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Accounting

Requirements & Courses

  • Accounting Major

    Fifty-two credits which must include:

    Core Courses (36 cr):

    1. BUS-121, 221, 225, 309, 323, 333, 440

    2. Four credits from 224A, 224B, 224C, 224D

    3. Four credits from BUS-150, 151, 340, 341, 342, 350, 442, 385/386, 299/399/499, 500

    Accounting Emphasis (16 cr)

    1. BUS-321, 322, 331, 425.

    *See also Required Cognate Courses.

  • Professional Accounting (CPA) Major

    The State of Michigan requires five years of coursework in order to sit for the CPA exam (or 168 credit hours at Alma College). Students interested in pursuing the Professional Accounting (CPA) can, with careful planning of coursework at Alma, complete the necessary coursework required to sit for the exam in four years. In addition to the courses required for the Accounting Major, students must complete the following courses for the Professional Accounting (CPA) Major: BUS-366, 422, 426 and 449. (See also Required Cognate Courses.) As part of their cognates, students must also take ECN-111 and MTH-116. Total Credit Hours: 68.

  • Required cognate courses for Accounting and Professional Accounting Majors:
    1. Economics: ECN-111 or 112
    2. Data/Business Analytics: four credits from ECN-217, 317; POL-111, 215, or other course pre-approved by the department.
    3. Quantitative: four credits from MTH-113, 116, 118, 121, 341, PSY-220 or other course pre-approved by the department. MTH-116 is the preferred course.
    4. Ethics: four credits from PHL-225, 227, 228, 229, 242 or other course approved by the department.
    5. Communication: One course in COM or NMS or any other communication course approved by the department (students may take any two or four credit course in either COM or NMS).

Courses

  • BUS
    121
    .
    Business Foundations
    4 credits
    General survey course that introduces the students to the various business disciplines. Students will briefly investigate the disciplines of accounting, finance, international business, law, management and marketing and how all of these disciplines are interrelated. The areas of business ethics and social responsibility will also be examined.
  • BUS
    221
    .
    Financial Accounting
    4 credits
    Prerequisite: BUS-121 or HCA-131 (may be taken concurrently), sophomore standing, or permission
    General survey course that introduces the study and application of the basic concepts and methods used in developing and reporting financial information about an economic entity. Emphasis on developing the ability to interpret and apply accounting information to the decision-making process.
  • BUS
    225
    .
    Legal Environment of Business
    4 credits
    Introduces legal concepts and critical thinking that are applied in a business context. Includes the study of complex business problems with a legal and ethical focus. Students will build knowledge of the law and legal concepts to help navigate the everyday business world. Topics may include: the court system, litigation process, negligence and strict liability, employment law and discrimination, contracts, real and personal property law, torts, product liability, consumer law and criminal law impacting business.
  • BUS
    309
    .
    Managerial Finance
    4 credits
    Prerequisite: Four credits from BUS-222 or BUS-224(A-D or 224M); ECN 111, 112, 201 or 202; and four credits from MTH 113, 116, 118, 121, 341, PSY 220, or Permission
    An introductory course in finance designed for general business students with an emphasis on core financial principles. Students will acquire a working knowledge of how capital markets function, learn to analyze financial statements, assess the time value of money and the valuation of debt and stock, and make capital budgeting decisions.
  • BUS
    321
    .
    Intermediate Accounting I
    4 credits
    Prerequisite: four credits from BUS-222 or BUS-224(A-D or 224M)
    In-depth study of theoretical framework, concepts and methods relating to financial accounting, with special attention given to asset measurement and income determination. Emphasis on developing analytical and problem-solving skills.
  • BUS
    322
    .
    Intermediate Accounting II
    4 credits
    Prerequisite: BUS-321
    Thorough and balanced study of theory, concepts, methods and applications relating to financial accounting with special attention to debt and owner equity measurement and disclosure. Emphasis on earnings per share calculation and accounting for leases and pensions.
  • BUS
    323
    .
    Contemporary Management
    4 credits
    Prerequisite: four credits from BUS-222 or BUS-224(A-D or 224M); ECN 111, 112, 201 or 202; and four credits from MTH 113, 116, 118, 121, 341, PSY 220, or Permission
    Exploration of the four primary functions of management: planning, organizing, leading and controlling. Emphasis on understanding functions and roles that managers play within organizational structures and society stakeholders. Students will engage in numerous contemporary experiential learning and project applications. Developing managerial problem-solving, business professionalism, teamwork, and communication skills are a cornerstone of this course.
  • BUS
    331
    .
    Cost Accounting
    4 credits
    Prerequisite: four credits from BUS-222 or BUS-224(A-D or 224M)
    For service and manufacturing sectors, study of cost accounting systems and cost information including objectives, data accumulation, presentation and communication. Emphasis on cash flow, cost behavior and allocation, management planning and control, breakeven analysis and variance analysis useful in decision making.
  • BUS
    333
    .
    Marketing and Society
    4 credits
    Prerequisite: four credits from BUS-222 or BUS-224(A-D or 224M); ECN-111, 112, 201 or 202; and four credits from MTH-113, 116, 118, 121, 341, PSY-220, or Permission
    General survey course acquainting students with the business and economic principles underlying the transfer of goods and services from producer to consumers. Investigation of the institutions, systems of distribution, and the functions and policies of the marketing discipline.
  • BUS
    341
    .
    Applications and Cases in Management
    4 credits
    Prerequisite: BUS-121, 221, 309, 323, 333 and four credits from BUS-222 or BUS-224(A-D or 224M)
    Apply management concepts to real life cases and situations. Examine complex management problems in the business world. Learn critical thinking, problem solving and conceptual thinking through the use of role play, simulations, projects, and case applications. This is a synergistic class and content from core classes will be utilized in this experiential learning environment.
  • BUS
    385
    .
    Business Administration Practicum
    4 credits
    Prerequisite: Complete the following courses with a minimum grade of C: BUS-121, 221, 225, 309, 323, 333 and four credits from BUS-222 or BUS-224(A-D or 224M)
    Only four credits will count in the major. Requires permission. Student must also successfully complete the appropriate internship workshops that are sponsored by the Center for Student Opportunity (CSO).
  • BUS
    425
    .
    Federal Individual Income Tax
    4 credits
    Prerequisite: four credits from BUS-222 or BUS-224(A-D or 224M)
    This course covers the federal income tax laws and regulations impacting individuals. Topics covered include: personal and dependency exemptions, gross income, deductions, losses, tax credits property transactions and federal gifts taxes. Students gain analytical and problem-solving skills for dealing with individual income tax issues.
  • BUS
    440
    .
    Global Strategic Management
    4 credits
    Prerequisite: BUS-121, 221, 309, 323, 333 and four credits from BUS-222 or BUS-224(A-D or 224M)
    Coverage of all aspects of strategy with a focus on industry and corporate analysis, especially in the global environment. Emphasis on individual written and group oral presentations of case analyses. Students apply the concepts learned to actual business situations. The capstone course for Business Administration and International Business Administration majors.
  • BUS
    442
    .
    Accounting Information Systems
    4 credits
    Prerequisite: BUS-322 or by Permission
    Study of accounting information systems, including systems analysis, design and implementation. Emphasis on design and documentation tools and internal controls. Focuses on the needs and responsibilities of accountants as end users of systems, system designers and auditors.
  • BUS
    442M
    .
    Accounting Information Systems
    4 credits
    Prerequisite: BUS-322 or by Permission
    Study of accounting information systems, including systems analysis, design and implementation. Emphasis on design and documentation tools and internal controls. Focuses on the needs and responsibilities of accountants as end users of systems, system designers and auditors. Spring Term only.
  • BUS
    499
    .
    Business Admin. Independent Study
    1 credit
    Requires instructor permission.
  • BUS
    500
    .
    Senior Thesis
    4 credits
    Prerequisite: Senior Standing and Permission
    Student must have a GPA of 3.5 or better calculated on all BUS courses taken.

Cognate Courses

  • ECN
    111
    .
    Principles of Macroeconomics
    4 credits
    Introductory survey of macroeconomic theory and national policy. Supply and demand analysis and solutions to basic economic problem of scarcity in the American economy. Examines relationship between national income and its determinants with emphasis on role of fiscal and monetary policies in stabilizing national economic performance. (Formerly offered as ECN-201).
  • ECN
    112
    .
    Principles of Microeconomics
    4 credits
    Introductory survey of microeconomic theory. Principles of consumer demand; production, exchange and distribution in capitalist economies; labor and resource markets; international trade and exchange rate theory and policy.
  • ECN
    217
    .
    Quantitative Methods
    4 credits
    Prerequisite: One math class at MTH-110 level or higher, or Permission
    An introduction to a variety of the quantitative methods used in the social sciences. Students will learn the basic probability and research design theory necessary for understanding and applying quantitative methods in social sciences. Students will replicate data analyses and conduct their own with real world data. Students will learn to use statistical software, like R. Prerequisite for ECN 317.
  • ECN
    317
    .
    Econometrics
    4 credits
    Prerequisite: ECN-100 level and ECN-217, or permission
    Survey of standard forecasting techniques in business and economics. Introduces the use of econometric models with emphasis on multiple regression, simulation modeling and time-series analysis. Special attention to applying forecasting techniques to real-world data.
  • MTH
    113
    .
    Applied Calculus
    4 credits
    Prerequisite: MTH-112 or Pre-Calculus in High School
    Introduction to differential and integral calculus. Focuses on applications; theory held to a minimum. Examples from business and the natural and social sciences. Background in trigonometry not needed.
  • MTH
    116
    .
    Elementary Statistics
    4 credits
    Prerequisite: MTH-100 or Placement
    Introduction to modern elementary statistics and applications. Focuses on statistical reasoning and data analysis. Includes statistical design of experiments, estimation, hypothesis testing, regression, correlation and other selected topics.
  • MTH
    118
    .
    Biostatistics
    4 credits
    Prerequisite: MTH-100 or Placement
    Introduction to statistical methods used in biomedical science and public health research. Focuses on experimental design, descriptive methods, hypothesis tests, analysis of variance, regression, and other selected topics.
  • MTH
    121
    .
    Calculus I
    4 credits
    Prerequisite: MTH-112 or Pre-Calculus in High School
    Introduction to the calculus of one variable. Includes limits and continuity, the derivative and applications, the integral and applications, infinite series and sequences. (Part I of II)
  • MTH
    341
    .
    Probability and Statistics I
    4 credits
    Prerequisite: MTH-122
    In-depth examination of probability and introduction to mathematical statistics. Topics include axiomatic probability, discrete and continuous random variables, transformations of random variables, moment generating functions, limit theorems, and point estimation.
  • PSY
    220
    .
    Statistics
    4 credits
    Prerequisite: PSY-120, 121 or Permission
    Introduction to descriptive and inferential statistics, and factorial analysis of variance. Appropriate for both life and social sciences.
  • PHL
    225
    .
    Environmental Ethics
    4 credits
    Examination of conceptual and moral issues about nature and humans’ relationship to it. Focus is on both theoretical frameworks about humans’ responsibility for the environment and on contemporary environmental controversies, such as global warming, population issues, pollution, global justice and sustainability.
  • PHL
    227
    .
    Ethics and Business
    4 credits
    Exploration of the nature of moral values, moral judgments and ethical decisions. Analysis of selected issues in modern business. Test cases used for practice in decision making. Especially pertinent for those planning business careers but designed for all interested students.
  • PHL
    228
    .
    Ethics and Law
    4 credits
    Exploration of conceptual and ethical issues in the making and administration of law. Introduction to ethical theory. Study of such topics as criminals’ rights, justification of punishment, death penalty, nature of legal responsibility, extent of justifiable government interference with freedom and relation between law and morality. Especially pertinent for Pre-Law students, but designed for all interested students.
  • PHL
    229
    .
    Ethics and Medicine
    4 credits
    Exploration of nature of moral values, moral judgments and ethical decisions. Analysis of selected issues in medicine and other health fields. Test cases used for practice in decision-making. Especially pertinent for those planning careers in health professions, but designed for all interested students.
  • PHL
    242
    .
    Philosophy of Sport
    4 credits
    Examination of conceptual and moral issues that arise in sport. Conceptual issues include the relationship between play, games and sport, and the nature of competition. Moral issues include the role of sport in education, sportspersonship, performance-enhancing drugs, violence in sport, hunting and gender equity in sport.

One course in COM or NMS or any other communication course approved by the department