Catalog

The accounting area of emphasis prepares students for careers in which they will develop, analyze, and interpret complex financial data. Accounting majors become experts in “the language of business.” This expertise prepares them for careers in CPA firms, business consulting, industry (from Fortune 500 companies to small entrepreneurial enterprises), not-for-profit enterprises, or government. Accountants who develop careers in public accounting may become partners in public accounting and consulting firms. Those who make their careers in industry may have positions as a chief executive officer (CEO), chief financial officer (CFO), chief accounting officer (CAO) or controller, tax specialist, internal auditor, accounting systems analyst, financial analyst, or managerial accountant. Many students begin their careers in CPA firms and move to industry or government after several years of experience. Employers seek students with skills in communication, interpersonal interactions, analytical thinking, problem solving, and integrity.

The four major areas of study in the accounting area of emphasis are: Financial Accounting and Analysis, Tax Planning and Compliance, Managerial Accounting, and Auditing and Assurance Services. Basic course work in accounting focuses on developing a comprehensive understanding of the theory and concepts underlying the presentation of financial and operating information about an enterprise to external and internal users. Additional course work exposes the student to income taxation of business enterprises and individuals, the practice and principles of auditing and assurance services, and cost management. Specialization is available through graduate work.

Most accounting students from the University of Colorado earn professional credentials within a few years of completing their degrees. The two major types of professional certification are certified public accountant [CPA] and certified management accountant [CMA]. The CPA’s expertise focuses on presentation and analysis of financial information for an external user. The CMA’s primary focus is improving information for the internal user. Professional accountants’ expertise in financial matters and their understanding of company operations through financial information prepare them to become key players and critical decision makers for all aspects of business creation, operation, and transformation.

Requirements for the CPA license vary significantly by state. Every state requires that the candidate pass the Uniform CPA Examination (a standard national exam), but the requirements regarding educational background and work experience are state-specific. Colorado is one of the few states that requires only a bachelor’s degree (at least 120 hours) to sit for the CPA exam. Most states have passed rules requiring 150 hours of university education. All states write their own rules about the number of hours, specific courses, and experience required for becoming a CPA in that state. It is very important that the accounting student obtain the guidelines for the relevant state to ensure proper development of his or her degree plan (see NASBA.org).

The degree options are:

1. The bachelor of science in business administration with an emphasis in accounting. This degree may be earned by a student who takes 18 hours of accounting beyond the core. The 18-hour requirement for the degree does not qualify the student to sit for the CPA exam in any state. This option may be chosen by a student who does not want to become professionally certified but who seeks a career involving accounting and financial analysis in industry, government, or not-for-profit enterprises.

The undergraduate area of emphasis in accounting consists of at least 18 semester hours of course work beyond the undergraduate core requirements.

2. The bachelor of science in business administration with an emphasis in accounting, enhanced by additional course work required to sit for the CPA exam in various states. The student who aspires to earn the CPA credential must go beyond the basic college requirements for earning an area of emphasis. These requirements vary by state, but always include significantly more hours in accounting. Faculty advising is available, but each student is responsible for determining the relevant requirements for the desired state of residence following graduation (see NASBA.org).

3. The concurrent bachelor of science/master of science degree in business administration with a concentration in accounting or taxation. This program allows the student to earn both a bachelor’s and a master’s degree. Both concurrent degrees may be in accounting, but many students who choose the concurrent degree option plan their programs so that they are awarded a bachelor’s degree emphasizing finance or systems and a master’s degree in accounting. This program includes an optional (but highly recommended) for-pay/for-credit internship. This degree plan best prepares the student for becoming a CPA. Details on this program are provided under the Graduate Degree Programs section.

None of the degree options described above qualifies the student for the Colorado “education in lieu of experience” CPA licensing rule. Additional planning and course work is necessary to meet this rule.

The finance area of emphasis is designed to provide students with in-depth exposure to the theoretical concepts and applied tools and techniques necessary for entry-level positions in various areas of financial management. The principal areas of study include business financial management, investments and derivative securities, and financial markets and institutions.

Finance is an applied discipline with an analytical orientation. Effort is made to develop students’ ability to think logically about financial problems and to formulate sound financial decisions and policies. Although the emphasis is on financial management of profit-oriented organizations, the principles and concepts developed are also applicable to not-for-profit and governmental organizations.

It is strongly recommended that finance students take additional accounting courses.

The Quantitative Finance Track is one of two tracks that make up the Actuarial Studies and Quantitative Finance Certificate Program and is co-sponsored by the Leeds School of Business and the College of Arts and Sciences. The program is interdisciplinary and rigorous. The goal of the program is to augment the financial education provided by the Leeds School with a more extensive mathematical base.

The analytical demands of business are increasing rapidly and constantly. This program is designed to prepare students for the increased requirements of the most attractive financial analyst positions. In addition, the program provides a solid base for success in graduate studies.

Program requirements are extensive and challenging. Students must maintain a GPA of 3.000 for all courses fulfilling program requirements and must achieve a grade of B or better in each of calculus 1, 2, and 3. Most students will begin study during the freshman year and continue throughout their undergraduate career. A brief summary of course requirements is presented below. For a complete list of requirements and further information regarding the quantitative finance track and the related actuarial studies track, see the Actuarial Studies Program website. The certificate program is also described in the College of Arts and Sciences section. Interested students should contact the Chair, Finance Division, Leeds School of Business.

The management area of emphasis addresses the effective management of people, organizations, and technology to improve the performance of diverse public and private organizations. The area provides the managerial skills necessary for success in entry-level positions, and builds the foundations required for success in management positions of greater responsibility, authority, and leadership. Students completing the management area of emphasis are viewed by potential employers as having the broad-gauged education required in the team-oriented, horizontally organized, and globally competitive environments of the 21st century. The management area of emphasis prepares students for careers in general management or can serve as a strong secondary major to complement another functional area.

The management area of emphasis begins with three required courses covering modern theories of quality management and the development of critical managerial skills.

Students must choose one of two tracks, one emphasizing the management of human resources, and the other emphasizing the management of operations. Cross-over courses are also possible with students in one track taking elective courses in the other track.

Human Resource Management Track

The human resource management track provides students with the knowledge and skills necessary to earn certification in human resources from the Society of Human Resources, the principal professional society in the field. Graduates are qualified to act as human resource generalists in small- to medium-sized companies; specialists in organizations with more diverse human resource units; or well-rounded general managers in any organization.

Operations Management Track

The principal function of any organization is the efficient creation and delivery of products and services to its customers. The operations management track focuses on this creative process and identifies how organizations use productivity, quality, flexibility, timeliness, and technology to compete and prevail in their markets. Students graduating from the operations management track will have a broad understanding of the importance of operations in the success of any organization, and will be qualified to serve in entry-level line management positions and as general managers later in their careers.

The marketing area of emphasis hones skills in analysis and decision-making for a wide spectrum of marketing careers in fields such as advertising, market research, brand management, e-business, selling and sales management, distribution, industrial and business-to-business marketing, international marketing, the marketing of services, and marketing for not-for-profit organizations.

Marketing strategies are essential to the communication and sale of both products and services. They are applied across consumer and business markets, across domestic and global boundaries, and across traditional and electronic business environments. Key concepts focus on identifying customer needs and wants, developing products and/or services to satisfy these needs and wants, establishing channels and communications to move products and services through intermediaries to end users, and monitoring transactions and customer responses to guide future activities.

Students should choose from one of the following two plans for taking required marketing courses. Students with a marketing emphasis must take 18 hours of marketing courses beyond BCOR 2400. These students should select Plan A. Plan B is intended for those students wishing to take marketing courses as part of their business electives.

Students pursuing a marketing emphasis (Plan A) will need three semesters to complete the required course work (beyond BCOR 2400).

Plan A

Plan B

Advances in business knowledge and technology have radically changed business systems and processes—for example, how organizations buy and sell goods and services, integrate their supply chain and logistic systems, and reach or retain customers. As a result, critical to today’s businesses is the ability to get the right information to the right people at the right time, so that both strategic and operational decisions are made properly and quickly. Students majoring in operations and information management will learn to recognize the pivotal roles that operations and information systems play in the business world and to use their knowledge to increase business competitiveness. They are exposed to a range of tools, methods, and techniques for addressing issues such as the design of business operations, the selection and implementation of new technologies, and the creation of processes that effectively connect with customers, suppliers, and distributor channels. Students are prepared to be leaders in the effective utilization of information in business.

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