graduation

To qualify for graduation with a B.S. degree in Accounting Information Systems, a candidate must complete all the graduation requirements outlined in this catalog and must have a cumulative average of 2.0 in all accounting courses taken at Canisius College.


 
120 hours - B.S. in Accounting Information Systems  

Course Requirements:

In addition to the common liberal arts and business courses, students in this program will take:

ACC 301 Intermediate Accounting I   3 credits
ACC 303 Cost Accounting   3 credits
ACC 307 Management and Accounting Information Systems   3 credits
ACC 331 E-Business   3 credits
ACC 340 Database Management   3 credits
ACC 426 Information Systems Auditing   3 credits
ACC 452 Enterprise Systems   3 credits
MGT 370 Managerial Environment   3 credits
Free Electives   6-9 credits
Total 120-121 credits

Typical Schedule

Fall     Spring  
Freshman Year        
FYS 101
MAT 105 or
MAT 111 or MAT 115
ECO 101 Field of
Knowledge Social Science
ISB 101
Business International Requirement
3 credits
3 or 4 credits

3 credits
3 credits
3 credits
  ENG 101
RST 101 
MAT 106 or Elective
ECO 102
Business International Requirement
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 or 16 credits     Total 15 credits 
         
Sophomore Year        
MGT 101
ACC 211
ECO 255 Field of
 Knowledge (Math)
MKT 201
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
  PHI 101
ACC 212
ECO 256
ACC 307
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits
         
Junior Year        
ACC 301
ACC 303
FIN 201
Field of Knowledge
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
  ACC 331
ENG 389
Capstone
Field of Know.
A&S Elective
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits
         
Senior Year        
ISB 340
ACC 426
MGT 325
MGT 370
A&S Elective
3 credits
3 credits
3 credits
3 credits
3 credits
  ACC 452
MGT 446
Free Elective
Free Elective
A&S Elective
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits
         
Total  120-121 credits


Requirements for Graduation

To qualify for graduation with a B.S. degree in Accounting Information Systems, a candidate must complete all the graduation requirements outlined in this catalog and must have a cumulative average of 2.0 in all accounting courses taken at Canisius College.



120 Hours - B.S. in Accounting

Course Requirements

In addition to the common liberal arts and business courses, students in this program will take:

ACC 301-302 Intermediate Accounting I and II   6 credits
ACC 303 Cost Accounting   3 credits
ACC 307 Management and Accounting Information Systems   3 credits
ACC 415  Basic Taxation   3 credits
ACC Electives  Elective courses in accounting   3 credits
LAW 371 Business and Commercial Law   3 credits
LAW 372 Business Organizations and Commercial Paper   3 credits
Free Electives   3-6 credits
Total  120-121 credits  


Typical Schedule

Fall     Spring  
Freshman Year        
FYS 101
MAT 105 or
MAT 111 or MAT 115
ECO 101 Field of
Knowledge Social Science
ISB 101
Business International Requirement
3 credits
3 or 4 credits

3 credits
3 credits
3 credits
  ENG 101
RST 101 
MAT 106 or Elective
ECO 102
Business International Requirement
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 or 16 credits     Total 15 credits 
         
Sophomore Year        
MGT 101
ACC 211
ECO 255 Field of
 Knowledge (Math)
MKT 201
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
  PHI 101
ACC 212
ECO 256
ACC 307
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits
         
Junior Year        
ACC 301
ACC 303
FIN 201
Field of Knowledge
Field of Knowledge
3 credits
3 credits
3 credits
3 credits
3 credits
  ACC 331
ENG 389
Capstone
Field of Know.
A&S Elective
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits
         
Senior Year        
ACC 415
ACC elective
A&S Elective
A&S Elective
LAW 371
3 credits
3 credits
3 credits
3 credits
3 credits
  ACC elective
LAW372
MGT 325
MGT 446
Elective
3 credits
3 credits
3 credits
3 credits
3 credits
Total 15 credits   Total 15 credits
         
Total  120-121 credits


Requirements for Graduation

To qualify for graduation with a B.S. degree in business administration with a major in Accounting, a candidate must complete all the graduation requirements outlined in this catalog and must have a cumulative average of 2.0 for all of the accounting and business law courses taken at Canisius College.


Courses

ACC 201 Financial Accounting  3 credits
Introduction to accounting concepts for external financial reporting. Accounting theories and principles relative to asset and liability valuations, and income determination. Spring & Fall

ACC 202 Managerial Accounting 3 credits
Introduction to accounting concepts for internal reporting and control. Cash budgeting, decision making, capital budgeting, tax aspects of managerial planning and performance evaluation. Prerequisite ACC201 Spring & Fall

ACC 211-212 Principles of Accounting I and II                   6 credits
Fundamental concepts and procedures of financial and managerial accounting with emphasis on asset and liability valuations, income determination and cash flows. Accounting applications of present value concepts, introduction to budgeting and product costing. For Accounting majors. ACC 211 Spring & Fall, ACC 212 Spring

ACC 301-302 Intermediate Accounting I and II                  6 credits
In-depth accounting concepts and theories pertaining to external financial reporting. Emphasis on theories surrounding asset valuations, liabilities, income determination and cash flows. Prerequisites: ACC 211-212, junior standing and overall G.P.A. of 2.0. ACC 301 Spring & Fall, ACC 302 Spring

ACC 303 Cost Accounting      3 credits
Preparation and analysis of data utilized by management in planning and control decisions. Inventory valuation and reporting methods. Establishment and use of standards and budgets. Prerequisites: ACC 211-212, junior standing and overall G.P.A. of 2.0. Spring & Fall

ACC 307 Management and Accounting Information Systems      3 credits
Development, organization, and implementation of accounting and management information systems. Emphasis on systems controls, processing cycles, and systems development life cycle. Prerequisites: ACC211 and ISB 101. Spring & Fall

ACC 331 E-Business   3 credits
Challenges and strategies in electronic mediated business such as; electronic business relationships; electronic payment systems; virtual supply chains; product development strategies; legal security and privacy issues. Evaluation and construction of electronic business web sites through case studies and projects. Prerequisites: ACC 307 or concurrent registration. Spring

ACC 340 (ISB 340) Database Management    3 credits
Design and use of database management systems through host languages and user query languages. Data structures; database design; database access methods; alternate data models; database administration. Prerequisites: ACC 307 and ISB 101. Fall

ACC 415 Basic Taxation    3 credits
Provisions of Internal revenue Code affecting individuals and corporations; tax factors in planning and decision making; social, political and economic considerations underlying tax laws. There will be an emphasis on learning research and communications skills. Students will learn to prepare various business and accounting correspondence including, reports, memorandums, client and engagement letters. Prerequisite: ACC 212. Fall

ACC 416 Advanced Tax                        3 credits
Internal Revenue Code provisions relating to taxation of corporations and shareholders; partnerships and partners including organization, reorganization, distribution and liquidation. Emphasis on Sub-Chapters “C,” “S” and “K.” Course includes learning oral and written presentations skills and techniques. Prerequisite: ACC 415. Spring

ACC 421 Advanced Accounting Problems                 3 credits
Problem-solving techniques relative to mergers and consolidations; organization and liquidation of partnerships; introduction to fiduciary accounting for receivers, trusts and estates. Prerequisite: ACC 302. Fall

ACC 425 Auditing Theory and Practice      3 credits
Generally accepted auditing standards, internal control, professional liability of auditors, ethics of the profession, statistical sampling and the auditor’s report. Prerequisite: ACC 302. Spring

ACC 426 Information Systems Auditing     3 credits
Information system control design and auditing in the internet, electronic and paperless environment; management of security technology; operating and application system processing controls; prevention of unauthorized activity. Prerequisites: ACC 307 and ACC331 or ACC452 or ACC425. Fall

ACC441 Fraud Examination: Detection and Deterrence    3 credits
The course will concentrate on financial fraud, white-collar crime, how financial fraud is perpetrated, approaches to fraud investigations and documentation, and fraud detection and prevention.   Ethical issues in fraud examination and investigation will be covered as well as strategies and tools for fraud deterrence in organizations. Prerequisites: ACC 301/302, ACC 425 or ACC 426. Fall

ACC 429 Not For Profit        3 credits
Accounting and reporting issues that apply to governmental units, hospitals, schools, religious institutions and other non-profit organizations; budgetary procedures including appropriations and encumbrances. Spring

ACC 451 Accounting Theory and Research                           3 credits
Standard setting procedures at the US and international levels, accounting concepts and principles, contemporary accounting issues, concepts of income determination, extensive database research to support or oppose accounting positions and library research culminating in a research paper or class presentation. The course will also provide instruction in business/accounting written and oral communication. Prerequisite: ACC 302. Fall

ACC 452 Enterprise Systems     3 credits
Measuring the value of enterprise information; enterprise resource planning (ERP) system design and functionality; international accounting systems issues; data integrity; use of financial and non-financial information for corporate decision-making. Prerequisite: ACC307 Spring

ACC 499 Independent Research in Accounting                      3 credits
Undertaking of a significant piece of independent research. By appointment with chairperson. Spring & Fall

LAW 371 Business and Commercial Law                                3 credits
American legal system and substantive law of contracts, agency, bailments, sales, products liability. Uniform Commercial Code and cases. Prerequisite: ACC 212 or permission of instructor. Fall

LAW 372 Business Organizations and Commercial Paper     3 credits
Legal aspects of partnerships and corporations; advantages and disadvantages of each, together with commercial paper under Uniform Commercial Code; trade regulation; bankruptcy. Prerequisite: LAW 371. Spring

LAW 472 Advanced Commercial Law                        3 credits
Foreign Corrupt Practices Act of 1977, secured transactions, accountant liability, real property, trusts and estates, and insurance. Prerequisite: LAW 372. Fall