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Undergraduate Catalog 2013-2014

ACCOUNTING (BMGT)

The Robert H. Smith School of Business
1570 Van Munching Hall, 301-405-2286
www.rhsmith.umd.edu/undergrad
undergradinfo@rhsmith.umd.edu
Chair: M. Loeb
Professors: L. Gordon, O. Kim, M. Loeb, S. Loeb
Associate Professors: S. Cheng, R. Hann, M. Kimbrough
Assistant Professors: S. Brown, H. Lee, N. Seybert (Asst Prof, Lecturer), J. Staihar
Lecturers: P. Basu (Tyser Teaching Fellow), E. Browning (Lecturer), G. Bulmash (Distinguished Tyser Teaching Fellow), M. Finch (Tyser Teaching Fellow), S. Handwerger (Lecturer), J. Johnson (Lecturer), M. Keim (Lecturer), J. Lager, J. McKinney (Tyser Teaching Fellow), J. Milton (Lecturer), G. Pfeiffer, A. Ramirez, A. Ruygrok (Lecturer), A. Siegfried (Lecturer)
Adjunct Professors: E. Cantor, E. Folsom, K. Hardy, P. McPhun, L. Mostow, S. Rose, D. Sites, N. Webb
Visiting Faculty: L. Zhou

The Major

Accounting, in a limited sense, is the analysis, classification, and recording of financial events and the reporting of the results of such events for an organization. In a broader sense, accounting consists of all financial systems for planning, controlling, and appraising performance of an organization. Accounting includes among its many facets: financial planning, budgeting, accounting systems, financial management controls, financial analysis of performance, financial reporting, internal and external auditing, and taxation. The accounting curriculum provides an educational foundation for careers in public accounting and management, whether in private business organizations, government or nonprofit agencies, or consulting. Two tracks are provided: The Public Accounting Track leading to the CPA (Certified Public Accounting) and the Management Accounting/Consulting Track. Please note: Currently, only the Public Accounting track is available.

Admission to the Major

See Robert H. Smith School of Business entry in chapter 6 for admission requirements.

Requirements for the Major

 

 

  All Accounting Majors: Credits
BMGT310 Intermediate Accounting I 3
BMGT311 Intermediate Accounting II 3
BMGT321 Managerial Accounting 3
BMGT326 Accounting Systems 3
     
  Accounting Majors must complete an additional 12 credits from one of the following tracks.  
 
Public Accounting Track:
 
BMGT323 Taxation of Individuals* 3
BMGT411 Ethics and Professionalism in Accounting*  3
BMGT422 Auditing Theory & Practice* 3
     
  One of the following: 3
BMGT410 Government Accounting  
BMGT417 Taxation of Corporations, Partnerships and Estates  
BMGT423 Fraud Examination  
BMGT424 Advanced Accounting  
BMGT427 Advanced Auditing Theory & Practice  
BMGT428 Special Topics in Accounting  
 
Management Accounting/Consulting Track:
BMGT426 Advanced Managerial  Accounting 3
  Three of the following: 9
BMGT305 Survey of Business Information Systems and Technology  
BMGT323 Taxation of Individuals*  
BMGT332 Operations Research for Management Decisions  
BMGT385 Operations Management  
BMGT402 Database Systems  
BMGT403 Systems Analysis and Design  
BMGT410 Government Accounting  
BMGT411 Ethics and Professionalism in Accounting*   
BMGT417 Taxation of Corporations, Partnerships and Estates  
BMGT423 Fraud Examination  
BMGT424 Advanced Accounting  
BMGT428 Special Topics in Accounting  
BMGT430 Linear Statistical Models in Business  
BMGT434 Introduction to Optimization  
BMGT440 Advanced Financial Management  
BMGT446 International Finance  
 
Upper Level Economics Requirement
One of the following courses:
3
ECON305 Intermediate Macroeconomic Theory and Policy  
ECON306 Intermediate Microeconomic Theory  
ECON330 Money and Banking  
ECON340 International Economics  
 
Total Credits for Accounting
and Economics
27

* Required for CPA in Maryland

In addition to the major requirements listed above, please consult Chapter 6 or www.rhsmith.umd.edu for a listing of additional Smith School degree requirements that apply to all Smith School majors.

The basic educational requirements of the Maryland State Board of Public Accountancy to sit for the CPA examination are a baccalaureate or higher degree with a major in Accounting or with a non-accounting degree supplemented by course work the Board determines to be substantially the equivalent of an Accounting major. Students planning to take the CPA examination for certification and licensing outside Maryland should determine the educational requirements for that state and arrange their program accordingly.

120 credits are required to complete a degree in Accounting; however, students seeking to become a Certified Public Accountant (CPA) must meet the certification requirements for the state in which they wish to practice. Most states, including Maryland, require a minimum of 150 credit hours of college education to fulfill the education requirements to obtain a CPA license. However many of these states, including Maryland, will allow applicants to take the CPA exam prior to earning 150 credits if they have accumulated 120 credits, earned a degree, and meet specified education requirements. In addition, do not assume the course and credit requirements for the accounting major are sufficient for all states. For details on various states' CPA requirments visit www.nasba.org .

Advising

General advising for students admitted to the Smith School of Business is available Monday through Friday in the Office of Undergraduate Programs, 1570 Van Munching Hall, 301-405-2286, undergradinfo@rhsmith.umd.edu. It is recommended that students visit this office each semester to ensure that they are informed about current requirements and procedures. Transfer students entering the university can be advised during spring, summer, and fall transfer orientation programs. Contact the Orientation Office for further information, 301-314-8217.

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