Business Administration, Accounting Major, B.S.

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The accounting major (15 credits) has a strong regional reputation for providing students with the quality accounting and business skills necessary for success in the accounting profession. Many of our students are employed in tax and accounting internships, obtaining valuable practical experience while completing their degree.

The accounting major offers students the coursework necessary to meet the rapidly changing business environment, in which accountants play a significant and critical role. Students learn accounting concepts and practical applications necessary to work in the profession. The program fosters the development of critical thinking and professional skills crucial for career success.

The undergraduate accounting major along with Advanced Accounting concentration provides students with the depth and breadth of education needed to help pass the CPA exam and help meet the 150 credit hour education required by Maine and most states for licensure as a CPA.

Program Requirements

In addition to meeting all University requirements, students must earn a minimum grade of C- in all Pre-Business Core Classes and a C in 300-400 level courses in all Business Core, Thematic Core, major, and business electives (or Business minor) courses toward the degree. To ensure that students graduate with a current understanding of their field, upper-level courses taken more than 10 years before the degree is awarded must have Departmental approval for use in the Business Core, Thematic Core, 9 credits of upper level Business electives (or Business minor) or the major.

Students may declare or change a major by completing a form available at the Registrar’s office or on their website. Double majors are possible as long as no more than one course (3 credit hours) applied toward one major is applied toward the second major. Under no circumstances can more than one course (3 credit hours) be double-counted for two majors within the School of Business.

School of Business majors may count up to two specified (see minor requirements) business core courses (6 credits) in both the Business Core and a Business minor. In the advanced accounting minor, accounting majors may count up to two specified upper division accounting classes in both the Accounting major and the Advanced Accounting minor. The remaining minor courses (9 credits) cannot double count in the minor and the business major courses or between two business minors. School of Business majors are allowed to declare more than one business minor.

At least 50 percent of classes in the Business Core and Thematic Core (4 out of 7) have to be taken at USM. In addition, at least 50 percent of classes in the major (3 out of 5) must be taken at USM.

Students can take no more than 12 credits of upper level business classes until they have successfully completed the pre-business core with a grade of C- in each course.

Overview of course requirements:

Core Curriculum
Pre-Business Core
Business Core
Thematic Core
One Global Business course
Major requirements
Additional 9 credits at 300-level or above beyond the major taken either as electives (ACC, BAN, BUS, FIN, RMI) or 2nd Business major or as 15-credit School of Business minor
General University Electives as needed

USM Core Curriculum Requirements

Please see USM Core Curriculum section of this catalog for details. School of Business specific Core courses are noted below.

Writing, Reading, and Inquiry (WRI) 1
Writing, Reading, and Inquiry (WRI) 2
Writing, Reading, and Inquiry (WRI) 3
Quantitative Reasoning: MAT 210 - Business Statistics (credits counted in the pre-business core).
Creative Expression
Socio-cultural Analysis: ECO 101 - Introduction to Macroeconomics (credits counted in the Pre-business Core)
Cultural Interpretation
Science Exploration
Ethical Inquiry, Social Responsibility, and Citizenship; May be fulfilled and double counted with BUS 347 - Triple-Bottom-Line Business
Culture, Power, and Equity
International: May be fulfilled and double counted by the Global Business course by successful completion of BUS 335 - International Business or BUS 361 - International Marketing .
Engaged Learning & Capstone: BUS 450 - Business Policy and Strategy (credits counted in the Thematic Core)

Pre-Business Core

MAT 108 - College Algebra Credits: 4 with C- or higher grade (Substitutes include a C- or higher grade in MAT 140 or approved higher level math course or passing a CLEP exam)
MAT 210 - Business Statistics Credits: 4 (or MAT 120 ) with a C- or higher grade, or in another approved statistics course (http://usm.maine.edu/sb/stats)
ECO 101 - Introduction to Macroeconomics Credits: 3 with C- or higher grade
ECO 102 - Introduction to Microeconomics Credits: 3 with C- or higher grade
ACC 110 - Financial Accounting Information for Decision Making Credits: 3 (C- or higher)
ACC 211 - Managerial Accounting Information for Decision Making Credits: 3 (C- or higher)
BUS 260 - Marketing Credits: 3 (C- or higher)
BUS 280 - Legal Environment of Business Credits: 3 (C- or higher)
BUS 241 - Applied Business Modeling Credits: 3 (C- or higher) or Microsoft Excel Certification

Business Core*

BUS 301 - Business Analytics Credits: 3 (C or higher)
BUS 340 - Managing Organizational Behavior Credits: 3 (C or higher)
BUS 375 - Production/Operations Management Credits: 3 (C or higher)
FIN 320 - Basic Financial Management Credits: 3 (C or higher)

Thematic Core*

BUS 300 - Entrepreneurial Thinking Credits: 3 (C or higher)
BUS 345 - Technology Management Credits: 3 (C or higher)
BUS 450 - Business Policy and Strategy Credits: 3 (C or higher)

Global Business Course

Select one of the following courses:

BUS 335 - International Business Credits: 3 (C or higher)
BUS 361 - International Marketing Credits: 3 (C or higher)
BUS 382 - International Business Law Credits: 3 (C or higher)
BUS 388 - Launching a Global Social Enterprise Credits: 3 (C or higher)
FIN 330 - International Financial Management Credits: 3 (C or higher)

Major Requirements (15 credits)

At least 50 percent of credit hours applied to the major must be taken at USM. Double majors are possible as long as no more than one course (3 credits) applied toward one major is applied toward the second major. Students must earn a grade of C or higher in each major course.

Required Courses (15 credits)

ACC 301 - Financial Reporting I Credits: 3
ACC 302 - Financial Reporting II Credits: 3
ACC 329 - Accounting Information Systems Credits: 3
ACC 410 - Auditing and Assurance Credits: 3
ACC 413 - Concepts and Strategies of Taxation Credits: 3

Additional 9 credits at 300-level or above beyond the major

Satisfied in one of the following three ways:

9 credits in any 300- or 400-level ACC, BAN, BUS, FIN, RMI courses;
2nd Business major;
15-credit minors in approved School of Business topics. Up to two specified courses (6 credits) may count for credit in both the Business Core and the Minor. Up to two specified upper division Accounting classes may count for credit in both the Accounting major and the advanced accounting minor. Minors are available in the following areas: Advanced Accounting, Entrepreneurship, International Business, Operations and Supply Chain Management, Professional Selling, Risk Management and Insurance, and Sustainable Business.

General University Electives (remaining credits for 120 credit minimum)

The exact number of general elective credits varies and is dependent upon choices made in University core requirements.

USM Core Requirements

The USM Core Curriculum is a coherent, integrative, and rigorous liberal education that enables our graduates to be world-minded, intentional, life-long learners and captures your general education degree requirements.

Please Note: Core requirements may be part of your major and/or minor, and Core may have been fulfilled with transfer credit. Please consult your MaineStreet Degree Progress Report (DPR) and review your degree progress with your Advisor. For additional information, access the USM Core webpage.