Accounting Download PDF Version

Academic Year

2012-2013

School

Bill Greehey School of Business School Web site

School Dean

Tanuja Singh, D.B.A. tsingh@stmarytx.edu

Department

Accounting

Department Chair

Thomas F. Madison, Ph.D., CPA tmadison@stmarytx.edu

Description of Program/Major

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 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 accounting. Specialty areas include environmental accounting, assurance services, financial planning and forensic accounting.

Degree Requirements

Core Curriculum (SMC)
St. Mary's University Core (30 Hours)
All St. Mary's Core SMC13## "Reflection" courses must be completed before registering for SMC23## "Practice" courses. "Reflection" courses can be taken in any order followed by "Practice" courses in any order.
SMC 1301Foundations of Civilization3
SMC 1311Foundations of Reflection: Self (Formerly PL 1310)3
SMC 1312Foundations of Reflection: Nature3
SMC 1313Foundations of Reflection: Others3
SMC 1314Foundations of Reflection: God (Formerly TH 2301)3
SMC 2301Foundations of Practice: Ethics (Formerly PL 2332)3
SMC 2302Foundations of Practice: Civic Engagement and Social Action3
SMC 2303Foundations of Practice: Fine Arts and Creative Process (Formerly FA 1101, FA 1102, FA 1103)3
SMC 2304Foundations of Practice: Literature3
SMC 4301Capstone Seminar: Prospects for Community and Civilization3

School Specific Core (SSC)
Bill Greehey School of Business School Specific Core (21 Hours)

Social SciencesEC 2301, EC 23026
Composition and Rhetoric
(grade of "C" or better)
EN 1311, EN 1313 (for international students)3
Literature EN 23XX3
Mathematics MT 1305 Finite Math3
TheologyAdvanced Theology 33XX3
SpeechMN 3320 Business Communications3

Bill Greehey School of Business School Common Body of Business Knowledge (42 Hours)

AC 2310Introduction to Accounting I3
AC 2320Introduction to Accounting II3
AC 3331*Accounting Information Systems3
BA 1310Fundamentals of Business Enterprise3
BA 3351*Legal Environment of Business3
BA 4334*Business Ethics3
BA 4380*Business Policy and Strategy3
FN 3310*Corporate Finance3
IB 3321*US Business in Interdependent World3
MT 1306Calculus for Business3
MK 3310*Principles of Marketing3
MN 3330*Organizational Behavior3
QM 3320*Business Statistics3
QM 4330*Operations Management3
*Junior Standing

Four Year Degree Plan

Department Courses and Descriptions

Department Courses and Descriptions
AC 2310 Introduction to Accounting I (3)
This course introduces the basics of the financial accounting process to provide the student with an informed appreciation of the concepts principles, and practices which produce company financial statements. (Fall; Spring) Prerequesite: MT 1305 or MT 1306 with a grade of at least "C".

AC 2320 Introduction to Accounting II (3)
This course is designed to improve basic understanding of corporate reporting, and the use of financial and other information for managerial decisions abouth planning, product and service pricing, and business expansion. (Fall; Spring) Prerequisite: AC 2310 with a grade of at least "C".

AC 3310 Intermediate Accounting I (3)
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) Prerequisite: AC 2310 and 2320 with a combined GPA of at least 2.75 in these two courses.

AC 3320 Intermediate Accounting II (3)
Intermediate Accounting II continues the development of technical accounting skills which enable the student to thoroughly comprehend, prepare, and analyze financial statements. (Fall; Spring) Prerequisiste: AC 3310 with a minimum grade of "C".

AC 3331 Accounting Information Systems (3)
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 Intro Cost Accounting (3)
Explores cost accounting as an information system that provides cost information for inventory valuation and income determination, for planning and controlling operations, and for facilitating decision making and long-range planning. Prerequisite: AC 2320 with a minimum grade of "C".

AC 3350 Business Law (3)
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. Prerequisite: AC 2320 and BA 3351 with a minimum grade of "C".

AC 4100 Special Studies in Accounting (1)
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 4200 Special Studies in Accounting (2)
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 4300 Special Studies in Accounting (3)
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 Government & Not-for-Profits (3)
A study of financial accounting concepts and practices for not-for-profit entities such as governmental units, hospitals, educational institutions and voluntary health and welfare organizations. Prerequisite: AC 3310 with a minimum grade of "C". (Fall only)

AC 4330 Auditing (3)
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 4344 Corporate Accounting & Governance (3)
The course covers the basics of corporate governance, including the structure of a corporation,board and audit committee requirements, relevant financial statement reporting requirements, the effect of Sarbanes-Oxley Act on governance, the role of the board in takeover situations, management compensation issues, corporate governance in other countries, the legal framework of the SEC, and the preparation of SEC required forms for publicly traded companies. Prerequisites: AC 3320 with a minimum grade of "C". This course fulfills the Texas Board of Public Accounting requirement for one hour of research and one hour of communication. (Spring only).

AC 4350 Personal Income Tax (3)
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 minimum grade of "C".

AC 4355 Research in Federal Taxation (3)
A study of the tax materials availalble and their use in tax research, including the Internal Revenue Code, tax services, case reporters, and treasury publications. Emphasizes understanding and solving tax issues of current importance and the communication of such information. Prerequisites: AC4350 or AC4360, or equivalent. This course fulfills the Texas Board of Public Accounting requirement for one hour of research and one hour of communication. (Spring only)

AC 4360 Business Income Tax (3)
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. Prerequisite: AC 2320 with a minimum grade of "C".

AC 4365 International Account& Taxatio (3)
An examination of accounting principles and practices among countries and an overview of taxation of US businesses operating internationally. Emphasis is placed on management decisions associated with accounting and taxation of companies operating in the international environment. Prerequisite: AC 2320 with a minimum grade of "C".

AC 4375 Internship in Accounting (3)
The opportunity to gain knowledge through experiential activities in professional life. Prerequisites: A minimum grade point average of 2.8, and completion of, with a grade of "C" or better, AC 3310 prior to enrolling in any accounting internship*. Pass/No Pass credit is given. (Fall; Spring; Summer) *Requires approval of departmental chair and associate dean.

AC 5306 Accounting for Government & Not-for-Profits (3)
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. Activities include study of theory, research on practices, as well as in depth analysis of financial statements of actual organizations, including the City of San Antonio. This course also emphasizes related current issues and the developing nature of accounting for these entities. Prerequisite: AC 3310 with a minimum grade of "C". (Fall only)

AC 5344 Corporate Accounting & Governance (3)
This course covers the basics of corporate governance, including the structure of a corporation, board and audit committee requirements, relevant financial statement reporting requirements, the effect of the Sarbanes-Oxley Act on governance, the role of the board in takeover situations, management compensation issues, corporate governance in other countries, the legal framework of the SEC, and the preparation of SEC required forms for publicly traded companies. Students admitted to the MBA program can enroll in this course for graduate credit if they did not previously receive credit for AC 4344 (or the equivalent) as an undergraduate. This course fulfills the Texas Board of Public Accounting requirement for one hour of research and one hour of communication.

AC 5375 Accounting Internship (3)
The accounting internship provides students with an opportunity to gain knowledge and experience through hands-on experiential activities. It represents cooperation among the University and business, public and government institutions in monitoring and gaining experience that supplements the learning process. Prerequisites: Completion of all undergraduate accounting prerequisites (AC 2310, AC 2320, AC 3310, AC 3320, AC 3331 or QM 3330, AC 3341, AC 3350, AC 4330, AC 4350, AC 4360, BA 4333), minimum GPA in graduate-level courses of 3.0, consent of the Chairperson of the Accounting Department and the MBA Program Director.

Department Faculty

Accounting Faculty Website

Department Website

Accounting Website