Accounting

Accounting is the language of business. It involves the recognition, measurement, recording, reporting and analysis of economic events that affect decision-making processes. It is the way that companies keep score of how successful they are, whether this is measured by profit or growth. Majoring in accounting at St. Mary's University allows you to be a decision maker in the business world.

Individuals who enjoy using analytical skills, making decisions, and explaining decision outcomes to others should consider the accounting major. Additionally, students who enjoy working with people, are challenged by continuous learning requirements, and have a strong commitment to career advancement may choose to pursue a professional accounting career path.

Accounting majors interview for business, finance or management positions. Other employment possibilities include external auditing, corporate tax and governmental accounting. Specialty areas include environmental accounting, assurance services, financial planning and forensic accounting. Other opportunities include:
  • Public accounting (CPA)
  • Personal financial planning
  • Tax consulting
  • Management consulting
  • Auditing and accounting for various local, state and federal government agencies

Accounting Course Descriptions

Table Style 1

The following courses are required of all Accounting majors:

  • AC 3310 Intermediate Accounting I
  • AC 3320 Intermediate Accounting II
  • AC 3331 Accounting Information Systems
  • AC 3341 Introductory Cost Accounting
  • AC 4330 Auditing
  • AC 4350 Personal Income Tax
  • Accounting Elective (AC 4375 Internship in Accounting is strongly recommended.)
  • AC 3350 Business Law
  • AC 4360 Business Tax
The following additional requirements apply:
Accounting majors who earn less than a grade of C in Introduction to Accounting I, Introduction to Accounting II, Intermediate Accounting I, and/or Intermediate Accounting II will be required to retake the course until a grade of C or better is earned. When the accounting course involved is a prerequisite course, a grade of C or better must be earned before the next course may be taken. Accounting majors must have a combined GPA of at least 2.5 in AC 2310 and AC 2320 before enrolling in AC 3310.

For CPA Examination candidates in the state of Texas only: For candidates desiring to sit for the CPA Examination in Texas, the Texas State Board of Public Accountancy requires successful completion of 150 semester hours of college level coursework. The degree requirements for a Bachelor of Business Administration in Accounting will not be sufficient to meet the educational requirements of the Board.

The degree requirements do, however, provide one of the basic requirements for admission to the Master of Business Administration, Professional Accountancy Track, in the Graduate School at St. Mary's University. The degree requirements of that program, in conjunction with the requirements for the Bachelor of Business Administration in Accounting described herein, are sufficient for accounting majors who desire to be educationally qualified to sit for the CPA Examination in the state of Texas. Students are therefore encouraged to review the requirements of the Master of Business Administration Professional Accountancy Track degree in the St. Mary's University Graduate Catalog.

A suggested program of study for the second two years of the Bachelor of Business Administration (B.B.A.) degree with a major in Accounting is shown below.

General (BA) Course

BA 3351 The Legal Environment of Business 3 sem. hours
Study of the legal and political framework in which business operates, including coverage of legal procedure, judicial, legislative, and administrative law with emphasis on ethics, employer/employee relations, consumer protection, securities regulation, anti-trust and environmental protection. (Fall; Spring)

Accounting (AC) Courses

AC 2310 Introduction to Accounting I (ACCT 2301) 3 sem. hours
This course introduces the basics of the financial accounting process to provide the student with an informed appreciation of the concepts, principles and practices that produce company financial statements. Prerequisite: MT 1305 or MT 1306 with a minimum grade of C.

AC 2320 Introduction to Accounting II (ACCT 2302) 3 sem. hours
This course is designed to improve basic understanding of corporate reporting, and the us of financial and other information for managerial decisions about planning, product and service pricing, and business expansion. (Fall; Spring) Prerequisite: AC 2310 with a minimum grade of C.

AC 3331 Accounting Information Systems 3 sem. hours
An in-depth study of the design and operation of accounting information systems in a computerized environment. Prerequisite: AC 2320 with a minimum grade of C.

AC 3341 Introductory Cost Accounting 3 sem. hours
Explores cost accounting as an information system that provides cost information for inventory valuation and income determination, for planning and controlling routine operations, and for facilitating decision making and long-range planning. Topics covered include techniques of estimating and allocating costs in the production of goods and services, job order and process costing, budgeting, standard costs analysis of variance, cost-volume-profit relationships and relevant costs and alternative choice decisions. Prerequisite: AC 2320 with a minimum grade of C.

AC 3350 Business Law 3 sem. hours
Study of the policy, rationale and legal concepts of contracts, sales, product liability, commercial paper and securities transactions with emphasis on the Uniform Commercial Code. (Spring) Prerequisite: BA 3351 with a minimum grade of C.

AC 3310 Intermediate Accounting I 4 sem. hours
Intermediate Accounting I helps students understand, prepare and use financial information. It promotes technical competency in the application of generally accepted accounting principles. (Fall; Spring)Prerequisites: AC 2310 and AC 2320 with a combined GPA of at least 2.5 in the two courses.

AC 3320 Intermediate Accounting II 4 sem. hours
Intermediate Accounting II continues the development of technical accounting skills that enable the student to thoroughly comprehend, prepare and analyze financial statements. (Fall;Spring) Prerequisite: AC3310 with a minimum grade of C.

AC 4100, 4200, 4300 Special Studies in Accounting 1-3 sem. hours
A study of selected topics in accounting. Specific subject indicated each time the course is offered. May be used as elective credit and repeated when specific subject changes. Prerequisite: Consent of instructor

AC 4306 Accounting for Governments and Not-for-Profits 3 sem. hours
A study of financial accounting concepts and practices for state and local governments and not-for-profit entities such as hospitals, educational institutions and voluntary health and welfare organizations. Prerequisite: AC 3310 with a minimum grade of C.

AC 4330 Auditing 3 sem. hours
Emphasizes the concepts associated with performing external audits and other attestation engagements in accordance with generally accepted auditing standards or other appropriate professional attestation standards. (Fall; Spring) Prerequisites : AC 3320, AC 3331 and BA 3351, all with a minimum grade of C.

AC 4350 Personal Income Tax 3 sem. hours
An examination of the source and application of U.S. tax authority as it relates to individual taxpayers. Various exclusions, deductions, credits and rates are analyzed and illustrated with a view towards tax determination. (Fall; Spring) Prerequisite: AC 2320 with a mnimum grade of C.

AC 4360 Business Income Tax 3 sem. hours
An examination of the source and application of U.S. tax authority as it relates to corporations (including S Corporations) and their shareholders, partnerships and their partners, and estates and trusts and their beneficiaries. (Fall; Spring) Prerequisite: AC 2320 with a minimum grade of C.

AC 4365 International Accounting and Taxation (same as IB 4365) 3 sem. hours
An examination of accounting principles and practices among countries and an overview of taxation of U.S. businesses operating internationally. Emphasis is placed on management decisions associated with accounting and taxation of companies operating in the international environment. (Fall) Prerequisite: AC 2320 with a minimum grade of C.

AC 4375 Internship in Accounting
The opportunity to gain accounting knowledge through experiential activities in professional life. Prerequisites: Consent of the associate dean, faculty supervisor, major advisor and department chairperson, minimum overall grade point average of 2.8 and completion of, with a C or better, AC 3310 prior to enrolling in any accounting internship. Pass/No Pass credit is given. (Fall; Spring; Summer)

Degree Plan

BA 1310 Fundamentals Or Non Business Elective 3 hours
Social Sciences 15 hours
  • EC 2301 - Theory of Macro-Economics (3)
  • EC 2303 - Theory of Micro-Economics (3)
One Course from (3):
  • PS 1301 - General Psychology
  • SC 1311 - Introduction to Sociology
One Course from (3):
  • American History, Political Science, Or Criminal Justice
  • BA 3325 W - Managing People and Organizations (Should be taken during the Junior or Senior years) (3)
English 12 hours
  • EN 1311 - Rhetoric and Composition (3)
  • Literature (Choose any two courses) (6)
  • EN 3000 - Advanced Composition (3)

Foreign Language 6 hours

  • Two Semesters of the same Language

Philosophy 9 hours

  • PL 1310 - Experience to Meaning (3)
  • PL 2332 - Philosophy of Morality (3)
  • Choose any Junior or Senior Philosophy course (3)
Mathematics 6 hours
  • MT 1305 - Finite Mathematics (3)
  • MT 1306 - Calculus for Business (3)
Science 6 hours
  • Choose any combination of two courses (6):
  • Biology, Chemistry, Earth Science, or Physics
Theology 6 hours
  • TH 2301 - Theological Foundations (3)
  • Choose 3000 Level only (3)
Fine Arts 3 hours
  • FA 1101, 1102, 1103 - Introduction to the Fine Arts (3)
Speech 3 hours
  • One Course from (3):
  • SE 2333 - Business and Professional Communication
  • SE 1341 - Fundamentals of Oral Communication

Common Body of Business Knowledge

General Business Minor)
  • AC 2310* Introductory Accounting I 3 hours
  • AC 2320* Introductory Accounting II 3 hours
  • BA 3351* Legal Environment of Business 3 hours
  • FN 3310* Corporate Finance 3 hours
  • IB 3321 W* U.S. Business In An Interdependent World 3 hours
  • MK 3310* Principles of Marketing 3 hours
  • QM 3320* Business Statistics 3 hours
  • AC3331* Accounting Information Systems 3 hours
  • QM 4330* Operations Management 3 hours
  • BA 4380* Business Policy 3 hours
  • BA4333 Business & Prof. Ethics 3 hours
Total: 33 hours

Major Courses

  • AC 3310* Intermediate Accounting I 3 hours
  • AC 3320* Intermediate Accounting II 3 hours
  • AC 3341* Introductory Cost Accounting 3 hours
  • AC 3350* Business Law 3 hours
  • AC 4330* Auditing 3 hours
  • AC 4350* Personal Income Tax 3 hours
  • AC 4360* Business Tax. 3 hours
  • Accounting Electives 3 hours
Total: 24 hours

Electives

Business Electives (3) 3 hours
  • AC 4375 Internship is strongly recommended
Total 129 hours
* Junior standing (completion of 60 semester hours) is a requirement for registration in all upper division (3000 or 4000 Level) Business courses.
For all Business majors, the 60 hours must include the following:
  • MT 1305 and Mt 1306 - Finite Math and Calculus for Business
  • AC 2310 and AC 2320 - Introductory Accounting I and II
  • EC 2301 and EC 2303 - Theory of Macro & Micro Economics

Faculty

Cory

Suzanne N. Cory, Ph.D.

Professor of Accounting
Phone: (210) 431-2040
Email: scory@stmarytx.edu

Full Bio Details
B.S., California State University, 1973
M.B.A., University of Nevada, 1977
Ph.D., University of Maryland, 1988 Suzanne N. Cory, Ph.D., has served as acting dean of the Bill Greehey School of Business, associate dean and M.B.A. program director. Prior to beginning her academic career, Cory was employed in public accounting. She has extensive academic experience with teaching specialities in financial and management accounting.

Her research interests include behavioral and gender issues in accounting and accounting education. Cory has authored articles in several journals including "The Journal of Accounting Education," "Journal of Business Ethics," "The CPA Journal, Strategic Finance," "Journal of Business Issues," "The Accounting Educator's Journal" and "The Review of Business." In addition to presenting scholarly papers at academic meetings, she is active in the American Accounting Association and is a member of the Texas Society of CPAs.

Kaciuba

Gail Kaciuba, Ph.D.

Jurica Professor of Accounting
Phone: (210) 431-6700
E-mail: gkaciuba@stmarytx.edu
Full Bio Details
B.A., Michigan State University, 1976
C.P.A., Michigan, 1979 (inactive)
M.B.A., University of Illinois at Chicago, 1983
Ph.D., Northwestern University, 1989
After working in public accounting for several years, Gail Kaciuba, Ph.D., began teaching accounting full time, and eventually attended Northwestern University to earn a Ph.D. in Managerial Economics and Decision Sciences. The mathematical economics Ph.D. couldn't keep her from teaching what she liked best – accounting. She has taught accounting at DePaul University in Chicago, University of Illinois at Chicago, Midwestern State University, and Texas Tech University.

Kaciuba wrote a study guide and created interactive power point presentations for classroom use that emphasize active learning concepts. She develops a great deal of her own teaching materials that emphasize, in addition to the technical knowledge of the course, core competencies included in the core competency framework. The assessment of these competencies is a frequent topic of Kaciuba’s presentations at academic conferences. During her tenure at DePaul University, Kaciuba was awarded the School of Accountancy’s Faculty Excellence Award.

Her research interests include game theoretic analyses of the oil and gas industry, improvements in accounting education, and activity-based costing in health care. Kaciuba was a member of a panel of experts before HCFA (the arm of Congress that administrated Medicare) to discuss improving the methodology used for computing reimbursements to physicians. She has spoken to numerous physicians’ associations and at the American Medical Association on this subject. Kaciuba’s academic articles have appeared in journals such as Journal of the American Taxation Association, Issues in Accounting Education, The Journal of Accounting Education, The Journal of Business Ethics, Journal of Accountancy and Healthcare Financial Management.

Thomas F. Madison, Ph.D.

Madison Associate Professor
Chair of Accounting Department

Phone: (210) 431-4393
Email: tmadison@stmarytx.edu
Full Bio Details
B.B.A., Angelo State University, 1989
M.B.A, Angelo State University, 1994
Ph.D., Texas Tech University, 1998
C.P.A.
C.M.A.
Tom Madison, Ph.D., joined the faculty of the Bill Greehey School of Business in 1998. His primary teaching interests are in managerial and financial accounting. Dr. Madison has taught both accounting and business administration programs in the BGSB Masters of Business Administration program. In addition, Dr. Madison has been a member of teaching teams with members of the St. Mary's graduate program in International Relations for immersion courses in economic development in Nicaragua and Bangladesh.

Dr. Madison has published articles in Advances in Management Accounting, The Financial Review, Journal of Entrepreneurship Education, the Journal of the Academy of Business Education, Oil & Gas Energy Quarterly, Review of Business, Issues in Information Systems, and The Journal of Volunteer Administration.

Dr. Madison is a member of the American Accounting Association, the American Institute of Public Accouintants, and the national Community Tax Coalition. Dr. Madison serves on the board of the Community Development Loan Fund and coordinates the St. Mary's University Volunteer Income Tax Assistance Program.

Dr. Madison was the 2003 Distinguished Faculty Member for the Bill Greehey School of Business and the 2009 recipient of the Community Service Award from St. Mary's University.

Suzanne Oliva, J.D.

Visiting Professor of Accounting
Phone: (210) 431-8091
E-mail: soliva1@stmarytx.edu
Full Bio Details
B.B.A., St. Mary’s University, 1987
J.D., St. Mary’s University School of Law, 1996
C.P.A.
Professor Oliva joined the faculty of the Greehey School of Business in 2003 and currently focuses her teaching and research interests in the areas of accounting, business ethics, legal ethics and the legal environment of business. She has also taught Property I, Property II, Insurance Law and Federal Income Taxation at St. Mary's University School of Law.

Prior to earning her doctorate, she was an auditor with the public accounting firm of Ernst & Whinney and an accountant with a local medical office. After graduation from law school, Oliva joined the law firm of Oliva, Saks, Garcia & Curiel, LLP and primarily concentrated her legal practice in the areas of wills, probate, estate planning, family law, and personal injury law. She is a board director of the Bexar County Women's Bar Association and Foundation and a member of the American Bar Association, the State Bar of Texas and the San Antonio Bar Association. She is admitted to practice law in the state of Texas, the Federal District Court of the Western District and the United States Supreme Court.

On a personal note, Oliva is an active member of St. Padre Pio Catholic Church and enjoys live theater, sporting events and world travel with her husband, Javier, and four sons.

Persellin

Mark B. Persellin, Ph.D.

Professor of Accounting
Phone: (210) 431-6717
Email: mpersellin@stmarytx.edu
Full Bio Details
B.S., University of Arizona, 1979
M.P.A., University of Texas at Austin, 1983
Ph.D., University of Houston, 1987
C.P.A.
C.F.P.
Mark B. Persellin, Ph.D., is a specialist in taxation and has made many contributions to the tax field. His articles have appeared in The Accounting Educators' Journal, The Tax Adviser, The CPA Journal, Journal of Taxation, Journal of Corporate Taxation, The Tax Executive and the Journal of American Taxation Association. He is also a contributing author in West Federal Taxation: Corporations, Partnerships, Estates & Trusts.

Prior to coming to St. Mary's University, Persellin worked for Peat Marwick and Mitchell, and he taught at Southwest Texas State University, Florida Atlantic University and the University of Houston.

Royalty

Kent W. Royalty, LL.M.

Emil C. E. Jurica Professor of Accounting
Phone: (210) 431-2037
Email: kroyalty@stmarytx.edu
Full Bio Details
B.B.A., Eastern Kentucky University, 1976
J.D., University of Kentucky, 1979
M.B.A., St. Cloud State University, 1986
LL.M., University of Houston, 1994
C.F.P., 1998

Kent W. Royalty, J.D., is past president of the Southwestern Region of the American Accounting Association and is active in numerous other professional associations. Professor Royalty primarily teaches in the areas of Taxation and Law. He has proviously taught at St. Cloud State University and Eastern Kentucky University. He has also practiced law in Kentucky.

He is an active researcher whose articles have appeared in Journal of Legal Tax Research, The International Journal of Volunteer Administration, Journal of Global Awareness, The International Trade Journal, The Electronic Hallway, The CPA Journal, Trial Lawyers Forum, Business and Tax Planning Quarterly, Business Law Review, Southern Business and Economic Review, Journal of Small Business Management, The Journal of Legal Studies Education, Accounting Perspectives, and Oil and Gas Quarterly.

Sedki

S. Sam Sedki, Ph.D.

Professor of Accounting
Phone: (210) 431-2032
Email: ssedki@stmarytx.edu
Full Bio Details
B.A., University of Baghdad, 1963
M.S., Kansas State University, 1968
Ph.D., University of Northern Colorado, 1973
C.P.A.
C.M.A.
S. Sam Sedki, Ph.D., joined the faculty of the Bill Greehey School of Business in 1981 as a professor of accounting; and he served as chairman of the accounting department for eight years. Sedki has held various national and regional offices within the American Accounting Association, twice serving as vice president and program chair. He has been vice president of the Administrators of Accounting Group and is one of the founders of the Management Accounting Section of the American Accounting Association.

He also chaired various committees of the Financial Executive's International, serving as treasurer of FEI (1995-96), secretary (1996-1997), vice president (1997-1998) and president (1998-99). Sedki, author of the Financial Accounting Study Guide, has published in national and regional referred journals and proceedings and is editor of the Journal of the Academy of Business Administration.

Co-recipient of the 1994 Douglass Award for Innovative Teaching, Sedki's teaching interest is in financial accounting.