The accounting concentration will prepare students for various careers in the accounting profession such as roles in public accounting, internal audit, private industry, non-profit organizations and financial institutions. In addition, it is the foundation that will lead students on a path to start to prepare for a career in public accounting and taking the CPA exam. Additional accounting courses in excess of the accounting concentration will be necessary if a student is pursuing this career path. See Public Accounting Path description below the curriculum maps for further information.
Sponsored by: Accounting and Law Division
Faculty Contacts: William Coyle, Robert Halsey, Virginia Soybel, and Shay Blanchette
Faculty contacts serve as advisers to those students who have an interest in the given concentration. You should feel free to contact these faculty members with questions.
Concentration Requirements: Four courses are required to earn the accounting concentration. Students must take three required courses and must also choose from one of the electives included below. Some courses are only offered in certain semesters and advanced planning is required if you are planning to go abroad, especially if you are considering pursuing a career in public accounting where you will need to take more courses than required by the concentration.
- ACC 3500 Intermediate Accounting I (Fall Semester Only)
- ACC 3501 Intermediate Accounting II (Spring Semester Only)
- ACC 4530 Advanced Accounting (previously ACC 7040) (Spring Semester Only)
At least one course should be taken from the following group:
- ACC 3510 Financial Planning and Cost Control (Varies when offered)
- TAX 3500 Taxes (Fall Semester Only)
- ACC 4510 Management Planning and Cost Control (Varies when offered)
- ACC 4520 Auditing (previously ACC 7035) (Fall Semester Only)
Public Accounting Path
If you pursue a career in public accounting, there are numerous roles you could take on within the organization. You may choose a path to pursue auditing or you could pursue a path to become a tax provider. As an auditor, you would audit client financial statements and assess their internal controls and as a tax provider you would prepare tax returns and assist clients with tax planning. If your goal is to become a CPA and take a position in a public accounting firm, the four courses required as part of the concentration will not be enough for you to pursue this career path. As a result, it is critical you seek the advice of the dean’s office and/or one of the faculty contacts above regarding the design of this concentration if you are following this path, especially if you have plans to go abroad.
CPA Exam and License Information
Students should be aware that the accounting concentration provides a foundation for taking the CPA exam and becoming a CPA, but the educational requirements to become a CPA varies by state and typically require more accounting credits than this concentration provides. All of the courses in the concentration are necessary, but most likely will not be sufficient for obtaining your CPA. In addition, some states allow an individual to sit for the CPA exam with less credits than are required to obtain your CPA license. The website for the National State Boards of Accountancy provides the detail requirements of what is required to sit for the CPA exam in each state. Refer to: http://nasba.org/exams/exam-resources/nasbacpaesjurisdictions/
Students should also refer to the applicable state society of CPA’s website to understand the full requirements to apply to obtain your CPA license. Here is the link for the Massachusetts Society of CPA’s: http://www.cpatrack.com/becoming_a_cpa/required/
For example in Massachusetts, you need 21 undergraduate credits in accounting to sit for the exam, but need 30 undergraduate credit (or graduate equivalent) hours to apply to obtain your CPA license. This 30 credit requirement would generally be satisfied through taking: Introduction to Financial Accounting (4), Managerial Accounting (3), Intermediate Accounting 1 (4), Intermediate Accounting 2 (4), Advanced Accounting (4), Auditing (4), Taxes (4) and either Financial Planning and Cost Control (4) or Management Planning and Cost Control (4). Remember, this requirement varies by state. It is your responsibility to make sure you have met the requirements of the state in which you want to pursue your CPA license.
In addition, obtaining a CPA license in most states requires 150 credits of college work. Furthermore, most public accounting firms want you to have completed your 150 credits prior to starting your full time position. If you graduate from Babson with less than 150 credits, Babson provides two opportunities for you to obtain additional credits to meet this requirement. Babson students can apply to the Babson MSA program or the Certificate of Advanced Accounting (“CAA”) Program to complete the requisite credits. With advanced planning, Babson students may accelerate completion of the MSA degree.
Babson undergraduates who plan ahead have the opportunity to enroll in and complete the 30 credit Masters of Science in Accounting (“MSA”) program by the August after their graduation by taking up to six elective credits of the MSA during the spring of their fourth year, which are covered by their undergraduate flat rate tuition.
In addition, Babson undergraduates who choose to pursue the CAA path and plan ahead may take up to six credits of the CAA program during the spring of their senior year, which are covered by their undergraduate flat rate tuition. These students will take the remaining twelve credits in the summer following graduation and should expect to complete the certificate by the end of August.
The curriculum map below is intended to be a guide, providing a sample framework to complete the requirements for a concentration and spend a semester abroad on an approved Education Abroad Program through the Glavin Office. Students can utilize the curriculum map as a starting point for creating an academic plan that is specific to their personal, career, and academic goals.