Major

Minor

Courses

Academic
Standards

Accounting
Division of Business and Economics
(College of Letters and Science)
C.R. Marshall, Chair of Division of Business and Economics
Room 477, Collins Classroom Center
Phone: 715-346-2728
E-mail: dbe@uwsp.edu
Web: www.uwsp.edu/business

Accounting Faculty: P Ianneli, W Love, W Maas.

Faculty members of the division participate in research related to their areas of academic interest. In addition, each member is involved in professional development activities through active memberships in professional societies and associations and community agencies.

To further enhance your career preparation when you major or minor in business administration, economics or managerial accounting, we encourage you to expand your classroom work through active participation in student and professional clubs, societies, associations, and volunteer work related to your area of study.  We also encourage business administration majors, and others with permission, to participate in internships for experience in actual business environments.

The Division of Business and Economics will make every effort to notify current and prospective majors of new program standards.  The technique of notification will depend on the nature of the program change and may include e-mail, Web pages, orientation sessions, the department advising office, faculty advisors, the catalog, and letters to students.

Abbreviations:
Bus = Business
CIS = Computer Information Systems
DBE = Division of Business and Economics
Econ = Economics
Math = Mathematics
Acct = Accounting

Professional Certifications
We encourage students majoring in accounting to pursue professional certification such as: Certified Management Accountant (CMA), Certified Internal Auditor (CIA), and/or Certified Public Accountant (CPA). You achieve these professional certifications by applying to the appropriate professional organization or state office for admission to a national examination, passing the exam (the CMA and CIA exams may be taken during the senior undergraduate year) and achieving professionally related experience. The certifications are granted by the related professional organizations, not by UWSP. Contact any accounting faculty member for more information.

The courses required for the accounting major prepare you to sit for the CMA exam, which is administered by the Institute of Management Accountants and the CIA exam, administered by the Institute of Internal Auditors.

If you wish to sit for the CPA examination in Wisconsin, you must have completed 150 semester hours of coursework. To do this, complete one of these:

1. A master’s degree program at an accredited university.
2. An additional major at UWSP.
3. Thirty credits of additional arts and science courses at UWSP selected to enhance your career preparation.

Accounting Major
Consists of 67 credits in the following categories:

1. Required lower division courses, 17 credits: Math 111 or 120; CIS 102 (spreadsheet); Acct  210, 211; Econ 210, 211.

2. Required basic core, 16 credits: Math 355 or an equivalent statistics course; Bus 320, 340, 350,, 360.

3. Required accounting, 28 credits: Acct 310, 311, 321, 330 or 331, 370, 400, 410, 420, 421, 450.

4. Controlled electives, 6 credits: two courses from Acct 331 (if not used as a required course), 390, 490; Bus 341, 352, 353.

Accounting Minor
Consists of 24 credits:

1. Required core, 18 credits: Acct 210, 211 or 320, 310; Econ 210; Bus 340, 350.
2. Electives, 6 credits: Additional accounting courses at 300-389.

Academic Standards for Accounting
To graduate with a major in managerial accounting or minor in accounting, you must have a 2.5 cumulative grade point average in all major required courses, including transfer courses, regardless of any declaration of academic bankruptcy. You can repeat no more than one course of D or D+ for credit in the major. If you earned an F, see the Academic Information section of this catalog for the policy on repeating courses. Courses in accounting are open to all students who meet the prerequisites.

Credit-by-Exam Policy
You may earn credit-by-exam for Acct 420 and 421 by successfully completing the Certified Management Accountant (CMA) exam parts related to each of these courses. Successfully complete exam parts 1 and 3 to earn credit-by-exam for Acct 420 and exam parts 2 and 4 to earn credit-by-exam for Acct 421. You must register and pay fees for the CMA exam through the Institute of Management Accountants (IMA) and the Institute of Certified Management Accountants (ICMA). To receive credit you must submit an authorized grade report from the certified testing center, the IMA or the ICMA. (Note: It might also be necessary to pay a fee to the UWSP testing center if the exam is taken in the UWSP campus computer labs.)

Courses in accounting are open to all students who meet the prerequisites.

Courses in Accounting
ACCT 210. Introductory Financial Accounting. 3 cr. Principles, concepts, and procedures of financial accounting essential to the preparation, understanding, and interpretation of accounting information. May not be taken for credit after 310. Prereq: So st.

ACCT 211. Introductory Managerial Accounting. 3 cr. Decision-making process using managerial accounting information; cost-volume-profit analysis, cost accounting systems, budgeting, and performance evaluations. May not earn credit in both 211 and 320. Prereq: 210 or cons instr.

ACCT 290. Special Topics in Accounting. Variable cr. Subtitle will designate topic.

ACCT 299. Special Work. Students may arrange for independent study with cons division head. Credit based on scope of project.

ACCT 310. Intermediate Financial Accounting I. 3 cr. Concepts, elements, and generally accepted accounting principles associated with financial statements, including income measurement and valuation of assets and equities. Prereq: 210.

ACCT 311. Intermediate Financial Accounting II. 3 cr. Continued study of concepts and principles underlying financial statements, including leases, pensions, income tax allocations, earnings per share and changes in accounting principle application. Prereq: 310.

ACCT 321. Advanced Managerial Accounting. 3 cr. Planning, control and analysis of production and marketing costs through budgeting and standard cost accounting techniques, including variance analysis and inventory management; revenue and cost allocations; strategic planning and the balanced scorecard. Prereq: 211 or 320.

ACCT 330. Federal Individual Income Taxes. 3 cr. Examine Federal Income Tax Law as it applies to individuals. Includes general concepts, tax return preparation and tax research methods. Prereq: 310 or con reg 310.

ACCT 331. Federal Business Income Taxes. 3 cr. Examine Federal Income Tax Law as it applies to C corporations, S corporations, limited liability companies, partnerships and fiduciaries. Includes general concepts, tax return preparation, tax research methods. Prereq: 310 and 330.

ACCT 370. Accounting Information Systems. 3 cr. Introduction to the concepts, objectives and importance of properly designed accounting information systems. Extensive study of internal controls including systems documentation. May not earn credit in both 370 and Bus 370.

ACCT 390. Ethics in Accounting and Business. 3 cr. Principles of ethics and professional responsibility applied to specific workplace situations and business activities. Explore interplay between corporate culture, professional codes of conduct and individual behavior. Develop, clarify, communicate and defend positions on corporate conduct. May not earn credit in both ACCT 390 and BUS 390. Prereq: 210 and BUS 380, or cons instr.

ACCT 400. The Accounting Profession. 1 cr. History and development of the accounting profession; professional employment, conduct, organizations, ethics, mores, and publications. Prereq: Cons instr.

ACCT 410. Advanced Financial Accounting (formerly 312). 3 cr. Financial accounting for governmental and other not-for-profit entities, mergers and parent-subsidiary relationships, foreign currency denominated investments, SEC reporting, and partnerships. Prereq: 311.

ACCT 420. Seminar in Managerial Accounting. 3 cr. Measurement and analysis of accounting data appropriate to managerial planning and decision making, cost determination, performance evaluation and control. Emphasis on the identification and utilization of performance measures and controls that drive results consistent with corporate strategies. Prereq: cons instr.

ACCT 421. Managerial Accounting and Financial Reporting Applications (formerly 412). 3 cr. Examine and apply managerial accounting tools and techniques used to manage business activities, then report results of operations to internal and external stakeholders via managerial reports and financial statements. Also organization management and communication, behavioral issues in managing organizations, and ethics standards. Also budgeting concepts and systems, cost management systems (activity-based costing, job order costing, and process costing), managerial and financial performance measurement tools (balanced scorecard, profitability analysis, and economic value added), accounting information systems, and financial statement preparation and reporting (recognition, measurement, valuation, and disclosure). Includes content for Parts 2 and 4 of Revised CMA exam. Prereq: Sr st; Acct 310, 311, 320, 321, 370, 410; Bus 320; and con reg in Acct 450.

ACCT 450. Auditing (formerly 350). 3 cr. Critical examination of evidence supporting financial statements, internal control, working papers, statistical sampling, nonfinancial attestation services, audit reports, and professional standards. Prereq: 311, Math 355.

ACCT 490. Special Topics in Accounting. Cr arranged. Subtitle will designate topic.

ACCT 497. Internship in Accounting. Cr arranged. Supervised training work program in a cooperating agency or business. Credit set by chair and acct faculty member. Prereq: Cons chair.

ACCT 498. International Internship. 1-12 cr. Supervised training work program in an international agency or business located outside the United States. Credit set by chair and acct faculty. Prereq: Cons chair.

ACCT 499/699. Special Work. Upperclass or graduate students may arrange for independent study with cons chair. Credit based on scope of project. Prereq: Cons chair.

Accounting Latent Courses: Not offered recently. For a full course description, see the printed version of the catalog listed behind the course number (xx-xx).

• 220  Lotus 1-2-3 Practicum, 1 cr.

• 320  Managerial Accounting, 3 cr. (07-09)

• 340  Fund Accounting, 3 cr, (89-91)