Gary Peters
Department Chair
401 Business Building
479-575-4051
Accounting Department Website

The mission of the William T. Dillard Department of Accounting is to cultivate an environment of educational excellence. We do so by pursuing the following endeavors:

  • Providing a learning environment in which students interact with others to identify and solve accounting and business problems.
  • Developing and disseminating knowledge that has the potential for significant impact on accounting, business, and education.
  • Interacting with the accounting profession, the business and academic communities, and the community at large.

The Department of Accounting offers an undergraduate degree program in accounting and graduate programs at both the master’s and doctoral levels. The department’s programs are accredited by the AACSB – The International Association for Management Education, which ensures quality and promotes excellence and continuous improvement in undergraduate and graduate education. In addition, the accounting department offers courses in Business Law.

The objective of the B.S.B.A. accounting curriculum is to provide students with a broad overall education, solid grounding in the common body of knowledge of business administration, and exposure to accounting in sufficient depth to help them achieve entry-level competence for pursuit of a career in industry. The department also offers a five-year integrated program approach to receive the Master of Accountancy degree, which leads to the simultaneous award of the B.S.B.A. and the Master of Accountancy degrees. The integrated program is designed for students who wish to concentrate in accounting and obtain education in an accounting specialization. The objective of the integrated program is to provide students with advanced knowledge of accounting and business topics in order to obtain an accelerated position in accounting or help them launch a career in public accounting. Those students who are not accepted into the integrated program or choose not to enroll in the integrated program will be allowed to graduate with a B.S.B.A. upon successful completion of the B.S.B.A. degree requirements and Accounting Major Requirements.

Students may elect to pursue the B.S.B.A. in Accounting or a Minor in Accounting in an online format. Students must apply to the University of Arkansas, Office of Admissions for consideration to enroll in the B.S.B.A. and indicate their interest in the online program on the admissions application.  Students are required to submit official transcripts (either high school or college transcripts or both), and an application fee.  Students interested in pursuing a minor must notify the Walton College Undergraduate Programs Office.

Accounting Major Requirements

Course Requirements in the Major (24 hours)
ACCT 3533Accounting Technology3
ACCT 3723Intermediate Accounting I3
ACCT 3753Intermediate Accounting II3
ACCT 3843Fundamentals of Taxation I3
ACCT 4203Fundamentals of Taxation II3
ACCT 4673Product, Project and Service Costing3
ACCT 4703Governmental/Nonprofit Accounting3
ACCT 4963Audit and Assurance Services3
Maximum of 30 hours of ACCT courses in department (core, major, elective). More than 30 hours allowed if the extra courses are part of interdisciplinary minor or collateral track.
Total Hours24

Junior/Senior Business Electives (12 hours)

Selection of electives should be made in consultation with academic advisors. 

The following courses are highly recommended to satisfy the junior/senior business elective requirement if not used toward the major:  ACCT 310V, ACCT 310VHACCT 3543, ACCT 410V, ACCT 4003H, FINN 3013, FINN 3103, ACCT 4123H,ISYS 4213 or any 3-hour Walton College Study Abroad Course.  Students in the online program are encouraged to complete ACCT 310V, FINN 3013, ISYS 4213, or any 3-hour Walton College Study Abroad Course.  

Maximum of 30 hours of ACCT courses in department (core, major, elective).  More than 30 hours allowed if the extra courses are part of interdisciplinary minor or collateral track.

Accounting Students are encouraged to utilize ACCT 310V in the Spring of Year 4 for Internship Credit as a business elective (in combination with compressed sections of ACCT 3543 and ACCT 4673). To do so requires the student to defer 3 credit hours of General Education electives to an alternative Fall, Spring, or Summer semester. This also strengthens the ability of the student to transition into the Masters of Accounting Program.

Accounting B.S.B.A.

Eight-Semester Degree Program:

Students wishing to follow the eight-semester degree plan should see the Eight Semester Degree Policy in the Academic Regulations chapter for university requirements of the program.

Courses in BOLD must be taken in the designated semester. Courses in ITALIC may be taken in varied sequences as long as other designated requirements for these courses are met. Although other courses listed are not required to be completed in the designated sequence, the recommendations below are preferred.

First YearUnits
FallSpring
ENGL 1013 Composition I (ACTS Equivalency = ENGL 1013)3  
MATH 2053 Finite Mathematics3  
COMM 1313 Public Speaking (ACTS Equivalency = SPCH 1003)3  
WCOB 1111 Freshman Business Connection1  
BLAW 2013 The Legal Environment of Business (ACTS Equivalency = BLAW 2003)13  
ISYS 1120 Computer Competency Requirement0  
U.S. History or Political Science– University Core3  
ENGL 1023 Composition II (ACTS Equivalency = ENGL 1023)  3
ACCT 2013 Accounting Principles  3
WCOB 1033 Data Analysis and Interpretation  3
ECON 2023 Principles of Microeconomics (ACTS Equivalency = ECON 2203)  3
Natural Science – University Core  4
Year Total: 16 16
 
Second YearUnits
FallSpring
ACCT 2023 Accounting Principles II3  
ISYS 2103 Business Information Systems13  
MATH 2043 Survey of Calculus (ACTS Equivalency = MATH 2203)23  
Social Science – University Core3  
Fine Art/Humanities – University Core3  
SCMT 2103 Integrated Supply Chain Management  3
MGMT 2103 Managing People and Organizations1  3
ECON 2013 Principles of Macroeconomics (ACTS Equivalency = ECON 2103)2  3
Fine Art/Humanities – University Core  3
Natural Science – University Core  4
ALL pre-business requirements should be met by end of term
Year Total: 15 16
 
Third YearUnits
FallSpring
FINN 3043 Principles of Finance13  
MKTG 3433 Introduction to Marketing13  
ACCT 3723 Intermediate Accounting I3  
ACCT 3843 Fundamentals of Taxation I3  
General Education Electives3  
ACCT 3753 Intermediate Accounting II  3
ACCT 4203 Fundamentals of Taxation II  3
MGMT 3013 Strategic Management  3
Junior/Senior Business Elective  3
General Education Electives   3
Year Total: 15 15
 
Fourth YearUnits
FallSpring
ACCT 3533 Accounting Technology3  
ACCT 4703 Governmental/Nonprofit Accounting3  
Junior/Senior Business Electives6  
General Education Electives3  
ACCT 4673 Product, Project and Service Costing  3
ACCT 4963 Audit and Assurance Services  3
Junior/Senior Business Electives  3
General Education Electives  3
Year Total: 15 12
 
Total Units in Sequence:  120

Accounting Minor for Business Students

The Department of Accounting offers a minor for Walton College students desiring more knowledge of accounting to assist them in their business careers. The minor requires the completion of 15 specific hours of study with all of the upper division courses applied toward the minor taken in residence. The 15 hours include the following courses:

ACCT 3723Intermediate Accounting I3
ACCT 3753Intermediate Accounting II3
ACCT 3843Fundamentals of Taxation I3
Choose two of the following three courses:6
Accounting Technology
Product, Project and Service Costing
Audit and Assurance Services
Total Hours15

Students who desire to earn an Accounting minor must notify the Walton College Undergraduate Programs Office of intent to pursue a minor. All requirements for the minor must be completed prior to the awarding of the student’s undergraduate degree. All specific course prerequisites must be met. Each student must have a 2.00 cumulative grade-point average in the courses offered for the minor. All upper level minor requirements must be taken in residence.

Admission

Students are admitted to the integrated program according to the following requirements. Admission is granted only for the fall semester; Feb. 15 of the Junior year is the application deadline for those who wish to begin the integrated program the following fall. Students interested in this program must have completed 90 credit hours of study towards the baccalaureate degree (including ACCT 2013, ACCT 3723 and ACCT 3843) by the Feb. 15 deadline.

Acceptance into the integrated program is based upon the discretion of the admissions committee. The committee considers the overall quality of the applications, including the overall grade point average and the grades in ACCT 2013, ACCT 3723 and ACCT 3843.  In addition, they are expected to have already mastered basic accounting concepts or, demonstrated, with and official, Graduate Management Admission Test (GMAT) score, as well as other relevant examples of academic ability and leadership. To receive serious consideration by the admissions committee, a student should have a minimum GPA of 3.0 within the applicant’s overall university and accounting coursework. Due to the demand for seats in the program, the admissions committee selectively restricts admission into the program based upon the availability of instructional resources. Students must complete at least two long-session semesters in residence in the Master of Professional Accounting or Master of Accountancy program.

Transfer students will be handled on a case-by-case basis.

Satisfactory Progress

Students are expected to make continuous progress toward the degree by completing required accounting coursework each semester. Students who fail to meet the requirements for the M.P.Ac. or M.Acc. program must choose another major of study or finalize their B.S.B.A. in Accounting. Students will be notified before this action is taken and should meet with an academic advisor in the Undergraduate Programs Office upon notification.

Probation

A student is placed on probation if his or her grade point average in core undergraduate accounting courses falls below 3.00. Except with the consent of the M.Acc./M.P.Ac. Program Director a student on probation may not take graduate accounting courses.

Graduation

To receive an integrated B.S.B.A/M.Acc./M.P.Ac. degree, a student must have a grade point average of at least 3.00 in all coursework taken as part of the minimum 30-hour M.Acc. or M.P.Ac. degree. He or she must also have a grade point average in graduate accounting coursework of at least 3.00.

Degree Requirements

The requirements of B.S.B.A./M.Acc./M.P.Ac. Integrated program are:

  1. Undergraduate coursework
    1. Complete the B.S.B.A. degree requirements and Accounting Major Requirements detailed above.
    2. Students are strongly encouraged, but not required, to participate in an accounting internship, ACCT 310V, ACCT 310VH, or ACCT 535V.
  2. Graduate coursework

Students with appropriate backgrounds in business administration and economics and with an undergraduate concentration in accounting will be required to complete 30 semester hours of course work beyond the baccalaureate degree, at least 21 semester hours of which must be in courses reserved exclusively for graduate students..

All students must be enrolled for a minimum of 9 hours during consecutive fall/spring semesters during their graduate year. The student must be in residence a minimum of 24 weeks (see residency requirements of the Master of Arts/Master of Science).

Students must complete the specified graduate coursework of the M.Acc. or M.P.Ac. degrees as described in the Graduate Catalog.

The M.Acc./M.P.Ac. degree programs do not require a thesis. Successful completion of the integrated B.S.B.A/M.Acc./M.P.Ac. program from the University of Arkansas will qualify a student to take relevant professional examinations.

For further information, write to the M.Acc./M.P.Ac. Adviser, Department of Accounting, Walton College of Business, University of Arkansas, Fayetteville, AR 72701 or contact the Graduate School of Business at gsb@walton.uark.edu.

Alecusan, Melanie, M.B.A. (John Brown University), Instructor, 2014.
Allee, Kristian, Ph.D., M.B.A. (Indiana University), B.S. (Brigham Young University), Associate Professor, 2016.
Atwood, T. J., Ph.D. (University of Illinois), M.B.A. (University of Texas at Austin), B.S. (Western Kentucky University), Associate Professor, 2014.
Bills, Ken, Ph.D. (University of Oklahoma), M.A., B.A. (Southern Utah University), Associate Professor, 2015.
Cassell, Cory A., Ph.D. (Texas A&M University), M.S., B.S. (Trinity University), Associate Professor, 2009.
Coston, Corey, M.A., B.S.B.A. (University of Arkansas), Instructor, 2010.
Crawley, Michael, Ph.D. (University of Texas at Austin), M.B.A., B.S. (Indiana University), Assistant Professor, 2016.
Daily, Cynthia, D.B.A. (Louisiana Tech University), M.B.A., B.B.A. (Henderson State University), Clinical Associate Professor, 2016.
Fowler, Jason, M.B.A. (John Brown University), B.S.B.A. (University of Arkansas), Instructor, 2015.
French, Mandy, B.B.A. (University of Oklahoma), Instructor, 2015.
Greenhaw, William Karl, J.D. (University of Arkansas), B.A. (Westminster College), Instructor, 2001.
Hayes, Thomas P., Ph.D. (University of North Texas), M.Acc. (University of Missouri), B.A. (Westminster College), Clinical Assistant Professor, 2019.
Henry, Erin E., Ph.D. (University of Connecticut), Visting Assistant Professor, 2019.
Jarnagin, Robyn, LL.M. (New York University), J.D., B.S. (University of Montana), Clinical Assistant Professor, 2016.
Keskek, Sami, Ph.D. (Texas A&M University), M.S. (Fatih University), B.S. (Bogazici University), Assistant Professor, 2011.
Kristian, Allee, Ph.D., M.B.A. (Indiana University), B.S. (Bringham Young University), Associate Professor, 2016.
Leflar, Charles Joseph, Ph.D., M.A. (University of Missouri-Columbia), B.S.B.A. (University of Arkansas), Clinical Professor, 1993.
Norwood, John Martel, J.D. (Tulane University), M.B.A., B.A. (Louisiana State University), Professor, 1981.
Peters, Gary F., Ph.D. (University of Oregon), M.S. (University of Missouri-Columbia), B.S. (Arkansas Tech University), Professor, 2003.
Petrone, Kim, J.D. (Northwestern University), B.A. (Southern Methodist University), Instructor, 2012.
Rawson, Caleb, Ph.D. (University of Colorado at Boulder), B.S. (Colorado Christian University), Assistant Professor, 2018.
Richardson, Vernon J., Ph.D. (University of Illinois-Urbana-Champaign), M.B.A., B.S. (Brigham Young University), Distinguished Professor, 2005.
Rowe, Stephen, Ph.D. (University of Illinois), M.S. (Loyola University Chicago), B.A. (Covenant College), Assistant Professor, 2016.
Shipman, Jonathan, Ph.D. (University of Tennessee), B.S. (University of Central Arkansas), Associate Professor, 2015.
Terrell, Katie, M.B.A. (University of Arkansas), B.A. (University of Central Arkansas), Instructor, 2012.
Thomas, JaLynn D., B.S. (Louisiana Tech College Ruston Campus), Instructor, 2011.
Wiebe, Zac, M.A. (University of Kansas), B.S. (University of Saskatchewan), B.S. (North Carolina State University), Assistant Professor, 2018.

Accounting Courses

ACCT 2013. Accounting Principles. 3 Hours.

Introduction of accounting as an information system with emphasis on processing and presenting information in the form of financial statements for use in decision making. The course emphasizes business processes and double entry accounting. Prerequisite: (Non-business majors: (ISYS 1120 or (ISYS 1123 with a grade of C or better)) and MATH 2043 or higher with a grade of C or better), or (Business majors: (ISYS 1120 or (ISYS 1123 with a grade of C or better)), WCOB 1111, and (MATH 2053 or MATH 2554 with a grade of C or better)). (Typically offered: Fall, Spring and Summer)

ACCT 2013H. Honors Accounting Principles. 3 Hours.

Introduction of accounting as an information system with emphasis on processing and presenting information in the form of financial statements for use in decision making. The course emphasizes business processes and double entry accounting. This course is equivalent to ACCT 2013. Prerequisite: (Non-business majors: Honors Standing, (ISYS 1120 or (ISYS 1123 with a grade of C or better)), and MATH 2043 or higher with a grade of C or better) or (Business majors: Honors standing, (ISYS 1120 or (ISYS 1123 with a grade of C or better)), WCOB 1111 and (MATH 2053 or MATH 2554 with a grade of C or better)). (Typically offered: Spring)
This course is equivalent to ACCT 2013.

ACCT 2023. Accounting Principles II. 3 Hours.

In this course we study managerial accounting concepts and their use in business decisions. We will examine the development and analysis of cost information for management use in decision-making, income determination, and performance evaluation. Prerequisite: ACCT 2013 with a grade of C or better. (Typically offered: Fall, Spring and Summer)

ACCT 310V. Accounting Internship. 1-3 Hour.

This class is designed to give students an internship opportunity to combine their formal academic preparation with an exposure to the accounting profession. Prerequisite: Department consent and ACCT 3723 with a grade of C or better. (Typically offered: Spring) May be repeated for up to 3 hours of degree credit.

ACCT 310VH. Honors Accounting Internship. 1-3 Hour.

This class is designed to give students an internship opportunity to combine their formal academic preparation with an exposure to the accounting profession. Prerequisite: Honors standing, Department consent and ACCT 3723 with a grade of C or better. (Typically offered: Fall, Spring and Summer) May be repeated for up to 3 hours of degree credit.
This course is equivalent to ACCT 310V.

ACCT 3533. Accounting Technology. 3 Hours.

This course provides an overview of accounting information systems and illustrates the importance of technology to accountants. Students are exposed to a variety of information technologies including manual, file-oriented, and database systems. The relative advantages and disadvantages of each type of system are highlighted and discussed. Prerequisite: ACCT 2013 with a grade of B or better. (Typically offered: Fall and Spring)

ACCT 3543. Accounting Analytics. 3 Hours.

This course provides students with an overview of the data analytics process in accounting: asking appropriate accounting questions, finding and mastering appropriate accounting data to address those questions, performing test analysis and communicating the results of the data through data visualizations. Extensive hands-on, experiential learning using short Excel and Tableau labs is a key part of the course. Basic knowledge of excel is recommended. Prerequisite: (Non-business majors: (ACCT 2013 with a grade of B or better) and (INEG 2313 or STAT 3013 with a grade of B or better)) or (Business majors: (ACCT 2013 with a grade of B or better) and (WCOB 1033 with a grade of B or better)). (Typically offered: Fall and Spring)

ACCT 3723. Intermediate Accounting I. 3 Hours.

This course is designed to study the theoretical basis for financial accounting concepts and principles related to financial reporting. This course emphasizes researching technical accounting pronouncements for application to external financial reporting issues. Prerequisite: ACCT 2013 with a grade of B or better. (Typically offered: Fall and Spring)

ACCT 3753. Intermediate Accounting II. 3 Hours.

This is the second financial accounting course designed to continue study of financial accounting concepts and principles. This course emphasizes research of technical accounting pronouncements for application to external financial reporting issues. Prerequisite: ACCT 3723 with a grade of C or better. (Typically offered: Fall and Spring)

ACCT 3843. Fundamentals of Taxation I. 3 Hours.

Introduction to federal income taxation with a focus on individuals, including basic tax concepts, income tax principles applicable to individual taxpayers, primary tax law authorities, tax research techniques, and tax planning strategies. Prerequisite: ACCT 2013 with a grade of B or better. (Typically offered: Fall and Spring)

ACCT 4003H. Honors Accounting Colloquium. 3 Hours.

Explores events, concepts and/or new developments in the field of accounting. Prerequisite: Honors standing, Senior standing and ACCT 3723 with a grade of C or better. (Typically offered: Fall)

ACCT 410V. Special Topics in Accounting. 1-3 Hour.

Explore current events, concepts and new developments relevant to Accounting not available in other courses. Prerequisite: Department consent. (Typically offered: Irregular) May be repeated for up to 6 hours of degree credit.

ACCT 4123H. Professional Ethics and Corporate Governance. 3 Hours.

An examination of various aspects of accounting and business ethics including ethical theories; ethical reasoning; ethical values - including integrity, objectivity, auditor independence, and other values relevant for accountants; and ethics codes. The course provides students with a framework of ethical reasoning, professional values and attitudes for exercising professional skepticism and other behavior that is in the best interest of the public and accounting profession. Aspects of corporate governance related to establishing an ethical corporate culture will also be addressed. Prerequisite: Senior standing, Honors standing, and ACCT 3723 with a grade of C or better. (Typically offered: Spring)

ACCT 4203. Fundamentals of Taxation II. 3 Hours.

Study of federal income taxation with a focus on entities other than individuals (C corporations, S corporations, partnerships, estates, and trusts) as well as an introduction to federal transfer taxes, state and local taxes, and multinational tax issues, including applicable tax principles and continued development of tax research techniques, and tax planning strategies. Prerequisite: ACCT 3723 and ACCT 3843 each with a grade of C or better. (Typically offered: Fall and Spring)

ACCT 4673. Product, Project and Service Costing. 3 Hours.

Cost systems with emphasis on information generation for cost management of products, projects and services. The course includes spreadsheet and other computer program analysis. Prerequisite: ACCT 2023 and ACCT 3723 each with grades of C or better. (Typically offered: Fall)

ACCT 4703. Governmental/Nonprofit Accounting. 3 Hours.

Governmental and non-profit accounting, financial statement and internal controls compliance, and auditing for government and other non-profit organizations. Industry specific issues in accounting for health care organizations and colleges and universities; and federal governmental accounting. Prerequisite: ACCT 2013 and ACCT 2023 each with a grade of C or better. (Typically offered: Irregular)

ACCT 4883. Energy Accounting. 3 Hours.

This course covers the basic issues of accounting and financial reporting for energy issues including hydrocarbon production, processing and sales as well as accounting for wind, solar and other alternative energy sources. Covers national and international energy policy, relevant public policy, environmental and geological issues,and considers environmental law, climate and economic topics relevant to energy topics. Prerequisite: ACCT 3723 and ACCT 3753 each with a grade of C or better. (Typically offered: Irregular)

ACCT 4963. Audit and Assurance Services. 3 Hours.

Professional standards and procedures as applied to external and internal assurance engagements. Including coverage of the economic role of assurance providers, engagement planning, risk assessment, evidence gathering, and reporting. Prerequisite: ACCT 3723 with a grade of C or better. (Typically offered: Fall and Spring)

Business Law Courses

BLAW 2013. The Legal Environment of Business (ACTS Equivalency = BLAW 2003). 3 Hours.

Introduction to the legal and ethical environment in which business operates. Topics covered in this survey course include: introduction to the legal system and the judicial resolution of disputes, constitutional law, administrative law, criminal law, torts, contracts, property law, advertising and marketing law, bankruptcy and credit transactions, business organizations, antitrust, employment law and ethics. (Typically offered: Fall, Spring and Summer)

BLAW 2013H. Honors The Legal Environment of Business. 3 Hours.

Introduction to the legal and ethical environment in which business operates. Topics covered in this survey course include: introduction to the legal system and the judicial resolution of disputes, constitutional law, administrative law, criminal law, torts, contracts, property law, advertising and marketing law, bankruptcy and credit transactions, business organizations, antitrust, employment law and ethics. (Typically offered: Fall, Spring and Summer)
This course is equivalent to BLAW 2013.

BLAW 3033. Commercial Law. 3 Hours.

A study of the laws applicable to commercial transactions. Topics covered include the common law of contracts, Articles Two (Sales) and Three (Commercial Paper) of the Uniform Commercial Code, secured transactions, suretyship, and bankruptcy. (Typically offered: Spring)