Accounting - 120 Hr.

Chair: Ian J. Redpath, JD, LLM

INTRODUCTION

The Department of Accounting seeks to prepare graduates with the skills that are necessary for success in the profession of accounting. Accounting professionals are expected to be competent in accounting skills, well rounded in the various disciplines of business and possess excellent communication and interpersonal skills. Students completing the accounting program find positions in public accounting, industry, the financial sector, government and nonprofit entities.
The accounting curriculum is registered with the New York State Education Department.  To become a licensed CPA, an accounting graduate should also meet the experience requirement of the state of New York. Students desiring to sit for the exam and obtain their CPA license in other states should check with those states for their specific requirements. For a more detailed description of the program, faculty, facilities, academic and co-curricular opportunities please go to Accounting Program webpage

Note: Please see the Accounting Programs Overview page in this catalog for important information about degree policies and courses.

Becoming a Licensed Certified Public Accountant (C.P.A.)

There are two basic tracks for completing the 120 Hr. Accounting Program: 1) The C.P.A. track and, 2) The Non-C.P.A. track.  Students who wish to qualify to take the C.P.A. exam must use their accounting elective courses and a free elective course to take a set of classes that cover important topics related to public accounting (see courses listed on the Curriculum tab for this program).  Students who do not wish to take the C.P.A. exam can select other classes when choosing how they will satisfy their accounting and free electives course requirements.  In addition to passing the C.P.A. exam, 120 Hr. accounting majors must also meet additional New York State requirements to become licensed.  Accounting students in the 120 Hr. Program are strongly encouraged to discuss these two options (CPA Track & Non-CPA Track) and New York State CPA licensing requirements with their adviser.

General Education Requirements

All undergraduate students must complete either the Canisius Core Curriculum or the All-College Honors Curriculum.

Free Electives

Free electives are courses in addition to the Core Curriculum or Honors Curriculum and major requirements sufficient to reach the minimum of 120 credit hours required for graduation. Students may graduate with more but not less than 120 credit hours.

Major Requirements

Course Requirements: In addition to the common liberal arts and business courses, students in this program will take:

Business Core
Required courses for all business majors49-51
Additional Major Requirements
ACC 301
ACC 302
Intermediate Accounting I
and Intermediate Accounting II
6
ACC 303Cost Accounting3
ACC 307Accounting Information Systems3
ACC 415Basic Taxation3
LAW 371Business and Commercial Law3
LAW 372Business Organizations and Commercial Paper3
ENG 389Business Communication3
Accounting Electives6
Total Credits79-81

Courses Required to Take the CPA Exam

Students in the 120 credit hour Accounting program who wish to be qualified to take the CPA exam must use their Accounting and Free Elective courses to take the following:

ACC 416Advanced Taxation3
ACC 421Advanced Accounting Problems3
ACC 425Auditing Theory and Practice3

Typical Schedule

120 Hours — BS in Business Administration (Major: Accounting)

First Year
FallSpring
FYS 101ENG 101
MAT 105 (or MAT 109, MAT 111 or MAT 115)MAT 106 (or Free Elective if MAT 109, MAT 111 or MAT 115 in fall)
ECO 101ECO 102
RST 101PHI 101
Business International Requirement IBusiness International Requirement II
Sophomore
FallSpring
MGT 101MKT 201
ACC 211ACC 212
ECO 255ECO 256
ISB 101ACC 307
Field of Knowledge 4 (History)Field of Knowledge 3 (Arts)
Junior
FallSpring
ACC 301ACC 302
ACC 303ENG 389
FIN 201Arts & Science Elective
Field of Knowledge 6 (Natural Science)Field of Knowledge 2 (Philosophy)
Field of Knowledge 1 (Religious Studies)College Core Capstone
Senior
FallSpring
ACC 415Accounting Elective (400 Level)1
Accounting Elective (400 Level)1MGT 325
LAW 371LAW 372
Arts & Science ElectiveMGT 446
Arts & Science ElectiveFree Elective1
1

 Students who wish to be qualified to take the CPA exam must use their ACC Electives and Free Electives to take the following 3 courses:

  • ACC 416 Advanced Tax
  • ACC 421 Advanced Financial Reporting
  • ACC 425 Auditing

Learning Goal 1

Students will apply current principles of accounting to the measurement and reporting of accounting information.

Students will:

Objective A: Construct the financial statements in accordance with generally accepted accounting principles and analyze the strengths and weaknesses of each statement;
Objective B: Evaluate the reporting and valuation of assets and liabilities in accordance with generally accepted accounting principles;
Objective C: Evaluate the various alternatives to the measurement of income and the determination of financial position.

Learning Goal 2

Graduates will know how to compare/contrast alternative business decisions, and evaluate the potential impact of these decisions on future financial performance.

Students will:
Objective A: Demonstrate a sound understanding of cost behavior and analyze the differences resulting from fixed and variable costs in financial performance;
Objective B: Analyze the differences that result in financial reporting from the company's choice of inventory costing techniques;
Objective C: Apply budgeting techniques in the preparation of static and flexible budgets.

Learning Goal 3

Graduates will know the characteristics of internal control procedures needed in the aggregation of accounting information.

Students will:

Objective A: Demonstrate an understanding of the purpose of internal controls;
Objective B: Demonstrate an understanding of the principles of controls;
Objective C: Analyze the relationship of technology and controls.

Learning Goal 4

Graduates will know how the external regulatory, legal, and ethical environments impact business decisions and financial reporting requirements.

Students will:

Objective A: Apply different ethical frameworks in making business decisions;
Objective B: Apply both societal and governmental laws/regulations in making business decisions;
Objective C: Apply Federal Tax Law and regulation in the determination of taxable liability.