Accounting

         Spring Hill College offers an accounting concentration and a minor in accounting.  The accounting concentration is designed for students interested in a solid accounting background who do not wish to become a Certified Public Accountant (CPA) or who desire to take additional courses at other institutions to fulfill educational requirements of becoming a CPA.  Students pursuing the non-CPA path might consider careers in corporate accounting departments, taxation, banking, or many other areas. The program gives the student a firm background that includes mathematical and statistical analysis essential to understanding the technological developments in modern management. The specialized instruction, together with that provided by the liberal arts courses included in the program, is intended to give the student a foundation suitable for leadership positions in industry, commerce, or institutional management.                                                                                                                                  

         In most states, however, the accounting concentration will not give the student the proper hours to qualify for the CPA designation.  Under guidelines of the American Institute of Certified Public Accountants (AICPA), most states, including Alabama, require students to complete 150 semester-hours of specific courses to pursue CPA status.  Under the accounting concentration, students desiring to become CPAs will need to return to school to complete the AICPA 150 hour requirement.  However, according to Alabama CPA testing guidelines, Alabama students studying accounting at accredited programs around the state, having fulfilled specific course requirements, can apply to sit for the CPA Exam with 120 semester-hours.  Yet, completion of the 150 hours and satisfaction of the experience requirement must be met (in addition to passing the CPA Exam) before a CPA license can be granted.


Required Courses

  • ACC 301 & 302             Intermediate Accounting I and II (3)
  • ACC 331                       Management Cost Analysis (3)
  • ACC 351                       Federal Income Tax (3)
  • ACC 401                       Advanced Financial Accounting (3)
  • ACC 481                       Auditing (3)

 

Minor in Accounting

  • ECO 101                           Principles of Macroeconomics (3)
  • ACC 201 & 202                 Principles of Accounting I and II (6)
  • BUS 263                            Business Statistics (3)
  • ACC 331                           Management Cost Analysis (3)
  • ACC 301 & 302                 Intermediate Accounting I and II (6)
  • ACC 331                           Management Cost Analysis (3)
  • ACC 351                           Federal Income Tax (3)

 

LOWER-DIVISION COURSES

  • ACC 201. Principles of Accounting I (3)
    • A study of accounting principles and concepts related to the preparation of financial statements and communication of economic information to management and other interested parties.
  • ACC 202. Principles of Accounting II (3)
    • A continuation of the study of financial accounting emphasizing corporate accounting.  Payroll accounting, cash flow management, and financial statement analysis will be covered for all forms of the business organization.  In addition, management accounting and management’s use of accounting data will be studied.  Prerequisite ACC 201.

 

UPPER-DIVISION COURSES

  • ACC 301. Intermediate Accounting I (3) 
    • Financial accounting and reporting related to the development of accounting standards; financial statements; cash; receivables; inventory; property, plant and equipment; and intangibles. 
    • Prerequisite:  ACC 202.
  • ACC 302. Intermediate Accounting II (3)
    • Financial accounting and reporting related to liabilities, investments, revenue recognition, stockholders’ equity, income taxes, dilutive securities, cash flows, and pensions and leases. 
    • Prerequisite:  Grade of C- or better in ACC 301.
  • ACC 331. Management Cost Analysis (3)
    • A study of process costs, standard costs, distribution costs, and budgeting. Emphasis is on managerial uses of accounting information for decision-making, planning, and control.
    • Prerequisite: ACC 202.
  • ACC 351. Federal Income Tax (3)
    • A study of federal income tax law, with emphasis on individual income tax problems.
    • Prerequisite: ACC 202.
  • ACC 381. Information Systems (3)
    • An intensive study of the effective application of computers to the solution of business, accounting, finance, and economic problems.  Basic systems analysis concepts and techniques used in data processing are covered. 
    • Prerequisites: CIS 115 and ACC 202.
  • ACC 401. Advanced Financial Accounting (3) 
    • Advanced topics in financial accounting including partnerships, business combinations (basic), fund accounting (basic), bankruptcy, not-for-profit accounting, estates/trusts, troubled debt restructurings, SEC accounting, and financial instruments. 
    • Prerequisite:  ACC 302.
  • ACC 402.  International Accounting (3) 
    • A study of the international accounting environment including business combinations, foreign currency transactions, branch accounting, financial instruments, segment reporting, translation of foreign financial statements, futures contacts, and derivative assets. 
    • Prerequisite:  ACC 401.
  • ACC 481. Auditing (3)
    • The theory and practice of auditing and supplemental readings; comprehensive treatment of internal control and the ethics of auditing.
    • Prerequisite: ACC 302.
  • ACC 490. Independent Study (1 to 6 credits, to be arranged)
    • Special work not covered in required courses; accounting for specific industries, controllership problems, and others selected by the students with approval of the staff. Periodic conferences, bibliography report, and final examination required.
    • Prerequisite: permission of instructor.

 

GRADUATE COURSES

  • ACC 530. Accounting for Management Control (3)
    • This course is intended to provide a comprehensive overview of how accounting systems—particularly cost accounting systems—allow the manager to exercise control over the operation of the business firm.
    • Prerequisite: Admission into the graduate program, ACC 201 and ACC 202.

Student Perspective

“The faculty at Spring Hill College is great. I don’t think I would have gotten as far as I have without them. Getting to know my instructors personally, and having some of the same professors  for four years, has helped a lot. I love that I can go to them at anytime for advice or to get a question answered.” -Caroline Hill ‘13 Baton Rouge, La.

Faculty Insight

“It is indeed a rewarding experience to observe the accounting students develop academically and socially during their years at SHC.  In addition, a sense of real accomplishment is reflected in their success stories in accounting and life after SHC. The best part is thinking you had a little to do with their contributions to society.” -Dr. Andrew Sharp Professor of Accounting