Department Office: 360 Wohlers Hall, 1206 South Sixth, Champaign, (217) 333-0857
For the Degree of Bachelor of Science in Accountancy
Organizations are a nexus of contracts, implicit and explicit, among resource owners who contract with each other to the benefit of all. In most complex organizations, these contracts specify who has the knowledge, and thus the rights, to make decisions about the use and control of the contracted resources. The effectiveness and efficiency of decisions regarding initiation, execution, and monitoring of organizations' contracts depend on the quantity and quality of information available. The accountant assists in the development, accumulation, evaluation, and dissemination of the information necessary for contracting parties to make effective and efficient contracting decisions. Organizations, in turn, contract with various segments of society such as labor unions, capital markets, regulatory agencies, and governments. The accountant assists in the development, accumulation, evaluation, and dissemination of the information necessary for ensuring that organizations comply with the terms of their social contracts.
Study in accountancy is designed to prepare individuals for entry into the accountancy professions independent of subsequent specialization. This preparation includes knowledge of the activities of organizations, businesses, and accounting practices; intellectual, interpersonal, and communication skills; and personal capabilities and professional attitudes. Specializations in accountancy include such fields as financial accounting, management accounting, accounting information systems, taxation, and auditing. Specialization in an accounting field requires additional graduate education and practical experience.
In addition to the accountancy major requirements, students in accountancy must meet the University General Education requirements and the College of Business core requirements (for more detail, see the College of Business undergraduate section).
Minimum requirements in the major for the Bachelor of Science Degree in Accountancy are:
|3||ACCY 301 - Accounting Measurement & Disclosure|
|3||ACCY 302 - Decision Making for Accountancy|
|3||ACCY 303 - Accounting Institutions & Regulation|
|3||ACCY 304 - Accounting Control Systems|
|3||ACCY 312 - Principles of Taxation|
|3||ACCY 405 - Assurance & Attestation or ACCY 415 - Auditing Standards and Practice|
|3||Major elective. Choose one of the following:|
|ACCY 410 - Advanced Financial Reporting|
|ACCY 451 - Advanced Income Tax Problems|
Accountancy courses (both required and elective) to be applied toward the 124-hour requirement for the Bachelor of Science Degree in Accountancy may not be taken on a credit/no-credit basis. In addition, a limit of 33 hours of accountancy courses (including ACCY 201 and ACCY 202) may be counted toward the 124 total hour requirement.