Accounting Archive 2019-2020
Mission and Vision
Mission
The mission of the Sawyer Business School's Accounting Department is to provide a quality accounting and tax education in contemporary subject matters, to prepare students to face challenges of a global business environment, and to appreciate the value of ethical behavior and reputation. It is our mission to earn an excellent reputation for the quality of our graduates, our teaching, and our research, as well as advance relationships within the professional communities.
Vision
The Accounting Department at Suffolk University will offer high-quality, cutting-edge, rigorous programs of instruction for undergraduate and graduate students of diverse backgrounds and interests. We will ensure our graduates are versatile and well-prepared for dynamic careers in accounting and taxation. We will support scholarly inquiry that values scholarship in all its forms including the generation of knowledge, the integration and dissemination of knowledge, creative activity, and scholarly reflection. We will inspire investment in an inclusive department that is built on ethical, forward-looking leadership, teamwork, and cooperation.
Professional Requirements
The Commonwealth of Massachusetts mandates a minimum of 120 semester hours, with specific course requirements, to sit for the Uniform CPA Exam. To apply for a CPA license, 150 semester hours are required, earned as part of a bachelor’s degree, master’s degree, or both. The Accelerated Bachelor's/Master's Degree (4+1 Program) enables students to satisfy the Massachusetts licensure educational requirements and prepares students for the successful completion of the CPA Exam and careers in accounting. Students who plan to qualify as CPAs in states other than Massachusetts should ascertain from the respective states or jurisdictions the specific requirements with which they must comply.
Suffolk’s Accelerated Bachelor's/Master's Degree prepares you for a professional career as an accountant. Our elective options are designed to prepare you for rewarding careers in various fields in addition to public accounting such as corporate accounting, international accounting, fraud investigation, tax advising, financial planning, not-for-profit accounting, and governmental accounting.
Accounting course offerings are designed to allow completion of the accounting major through part-time or full-time study, in day and evening courses.
Accounting Major Requirements Archive 2019-2020
The BSBA in Accounting requires completion of 24 credit hours in accounting beyond the completion of ACCT 201 Accounting for Decision Making I, and ACCT 202 Accounting for Decision Making II. A cumulative grade point average of at least 2.0 in the Accounting Major and a cumulative grade point average of 2.0 overall must be maintained to graduate.
Accounting majors must complete 160 hours of pre-professional or professional accounting experience prior to graduating.
Accounting majors are assigned a faculty advisor from the Accounting Department to assist them in planning their program of studies and advise them on academic and career matters.
Degree Requirements - 124 credits
Students can earn a bachelor of science in business administration with this major. See the requirements for the bachelor of science in business administration degree.
Required Courses (7 courses, 21 credits)
ACCT-320 Federal Taxation
ACCT 202
3.00
Focuses on the federal income taxation of individuals with some discussion of business taxation. Explores the basic structure of individual income taxation, including the individual tax formula, income, deductions, and credits, and provides an introduction to property transactions. Emphasizes how tax laws affect everyday personal and business decisions.
ACCT-321 Intermediate Accounting I
ACCT-201 and ACCT-202 and Junior standing
3.00
Reviews basic financial accounting concepts and examines selected balance sheet and income statement items. The focus of this communication intensive course is on the valuation and reporting of current and non-current assets and liabilities and the income determination aspects of these items.
ACCT-322 Intermediate Accounting II
ACCT-321 with a minimum grade of C
3.00
Continues to examine selected balance sheet and income statement items. The focus of this communication intensive course is on the valuation and reporting of investments and stockholders' equity and the income determination aspects of these items. Also considers special topics such as pensions, leases, deferred taxes, and cash flows.
ACCT-331 Cost Accounting
ACCT 202
3.00
Explores concepts and procedures underlying the development of a cost accounting system for managerial decisions, control, and performance reporting. Introduces the basic ideas of responsibility accounting.
ACCT-430 Accounting Information Systems
ACCT 322 and ISOM-210
3.00
Introduces the design, operation, and use of accounting information systems. Examines the functional relationships of the AIS within an organization. Provides a background in automated data processing, along with the important human and organizational considerations in system design and implementation.
ACCT-431 Auditing and Assurance Services
ACCT 321 AND ACCT 331
3.00
Provides an introduction to the field of auditing, with a concentration in auditing historical financial statements in accordance with generally accepted auditing standards, and some exposure to auditing the internal control over financial reporting of large public companies. Covers the environment, standards, regulation, and law of auditing in the US, with some exposure to the international environment. Covers audit planning, risk, and material assessments, audit evidence, evaluation of internal control, documentation, and audit reports.
ACCT-450 Accounting Theory and Practice
ACCT 431 (may be taken Concurrently), ACCT 322 and Senior Status
3.00
Covers accounting procedures involved in business combinations and consolidated financial statements. Topics also include accounting for partnerships, various foreign currency issues, and the role of regulatory authorities in financial reporting. Core elements include enhancing critical thinking skills and analytical thinking. Also, this course provides practice in using oral communication for impact, and anticipating and managing ethical conflicts.
Elective Courses (1 course, 3 credits)
ACCT-310 International Business Accounting
FIN-200 and ACCT-321
3.00
Explores economic, political and cultural variables that shape accounting and disclosure in various countries. Students gain an understanding of international financial reporting standards and the forces for convergence between IFRS and US GAAP. Presents financial analysis in a multi-financial context.
ACCT-414 Entity Taxation
ACCT-320
3.00
This course will develop the student's understanding of tax law for business entities including corporation and pass-through structures. In this course we will explore the unique features of both types of entities, their tax implications, impacts on business decision-making, and other attributes through the use of problems and cases.
ACCT-415 Not-For-Profit Accounting and Control
ACCT 331
3.00
Studies accounting principles, unique financial reporting (such as fund accounting), and budgetary control in government agencies and charitable, healthcare, educational, and other not-for-profit organizations.
ACCT-520 Accounting Internship
ACCT 321 (may be taken concurrently)
3.00
This course is designed to accompany a pre-professional or professional experience (internship, part-time, or full-time employment) of at least 160 hours that the student has pre-arranged for the current semester. It is designed to enhance the student's experience by developing the student's professional acumen, research skills, and understanding of the business environment in which s/he is working. Input from the employer is expected at designated stages of the experience. On-campus class sessions will only be held at the start and end of the semester. All other course related meetings will take place virtually. Successful completion of this course satisfies the Accounting Department's practicum requirement (ACCT 560). Registration is only permitted with permission of the instructor.
ACCT-560 Accounting Practicum
Course Coordinator consent required
0.00
All accounting majors are required to complete 160 hours of pre-professional or professional accounting or tax experience prior to graduating. The hours may be obtained through one or more accounting or tax (a) internships, (b) part- or full-time employment, or (c) cooperative education positions. Hours may also be obtained through participation in Suffolk's Free Tax Preparation Clinic (SBS 555,SBS 556, and SBS 557 - each year will earn students 55 hours). Approval of the 160 hours work experience must be obtained in advance of beginning the work by completing a Practicum Approval Form and emailing it to [email protected]. Students are registered for the Accounting Practicum upon completion of the 160 hours and approval by the Accounting Department. Students should journal their work tasks and accomplishments. This experiential component carries no academic credit, does not require any tuition, and will be graded pass/fail.
Required Experiential Component (Non-Credit)
All accounting majors must obtain at least 160 hours of pre-professional accounting experience prior to graduation. These hours may be accumulated through one or more of the following accounting or tax experiences: (a) internship; (b) part- or full-time employment; (c) cooperative education position; and/or (d) enrollment in Suffolk's VITA Clinic (each semester of participation will earn students 55 hours towards the 160 hour total).
To satisfy this requirement for graduation, students may register for and complete ACCT 520 (3 credit Accounting elective – see separate course description), may participate in Suffolk’s VITA Clinic (SBS 555, SBS 556, and SBS 557 – see separate course descriptions), and/or may satisfy this requirement with ACCT 560 (carries no academic credit, requires no tuition, and will be graded pass/fail. The Accounting department will register students for ACCT 560 after the 160 hours have been completed and all other requirements have been met.)
All experiences require pre-approval from either the instructor (ACCT 520 or SBS 555-557) or the Accounting department. All international students must also obtain additional approval from CPT.
For any additional questions related to this requirement, please email us or see your Accounting faculty advisor.
ACCT-560 Accounting Practicum
Course Coordinator consent required
0.00
All accounting majors are required to complete 160 hours of pre-professional or professional accounting or tax experience prior to graduating. The hours may be obtained through one or more accounting or tax (a) internships, (b) part- or full-time employment, or (c) cooperative education positions. Hours may also be obtained through participation in Suffolk's Free Tax Preparation Clinic (SBS 555,SBS 556, and SBS 557 - each year will earn students 55 hours). Approval of the 160 hours work experience must be obtained in advance of beginning the work by completing a Practicum Approval Form and emailing it to [email protected]. Students are registered for the Accounting Practicum upon completion of the 160 hours and approval by the Accounting Department. Students should journal their work tasks and accomplishments. This experiential component carries no academic credit, does not require any tuition, and will be graded pass/fail.
Accounting Learning Goals & Objectives
Learning goals and objectives reflect the educational outcomes achieved by students through the completion of this program. These transferable skills prepare Suffolk students for success in the workplace, in graduate school, and in their local and global communities.
| Learning Goals |
Learning Objectives |
|---|---|
| Students will... |
Upon completion of the program, each student should be able to... |
| Demonstrate information literacy, use analytical reasoning in problem-solving and decision-making situations, understand and employ theories, processes, and systems, and think and reflect critically. (Critical and Analytical Thinking) |
|
| Demonstrate the ability to effectively identify and communicate accounting ethical issues. (Ethics) |
|
| Indicate an understanding of how culture, economic and political issues affect accounting and business decisions. (Global Awareness) |
|
| Be able to effectively communicate in oral form. (Oral Communication) |
|
| Communicate effectively in writing. (Written Communication) |
|
Discipline Knowledge |
|
Accounting Minor Requirements Archive 2019-2020
Accounting Minor for Business Students (3 courses, 9 credits)
ACCT-321 Intermediate Accounting I
ACCT-201 and ACCT-202 and Junior standing
3.00
Reviews basic financial accounting concepts and examines selected balance sheet and income statement items. The focus of this communication intensive course is on the valuation and reporting of current and non-current assets and liabilities and the income determination aspects of these items.
ACCT-322 Intermediate Accounting II
ACCT-321 with a minimum grade of C
3.00
Continues to examine selected balance sheet and income statement items. The focus of this communication intensive course is on the valuation and reporting of investments and stockholders' equity and the income determination aspects of these items. Also considers special topics such as pensions, leases, deferred taxes, and cash flows.
ACCT-331 Cost Accounting
ACCT 202
3.00
Explores concepts and procedures underlying the development of a cost accounting system for managerial decisions, control, and performance reporting. Introduces the basic ideas of responsibility accounting.
Accounting Minor for College of Arts and Sciences Students (6 courses, 18 credits)
College of Arts and Sciences students who wish to undertake a functional business minor in accounting must first complete ENT 101 Business Foundations, and ACCT 201 and 202 (which may be completed in the sophomore year). The other accounting courses are taken in the junior or senior year.
After ENT 101, CAS students are required to take all of the following:
ACCT-201 Accounting for Decision Making I
MATH-128 or higher and WRI-102 or WRI-H103 or SBS-220
3.00
Introduces students to the accounting cycle, the financial statements, and the theory underlying accounting as information. Provides users of accounting information with a basic understanding of how to appraise and manage a business. Addresses current accounting topics, including relevant ethical and international issues found in the financial press.
ACCT-202 Accounting for Decision Making II
ACCT-201
3.00
Enables students to apply the concepts and skills from ACCT 201. They learn how to analyze the financial condition and performance of a firm, and how to use accounting information in business planning, decision-making, and control. Topics include cost-volume-profit analysis, costing systems, variance analysis, and the budget process. Discusses relevant current ethical and competitive issues found in the financial press.
ACCT-321 Intermediate Accounting I
ACCT-201 and ACCT-202 and Junior standing
3.00
Reviews basic financial accounting concepts and examines selected balance sheet and income statement items. The focus of this communication intensive course is on the valuation and reporting of current and non-current assets and liabilities and the income determination aspects of these items.
ACCT-322 Intermediate Accounting II
ACCT-321 with a minimum grade of C
3.00
Continues to examine selected balance sheet and income statement items. The focus of this communication intensive course is on the valuation and reporting of investments and stockholders' equity and the income determination aspects of these items. Also considers special topics such as pensions, leases, deferred taxes, and cash flows.
ACCT-331 Cost Accounting
ACCT 202
3.00
Explores concepts and procedures underlying the development of a cost accounting system for managerial decisions, control, and performance reporting. Introduces the basic ideas of responsibility accounting.
Accounting Undergraduate Courses Archive 2019-2020
ACCT-150 Introduction to Fraud Examination
3.00
Study of the varieties of fraud, including financial statement fraud, fraud against organizations, consumer fraud, bankruptcy fraud, tax fraud and e-commerce fraud. The causes, prevention, detection and investigation of fraud are explored. Examination of famous past frauds with hands-on cases are used to apply these concepts and to understand the resolution of fraud in the legal system.
ACCT-201 Accounting for Decision Making I
MATH-128 or higher and WRI-102 or WRI-H103 or SBS-220
3.00
Introduces students to the accounting cycle, the financial statements, and the theory underlying accounting as information. Provides users of accounting information with a basic understanding of how to appraise and manage a business. Addresses current accounting topics, including relevant ethical and international issues found in the financial press.
ACCT-H201 Honors Accounting for Decision Making I
MATH-128 or higher and WRI-102, WRI-103 or SBS-220, and at least a 3.3 GPA
3.00
Introduces students to the accounting cycle, the financial statements, and the theory underlying accounting as information. Provides users of accounting information with a basic understanding of how to appraise and manage a business. Addresses current accounting topics, including relevant ethical and international issues found in the financial press.
ACCT-202 Accounting for Decision Making II
ACCT-201
3.00
Enables students to apply the concepts and skills from ACCT 201. They learn how to analyze the financial condition and performance of a firm, and how to use accounting information in business planning, decision-making, and control. Topics include cost-volume-profit analysis, costing systems, variance analysis, and the budget process. Discusses relevant current ethical and competitive issues found in the financial press.
ACCT-H202 Honors Accounting for Decision Making II
ACCT 201; 3.3 GPA
3.00
Enables students to apply the concepts and skills from ACCT 201. They learn how to analyze the financial condition and performance of a firm, and how to use accounting information in business planning, decision-making, and control. Topics include cost-volume-profit analysis, costing systems, variance analysis, and the budget process. Discusses relevant current ethical and competitive issues found in the financial press.
ACCT-310 International Business Accounting
FIN-200 and ACCT-321
3.00
Explores economic, political and cultural variables that shape accounting and disclosure in various countries. Students gain an understanding of international financial reporting standards and the forces for convergence between IFRS and US GAAP. Presents financial analysis in a multi-financial context.
ACCT-320 Federal Taxation
ACCT 202
3.00
Focuses on the federal income taxation of individuals with some discussion of business taxation. Explores the basic structure of individual income taxation, including the individual tax formula, income, deductions, and credits, and provides an introduction to property transactions. Emphasizes how tax laws affect everyday personal and business decisions.
ACCT-H320 Honors Federal Taxation I
ACCT-202, SBS Honors Students Only
3.00
Focuses on the federal income taxation of individuals with some discussion of business taxation. Explores the basic structure of individual income taxation, including the individual tax formula, income, deductions, and credits, and provides an introduction to property transactions. Emphasizes how tax laws affect everyday personal and business decisions.
ACCT-321 Intermediate Accounting I
ACCT-201 and ACCT-202 and Junior standing
3.00
Reviews basic financial accounting concepts and examines selected balance sheet and income statement items. The focus of this communication intensive course is on the valuation and reporting of current and non-current assets and liabilities and the income determination aspects of these items.
ACCT-H321 Intermediate Accounting I
ACCT-201 and ACCT-202 and Junior standing and GPA at least 3.3
3.00
Reviews basic financial accounting concepts and examines selected balance sheet and income statement items. The focus of this communication intensive course is on the valuation and reporting of current and non-current assets and liabilities and the income determination aspects of these items.
ACCT-322 Intermediate Accounting II
ACCT-321 with a minimum grade of C
3.00
Continues to examine selected balance sheet and income statement items. The focus of this communication intensive course is on the valuation and reporting of investments and stockholders' equity and the income determination aspects of these items. Also considers special topics such as pensions, leases, deferred taxes, and cash flows.
ACCT-H322 Honors Intermediate Accounting II
ACCT-321 with a minimum grade of C; 3.3 GPA or higher
3.00
Continues to examine selected balance sheet and income statement items. The focus of this communication intensive course is on the valuation and reporting of investments and stockholders' equity and the income determination aspects of these items. Also considers special topics such as pensions, leases, deferred taxes, and cash flows.
ACCT-331 Cost Accounting
ACCT 202
3.00
Explores concepts and procedures underlying the development of a cost accounting system for managerial decisions, control, and performance reporting. Introduces the basic ideas of responsibility accounting.
ACCT-H331 Honors Cost Accounting
ACCT-202 and GPA 3.3 or higher
3.00
Explores concepts and procedures underlying the development of a cost accounting system for managerial decisions, control, and performance reporting. Introduces the basic ideas of responsibility accounting.
ACCT-414 Entity Taxation
ACCT-320
3.00
This course will develop the student's understanding of tax law for business entities including corporation and pass-through structures. In this course we will explore the unique features of both types of entities, their tax implications, impacts on business decision-making, and other attributes through the use of problems and cases.
ACCT-415 Not-For-Profit Accounting and Control
ACCT 331
3.00
Studies accounting principles, unique financial reporting (such as fund accounting), and budgetary control in government agencies and charitable, healthcare, educational, and other not-for-profit organizations.
ACCT-422 Federal Taxation II
ACCT 320
3.00
Covers advanced individual tax topics such as cost recovery, itemized deductions, passive activity losses, AMT, complex basis rules, and the operation and formation of C corporations.
ACCT-430 Accounting Information Systems
ACCT 322 and ISOM-210
3.00
Introduces the design, operation, and use of accounting information systems. Examines the functional relationships of the AIS within an organization. Provides a background in automated data processing, along with the important human and organizational considerations in system design and implementation.
ACCT-431 Auditing and Assurance Services
ACCT 321 AND ACCT 331
3.00
Provides an introduction to the field of auditing, with a concentration in auditing historical financial statements in accordance with generally accepted auditing standards, and some exposure to auditing the internal control over financial reporting of large public companies. Covers the environment, standards, regulation, and law of auditing in the US, with some exposure to the international environment. Covers audit planning, risk, and material assessments, audit evidence, evaluation of internal control, documentation, and audit reports.
ACCT-432 Advanced Accounting
ACCT-322 and junior standing
3.00
Covers accounting procedures involved in business combinations and consolidated financial statements. Topics also include accounting for partnerships, various foreign currency issues, corporations in financial distress, and the role of regulatory authorities in financial reporting.
ACCT-450 Accounting Theory and Practice
ACCT 431 (may be taken Concurrently), ACCT 322 and Senior Status
3.00
Covers accounting procedures involved in business combinations and consolidated financial statements. Topics also include accounting for partnerships, various foreign currency issues, and the role of regulatory authorities in financial reporting. Core elements include enhancing critical thinking skills and analytical thinking. Also, this course provides practice in using oral communication for impact, and anticipating and managing ethical conflicts.
ACCT-510 Independent Study
ACCT 322, ACCT 331 or approval from dept. chair
3.00
Independent study allows students to expand their classroom experience by completing research in an area of interest not already covered by Suffolk courses. The student designs a unique project and finds a full-time faculty member with expertise in that topic who agrees to sponsor it and provide feedback as the proposal is refined. A well designed and executed research project broadens and/or deepens learning in a major or minor area of study and may also enhance a student's marketability to potential future employers. Students cannot register for an Independent Study until a full proposal is approved by the faculty sponsor, department chair, and academic dean. Many Independent study proposals require revisions before approval is granted; even with revisions independent study approval is NOT guaranteed. Students are strongly encouraged to submit a proposal in enough time to register for a different course if the proposal is not accepted. For complete instructions, see the SBS Independent/Directed Study Agreement and Proposal form available online.
ACCT-520 Accounting Internship
ACCT 321 (may be taken concurrently)
3.00
This course is designed to accompany a pre-professional or professional experience (internship, part-time, or full-time employment) of at least 160 hours that the student has pre-arranged for the current semester. It is designed to enhance the student's experience by developing the student's professional acumen, research skills, and understanding of the business environment in which s/he is working. Input from the employer is expected at designated stages of the experience. On-campus class sessions will only be held at the start and end of the semester. All other course related meetings will take place virtually. Successful completion of this course satisfies the Accounting Department's practicum requirement (ACCT 560). Registration is only permitted with permission of the instructor.
ACCT-560 Accounting Practicum
Course Coordinator consent required
0.00
All accounting majors are required to complete 160 hours of pre-professional or professional accounting or tax experience prior to graduating. The hours may be obtained through one or more accounting or tax (a) internships, (b) part- or full-time employment, or (c) cooperative education positions. Hours may also be obtained through participation in Suffolk's Free Tax Preparation Clinic (SBS 555,SBS 556, and SBS 557 - each year will earn students 55 hours). Approval of the 160 hours work experience must be obtained in advance of beginning the work by completing a Practicum Approval Form and emailing it to [email protected]. Students are registered for the Accounting Practicum upon completion of the 160 hours and approval by the Accounting Department. Students should journal their work tasks and accomplishments. This experiential component carries no academic credit, does not require any tuition, and will be graded pass/fail.
SBS-555 Suffolk Free Tax Preparation Clinic I
Sophomore status or higher
1.00
SBS 555 is a one-credit course for undergraduate students volunteering with the Suffolk Free Tax Preparation Clinic, a tax preparation program that assists community members to complete their tax returns. Students will complete the required training and certification exams during class time before engaging in tax preparation service during the semester, including at least two Saturdays. To count this experience toward the Local Engagement Requirement, several reflective writing assignments are required and students must maintain professional and appropriate behavior in all interactions with the community members served. Students who are required to complete ACCT 560 can instead complete SBS 555, 556, and 557.
SBS-556 Suffolk Free Tax Preparation Clinic II
SBS-555
1.00
SBS 556 is a one-credit course for undergraduate students volunteering with the Suffolk Free Tax Preparation Clinic for the second time, a tax preparation program that assists community members to complete their tax returns. Students will complete the required training and certification exams during class time before engaging in tax preparation service and mentoring of fellow volunteers during the semester, including at least three Saturdays. Students who are required to complete ACCT 560 can instead complete SBS 555, 556, and 557.
SBS-557 Suffolk Free Tax Preparation Clinic III
SBS-555, SBS-556
1.00
SBS 557 is a one-credit course for undergraduate students volunteering with the Suffolk Free Tax Preparation Clinic for the third time, a tax preparation program that assists community members to complete their tax returns. Students will complete the required training and certification exams during class time before engaging in tax preparation service, mentoring fellow volunteers during the semester, and assisting with site coordination, including four Saturdays. Students who are required to complete ACCT 560 can instead complete SBS 555, 556, and 557.
Publication Date: May 26, 2020