Accountancy

SCHOOL OF PROFESSIONAL ACCOUNTANCY

B.S. in Accountancy


The 120-credit Bachelor of Science in Accountancy is ideal preparation for a career in the fields of accountancy, taxation and business services. Professors with extensive professional experience and top academic credentials lead small classes, interacting closely with students.

Students have opportunities for internships at the Big Four accounting firms, as well as mid-sized and small firms. In addition, the LIU Post Accounting Society and the Kappa Omicron Chapter of Beta Alpha Psi bring together practicing accounting professionals and accounting majors through formal and informal events throughout the year. It is common for students in the program to have offers of full-time employment even before graduating. Alumni of this program can be found in positions of leadership at major New York-based accounting and business services firms.


Program Curriculum

Course # Course Name Credits
Required Accounting Courses
(42 Credits)
ACC 11 Accounting Principles I
3
ACC 12 Accounting Principles II
ACC 21 External Reporting I
ACC 22  External Reporting II
ACC 61 Managerial Cost Analysis 
ACC 80 Accounting Information Systems 
ACC 82 Auditing
ACC 84 Tax & Business Strategies
ACC 85  Advanced Taxation
ACC 90 Applications in Accounting
 Business Electives (Choose 4 courses; 12 Credits)
FIN 11
Principles of Finance I  3
FIN 12 Principles of Finance II  3
LAW 13  Legal Environment of Business
LAW 19
Commercial Law and Business Transactions
MAN 11 Principles of Management
3
MIS 20  Information Systems Management 
MKT 11 Marketing Principles and Practices 
QAS 19 Business Analytics 3
QAS 20 Business Statistics
Other Required Courses (3 credits)
ORC 1  or ORC17   3
Liberal Arts and Sciences Electives
(31 Credits) 
Required Courses (which can be included in core or electives)
ECO 10 Introduction to Microeconomics 3
ECO 11 Introduction to Macroeconomics 3
MTH 4 Introductory Mathematics for Business 3
MTH 6 Calculus for Business and Social Science
ECO 1 or ECO 17 Public Speaking or Speech communication in Organizations
3
Students that do not display computer literacy (either through a placement exam or previous course work) may be required t take CLA 6 (3 credits)

Course # Course Name Credits
Required Core Courses
(32 Credits)
POST 101 Post Foundations 1
FY First-Year Seminar 3
ENG 1** Writing 1 3
ENG 2** Writing 2 3
MTH 5 Quantitative Reasoning
Choose one course from each of the five below course clusters and one additional course from one of the clusters.
Scientific Inquiry & the Natural World
4
Creativity Media & the Arts 3
Perspectives on World Culture 3
Self, Society & Ethics 3
Power, Institutions & Structures (ECO 10 Required) 3
One additional course from one of the five above clusters. (ECO 11 Required) 3

* Some courses may count as core and others as electives.

** In addition to ENG 1 and 2, students take at least 3 more writing intensive (WAC) courses as part of their major, core, or elective courses.  ENG 303 and 304 can satisfy the ENG 1 and 2 requirement for students in the Honors College.

Credit Requirements
Total Major Requirement Credits 42
Elective Major Credits 18
Total Core Requirement Credits 32
Elective Liberal Arts & Sciences Credits 28
Total Degree Credits 120
Public Speaking
Public Speaking

Courses

ACC 11 Accounting Principles I
This course presents an introduction to fundamental financial accounting principles, concentrating on identifying, recording, and communicating the economic events of a business organization. This course studies the theory and practice of accounting. Topics covered during the semester include the balance sheet, income statement, and principles required to understand financial accounting systems.
Credits: 3
Every Semester



ACC 12 Accounting Principles II
This course is the second in the accounting principles sequence. The first part of the course focuses on partnerships and the corporate form of business organization, including financial statement analysis and cash flow statements. Students are then introduced to managerial accounting concepts and how they can be used in fostering internal business decision-making. Information concerning the behavior of costs, profit planning, and budgeting is analyzed to enhance meaningful comprehension of managerial accounting. will provide students with a broad overview of IRD research. Topics to be covered include: general principles of theory, and concepts; research design, variables and hypotheses, citations and reference; international news sources and polling data; primary sources and repositories for diplomatic documents; a basic understanding of regression analysis; and the ability to create a research or policy paper as well as research reports. Prerequisite of ACC 11 is required.
Credits: 3
Every Semester



ACC 21 External Reporting I
This course focuses on the preparation and analysis of financial information for users external to the organization. Topics include the accounting cycle; income measurement, cash, receivables, inventories, operational assets, investments, and preparation of financial statements. Pronouncements of the AICPA, FASB, and SEC are an integral part of the course.
Credits: 3
Every Fall



ACC 22 External Reporting II
This course is a continuation of ACC 21 External Reporting I. This course is an in-depth study of the underlying concepts, measurement, analysis, and interpretation of financial information for external users. Topics include long-term liabilities, investments, stockholder's equity, earnings per share, leases, pensions, cash flow statements, accounting errors and changes, and deferred income taxes. Pronouncements of the AICPA, FASB, and SEC are an integral part of the course. Prerequisite of ACC 21 is required.
Credits: 3
Every Fall and Spring



ACC 61 Managerial Cost Analysis
This course provides an in-depth understanding of the theory and concepts underlying conventional cost systems and the rationale for the development and understanding of modern cost management systems including: 1) cost accumulation systems for product costing, cost behavior concepts for planning and control, and activity-based-costing; 2) the use of cost information for strategic decision analysis and support; and 3) financial planning and control systems with a quality management perspective. Prerequisite of ACC 21 required.
Credits: 3
Every Semester



ACC 80 Accounting Information Systems
This course develops an understanding of the roles of accounting information and information technology and their influence on decision making, operational support, and organizational competitiveness. The course will include, but not be limited to, the framework of accounting information systems and decisions that impact on their design and implementation, the role of accounting information systems in transaction processing and internal control, and the functions of the major subsystems. The student will also gain hands-on experience in using and in evaluating accounting information systems, as well as further develop collaborative, oral, and written communication skills. Prerequisite of ACC 21 is required.
Credits: 3
Every Semester



ACC 82 Auditing
This course provides an introduction to auditing, including basic concepts, techniques, and audit applications. Course coverage includes the audit risk model, understanding and testing internal controls, substantive testing, fraud, reports on audited financial statements, professional ethics, and an introduction to computer auditing. Prerequisites of AC 22 and ACC 80 are required.
Credits: 3
Every Semester




ACC 84 Tax and Business Strategies
Tax basics of all types of entities will be studied. The course stresses the importance of exposure to a range of tax concepts within the framework of financial reporting. Critical thinking and problem solving skills will be developed utilizing tax planning decision models. Recognition of tax savings and tax hazards will prepare students for many possible work environments. Corequisite of ACC 21 required.
Credits: 3
Every Fall



ACC 85 Advanced Taxation
A continuation of ACC 84, this course will review more advanced areas of the Federal tax law as promulgated by the Internal Revenue Code of 1986, as amended, including applicable rulings, case law precedent and treasury regulations. The student will become familiar with rules applicable to the taxation of business entities, including C and S corporations, LLCs, partnerships, and specially taxed corporations. An introduction to N.Y. State taxes will be covered. Prerequisite of ACC 84 is required.
Credits: 3
Every Spring



ACC 90 Applications in Accounting
This course covers accounting for business combinations, international transactions and reporting, governmental and not-for-profit entities, and other key advanced topics. The course links theory and practice with constant emphasis on the logic of procedures. Prerequisite of ACC 22 is required.
Credits: 3
Every Semester



CLA 6 Computer Literacy
This is a survey course of computer concepts designed for non-majors (satisfies the Computer Competency requirement). Topics include: fundamentals of hardware and software, uses and capabilities of personal computers, the Internet, and social, legal and ethical implications of computers. The pre-requisite of non-major status is required.
Credits: 3
Every Fall and Spring



ECO 10 Introduction to Microeconomics
This course discusses the important economic theories and concepts that facilitate understanding economic events and issues. Its main focus is on the choices made by consumers, producers, and governments, and there interactions of these choices. Topics include demand and supply, consumption, and production, competitive and non-competitive product markets, markets for resources, and welfare. This course fulfills the Power, Institutions, and Structures thematic cluster requirement in the core curriculum.
Credits: 3
On Occasion




ECO 11 Introduction to Macroeconomics
This course discusses the important economic theory and concepts that facilitate understating economic theories and concepts that facilitate understanding economic events and questions. Its main focus is on analyzing the behavior of important economic aggregates such as national income, unemployment, inflation, interest rates, exchange rates and economic growth.  The effects of the government's monetary and fiscal policies on economic growth and inflation are also examined. This course fulfills the Power, Institutions, and Structures thematic cluster requirement in the core curriculum. Prerequisite of ECO 10 is required.
Credits: 3
Every Fall, Spring and Summer




ENG 1 Writing I: Composition and Analysis
English 1 is an introductory writing course that uses interpretation and analysis of texts to promote clear thinking and effective prose. Students learn the conventions of academic writing. In addition, students learn how to adapt writing for various audiences and rhetorical situations. This course is required Writing I, an introduction to composition, teaches an understanding of writing in various disciplines through the interpretation and analysis of texts. Students will learn conventions of academic writing. Additionally, students will learn how to adapt in response to different rhetorical situations, genres, purposes, audiences, and other issues of context. Writing I is a course that provides the foundation for understanding how to make meaning from texts. This course is required of all students unless exempted by Advanced Placement credit or successful achievement on the SAT examination in writing. Students exempted by assessment or department proficiency examination must take an upper-level English course in substitution after completing ENG 2. Special sections are offered for students in the Program for Academic Success (P sections), for non-native speakers (F sections), and for students identified as needing more personalized attention (S sections). No Pass/Fail option.
Credits: 3
Every Fall, Spring and Summer



ENG 2  Writing II: Research and Argumentation
Writing II, a course in research and argumentation, focuses on scholarly research and the citation of information supporting sustained, rhetorically effective arguments. Building on the work of Writing I, this course addresses sensitivity to complex rhetorical and stylistic choices. Students will learn to use sources and resources effectively and ethically, including library holdings and databases, in service of scholarly arguments grounded in research. This course is required for all students unless exempted by Advanced Placement credit. Special sections are offered for students in the Program for Academic Success (P sections) and for non-native speakers (F sections). No Pass/Fail option. Prerequisite of ENG 1 is required.
Credits: 3
Every Fall, Spring and Summer



FIN 11 Principles of Finance I
This course provides basic principles by which the modern corporation manages its assets, controls its liabilities and raises new capital. Topics covered include the mathematics of finance, valuation and rates of return on securities, financial statement analysis, forecasting, planning and budgeting, working capital management, introduction to capital budgeting techniques, and cost of capital considerations.  Prerequisite or Co-requisite of ACC 11 is required or permission of Chair.
Credits: 3
Every Semester




FIN 12 Principles of Finance II 
This writing across-the-curriculum course is an analysis of corporate policy with respect to internal financial control, capital budgeting, dividend policy, and the issuance and sale of new securities. Emphasis will be placed on corporate decision-making under uncertainty in areas of investment and financing alternatives, both domestically and internationally. Tools and techniques for risk assessment and risk management will be explored using financial calculators and spreadsheet models. Prerequisites of FIN 11 and ACC 11 are required.
Credits: 3
Every Semester




FY  First-Year Seminar and Post 101
Provide an emphasis upon the intellectual transition to college, first-year seminars focus on oral communication and critical reading skills taught in the context of theme-oriented academic courses specifically designed to meet the needs of first-year students. The content of these courses varies by discipline, but each course is limited to twenty students and linked in a learning community with a section of Post 101. First-Year Seminars involve intensive faculty mentoring and provide a source of support and insight to students who are encountering the new responsibilities connected to college life. First-Year Seminars can also be used to fulfill major requirements or can be used as electives, including, in many cases, liberal arts electives. Post 101 is best understood a one-credit course preparing first-year students for the challenges of college life. It emphasizes engagement with the campus community as a preparation for engagement with the world as an active, informed citizen. Weekly hour-long class meetings emphasize a holistic approach to learning and introduce students to the behavior, foundational skills, and intellectual aptitudes necessary for success.
Credits: 4
Every Fall and Spring




LAW 13 Legal Environment of Business
This course examines the origins of law, business ethics, court system, business related torts, contracts, agency, partnership, corporations, employment law, intellectual property, and international business law.
Credits: 3
Every Semester



LAW 19 Commercial Law and Business Transactions
This course covers real and personal property, bills and notes, insurance, suretyship and bankruptcy, law of sales and negotiable instruments, wills and trusts, secured transactions, accountant's liability, and security regulation. Prerequisite of LAW 13 is required.
Credits: 3
Every Semester




MAN 11 Principles of Management
This course introduces the student to management history, concepts, theories and practices. The managerial functions of planning, organizing, leading and controlling are examined.
Credits: 3
Every Semester




MIS 20 Information Systems Management

This course is an overview of information systems technology. This course will emphasize management concepts and strategy essential for the selection, development, design, implementation, use, and maintenance of information technologies (IT) and information systems (IS) applications. Business case studies are used to facilitate classroom discussion.  Prerequisite or co-requisite of MAN 18 is required for all business majors. Co-requisite of ACC 80 is required for accounting majors.
Credits: 3
Every Semester




MKT 11 Marketing Principles and Practices
This is the core-marketing course for the LIU Undergraduate Program and it also appeals to non-business-majors who are interested in marketing. The aim of the course is to provide a rigorous and comprehensive introduction to contemporary marketing practice. The participants learn how to analyze complex business situations, identify underlying problems and decide on courses of actions with the help of the modern marketing management techniques. The students learn the concepts and terminology of modern marketing management during lectures, cases and class discussions. Application of the marketing management concepts becomes the focus for the term project.
Credits: 3
Every Semester





MTH 4 Introductory Mathematics for Business and Social Sciences
Sets, numbers, polynomials, solution of equations, inequalities, functions and graphs are covered. Not open to students who have taken MTH 3, 3S, 5, 6, 7, 8.
Credits: 3
Every Fall and Spring






MTH 5 Linear Mathematics for Business and Social Science
Mathematical models for business, linear programming, matrix algebra and applications are covered.  Prerequisite of Math 4 or 4S is required. Not open to students who have taken MTH 8, except for Business Administration, Accountancy, or Dual Accountancy Students.
Credits: 3
Every Fall, Spring and Summer




MTH 6 Calculus for Business and Social Science
Limits, derivatives, maxima and minima, indefinite and definite integration, and applications are covered. Prerequisite of MTH 4 or 5 is required. Not open to students who have taken MTH 7.
Credits: 3
Every Fall, Spring and Summer



ORC 1 Public Speaking
This courses builds student confidence and skills in speaking in various face-to-face settings. Principles of speech composition and public address with emphasis on effective speaking and fundamentals of voice and diction are covered in this course. Students prepare and deliver short speeches to their peers on various assigned topics for critical analysis and feedback.
Credits: 3
Every Semester



 

ORC 17 Speech Communication in Organizations
The principles of effective speech communication in business, professional, governmental and community organizations are examined and practiced. The emphasis is on the public address, the use of digital media tools, as well as traditional visual aids, the informative report, group and sales presentations. Conducting and participating in an open meeting are included.
Credits: 3
On Occasion




Post 101 and FY  First-Year Seminar
Provide an emphasis upon the intellectual transition to college, first-year seminars focus on oral communication and critical reading skills taught in the context of theme-oriented academic courses specifically designed to meet the needs of first-year students. The content of these courses varies by discipline, but each course is limited to twenty students and linked in a learning community with a section of Post 101. First-Year Seminars involve intensive faculty mentoring and provide a source of support and insight to students who are encountering the new responsibilities connected to college life. First-Year Seminars can also be used to fulfill major requirements or can be used as electives, including, in many cases, liberal arts electives. Post 101 is best understood a one-credit course preparing first-year students for the challenges of college life. It emphasizes engagement with the campus community as a preparation for engagement with the world as an active, informed citizen. Weekly hour-long class meetings emphasize a holistic approach to learning and introduce students to the behavior, foundational skills, and intellectual aptitudes necessary for success.
Credits: 4
Every semester





QAS 19 Decision Analysis
This course covers the practical application of management science models to business problems. Applications include efficient allocation of scarce resources, project scheduling, network design, inventory management and queuing models.
Prerequisites: Math 6 and ECO 72.
Credits: 3
Every Semester 



 

QAS 20 Business Statistics
This course introduces some of the statistical concepts and techniques used in business decision-making at an advanced level. The emphasis is on business application. Problems from the functional areas of accounting, finance, marketing, management, and operations are used to illustrate how probabilistic and statistical thinking and analysis can enhance the quality of decisions.
Credits: 3
Every Semester