Iowa Wesleyan College

Accounting

The primary goal for the accounting department is to provide an environment where students can develop their skills to prepare to enter the accounting profession in various settings of the students’ choice. Those settings include, but are not limited to, business, government, nonprofit and public practice. The AICPA defines a set of requisite competencies for all students preparing to enter the accounting profession. They include:

1.  Functional Competencies – that relate to the technical competencies, which are most closely aligned with the value contributed by accounting professionals.

2.  Personal Competencies – that relate to the attitudes and behaviors of individuals preparing to enter the accounting profession, and

3.  Broad Business Perspective Competencies – that relate to the context in which accounting professionals perform their services.

These competencies form the detailed outcomes for the accounting major at Iowa Wesleyan College.

Accounting – Management Track

ACCT 327 Intermediate Accounting I........................................... 3 hrs.
     328 Intermediate Accounting II.......................................... 3 hrs.
     351 Introduction to Tax................................................. 3 hrs.
     352 Cost Accounting..................................................... 3 hrs.
     426 Governmental & Nonprofit Accounting................................. 3 hrs.
     427 Auditing............................................................ 3 hrs.

Business Division electives, 300-400 level.................................. 12 hrs.

Field Experience............................................................. 6 hrs.

Total 36 hrs.

ACCT 327 Intermediate Accounting I........................................... 3 hrs.
     328 Intermediate Accounting II...........................................3 hrs.
     351 Introduction to Tax................................................. 3 hrs.
     352 Cost Accounting..................................................... 3 hrs.
     426 Governmental & Nonprofit Accounting................................. 3 hrs.
     427 Auditing............................................................ 3 hrs.
     428 Advanced Accounting................................................. 3 hrs.
     451 Advanced Tax........................................................ 3 hrs.

Business Division electives, 300-400 level................................... 3 hrs.

Field Experience............................................................. 6 hrs.

Total 34 hrs.

Students intending to take the Uniform CPA examination should contact their State Board of Accountancy or the Division chairperson regarding the specific educational requirements of their state. The student can sit for the CPA test after earning 120 hours of education but cannot become a licensed CPA until they have earned 150 hours. It is suggested the student acquire a master’s degree to accomplish this.

Students wishing to transfer credit in Financial Accounting I and II must submit descriptions for these courses for approval, if such descriptions are not already on record at the College. If course descriptions are not available for review, the student must receive a minimum score of 75 percent on an exam covering the topics in these courses before being admitted into intermediate accounting courses.