Bachelor of Science in Accounting

MISSION OF ACCOUNTING PROGRAM
The mission of the undergraduate accounting program is to provide a high quality accounting education, through teaching, intellectual contributions, professional interaction and service, for the culturally diverse and multi-ethnic populations of Baltimore and other urban centers in the state and nation. The primary aim of the program is to prepare students for entry level careers in all areas of accounting including public accounting, private industry, federal, state and local governments and non-profit organizations. The program also seeks to prepare students for further study at the graduate level. While quality teaching is central to the program's mission, it recognizes the interrelationship among quality teaching, research and service. The program seeks to ensure that the intellectual output, professional interaction and public service of faculty enhance the instructional component of the program's mission.

OBJECTIVES OF THE ACCOUNTING PROGRAM
The accounting program, along with Morgan State University's strong liberal arts foundation and comprehensive business requirements, provides a broad educational base that qualifies students for a variety of careers and development opportunities. The accounting program provides students with the technical and professional knowledge needed for entry level positions in all areas of accounting, and develops and enhances the skills needed for overall success in business careers including critical thinking skills, technological skills, communication and interpersonal skills, and problem solving skills.

The program also provides students with exposure to global, political, social, legal, regulatory, ethical and environmental issues as they relate to business and accounting. It offers a well rounded business education and accounting foundation sufficient for future career growth and further educational development.

For students interested in becoming Certified Public Accountants (CPAs), the program offers the specific courses required by the state of Maryland to sit for the CPA examination. Such students should follow the curriculum for the CPA track which appears below.

Effective October 1, 2011, applicants are required to have completed 120 undergraduae semester hours and a baccalaureate degree  in order to take the CPA examination.    To obtain the license to practice as a CPA, 150 undergraduate semester hours are required.  Morgan provides opportunities for students to obtain the 150 credit hours for CPA licensure. There are three options:

  1. Take additional undergraduate courses in the major or any other courses. Recommend courses include courses in information systems, computer science, communications, finance and foreign languages. A minor in finance is available in the Department. A minor in information systems is available through the Department of Information Science and Systems (INSS).
  2. Pursue a general MBA degree  offered by the Graves School.
  3. Pursue the master's degree in professional accounting (MPA degree) offered by the Graves School.

For additional information on the requirements for the CPA examination in Maryland, go to the Maryland Board of Accountancy website

REQUIREMENTS FOR A MAJOR IN ACCOUNTING
In addition to the general education requirements and the business core requirements, students that declare a major in accounting during Fall 2003 or thereafter must take an additional 24 credit hours in accounting courses as listed below:

 

Required Accounting Courses (18 credits):

Credit Hours

ACCT 300 Cost and Budgetary Control

3

ACCT 308 Accounting Information Systems

3

ACCT 320 Federal Income Taxation I

3

ACCT 331 Intermediate Accounting I

3

ACCT 332 Intermediate Accounting II

3

ACCT 406 Auditing

3

 

Required Accounting Electives (6 credits):
Any two of the following:

Credit Hours

ACCT 307 International Accounting

3

ACCT 321 Federal Income Taxation-Business Entities

3

ACCT 401 Advanced Accounting

3

ACCT 402 Governmental, Non-Profit Accounting

3

BUAD 382 U.S. Business Law

3

 

 The general curriculum guide for a major in accounting appears below. The curriculum guide for accounting students interested in the CPA track follows the general curriculum guide. Unlike the general accounting curriculum, the CPA track includes required courses in oral communications and business law (Effective October 1, 2011, SPCH 101, Fundamentals of Speech, will no longer be required to satisfy the oral communications criteria for the CPA exam.  This criteria will be met by the ENGL 357 requirement, Business Communications.  For students entering Morgan in Fall 2011 or later, the SPCH101 course is being replaced by ACCT 499, Accounting Capstone, to be taken in the senior year.  These student should see the Department Chair for a curriculum guide).


BACHELOR OF SCIENCE--ACCOUNTING
SUGGESTED SEQUENCE OF COURSES
Effective Fall 2010

(TOTAL 124 credit hours)  

Freshman Year

1st semester- 17 credits

2nd Semester- 17 credits

Course No.

Title

Course No.

Title

ENGL 101

Reading & Writing I

ENGL 102

Reading & Writing II

HIST 101
or
HIST 105

World History I

History of the US I

HIST 102
or
HIST 106

World History II

History of the US II

HEED 100

Healthful Living

PHEC XXX

Physical Education

MATH 113

Into to Math Analysis I

INSS 141

Introduction to Computer Systems

BIOL 101
or
BIOL 102

Introduction to Biology I

Introduction to Biology II

CHEM 101
or
PHYS 101

General Chemistry
or CHEM 110 or CHEM 111 or
or PHYS 203 or PHYS 205

ORIE 102

Freshman Orientation

MATH 118

Finite Math


Sophomore Year

1st semester- 18 credits

2nd Semester- 15 credits

Course No.

Title

Course No.

Title

BUAD 202

Leadership Seminar

ENGL 357

Business Communication

MATH 201

Calculus for Non-Science

INSS 220

Anal Dec in Business

ACCT 201

Principles of Accounting I

ACCT 202

Principles of Accounting II

HUMA 201

Humanities I

HUMA 202

Humanities II

ECON 211

Economics I - Macro

ECON 212

Economics II - Micro

PHIL 109

Introduction to Logic

 

 


Junior Year

1st semester- 18 credits

2nd Semester- 15 credits

Course No.

Title

Course No.

Title

INSS 360

Management Info Systems

MGMT 324

Organizational Behavior

MKTG331

Principles of Marketing

BUAD 381

Legal & Ethical Environment

ACCT 331

Intermediate Accounting I

ACCT 332

Intermediate Accounting II

ACCT 300

Cost Accounting

ACCT 308

Acctg Information Systems

FIN 343

Managerial Finance

BUAD 327

Fundamentals of Intl Business

XXX XXX

Humanities Elective

 

 


Senior Year

1st semester- 12 credits

2nd Semester- 12 credits

Course No.

Title

Course No.

Title

ACCT 320

Federal Income Tax - Individuals

ACCT 406

Auditing

MGMT 328

Production Management

XXX XXX

African Studies Elective

BUAD 326

Bus. Ethics & Society

ACCT XXX

Accounting Elective

ACCT XXX

Accounting Elective

BUAD 499

Business Policy


CPA Track
(TOTAL 127 credit hours)

Freshman Year

1st semester- 17 credits

2nd Semester- 17 credits

Course No.

Title

Course No.

Title

ENGL 101

Reading & Writing I

ENGL 102

Reading & Writing II

HIST 101
or
HIST 105

World History I

History of the US I

HIST 102
or
HIST 106

World History II

History of the US II

HEED 100

Healthful Living

PHEC XXX

Physical Education

MATH 113

Into to Math Analysis I

INSS 141

Introduction to Computer Systems

BIOL 101
or
BIOL 102

Introduction to Biology I

Introduction to Biology II

CHEM 101
or
PHYS 101

General Chemistry
or CHEM 110 or CHEM 111 or
or PHYS 203 or PHYS 205

ORIE 102

Freshman Orientation

MATH 118

Finite Math

 

Sophomore Year

1st semester- 18 credits

2nd Semester- 15 credits

Course No.

Title

Course No.

Title

BUAD 202

Leadership Seminar

SPCH 101

Speech Fundamentals

MATH 201

Calculus for Non-Science

INSS 220

Anal Dec in Business

ACCT 201

Principles of Accounting I

ACCT 202

Principles of Accounting II

HUMA 201

Humanities I

HUMA 202

Humanities II

ECON 211

Economics I - Macro

ECON 212

Economics II - Micro

PHIL 109

Introduction to Logic

 

 

 

Junior Year

1st semester- 18 credits

2nd Semester- 18 credits

Course No.

Title

Course No.

Title

INSS 360

Management Info Systems

MGMT 324

Organizational Behavior

MKTG331

Principles of Marketing

BUAD 381

Legal & Ethical Environment

ACCT 331

Intermediate Accounting I

ACCT 332

Intermediate Accounting II

ACCT 300

Cost Accounting

ACCT 308

Acctg Information Systems

FIN 343

Managerial Finance

BUAD 327

Fundamentals of Intl Business

XXX XXX

Humanities Elective

ENGL 357

Business Communication

 

Senior Year

1st semester- 12 credits

2nd Semester- 12 credits

Course No.

Title

Course No.

Title

ACCT 320

Federal Income Tax - Individuals

ACCT 406

Auditing

MGMT 328

Production Management

XXX XXX

African Studies Elective

BUAD326

Bus. Ethics & Society

ACCT XXX

Accounting Elective

BUAD 382

Business Law

BUAD 499

Business Policy


Note:
After completing the CPA track and receiving a B.S. degree in accounting, students will have met specific course requirements of the Maryland State Board of Accountancy. However, such students will need 23 additional credit hours in subjects of their choosing to qualify to sit for the CPA examination in Maryland.


ACCOUNTING COURSE OFFERINGS

ACCT 201 PRINCIPLES OF ACCOUNTING I - Three hours; 3 credits.
This is an introductory accounting course with a focus on financial accounting. It introduces the accounting cycle that includes the double entry system for recording transactions, adjusting and closing entries, and preparation of financial statements. The accounting topics for merchandising activities, assets valuation, and current liabilities are discussed. Prerequisites: ENGL 101, INSS 141 and MATH 113 with grade of C or better. (FALL, SPRING).

ACCT 202 PRINCIPLES OF ACCOUNTING II - Three hours; 3 credits.
This course is a continuation of ACCT 201 with a focus on financial accounting for the first half of the course and a focus on managerial accounting during the second half of the course. Behavioral and ethical issues are covered in general and specifically with the budgeting and control chapters. Multinational differences are noted (e.g., non capitalist countries rely more on managerial accounting than on financial accounting due to differences in sources of capital). Prerequisite: ACCT 201 with grade of C or better. (FALL, SPRING).

ACCT 300 COST & BUDGETARY CONTROL - Three hours; 3 credits.
The course provides in-depth coverage of cost behavior, product costing, cost-volume-profit analysis, budgeting, cost structures for variance analysis, direct costing, activity based costing and special managerial decisions. The design, interpretation and identification of opportunities and methods for improving costs and performance are discussed. Prerequisite: ACCT 202 with grade of C or better. (FALL, SPRING).

ACCT 307 MULTINATIONAL ACCOUNTING - Three hours; 3 credits.
This course addresses how the internationalization of capital markets and the dramatic increase in the foreign direct investments of multinational enterprises have increased the need for relevant, timely and comparable information about the activities of business enterprises having operations in more than one nation. This course describes some of the historical and current developments that push for commonality in accounting and reporting standards at national, regional, and international levels. The cultural and perceived ethical differences relative to accounting and reporting are examined. Prerequisite: ACCT 300 with grade of C or better. (SPRING).

ACCT 308 ACCOUNTING INFORMATION SYSTEMS - Three hours; 3 credits.
(Formerly, this course was ACCT 408.) This course studies accounting systems that include the events and the stops of the accounting cycle, from source documents to the preparation of financial statements, both manual and computerized. Additional topics covered are internal controls, the impact of technology on accounting systems, data management and e-commerce. The course stresses problem solving, critical thinking, and computer application skills. The course also provides hands-on experience with accounting, flowcharting, and database software. Prerequisites: ACCT 202 and INSS 360 with grade of C or better. (FALL, SPRING).

ACCT 310 HOSPITALITY MANAGEMENT ACCOUNTING - Three hours; 3 credits.
This course is open to NON ACCOUNTING majors only. The course focuses on accounting in the hospitality industry. Accounting concepts, statements and principles are discussed relative to the accounting cycle. Financial and managerial accounting techniques and processes applicable to the measurement and management of assets and liabilities are covered. Ethics, global diversity and technology as they relate to hospitality management are introduced. Prerequisite: ACCT 201 with grade of C or better. (FALL).

ACCT 320 FEDERAL INCOME TAXATION I - Three hours; 3 credits.
This course provides an explanation of the Federal tax structure and principles. The focus is on individual tax issues and planning from a domestic and international perspective. Prerequisite: ACCT 202 with grade of C or better. (FALL, SPRING).

ACCT 321 FEDERAL INCOME TAXATION II - Three hours; 3 credits.
Federal income taxation of partnerships, corporations, S-corporations, estates and trusts, gifts, installment sales, and tax research. Prerequisite: ACCT 320 with grade of C or better. (SPRING).

ACCT 331 INTERMEDIATE ACCOUNTING I - Three hours; 3 credits.
The course gives an intense coverage of financial accounting theory and practice, including, the conceptual framework underlying financial accounting, statement of income and retained earnings, balance sheet and statement of cash flows, cash and receivables, inventory valuation, and revenue recognition alternatives.
Prerequisite: ACCT 202 with grade of C or better. (FALL, SPRING).

ACCT 332 INTERMEDIATE ACCOUNTING II - Three hours; 3 credits.
The course covers a continuation of accounting theory and practice including accounting for property, plant, equipment, natural resources, intangible assets, current and long-term liabilities, contributed capital, retained earnings, dilutive securities, EPS calculations and temporary and long-term investments.
Prerequisite: ACCT 331 with grade of C or better. (FALL, SPRING).

ACCT 401 ADVANCED FINANCIAL ACCOUNTING - Three hours; 3 credits.
This course provides an in-depth coverage of accounting concepts, principles, and procedures applicable to partnerships; contemporary financial accounting theories and practices for complex business entities; mergers and consolidated financial statements; fundamental aspects of international accounting principles; and analytical approaches to aid the solution of complex accounting problems.
Prerequisite: ACCT 332 with grade of C or better. (FALL, SPRING).

ACCT 402 GOVERNMENTAL & NON-PROFIT ACCOUNTING - Three hours; 3 credits.
Accounting principles, concepts, and practices in municipal and other governmental units are covered with emphasis on fund accounts. The related budgetary and encumbrance procedures are included. The use of fund and financial accounting principles and practices relative to non-profit hospitals, colleges/universities, and associations receive particular attention. Prerequisite: ACCT 332 with grade of C or better. (FALL, SPRING).

ACCT 406 AUDITING - Three hours; 3 credits.
This course is an examination of the concepts and principles underlying the financial statement examination and review process. Risk exposures along with procedures for managing risk, which include ethical and international issues, are studied. Prerequisite: ACCT 332 with grade of C or better. (FALL, SPRING).

ACCT 480 VOLUNTEER INCOME TAX ASSISTANCE (VITA) - One hour; 1 credit.
This course provides field work in the preparation of individual income tax returns (State and Federal) covering topics of gross income, deductions and credits.
Prerequisite: ACCT 320 with grade of C or better or permission of instructor. (SPRING).

ACCT 497 ACCOUNTING INTERNSHIP/COOPERATIVE EDUCATION - Two hours; 2 credits.
This course provides an opportunity for students to broaden their educational experience through supervised work assignments in the accounting area with an accounting firm, corporation or government agency. Prerequisite: ACCT 331 with grade of C or better, or approval of Department Chairperson (FALL, SPRING, SUMMER).


REQUIREMENTS FOR A MINOR IN ACCOUNTING
For business students desiring a minor in accounting, four additional accounting courses beyond the business core are required: Intermediate Accounting I, Cost Accounting, and any two of the following: Accounting Information Systems, Income Tax Accounting, Intermediate Accounting II and Auditing.