Accounting
The objective of the accounting curriculum sequence is to prepare students for a career, either in accounting or a related field. This curriculum is broad in scope and coverage, so it is relevant and useful for careers in public accounting, industry, financial institutions, government, information systems, law, and not-for-profit organizations.
There are three concentrations housed in the Accounting Department: (1) Accounting, (2) Accounting for Finance and Consulting, and (3) Accounting and Information Systems. Students are not permitted to concentrate in more than one of these.
Students outside of CSOM will be able to complete one of two minors in accounting, Accounting for CPAs and Accounting for Finance and Consulting. The requirements for a minor are based on a selection of the required and elective courses for the Accounting and the Accounting for Finance and Consulting concentrations.
Concentration in Accounting
The objective of the accounting curriculum sequence is to prepare students for a career, either in accounting or a related field. This curriculum is broad in scope and coverage, so it is relevant and useful for careers in public accounting, industry, financial institutions, government, information systems, law, and not-for-profit organizations. Students intending to acquire a Certified Public Accountant (CPA) designation should choose this concentration to best satisfy its requirements.
Objectives
The objectives of the Accounting Concentration are as follows:
(1) Prepare the student to successfully pass the CPA exam. The exam includes three core parts - covering financial reporting, auditing, and tax – and a fourth part chosen by the candidate (business analysis, information systems, or tax compliance). The course requirements for the concentration provide a sound basis for preparing students to successfully pass each section of the exam. Passing the CPA exam and becoming a licensed accountant opens the door to many careers in addition to professional accounting. The CPA designation not only signals a specific set of skills but is also indicative of the dedication and rigorous analytical skills useful in numerous nonaccounting pursuits.
(2) Provide a broad-based understanding of the use of accounting data and information by managers and others for decision-making. Although most graduates with an Accounting Concentration begin their careers in public accounting, the mid- and long-term career options are diverse, and our graduates now hold key positions in corporate finance, human resources, marketing, economics, entrepreneurship, government, education, and many other fields.
REQUIRED 15 credits hours in:
- ACCT1022 Managerial Accounting
- ACCT3301 Financial Accounting Standards and Theory I
- ACCT3302 Financial Accounting Standards and Theory II
- ACCT3307 Managerial Cost and Strategic Analysis
- ACCT4405 Federal Taxation
· AND at least 3 credits from one of the following four courses only:
- ACCT3309 Audit and Other Assurance Services*
- ACCT3351 Financial Statement Analysis
- ACCT6601 Financial Accounting Standards and Theory III (Spring)
- ACCT6618 Accounting Information Systems
*Auditing is a requirement to sit for the CPA exam in all states.
Most states require eight to eleven accounting classes (24 to 33 accounting credit hours) to be qualified as a Certified Public Accountant (CPA). Because the accounting concentration requires only six accounting classes (18 credits), in addition to ACCT1021 Financial Accounting (3 credit hours) included in the CSOM core, a student must take additional accounting classes. The department offers a number of accounting electives that students can take to satisfy their CPA requirements.
After taking ACCT3301, students desiring to switch from the Accounting Concentration to the Accounting for Finance and Consulting Concentration may do so by supplementing ACCT3301 with a one-credit independent study that together will satisfy the ACCT3321 requirement for that concentration.
Accounting Department Electives
- ACCT3309 Audit and Other Assurance Services
- ACCT3330 ESG Reporting and Analysis: Accounting for a Changing World (Fall)
- ACCT3351 Financial Statement Analysis
- ACCT3399 Directed Readings and Research
- ACCT6601 Financial Accounting Standards and Theory III (Spring)
- ACCT6615 Advanced Federal Taxation
- ACCT6618 Accounting Information Systems
- ACCT6626 Taxes and Management Decisions (Spring)
- ACCT6634 Ethics and Professionalism in Accounting**
- ACCT6635 Forensic Accounting
** Please note: Massachusetts is no longer accepting this course as one of the required 10 accounting classes.
Please check with the state where you plan to practice to see if this course will count towards your required Accounting credits.
Concentration in Accounting for Finance and Consulting
The Accounting for Finance and Consulting Concentration builds on the CSOM core curriculum and is a great complement to many other concentrations, including Finance, Marketing, and Business Analytics. Students with this concentration can pursue a wide variety of careers in business, including financial analysis, investment banking, consulting, marketing, and management training programs. Skills learned in this concentration position students for greater upward mobility in their career paths, because the need for managers with an understanding of financial statements and financial reporting is evergreen. This concentration is designed to inform users of financial statements (rather than preparers of financial statements) how accounting information, shaped by regulation, has advantages and limitations in assessing the economics of an underlying business.
Objectives
The objectives of the Accounting for Finance and Consulting Concentrations are as follows:
(1) Expand and deepen your knowledge of external financial reporting and choices that managers make in preparing information for SEC filings. This knowledge is critical for both those who plan to use financial statements to analyze or value companies and those whose jobs require an understanding of how business decisions affect financial statements.
(2) Provide an understanding of the accounting data and information managers use for internal decision-making. For students interested in marketing or consulting, this knowledge enables you to accurately assess the true costs of producing a product or service and to identify the relevant information for make-versus-buy decisions. You will develop the skills needed to accurately forecast revenues, expenses, and product demand. You will also understand how to set important organizational controls.
(3) Provide students with the financial tools and accounting savvy needed to converse with upper-level management about the operations of the firm.
Guidelines and Courses
This concentration requires four courses (12 credit hours): one intermediate accounting course, one required elective in either managerial cost analysis or financial statement analysis, and two other electives from a set of approved electives in accounting, finance, business analytics, or economics. Please check the prerequisites for each course.
REQUIRED 3 credit hours in:
- ACCT3321 Intermediate Accounting for Finance and Consulting*
AND at least 3 credit hours from one of the following**:
- ACCT3307 Managerial Cost Analysis
- ACCT3351 Financial Statement Analysis
AND at least 6 credit hours from two of the following***:
- ACCT3307 Managerial Cost Analysis or ACCT3351 Financial Statement Analysis
- ACCT3309 Audit and Other Assurance Services
- ACCT3330 ESG Reporting and Analysis: Accounting for a Changing World (Fall)
- ACCT4405 Federal Taxation
- ACCT6601 Financial Accounting Standards and Theory III (Spring)
- ACCT6615 Advanced Federal Taxation
- ACCT6618 Accounting Information Systems
- ACCT6626 Taxes and Management Decisions (Spring)
- ACCT6635 Forensic Accounting
- BZAN3307 Machine Learning
- BZAN3375 Operations Strategy and Consulting
- BZAN6606 Forecasting Techniques
- ECON2228 Econometric Methods
- MFIN2235 Investment Banking
- MFIN6616 Intro to the Investment Banking Industry
*Students desiring to switch from the Accounting concentration after taking ACCT3301 (FAST I) have two options. You may take a one-credit independent study which, together with ACCT3301, will satisfy the ACCT3321 requirement. Alternatively, you may take ACCT3302 as one of your electives. Both courses together will satisfy the ACCT3321 requirement.
**Both classes may be taken, and the second one will count as an elective.
***A maximum of one elective can count towards the requirements of two different concentrations.
Concentration in Accounting and Information Systems *
Employers continually emphasize the value of graduates who understand both business and the information system (IS) that supports it. While IS professionals develop competence in the design and implementation of business information systems, accountants have a broad understanding of the business process and controls and how the systems are used to generate information for decision-making. Having the two skill sets is invaluable.
Students fulfilling this concentration will satisfy all of the requirements for the IS concentration and also obtain a background in Accounting. The curriculum entails five courses (four required and one Accounting elective) and is designed for students interested in careers either with the consulting divisions of professional service firms, such as major accounting firms and IS departments of companies, or as IS auditors. Students are advised to see a faculty advisor in selecting an appropriate Accounting elective. This concentration is administered jointly by the Accounting Department and the Information Systems Department.
*This Concentration ends with the class of 2025.
Required 12 credit hours in:
- ACCT3301 Financial Accounting Standards and Theory I
- ACCT6618/ISYS6618 Accounting Information Systems
- ISYS3257 Database Systems and Applications (or CSCI2257)*
- ISYS4258 Systems Analysis and Design
*Beginning with the class of 2024, ISYS3350 Data Management for Analytics and Applications will be required in place of ISYS3257 or CSCI2257.
And at least 3 credit hours from one of the following:
- ACCT3302 Financial Accounting Standards and Theory II
- ACCT3307 Managerial Cost and Strategic Analysis
- ACCT3309 Audit and Other Assurance Services
- ACCT3351 Financial Statement Analysis
Accounting for CPAs Minor
This minor is for students who are interested in working in public accounting. Please note: To meet the CPA requirements, students will need several courses beyond the minor.
The objective of the accounting curriculum sequence is to prepare the student for a professional career in public accounting, industry, financial institutions, government, information systems, law, or not-for-profit organizations. The curriculum is broadly based on its scope and coverage so as to be relevant and useful for a variety of careers. Students intending to acquire a Certified Public Accountant (CPA) designation should choose this minor to best satisfy its requirements. For more information, see the discussion of the Accounting Concentration.
Please note: This MCAS minor does not ensure that a student meets all requirements for sitting for the CPA exam. For instance, most states require a significant number of general business classes to sit for the CPA exam. This minor is only meant to give an MCAS student a start on meeting the many requirements. Interested students can work with faculty to construct a sequence of courses that will satisfy the requirements to sit for the CPA exam.
REQUIRED 18 credit hours in:
- ACCT1021 Intro to Financial Accounting
- ACCT3301 Financial Accounting Standards and Theory I
- ACCT3302 Financial Accounting Standards and Theory II
- ACCT3307 Managerial Cost Analysis
- ACCT3309 Auditing and Other Assurance Services*
- ACCT4405 Federal Taxation
*Auditing is a requirement to sit for the CPA exam in all states.
Most states require eight to eleven accounting classes (24 to 33 accounting credit hours) in order to be qualified as a Certified Public Accountant (CPA). Because the accounting minor requires only six accounting classes (18 credit hours), a student must take additional accounting classes. The department offers a number of accounting electives that students can take to satisfy their CPA requirements.
After taking ACCT3301, students desiring to switch to the Accounting for Finance and Consulting minor may do so by supplementing ACCT3301 with a one-credit independent study that together will satisfy the ACCT3321 requirement for that minor.
Accounting Department Electives
- ACCT1022 Managerial Accounting
- ACCT3330 ESG Reporting and Analysis: Accounting for a Changing World (Fall)
- ACCT3351 Financial Statement Analysis
- ACCT3399 Directed Readings and Research
- ACCT6601 Financial Accounting Standards and Theory III (Spring)
- ACCT6615 Advanced Federal Taxation
- ACCT6618 Accounting Information Systems
- ACCT6626 Taxes and Management Decisions (Spring)
- ACCT6634 Ethics and Professionalism in Accounting*
- ACCT6635 Forensic Accounting
*Please note: Massachusetts is no longer accepting this course as one of the required 10 accounting classes. Please check with the state you plan to practice in to see if this course will count towards your required Accounting credits.
Accounting for Finance and Consulting Minor
The Accounting for Finance and Consulting minor leverages the critical thinking and communication skills developed in the MCAS curriculum, providing students with key skills that distinguish them from other new hires in financial services or consulting. It also provides students with an advantage in graduate business programs.
Objectives:
The objectives of the Accounting for Finance and Consulting minor are:
(1) Develop your knowledge of external financial reporting and choices that managers make in preparing information for SEC filings. This knowledge is critical for both those who plan to use financial statements to analyze or value companies and those whose jobs require an understanding of how business decisions affect financial statements.
(2) Provide an understanding of the accounting data and information managers use for internal decision-making. For students interested in consulting, this knowledge enables you to accurately assess the true costs of producing a product or service and to identify the relevant information for make-versus-buy decisions. You will develop the skills needed to accurately forecast revenues, expenses, and product demand. You will also understand how to set important organizational controls.
(3) Provide students with the financial tools and accounting savvy needed to converse with upper-level management about the operations of the firm.
Requires 18 credit hours:
Required Courses:
- ACCT1021 Financial Accounting
- ACCT3321 Intermediate Accounting for Finance and Consulting*
Choose a Track:
Consulting Track
- ACCT1022 Managerial Accounting
- ACCT3307 Managerial Cost Analysis
Finance Track
- MFIN1021 Fundamentals of Finance
- ACCT3351 Financial Statement Analysis
AND 6 credit hours from the following list of electives (check the prerequisites for each course).**
- ACCT1022 Managerial Accounting and ACCT3307 Managerial Cost and Strategic Analysis
- ACCT3309 Audit and Other Assurance Services
- ACCT3330 ESG Reporting and Analysis: Accounting for a Changing World (Fall)
- ACCT4405 Federal Taxation
- ACCT6601 Financial Accounting Standards and Theory III (Spring)
- ACCT6615 Advanced Federal Taxation
- ACCT6618 Accounting Information Systems
- ACCT6626 Taxes and Management Decisions (Spring)
- ACCT6635 Forensic Accounting
- BZAN3307 Machine Learning
- BZAN3375 Operations Strategy & Consulting
- BZAN6606 Forecasting Techniques
- ECON2228 Econometric Methods
- MFIN1021 Fundamentals of Finance and ACCT3351 Financial Statement Analysis
- MFIN2235 Investment Banking
- MFIN6616 Intro to the Investment Banking Industry
*Students wanting to switch from the Accounting for CPA minor after taking ACCT3301 (FAST I) have two options. You may take a one-credit independent study which, together with ACCT3301, will satisfy the ACCT3321 requirement. Alternatively, you may take ACCT3302 as one of your electives. Both courses together will satisfy the ACCT3321 requirement.
**Electives may also include both courses from the other track (both will count together, but not separately). A maximum of one elective can count towards the requirements of two different minors/concentrations.
Information for Study Abroad
Given the international scope of the profession, Accounting concentrators are encouraged to study abroad. The Accounting Department will endeavor to recognize elective courses for transfer to BC when appropriate. Prior approval is required in every case. All Accounting concentrators or minors should meet with the department assistant chair or department chair to plan their study abroad programs and to obtain definitive course approvals.
CPA Recommendations
The Department recommends that students who intend to practice as Certified Public Accountants (CPAs) check the board of accountancy of the state in which they plan to practice for its specific educational requirements (nasba.org). In almost all states, students are now required to complete 150 semester hours of course work to qualify for CPA licensure. In addition, a minimum number of accounting courses with specific topical coverage may be necessary. For more information please refer to the BC Guide to Meeting CPA Requirements available online or in the department office.
Because Boston College students typically graduate with only 120 credit hours (ignoring AP credits and overloads), students may require an extra year of course work in order to meet the 150 credit hours. Most undergraduates are able to meet the additional hours through AP credit transfers, overloads, and/or online/summer courses. However, Boston College offers a Master of Science in Accounting (M.S.) program to meet these additional requirements. For more details on the program, refer to the Boston College M.S. website: bc.edu/msa. Students who enter BC with Advanced Placement credits may be able to satisfy the 150-hour requirement in less time. Please contact the Accounting Department in Fulton 520 or via e-mail at csom.accounting@bc.edu if you have any additional questions.