Accounting | Albright College

Accounting

According to survey after survey of America’s corporate sector, executives and hiring managers are looking for college graduates who adapt well to change, communicate effectively, think critically and analytically, and interact constructively with others.

In other words, they’re looking for just the kind of graduates produced by Albright’s Department of Business, Accounting & Economics.

The College’s firm grounding in the liberal arts, its emphasis on an interdisciplinary curriculum, and its numerous opportunities for experiential learning will instill in you the skills sought by business leaders. Nearly half of the Department’s students graduate with a combined major – terrific preparations for a professional world in which academic disciplines often intersect.

Business, Accounting & Economics Mission Statement

In support of the College mission, the Business, Accounting & Economics Department prepares students for both employment and graduate study through the integration of theory and practice. Using an interdisciplinary approach, the Department’s goal is to blend the students’ liberal arts education with their professional business studies to provide a holistic education that prepares students to compete effectively and meet the challenges in the global economy.  The Department is strongly committed to preparing its students to assume dynamic leadership roles in their professions and communities. To achieve this goal, we engage students in a small group, inquiry-based, experiential learning environment. Our curriculum is designed to provide a stimulating atmosphere; students are encouraged to go beyond classroom lectures and passive acquisition of information. We encourage our students to be active learners; we continue to engage them in projects that emphasize critical reasoning, analytical thinking, independent research and communication of their findings. We strive to cultivate and develop students who value and practice ethical behavior, social responsibility, intellectual curiosity, and a commitment to continuing personal growth.

Business, Accounting & Economics Vision Statement

Fully supporting Albright College’s vision and mission, the Department of Business, Accounting, & Economics contributes to the development of local communities as well as the business world in general through our academic excellence that nurtures life-long education. Integrating innovative curricula in a supportive learning environment, we prepare our students to be not only successful problem solvers, effective communicators, cooperative team members, but also ethical leaders who will make a difference in the world and people’s lives.

Requirements:
  • ACC 101
  • ACC 201, 202
  • ACC 325, 330, 331, 338
  • ACC 408
  • One 400-level accounting seminar
  • ECO 207
  • BUS 345
  • One business/economics course (200-level or above)
  • ACC 110 (formerly SPI 260)
  • Students must select ECO 105 as a General Studies Foundations-Social Science course and MAT 125 as a General Studies Foundations-Quantitative Reasoning course.
Combined major in Accounting Requirements:
  • ACC 101
  • ACC 201, 202
  • ACC 325, 330, 338
  • ACC 408
  • One 400-level accounting seminar
Economics Requirements:
  • ACC 101
  • ECO 105 (satisfies general studies social science requirement)
  • ECO 207
  • ECO 302, 307, 335, 336
  • ECO 492
  • MAT 125 or 131 (satisfies general studies quantitative reasoning requirement)
  • An economic fields requirement of five additional economics courses above the 100-level
Combined major in Economics Requirements:
  • ECO 105 (satisfies general studies social science requirement)
  • ECO 207
  • ECO 302, 307, 335, 336
  • ECO 492
  • MAT 125 or 131 (satisfies general studies quantitative reasoning requirement)
  • One additional economics course above the 100-level
  • Note: Students considering combining economics and business administration should consult the department chair for the required courses.

ACC 101 Financial Accounting An introduction to basic accounting theory and principles for recording, summarizing and reporting financial data. The course emphasizes the analysis of business transactions and the understanding and preparation of financial statements. Satisfies the General Studies Foundations Quantitative Reasoning requirement. ACC 110 Computer Applications in a Business Environment An introduction to the use of computers as an accounting and business management tool. Students will use various packages to prepare forecasts, budgets, financial statement analyses, and management reports. ACC 201 Intermediate Accounting An introduction to the conceptual framework of accounting. Corporate financial statements and related accounting and reporting issues are studied in depth. The time value of money, investments and operating assets are among topics discussed. Prerequisite: ACC 101 ACC 202 Intermediate Accounting The study and analysis of accounting and reporting problems associated with earnings per share, pensions, leases, deferred taxes and cash flow statements. Prerequisite: ACC 201 or permission of instructor ACC 283 Special Topics A seminar designed to study and explore the critical challenges facing accounting professionals in the 21st century. Current areas of interest include: global dimensions in accounting, public oversight, standard setting in a changing environment, self-regulation and industry specialization. Prerequisite: ACC 101 or permission of instructor ACC 325 Cost Accounting Cost accounting provides key data to managers for planning and controlling, as well as for costing products and services. This course examines the accountant’s role in the organization as both decision maker and data provider. Some of the topics covered include relevant costs and the decision process, inventory management and variance analysis. Prerequisite: ACC 101 ACC 330 Tax Accounting An introduction to the federal income tax code as it relates to individuals and business entities. The course covers income, deductions and losses comprising taxable income, property transactions and the determination of tax liability. Application of the tax law is practiced with basic tax research, tax planning and tax return preparation. Prerequisite: ACC 101 ACC 331 Advanced Tax Accounting Advanced study of tax law with emphasis on the formation and operation of business entities. An introduction to tax issues relating to gifts, estates, trusts and state taxes. Tax research and case analysis for corporations, property transactions and other selected topics. Prerequisite: ACC 330 ACC 338 Advanced Accounting The study and analysis of accounting and reporting principles for a variety of business entities and for not-for-profit organizations. Topics include business combinations, partnerships, multinational operations, SEC reporting and fund accounting. Prerequisite: ACC 202 ACC 360 Corporate Governance and Reporting The rise in fraudulent financial reporting and the failure of the independent audit function initiated Congressional action and new regulations for publicly traded corporations. Securities and Exchange Commission (SEC) mandates significantly impacted the responsibility of corporate management and brought historic changes in corporate governance, internal controls and financial reporting. This course explores highlights of the new regulations and how corporations respond to expectations and disclosures implemented to improve corporate governance and financial reporting. Participants study and analyze traditional and changing issues of reporting, with a focus on corporate visions, missions and strategies as reflected in a company’s financial information and reports. Prerequisites: ACC 201 and 202 ACC 382 Internship Internships provide the opportunity for students to integrate their academic studies with relevant professional work experience. Internships are considered independent study and are subject to departmental approval and supervision. In addition to job performance and evaluation, students must prepare written reports and oral presentations. Prerequisite: ACC 202 ACC 408 Auditing A comprehensive introduction to the audit environment through the study of generally accepted auditing standards, the Code of Professional Ethics and legal liability. An in-depth coverage of the independent audit function, including risk analysis, planning, the study and evaluation of internal control, audit procedures and audit reports. Prerequisite: Senior status or permission of instructor ACC 428 Fraud Examination This course explores the theories, practices and schemes inherent in fraudulent financial statements, corruption and asset misappropriation. The course emphasizes the issues and problems of business enterprises and the critical role of management and auditors in preventing and detecting fraudulent activities. Students read, review, discuss and analyze cases, which encompass financial reporting, criminology and ethics, forensic reporting and audit engagements. They will prepare independent research reports on selected areas of interest in accounting, business or criminology. Prerequisite: Senior status or junior status with permission of instructor. ACC 470 Strategic Cost Management Management personnel, in all organizations, utilize cost accounting principles and methods for strategic decision making. Costs control, resource allocation, cash flows management, budgeting, risk analysis and uncertainties are all part of a mission and strategy for development, growth and operations. This course integrates quantitative methods and management visions and strategies to measure and evaluate performance in actual case settings. Using individually selected organizations, students identify visions, missions and plans for strategic position. Assessments and conclusions are prepared using financial reports and analysis. Prerequisite: ACC 325 ACC 480 International Accounting Seminar (W) A study of the rapidly emerging field of international accounting and the accounting issues affecting multinational corporations, with a closer look at the complexities of dealing with information across national boundaries. Prerequisites: ACC 201, 202 and senior standing ACC 492 Senior Accounting Seminar (W) Study of current issues and developments in accounting theory, corporate reporting, professional standards, and international topics with selected readings, case analysis and discussion. Intensive individual research on selected topics with a senior thesis and paper presentation. Prerequisite: Senior standing
accounting

Soma Ghosh, Ph.D.
Associate Professor of Economics
610-929-6724
sghosh@albright.edu

accounting

Joseph P. Cunningham, CPA, MBA
Assistant Professor of Accounting
610-921-7705
jcunningham@albright.edu

While at Albright, you have news and real-time financial and economic data at your fingertips through our Bloomberg Professional Services Terminal.  Integrated into our Trading Lab classroom, you will have the opportunity to learn how to access the data you need on nearly 24,000 companies, stocks, bonds, and other equities.

Bloomberg Professional Services also delivers more than 6,000 news stories per day and includes access to live and recorded press conferences.  You can track company plans and performance, access economic data from countries around the world and connect industry trends and government news with stock prices and performance indicators.

Our alumni and students completing internships report to us that learning the Bloomberg Terminal is a significant advantage in the job market today.  You can use the Bloomberg Terminal to complete certification programs in multiple specialty areas.  Training is also available on campus and this important research tool will be incorporated into some of your courses.

What Can I Do in a Major With
Accounting

Study Abroad

Studying in another country offers you an unparalleled learning experience, which is why we encourage our students to plan a study-abroad experience while they’re here.

“Studying Abroad has changed my life. I have become a more independent and outgoing person. I can’t imagine my life without these past 4 months in Germany and I will do anything I can to go back. It is hard to wrap up my experience in any type of sentence, paragraph, paper, anything, because it is something that everyone should experience. I recommend Studying Abroad to everyone and anyone, you won’t regret it.”

Victoria Sweeney ’15, business management major


Academic exchanges
For a full semester abroad, consider studying business in Ireland or Germany.  In each case, you pay regular tuition at Albright but study abroad. Your advisor will help you select courses in the host country that will be most beneficial for you.

  • Reutlingen Exchange and Danzer Scholarship – Students in business and economics may apply to study business courses in Reutlingen, Germany (Reading’s sister city) for the fall semester. Since classes are in English, it is not necessary to speak German. This program includes also company tours – past visits have included BMW and Daimler Engine automobile plants – and cultural events. There is an additional scholarship to offset the cost of travel and living expenses. Click here for more information.
  • Irish American Exchange – Albright College participates in the Irish American Exchange, through which students at Albright can study at one of FIVE universities in Northern Ireland tuition-free. Through this program, we also host business students from Northern Ireland in our classes. Click here for more information.

Other semester- and year-long programs
Students also partner with many fine programs offered by both U.S. and non-U.S. institutions. The arrangements differ from program to program, but your faculty adviser and the study abroad office will help you coordinate plans and coursework to be taken at other universities.

In addition to the programs above, our business and economics students have studied in:

  • Seville, Spain
  • Dublin, Ireland
  • London, England
  • Marburg, Germany
  • Cannes, France
  • Sydney, Australia

Faculty-led study abroad programs
Sometimes a full semester abroad is not feasible. Work, athletics, on-campus activities or even finances may make this impossible. Through faculty-led, short-term study abroad programs, you can fulfill course requirements and experience international environments accompanied by you Albright professors.

The Department of Business, Accounting and Economics offers interdisciplinary study abroad programs open to any Albright College student and focused on diverse business and cultural environments. Because of the rapidly expanding influence of Asian economies, recent courses have explored the culture and economic and business environments of Japan and India.

  • Click here to see more about Albright students in India.
  • Click here to see more about Albright students in Japan.
  • Click here for a study abroad slideshow.

How to get started
Courses in international management, international marketing and international economics are the courses most commonly taken abroad. Elective courses on specific business environments are also encouraged, even though these are not explicit program requirements in business.

To coordinate your study abroad, first visit the coordinator of study abroad programs in the Experiential Learning and Career Development Center. Once you have identified a program of interest and what courses you would like to take, arrange an appointment with the department head. Bring your pamphlets, and the chair will help you schedule courses that will be most beneficial based on your interests and program requirements.

In addition, Albright College offers scholarships to help defray the cost of study abroad. The study abroad coordinator can assist you in identifying and applying for these funds.


Student Research

As a student in the Department of Business, Accounting & Economics, you’ll have the chance to gain invaluable experience by rolling up your sleeves and working side by side with instructors. Through the Albright Creative and Research Experience (ACRE) program, you engage in College-funded research projects alongside faculty members. Projects can be completed either during the summer (10 weeks) or the Interim (three weeks in January) terms.

Noteworthy Projects

photoAustin Marich, “Investigating the Public-Private Wage Differential in Post-Great Recession United States,” with Lisa Wilder

Austin, an Economics and International Relations major, researched the differences in wages between those working for the federal government and those in private industry after the great recession. His three-week ACRE study of 56,000 workers in the United States found the reasons differential was largest for federal compared to state and local employees and much of that could be attributed to the older and longer job tenure of federal workers. Austin has graduated and is in the process of applying to graduate school.

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Adam Dayke, “A Continuation of The Effect of the SEC’s Approval of Releasing Key Information Through Social Media Outlets and Its Correlation to Revenue in the Financial Management Industry,” with Bonnie Rohde

Adam, an Accounting, Economics and Finance major, explored the use of social media by financial industry firms. Through the administration of a survey, he gathered information that could help financial firms meet consumer needs for information through social media.
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Eric Mack, “An Analysis of Altruism and Income Elasticity,” with Lisa Wilder

Eric, an Economics and Political Science, investigated philanthropy, looking at giving of money and time across countries. He found that income had little to do with giving; instead, he found altruism was highest in countries with the strongest group ties. Eric presented his research at the Society for Cross-Cultural Research’s conference in Las Vegas.
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Chak Hei (Bill) Chan, “The Evolution of a Brand’s Advertising Slogan,” with Jay Rajan

Bill, an Economics major, analyzed the factors that contribute to the success of brand advertising slogans— short phrases used to sell a product and increase how memorable it is. Using the case study method, he examined the evolution of several global brands that have continually incorporated the companies’ visions, values, historical evolution and cultural differences into their slogans. Read more about Bill’s ACRE.
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Nick Loris, “Comparison of Wage Differentials in the Former East and West Germany,” with Lisa Wilder

Nick, an Economics and Political Science major, presented his work at an Eastern Economics Association meeting and published it in Issues in Political Economy. He is now a media-quoted economist and policy analyst at the Heritage Foundation in Washington, D.C., where researches, writes and speaks about energy, and environmental and regulatory issues.
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Jean Philippe Bli, “Economic Development in Sub-Saharan African Countries: A Case Study of Ivory Coast, Burkina Faso, and Mali,” with Farhad Saboori

Jean Philippe, an Economics major, had a strong desire to learn more about economic development, especially in his homeland of Africa.  In his ACRE he explored different models of economic development.

Adam Galczynski and John Harding, “Correlation of Social Media Followers and Revenue in the Chain Restaurant Franchise Industry,” with Bonnie Rohde. Presented at the Mustang International Academic Conference, Las Vegas.

Zachary Binkley, “Budget Deficits, National Debt, and Interest Rates: An Empirical Analysis,” with Farhad Saboori. Presented at Undergraduate Research at the Capitol-Pennsylvania.

Sek Wai Michel Wong, “The Influence of Income Inequality on Self-Reported Happiness in a Cross-section of Nations,” with Lisa Wilder. Presented at the Eastern Economics Association Annual Meeting.

Fred Eiswert, “The Impact of Unionization in Transition Countries: Lessons from Estonia.” Presented at the Society for the Advancement of Management’s conference and published in the conference proceedings.

Meghan Hennessey , “The Gender Wage Differential in Four Transition Countries.” Presented at the International Atlantic Economic Society meetings.


Our Graduates

The Department of Business, Accounting & Economics has an excellent track record in placing its graduates in a wide variety of professional positions, as well as graduate and professional programs. The flexible, adaptable nature of an Albright education prepares you for careers in the private and nonprofit sectors, academia, government, and more.

Business and Economics

Albright’s business and economics graduates find a plethora of career options open to them. Recent employers that have hired our alumni include:

  • Accenture Consulting
  • Adidas
  • Vanguard
  • Merck and Co.
  • JP Morgan Chase
  • Smith-Barney
  • Met Life
  • Liberty Mutual
  • Sungard
  • TD Bank
  • Pepsi, Vietnam
  • Mitsubishi, Japan
  • Penske Truck Leasing
  • Enterprise Rent-A-Car
  • Lehigh Financial Group
  • Fordham University
  • Rosemont College
  • Northern Virginia Community College
  • The Heritage Foundation

 

Accounting

Most Albright accounting graduates go on to attain certified public accountant (CPA) designation. Our job placement rate is over 90 percent. The current chief financial officers of Kellogg’s, Cigna and REI received their accounting degrees from Albright. Other employers our alumni have joined include:

  • Ernst & Young LLP
  • PricewaterhouseCoopers
  • Santander Bank
  • Herbein & Company, Inc.
  • Alan Ross & Company
  • First Energy Corporation
  • Booz Allen Hamilton
  • Penske Corporation

 

Graduate and Professional Programs

Graduates of the department have gone on to enroll in law school, MBA programs and graduate programs in specialized areas, including sports marketing, public relations and advertising, economics, and international business. Recent Albright graduates have gone on to study at the following institutions:

  • Seton Hall University
  • Villanova University
  • Syracuse University
  • Old Dominion University
  • Lehigh University
  • Drexel University
  • Temple University
  • Fordham University
  • George Mason University
  • Rutgers University School of Law
  • Norwich University
  • Villanova Law School
  • Dickinson School of Law
  • Rosemont College
  • Boston College
  • Widener University
  • Pennsylvania State University

Alumni Stories