Undergraduate Program

Accounting

Accounting, in a limited sense, is the analysis, classification and recording of financial events and the reporting of the results of such events for the organization. In a broader sense, accounting consists of all financial systems for planning, controlling and appraising performance of an organization. Among its many facets, accounting includes: financial planning, budgeting, accounting systems, financial management controls, financial analysis of performance, financial reporting, internal and external auditing, and taxation.

The accounting curriculum provides an educational foundation for careers in public accounting, management - whether in private business organizations, government or nonprofit agencies - or consulting.

120 credits are required to complete a degree in Accounting; however, students seeking to become a Certified Public Accountant (CPA) must meet the certification requirements for the state in which they wish to practice. Most states, including Maryland, require a minimum of 150 credit hours of college education to fulfill the education requirements to obtain a CPA license. However, many of these states, including Maryland, will allow applicants to take the CPA exam prior to earning 150 credits if they have accumulated 120 credits, earned a degree, and meet specified education requirements. In addition, do not assume the course and credit requirements for the accounting major are sufficient for all states. For details on various states' CPA requirements visit www.nasba.org. See below for suggestions for completing 150 credits.

Please note: The Public Accounting (CPA) Track is the only major track available in Accounting at this time.

Download complete degree requirements and/or a 4 year plan.

New Requirements

- (New General Education) Effective for students entering UM in Spring 2014 and later. Students who entered UM prior to Spring 2014 have the option of adopting these new requirements. Please consult your Smith School Academic Advisor if you have questions.

Old Requirements

- (New General Education) Effective for students entering UM in Fall 2012 through Fall 2013. Students who entered UM prior to Fall 2012 have the option of adopting these requirements. External transfer students will be required to complete the new Smith School core requirements (launched in 2011) beginning Fall 2013. Please consult your Smith School Academic Advisor if you have questions.

- (CORE General Education) Effective for students entering UM in Fall 2011 through Spring 2012. External transfer students will be required to complete the new Smith School core requirements (launched in 2011) beginning Fall 2013.

- (CORE General Education) Effective for students entering UM in Fall 2007 through Spring 2011.

- (CORE General Education) Effective for students entering UM in Fall 2005 through Spring 2007.

- (CORE General Education) Effective for students entering UM from Spring 2003 through Spring 2005

Links to Related Sites

Economics Requirement:

One of the following courses:

ECON 305, 306, 330 (formerly 430), 340 (formerly 440)

3 credits

Total 3 credits

Major Requirements:

BMGT 310 - Intermediate Accounting I

3 credits

BMGT 311 - Intermediate Accounting II

3 credits

BMGT 321 - Managerial Accounting

3 credits

BMGT 326 - Accounting Systems

3 credits

 Total 12 credits
In addition to the 12 credits of Accounting major requirements listed above, Accounting majors must complete 12 credits in one of the tracks listed below.

Public Accounting Track (Certified Public Accounting Track)

BMGT 323* Taxation of Individuals (3 credits)

BMGT 411* Ethics and Professionalism in Accounting (3 credits)

BMGT 422* Auditing Theory and Practice (3 credits)

Plus one of the following courses (3 credits):

BMGT 410 Government Accounting
BMGT 417 Taxation of Corporations, Partnerships & Estates
BMGT 423 Fraud Examination
BMGT 424 Advanced Accounting
BMGT 427 Advanced Auditing Theory and Practice
BMGT 428 Special Topics in Accounting
* Note: Course required for CPA exam in the State of Maryland.
Management Accounting/Consulting Track (NOTE: This track is currently not available)

BMGT 426 - Advanced Managerial Accounting (3 credits)

Plus three of the following courses (9 credits):

BMGT 305 Survey of Business Information Systems and Technology
BMGT 323 Taxation of Individuals
BMGT 332 Operations Research For Management Decisions
BMGT 385 Production Management
BMGT 402 Database Systems
BMGT 403 Systems Analysis and Design
BMGT 410 Government Accounting
BMGT 411 Ethics and Professionalism in Accounting
BMGT 417 Taxation of Corporations, Partnerships & Estates
BMGT 423 Fraud Examination
BMGT 424 Advanced Accounting
BMGT 428 Special Topics in Accounting
BMGT 430 Linear Statistical Models in Business
BMGT 434 Introduction to Optimization Theory
BMGT 440 Financial Management
BMGT 446 International Finance
Total 24 credits

NOTE: To fulfill the requirements for the CPA exam, contact the Board of Accountants in the state where you intend to take the exam. Do not assume requirements for the accounting major are sufficient in all states. For details on various states' CPA requirements visit www.nasba.org.

NOTE: All applicants who wish to take the CPA exam in the state of Maryland must complete 150 credit hours. To view the state of Maryland's CPA requirements visit www.dllr.state.md.us/license/cpa.

Suggested 150 Credit Hour Options

Most states, including Maryland, require a minimum of 150 credit hours of college education to fulfill the education requirements to obtain a CPA license. Students can typically complete their Accounting degree and the specific course requirements for the CPA in the minimum 120 credits required to earn the degree. However, if 150 credits are required to fulfill the education requirements to obtain a CPA license, students must complete 30 credits beyond the specific course requirements to be licensed. These additional credits can be completed in several ways, as illustrated below. Please be sure to consult the Board of Accountants in the state where you intend to take the exam for their specific requirements because requirements can vary between states. For details on various states' CPA requirements visit www.nasba.org.

Graduate Programs

The Smith School offers a Master of Science in Business: Accounting Program with a focus on Internal Auditing. For more details on this program visit www.rhsmith.umd.edu/ms.

In addition, many institutions offer graduate programs for undergraduate accounting students. Consult institutions in your area about the availability of these types of graduate degrees.

Double Majors/Degrees

Accounting majors can select a second major in or outside of the Smith School. Any credits required to complete the second major, above the 120 minimum required for a degree, can be applied toward the 150 total credits to obtain a CPA license. Students who accumulate 150 credits while completing both majors are eligible to earn two degrees upon their graduation.

To declare a second Smith School major, Smith School students must have the following courses completed: MATH 220 or 140, BMGT 230 or 231, ECON 200 & 201, BMGT 220 & 221. Students should declare a second major as early as possible in their academic career, but in no case later than one full academic year before their expected date of graduation in their primary major.

To view a listing of the Smith School's majors and their requirements, click here. To obtain information on majors outside of the Smith School visit  www.uga.umd.edu/admissions/academics/majors.asp or the online undergraduate catalog at www.umd.edu/catalog.

Minors

The Smith School of Business currently offers one minor in Business Analytics. Additionally, many minors are offered in other departments across the campus. To see a complete list and to learn more about these opportunities visit www.umd.edu/catalog/index.cfm/show/content.chapter/c/127.

Smith Undergraduate Fellows Program

The Smith Undergraduate Fellows Program is an innovative concept in undergraduate business education, offering a series of special academic programs—or tracks—which will create small communities of scholars within the larger Smith School community. Each specialized Fellows program combines opportunities for action learning and professional development with rigorous in-depth academic coursework focused on cutting-edge issues affecting 21st century business. For more details on this program click here.

Study Abroad Programs (summer, winter and/or semester programs)

Studying abroad is a great way to expand your understanding of other business and cultural environments, and to demonstrate an ability to work effectively in foreign environments. In addition to the campus Study Abroad Office, the Office of Global Programs offers exchange programs for Smith School students. Visit the links below for more details on all your program options and for contact information.