The information on this page pertains to program requirements for students who matriculated in the 2022-2023 academic year. View requirements for previous catalog years here.
The School of Accounting provides an education in accounting and business law that prepares graduates to assume entry-level positions in public, private, governmental, and not-for-profit accounting. Its program establishes a foundation for future growth and development for the accounting student. Students learn how to develop, analyze, interpret and present business data and information that enable effective business decision-making. The curriculum prepares graduates to sit for professional examinations in accounting that lead to such designations as Certified Public Accountant (CPA), Certified Management Accountant (CMA), and Certified Internal Auditor (CIA). Finally, the accounting major is excellent preparation for law school and a legal career.
Graduates are prepared to assume responsibilities in a wide range of professional positions and in diverse employment situations. For example, positions are available for graduates in audit, tax and advisory in public accounting; cost control, budgeting, internal audit, financial reporting and analysis, and tax planning in both industry and the not-for-profit sector; and as auditors and financial managers in the public sector.
The School of Accounting awards both graduate and undergraduate degrees in accounting. The undergraduate degree, a Bachelor of Science in Business Administration (B.S.B.A.), requires 120 semester hours and is typically completed in four years on a full-time basis. A student may pursue either the accounting major itself or a joint major in accounting and finance.
The accounting major requires completion of 24 credit hours of accounting courses, beyond introductory accounting (ACCT 041 and 042). The graduate degree in accounting, Master of Accounting (MAcc), requires an additional 30 hours of graduate study beyond the B.S.B.A. degree and is typically completed in one year. However, with careful planning, both the bachelor’s and master’s degrees can be completed in as little as four and one-half years. A student may choose to earn the B.S.B.A. degree or both the B.S.B.A. and MAcc degrees depending upon his/her career interests.
Almost all of the 54 jurisdictions in the United States that confer the CPA certificate require 150 hours of collegiate study comprising an accounting major for certification or licensure. Drake’s MAcc degree provides the additional study in accounting, business law, and related subjects necessary to earn the CPA designation in those jurisdictions requiring 150 hours of study. Details of the MAcc are available in Drake’s Graduate Catalog.
The accounting major is integrated with courses in the liberal arts and in other business disciplines throughout both the B.S.B.A. and MAcc programs. From the first year through the fourth or fifth year of study, each student is involved in the major through a minimum of two accounting and/or business law courses per academic year. This integrated curriculum of accounting, business law, liberal arts and business provides the educational foundation needed for a successful professional career and success in completing the professional certification examinations.
To graduate with an undergraduate accounting major, a student must maintain a cumulative GPA of 2.00 for all Drake University work attempted, a cumulative GPA of 2.00 for all courses taken in the College of Business and Public Administration that carry a number of 100 and above, and a cumulative grade-point average of 2.00 or above for all 100-level accounting courses required to complete the major.
An accounting major requires the following courses:
| Course | Credit Hours |
| Business Core Courses | |
| ACCT 041 - Introduction to Financial Accounting | 3 |
| ACCT 042 - Introduction to Managerial Accounting | 3 |
| BUS 195 - Business Strategy and Policy | 3 |
| BLAW 060 - Business Law I | 3 |
| BUS 001, 002, 003, 004, 005 - The Business Profession I-V | 0 |
| BUS 070 - Globalization | 3 |
| BUS 073 - Professional Verbal Communications | 2 |
| BUS 074 - Professional Written Communications | 2 |
| ECON 002 - Principles of Microeconomics | 3 |
| IS 044 - Microsoft Office Tools for Business Analysis | 2 |
| IS 075 - Information Technology and Business | 3 |
| FIN 101 - Corporate Finance | 3 |
| MATH 028 - Business Calculus (or higher) | 3 |
| MGMT 110 - Organizational Behavior | 3 |
| MGMT 120 - Management of Operations | 3 |
| MKTG 101 - Marketing Principles | 3 |
| ACTS 131 - Introduction to Probability I, or STAT 071 - Statistics I |
3 |
| ACTS 135 - Mathematical Statistics, or STAT 072 - Statistics II |
3 |
| Accounting Major Courses | |
| ACCT 105 - Accounting Information Systems | 3 |
| ACCT 110 - Managerial Accounting | 3 |
| ACCT 120 - Advanced Managerial Accounting | 3 |
| ACCT 165 - Financial Accounting I | 3 |
| ACCT 166 - Financial Accounting II | 3 |
| ACCT 175 - Auditing Principles | 3 |
| ACCT 185 - Individual Taxation | 3 |
| ECON 010 - Principles of Macroeconomics | 3 |
| Select two of the following. At least one must be an ACCT course. | |
| ACCT 167 - Advanced Financial Accounting | 3 |
| ACCT 186 - Business Entity Taxation | 3 |
| BLAW 120 - Business Law II | 3 |
| BLAW 180 - Business Organizations | 3 |
| IS 114 - Advanced IT Applications for Business | 3 |
| IS 160 - Database Management | 3 |
| TOTAL | 78 |
The purpose of the joint major in accounting and finance is to provide the opportunity for students to complete an in-depth study of both accounting and finance within the 120 credits needed to obtain an undergraduate degree. This is not possible if the student pursues a double major in accounting and finance. The accounting joint major requires completion of 18 credit hours of accounting courses, beyond introductory accounting, along with additional credit hours in finance.
Unlike a double major, a joint major is a single major that incorporates coursework in both accounting and finance. At the completion of the joint accounting major, a student meets the education requirement to sit for the Certified Management Accountant (CMA), and Certified Internal Auditor (CIA) examinations.
The joint major enables graduates to seek accounting positions in industry, government and the not-for-profit sector. In addition, it provides students who are not interested in accounting as a career, a strong foundation in financial reporting, cost accounting, taxation, and the auditing of operations. The joint accounting major still provides the undergraduate student with the accounting courses needed to enter the Master of Accounting degree program, if a student should decide later to pursue CPA professional certification.
To graduate with an undergraduate joint major in accounting and finance, a student must maintain a cumulative GPA of 2.00 for all Drake University work attempted, a cumulative GPA of 2.00 for all courses taken in the College of Business and Public Administration that carry a number of 100 an above, and a cumulative grade-point average of 2.00 or above for all 100-level accounting courses requited to complete the major.
A joint accounting-finance major requires the following courses:
| Course | Credit Hours |
| Business Core Courses | |
| ACCT 041 - Introduction to Financial Accounting | 3 |
| ACCT 042 - Introduction to Managerial Accounting | 3 |
| BUS 195 - Business Strategy and Policy | 3 |
| BLAW 060 - Business Law I | 3 |
| BUS 001, 002, 003, 004, 005 - The Business Profession I-V | 0 |
| BUS 070 - Globalization | 3 |
| BUS 073 - Professional Verbal Communications | 2 |
| BUS 074 - Professional Written Communications | 2 |
| ECON 002 - Principles of Microeconomics | 3 |
| IS 044 - Microsoft Office Tools for Business Analysis | 2 |
| IS 075 - Information Technology and Business | 3 |
| FIN 101 - Corporate Finance | 3 |
| MATH 028 - Business Calculus (or higher) | 3 |
| MGMT 110 - Organizational Behavior | 3 |
| MGMT 120 - Management of Operations | 3 |
| MKTG 101 - Marketing Principles | 3 |
| ACTS 131 - Introduction to Probability I, or STAT 071 - Statistics I |
3 |
| ACTS 135 - Mathematical Statistics, or STAT 072 - Statistics II |
3 |
| Accounting Courses Required for Accounting - Finance Joint Major | |
| ACCT 105 - Accounting Information Systems | 3 |
| ACCT 110 - Managerial Accounting | 3 |
| ACCT 165 - Financial Accounting I | 3 |
| ACCT 166 - Financial Accounting II | 3 |
| ACCT 175 - Auditing Principles | 3 |
| ACCT 185 - Individual Taxation | 3 |
| Finance Courses Required for Accounting - Finance Joint Major | |
| ECON 010 - Principles of Macroeconomics | 3 |
| FIN 102 - Advanced Corporate Finance | 3 |
| FIN 119 - Financial Institutions, Instruments and Markets | 3 |
| FIN 121 – Introduction to Derivatives | 3 |
| FIN 170 - International Finance | 3 |
| FIN 193 - Portfolio Analysis | 3 |
| FIN 197 -Seminar in Finance | 3 |
| TOTAL | 87 |
The minor in accounting introduces students to the foundational financial and managerial accounting concepts to enable them to interpret financial data and make better decisions. The minor will give students the information needed to understand the financial position and results of operations of their employer, how their role in the company impacts the financial results, and enable them to make better personal financial decisions.
| Course | Credits |
|---|---|
| ACCT 041 - Introduction to Financial Accounting | 3 |
| ACCT 042 – Introduction to Managerial Accounting | 3 |
| IS 044 - Microsoft Office Tools for Business Analysis | 2 |
| ACCT 105 - Accounting Information Systems | 3 |
| ACCT 110 - Managerial Accounting | 3 |
| ACCT 165 - Financial Accounting I | 3 |
| ACCT 166 - Financial Accounting II | 3 |
| ACCT 185 – Individual Taxation | 3 |
| TOTAL | 23 |
A GPA of 2.00 or above must be achieved in the courses in the minor to complete the minor.
The information in this catalog does not constitute a contract between the university and the student. The university reserves the right to make changes in curricula, admission policies and processes, tuition and financial aid, academic standards and guidelines, student services and any other regulations or policies set forth in this catalog without giving prior notice.