Overview of the Program:
The Department of Accounting provides a rigorous course of study in the accounting discipline. The goal of the program is to leverage the liberal arts environment of the college and develop skilled problem-solvers with a solid foundation in accounting. The program provides opportunities for students to develop their: 1) critical thinking skills, 2) communication skills, 3) ability to utilize quantitative and qualitative information for decision-making, 4) ability to make value judgments, and 5) learning to learn skills, while providing the theoretical accounting foundation necessary for success in future endeavors. Those future endeavors may include, but are not limited to, graduate study; sitting for a professional examination (e.g., CPA, CMA, CIA); or employment with a large corporation, CPA firm, or public entity.

The required program of study provides a broad program which emphasizes understanding the “big” picture instead of mastering a myriad of technical detail without understanding the context for those details. Accounting knowledge and measurements are developed in an environment which is continuously evolving in response to political, social, and economic factors. In our courses we explore the historic reasons for current practices, evaluate alternative measurement models, and discuss ethical values affecting the accounting profession.

Required Courses for the Accounting Major (50 semester hours):
ACCT 203 Accounting Foundations I
ACCT 204 Accounting Foundations II
ACCT 304 Advanced Managerial Accounting
ACCT 353 Intermediate Accounting I
ACCT 354 Intermediate Accounting II
ACCT 363 Tax Accounting
ACCT 393 Developing and Auditing Financial Reporting Systems
ACCT 403 Contemporary Accounting Issues
BUSI 105 Introduction to Commerce
BUSI 306 Business Finance
BUSI 322 Legal Environment of Business
ECON 200 Principles of Economics
MATH 106 Elementary Statistics
One of the following two courses:
BUSI 305 Administration and Organization
BUSI 307 Principles of Marketing
Two of the following eleven courses:
CLAS 224 Word Elements
COMM 333 Organizational Communication
ENGL 301 Advanced Composition
HIST 319 History of the Contemporary World
MATH 151 Calculus I
PHIL 201 Critical Thinking: An Introduction to Logic
PHIL/RELG 207 Ethics: Philosophical and Religious
PHIL 330 Theories of Knowledge
POLS 320 The United States Congress
PSYC 237 Industrial/Organizational Psychology
SOCI 344 Sociology of Work

Required Courses for the Accounting Minor (24 semester hours):
ACCT 203 Accounting Foundations I
ACCT 204 Accounting Foundations II
ACCT 304 Advanced Managerial Accounting
ACCT 353 Intermediate Accounting I
ECON 200 Principles of Economics
One of the following four courses:
ACCT 354 Intermediate Accounting II
ACCT 363 Tax Accounting
ACCT 393 Developing and Auditing Financial Reporting Systems

Certified Public Accounting Exam:
Students who anticipate meeting the 150-semester-hour requirement for sitting for the Certified Public Accounting exam through graduate study should consult with a departmental advisor. This is important as Monmouth College has articulation agreements concerning graduate study with several colleges and universities which have differing requirements. Proper planning will allow the student to meet graduation requirements and articulation requirements within the normal four years of study at the college.

Equipment/Facilities
The third floor of McMichael Academic Hall houses the faculty offices and classrooms which serve accounting majors. Two classrooms (Poling Room and MH 312) are equipped with video/computer projections systems. Most classrooms have tables to facilitate the learning process. A computer lab with 11 workstations is available for student use and facilities providing individual instructional help for computer projects.

Off-Campus Programs
The department encourages and facilitates the participation of its students in a range of off-campus programs. In the past, students have spent a semester in Paris at ESCGI which has permitted them to gain exposure to international accounting and business practices. Students who are interested in off-campus programs need to consult with their advisor early in their academic career to ensure completion of graduation requirements in eight semesters.

Graduate School Opportunities
Graduate school is an option for accounting majors. Monmouth College graduates are prepared to enter MBA or MS in Accounting programs with proper scheduling of classes in consultation with their academic advisor. Illinois currently requires 150-semester hours of education to sit for the CPA exam including a bachelor's degree in accounting.  Some students have elected to enter graduate school directly after graduation, others have elected to enter the workforce and plan to enter graduate school later. In some cases, a graduate's employer will pay for the cost of graduate school if the individual is willing to work full-time and go to school part-time.

The department has developed articulation agreements with several graduate programs which allow students to enter the graduate program immediately upon graduation. These agreements require students to complete courses beyond the major requirements. If this option is desired, early contact with an academic advisor in the department is recommended to ensure meeting requirements of the graduate program the student intends to matriculate.

As part of the department's assessment program, the Master Field Test (MFT) in Business is administered to accounting seniors in the spring. Data from the spring 2000 administration indicated that Monmouth accounting graduates are prepared similarly to graduates of other 4-year institutions which generally require more business, finance, and accounting courses to graduate. Monmouth graduates placed in the 90th percentile in Accounting, Economics, and Finance.