Accounting

Course Information

Program Overview

Students can pursue either a major or minor in accounting. Assumption’s accounting program enables them to develop professional skills and knowledge that prepare them for careers in public accounting firms, corporate settings, or nonprofit institutions.

One advantage of Assumption’s accounting curriculum is its breadth of business coursework and strong liberal arts foundation. Employers appreciate the critical thinking and communication skills that Assumption graduates bring to the workplace. Another advantage of the Assumption accounting program is the option of earning a master’s degree in one additional year after graduating with a Bachelor's degree. Students may apply for acceptance into Assumption’s BA/MBA program during their senior year.

CPA Candidate Educational Requirements

CPA candidates should note that most states, including Massachusetts, require 150 college credit hours to become certified public accountants (CPAs). A traditional undergraduate degree provides 120 hours. Students planning to take the Uniform Certified Public Accountant (CPA) examination should consult with an accounting advisor in the fall of your junior year regarding requirements to sit for the exam and to qualify for CPA licensing. Doing the 6 in 5 Program will allow students to reach the required credit hours, while also earning a Masters degree.

Major in Accounting

Accounting majors are required to complete 9 accounting courses and 9 interdisciplinary courses as part of their core accounting curriculum. The curriculum provides the basic educational background needed to sit for the Certified Public Accountant (CPA) and/or Certified Management Accountant (CMA) examinations.

BA/MBA Program

Assumption’s BA/MBA program is designed to enable accounting majors who are likely CPA candidates to begin their MBA coursework during their senior year and earn a BA in accounting and an MBA (BA/MBA) in 5 years instead of the traditional 6 years. The Assumption BA/MBA satisfies the required 150-college credit hours to become certified public accountants (CPAs). To be considered for this program, students must have an overall GPA of 2.75 and a GPA of 3.0 in accounting.

In the spring semester of their junior year, students obtain written permission from the Dean of the College and the director of the MBA program to enroll in graduate MBA courses. Candidates formally apply to the program no later than November 1 of their senior year. Senior accounting majors who are accepted into the program may substitute two MBA courses to meet graduation requirements.

Minor in Accounting

To earn a minor in accounting, students must complete 6 accounting courses and 1 management or marketing course. An accounting minor provides students a solid financial background that can be applied in any professional position. Students who major in science, mathematics, or another liberal arts field and who minor in accounting are attractive to CPA firms because of their varied skill set.

Minor in Fraud Examination & Forensic Accounting

The area of forensic accounting and fraud examination is currently the fastest growing niche in the accounting profession. The creation of a minor program in Fraud Examination and Forensic Accounting now gives students the opportunity to explore this area in depth and also to begin to prepare for possible careers in the area. The minor program is open to all students with an interest in the area of fraud examination and forensic accounting. This minor consists of seven courses.

Degree Requirements

Major in Accounting (16 Courses)

Freshman/Sophomore (7 courses)

Accounting Courses

ACC 125 Principles of Accounting I
ACC 126 Principles of Accounting II

Other Disciplines

ECO 110 Microeconomics
ECO 111 Macroeconomics
MGT 100 Introduction to Management
MKT 101 Principles of Marketing
ECO 115 Statistics

Note: ECO115 requires students to have taken MAT114 prior to or at the same time. The course also requires successful prior completion of the one-credit CSC110 or a passing score on an Excel placement exam.

Upper Level (9 courses)

Accounting Courses

ACC 200 Intermediate Accounting I
ACC 201 Intermediate Accounting II
ACC 210 Cost Accounting
ACC 211 Accounting Information Systems
ACC 310 Federal Income Taxes
ACC 320 Advanced Accounting
ACC 420 Auditing (may be taken with Auditing Lab for 4 credits—Seniors only)

Other Disciplines

ECO 325 Corporate Finance
BUS 215 Business Law I

The following electives are available to supplement the major requirements listed above. None of these courses is required to meet the undergraduate degree requirements, but will assist in fulfilling the educational requirements for certification.

BUS 320 Issues in Corporate Governance and White Collar Crime
ACC/MGT 331 Fraud Examination
ACC 332 Forensic Accounting
ACC/BUS250 Personal Finance
BUS 399 Internship in Business

Other Business Studies Courses

In addition, any Accounting major may take IDS 250 Community Tax Assistance.

Requirements for Uniform C.P.A. Examination and Certification

There are specific requirements to take the CPA Examination in Massachusetts; the requirements may differ in other states. Students should check with the Board of Accountancy in the state where they intend to sit for the examination and apply for certification. The undergraduate accounting curriculum qualifies a student to sit for the examination in Massachusetts. Students who wish to apply for certification in Massachusetts after successful completion of the C.P.A. Examination should take the following courses to fulfill the specific requirements for certification:

At least one course in each area:

Area 1:

ACC 331 Fraud Examination
ACC 332 Forensic Accounting
IDS 250 Community Tax Assistance

Area 2:

BUS 320 Issues in Corporate Governance and White Collar Crime
ACC/BUS 250 Personal Finance
PHI 260 Business Ethics

Any business or economics course not required for the accounting major

Minor in Accounting (7 Courses)

Required Courses (3)

ACC 125 Principles of Accounting I
ACC 126 Principles of Accounting II
MGT 100 Introduction to Management OR MKT 101 Principles of Marketing

Electives (4)

ACC 200 Intermediate Accounting I
ACC 201 Intermediate Accounting II
ACC 210 Cost Accounting
ACC 211 Accounting Info Systems
IDS 250 Community Tax Assistance
ACC 310 Federal Income Taxes
ACC 320 Advanced Accounting
ACC 331 Fraud Examination
ACC 332 Forensic Accounting
ACC/BUS 250 Personal Finance
ACC 420 Auditing

BA/MBA Program

Assumption’s BA/MBA program is designed to enable accounting majors who are likely CPA candidates to begin their graduate studies during their senior year. They satisfy the additional 30-hours requirement and receive both a BA and MBA degree in 5 years.

To be considered for this program, students must have an overall GPA of 2.75 and a GPA of 3.0 in accounting.

Faculty

In addition to their excellent teaching credentials, the business faculty have extensive experience as practitioners. This blend of the practical and scholarly results in a rich classroom environment where course concepts and theories are integrated with real-world case studies. Our teachers are also mentors and get to know students individually. Faculty advisors assist students with everything from course selection to exploring their career opportunities.

	Philip Benvenuti Lecturer in Forensic Accounting & Fraud Examination Certifications: Certified Internal Auditor (CIA) Certified Fraud Examiner (CFE)
	Mary Clay Visiting Assistant Professor of Accounting
	Bryan Coleman Visiting Assistant Professor of Accounting, Business Studies
	Thomas Fitzpatrick Lecturer in Business Law
	Joseph Foley Associate Professor of Accounting
	Daniel Jones Associate Professor of Accounting
	Mary Kingsley Lecturer in Business Law
	Francis Marino Associate Professor of Accounting
	Michael Matraia Lecturer in Forensic Accounting & Fraud Examination
	Jennifer Niece, CPA Chair of the Business Studies Department, Associate Professor of Accounting Created a Volunteer Income Tax Assistance (VITA) program for student volunteers to prepare and electronically file low-income and elderly taxpayers’ returns

Courses

Accounting 125 is a prerequisite for Accounting 126, and the Accounting 125–126 sequence is required for all accounting, management, marketing, and international business majors.

ACC 125 PRINCIPLES OF ACCOUNTING I
An introduction to accounting concepts for financial reporting. Accounting theories and principles relative to asset valuation, liability reporting, and income determination will be examined. The uses and limitations of external financial reports will be emphasized. Foley, Jones, Marino, Niece, Piwko, Skypeck/Three credits

ACC 126 PRINCIPLES OF ACCOUNTING II
A consideration of some of the more complex areas of financial accounting and an introduction to managerial accounting and its role in the planning and control of business operations. Changes in financial position, analysis of financial statements, cost accounting, and budgeting will be examined. The impact of accounting information on internal decision making will be emphasized. Prerequisite ACC125. Foley, Jones, Marino, Niece, Piwko, Skypeck /Three credits

ACC 200 INTERMEDIATE ACCOUNTING I
An intensive study of financial accounting and reporting problems. The class will discuss generally accepted accounting principles as applied to income determination, cash, receivables, investments, inventories, and productive resources. Emphasis is on the theory and practice of providing useful information to external financial statement users. The course will include coverage of the primary differences between U.S. GAAP and International Financial Reporting Standards (IFRS). Prerequisite: ACC 125–126. (Fall) Foley, Piwko/Three credits

ACC 201 INTERMEDIATE ACCOUNTING II
A continuation of ACC 200. Discussion focuses on debt and equity capital issues, leases, pensions, earnings per share, income taxes, and cash flow. The course will include coverage of the primary differences between U.S. GAAP and International Financial Reporting Standards (IFRS). Prerequisite: ACC 200. (Spring) Foley, Piwko/Three credits

ACC 210 COST ACCOUNTING
Deals with the processing, reporting, and use of accounting data for managerial decision making. Focuses on the use of cost accounting as a highly developed quantitative device for the selection and achievement of objectives. Emphasis on cost/volume/profit relationships, job-order costing, process costing, activity-based costing, standard costs, budgeting, capital budgeting, and performance evaluation. Prerequisite: ACC 125–126. Jones, Piwko/Three credits

ACC 211 ACCOUNTING INFORMATION SYSTEMS
The overall objective of the course is to develop a framework for the analysis and design of accounting information systems. Based on this framework, the objective is then to show the student how to analyze accounting information systems that satisfy the transaction processing, reporting, decision making, and internal control requirements. Prerequisite: ACC 125–126. Niece, Jones/Three credits

ACC 310 FEDERAL INCOME TAXES
The course will focus on the Federal Internal Revenue Code, its origins, organizations, principles, and application. The emphasis will be on the tax consequences of decisions made by both individuals and corporations. Specific practical problems will be used to illustrate the application of many of the basic principles of taxation. Consideration will be given to the historic, economic, and social causes and effects of tax law. Prerequisite: ACC 201 or permission of instructor. (Fall) Skypeck/Three credits

ACC 320 ADVANCED ACCOUNTING
This course concentrates on advanced applications of financial accounting concepts not considered in depth in previous courses. Topics covered may include partnership organization, operation, and liquidation; business combinations; special financial reporting issues, governmental and non-profit accounting; Securities and Exchange Commission requirements; and financial reporting by multinational companies. The objective of the course is to expand and refine the problem-solving techniques introduced in ACC 200–201. Prerequisite: ACC 200–201. (Spring) Marino/Three credits

ACC 331 FRAUD EXAMINATION
This course examines the subject of fraud from both management and accounting perspectives. Utilizing a variety of techniques including text, lecture, case studies, and occasional training videos, the course seeks to familiarize students with the conditions which facilitate fraud, the profile of the fraud perpetrator, common types of fraud, and methods of prevention, detection, and resolution. Numerous historical cases of fraud are examined. Prerequisites: ACC125–126, MGT100. Marino/Three credits

ACC 332 FORENSIC ACCOUNTING
This course serves as a follow-on to Fraud Examination, ACC/MGT 331, and builds upon the concepts learned in that course. The course covers the role of the forensic accountant including common types of engagements performed. It includes discussion of specific types of occupational and management fraud in depth with emphasis on detection techniques. There is coverage of the structure of forensic financial investigations, including those related to business frauds, business valuations, and matrimonial settlements. Cases from the text and other sources are used to illustrate key concepts. Prerequisite: ACC/MGT 331. (Spring) Benvenuti /Three credits

ACC 350 PERSONAL FINANCIAL MANAGEMENT
This course will examine personal choices and their impact on the realization of an individual’s financial objectives. The overall personal financial plan is the focus of the course and, accordingly, the course will include discussion of investment selection, housing, inflation, transportation, consumer credit, insurance, and record keeping. It will provide students with a solid grounding in personal financial management principles. Prerequisite: Senior standing or instructor’s permission. (Spring) Foley, Jones, Skypeck/Three credits

ACC 385 INDEPENDENT STUDY IN ACCOUNTING
Open to highly qualified junior and senior majors. Permission of the department chair is required. Staff/Three credits

ACC 395 SPECIAL TOPICS IN ACCOUNTING
This course permits the study of selected topics as designate by the instructor. Topics will change each time the course is offered. Staff/Three credits

ACC 420 AUDITING
An examination of the theory and practice of auditing. Emphasis is on generally accepted auditing standards, professional liability of auditors, ethics of the accounting profession, the structure and conduct of the audit, and the preparation of the auditor’s report. Prerequisites: Senior standing and ACC 200–201. (Fall) Marino/May be taken without Lab for three credits or with Lab for four credits

ACC 420L AUDITING LAB
This optional lab course is open only to Senior Accounting majors concurrently enrolled in ACC 420. Through the use of an audit practice case, Microsoft Excel, and other audit software, it examines the role of the personal computer as an audit tool while reinforcing conceptual foundations presented in ACC 420. Primarily for students interested in public accounting. Presumes a working knowledge of Microsoft Excel. (Fall) Marino/One credit

IDS 250 (CSL) COMMUNITY TAX ASSISTANCE
(FORMERLY INDIVIDUAL INCOME TAX ASSISTANCE) This course combines the study of low-income taxpayers with community service learning. Students examine sociological issues, such as social class, in addition to researching individual tax credits targeted at low-income taxpayers. They will also become proficient with tax software. Students will apply their learning through the electronic preparation of tax returns for low-income Worcester residents. (Spring) Niece/Three credits

Internships & Outcomes

Internships

Assumption accounting students have many opportunities for career internships through the Career Development & Internship Center. Career internships may be paid or unpaid and they offer students valuable, hands-on experience. Establishing a network with accounting professionals and proving one’s abilities often results in job offers. A career internship does not offer academic credit and students generally seek an internship during their junior year or the following summer.

Christopher Waung

Christopher Waung
Accounting and Economics '17
Internship: Internal Audit Intern at The Hanover
“As an Internal Audit intern, I assist with manual audit testing, sampling, audit research and reviewing reports. My involvement in athletics, student government and residential life at Assumption helped me refine my leadership, organization and communication skills to succeed in this internship.”

Our students have held internships in a variety of CPA firms and corporations, including:

Alexander, Aronson & Finning
Deloitte Touche Tohmatsu
Feeley & Driscoll
Grant Thornton
Genzyme Corporation
Mass Mutual
Massachusetts State Auditor
O’Connor & Drew
PricewaterhouseCoopers
Wolf & Co.

To learn more, visit the College's internships page.

Careers

Emma Hall

Emma Hall
Accounting '17
Internship: : Investment Accounting Intern at The Hanover Insurance Group, Inc.
Post-Grad Plans: Pursuing MBA at Assumption College

"My well-rounded education has assisted in almost every aspect of when I did my internship at the Hanover. I gained very valuable experience at my internship and was ready for any challenge thanks to Assumption. I’m pursuing my MBA at Assumption to greater prepare me for entering the field of accounting."

Timothy Cassels

Timothy Cassels
Accounting and Economics '17
Internship: Audit Intern at Alexander, Aronson, Finning & Co, P.C. (AAFCPA)
Post-Grad Plans: Accountant, Alexander, Aronson, Finning & Co, P.C. (AAFCPA)
"Working as an intern at AAFCPAs gave me the chance to apply the material I learned at Assumption and AAFCPAs’ audit trainings across engagements in a number of different industries. The experience taught me the basics of public accounting and reaffirmed my choice to continue into this field after graduation."

Sarah Massiwer

Sarah Massiwer
Accounting '16
Internship: Staff Auditor at Aronson, Aronson and Finning CPAs
Post-Grad Position: Staff Accountant at Aronson, Aronson and Finning CPAs
"During my internship I learned about the public accounting field and was exposed to many different industries. I also learned the accounting rules that apply to these industries in order to successfully audit them."

Alan Harrington

Alan Harrington
Accounting '17
Internship: Audit Intern at Deloitte & Touche LLP
Post-Grad Position: Audit Associate at Deloitte & Touche LLP
"Through my internship I gained insight into both the financial services and commercial industries while working with a variety of clients. I also learned various aspects of the audit practice as well as gained a deeper understanding of legal matters that are intertwined with audits."

Daniel Foster

Daniel Foster
Accounting '15
Internship: Summer Accounting Intern at Amica
Post-Grad Plans: Staff Auditor at Stowe & Degon, LLC, CPAs
"During my internship at Amica, I was able to work in four different departments: Auditing, Financial Reporting and Analysis, Operations and Tax. I obtained a basic understanding of accounting principles and practices through these departments, and was able to build on the knowledge I had gained in the classroom."

Alex Parisi
Accounting '15
Internship: Accounting Intern at SportClips
Post-Grad Plans: Staff Accountant at Prague & Company P.C.
"My accounting classes prepared me for my internship and career, as they helped me not only learn accounting standards and practices, but helped me think critically in the situations and tasks with which I was dealt. At SportClips, I developed a Balanced Scorecard for the company. This experience will assist me in my future as a staff accountant."

Ross Potvin
Accounting '16
Internship: Investment Intern at Rollstone Bank & Trust and Tax Intern at Ingle & Associates
Post-Grad Plans: Staff Auditor at Stowe & Degon
"I felt very prepared for my internships because of the courses I have taken at Assumption. The internships taught me how accounting works in the real-world and how to make business fun."

Courtney Woods

Courtney Woods
Accounting ‘15
Post-grad plan: Staff Accountant at DiCicco, Gulman & Company
“All of the professors in the Business Studies Department, specifically the Accounting professors, were extremely influential in helping me determine my post-grad plans. Every professor in our department has an open door policy and talked through the options for my future with me. They told me how they got to where they are now and helped me choose my future path.”

The College is known for the high job placement rates of its accounting majors.

Our graduates find careers as:

Staff and independent auditors
Internal auditors (corporate employees)
Government auditors
Corporate accountants specializing in financial statements and cost analysis
Government and nonprofit accountants in federal, state, and local governments and educational, charitable, and fraternal organizations
Forensic accountants including fraud investigators and expert witnesses
Tax accountants engaged in research, planning, and compliance
Law enforcement agents focused on white collar crime

Assumption’s accounting program is also an excellent preparation for graduate business school or law school.

Recent employers include:

Alexander, Aronson & Finning
Deloitte Touche Tohmatsu
EMC
Feeley & Driscoll
General Electric
GT Reilly
O’Connor & Drew
PricewaterhouseCoopers
Sovereign Bank
Wolf & Co.

Internship Blogs

Dec 8, 2015

Ben Alper: Tata Consultancy Services Limited (TCS)

Being a quick change artist is very important when it comes to internships, jobs, and/or careers. When I started my internship at TCS in New York City I immediately was faced with change. First of all, I had only been to NYC twice before and knew close to no one in the city. Then, when I arrived at my internship I was informed that they had gotten approval for a consultant for the same job I was assigned. This meant half or more of the work I was supposed to be doing was no longer up for grabs. They said I would instead be working with social media, communications, and branding. My major is marketing, so I accepted this and took it head-on in order to improve my skills. This ended up working in my favor since I learned so much more than just marketing a sponsorship and a sporting event!

Dec 8, 2015

Kelsey Koprusak: Devereux

Throughout my experiences I have learned a lot about the Human Resources field in a Human Services organization. I also came to the conclusion that HR is where I would like to land after graduation!

Nov 30, 2015

Matt Rivers: Leadership Through Service at Joseph P. Keefe Technical High School

My internship experience with the Leadership Through Service Program has taught me a great deal about program planning and development. I help students find their passions and then facilitate programs on how to be an agent for social change through our discussions and retreats. This program strives to enrich student leadership skills through service projects and community involvement.

Nov 24, 2015

Greg Arnold: Country Junkie Nation

Working at Country Junkie Nation has allowed me to execute the communication and marketing skills that I have leaned in my classes in a real world setting, and has also provided an in-depth look at an entrepreneurial setting. Working closely with the co-founders of the company allows me to bounce ideas off of them and receive immediate feedback. The open communication throughout the company has proven to be the perfect setting for advancing my skills.

Nov 16, 2015

Jia Min Hung: Office of Communications, Assumption College

The Office of Communications is the information hub for the Assumption College community; their functions include: developing press relations, interviewing guests, publishing news stories on Assumption’s website, and populating social media.

#ACachieves

Kelsey Pietruska

Marketing ‘17

Internship: Internet Marketing and Branding intern at Berry Insurance Post-Grad Plans: Pursuing MBA at Assumption College

At my internship at Berry Insurance, I used blogs, email campaigns and social media to help the agency grow. Through classes I’ve taken at Assumption, such as online marketing, I became prepared to be successful not only in my internship, but in marketing overall. I’ll be pursuing my MBA at Assumption and continuing to further my preparation to enter the workforce.
Jessica Genatossio

Organizational Communication ‘17

Post-Grad Position: Account Manager at Propel Marketing

Assumption College has truly helped me to secure the position I have today. The advice and connections that the Professors in the Business department and my advisor have been able to provide me with are resources I would not have at any other school. I have been prepared not only inside the classroom, but for interviews, internships, and my career in business.
George Battle

Management ‘17

Internship: Campus Brand Manager (Intern), U-Haul Post-Grad Plans: Sales (Emerge) Leadership Development at Cardinal Health

My Internship with U-Haul was a great experience. I designed and implemented a marketing plan for the spring semester and was able to build new relationships with students and faculty of Assumption. I feel confident in the skills Assumption has helped me develop as I enter my career in sales.
Timothy Cassels

Accounting and Economics ‘17

Internship: Audit Intern at Alexander, Aronson, Finning & Co, P.C. (AAFCPA) Post-Grad Plans: Accountant, Alexander, Aronson, Finning & Co, P.C. (AAFCPA)

Working as an intern at AAFCPAs gave me the chance to apply the material I learned at Assumption and AAFCPAs’ audit trainings across engagements in a number of different industries. The experience taught me the basics of public accounting and reaffirmed my choice to continue into this field after graduation.
Gabriela Rosa

International Business ‘17

Post-Grad Plans: Operations Manager at Amazon

My Assumption experience has prepared me well to enter the workforce. My professors have challenged me to think critically on how to solve problems. After working on various group projects, I’ve learned the importance of listening and working as a team. I’ve become a better person because of the faculty I have had the privilege of working with at Assumption.
Jaclyn Hart

Marketing ‘19

Internship: HR Operations Intern at The Hanover Insurance Group

By participating in clubs and holding various leadership positions at Assumption, I was able to gain various skills such as leadership, time management, and teamwork. I was then able to use these skills to complete my assignments in my internship at the Hanover, while learning more about the corporate world.

Contact Information

Jennifer Niece, CPA

Chair of the Business Studies Department, Associate Professor of Accounting

jniece@assumption.edu

508-767-7245

2018-2019 Course Catalog

Accounting

Course Information

CPA Candidate Educational Requirements

Major in Accounting

BA/MBA Program

Minor in Accounting

Minor in Fraud Examination & Forensic Accounting

Major in Accounting (16 Courses)

Requirements for Uniform C.P.A. Examination and Certification

Minor in Accounting (7 Courses)

BA/MBA Program

Certifications:

Internships

Careers

Internship Blogs

#ACachieves

Contact Information