Fayetteville, Arkansas 72701
479-575-2000
Accounting (ACCT)
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Vernon Richardson
Department Chair
401 WCOB
479-575-4051
- Walter B. Cole Chair in Accounting and Professor Bouwman
- Garrison/Wilson Chair in Accounting and Professor Finn
- Ralph L.McQueen Chair in Accounting and Professor Myers (J.)
- Doyle Z. and Maynette Derr Williams Chair in Professional Accounting and Professor Pincus
- S. Robson Walton Chair in Accounting and Professor Richardson
- Doris M. Cook Chair in Accounting and Associate Professor Myers (L.)
- Professor Norwood
- Nolan E. Williams Lecturer and Associate Professor Peters
- Assistant Professor and BKD Lectureship in Accounting Henderson
- Assistant Professor Sanchez (J.M.)
- Clinical Associate Professor Leflar
- Instructors Greenhaw, Horton, Sanchez (D.), Shook, Weitzel
The mission of the department of accounting is to cultivate an environment of educational excellence. We do so by pursuing the following endeavors:
- Providing a learning environment in which students interact with others to identify and solve accounting and business problems.
- Developing and disseminating knowledge that has the potential for significant impact on accounting, business, and education.
- Interacting with the accounting profession, the business and academic communities, and the community at large.
The department of accounting offers an undergraduate degree program in accounting and graduate programs at both the master’s and doctoral levels. The department’s programs are accredited by the AACSB – The International Association for Management Education, which ensures quality and promotes excellence and continuous improvement in undergraduate and graduate education.
A major in accounting is preparation for success in the business world. Every business needs accounting help, whether it is the largest retail company in the world, a small family-owned enterprise, an agency for the homeless, or a musical group touring the country. The accounting major provides an excellent foundation for a variety of careers.
For example, the professional public accountant provides auditing and accounting services to client business and non-business organizations in a variety of industries. A management accountant works for a particular organization in its finance and operations areas or becomes part of the management team. Some accountants are employed by non-profit organizations such as the American Cancer Society, state and local governments, or government agencies like the FBI. Other accounting graduates are self-employed in a variety of professions or businesses, and some continue in graduate school to prepare for teaching careers.
Professional examinations, such as the Certified Public Accountant (CPA) or Certified Management Accountant (CMA) examinations, are governed by the organizations that administer the exam. Students should see the accounting department upon enrollment in the University of Arkansas for information relative to the professional exams.
The education objective at the undergraduate level is to provide an environment in which students learn skills necessary to become professional accountants, including information development and distribution; knowledge of accounting, auditing, and tax; knowledge of business and society; communication skills; analytical and decision-making skills; leadership; and professionalism. In addition, the accounting department offers courses in Business Law.
| Accounting Major Requirements | Hours |
| Complete the requirements for a B.S.B.A. degree as listed under Degree Requirements. | |
| Total General Education | 60 |
| Walton College Core Requirements (See Degree Requirements) | 33 |
| Course Requirements in the Major | 24 |
| ACCT 3533 Accounting Technology | 3 |
| ACCT 3613 Managerial Uses of Accounting Info | 3 |
| ACCT 3723 Intermediate Accounting I | 3 |
| ACCT 3753 Intermediate Accounting II | 3 |
| ACCT 3843 Fundamentals of Taxation | 3 |
| ACCT 4673 Product, Project and Service Costing | 3 |
| ACCT 4963 Operational Auditing | 3 |
| Choose a total of three hours from any of the following courses: ACCT 310V Spring Accounting Internship ACCT 410V Special Topics ACCT 4003H Honors Accounting Colloquium ISYS 2263 Introduction to Information Systems Development WCOB 4213 ERP Fundamentals Walton College Study Abroad Course |
3 |
| Junior- senior-level electives within Walton College | 15 |
| Maximum of 27 hours of ACCT courses in department (core, major, elective). More than 27 hours allowed if the extra courses are part of interdisciplinary minor or collateral track. | |
| Total Walton College Requirements | 60 |
| Total Degree Requirements | 126 |
NOTE: Selection of electives should be made in consultation with academic advisers. Students planning on taking professional examinations should ascertain course requirements by examining authorities. Successful completion of a Master of Accountancy Degree from the University of Arkansas will qualify a student to take the CPA examination in Arkansas. B.S.B.A. graduates would need additional accounting hours and other courses amounting to a total of 150 semester hours to sit for the CPA exam in Arkansas.
Students wishing to follow the eight-semester degree plan should see the Eight-Semester Degree Completion Policy in the Academic Regulations chapter for university requirements of the program.
In addition to the coursework below, students must complete the Advanced Composition Requirement or gain exemption. Courses in BOLD must be taken in the designated semester. Courses in ITALIC may be taken in varied sequences as long as other designated requirements for these courses are met. Although other courses listed are not required to be completed in the designated sequence, the recommendations below are preferred.
3 ENGL 1013 Composition I ** – University Core
3 MATH 2053 Finite Math – University Core
3 COMM 1313 Fundamentals of Communication
1 WCOB 1111 Freshman Business Connections
2 WCOB 1012 Legal Environment of Business *
0 WCOB 1120 Computer Competency Requirement
3 U.S. History or Political Science – University Core
15 Semester Hours
3 ENGL 1023 Composition II ** - University Core
3 WCOB 1023 Business Foundations
3 WCOB 1033 Data Analysis and Interpretation
3 ECON 2023 Microeconomics — University Core
4 Natural Science — University Core
16 Semester Hours
3 MATH 2043 Survey of Calculus **
3 ECON 2013 Macroeconomics ** - University Core
6 Select TWO of the following:
WCOB 2013 Markets and Consumers
WCOB 2023 Production and Delivery of Goods and Services
WCOB 2033 Acquiring and Managing Human Capital
WCOB 2043 Acquiring and Managing Financial Resources
3 Social Science — University Core
3 Fine Art/Humanities — University Core
18 Semester Hours
3 Fine Art/Humanities — University Core
4 Natural Science — University Core
3 Business Social Science
6 Select TWO of the following not completed in previous semester:
WCOB 2013 Markets and Consumers
WCOB 2023 Production and Delivery of Goods and Services
WCOB 2033 Acquiring and Managing Human Capital
WCOB 2043 Acquiring and Managing Financial Resources
16 Semester Hours
ALL pre-business requirements should be met by end of term
3 ACCT 3723 Intermediate Accounting I
3 ACCT 3613 Managerial Uses of Accounting
3 Hour Junior/Senior Business Elective
6 WCOB 3016 Business Strategy and Planning
1 General Education Elective
16 Semester hours
3 ACCT 3533 Accounting Technology
3 ACCT 3753 Intermediate Accounting II
3 ACCT 3843 Fundamentals of Taxation
3 Junior/Senior Business Elective or ISYS 2263 Introduction to Information Systems Development
3 ENGL 2003 or ENGL 2013 or General Education Elective IF Advanced
Composition Requirement has already been met ***
15 Semester hours
3 Select ONE of the following:
ACCT 4673 Production Project and Service Costing
ACCT 4963 Operational Auditing
3 Junior/Senior Business Electives
6 General Education Electives
15 Semester hours
Choose a total of three credit hours from any of the courses below:
ACCT 310V Accounting Internship
ACCT 410V Special Topics
ACCT 4003H Honors Accounting Colloquium
WCOB 4213 ERP Fundamentals
3 credit hours of WCOB Study Abroad
6 Junior Senior Business Electives
6 General Education Electives
15 Semester hours
126 Total hours
* Must be taken prior to fall semester of sophomore year
** Must be taken prior to fall semester of junior year
*** Must be taken prior to fall semester of senior year
Accounting Minor for Business Students
The Department of Accounting offers a minor for Walton College students desiring more knowledge of accounting to assist them in their business careers. The minor requires the completion of 15 specific hours of study with all of the courses applied toward the minor taken in residence. The 15 hours include the following courses:
ACCT 3533 Accounting Technology
ACCT 3613 Managerial Uses of Accounting Information
ACCT 3723 Intermediate Accounting I
ACCT 3753 Intermediate Accounting II
ACCT 3843 Fundamentals of Taxation
Students who desire to earn an Accounting minor must notify the Walton College Undergraduate Programs Office of intent to pursue a minor. All requirements for the minor must be completed prior to the awarding of the student’s undergraduate degree. All specific course prerequisites must be met. Each student must have a 2.00 cumulative grade-point average in the courses offered for the minor. All upper level minor requirements must be taken in residence.
Courses
BLAW3033 Commercial Law (Sp) A study of the laws applicable to commercial transactions. Topics covered include the common law of contracts, Articles Two (Sales) and Three (Commercial Paper) of the Uniform Commercial Code, secured transactions, suretyship, and bankruptcy. Prerequisite: WCOB 1012.
ACCT3013 Accounting View of Economic Events (Sp, Fa) This course examines the relationship between economic events and the accounting view of those events. It explores the information that is captured by various accounting models and information that is ignored. The course emphasizes business processes, double entry accounting, and computer-based accounting information systems. Prerequisite: WCOB 1023.
ACCT310V Accounting Internship (Sp, Su, Fa) (1-3) This class is designed to give students an internship opportunity to combine their formal academic preparation with an exposure to the accounting profession. Prerequisite: ACCT 3723 and ACCT 3843. May be repeated for up to 3 hours of degree credit.
ACCT3533 Accounting Technology (Sp, Fa) This course provides an overview of accounting information systems and illustrates the importance of technology to accountants. Students are exposed to a variety of information technologies including manual, file-oriented, and database systems. The relative advantages and disadvantages of each type of system are highlighted and discussed. Prerequisite: ACCT 3723 or ACCT 3013 each with a grade of "C" or better.
ACCT3613 Managerial Uses of Accounting Information (Sp, Fa) Use of accounting information for managerial decisions in a changing, global environment. Identifying the specific information needs of managerial decisions, focusing on the role of both financial and non-financial accounting information within the context of a continually changing information system technology. Covers business as well as non-profit and governmental organizations. This course includes spreadsheet analysis. Prerequisite: WCOB 1023.
ACCT3723 Intermediate Accounting I (Sp, Fa) This course is designed to study the theoretical basis for financial accounting concepts and principles related to financial reporting. This course emphasizes researching technical accounting pronouncements for application to external financial reporting issues. Prerequisite: WCOB 2043 with a grade of "C" or better.
ACCT3753 Intermediate Accounting II (Sp) This is the second financial accounting course designed to continue study of financial accounting concepts and principles. This course emphasizes research of technical accounting pronouncements for application to external financial reporting issues. Prerequisite: ACCT 3013 or ACCT 3723 each with a grade of "C" or higher.
ACCT3843 Fundamentals of Taxation (Sp, Fa) Overview of basic income tax principles and tax planning techniques. Overview of the income tax treatment of business entities. Focus on the income tax treatment of individuals (with emphasis on the Federal Income Tax). Prerequisite: ACCT 3013 or ACCT 3723 each with a grade of "C" or better or graduate standing.
ACCT4003H Honors Accounting Colloquium (Irregular) Explores events, concepts and/or new developments in the field of accounting. Prerequisite: Senior standing.
ACCT410V Special Topics in Accounting (Irregular) (1-3) Explore current events, concepts and new developments relevant to Accounting not available in other courses. Prerequisite: ACCT 3013 with a grade of "C" or better.
ACCT4203 Taxation of Business Entities (Irregular) Focus on the income tax treatment of corporations and pass-through business entities. Prerequisite: ACCT 3843 with a grade of C or better.
ACCT4673 Product, Project and Service Costing (Sp) Cost systems with emphasis on information generation for cost management of products, projects and services. The course includes spreadsheet and other computer program analysis. Prerequisite: ACCT 3013 or ACCT 3723 each with a grade of "C" or better.
ACCT4963 Operational Auditing (Fa) The audit of efficiency, effectiveness, and performance of business and nonbusiness entities. Includes coverage of performance auditing techniques and application of these techniques to financial and nonfinancial functions. Prerequisite: ACCT 3013 or ACCT 3723 each with a grade of "C" or better.
ACCT5223 Accounting for Supply Chain & Retail Organizations (Fa) Highlights the role played by accounting information in managing supply chains and retail operations. Provides tools for managing cost flows, including activity-based costing, retail accounting, and operational budgeting. Focuses on improving decision making processes, and linking the impact of retail/supply chain decisions to financial statements and shareholder value. Prerequisite: MBAD 511V with a grade of "C" or better.
ACCT5413 Advanced Financial Accounting (Fa) Integrated course which examines the financial reporting, tax, managerial, systems and auditing aspects of major corporate restructurings arising from events such as mergers, acquisitions, spinoffs, reorganizations and downsizing. Prerequisite: ACCT 4753 with a grade of "C" or better.
ACCT5433 Fraud Prevention and Detection (Fa) An examination of various aspects of fraud prevention and detection, including the sociology of fraud, elements of fraud, types of fraud involving accounting information, costs of fraud, use of controls to prevent fraud, and methods of fraud detection. Prerequisite: MBAD 512V with a grade of "C" or better.
ACCT5443 Asset Management (Sp) Managing assets to achieve corporate strategy. Included are issues such as strategy formulation, acquisition processes, internal controls, system requirements, accounting measurements, inventory models, re-engineering, capital budgeting, tax issues, and discussion of current business events that have ethical implications. Prerequisite: MBAD 513V with a grade of "C" or better.
ACCT5463 Financial Statement Analysis (Sp) This course is designed to study financial statements and their related footnotes; tools and procedures common to financial statement analysis; the relationships among business transactions, environmental forces (political, economic, and social), and reported financial information; and how financial statement information can help solve certain business problems. Prerequisite: ACCT 3723 with a grade of "C" or better.
ACCT549V Special Topics in Accounting (Sp, Fa) (1-3) Seminar in current topics not covered in other courses. Students may enroll in one or more units. May be repeated for up to 3 hours of degree credit.
ACCT5873 Advanced Taxation (Fa) In-depth coverage of the tax treatment of corporations including advanced tax issues. Introduction to tax research including the organization and authority of tax law; accessing and using the tax law; and, applying tax law to taxpayer scenarios. Prerequisite: ACCT 3843 or equivalent with a grade of "C" or better.
ACCT5883 Individual Tax Planning (Sp) In-depth coverage of the tax treatment of passthrough business entities including advanced tax issues. Overview of the income tax treatment of estates and trusts. Overview of the essentials of estate and gift taxation. Prerequisite: MBAD 512V or ACCT 3843 each with a grade of "C" or better.
ACCT5953 Assurance Services (Fa) The expression of assurance on financial statements and other forms of information for decision makers. Includes risk assessment, evidence gathering, and reporting. Prerequisite: ACCT 4753 with a grade of "C" or better.
ACCT6013 Graduate Colloquium (Irregular) Presentation and critique of research papers and proposals. May be repeated for up to 9 hours of degree credit.
ACCT6033 Accounting Research Seminar I (Irregular) First course in the accounting research seminar sequence which explores and evaluates current accounting literature. Course content reflects recent developments in the literature and specific interests of participants. Examples of potential topics include research methods in accounting, managerial accounting, behavioral accounting,
ACCT6133 Accounting Research Seminar II (Irregular) Second course in the accounting research seminar sequence which explores and evaluates current accounting literature. Course content reflects recent developments in the literature and specific interests of participants. Examples of potential topics include research methods in accounting, financial accounting, managerial accounting, behavioral accounting, tax, audit, international accounting, and education. Prerequisite: ACCT 6033.
ACCT6233 Accounting Research Seminar III (Irregular) Third course in the accounting research seminar sequence which explores and evaluates current accounting literature. Course content reflects recent developments in the literature and specific interests of participants. Examples of potential topics include research methods in accounting, financial accounting, managerial accounting, behavioral accounting, tax, audit, international accounting, and education. Prerequisite: ACCT 6033.
ACCT636V Special Problems in Accounting (Sp, Fa) (1-6) Special research project under supervision of a graduate faculty member.
ACCT6433 Accounting Research Seminar IV (Irregular) Fourth course in the accounting research seminar sequence which explores and evaluates current accounting literature. Course content reflects recent developments in the literature and specific interests of participants. Examples of potential topics include research methods in accounting, financial accounting, managerial accounting, behavioral accounting, tax, audit, international accounting, and education. Prerequisite: ACCT 6033.
ACCT6633 Accounting Research Seminar V (Irregular) Fifth course in the accounting research seminar sequence which explores and evaluates current accounting literature. Course content reflects recent developments in the literature and specific interests of participants. Examples of potential topics include research methods in accounting, financial accounting, managerial accounting, behavioral accounting, tax, audit, international accounting, and education. Prerequisite: ACCT 6033.
ACCT700V Doctoral Dissertation (Sp, Fa) (1-18) Prerequisite: Candidacy.