Accountancy, BS

for the degree of Bachelor of Science Major in Accountancy


department office: 360 Wohlers Hall, 1206 South Sixth, Champaign, IL 61820

phone: (217) 333-0857


department catalog page: Accountancy

department website: https://business.illinois.edu/accountancy/


overview of college admissions & requirements: Gies Catalog

college website: https://business.illinois.edu/


Organizations are a nexus of contracts, implicit and explicit, among resource owners who contract with each other to the benefit of all. In most complex organizations, these contracts specify who has the knowledge, and thus the rights, to make decisions about the use and control of the contracted resources. The effectiveness and efficiency of decisions regarding initiation, execution, and monitoring of organizations' contracts depend on the quantity and quality of information available. The accountant assists in the development, accumulation, evaluation, and dissemination of the information necessary for contracting parties to make effective and efficient contracting decisions. Organizations, in turn, contract with various segments of society such as labor unions, capital markets, regulatory agencies, and governments. The accountant assists in the development, accumulation, evaluation, and dissemination of the information necessary for ensuring that organizations comply with the terms of their social contracts.

Study in accountancy is designed to prepare individuals for entry into the accountancy professions independent of subsequent specialization. This preparation includes knowledge of the activities of organizations, businesses, and accounting practices; intellectual, interpersonal, and communication skills; and personal capabilities and professional attitudes. Specializations in accountancy include such fields as financial accounting, management accounting, accounting information systems, taxation, and auditing. Specialization in an accounting field requires additional graduate education and practical experience. In addition to the accountancy major requirements, students in accountancy must meet the University General Education requirements and the College of Business core requirements (for more detail, see the Gies College of Business undergraduate section).

for the degree of Bachelor of Science Major in Accountancy


Core Curriculum

Normally, students must register for no fewer than 12 hours or more than 18 hours in each semester. Students should take mathematics, economics, and accountancy courses in the semesters indicated in the sample schedule of courses. The computer science course must be taken during the first year. The computer science requirement no longer allows ACE 161 as an equivalent course. A required course that is failed must be repeated the next semester.

Up to 4 hours of Kinesiology activity courses, numbered 100-110 may be counted toward the 124 hours for the degree. The same section of a course may not be repeated for credit. Credit is limited to a maximum of 12 credit hours for 199 courses. Students may receive foreign language credit for courses only 2 levels below highest level taken in high school. For example: 4 years of high school French-no credit below FR 102.

Credit toward the 124 degree hours is not given for MATH 101. Once the math requirement is completed, lower level math courses cannot be taken for credit. For military and naval science courses, only credit at the 300 level and above may be counted toward the degree.

Any course used to fill a specific degree requirement may not be taken on the credit-no credit grade option. Only free electives may be taken on the credit-no credit option. All finance and accountancy courses must be taken for a grade. It is recommended that all courses taken in the business administration area be taken for a grade.

University Composition Requirements

Composition I: Principles of Composition 14-7
Advanced Composition3

General Education Requirements

A minimum of six courses is required, as follows:18
Humanities & the Arts: Literature & the Arts (1-2 courses) 4
Humanities & the Arts: Historical & Philosophical Perspectives (1-2 courses) 4
Natural Sciences & Technology: Physical Sciences (0-2 courses) 5
Natural Sciences & Technology: Life Sciences (0-2 courses) 5
Behavioral Sciences (1 course)
Cultural Studies: Non-Western Cultures (1 course)
Cultural Studies: U.S. Minorities Cultures (1 course)
Cultural Studies: Western/Comparative Cultures (1 course)

Non-Primary Language Requirement

Completion of the fourth semester or equivalent of a non-primary language is required. Completion of four years of a single language in high school satisfies this requirement. A student may also meet this requirement by completing two non-primary languages to the third level.0-12

 Business Core Requirements

BUS 101Professional Responsibility and Business 23
BUS 201Business Dynamics3
ACCY 201
ACCY 202
Accounting and Accountancy I
and Accounting and Accountancy II
6
BADM 300The Legal Environment of Bus3
BADM 310Mgmt and Organizational Beh 63
BADM 320Principles of Marketing3
BADM 449Business Policy and Strategy3
CS 105Intro Computing: Non-Tech3
ECON 102
ECON 103
Microeconomic Principles
and Macroeconomic Principles
6
BADM 210
BADM 211
Business Analytics I
and Business Analytics II
6
ECON 302Inter Microeconomic Theory3
FIN 221Corporate Finance3
MATH 234Calculus for Business I 34
CMN 101Public Speaking3
Total Hours52
Courses to yield this total15-38
Elective course work0-32
Minimum total hours for the degree124

Minimum requirements in the major for the Bachelor of Science Degree in Accountancy are:

ACCY 301Atg Measurement & Disclosure3
ACCY 302Decision Making for Atg3
ACCY 303Accounting Institutions and Regulation3
ACCY 304Accounting Control Systems3
ACCY 312Principles of Taxation3
ACCY 405Assurance and Attestation3
or ACCY 415 Auditing Stds and Practice
Select one of the following:3
Advanced Financial Reporting
Advanced Income Tax Problems
Total Hours21

Accountancy courses (both required and elective) to be applied toward the 124-hour requirement for the Bachelor of Science Degree in Accountancy may not be taken on a credit/no-credit basis. In addition, a limit of 33 hours of accountancy courses (including ACCY 201 and ACCY 202) may be counted toward the 124 total hour requirement. Finally, students must select from either ACCY 405 or ACCY 415.  Both courses cannot count toward the Bachelor of Science degree.