Accounting Program Requirements

These requirements are from an excerpt from the University Academic Catalog, which outline the requirements for a student to earn the distinction of being a Castleton University graduate. The complete catalog is available online.

Concentration in Accounting

Students completing a BS.BUS with a concentration in Accounting are prepared to pursue careers as corporate, not-for-profit, or small business accountants or to continue their studies at the graduate level. With the addition of the Master of Science in Accounting degree, students are prepared for careers in public accounting and advancement in private accounting. A career as a professional accountant requires a commitment to lifelong learning as the profession is continually evolving. Therefore, pre-entry education should lay the base on which lifelong learning can be built. This base has three components: skills, knowledge, and professional orientation.

Students completing a BS.BUS.ACC will demonstrate technical competency and professional knowledge in accounting theory, auditing, and individual income taxation.

Plus, all Accounting Concentration students must successfully complete the following courses (25 cr):

Code Course Credits

ACC 3211

Corporate Financial Reporting I

Take these 7 courses (19 cr):

This is the first course in a three-course sequence that provides an in-depth study of generally accepted accounting principles (GAAP) necessary to prepare and comprehend corporate financial reports. The course focuses on the accounting cycle, the conceptual framework, and financial statement preparation. Students are required to perform accounting research, utilize Excel as a problem-solving tool, and utilize Word as a communication tool. U.S. GAAP is emphasized but international GAAP is also considered.

Prerequisite: ACC 2101 and ACC 3010

Fall

3

ACC 3212

Corporate Financial Reporting II

This is the second course in a three-course sequence that provides an in-depth study of generally accepted accounting principles (GAAP) necessary to prepare and comprehend corporate financial reports. This course focuses on recording and reporting issues involving assets, liability, and equity accounts. Students are required to perform accounting research, utilize Excel as a problem-solving tool, and utilize Word as a communication tool. U.S. GAAP is emphasized but international GAAP is also considered.

Prerequisite: ACC 3211

Spring

3

ACC 3310

Accounting Cases and Research

This course utilizes a case study methodology for solving complex accounting and tax reporting issues. The course challenges students to research, analyze and communicate topics by using authoritative literature. Students will learn effective use of research tools, perform analysis, apply judgment, write responses to technical problems, cite appropriate literature, and effectively present findings, clearly and concisely in a professional format using APA guidelines. Students will also understand CPA exam requirements regarding research.

Prerequisite: ACC 3211

Fee Fee $20

Spring

3

ACC 4041

Income Tax I

This course focuses on the concepts and logic that form the foundation of federal income tax law. Current tax law is examined in the context of these concepts. Various taxable entities are considered but the primary focus is on the individual and small business. Full coverage of federal income tax law requires that tax return preparation and tax law research also be included.

Prerequisite: ACC 3212

Fee Materials charge $20.

Spring

3

ACC 4041

Individual Tax Preparation

This course is designed to provide students with real-world experience in income tax preparation. Students will be required to complete the Internal Revenue Service's VITA/TCE Curriculum and obtain IRS certification to participate in the Voluntary Income Tax Assistance or Tax Counseling for the Elderly. Students will volunteer for a minimum of thirty-three hours per semester (approximately three hours per week) at either a VITA or TCE site for the period the site is open.

Prerequisite: ACC 4041 Concurrently.

Spring

1

ACC 4050

Auditing and Assurance Services

Auditing introduces principles and procedures of gathering evidence in accordance with generally accepted auditing standards in order to form an opinion on the "fairness of presentation" of financial statements. The role of risk assessment in the audit environment and the nature of attestation and assurance services are examined.

Prerequisite: ACC 3212

Fall

3

ACC 4120

Advanced Accounting

And select two of the following courses (6 cr):

Study, discussion and research related to more complex issues in corporate reporting. Significant coverage on topics related to International Accounting, including International Financial Reporting Standards, common international practices, and comparisons with US reporting standards and issues pertinent to global business entities. Other topics include an introduction to governmental reporting and selected topics in authoritative financial reporting standards. Intensive writing and research.

Prerequisite: ACC 3212

Fall

3

ACC 3320

Current Topics in Accounting

Selected readings and cases stimulate discussion and research on current issues in business reporting, auditing, ethics, taxation and professional certification. Topics range from using Big Data, analyzing financial instruments, exploring new professional standards and critiquing articles in professional literature. Significant class discussion and research create sources for individual student research and writing projects.

Prerequisite: ACC 3010

Fall, odd years

3

ACC 4010

Accounting Information Systems

This course will analyze the development, maintenance, and control of the accounting system. It will focus on manual and/or computer-based systems.

Prerequisite: ACC 3212

Spring, even years

3

ACC 4130

Professional Responsibilities and Legal Issues

Study, discussion and research addressing critical professional responsibilities and oversight in the accounting environment. Readings and case studies focus on the professional and legal issues confronting accountants and public accounting firms. Participants explore issues in ethics, fraud, auditor liability, corporate governance, illegal acts and government regulation using professional standards, corporate law, court rulings and SEC mandates and publications. Coverage also includes fundamental contractual obligations and legal concerns relevant for practicing accountants.

Prerequisite: ACC 3212

Spring, even years

3

BUS 4110

Operations Management

-or- BUS 4130 - Quantitative Business Decisions 3 cr

Introduction to concepts and fundamental understanding of systems management. Study of specific problems; decision-making processes dealing with planning and control in manufacturing and service firms.

Prerequisite: BUS 2550 or MAT 2021 and MAT 2022

Fall

3

Total credits required for the major: 65

And complete the university's Gen Ed requirements

Review the Gen Ed requirements.

It is strongly recommended that all students majoring in Business Administration complete either MAT 2021 - Statistics I and MAT 2022 - Statistics II or MAT 2021 - Statistics I and MAT 1531 - Calculus I for the scientific and mathematical frame of reference to be adequately prepared for upper level business study.

Masters Degree

Castleton offers a one year Master of Science degree for students seeking licensure as a certified public accountant or continued career advancement in either corporate, not-for-profit, or government organizations. Castleton’s graduate catalog contains a more thorough discussion of the degree including course descriptions. Requirements for initial CPA licensure vary by state; students desiring initial licensure in states other than Vermont should review the requirements of that state.

Bachelor of Science in Business Administration

The Department of Business Administration strives to provide an atmosphere that is conducive to ethical behavior and intellectual growth. The department core is designed to provide a foundation of general business knowledge on which individual programs within the department can build. Internships can be available for qualified students. Students successfully completing a Business Administration major will be able to compete effectively for professional employment, understand the importance of professional behavior, possess a strong work ethic, and be prepared to pursue lifelong learning including graduate studies and beyond.

Students are encouraged to use their selection of frames of reference courses and other free elective courses to broaden their experiences and exposure to other ways of thinking and to other disciplines. Free elective course work can be from any discipline and can be, but need not be, used to fulfill requirements for a minor.

Students completing a Bachelor of Science in Business Administration will be proficient in:

  • Defining, analyzing, and solving problems in both an individual and group environment.
  • Recognizing and using effective verbal and written communication skills.
  • Using computers and other technologies generally used in an entry-level business environment.

All Business majors must complete the following courses (40 cr):

Code Course Credits

ACC 2101

Accounting I

This course examines the role that accounting information plays in decision-making and the importance of income, cash flows, and financial position to organizations. Issues are considered from a variety of users’ viewpoints. Included in the course will be (1) a focus on analytic and problem-solving skills, (2) technological and communication skill development, and (3) an awareness of ethical and public policy issues.

Basic computer skills in Microsoft Excel and Word are required.

Fee Materials charge $20.

Fall

3

ACC 3010

Accounting for Management Decisions

This course examines the use of accounting information to enhance decision-making and control of for-profit, not-for-profit, and governmental organizations. The major topics in this course include the use of accounting in making alternative choice decisions, the development and use of product cost information, as well as the creation of operating and capital budgets.

Prerequisite: ACC 2101

Fee Fee $20

Every Semester

3

BUS 1270

Principles of Computer-Based Information Systems

An introduction to the devices and techniques used in the processing of data. This course includes hands-on use of word processing and spreadsheet programs and the internet. This course fulfills the Gen Ed computing requirement.

Fee Materials charge $20.

Every semester

3

BUS 2020

Principles of Management

This course in an introduction to the philosophy, principles, and techniques of management. Students will examine classical, modern, and emerging concepts as they relate to today’s manager and the functional processes of planning, organizing, directing and controlling resources. Learning experiences may include case studies, team experiences and simulations.

Prerequisite: BUS 1270.

Every semester

3

BUS 2230

Principles of Marketing

This course introduces the role of marketing as it relates to manufacturing, wholesale, retail, and service businesses. Topics include product development, pricing decisions, promotional consideration, and distribution options of both goods and services. Students will also examine the emerging role of electronic marketing, and its impact on today’s businesses.

Prerequisite: BUS 1270.

Every semester

3

BUS 2370

Business Communications

The student practices the writing skills required for a successful career in business. Special attention is given to writing letters, memoranda, reports, and resumes. This course provides fundamental skills necessary for the student’s successful completion of future business courses.

Restrictions Restrictions: Business Administration majors and minors, Computer Information Systems majors, and Writing minors (English) only

Prerequisite: ENG 1061

3

BUS 2550

Business Statistics and Analytics

*

Course descriptions are to develop statistical methods and to utilize these methods to make appropriate decisions regarding actual business problems. Topics of study are statistical description, central tendency, discrete and continuous distributions, probability and sampling theory, statistical inference and hypothesis testing. Parametric and nonparametric statistical tests will be examined, including t-tests, Chi-square, and ANOVA. Additional topics include regression, time series analysis and applications in business forecating. This course has a business focus, but is appropriate for any student.

Prerequisite: Computer competency, BUS 1270 or comparable course, and appropriate math placement.

Every semester

4

BUS 3035

Case Studies in Business Administration

A continuation of core business courses (ACC 2101, BUS 2020, and BUS 2230) with further development of principles. The course objective is to apply accounting, management, and marketing principles to case studies with the student assuming the role of a manager to solve problems or challenges. Particular emphasis is placed upon writing cases analyses.

Restrictions Restrictions: Must be taken prior to BUS 4080.

Prerequisite: ACC 2101, BUS 2020, BUS 2230

Fee Fee $20

Every semester

3

BUS 3131

Business Law I

An introductory course to provide a knowledge and awareness of the scope and terminology of the American legal system as it pertains to business organizations. Topics emphasized may include criminal law, tort law, forms of doing business, law of contracts, sales, real and personal property law, negotiable instruments, Uniform Commercial Code, and agency relationships.

Prerequisite: BUS 2020

Every semester

3

BUS 3230

Financial Management

This course covers the principles of how business enterprises refinance; general methods and basic tools of financial management and control, utilization, disposition of funds.

Prerequisite: ACC 2101

Every semester

3

BUS 4080

Business Strategy and Policy Development

This course focuses on both the analysis of an organization’s internal and external environments and on the development of appropriate corporate, business, and functional level strategies. The case study method is used extensively, with emphasis placed on policy formulation, strategic implementation, and control. Both for-profit and not-for-profit organizations are included.

Prerequisite: Senior standing and approval of the department.

Every Semester

3

ECO 2040

Macroeconomics in a Global Context

This course serves as an introduction to economic principles in general as well as macroeconomics in particular. How do we understand the workings of the U.S. economy, in its global context? This course looks at the economy holistically, with an emphasis on its interconnections. We examine the connections between competing economic analyses and competing policy prescriptions to prevent or repair economic problems such as unemployment, inflation, and unsustainable growth – within the context of a rapidly globalizing economy.

Prerequisite: MAT 1221 or MAT 1320 or MAT 2021 or equivalent or concurrent enrollment in MAT 2021.

Every Semester

3

ECO 2050

Microeconomics in a Global Context

*Students are required to complete either BUS 2550 - Business Statistics and Analytics

or both MAT 2021 - Statistics I and MAT 2022 - Statistics II

An introduction to microeconomic theory and its applications placed in a global context. Attention given to: 1) economic behavior of consumers and businesses; 2) the pricing of productive inputs, income distribution and redistribution; 3) the nature and functioning of markets; and 4) the consequences of imperfect competition and imperfect information.

Prerequisite: MAT 1221 or MAT 1320 or MAT 2021 or equivalent.

Every Semester

3

Dual Concentration

A student may concentrate in two of the following areas of expertise within the Department of Business Administration: ACC, MGT, and MKT. The student must complete all required Business Core courses, all required courses for both concentrations, and two Business electives with an ACC, BUS, or CIS suffix. (Business electives are courses not required by the major or concentration but add depth and richness to the student's learning experience.)