Bachelor of Science in Business and Administration with a major in accounting.
The Drake University School of Accounting is accredited by AACSB International. Approximately 160 of the more than 800 accounting programs in the United States have attained this accreditation; fewer than 10 accounting programs outside the United States are accredited by AACSB International.
The School of Accounting provides an education in accounting and business law that prepares graduates to assume entry-level positions in public, private, governmental, and not-for-profit accounting. Its program establishes a foundation for future growth and development for the accounting student. Students learn how to develop, analyze, interpret and present business data and information that enable effective business decision-making. The curriculum prepares graduates to sit for professional examinations in accounting that lead to such designations as Certified Public Accountant (CPA), Certified Management Accountant (CMA), Certified Internal Auditor (CIA) and the Certificate in Financial Management (CFM). Finally, the accounting major is excellent preparation for law school and a legal career.
Graduates are prepared to assume responsibilities in a wide range of professional positions and in diverse employment situations. For example, positions are available for graduates as auditors, tax consultants and business consultants in public accounting; in cost control, budgeting, internal auditing, financial reporting and tax planning in industry and the not-for-profit sector; and in government as auditors and financial managers.
The School of Accounting awards both graduate and undergraduate degrees in accounting. The undergraduate degree, a Bachelor of Science in Business Administration (B.S.B.A.), requires 124 semester hours and is typically completed in four years on a full-time basis. A student may choose to pursue the full accounting major, which requires 27 hours of accounting beyond Accounting 41 (Introduction to Financial Accounting) and 42 (Introduction to Managerial Accounting), or to pursue a joint major in accounting and another discipline in the College of Business and Public Administration.
The joint accounting major provides an in-depth study in both accounting and another business discipline within the 124 hours needed to receive the B.S.B.A. degree.
The graduate degree in accounting, Master of Accounting (MAcc), requires an additional 30 hours of graduate study beyond the B.S.B.A. degree and is typically completed in one year. However, with careful planning, both the bachelor’s and master’s degrees can be completed in as little as four and one-half years. A student may choose to earn the B.S.B.A. degree or both the B.S.B.A. and MAcc degrees depending upon his/her career interests.
Almost all of the 54 jurisdictions in the United States that confer the CPA certificate require 150 hours of collegiate study comprising an accounting major for the CPA. Drake’s MAcc degree provides the additional study in accounting, business law, and related subjects necessary to earn the CPA designation in those jurisdictions requiring 150 hours of study. Details of the MAcc are available in Drake’s Graduate Catalog.
The accounting major is integrated with courses in the liberal arts and in other business disciplines throughout both the B.S.B.A. and MAcc programs. From the first year through the fourth or fifth year of study, each student is involved in the major through a minimum of two accounting and/or business law courses per academic year. This integrated curriculum of accounting, business law, liberal arts and business provides the educational foundation needed for a successful professional career and success in completing the professional certification examinations.
Students admitted to Drake University who declare an accounting major are conditionally admitted to the School of Accounting as “pre-accounting” majors. As pre-accounting majors, students are assigned accounting faculty members as academic advisers and are invited to participate in School of Accounting activities. An application for full admission to the school must be filed with the director of the school when admission requirements have been met, typically in the fall semester of the junior year. This requirement applies to accounting majors, double majors that include accounting and joint accounting majors. The School of Accounting admits students who have satisfactorily met the following requirements:
To graduate with an undergraduate accounting major, a student must maintain a cumulative GPA of 2.00 for all Drake University work attempted, a cumulative GPA of 2.00 for all courses taken in the College of Business and Public Administration that carry a number of 100 and above, and a cumulative grade-point average of 2.00 or above for all 100-level accounting courses required to complete the major.
Suggested course sequence in the major:
|Fall Semester||Credit Hours|
|Accounting 41 (Introduction to Financial Accounting)||3|
|Accounting 42 (Introduction to Managerial Accounting)||3|
|Fall Semester||Credit Hours|
|Accounting 80 (Accounting Information Systems)||3|
|Accounting 90 (Profit Planning and Control)||3|
|Business Law 60 (Business Law I)||3|
|Fall Semester||Credit Hours|
|Accounting 115 (Cost Accounting)||3|
|Accounting 165 (Financial Accounting I)||3|
|Accounting 166 (Financial Accounting II)||3|
|Accounting 175 (Auditing Principles)||3|
|Fall Semester||Credit Hours|
|Accounting 185 (Individual Taxation)||3|
|Accounting 167 (Financial Accounting III)||3|
|Accounting 186 (Business Entity Taxation)||3|
The purpose of the joint majors in accounting is to provide the opportunity for students to complete an in-depth study of both accounting and another business discipline within the 124 credits needed to obtain an undergraduate degree. This is not possible if the student pursues a double major in accounting and another business discipline. The joint major requires three fewer accounting courses and there are some modifications in the other business major as well. At the completion of a joint accounting major, a student meets the education requirement to sit for the Certified Management Accounting (C.M.A.), Certificate in Financial Management (C.F.M.), and Certified Internal Auditor (C.I.A.) examinations.
The joint major enables graduates to seek accounting positions in industry, government and the not-for-profit sector. In addition, it provides students who are not interested in accounting as a career, a strong foundation in financial reporting, cost accounting, taxation of business entities and the auditing of operations. The joint accounting major still provides the undergraduate student with the accounting courses needed to enter the Master of Accounting degree program, if a student should decide later to pursue C.P.A. professional certification.
A joint accounting major requires:
The joint majors and requirements by the complementary non-accounting discipline are:
A. Joint Program: Accounting/Actuarial Science
- Non-business requirement: Mathematics 50, 70, 80 and 100.
- Business core: Statistics 71 and 72 are replaced by Statistics 131 and 141
- Actuarial Science requirement: Actuarial Science 140, 150 and 151; Statistics 132; Finance 102; Finance 150.
- For the student to be fully prepared for the fourth professional actuarial science examination, he/she should complete Actuarial Science 160 – Credibility and Simulation. Statistics 142 – Statistical Modeling and Data Analysis II OR Economics 107 — Econometrics is required to earn Validation by Educational Experience credit from the actuarial societies.
B. Joint Program: Accounting/Finance
- Non-business requirement: Economics 105
- Finance requirement: Finance 102, 119, 193, 197 plus the requirements of one of the finance tracks
C. Joint Program: Accounting/International Business
- Non-business requirement: Economics 130, Political Science 65, Psychology 1, SCS-Geography 3.
- Business requirement: Business 170, Finance 170, Marketing 170, and either Management 145 or 160
- Foreign language and
- Three area study courses. The area study consists of three courses drawn from Anthropology, Geography, History, Political Science, or Economics. All three courses cannot be in the same subject area and at most one course can be in Economics. The student may choose either a global perspective (world geography, world politics and modern world history) or a particular region of the world to study from among Europe, Asia, Africa or Latin America.
- Students must demonstrate proficiency in a language other than their native tongue. Proficiency can be demonstrated by college credit or equivalent, including certification exam credit, for a language through the intermediate level (second year, college level). Non-English native speakers demonstrate foreign language proficiency implicitly by taking their classes in English while at Drake.
D. Joint Program: Accounting/Information Systems
- Non-business requirement: Computer Science 65
- Information Systems requirement: IS 50, 80, 145, 160, 172 and 180
E. Joint Program: Accounting/Management
- Non-business requirement: SCS-Sociology 1, Psychology 1
- Management requirement: Four of the following courses, Management 145, 160, 175, 182, or Business 170
F. Joint Program: Accounting/Marketing
- Non-business requirement: SCS-Sociology 1, Psychology 1, one 100-level economics course
- Marketing requirement: Marketing 113, 118 and four of the following: Marketing 106, 108, 109, 114, 115, 170 or JMC 176
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