Accounting undergraduate courses teach students how to gather, document, interpret and synthesize financial data and information. Students choose an accountancy major because they not only enjoy numbers, but also enjoy working with people.

Principles of Accountancy Classes

All accountancy students take classes focusing on the fundamental principles of accountancy. These classes cover the essential concepts and skills needed to properly identify, measure and report financial data. Therefore, students learn how to evaluate financial information from the perspectives of a financial expert and a management authority. As a result, students are prepared to successfully collaborate with upper management on financial decisions, planning and controlling. Advanced classes explore applied accountancy theories within the working business environment. Students learn how to create detailed documents that aid executes in making better financial decisions. Other advanced topics include assets, liabilities, payroll, investments and statements of cash flows and financial analysis.

Microeconomics and Macroeconomics

Accounting undergraduate courses always include classes on microeconomics and macroeconomics. These classes delve into the history, terminology and basic theories of these economic specialization areas. Students learn how the principles of microeconomics and macroeconomics play a daily part in individual lives and collective societies. The practical applications and fundamental concepts of microeconomics and macroeconomics are studied through actual economic events and their resulting impact on people’s lives. These classes provide the student with a holistic overview of the financial world.

Core Accountancy Classes

One of the most basic class for accountants is cost accountancy. This basic classes teaches budgeting, cost flows, standard systems and inventory controls. It also covers capital asset selection and performance measurement. Advanced classes explore the conceptual frameworks of finance, such as revenue recognition, the time value of money and the income statement and balance sheet. Other important topics include intangible assets, contingency plans and full disclosure issues and associated ethical dilemmas.

Taxation

Taxation

classes cover basic topics, such as equity, pensions, retirement, investments and income taxes. A corporate taxation course introduces the student to state and federal corporate taxation regulations. The goal is to prepare students to resolve common tax issues. As an added benefit, students study the laws, history and guidelines of federal taxation. Other core taxation classes cover individual and estate taxation, who prepare the future accountant to file individual tax returns and deal with federal estate taxation issues.

Auditing

Auditing classes teach students about contemporary auditing theories and practices, including how to analyze financial reports, set internal controls and use an Electronic Data Processing (EDP) system. Students master basic concepts, such as auditing tools, standards, evidence and documentation. They also learn about planning, implementing and evaluating a comprehensive audit program. Advanced audit classes cover audit reports, legal responsibilities and professional ethics.

What are the Benefits of Becoming an Accountant?

A degree in accountancy provides a structured, clear career path with plenty of potential for growth. According to the Bureau of Labor Statistics (BLS), accountants have excellent earning potential. The BLS projects the average annual salary at over $63,000. Equally important, accountants enjoy flexibility when it comes to work location and job specialization. That is, accountants are universally needed and can work in the four main accountancy branches: taxes, auditing, financial and management.

In short, accounting undergraduate courses thoroughly prepare students to become successful accountants who are competent and knowledgeable.