Accounting

Overview

The Accounting major at Grace College is designed to meet the needs of students who wish to become Certified Public Accountants (CPA) or Certified Management Accountants (CMA) and also for students who do not plan to pursue such a certification.

One measure of success in an accounting program is the percentage of graduates passing the CPA exam on their first attempt. Grace College's percentage of graduates passing the CPA on their first attempt continues to remain consistently higher than the national average. In 2011, Grace graduates placed 10th in the nation out of 793 schools and first in Indiana in first-time CPA exam pass rate. Read the full press release here. In 2014, Grace accounting graduates placed second in Indiana in first-time CPA exam pass rates with only Notre Dame graduates having a higher pass rate. Grace graduates continue to pass the CPA exam at rates significantly above the national average and the average for members of the Council for Christian Colleges and Universities (CCCU). 

The accounting program at Grace has experienced significant growth in the past few years and now has 70+ accounting majors.

 Accounting is a broad field with several different career paths. Graduates may choose to pursue a career such as financial accounting, managerial or cost accounting, auditing, tax, governmental accounting or not-for-profit accounting.

The accounting program at Grace College prepares graduates for such careers and offers the option of students completing both an undergraduate accounting degree and an MBA in only four years. If the student wishes to pursue a certification after graduation (CPA or CMA are the most common), majoring in accounting at Grace provides the necessary coursework in both accounting and business to meet the requirements to take these exams for most states. States now require 150 hours of college credit and passing the CPA exam to become a CPA. The Grace College accounting program helps students achieve 150 hours of credit in four years instead of the five years required at many other colleges. Accounting courses at Grace are appropriately rigorous, preparing students for professional careers in accounting.

Grace Accounting majors often have successful internships at local orthopaedic companies. These internships pay well and are a very positive resume builder. Also, the Accounting department at Grace hosts its own Accounting Job Fair each September with several large CPA firms attending to interview students. Grace accounting graduates receive job offers from Big Four accounting firms, the large national firms, and smaller firms as well as job offers in corporate accounting positions.

 

Course Requirements for B.A. or B.S. in AccountingCourse Requirements for Accounting Minor

Courses

Examples of courses in this major:

ACC 3110-3120 Intermediate Accounting I and II

Integrates accounting theories and concepts in the preparation and analysis of financial statements with emphasis on corporate accounting. During their two semesters, students encounter a detailed study of the balance sheet.

ACC 3210 Cost Accounting

Emphasis on job order cost, process cost and standard cost systems as well as the use of cost data in decision making.

ACC 3250 Computerized Accounting Systems

This course is a practical study in use of technology to record and present accounting data.

ACC 3390 Federal Income Tax

This course provides an overview of the structure of the federal income tax, including the tax treatment of individuals, business entities and investments. Based on this overview, tax compliance, tax planning and the role of taxes in decision making are examined.

ACC 4310 Auditing

Emphasis on the principles underlying the verification of financial statements by independent public accountants and the auditor’s report.

Faculty

Careers

Testimonials