Accounting and Taxation
Accounting is the language of business. All Gabelli School students need to understand the basics of accounting, both for their courses at Fordham and for their business careers. Students receive rigorous exposure to financial accounting in the integrated business core, and those who choose can continue with a program of study that prepares them to succeed on the CPA exam and obtain other highly regarded certifications.
The study of accounting does not end in the classroom. Fordham fields teams regularly for regional and national competitions in accounting and taxation. These competitions are run by major accounting firms, such as Deloitte, KPMG, PwC, and EY. Guest speakers from accounting firms, Fortune 500 corporations, and regulatory and standard-setting agencies, such as the Financial Accounting Standards Board and the Public Company Accounting Oversight Board, frequently appear on campus and provide networking opportunities for students.
Accounting students may join the on-campus student chapters of several prominent professional and academic groups. Active involvement in these groups often paves the way for internships and subsequent job offers. These organizations include:
- ALPFA, the Association of Latino Professionals in Finance and Accounting
- Ascend, the premier nonprofit professional association for Pan-Asians
- Beta Alpha Psi, the honor society for finance and accounting students and professionals
Program Requirements
Gabelli School students may integrate accounting into their academic program in several ways: As a major (through one of four options), as a minor, or as a concentration within the Business Administration major.
One of the four majors is the Public Accountancy program, which is a five-year program that leads students to complete the 150 credits that New York State requires for individuals who want to take the Certified Public Accountant (CPA) exam and earn licensure. With the other three majors, students may elect to pursue licensure, or not.
The Road To Licensure: Various Paths
By the time a student sits for the CPA exam, if licensure is his or her goal, he or she must have logged the 150 course hours mandated by New York State. Fordham has developed a variety of paths that students can pursue to reach that total.
As noted above, the five-year undergraduate Public Accountancy major is one of them. But there are other paths, too. Dual-degree programs merge a bachelor’s with a master’s degree at the Gabelli School. By the time a student completes both his or her undergraduate and graduate degree in five years, he or she will have reached the 150-hour level and be qualified to sit for the CPA exam.
The table below offers an overview of how the various licensure paths are structured. Students who wish to pursue one of these paths should apply during their senior year; please review the Dual-Degree Programs information on the Gabelli School website and contact the dual-degree programs adviser for more information.
| Undergraduate Major | Certified Public Accountant (CPA) Licensure Determination | Supplemental Graduate Concentration Leading to Licensure | |
|---|---|---|---|
| Single Degree | |||
| 150-credit B.S. in Public Accountancy (CPA-track) | Meets the educational requirements for licensure, either directly or through reciprocity, in all 50 States as a stand-alone degree, without supplemental graduate coursework as of March 24, 2021. | N/A | |
| Dual Degree | |||
| B.S. in Public Accounting | Does not meet the educational requirements for licensure as a stand-alone degree in any State as all States required 150 credits minimum for CPA licensure among other requirements. However, the program does meet the educational requirements for licensure, either directly or through reciprocity, in all 50 States when combined with qualifying supplemental graduate coursework identified in this table as of March 24, 2021. | combined with: | (a) M.B.A. Public Accounting (b) M.B.A. Finance
(c) M.B.A. Information Systems
(d) M.B.A. Communication and Media Management
(e) M.B.A. Management
(f) M.B.A. Marketing
(g) M.S. in Professional Accounting (h) M.S. in Professional Taxation |
| B.S. in Applied Accounting and Finance | Does not meet the educational requirements for licensure as a stand-alone degree in any State as all States required 150 credits minimum for CPA licensure among other requirements. However, the program does meet the educational requirements for licensure, either directly or through reciprocity, in all 50 States when combined with qualifying supplemental graduate coursework identified in this table as of March 24, 2021. | combined with: | (a) M.B.A. Public Accounting (b) M.S. in Professional Accounting |
| B.S. in Accounting Information Systems | Does not meet the educational requirements for licensure as a stand-alone degree in any State as all States required 150 credits minimum for CPA licensure among other requirements. However, the program does meet the educational requirements for licensure, either directly or through reciprocity, in all 50 States when combined with qualifying supplemental graduate coursework identified in this table as of March 24, 2021. | combined with: | M.S. in Professional Accounting |
| Undergraduate Minor or Concentration | |||
| Accounting Minor | Completing the Accounting Minor is not equivalent to an accounting degree, nor does it meet the educational requirements for licensure as a stand-alone credential, either directly or through reciprocity, in any State. | N/A | |
| Concentration in Accounting | Completing the Concentration in Accounting is not equivalent to an accounting degree, nor does it meet the educational requirements for licensure as a stand-alone credential, either directly or through reciprocity, in any State. | N/A |
Requirements for the Certified Public Accountant (CPA) license are subject to State-specific requirements and typically require more than successful completion of educational requirements. CPA licensure candidates must satisfy pertinent additional requirements, contingent on State specificities, including but not limited to completing the CPA application process, submitting payment for all relative fees, passing licensure examinations, and professional experience.
Students are encouraged to regularly visit the National Association of State Boards of Accountancy website and the American Institute of Certified Public Accountants website to stay apprised of any additional relevant licensure requirement updates. Please refer to the table above to review in which States your program meets the educational requirements for professional CPA licensure as of March 24, 2021.
For further information, please refer to the respective pages for each program. Students are encouraged to meet with their class dean and/or the accounting adviser for additional information regarding the programs.
How courses are counted
Students must note the following policy for how courses are counted. A student may count a maximum of one class in fulfilling more than one purpose—that is, toward any combination of major, minor, and primary or secondary concentration. For example, only one economics class could count toward both a finance major and an economics minor; any additional economics class would count toward the finance major OR the economics minor, but not both. Similarly, one management class could count toward both a primary concentration in management and a minor in sustainable business, but any subsequent management class would not count toward both. Any exceptions to these rules will be posted within the specific area major, minor, or concentration requirements.
For more information
ACBU 2000. Accounting Enrichment Seminar. (0 Credits)
The Accounting Enrichment Seminar is a series of sessions providing supplemental support for the primary topics taught in the Financial Accounting (fall) and Managerial Accounting (spring) courses.
ACBU 2222. Principles of Financial Accounting. (3 Credits)
This course covers the basic of financial accounting. Students will learn the accounting cycle and accounting terminology, and they will master the major recognition, measurement and disclosure principles that serve as the foundation for financial accounting. In addition, students are introduced to the basics of analyzing financial statements for decision making.
Attributes: ACMI, BUMI.
ACBU 2223. Principles of Managerial Accounting. (3 Credits)
This course covers how to measure and use cost data for internal decision making under uncertainty. Among the topics covered are job costing, process costing, standard costing, activity-based costing, budgeting, balanced scorecard, direct versus indirect cost measures, cost volume profit analysis, and management control systems.
Attributes: ACMI, BUMI.
Prerequisite: ACBU 2222.
ACBU 3421. ST: Accounting Information Systems. (3 Credits)
This course introduces students to computer-based accounting information systems (AIS). Students master the understanding of business processes, transaction cycles and internal controls, as well as their respective current day systems components.
Attributes: ACMI, BUMI, PRQU.
Prerequisites: (INSY 2300 (may be taken concurrently) or INSY 2299) and ACBU 2222.
ACBU 3434. Intermediate Financial Accounting I. (3 Credits)
This course is the first of a two-semester course of intensive study in accounting theory and its applications. Major topics include the conceptual frameworks, special cases of revenue recognition and the accounting standards that pertains to current and noncurrent assets.
Attributes: ACMI, BUMI.
Prerequisite: ACBU 2222.
ACBU 3435. Intermediate Financial Accounting II. (3 Credits)
This course is the continuation of ACBU 3434. The course contains rigorous, in-depth coverage of current and noncurrent liabilities, as well as owners' equity. In addition, the course revisits the cash flow statement for additional pertinent topics.
Attributes: ACMI, BUMI.
Prerequisite: ACBU 3434.
ACBU 3436. Global Financial Statement Analysis. (3 Credits)
This course provides students with the tools necessary to understand, analyze, and use the information provided in corporate financial statements in a global environment. Students learn to analyze complex accounting issues under both domestic and international generally accepted accounting principles.
Attribute: GLBB.
Prerequisite: ACBU 2222.
ACBU 3441. Advanced Concepts in Financial Accounting. (3 Credits)
This course focuses on the preparation of consolidated financial statements stemming from mergers and acquisitions, as well as other types of inter-corporate investments. Also covered are accounting issues pertaining to foreign exchange translations and transactions, as well accounting for derivatives. Issues pertaining to governmental accounting and to partnerships are also addressed.
Attributes: ACMI, BUMI.
Prerequisite: ACBU 3435.
ACBU 3442. Individual and Business Taxation. (3 Credits)
This course covers the basic principles of taxation of individuals and businesses.
Attributes: ACMI, BUMI.
Prerequisite: ACBU 2222.
ACBU 3443. Assurance and Auditing. (3 Credits)
This course covers the basic concepts and procedures of auditing. Topics include generally accepted auditing standards, internal control, computer-based auditing, the audit report, professional ethics and legal responsibilities.
Attributes: ACMI, BUMI, PRQU.
Prerequisite: ACBU 3435.
ACBU 3444. Advanced Assurance and Auditing. (3 Credits)
(Formerly ACBU 3440.) This course introduces students to the real-life demands of the workplace of public accounting. One part of the course is devoted to requisite "soft skills" that students will need as they enter the workforce. Other parts of the course focus on hands-on auditing skills and audit strategy. This course also contains content relevant to the regulatory context of the audit function, including, for example, laws such as Sarbanes-Oxley.
Attributes: ACMI, BUMI.
Prerequisite: ACBU 3443.
ACBU 3445. Corporate and Partnership Taxation. (3 Credits)
This course provides in-depth coverage of special issues relating to the taxation of corporations ("C" and "S") and partnerships, along with a general review of tax issues related to international/states, estates and trusts, and tax-exempt entities.
Attributes: ACMI, BUMI, ENT.
Prerequisite: ACBU 3442.
ACBU 3449. ST: Process Management and Six Sigma. (3 Credits)
This course focuses on process management and how to improve organizational processes by using a body of knowledge known as Six Sigma. A process is the unity of multiple activities that transform required inputs into desired outputs. Poorly designed processes produce defective goods and services that lead to customer dissatisfaction and a higher level of internal and external failure cost. Therefore, continually improving process performance is critical to organizations' survival and success. Class lectures, discussions, and case studies in the course cover the methods and tools used for a Six Sigma project, such as project selection, process mapping and analysis, data collection, statistical data analysis, root-cause analysis, and creative thinking for both continual and breakthrough improvements.
Prerequisite: ACBU 2223.
ACBU 4435. ST: AIS Consulting Project. (3 Credits)
Students define and implement controls to accurately capture and process data and to protect information assets against internal and external risks. Working in teams and under the guidance of a faculty mentor, students develop solutions rooted in rigorous analysis to client problems. At the end of the term, students will present their project findings to the client and receive client feedback. Students acquire consulting and project management skills, and network with industry professionals in accounting and information system areas.
Attribute: PRQU.
Prerequisites: ACBU 2222 and ACBU 2223 and INSY 2299 or INSY 2300.
ACBU 4436. Accounting for Derivative Securities. (3 Credits)
This course is designed to provide a broad introduction to both valuation of derivative securities and accounting for derivative securities used for both speculative and hedging purposes.
Attribute: AAAF.
Prerequisite: ACBU 3435.
ACBU 4443. Accounting Internship Seminar. (3 Credits)
Internships are experiential learning activities designed to provide students with opportunities to make connections between the theory and practice of academic study and the practical application of that study in a professional work environment. This course provides students with the unique opportunity to engage with multi-national service corporations and through the completion of weekly exercises and a final reflection paper, earn academic credit. Students will gain relevant experience and professional connections and ultimately accelerate their career.
ACBU 4444. Sustainability and Environmental Reporting and Disclosure. (3 Credits)
Students will explore the changing landscape of corporate reporting. In particular, they will learn how organizations articulate the material, non-financial and environmental risks, and opportunities facing companies.
Attributes: ACMI, BUMI, PRQU, SOIN.
ACBU 4500. ST: Contemporary Issues in Financial Forensics. (3 Credits)
This course focuses on the methods of fraud investigation, detection, and prevention. Topics include financial fraud, bankruptcy, and computer forensics, as well as the corresponding professional responsibilities of the Certified Public Accountant (CPA).
Prerequisite: ACBU 3435.
ACBU 4646. Ethics in Financial Reporting and Accounting. (3 Credits)
This course provides students with a framework for understanding the critical need for ethics in professionalism in financial accounting. In addition to readings, case studies, and research, the course incorporates interactive learning techniques such as role playing.
Attributes: ACMI, BLEB, BUMI, GLBB, SOIN.
ACBU 4706. ST: Honors Thesis II - Acctg. (3 Credits)
Students work with a faculty advisor to develop an original paper that utilizes the analytical, business, and problem-solving skills students developed through the Gabelli School of Business curriculum.
Prerequisite: BABU 4461.
ACBU 4999. Independent Study. (1 to 3 Credits)