Requirements + Courses

Lower Division Requirements

ACCT 2110, 2120; BADM 1010, 1020, 1030, 1040; BLAW 2210; ECON 105 OR ECON 110 and 120, ECON 230; MATH 111; MATH 112

Upper Division Requirements

ACCT 3110, 3120, 3130, 3140, 4110 or 5110, 4120, 4150, 4160; AIMS 3770; BADM 4970; BLAW 3210; FNCE 3410; INBA 3810; MGMT 3610; MRKT 3510.

All upper division accounting courses must be taken in residence at LMU. A cumulative GPA of C (2.0) must be achieved in the major requirements (all business, economics, and math courses).

Core, Major and Elective Accounting Courses

ACCT 2110   Financial Accounting

ACCT 2120   Accounting Information for Decision Making

ACCT 3110   Intermediate Accounting I

ACCT 3120   Intermediate Accounting II

ACCT 3130   Cost Management

ACCT 3140   Accounting Information Systems

ACCT 4110   Advanced Accounting

ACCT 4120   Income Tax Accounting

ACCT 4150   Accounting Ethics, Professionalism, and the Public Interest

ACCT 4160   Auditing

ACCT 4180   Fraud Examination

ACCT 4198   Special Studies

ACCT 4199   Independent Studies

ACCT 5110   Advanced Accounting Topics

For purposes of meeting the requirements for the B.S.A. degree and determination of academic probation, an overall cumulative grade point average of at least a C (2.0) must be obtained in the following required Accounting major courses: 3110, 3120, 3130, 3140, 4110 or 5110, 4120, 4150, and 4160.

List of Required Courses for Accounting Major

Course Descriptions

  • ACCT 2110 Financial Accounting

    This is the first course in a two-accounting-course sequence that is required for all business majors. This course introduces the student to the role of accounting in business and society, the basic concepts and techniques of financial accounting and the use of financial statements for decision-making purposes. Topics covered include a summary of the accounting cycle, analyzing and recording transactions, accounting valuation and allocation practices, preparation, interpretation and analysis of financial statements.

  • ACCT 2120 Accounting Information for Decision Making

    This course involves the study of managerial accounting, in which economic information (both qualitative and quantitative) is used to make strategic business decisions. This course is the second of two introductory accounting courses (business core prerequisite: ACCT 2110) required for all business majors and as a prerequisite to all other accounting courses. Managerial accounting information is used to make decisions that guide the organization through planning, organizing, directing and controlling activities. Strategic decision making requires a future orientation to the information, with relevant and flexible data. This course draws heavily from economics, finance, management and marketing.

  • ACCT 3110 Intermediate Accounting I

    This course begins the in-depth study of financial accounting and reporting. Topics covered include the environment of the standard setting process for financial accounting and reporting, the conceptual framework, accounting cycle procedures, financial statement preparation and financial disclosures, basic ratio analysis, and accounting standards and procedures for cash, notes and accounts receivable, and inventories. Uses and limitations of the balance sheet and the income statement are studied. Researching accounting issues through the use of a database and accounting websites are a course requirement.

  • ACCT 3120 Intermediate Accounting II

    This course continues the in-depth study of financial accounting and reporting introduced in ACCT 3110. The conceptual and procedural aspects of many of the complex and controversial topics in financial accounting are studied from both the U.S. and an international accounting perspective. Topics include the accounting for property, plant, and equipment, intangible assets, investments, long-term debt, leases, deferred taxes, contingent liabilities and assets stock-based compensation and several issues relating to stockholders' equity. Coverage of these topics includes an historical perspective, current practice, awareness of limitations in current practice, and possible future directions. Researching accounting issues through the use of the FASB's Codification database is integrated into the course.

  • ACCT 3130 Cost Management

    This course continues the process of analyzing economic events within the framework of accounting information systems and the use of information in the management decision-making process. Students are expected to analyze and evaluate business operations and activities. The topics will include those of the traditional product costing methods as well as cost management topics. Advanced topics of decision making structure, together with the measurement of performance, and the new competitive environment are covered during the last part of the semester. This course draws heavily from other disciplines, especially the fields of management and economics.

  • ACCT 3140 Accounting Information Systems

    This course introduces students to the fundamentals of accounting information systems including transaction processing, system documentation techniques, business processes, and internal controls. Various software is utilized to illustrate these AIS fundamentals and to reinforce financial and managerial accounting concepts within the context of an accounting information system.

  • ACCT 4110 Advanced Accounting

    This course completes the undergraduate study of financial accounting and reporting. An emphasis is placed on consolidated financial statements. Additional topics covered include foreign currency transactions, translation of the financial statements of foreign entities, and governmental accounting for local and state governments. International financial reporting standards are integrated into the course content as applicable.

  • ACCT 4120 Income Tax Accounting

    This is a comprehensive study of federal tax laws and administration with emphasis on the taxation of individuals. In addition, application of the components of the federal income tax formulas for partnerships, corporations, and other business entities will be examined.

  • ACCT 4150 Accounting Ethics, Professionalism, and the Public Interest

    Accountants and the accounting profession play an important role in society. This role is examined in this course through an in-depth study of accounting ethics, professionalism, and the public interest. Students will learn about and analyze the history of the profession, the legal and ethical responsibilities of the profession, important legislation that has impacted the profession and the practice of accounting, particularly auditing, and the current environment in which accountants and auditors work. The course will expose students to moral reasoning and ethical decision making in accounting, business, and society. Students will be encouraged to adopt the objectivity, integrity, and ethical standards necessary to serve society as an accounting professional.

  • ACCT 4160 Auditing

    This course covers the Audit Profession and the responsibilities of the Auditor, Ethics and the role of other audit professions. It also covers the tools and techniques for conducting an audit, sampling techniques and their application, the areas to be audited and the reporting requirements after an audit is completed. Discussions are also conducted on the requirements for audits of public companies under Sarbanes-Oxley (2002), the use of technology and its impact on the audit process.