In economically advanced societies, accounting plays an
increasingly important role. As organizations and societies grow in
size and complexity, there is a growing need for relevant and reliable
quantitative information about their progress and status. This
information is an important aid to business managers, investors, and
others in (1) planning decisions regarding the use of resources
(financial, physical, and human); (2) controlling decisions regarding
actions to accomplish the plans; and (3) evaluating decisions
regarding the actual performance. The accountant assists in
identifying the information appropriate for a particular decision,
participates in the accumulation of this information, and is
responsible for reporting and interpreting it. Providing such
information is important to those who manage economic activity as well
as to those interested in the results. Accountants perform this
function in both business and nonbusiness organizations.
Closely allied to accounting are the fields of information
systems, auditing, and taxation. Each field requires additional
education. Accountants who specialize in information systems are
concerned with the design and control of the systems that provide the
information. Accountants who specialize in auditing are concerned with
verifying the propriety of the information and may attest to its
reliability in reports accompanying those issued by management of
their accountability for the use of resources. Accountants who
specialize in taxation assist in tax planning, return preparation, and
the development of regulations. These accountants are employed inside
organizations, by governmental units, and by independent public
accounting firms.
Study in accountancy is offered in seven areas: financial
accounting, managerial accounting, international accounting,
not-for-profit accounting, taxation, information systems, and
auditing. Courses are available in each of these areas at both the
undergraduate and graduate levels.
Minimum requirements for the bachelor of science degree in
accountancy are ACCY 211, ACCY 221, ACCY 311, and ACCY 331; and three additional
accountancy courses. One or more acceptable sections of ACCY 199
totaling three or more hours may count as one of these additional
courses. Accountancy courses may not be taken on a credit-no credit
basis unless the degree requirements have been satisfied. A limit of
33 hours of accountancy courses may be counted toward the bachelor of
science degree in accountancy.