Accounting is defined broadly as the process of identifying, measuring and communicating economic information. Because sound decisions based on reliable information are essential for the efficient allocation of resources, accounting plays an important role in our economic system. Each year the largest accounting firms visit Holy Cross to recruit majors for employment opportunities in public accounting. Although most majors choose to start their careers in public accounting, the curriculum is sufficiently broad to permit careers in business, government and nonprofit institutions.
The accounting major is designed to offer students the benefits of a liberal arts education while providing a core accounting curriculum for students interested in becoming certified public accountants. Educational requirements for professional certification vary by state, with many states requiring additional courses beyond the four-year bachelor’s degree. Faculty advisors will help students develop a program to meet these requirements.
The Accounting Major changed in 2017. For previous versions of this major, visit the Archives.
Department Advanced Placement Policy
For students starting with the class of 2021, those with AP credit in both Macroeconomics and Microeconomics will place out of ECON 110 Principles of Economics. Students with an AP credit in either Macroeconomics or Microeconomics should enroll in ECON 110 Principles of Economics.
Students with AP credit in Statistics will forfeit that credit if they enroll in ECON 249 Statistics and students with AP credit in Calculus will forfeit that credit if they enroll in MATH 133 Calculus 1 with Fundamentals or MATH 135 Calculus 1. Accounting majors with advanced placement credit in calculus, economics or statistics are not required to replace those credits with additional electives.
Majors must take a minimum of 14 courses for the major (as well as completing Calculus 1) as follows:
|MATH 135||Calculus 1 (or equivalent)|
|or MATH 133||Calculus 1 with Fundamentals|
|ECON 110||Principles of Economics|
|ACCT 181||Financial Accounting 1|
& ACCT 185
|Intermediate Accounting 1|
and Excel Accounting Lab 1
|ACCT 278||Intermediate Accounting 2|
|ACCT 292||Federal Income Taxation|
|ACCT 360||Ethics, Acctg & Organizations|
|ACCT 387||Business Law 1|
|ACCT 388||Business Law 2|
|ACCT 389||Cost Accounting|
|ACCT 390||Advanced Accounting|
|Two Accounting or Economics elective courses.|
ACCT 181 Financial Accounting must be taken in the fall of the first or second year and a student must earn a grade of C- or better in ACCT 181 Financial Accounting and ACCT 277 Intermediate Accounting 1 to continue in the accounting major.
|ACCT 226||Operations Research|
|ACCT 270||Governmental & Nonprofit Acctg|
|ACCT 275||Corporation Finance|
|ACCT 362||Taxation of Entities|
|ACCT 285||Accounting Information Systems|
The minimum number of courses outside the department which must be taken by an accounting major is 16. The maximum number of accounting and economics courses that accounting majors may take for credit at an institution other than Holy Cross is three.
Advising notes: Students with an interest in accounting should complete ACCT 181 (Financial Accounting) in the fall of the first or second year.
Prospective majors are required to complete ACCT 181 Financial Accounting during the fall of their first or second year. They may then request permission to take the spring offering of ACCT 277 Intermediate Accounting 1. Students enrolled in ACCT 277 Intermediate Accounting 1 will be invited to apply to the accounting major. Applicants earning a C- or better in ACCT 277 Intermediate Accounting 1 will be offered admission to the major.