Undergraduate Catalog 2017-18
+ More About this Major
Bachelor of Science (B.S.)8 Semester Plan
120 Credit Hours
CIP Code: 52.0301
Muma College of Business
The objective of the baccalaureate degree program in Accountancy is to provide students with accounting and business knowledge that will serve as a basis for careers in industry, government, non-profit organizations and public accountancy. The baccalaureate program also prepares students for entry into the Master of Accountancy (M.Acc.) professional degree program.
The State of Florida requires completion of 120 semester hours to sit for the CPA examination and 150 semester hours are required for licensure.
For additional information regarding becoming a Florida CPA, please visit the following links: http://www.myfloridalicense.com/dbpr/cpa/licensure.html and http://www.ficpa.org/Content/FutureCPAs/BecomeCPA.aspx.
College Level Requirements
Limited Access - This major has additional admissions requirements as listed in this section.
Admission to the Muma College of Business is based upon availability of faculty and space within each discipline. The Muma College of Business is an upper-level, limited access college, which means that it has admission requirements in addition to those of the University in general. Students interested in pursuing a degree in the areas offered by the Muma College of Business must complete the required prerequisites for entering the College in addition to other related criteria listed below.
Students must satisfy the following criteria:
- Minimum of 60 semester hours of college credit earned.
- Minimum of a cumulative grade point average of 2.5 on all college-level work and a minimum of 2.0 on all credit attempted at USF, including any prior to renewal. NOTE: Beginning Fall 2013 the Muma College of Business will establish each fall a new minimum overall GPA required to satisfy the limited access GPA admission requirement. The minimum overall GPA will range between a 2.5 with a maximum required GPA of a 2.75. Students will be notified each fall as to the minimum entrance GPA required for the following fall semester. Notification will occur through Canvas and updated at the following link: http://www.usf.edu/business/undergraduate/requirements-general.aspx.
- In computing entry grade point average, all business and economics courses taken for S or U grades will be converted to C or F, respectively.
- A minimum score of 550 on paper and pencil or 213 on computerized TOEFL is required, when applicable.
The Lynn Pippenger School of Accountancy has additional admission requirements beyond the entry requirements to the Muma College of Business. The two additional requirements are:
- Score at least a 75 percent on the “competency exam” that covers material from ACG 2021 Principles of Financial Accounting and ACG 2071 Principles of Managerial Accounting prior to taking any ACG or TAX course at the 3000-level or higher; and
- Successful completion of ACG 3103 Intermediate Financial Accounting I and ACG 3341 Cost Accounting and Control I, with a minimum grade of C, not C- and no more than two attempts cumulatively between ACG 3103 and ACG 3341. “W” grades count as an attempt.
A student will be able to take the competency exam a maximum of two times. If a student does not make the minimum 75 percent passing grade within the second attempt, the student will not be allowed to take any 3000-level or higher ACG or TAX course unless he/she retakes ACG 2021 and then passes the competency exam at the minimum specified level of 75 percent. The prerequisites for ACG 3103 and ACG 3341 require students to earn a grade of C, not C- in both ACG 2021 and ACG 2071. ACG 3103 and ACG 3341 are co-requisites, meaning that students admitted to the Accounting major must take these two courses concurrently. Students who fail to obtain a minimum grade of C (not C-) in ACG 3103 and ACG 3341 within two cumulative attempts will be counseled into other majors either within the Muma College of Business or other colleges, as appropriate. “W” grades count as an attempt.
Within the 120-semester-hour program, students must complete a minimum of 24 hours of upper-level accounting with a grade of C not C- in all courses. Accounting major courses must be no older than five (5) years to count for degree credit. This applies both to continuing USF accounting majors, as well as accounting major courses transferred in from other institutions. A student may petition the Director for an exception to the policy and the Director may grant or deny such a petition, at his/her discretion. Students must complete 18 hours of upper-level Accounting requirements in residency at USF Tampa. Finally, students must earn a 2.0 GPA on all major coursework at USF Tampa and have an overall 2.0 major GPA including any applicable transfer work.
State Mandated Common Course Prerequisites
Transfer credits will be accepted from accredited institutions; however, all hours earned may not be applied toward USF business degree requirements. Individual courses will be evaluated by an academic advisor and appropriately credited toward requirements in the student's program at USF.
Florida public state or community college students enrolled in an Associate of Arts (AA) program should normally complete the general education requirements and the State Mandated Common Prerequisites at a Florida College System institution. As a rule, AA students should avoid taking any business courses at the state or community college that are listed as 3000- and 4000-level courses at USF. Normally, courses in finance, marketing, management, and accounting, as well as other business administration courses, taken at the lower division level that are offered as upper division courses at USF will not be accepted for upper division credit in business administration. In general, business courses taken at the lower level, at technical schools, or as part of professional or military training, are not applicable to the degree programs of the Muma College of Business. Exceptions to this policy will be made only upon proper validation of such courses. Validation consists of successfully completing specified advanced courses in the discipline.
Florida College System students pursuing an Associate of Science (AS) program in Business Administration are fully admissible to USF. Please see a business advisor to determine the articulation courses, discuss admission to the Muma College of Business and prepare a program plan for degree completion. Students transferring to the Muma College of Business with an A.S. in Business Administration may earn a major in Management only.
Florida College System students pursuing an Associate of Science (A.S.) program in any other discipline should contact the Office of Undergraduate Studies, SVC 2002, (813) 974-4051, for information regarding course transferability and degree articulation.
Completion of the following State Mandated Common Course Prerequisites (or equivalents) with a grade of C- or higher in each course and an overall 2.0 GPA:
- *ACG X021 or ACG X022 Financial Accounting or (ACG X001 & ACG X011)
- *ACG X071 Managerial Accounting or ACG X301
- CGS X100 Computers in Business (or acceptable Substitute, i.e., CGS X100C, CGS X530, CGS X570, CGS X060, CGS X531, CGS X000, ISM X000, CGS X518)
- ECO X013 Principles of Macroeconomics
- ECO X023 Principles of Microeconomics
- MAC X233 Elementary Calculus or MAC X230
- STA X023 Introductory Statistics or QMB X100 or STA X122 (although STA X023 and QMB X100 are preferred).
Total Major Hours: 24 Hours
Students must complete a minimum of 24 hours of upper-level accounting coursework with a grade of C not C- in all courses. Students must earn a 2.0 GPA on all major coursework at USF Tampa and have an overall 2.0 major GPA including any applicable transfer work. Accounting majors can use the forgiveness policy only once in upper-level accounting courses. Accounting courses taken by accounting majors on an S/U basis will not be counted toward the 120-hour graduation requirement, with the exception of ACG 4940 Accounting Internship. Independent Research, ACG 4911, will not be accepted as credit toward the minimum degree requirements in the accounting concentration.
Students must complete 18 hours of upper-level Accounting requirements in residency at USF Tampa.
Accounting major courses must be no older than five (5) years to count for degree credit. This applies both to continuing USF accounting majors, as well as accounting major courses transferred in from other institutions. A student could petition the Director for an exception to the policy and the Director may grant or deny such petition, at his/her discretion.
Major Core Courses - 18 Hours
- ACG 3103 Intermediate Financial Accounting I*
- ACG 3341 Cost Accounting and Control I*
- ACG 3113 Intermediate Financial Accounting II
- ACG 3401 Accounting Information Systems*
- ACG 4632 Auditing I
- TAX 4001 Concepts of Federal Income Taxation*
*Students must enroll in two courses their first semester within the Accounting major. During the first semester, all students must enroll in ACG 3103. The second course must be chosen from ACG 3341, ACG 3401 or TAX 4001.
Major Elective Courses - 6 Hours
Choose six (6) credit hours from the following list of courses:
- ACG 4123 Intermediate Financial Accounting III
- ACG 4351 Cost Accounting and Control II
- ACG 4642 Auditing II
- ACG 4931 Selected Topics in Accounting
- ACG 4940 Accounting Internship
- ACG 5205 Advanced Financial Accounting
- ACG 5505 Governmental/Not-for-Profit Accounting
- ACG 5675 Internal and Operational Auditing
- TAX 5015 Federal Taxation of Business Entities
All undergraduate students in any degree program can participate in undergraduate research. There are a number of options to receive academic credit for a mentored research experience and to have the experience show on the official transcript. Students who wish to enroll in an undergraduate research course should consult with their academic advisor to understand how the credit will apply towards the degree requirements. If no credit is needed, students may be eligible to enroll in the 0-credit IDS 2912 or IDS 4914 courses. These courses will not impact degree credits or GPA but will show on an official transcript and document the experience. The Office for Undergraduate Research will assist students in understanding the various course options.