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Accounting


Bachelor of Arts

Introduction
The curriculum of the Business Department within the Walker College of Business is designed to prepare students for management positions in business and industry, with federal, state and municipal agencies performing business functions, to become entrepreneurs, and to prepare students for graduate and professional schools. Mercyhurst University, through its business department, has the following degree programs accredited by the International Accreditation Council for Business Education:

  • Bachelor of Arts degree in Accounting
  • Bachelor of Arts degree in Business Economics
  • Bachelor of Arts degree in Finance
  • Bachelor of Arts degree in International Business
  • Bachelor of Arts degree in Management
  • Bachelor of Arts degree in Marketing
  • Bachelor of Arts degree in Sport Business Management

Curriculum in the business majors is designed to develop the “whole person” through a liberal-arts course of study; develop communication skills, both oral and written; offer a broad base of business courses for general understanding of the world of business with specialized study in a functional area of business; provide analytic and decision-making tools; and provide students with off-campus work experience (internship), where theory from coursework is put into practice.

Minor Programs

The Business department offers six minor programs for interested students: Accounting, Business Administration, Economics, Human Resource Management, Management, and Marketing.The minor program in Business Administration is intended for non-Business majors only. Requirements for each minor are listed on the associated major page.

Business Administration Minor (For Non-Business Majors only)

Required coursework:
ACCT 101 Principles of Accounting I
ACCT 102 Principles of Accounting II
BADM 310 Business Law I
ECON 105 Macroeconomics
ECON 106 Microeconomics
FIN 280 Financial Management
MGMT 120 Principles of Management
MKTG 162 Principles of Marketing

No minor course may be taken on a pass-fail basis, and students must earn a minimum GPA of 2.75 in the required business courses to meet minor program requirements. Students who fail to earn a grade of "C" or better in a required business course must repeat the course. Only two courses from a major may be used to satisfy minor requirements. 

Mission Statement
The mission of the Business Department is to prepare students for leadership roles on the national and international level, to become the entrepreneurs of the future, and to continue their education in graduate and professional schools. With its collegial and supportive culture, the department embraces a rigorous and collaborative approach to learning that inspires informed judgment, decisive action and a global, enterprise perspective. Graduates will embrace Mercyhurst’s core values of respect and tolerance for people and their ideas, and dignity in the treatment of all workers.

Business graduates are expected to demonstrate:

  • Competency in both oral and written communication.
  • The ability to work effectively in groups and teams.
  • The ability to apply ethical principles in solving business problems/
  • The ability to critically apply theory and practice in the functional areas of business to identify, analyze and solve business problems.

Business Majors:
The business majors require the successful completion of 39 credits of common business core courses. These core courses are designed to provide an exposure to fundamental business functions.

Students who select more than one major, or who select a major and minor or minors within business, may take only two overlapping courses. In the case of dual majors within business, an exception is made only for the business core. This policy establishes the uniqueness of each intellectual discipline and assures the intellectual integrity of dual majors and minors.

No course taken as part of the business core or part of a business major (or minor) requirement may be taken on a pass/fail basis. Additionally, students who earn less than a “C” in these courses must repeat them (See Repeat Courses section).

GPA Requirements and Reviews
All students (including transfer students) in the business department must maintain a minimum business and overall GPA of 2.75. Failure to meet these GPA requirements at the time of graduation will result in the student earning a degree of either BA in Business Studies or BA in General Studies, depending upon his/her GPA.

Repeat Courses
Students who fail to earn a grade of C or better in any business program requirement must repeat the course. If the student does not receive a C (or better) after repeating the course, the student will not be permitted to re-take the course resulting in the inability to earn a major or minor in the field of study.

The goal of this program is to provide a sound education in all phases of the theory and application of accounting. Those students who elect accounting as a major field of study will become professionally competent in advanced theories and applications of financial accounting, cost analysis, auditing, and tax procedures.

The business department recommends that students who intend to practice as Certified Public Accountants contact the state in which they plan to reside concerning the educational requirements of that state. Candidates can sit for the CPA Exam in Pennsylvania with less than 150 credits, however, they will be required to complete all 150 credits before they are eligible to apply for CPA licensure. Most states have credit requirements that exceed the minimum course requirements for graduation at Mercyhurst University. Check the American Institute of Certified Public Accountants’ web page at www.aicpa. org for each state’s requirements. Keep in mind that this site is not as up-todate as the states’ own web sites, which can be accessed through the AICPA home page. Those students who wish to practice as Chartered Accountants in Canada must meet additional educational requirements.

The department offers two options for students:

  1. The Accounting major, with 121 credit hours, is offered for students who wish to work in the private (non-public) sector of accounting. These graduates are eligible to sit for the Certified Management Accountant (CMA) Exam.
  2. A double major in Accounting and Finance is offered for students who wish to a) earn additional credit hours towards licensing requirements and b) be eligible to sit for both the Certified Public Accountant and the Certified Financial Planner Exams. This option provides students with the opportunity to work in public accounting and/or finance upon graduation.

Note: Students with junior or senior standing who are accepted into the Accounting major or the Accounting/Finance double major should recognize that they may not be able to meet all degree requirements without additional study beyond the traditional four years. 

REACH
Mercyhurst - REACH and outREACH
39

BUSINESS MAJOR CORE COURSES:

PRINCIPLES OF ACCOUNTING I: FINANCIAL
Course Code:
ACCT 101
Active Term:
All Terms
/ All Years
Course Description:

This course introduces the basics of financial accounting for business enterprises with a focus on accounting for corporations. Topics include the theory of the financial accounting principles that guide the preparation of financial accounting information and the role of accounting in capital markets as well as the ethical standards imposed on accountants. The course provides a thorough review of the accounting cycle and the operating areas of the balance sheet with special focus on how accounting transactions affect the financial statements and analysis of financial statement information.

Credit:
3
Instruction methods:
Lecture
Total hours: 45
x
ACCT 101
PRINCIPLES OF ACCOUNTING I: FINANCIAL
3
PRINCIPLES OF ACCOUNTING II: MANAGERIAL
Course Code:
ACCT 102
Active Term:
All Terms
/ All Years
Course Description:

This course presents accounting information used for internal business management. The focus of the course is using accounting information to better aid in the planning, controlling and evaluation of company performance. Topics include budgeting, job costing, product pricing, break-even analysis and decision models.

Credit:
3
Instruction methods:
Lecture
Total hours: 45
Prerequisites:

ACCT 101

x
ACCT 102
PRINCIPLES OF ACCOUNTING II: MANAGERIAL
3
BUSINESS LAW I
Course Code:
BADM 310
Active Term:
All Terms
/ All Years
Course Description:

A survey of the legal principles found in transactions typified in today's business world. Emphasis is placed on the case study method along with real-world examples. Topics covered include: alternative dispute resolution, structure of the court system, contracts, sales, property law, insurance law, and corporate ethics.

Credit:
3
Instruction methods:
Lecture
Total hours: 45
x
BADM 310
BUSINESS LAW I
3
BUSINESS ANALYTICS
Course Code:
BADM 335
Active Term:
All Terms
/ All Years
Course Description:

This course introduces the field of business analytics, commonly defined as the extensive use of data, statistical and quantitative analysis, exploratory and predictive models, and fact-based management to drive decisions and actions. Business analytics is a process of transforming data into actions through analysis and insights in the context of organizational decision making and problem solving. As such, business analytics is applied in operations, marketing, finance, and strategic planning among other functions. Students actively participate in the delivery of this course through case and project presentations. Offered Fall and Spring Semesters Prerequisites: STAT135, Junior/Senior Standing.

Credit:
3
Instruction methods:
Lecture
Total hours: 45
x
BADM 335
BUSINESS ANALYTICS
3
BUSINESS POLICY & STRATEGY
Course Code:
BADM 405
Active Term:
All Terms
/ All Years
Course Description:

A capstone course which emphasizes business problem solving based on accounting, finance, management and marketing principles. Students will complete and present a case study project.

Credit:
3
Instruction methods:
Lecture
Total hours: 45
x
BADM 405
BUSINESS POLICY & STRATEGY
3
MACROECONOMICS
Course Code:
ECON 105
Active Term:
All Terms
/ All Years
Course Description:
A study of mixed capitalism in aggregate form designed to provide the student with a knowledge of the American economic system. Topics include the causes of recession, unemployment, inflation and the uses of fiscal and monetary policies. 3 credits.
Credit:
3
Instruction methods:
Lecture
Total hours: 45
x
ECON 105
MACROECONOMICS
3
MICROECONOMICS
Course Code:
ECON 106
Active Term:
All Terms
/ All Years
Course Description:
A course emphasizing the economic activities of individual consumers and producers. Topic coverage includes demand-supply analysis, the costs of production and price and output determination by the market structure.
Credit:
3
Instruction methods:
Lecture
Total hours: 45
x
ECON 106
MICROECONOMICS
3
MANAGERIAL ECONOMICS
Course Code:
ECON 406
Active Term:
All Terms
/ All Years
Course Description:

Managerial Economics focuses on the application of economic theory to managerial decision-making. It applies statistical and quantitative tools and the methodological approaches commonly used by economists to business decisions such as demand estimation, product pricing, profit maximizing level of output, resource management in the short and long run, market analysis, risk analysis and strategic competition. In this course, topics will be presented through the use of case studies that establish a situation in which managers must make key decisions about a firm and its products. Microeconomic principles such as supply and demand, elasticity, short-run and long-run shifts in resource allocation, diminishing returns, economies of scale, and pricing are applied in the analysis. Junior or Senior Standing

Credit:
3
Instruction methods:
Lecture
Total hours: 45
Prerequisites:

ECON-106 and MATH-109 or STAT-135

x
ECON 406
MANAGERIAL ECONOMICS
3
FINANCIAL MANAGEMENT
Course Code:
FIN 280
Active Term:
All Terms
/ All Years
Course Description:
Financial data are evaluated as a method of providing information to managerial decision-makers. Topics include a definition of the finance function, ratio analysis, forecasting, planning and control, capital budgeting, asset management and leverage.
Credit:
3
Instruction methods:
Lecture
Total hours: 45
Prerequisites:
ACCT-101 ECON-105
x
FIN 280
FINANCIAL MANAGEMENT
3
PRINCIPLES OF MANAGEMENT
Course Code:
MGMT 120
Active Term:
All Terms
/ All Years
Course Description:
An introduction designed to provide a basic understanding of the principles, concepts and functions of management: planning, organizing, leading and controlling with an emphasis on managing and being managed.
Credit:
3
Instruction methods:
Lecture
Total hours: 45
x
MGMT 120
PRINCIPLES OF MANAGEMENT
3
PRINCIPLES OF MARKETING
Course Code:
MKTG 162
Active Term:
All Terms
/ All Years
Course Description:
A broad study of the field of marketing from a managerial and analytical perspective. Emphasis is on demand analysis, need satisfaction, strategic planning, product development, distribution channels, promotions, and price determination.
Credit:
3
Instruction methods:
Lecture
Total hours: 45
x
MKTG 162
PRINCIPLES OF MARKETING
3
STATISTICS FOR RESEARCH
Course Code:
STAT 120
Active Term:
All Terms
/ All Years
Course Description:

This course will provide an introduction to statistical methods used in research with an emphasis on describing, organizing, applying and interpreting a variety of basic statistical techniques.  Topics include measurement scales, elements of experimental design, probability, hypothesis testing, descriptive statistics, correlation, t-tests, analysis of variance, chi-square tests, regression techniques, and non-parametric statistical methods.  Students will gain experience in basic data management using a data entry platform, such as Excel.

Credit:
3
Instruction methods:
Lecture
x
STAT 120
STATISTICS FOR RESEARCH
3

ACCOUNTING MAJOR REQUIREMENTS:

INTERMEDIATE ACCOUNTING I
Course Code:
ACCT 201
Active Term:
Fall Term
/ All Years
Course Description:
A detailed examination of the development of specific accounting theories relating to the principles of valuation of the major balance sheet accounts.
Credit:
3
Instruction methods:
Lecture
Total hours: 45
Prerequisites:

ACCT-101

x
ACCT 201
INTERMEDIATE ACCOUNTING I
3
INTERMEDIATE ACCT II
Course Code:
ACCT 202
Active Term:
Spring Term
/ All Years
Course Description:
A continuation of Intermediate Accounting I which deals with accounting theories relating to the valuation of the major balance sheet accounts.
Credit:
3
Instruction methods:
Lecture
Total hours: 45
Prerequisites:

ACCT 201

x
ACCT 202
INTERMEDIATE ACCT II
3
TAX ACCOUNTING
Course Code:
ACCT 230
Active Term:
Fall Term
/ All Years
Course Description:
A study of the Internal Revenue Code with primary emphasis on the provisions affecting individual taxpayers. Major topics include identification of items of gross income, business deductions, qualifications for dependents, itemized deductions, filing status and computation of taxable income.
Credit:
3
Instruction methods:
Lecture
Total hours: 45
x
ACCT 230
TAX ACCOUNTING
3
CORPORATE TAX ACCT
Course Code:
ACCT 335
Active Term:
Spring Term
/ All Years
Course Description:

A Study of the Internal Revenue Code as it relates to corporations, subchapter S corporations, partnerships and other business entities. Major topics include a review of the tax implications of capital contributions and withdrawals, tax research and various special tax situations.

Credit:
3
Instruction methods:
Lecture
Total hours: 45
Prerequisites:

ACCT-230 

x
ACCT 335
CORPORATE TAX ACCT
3
COST ACCOUNTING
Course Code:
ACCT 340
Active Term:
Spring Term
/ All Years
Course Description:

Examination of accounting techniques for control of material, labor and overhead costs in a manufacturing operation. Material includes types of cost systems, cost records, job order costing and budget controls.

Credit:
3
Instruction methods:
Lecture
Total hours: 45
Prerequisites:

ACCT 102, ACCT 201

x
ACCT 340
COST ACCOUNTING
3
ACCT GOVT & NONPROFIT ENT
Course Code:
ACCT 350
Active Term:
Fall Term
/ All Years
Course Description:
Accounting for Government & Non-profit entities covers governmental accounting, including the use of funds, the modified accrual basis of accounting, and many unique financial statement formats and disclosures. It also provides a framework for understanding the special accounting and reporting requirements of nonprofit organizations.
Credit:
3
Instruction methods:
Lecture
Total hours: 45
Prerequisites:

ACCT 202

x
ACCT 350
ACCT GOVT & NONPROFIT ENT
3
ADVANCED ACCOUNTING
Course Code:
ACCT 401
Active Term:
Fall Term
/ All Years
Course Description:

A study of accounting theories and advanced problems relating to the partnership form of business organization; theory and practice of parent and subsidiary accounting; consolidated financial statements; and select international accounting topics.

Credit:
3
Instruction methods:
Lecture
Total hours: 45
Prerequisites:

ACCT 202

x
ACCT 401
ADVANCED ACCOUNTING
3
AUDITING
Course Code:
ACCT 410
Active Term:
Spring Term
/ All Years
Course Description:
A study of generally accepted auditing standards and the various types of audit reports issued by certified public accountants. Other topics include ethical standards, legal liability of auditors, and other types of assurance services.
Credit:
3
Instruction methods:
Lecture
Total hours: 45
Prerequisites:

ACCT 202

x
ACCT 410
AUDITING
3

 

ACCOUNTING MINOR

Accounting Minor Requirements:
ACCT 101   Principles of Accounting I - 3 credits
ACCT 102   Principles of Accounting II - 3 credits
ACCT 201   Intermediate Accounting I - 3 credits
ACCT 202   Intermediate Accounting II - 3 credits
ACCT 230   Tax Accounting - 3 credits
ACCT 340   Cost Accounting - 3 credits
ACCT 401   Advanced Accounting - 3 credits

 

 

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