Accounting

Degree Options

Bachelor of Science in Business Administration with a major in accounting.

Description of Program

The Drake University School of Accounting is accredited by AACSB International. Approximately 180 of the more than 800 accounting programs in the United States have attained this accreditation, along with 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), and Certified Internal Auditor (CIA). 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.

Requirements for Major

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 certification. 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:

• Junior standing.
• Completion of each of the following courses (or their equivalents) with a grade of "C" or better, whether at Drake or accepted as transfer credit to Drake: Business Law 60; Information Systems 44; Mathematics 28 or higher; Economics 1 and 2; Statistics 71; and Accounting 41, 42 and 80.
• Attainment of a cumulative GPA of 2.50 or higher on all work completed at Drake University.
• Attainment of a cumulative GPA of 2.50 or higher for Accounting 41, Accounting 42 and Accounting 80.
• Students transferring more than 48 credit hours to Drake must complete at least 12 credits at Drake with a cumulative GPA of 2.50 or higher, including a "C" or better in Accounting 115, Accounting 185, or Accounting 165.

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:

Accounting Joint Majors

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.), 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, 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:

1. Acceptance of the student into the School of Accounting.
2. Completion of Accounting 80, 115, 165, 166, 175, and 185 with a cumulative GPA for these courses of 2.00 or higher.
3. Completion of the requirements of another discipline in the College of Business and Public Administration.

The joint major 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 120, 121, 131, 132, 145, 150 and 151; Finance 102.
• For the student to be fully prepared for the fourth professional actuarial science examination, he/she should complete Actuarial Science 160 – Credibility and Simulation. ACTS 170 – 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, 121, 193 and 197.

C. Joint Program: Accounting/International Business

• Non-business requirement: Political Science 65, SCS-Geography 3.
• Business requirement: Management 170, Finance 170, Marketing 170, and Economics 130
• Two area study courses. Students may choose two courses focused on a region of the world: Africa, Asia, Europe, or Latin America, or two globally oriented courses focused on a topical area: Cultural, Political, Religious, or Economic studies.
• Foreign language requirement: 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

• Information Systems requirement: Information Systems 74, 160, plus three of the following: Information Systems 80, 145, 150, or Computer Science 65: ,

E. Joint Program: Accounting/Management

• Non-business requirement: Psychology 1
• Management requirement: Four of the following courses: Management 145, 160, 170, 182, or 184

F. Joint Program: Accounting/Marketing

• Non-business requirement: Psychology 1
• Marketing requirement: Marketing 113, 118, and 115, plus three of the following: Marketing 102, 104, 106, 109, 111, 130, 170, 180