Accounting
Department Information

Accounting

W. Darrell Walden, Chair
Professors Bagranoff, Geiger
Associate Professors Clikeman, Hoyle, Paik, van der Laan Smith, Vendrzyk, Walden
Assistant Professors Austin, Kumas, Selby

Mission-Accounting Department

The mission of the undergraduate accounting program within the Robins School of Business is to prepare students to be responsible accounting and business leaders in a global economy through the integration of superior instruction and intellectual inquiry in a liberal arts environment.

Major

The Accounting Major

In addition to the requirements for the B.S.B.A. degree outlined below, all accounting majors must complete seven additional courses in accounting.

Candidates for a B.S.B.A. must:

Satisfy the general degree requirements for graduation

Complete the following pre-business courses:
ACCT 201 Fundamentals of Financial Accounting
BUAD 202 Statistics for Business and Economics
BUAD 205 Business Communication
ECON 101 Principles of Microeconomics
ECON 102 Principles of Macroeconomics
MATH 211 Calculus I

Complete the following core courses except as noted:
BUAD 393 Business Law
BUAD 394 Business Ethics
BUAD 497 Strategic Management *
FIN 360 Principles of Financial Management
MGMT 325 IT and Data Analytics
MGMT 330 Organizational Behavior
MGMT 340 Operations Management
MKT 320 Principles of Marketing

*The International Business concentration requires IBUS 411 in lieu of BUAD 497.

Participate in a full semester University of Richmond approved study abroad program or complete a course with an international business or international business economics focus. This international focus course also may satisfy a concentration or major requirement.

Required accounting core courses:

ACCT 301 Intermediate Financial Accounting I
ACCT 302 Intermediate Financial Accounting II
ACCT 305 Cost and Managerial Accounting
ACCT 307 Accounting Information Systems
ACCT 312 Federal Tax 1
ACCT 417 Auditing
ACCT 431 Advanced Financial Accounting

Substitutions in the accounting major are permitted if approved by the chair of the accounting department.

Note: A grade point average of no less than 2.0 in the accounting coursework comprising the major is required.

All students declaring a major or minor in the Robins School of Business must first pass an online Excel competency exam. Students will have three attempts to demonstrate competency with a grade of 80% or higher. This is not for a grade or academic credit.

Concentration

The Accounting Concentration

The accounting concentration is available only to students enrolled full time in the Robins School of Business with another concentration in economics, finance, international business, management, or marketing.

In addition to satisfying the B.S.B.A. degree requirements for a Robins School major, the accounting concentration requires a minimum of four courses and a maximum of six chosen from:

ACCT 301 Intermediate Financial Accounting 1 (required)
ACCT 302 Intermediate Financial Accounting 2 (required)

Two to four courses additional, chosen from:

ACCT 305 Cost and Managerial Accounting
ACCT 307 Accounting Information Systems
ACCT 312 Federal Tax 1
ACCT 313 Federal Tax 2
ACCT 417 Auditing
ACCT 431 Advanced Financial Accounting

Notes: Both ACCT 301 and ACCT 302 are required in the concentration. Some of the accounting courses are not offered every semester or every year. Many of the upper-level accounting courses have prerequisites that should be taken into account when planning your curriculum.

Courses
ACCT 201 Fundamentals of Financial Accounting
Units: 1
Description
Basic theory, concepts, and procedures necessary to develop and interpret financial (external) accounting reports.
ACCT 202 Fundamentals of Managerial Accounting
Units: 1
Description
Basic theory, concepts, and procedures necessary to develop and interpret managerial (internal) accounting reports.
Prerequisites
Accounting 201.
ACCT 301 Intermediate Financial Accounting 1
Units: 1
Description
Instruction on technical aspects and the theoretical development of the income statement, balance sheet, and statement of cash flows. Teaching methodologies include group work, class discussion, computer and written assignments, problem-solving exercises, as well as traditional lectures.
Prerequisites
ACCT 201.
ACCT 302 Intermediate Financial Accounting 2
Units: 1
Description
Instruction on technical aspects and the theoretical development of the income statement, balance sheet, and statement of cash flows. Teaching methodologies include group work, class discussion, computer and written assignments, problem-solving exercises, as well as traditional lectures.
Prerequisites
ACCT 301
ACCT 305 Cost and Managerial Accounting
Units: 1
Description
Study of effective product and service costing and use of accounting information for effective planning and control decisions, with emphasis on world-class organizations.
Prerequisites
ACCT 301 and junior or senior standing.
ACCT 307 Accounting Information Systems
Units: 1
Description
Introduction to information systems with specific emphasis on relational databases, business processes, information systems related risk, and internal controls.
Prerequisites
Accounting 301. Business School major.
ACCT 311 Commercial Law for Accountants
Units: 1
Description
Principles of law relating to the Uniform Commercial Code with emphasis on sales, commercial paper, secured transactions, banking laws, bailments and documents of title. Other topics may include real and personal property laws, insurance law, trusts and estates, agency, partnerships, corporations, and bankruptcy. Does not count toward the four upper-level accounting courses required for the accounting concentration.
Prerequisites
Accounting 301. Declared major or concentration in Accounting.
ACCT 312 Federal Tax 1
Units: 1
Description
Introduction to U.S. Federal taxation of business enterprises in the United States. Subjects covered include a determination of taxable income, exclusions, deductions, and credits. Will include a brief overview of individual taxation.
Prerequisites
Accounting 301. Business School major.
ACCT 313 Federal Tax 2
Units: 1
Description
Expanded study of federal tax laws affecting the various corporate entities, partnerships, estates, and trusts. Will also cover additional topics involving individual taxation.
Prerequisites
Accounting 312. Business School major.
ACCT 328 Directed Independent Study
Units: .5-1
Description
Independent research on an accounting topic conducted under the direct supervision of an instructor.
Prerequisites
Permission of instructor.
ACCT 329 Selected Topics
Units: .5-1
Description
Significant or current accounting topics not covered in other courses to enhance the accounting major.
Prerequisites
ACCT 202 and permission of instructor. Accounting major.
ACCT 417 Auditing
Units: 1
Description
Professional standards for evaluating and reporting on financial statements, and the ethical, legal, and competitive environment of auditing.
Prerequisites
Accounting 302. Business School major.
ACCT 418 Advanced Auditing
Units: 1
Description
Specialized audit topics including operational and compliance audits, attestation engagements, statistical sampling, use of generalized audit software, audits of computer systems, and work paper preparation.
Prerequisites
ACCT 417.
ACCT 421 Accounting Research
Units: .5
Description
Basic theory, concepts, and procedures to effectively handle research in the accounting professional standards including the Accounting Standards Codification, the AICPA Professional Standards, the PCAOB Professional Standards and the Internal Revenue Code.
Prerequisites
ACCT 302 and senior standing
ACCT 431 Advanced Financial Accounting
Units: 1
Description
Specialized problem solving in accounting for business combinations, consolidations and foreign transactions.
Prerequisites
ACCT 302.