Incoming Graceland students for Fall 2022 –

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Accounting

Bachelor of Art Degree

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Learn more about our program...

An ACCOUNTING major from Graceland provides students with the skills necessary for a successful career in many different financial fields. Students are able to learn in a collaborative environment where they practice teamwork and communication skills, which are critical for success in many different areas. Students find themselves well-prepared to sit for CPA and CMA exams and are well-equipped for success as accountants in public, private or governmental agencies.

Accounting students receive experiential learning through student leadership, internships and networking with professionals in the industry, paired with coursework that integrates data-driven analysis and decision making throughout the curriculum. Students develop an accounting skillset grounded in Graceland’s liberal arts education, creating well-rounded professionals who are able to think critically about issues they face.

Offerings
Major, Minor
Field of Study
Business
Format
Lamoni Campus
Student Testimonial
The class sizes at Graceland are the perfect size for professors to get to know students on a very personal basis. I have made great connections with many of my professors that reach well beyond the subject they teach and I consider some of them as very close friends even after graduation. The smaller class sizes are also very helpful for group discussions. In one of my intermediate accounting classes, we had a group of students that would sometimes have side conversations of questions for each other. One day we noticed our professor stopped her lecture and looked at us as we were asking each other questions. We apologized for interrupting her and she said for us to continue because the questions we were asking each other were even more beneficial than her lecture.
Robby Donarski '20 Auditor, Ernst & Young Accounting, Business Administration, Music
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Curriculum
  • BA Degree – Accounting Major

    In addition to the general education requirements, majors in Accounting must complete a concentration of 36 semester hours in Accounting and Economics including:

    Courses Required for General Education:

    Students planning to sit for the CPA Exam will need additional hours. Acoounting majors are encoured to also complete the Business Management major.

    Other Recommendations: Leadership Academy Certificate

    Courses Offered
    • ACCT2310Financial Accounting
      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.

    • ACCT2320Managerial Accounting
      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.

    • ACCT3220Agricultural Accounting and Taxation
      ACCT3220 Agricultural Accounting and Taxation - 3 s.h.

      Exposure to accounting methods and taxation policies specific to agricultural producers and businesses. Prerequisite: ACCT2310 Financial Accounting.

    • ACCT3240Global Issues in Accounting
      ACCT3240 Global Issues in Accounting - 3 s.h.

      Addresses the professional challenges, the social contexts of the accounting discipline, and specific discipline based global issues. This course also introduces the impact of Artificial intelligence, Blockchain, Cloud computing and Data analytics on global accounting. Prerequisites: ACCT2310 and ACCT2320.

    • ACCT3310Tax Accounting
      ACCT3310 Tax Accounting - 3 s.h.

      A study of federal income tax provisions relating to individuals, corporations, and partnerships.

    • ACCT3360Intermediate Accounting I
      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.

    • ACCT3400Cost Accounting for Managerial Control and Strategic Planning
      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 MATH1370. +This course is only offered every other year.

    • ACCT3460Intermediate Accounting II
      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.

    • ACCT4100Auditing Concepts and Applications – A Risk Analysis Approach
      ACCT4100 Auditing Concepts and Applications – A Risk Analysis Approach - 3 s.h.

      An introduction to the study of auditing principles and standards. Provides a working knowledge of auditing procedures. Prerequisite: ACCT3360.

    • ACCT4120Internship in Accounting
      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).

    • ACCT4200Seminar in Accounting
      ACCT4200 Seminar in Accounting - 3 s.h.

      An analysis of the problem of business and the functions of management in the determination of business policy in the various functional areas of the enterprise with extensive analysis of Financial Statements (Balance Sheets, Income Statements, and Cash Flow Statements). Prerequisites: ACCT3460, BUAD3320, BUAD3330, BUAD3380, and MATH1370.

    • ECON1320Principles of Microeconomics
      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

    • ECON2100Introductory Economic Data Analysis
      ECON2100 Introductory Economic Data Analysis - 3 s.h.

      An introduction to economic data and statistical techniques commonly applied in business settings. Topics include understanding the basics of data interpretation, manipulation, and visualization. Students will learn how to carry out and interpret basic linear regression and other methods of statistical analysis in Excel.

    • MATH1370Statistics for Sciences
      MATH1370 Statistics for Sciences - 3 s.h.

      Data analysis and measures of central tendency, dispersion, and correlation. Introduction to probability. Estimation and hypothesis testing. Bivariate regression. ANOVA. Introduction to nonparametric techniques. Prerequisite: 1 year high school algebra. ELO6 Math, GE2B Foundational Skills-Mathematics/Quantitative.

    • MATH1500Applied Calculus
      MATH1500 Applied Calculus - 3 s.h.

      An introduction to differential and integral calculus. Topics include limits, continuity, differentiation and integration techniques, and applications. Prerequisite: 2 years high school algebra. ELO6 Math, GE2B Foundational Skills-Mathematics/Quantitative.

    ACCT2310Financial Accounting ACCT2320Managerial Accounting ACCT3220Agricultural Accounting and Taxation ACCT3240Global Issues in Accounting ACCT3310Tax Accounting ACCT3360Intermediate Accounting I ACCT3400Cost Accounting for Managerial Control and Strategic Planning ACCT3460Intermediate Accounting II ACCT4100Auditing Concepts and Applications – A Risk Analysis Approach ACCT4120Internship in Accounting ACCT4200Seminar in Accounting ECON1320Principles of Microeconomics ECON2100Introductory Economic Data Analysis MATH1370Statistics for Sciences MATH1500Applied Calculus
    Course Descriptions
    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.

    ACCT3220 Agricultural Accounting and Taxation - 3 s.h.

    Exposure to accounting methods and taxation policies specific to agricultural producers and businesses. Prerequisite: ACCT2310 Financial Accounting.

    ACCT3240 Global Issues in Accounting - 3 s.h.

    Addresses the professional challenges, the social contexts of the accounting discipline, and specific discipline based global issues. This course also introduces the impact of Artificial intelligence, Blockchain, Cloud computing and Data analytics on global accounting. Prerequisites: ACCT2310 and ACCT2320.

    ACCT3310 Tax Accounting - 3 s.h.

    A study of federal income tax provisions relating to individuals, corporations, and partnerships.

    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 MATH1370. +This course is only offered every other year.

    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.

    ACCT4100 Auditing Concepts and Applications – A Risk Analysis Approach - 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).

    ACCT4200 Seminar in Accounting - 3 s.h.

    An analysis of the problem of business and the functions of management in the determination of business policy in the various functional areas of the enterprise with extensive analysis of Financial Statements (Balance Sheets, Income Statements, and Cash Flow Statements). Prerequisites: ACCT3460, BUAD3320, BUAD3330, BUAD3380, and MATH1370.

    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

    ECON2100 Introductory Economic Data Analysis - 3 s.h.

    An introduction to economic data and statistical techniques commonly applied in business settings. Topics include understanding the basics of data interpretation, manipulation, and visualization. Students will learn how to carry out and interpret basic linear regression and other methods of statistical analysis in Excel.

    MATH1370 Statistics for Sciences - 3 s.h.

    Data analysis and measures of central tendency, dispersion, and correlation. Introduction to probability. Estimation and hypothesis testing. Bivariate regression. ANOVA. Introduction to nonparametric techniques. Prerequisite: 1 year high school algebra. ELO6 Math, GE2B Foundational Skills-Mathematics/Quantitative.

    MATH1500 Applied Calculus - 3 s.h.

    An introduction to differential and integral calculus. Topics include limits, continuity, differentiation and integration techniques, and applications. Prerequisite: 2 years high school algebra. ELO6 Math, GE2B Foundational Skills-Mathematics/Quantitative.

  • Accounting Minor

    A minor in Accounting consists of 18 semester hours or more in Accounting (except Seminary in Accounting) including:

    Courses Offered
    • ACCT2310Financial Accounting
      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.

    • ACCT2320Managerial Accounting
      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.

    • ACCT3360Intermediate Accounting I
      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.

    ACCT2310Financial Accounting ACCT2320Managerial Accounting ACCT3360Intermediate Accounting I
    Course Descriptions
    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.

    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.

Exceptional Faculty

Why Graceland

 • Students have opportunities for experiential learning and internships with seasoned industry professionals 

• Graceland’s essential education encourages critical thinking and well-balanced learning that contributes to creative problem solving 

• Broad learning allows students to explore a wide range of financial and accounting professions 

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Career Growth Ahead

An accounting major from Graceland University can help to prepare you for these careers:

    • Business analyst
    • Certified public accountant
    • Chief financial officer
    • Controller
    • Forensic accountant
    • Government accounting
    • Tax accountant

               …and many other exciting fields.

Employed in Field

83%

Accounting graduates

Estimated Salary

$78,700

Accounting graduates

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Tuition & Aid

Over 98% of students on the Lamoni campus receive financial aid.

An education from Graceland is one of the greatest investments you can make but we understand that cost is often a concern. With our generous scholarships and awards, you will find a truly affordable private education – often the cost of attending Graceland is less than a public university.

Find out more!