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Department of Accounting & Finance

Bachelor of Science in Accounting

Mission of Accounting Program

The mission of the undergraduate accounting program is to provide a high quality accounting education, through teaching, intellectual contributions, professional interaction and service, for the culturally diverse and multi-ethnic populations of Baltimore and other urban centers in the state and nation. The primary aim of the program is to prepare students for entry level careers in all areas of accounting including public accounting, private industry, federal, state and local governments and non-profit organizations. The program also seeks to prepare students for further study at the graduate level. While quality teaching is central to the program's mission, it recognizes the interrelationship among quality teaching, research and service. The program seeks to ensure that the intellectual output, professional interaction and public service of faculty enhance the instructional component of the program's mission.

Objectives of the Accounting Program

The accounting program, along with Morgan State University's strong liberal arts foundation and comprehensive business requirements, provides a broad educational base that qualifies students for a variety of careers and development opportunities. The accounting program provides students with the technical and professional knowledge needed for entry level positions in all areas of accounting, and develops and enhances the skills needed for overall success in business careers including critical thinking skills, technological skills, communication and interpersonal skills, and problem solving skills.

The program also provides students with exposure to global, political, social, legal, regulatory, ethical and environmental issues as they relate to business and accounting. It offers a well rounded business education and accounting foundation sufficient for future career growth and further educational development.

For students interested in becoming Certified Public Accountants (CPAs), the program offers the specific courses required by the state of Maryland to sit for the CPA examination.

Effective October 1, 2011, applicants are required to have completed 120 undergraduate semester hours and a baccalaureate degree in order to take the CPA examination. However, to obtain the license to practice as a CPA, 150 semester hours are required. Morgan provides opportunities for students to obtain the 150 credit hours for CPA licensure. There are three options:

  1. Take additional undergraduate courses in the major or any other courses. Recommended courses include courses in information systems, computer science, communications, finance and foreign languages. A minor in finance is available in the Department. A minor in information systems is available through the Department of Information Science and Systems (INSS).
  2. Pursue a general MBA degree offered by the Graves School.
  3. Pursue the master's degree in accounting (MAAC degree) offered by the Department of Accounting and Finance.

For additional information on the requirements for the CPA examination in Maryland, go to the Maryland Board of Accountancy website

Requirements for a Major in Accounting

In addition to the general education requirements and the business core requirements, students that declare a major in accounting during fall 2014 semester or thereafter must take an additional 24 credit hours in accounting courses as listed below:

Required Accounting Courses (21 credits):

Credit Hours

ACCT 300 Cost and Budgetary Control


ACCT 308 Accounting Information Systems


ACCT 320 Federal Income Taxation I


ACCT 331 Intermediate Accounting I


ACCT 332 Intermediate Accounting II


ACCT 406 Auditing


ACCT 499 Contemporary Issues in Accounting


Required Accounting Electives (3 credits):
Any two of the following:

Credit Hours

ACCT 307 International Accounting


ACCT 321 Federal Income Taxation-Business Entities


ACCT 401 Advanced Accounting


ACCT 402 Governmental, Non-Profit Accounting


Both of the following two courses may be completed to substitute for one accounting elective:

ACCT 480 Volunteer Income Tax Accounting 1
ACCT 497 Accounting Internship/Cooperative Education 2

Students interested in the CPA examination in Maryland should take BUAD 382 Business Law for the SBM elective as this course is required to sit for the examination.

Requirements for a Minor in Accounting for Students Enrolled in the Graves School of Business and Management

To minor in accounting, business students must take four accounting courses beyond the business core.  ACCT 331 and ACCT 300 are required and should be taken together. The other two courses may be selected from ACCT 308, ACCT 320 and ACCT 332. At least two semesters will be required to complete the accounting minor. Students interested in the auditing focus may take ACCT 331, ACCT 332 and ACCT 406 to fulfill the minor in accounting. Three semesters will be required to pursue the auditing focus.

Bachelor of Science - Accounting Suggested Sequence of Courses

The following is a general curriculum guide for a major in accounting appears below.

Effective Fall 2014 - TOTAL 121 credit hours

Freshman Year

1st semester - 15 credits

2nd Semester - 16 credits

Course No.


Course No.


ENGL 101

Reading & Writing I

ENGL 102

Reading & Writing II


Social Science Elective


Social Science Elective

MATH 113

Intro to Math Analysis


Health Education Elective

ORBM 102

Freshman Orientation

INSS 141

Digital Lit & App Soft


Biol & Phys Science Part A 


Biol & Phy science Part B 



Physical Education Elective

Sophomore Year

1st semester - 15 credits

2nd Semester - 15 credits

Course No.


Course No.


BUAD 202

Professional Development Seminar

PHIL 109

Introduction to Logic

MATH 201

Calculus for Non-Science Majors

INSS 220

Analytical Decisions in Business

ACCT 211

Principles of ACCT I for ACCT Majors

ACCT 212

Principles of ACCT II for ACCT Majors


Arts & Humanities Elective


Arts & Humanities Elective

ECON 211

Economics I (Macro)

ECON 212

Economics II ( Micro)



Junior Year

1st semester - 18 credits

2nd Semester - 18 credits

Course No.


Course No.


INSS 360

Management Info Systems

ENGL 357

Business Communications

ACCT 331

Intermediate Accounting I

BUAD 381

Legal & Ethical Environment

ACCT 300 

Cost Accounting 

ACCT 332

Intermediate Accounting II

MKTG 331

Principles of Marketing 

ACCT 308

Accounting Information Systems

MGMT 324

Organizational Behavior

BUAD 326

Business Ethics and Society

FIN 343

Managerial Finance

BUAD 327

 Fundamentals of International Business

Senior Year

1st semester - 12 credits

2nd Semester - 12 credits

Course No.


Course No.


ACCT 320

Federal Income Taxation-Individuals

ACCT 406


MGMT 328

Production Management

ACCT 499

Contemporary Issues In Accounting 

HIST 350

African Diaspora


SBM Elective (BUAD 382 recommended)


Accounting Elective

BUAD 499 

Business Policy 

Accounting Course Offering

ACCT 201 PRINCIPLES OF ACCOUNTING I - Three hours; 3 credits.
This course is directed towards the user of financial information. Its goal is to provide the tools for making more informed business decisions. The course includes an analysis of the various financial statements and their uses and limitations in making business decisions. A detailed analysis of the components of financial statements and their economic impact on wealth creation for the organization is emphasized. Prerequisites: ENGL 101, INSS 141 and MATH 113 with a grade of "C" or better. (FALL, SPRING).

ACCT 202 PRINCIPLES OF ACCOUNTING II - Three hours; 3 credits.
This course is a continuation of ACCT 201 with a focus on financial accounting for the first half of the course and a focus on managerial accounting. The course commences with the big picture of financial statement analysis and continues on managerial accounting topics such as management cost concepts, procedures for product costing, managerial planning and control, and tools and analyses used for decision-making. Prerequisite: ACCT 201 or ACCT 211 with a grade of "C" or better. (FALL, SPRING).

ACCT 211 PRINCIPLES OF ACCOUNTING I FOR ACCOUNTING MAJORS -Three hours;  3 credits.  This is an introductory accounting course focusing on financial accounting designed specifically for accounting majors. It emphasizes the accounting cycle including the accrual-basis system for recording transactions, adjusting entries, financial statement preparation, and closing entries. Other topics to be covered are: accounting for merchandising activities, valuation accounts receivable, inventory, short term investments, plant assets, natural  resources and current liabilities. This course is required of all accounting majors. Prerequisites: ENGL 101, INSS 141 and MATH 113 with a grade of "C" or better.

ACCT 212 PRINCIPLES OF ACCOUNTING II FOR ACCOUNTING MAJORS - Three hours; 3 credits.  The purpose of this course is to provide a basic knowledge of accounting principles, theories and concepts. This course is a continuation of ACCT 211 with emphasis on managerial accounting topics. Topics to be covered include: financial statement analysis, concepts, procedures and analysis for product costing, managerial planning, control and decision-making, budgetary planning and control, and capital investments. This course is required of all accounting majors. Prerequisite: ACCT 201 or ACCT 211 with a grade of C or better.

ACCT 300 COST & BUDGETARY CONTROL - Three hours; 3 credits.
The course provides in-depth coverage of cost behavior, product costing, cost-volume-profit analysis, budgeting, cost structures for variance analysis, direct costing, activity based costing and special managerial decisions. The design, interpretation and identification of opportunities and methods for improving costs and performance are discussed. Prerequisite: ACCT 202 with grade of "C" or better. (FALL, SPRING).

ACCT 307 MULTINATIONAL ACCOUNTING - Three hours; 3 credits.
This course addresses how the internationalization of capital markets and the dramatic increase in the foreign direct investments of multinational enterprises have increased the need for relevant, timely and comparable information about the activities of business enterprises having operations in more than one nation. This course describes some of the historical and current developments that push for commonality in accounting and reporting standards at national, regional, and international levels. The cultural and perceived ethical differences relative to accounting and reporting are examined. Prerequisite: ACCT 300 with grade of "C" or better. (SPRING).

(Formerly, this course was ACCT 408.) This course studies accounting systems that include the events and the stops of the accounting cycle, from source documents to the preparation of financial statements, both manual and computerized. Additional topics covered are internal controls, the impact of technology on accounting systems, data management and e-commerce. The course stresses problem solving, critical thinking, and computer application skills. The course also provides hands-on experience with accounting, flowcharting, and database software. Prerequisites: ACCT 202 and INSS 360 with grade of "C" or better. (FALL, SPRING).

This course is open to NON ACCOUNTING majors only. The course focuses on accounting in the hospitality industry. Accounting concepts, statements and principles are discussed relative to the accounting cycle. Financial and managerial accounting techniques and processes applicable to the measurement and management of assets and liabilities are covered. Ethics, global diversity and technology as they relate to hospitality management are introduced. Prerequisite: ACCT 201 with grade of "C" or better. (FALL).

ACCT 320 FEDERAL INCOME TAXATION I - Three hours; 3 credits.
This course provides an explanation of the Federal tax structure and principles. The focus is on individual tax issues and planning from a domestic and international perspective. Prerequisite: ACCT 202 with grade of "C" or better. (FALL, SPRING).

ACCT 321 FEDERAL INCOME TAXATION II - Three hours; 3 credits.
Federal income taxation of partnerships, corporations, S-corporations, estates and trusts, gifts, installment sales, and tax research. Prerequisite: ACCT 320 with grade of "C" or better. (SPRING).

ACCT 331 INTERMEDIATE ACCOUNTING I - Three hours; 3 credits.
The course gives an intense coverage of financial accounting theory and practice, including, the conceptual framework underlying financial accounting, statement of income and retained earnings, balance sheet and statement of cash flows, cash and receivables, inventory valuation, and revenue recognition alternatives. Prerequisite: ACCT 202 with grade of C or better. (FALL, SPRING).

ACCT 332 INTERMEDIATE ACCOUNTING II - Three hours; 3 credits.
The course covers a continuation of accounting theory and practice including accounting for property, plant, equipment, natural resources, intangible assets, current and long-term liabilities, contributed capital, retained earnings, dilutive securities, EPS calculations and temporary and long-term investments. Prerequisite: ACCT 331 with grade of "C" or better. (FALL, SPRING).

ACCT 401 ADVANCED FINANCIAL ACCOUNTING (Honors) - Three hours; 3 credits.
This course provides an in-depth coverage of accounting concepts, principles, and procedures applicable to partnerships; contemporary financial accounting theories and practices for complex business entities; mergers and consolidated financial statements; fundamental aspects of international accounting principles; and analytical approaches to aid the solution of complex accounting problems.
Prerequisite: ACCT 332 with grade of "C" or better. (FALL).

Accounting principles, concepts, and practices in municipal and other governmental units are covered with emphasis on fund accounts. The related budgetary and encumbrance procedures are included. The use of fund and financial accounting principles and practices relative to non-profit hospitals, colleges/universities, and associations receive particular attention. Prerequisite: ACCT 332 with grade of "C" or better. (FALL, SPRING).

ACCT 406 AUDITING - Three hours; 3 credits.
This course is an examination of the concepts and principles underlying the financial statement examination and review process. Risk exposures along with procedures for managing risk, which include ethical and international issues, are studied. Prerequisite: ACCT 332 with grade of "C" or better. (FALL, SPRING).

This course provides field work in the preparation of individual income tax returns (State and Federal) covering topics of gross income, deductions and credits. Prerequisite: ACCT 320 with grade of "C" or better or permission of instructor. (SPRING).

This course provides an opportunity for students to broaden their educational experience through supervised work assignments in the accounting area with an accounting firm, corporation or government agency. Prerequisite: ACCT 331 with grade of "C" or better, or approval of Department Chairperson (FALL, SPRING, SUMMER).

ACCT 499 CONTEMPORARY ISSUES IN ACCOUNTING - Three hours; 3 credits.  This course is designed as a capstone course where contemporary accounting topics are discussed. Simulations, exercises and case analyses are used with emphasis on developing students' analytical and problem-solving skills as applied to current accounting issues. Prerequisites: ACCT 300, ACCT 308, ACCT 331 and ACCT 332 with a grade of C or better. (SPRING).