Jun 17, 2024  
2022-2023 Academic Catalog 
2022-2023 Academic Catalog [Published Catalog]

Accounting (B.A.C.)

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Accounting is both a primary communication channel between business entities and its stakeholders and a comprehensive information system which supports effective decision making. The role of the accounting profession is becoming more pronounced in today’s business environment which is characterized by scarce resources, fierce rivalry, complex transactions and increased public scrutiny. Furthermore, auditors are considered the key deterrent to managerial malfeasance, a phenomenon which adversely affects markets and investors’ confidence. Students pursuing the Bachelor of Accounting will be exposed to a comprehensive set of technical knowledge of financial accounting, cost/managerial accounting, taxation, and auditing. Ethical considerations, corporate governance and financial transparency issues are covered throughout the course offerings.

Accounting graduates are qualified to work within different professional capacities at corporate multinationals, Big 4 auditing firms, banks, consulting firms, and other types of organizations. In addition, recent graduates of the program have attained, or are currently pursuing, professional certifications such as the Certified Public Accountant (CPA), the Chartered Financial Analyst (CFA), the Certified Management Accountant (CMA), and the Association of Chartered Certified Accountants (ACCA) qualification, in addition to other postgraduate studies.

The objective of the Bachelor of Accounting degree is to provide conceptual and practical knowledge to graduates who will prepare, report and analyse economic and financial information used for making sound managerial decisions.

Students who seek to be admitted to the Bachelor of Accounting (BAC) program through the declaration process must have completed no less than 27 credit hours of study including the courses listed in (1) below. Students who have successfully completed these courses, with the minimum required grades where applicable, and who meet the minimum major weighted grade point average as determined by the department, will be accepted in the major.

1. Required Courses to be completed to declare Accounting as a major

ACCT 201/2001 - Financial Accounting (3 cr.)   with a minimum grade of B
ACCT 202/2002 - Managerial Accounting (3 cr.)   with a minimum grade of B
ECON 201/2021 - Introduction to Macroeconomics (3 cr.)  OR ECON 202/2011 - Introduction to Microeconomics (3 cr.)  
MACT 210/2222 - Statistics for Business (3 cr.)  

2. Calculation of the Major Weighted Grade Point Average

The major weighted Grade Point Average = Overall GPA at time of declaration x 60% + (Average GPA in ACCT 2001 and ACCT 2002) x 40%.

3. The minimum major Weighted Grade Point Average

Admission to the Accounting major is competitive. Eligible students will be ranked and selected based on their major weighted grade point average. Additional combination of discipline relevant factors and evidence of interest in the field of Accounting through personal statements and/or interviews will be used to determine acceptance into the major.

Students must complete a minimum of 127 credit hours for the Bachelor of Accounting degree.

Students who seek the Bachelor of Accounting degree are not permitted to minor in Business Administration.

Core Curriculum (37 credits)

The remaining 3 credit hours required to satisfy the Core are fulfilled by completing the course ACCT 403/4005 - Contemporary Issues in Financial Reporting (3 cr.) .

Collateral Requirements (12 credits)

All students seeking a Bachelor of Accounting degree are required to complete the following collateral requirements (12 credits):

Management of Information Systems Requirements (3 credits)

Electives (9 credits)

CO-OP (3 cr.)

Students majoring within the School of Business who meet other relevant criteria are eligible to apply for the optional BUSC 000/4000 - Experiential Learning : CO-OP (3 cr.)  as part of their general electives. Selection is highly competitive, subject to limited capacity, and based on criteria set by the School of Business. Students enrolled in BUSC 4000  are not permitted to concurrently enroll in any other course.

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