Accounting Degree

Interested in an accounting degree?  Diverse entities like Facebook, the Pizza Shack, Graceland University and the State of Iowa all need accounting information. Career opportunities at for-profit, not-for-profit and governmental entities are available to you with a major in accounting. 

With a Graceland accounting degree, in addition to your liberal arts core, you will learn skills necessary for financial reporting, decision making and planning. Your well-rounded education will place all this within an ethical and international context.

Graceland accounting degree graduates are working at Cerner Corporation, Principal Financial, Goldman Sachs, Hormel Foods, Deloitte and Touche, Outreach International, the State of Iowa and many smaller organizations.

The C.H. Sandage School of Business offers a Bachelor of Arts program with a major in accounting on Graceland's Lamoni campus. Graceland is the site of The Sandage Center for the Study of Free Enterprise and Entrepreneurship, which sponsors Graceland’s nationally recognized Enactus program. Scholarships are available annually for students who demonstrate entrepreneurial spirit.

BA Degree - Accounting Major

In addition to the essential education requirements, majors in Accounting must complete a concentration of 37 semester hours in Accounting, Business, Economics, and Information Technology, including:

  • ACCT2310 Financial Accounting 3 s.h.
  • ACCT2320 Managerial Accounting 3 s.h.
  • ACCT3310 Tax Accounting 3 s.h.
  • ACCT3360 Intermediate Accounting I 3 s.h.
  • ACCT3400 Cost Accounting for Managerial Control and Strategic Planning 3 s.h.
  • ACCT3460 Intermediate Accounting II 3 s.h.
  • ACCT4100 Auditing Concepts and Applications: A Risk Analysis Approach 3 s.h.
  • BUAD3340 Business Law 3 s.h.
  • BUAD3380 Principles of Business Finance 3 s.h.
  • ECON1300 Principles of Macroeconomics 3 s.h.
  • ECON1320 Principles of Microeconomics 3 s.h.
  • CSIT3500 Management of Information Systems 3 s.h.

One of the following: ACCT3320 or ACCT4120, or faculty approved employment in an accounting-related position. 1 s.h.

An Accounting major must also complete:

Students planning to sit for the CPA exam will need additional hours. Accounting majors are encouraged to also complete the Business Administration major.

 

Accounting Minor

A minor in Accounting consists of 18 semester hours or more in Accounting including: ACCT2310, ACCT2320, and ACCT3360.

Courses for Accounting Degrees

ACCT2000 Individual Study 1-3 s.h.

ACCT2310 Financial Accounting 3 s.h.
An introduction to the study of accounting dealing with the preparation and analysis of the balance sheet, income statement, and related accounting records. Prerequisites: One MATH course.

ACCT2320 Managerial Accounting 3 s.h.
The selection and analysis of accounting information for internal use by management. Prerequisite: ACCT2310 and either BUAD1420 or MATH1510.

ACCT3000 Individual Study 1-3 s.h.

+ ACCT3200 Governmental and Nonprofit Accounting 3 s.h.
A study of accounting and financial reporting principles for state and local governments, hospitals, colleges and universities, and other nonprofit entities. Prerequisite: ACCT2310 Financial Accounting.

ACCT3310 Tax Accounting 3 s.h.
A study of federal income tax provisions relating to individuals, corporations, and partnerships.

ACCT3320 VITA: Volunteer Income Tax Assistance 1 s.h.
Students will be trained to provide free tax assistance to non-resident alien students who may desire assistance with their U.S. tax forms. Tax preparation workshops are held. May be repeated once for credit. Prerequisite: ACCT3310

ACCT3360 Intermediate Accounting I 3 s.h.
Accounting theory and practice applicable to determination of asset values and related problems of income determination. Prerequisites: ACCT2320.

+ACCT3400 Cost Accounting for Managerial Control and Strategic Planning 3 s.h.
Development of cost accumulation and reporting systems for a firm's strategy and structure with an emphasis on integrating cost information into the firms strategic plan. Prerequisite: ACCT2320 and MATH1380.

+ACCT3460 Intermediate Accounting II 3 s.h.
Accounting theory and practice applicable to liabilities and owner’s equity, special problem areas related to income determination and financial reporting, and international transactions. Prerequisite: ACCT3360.

ACCT3900 Topics in Accounting 1-3 s.h.
Study of selected topics from areas in accounting such as governmental accounting and advanced tax. Topics are announced prior to each semester they are offered. May be repeated for credit when the topics vary.

ACCT4000 Individual Study 1-3 s.h.

ACCT4100 Auditing 3 s.h.
An introduction to the study of auditing principles and standards. Provides a working knowledge of auditing procedures. Prerequisite: ACCT3360.

ACCT4120 Internship in Accounting 1-3 s.h.
An internship that allows students to work with accountants. The student will play an active role in identifying potential field sponsors. Repeatable to a maximum of 12 hours. Prerequisite: Instructor’s consent. (Graded on a Pass/Fail basis).

+ACCT4360 Advanced Accounting 3 s.h.
A study of topics including partnership, corporate liquidation, foreign currency transactions, business combinations and stock investments. Prerequisite: ACCT3360.

BUAD1420 Math for Decision Making 3 s.h.
A beginning course in finite mathematics and calculus for students in business, economics, management, and the social and life sciences. Prerequisites: Two years of high school algebra.

BUAD3340 Business Law 3 s.h.
Study of legal rules governing the usual business transactions and relations. Consideration of selected cases in areas such as contracts, agency, sales, negotiable instruments, private property, and bankruptcy. Prerequisite: Junior standing or above.

BUAD3380 Principles of Business Finance 3 s.h.
A study of principles and problems basic to a business firm’s decisions in planning for and managing financial resources for the purpose of maximizing the value of these resources. Prerequisites: ACCT2320, ECON1320, and MATH1380.

CSIT3500 Management of Information Systems 3 s.h.
Study of the fundamentals of information technology and how they support and interact with business organizations. Emphasis is on building a broad, basic technology framework. Prerequisite: CSIT1010 or CSIT1040 or CSIT1100.

ECON1300 Principles of Macroeconomics 3 s.h.
Analysis of the fundamental principles of the American economic system, centering on price, national income, international trade and finance, fiscal policy, monetary policy, money, and banking. Prerequisite: 1 year high school algebra; geometry recommended. Goal 1C, ELO5 Social Science - World Citizenship

ECON1320 Principles of Microeconomics 3 s.h.
Analysis of the fundamental principles of the American economic system, centering on price, production, market structures, and a survey of contemporary economic problems, e.g. sustainability. Goal 1C, ELO5 Social Science - Sustainability

MATH1380 Introduction to Statistics 3 s.h.
Data analysis and measures of central tendency, dispersion, and correlation. Introduction to probability. Estimation and hypothesis testing. Bivariate regression. Elementary ANOVA. Introduction to nonparametric techniques. Prerequisite: 1 year high school algebra. Goal 3A, ELO6 Math

MATH1510 Calculus I 3 s.h.
Limits, continuity, derivative, mean-value theorem, simple integration, fundamental theorem of calculus. Prerequisite: 2 years high school algebra. Goal 3A, ELO6 Math

+ Denotes an alternate year course.