academics

Accounting

Associate Professors: M. Entwistle (chair), A. Oppegard
Assistant Professors: D. Bolen, K. Buell, S. Gardner, J. Harris, L. Hybertson, J. Keltgen, R. Sougstad

Accounting students traditionally place highly on graduate school admission tests and experience high pass rates on state Certified Public Accountant exams. Job placement rates are also excellent, supported by a regionally recognized internship program. The liberal arts experiences all students bring with them into the program make the Augustana Accounting degree unique. Our small class sizes give students the opportunity to interact with our faculty on a daily basis maximizing their individual learning experiences.

Two Accounting majors and one minor are offered as part of the program. The Bachelor of Arts in Professional Accountancy is designed to meet the 150-hour credit hour and course requirements of the American Institute of Certified Public Accountants and prepares students to take the demanding CPA examination. This is a four-and one-half year program taught by CPAs and other faculty with advanced business and accounting degrees, as well as extensive experience with accounting and business issues. It meets the requirements of the State Boards of Accountancy, including South Dakota, which have elected the 150-hour educational requirement to sit for their CPA exam. The four-year Accounting major and minor provide students with a sound foundation in accounting issues, allowing them to enter the world of private or corporate accounting or prepare for graduate work.

Bachelor of Arts in Professional Accountancy:

82 credit hours
This 150 hour bachelor program suggests specific courses in the Core of Liberal Studies that should be discussed with your advisor.

Required Courses: 44 credit hours
ACCT 210 — Principles of Accounting I (4 cr)
ACCT 211 — Principles of Accounting II (4 cr)
ACCT 322 — Intermediate Accounting I (4 cr)
ACCT 323 — Intermediate Accounting II (4 cr)
ACCT 344 — Income Tax (3 cr)
ACCT 345 — Organizational Tax (3 cr)
ACCT 347 — Cost Accounting (3 cr)
ACCT 348 — Advanced Accounting (3 cr)
ACCT 349 — Auditing (3 cr)

4 courses (13 credit hours) from the following options:
ACCT 300 — Special Topics in Accounting (3 cr) (Repeatable)
ACCT 310 — Not for Profit Accounting (3 cr)
ACCT 382 — Business Ethics (3 cr)
ACCT 495 — Accounting Internship (W) (4 cr)

Required Supportive Courses: 38 credit hours
BSAD 270 — Statistics (4 cr)
BSAD 330 — Principles of Finance (4 cr)
BSAD 340 — Business Law I (3 cr)
BSAD 380 — Business Law II (3 cr)
ECON 120 — Principles of Economics I (3 cr)
ECON 121— Principles of Economics II (3 cr)

18 credit hours from the following options:
BSAD Elective: at 300-level or higher
ECON Elective: at 300-level or higher
COMM Elective: at 200-level or higher
COSC Elective: at 200-level or higher

Two-thirds of departmental hours numbered 300 or higher and required for the major must be taken at Augustana.
Achievement of a grade of C- or higher is required in all courses for the major, including supportive courses.

Accounting Major:

45 credit hours

Required Courses: 31 credit hours
ACCT 210 — Principles of Accounting I (4 cr)
ACCT 211 — Principles of Accounting II (4 cr)
ACCT 322 — Intermediate Accounting I (4 cr)
ACCT 323 — Intermediate Accounting II (4 cr)
ACCT 344 — Income Tax (3 cr)
ACCT 347 — Cost Accounting (3 cr)

Three courses (9 credit hours) from the following options:
ACCT 300 — Special Topics in Accounting (3 cr) (Repeatable)
ACCT 310 — Not for Profit Accounting (3 cr)
ACCT 345 — Organizational Tax (3 cr)
ACCT 348 — Advanced Accounting (3 cr)
ACCT 349 — Auditing (3 cr)
ACCT 382 — Business Ethics (3 cr)

Required Supportive Courses: 14 credit hours
ECON 120 — Principles of Economics I (3 cr)
ECON 121 — Principles of Economics II (3 cr)
BSAD 270 — Statistics (4 cr)
BSAD 330 — Principles of Finance (4 cr)

Two-thirds of departmental hours numbered 300 or higher and required for the major must be taken at Augustana.
Achievement of a grade of C- or higher is required in all courses for the major, including supportive courses.

Related Information: It is suggested that Accounting majors consider enrolling in BSAD 490 Senior Seminar.

Accounting Minor:

19 credit hours
ACCT 210 — Principles of Accounting I (4 cr)
ACCT 211 — Principles of Accounting II (4 cr)
ACCT 322 — Intermediate Accounting I (4 cr)
ACCT 323 — Intermediate Accounting II (4 cr)
*ACCT Elective course (3 cr) (Not to include ACCT 382 Business Ethics)

Accounting Courses:

ACCT 210 — Principles Of Accounting I (4 credits)

A first course in accounting procedures and principles used by sole proprietorships and partnerships with an emphasis on the balance sheet accounts. Prerequisite Sophomore Standing; Offered Every Fall Semester.

ACCT 211 — Principles of Accounting II (4 credits)
Accounting procedure and statements used by partnerships and corporations. Accounting for corporate activities and accounting for managerial control of operations and business decisions. Prerequisite ACCT 210; Offered Every Spring Semester.

ACCT 300 — Special Topics in Accounting (3 credits)
A variety of topics courses from the Accounting discipline are offered occasionally. Topics examples include: Theory of Accounting, Managerial Accounting, and Accounting Information Systems. This course may be repeated with different topics. Prerequisite ACCT 211; Offered Occasionally.

ACCT 310 — Not For Profit Accounting (3 credits)
A study of the unique accounting standards applicable to non-profit entities, including state and local governments. Topics covered include fund accounting, the appropriation process, and program budgeting. Prerequisite ACCT 211; Offered Fall Semester, Even Years.

ACCT 322 — Intermediate Accounting I (4 credits)
A review of the basic financial statements, the development of accounting principles and procedures relating to cash, receivables, inventories, tangible assets and liabilities, and principles of annuities. Prerequisite ACCT 211; Offered Every Fall Semester.

ACCT 323 — Intermediate Accounting II (4 credits)
Corporation accounting and earnings per share, accounting for equity transactions, long term liabilities, pensions, and taxes. Prerequisite ACCT 322; Offered Every Spring Semester.

ACCT 344 — Income Tax (3 credits)
A study of the federal tax system, tax accounting, taxable income and deductions, sales and exchanges, with an emphasis on the effects on an individual tax return. Prerequisite ACCT 211; Offered Every Fall Semester.

ACCT 345 — Organizational Tax (3 credits)
A study of tax accounting for partnerships, corporations, and trusts, with an emphasis on corporation tax accounting problems. Prerequisite ACCT 344; Offered Every Spring Semester.

ACCT 347 — Cost Accounting (3 credits)
Elements of production cost according to three recognized cost systems: 1) Job cost; 2) Process cost; and 3) Standard cost. Topics include activity based costing, cost allocations, and variance analysis. Prerequisite ACCT 211; Offered Every Spring Semester.

ACCT 348 — Advanced Accounting (3 credits)
Partnership and corporate problems involving consignments, installments, liquidations, consolidations, estates, agencies, and branches. Prerequisite ACCT 323; Offered Every Fall Semester.

ACCT 349 — Auditing (3 credits)
Procedures and standards of public accountants. Emphasis on auditor’s working papers and submission of audit statements. Prerequisite ACCT 323; Offered Every Spring Semester.

ACCT 382 — Business Ethics (3 credits)
Introduction of moral development theories and models of moral decision making and application of these models in management decision making through case studies. Cross-Listed with BSAD 382; Offered Every Semester.

ACCT 399 — Independent Study (1-4 credits)
This course is intended to provide the student with the opportunity to pursue elective independent study. This course is not a “W” course and it may not be used to fulfill the departmental requirements for graduation. Prerequisite: Consent of the Instructor; Offered Every Semester, Including Interim.

ACCT 495 — Accounting Internship (W – Area 2.1B) (4 credits)
This internship program provides an opportunity for students to participate in a learning experience away from the traditional classroom. Students will be placed with local organizations so they may participate with the managerial and financial reporting processes. Students will observe and apply in practice the concepts and theories learned in the classroom. The student will be under the direct supervision of an officer of the cooperating organization and progress will be monitored by the department’s internship coordinator. Additional Fees May Apply; Prerequisites: Consent of the Internship Coordinator; Offered Every Semester, Including Interim.

ACCT 496 — Elective Accounting Internship (1-4 credits)
This internship offering is intended to provide the student with the opportunity to pursue an elective internship. This internship is not a “W” course and it may not be used to fulfill the departmental requirements for graduation. Additional Fees May Apply; Prerequisites: Consent of the Internship Coordinator; Offered Every Semester, Including Interim.

ACCT 499 — Independent Study (W - Area 2.1B) (1-4 credits)
Independent Study projects are conducted in close relationship with an individual faculty member. This course requires: 1) An in-depth examination of an individually chosen topic area, utilizing recognized research methods; 2) A written analysis of the project, its results, and recommendations; and 3) An oral defense of the project to the Departmental Faculty. Prerequisite: Consent of the Instructor; Offered Every Semester, Including Interim.