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Accounting Concentration

  • Credits:
    18

Concentration Description

This undergraduate concentration provides a solid introduction to accounting to complement your major in another area. The accounting concentration is a popular option for students who are pursuing a bachelor’s degree in management studies, but will also provide valuable skills and knowledge for a wide range of majors. The concentration in accounting course work is accepted in any Cambridge College bachelor’s degree as open electives.

Why Study Accounting?

Regardless of your field of study, a background in accounting and accounting management can be of tremendous value to your career and your everyday life. You’ll learn about preparing budgets, analyzing business costs, financial reporting, and financial statement analysis – skills that you can apply to any industry. You’ll also gain fundamental mathematics, problem-solving, and personal financial management skills that can be of great benefit in your day-to-day life. If you choose to pursue a career in accounting, you’ll be part of a field that offers excellent job security and strong potential for professional growth.

According to the U.S. Bureau of Labor Statistics (BLS), the median national annual salary for accountants and auditors is $68,150. Employment of accountants is expected to grow 10 percent through 2026, faster than average for all occupations.

Accounting Concentration Learning Outcomes

Complement your undergraduate degree with a concentration in management accounting at Cambridge College. Graduates of the program will gain a fundamental understanding of:

  • American businesses and the context in which they operate.
  • Introductory accounting concepts and processes, budgets, and cost management.
  • Tools and methods to evaluate an organization’s financial statements.

Accounting Careers

Accountants have the opportunity to work in almost any industry imaginable. Accounting is also a rapidly growing field, making now an excellent time to start preparing for your career. The skills you’ll gain in the accounting concentration at Cambridge College will provide a strong foundation for careers in:

  • Management accounting
  • Public accounting
  • Financial accounting
  • Auditing 

Accounting Salaries

While salaries will vary depending on education, certification level, and specialization, accountants are generally well paid. Here is a look at some of the average salaries for accountants by industry, according to the Bureau of Labor Statistics:

  • Finance and insurance: $72,950
  • Management of companies and enterprises: $70,790
  • Manufacturing: $69,040
  • Accounting, tax preparation, bookkeeping, and payroll services: $68,130
  • Government agencies: $65,820

Related Programs at Cambridge College

Still exploring graduate degree options? You might be interested in learning more about these programs at Cambridge College:

 

Curriculum


Introduction to Business
BSM 200 3 credit(s)
Students learn how American business operates. The course begins with a study of business in its broader perspective, looking at the context within which American business fits, and the investment markets which provide the capital needed to grow. The external factors influencing business development and the role business plays in the world economy are examined. The course then focuses on the internal organization and the operations of American business, highlighting major issues associated with managing functional areas of a business, such as marketing, production, technology, and supply chain management. In the later part of the course, financial management, both personal and business, and financial institutions are studied.
Financial Accounting
BSM 330 3 credit(s)
This course introduces the principles that govern financial accounting systems and the income statement and balance sheet that are the principal end products. Students learn how accounting information is used to evaluate the performance and financial status of private, non-profit and public organizations. The course emphasizes the use of accounting information by managers within the organization and by shareholders, lenders, and other outside parties. Basic accounting terms and concepts, and the language of financial management are presented as well as the essentials of the accounting process. The course also builds an awareness of the ethical, information and regulatory environment of accounting.
Financial Management
BSM 332 3 credit(s)
Prerequisite: BSM330. This course provides tools for managing business funds and making decisions that will affect the financial position of an organization. Students gain an understanding of financial analysis and its use in planning and control functions. Capital budgeting, discounted cash flow, and present/future value techniques are presented as well as the capital formation process, the advantages and disadvantages of various capital structures, and the long and short term uses of capital. Students gain an understanding of the workings of financial markets and institutions, financial instruments, and the domestic and international financial environment.
Financial Statement Analysis
BSM 494 3 credit(s)
Financial Statement Analysis will teach students the tools and methods to evaluate a company's current financial positioning and to predict potential earnings and/or losses. Students will use the skills learned to determine how an organization's financial statements are impacted by the organization's operations and strategies. These skills will allow the student to critically think about an organization's performance by analyzing the financial statements. Topics will include but are not limited to cash flow statement analysis, earnings quality analysis and ration and profitability analysis.
Budget Preparation and Reporting
BSM 409 3 credit(s)
This course introduces students to the techniques and tools used in the development and reporting of budgets. A budget is an institution or department's structured plan which projects or anticipates the desired outcome of financial activity for a specific set of resources for a fixed period. Specific areas of study within this course include: estimated revenues and expenditures; asset receipts; liability receipts; expenditure receipts; internal revenues; internal revenue transfers; capital fund internal revenues, and interest on outstanding accounts/notes receivable. We discuss and analyze various types of expenditures, and how funds are distributed to best serve an institution's strategic plan.
Cost Management and Internal Controls
BSM 481 3 credit(s)
This course explores cost concepts, flows and terminology. Students investigate alternative cost objectives; cost measurement concepts, and cost accumulation systems including job order costing, process costing, and activity-based costing. Additionally we discuss overhead cost allocation; operational efficiency and business process performance topics such as JIT, MRP, theory of constraints, value chain analysis, benchmarking, ABM, and continuous improvement. Students will review risk assessment; internal control environment, responsibility and authority for internal auditing; types of audits; and assessing the adequacy of the accounting information system controls.