Accounting

The U.S. Bureau of Labor Statistics estimates a 22% growth rate in accounting and auditing jobs between 2008 and 2018. This growing, global market needs skilled, educated leaders. Nichols’ accounting faculty consists entirely of certified public accountants (CPA). They have extensive professional accounting experience and are passionate about training students to excel in corporate, government, and nonprofit environments.

Our accounting department keeps up with developments in the field, from forensic accounting and new regulations and requirements to changing international accounting standards. Our active network of successful accounting alumni provides crucial internship and employment opportunities to our students.

Courses & Requirements

Accounting majors must complete 121 credit hours (approximately 40 courses), including courses from the foundation and business core curricula, focused electives and these required accounting specialization courses:

Required Courses

ACCT 241 Intermediate Accounting I

An intensive course designed to broaden and strengthen the foundation laid in the introductory courses. Accounting principles are analyzed and applied in the preparation of financial statements, utilization of time value of money concepts, and examination of cash, short-term investments, receivables, and inventories. Includes computer applications.

Prerequisite: ACCT-238.

ACCT 242 Intermediate Accounting II

A continuation of ACCT 241. Topics include current liabilities and contingencies, long-term assets, long-term debt, and owner?s equity. Requires computer usage.

Prerequisite: ACCT-241. ACCT-238 Required

ACCT 341 Intermediate Accounting III

A study of complex accounting topics and analytical procedures. Topics include revenue recognition, accounting for investments, pensions, leases, and income taxes; accounting changes, errors, incomplete records, and analysis of cash flows. Computer usage is integrated.

Prerequisite: ACCT-242. ACCT-241 Required

ACCT 342 Advanced Accounting

In-depth study of complex entities including partnerships, branch accounting, mergers, consolidations, foreign currency translations, and international financial reporting standards. Requires computer usage.

Prerequisite: ACCT-341. ACCT-242 Required

ACCT 343 Cost Accounting

Students analyze cost behavior, accumulation and allocation concepts in job and activity based costing and process costing systems. Students also examine estimated cost systems; budgetary control with standard costs; and cost and profit analysis for decision-making purposes. Computer usage is integrated.

Prerequisite: ACCT-238.

ACCT 402 Federal Taxes

This course is intended to make the student aware of the major tax issues that influence decision-making by businesses and individuals. Specific topics include tax planning, income determination, capital vs. ordinary income, the deductibility of expenses, and the tax implications of various forms of business entities.

Prerequisite: FIN-203.

ACCT 404 Auditing

A course designed to give the accounting student an understanding of auditing theory. Topics include generally accepted auditing standards, audit reports, professional ethics, fraud auditing, internal control, and sampling and evidence-gathering techniques.

Prerequisite: ACCT-242. ACCT-241 Required

ACCT 480 Accounting Seminar

This course gives the student an understanding of accounting for non-profit organizations and governmental entities. Special attention is placed on reporting requirements and government oversight.

Prerequisite: ACCT-404. ACCT-242 Required

Electives

Accounting offers no elective courses.

Faculty