USC Leventhal School of Accounting

Undergraduate Degree

Bachelor of Science, Accounting

The USC Leventhal School of Accounting Bachelor of Science, Accounting (B.S.) degree is designed to provide students with a broad foundation in accounting and business to prepare them for entry into the professional program leading to a Master of Accounting or Master of Business Taxation degree. The undergraduate curriculum also provides the background necessary for direct entry into the accounting profession. The B.S., Accounting degree is a 128-unit program.

Admission

Students may be admitted to the program as incoming freshmen, as USC undergraduates transferring from another major or as students transferring from another college or university. Admission to Leventhal is dependent on admission to the university and on academic performance, particularly in quantitative areas. USC students who have not been admitted to the major or the minor in the Marshall School of Business and/or the Leventhal School of Accounting may complete a maximum of 12 units from the Marshall School of Business and/or the Leventhal School of Accounting. No further course work may be taken unless a student is admitted.

Leventhal/Marshall Honors

Leventhal/Marshall Honors is available upon graduation to majors in accounting or business administration and results in a special designation of departmental honors on a student’s transcript. Acceptance to the program requires completion of at least 64 units of course work (including transfer units), a GPA of 3.5 or higher in course work to be applied to the major, an application, and a successful interview with the director of the program. Achievement of Leventhal/Marshall Honors requires completion of ACCT 493 Honors Research Seminar (4 units) prior to the senior year, a thesis (research project and paper) conducted under the guidance of a Leventhal or Marshall faculty member during the senior year, and minimum GPA of 3.5 in upper-division Leventhal School of Accounting and Marshall School of Business courses applied to the major. For additional information, contact the Leventhal School of Accounting Undergraduate Program Office in ACC 101, (213) 740-4838.

Advisement

Academic advisement is provided through the Leventhal School of Accounting Undergraduate Program Office in Accounting 101, (213) 740-4838. Students are required to meet with an academic adviser before registering and this requirement remains in effect until 24 USC units are completed. However, all students are encouraged to see an academic adviser on a regular basis. A record of each student is kept on file. Appointments for advisement may be scheduled at most times during the academic year. However, during busy times such as the preregistration, registration and drop/add periods, advisers may be available on a walk-in basis only.

The Leventhal Undergraduate Program Office and Marshall Undergraduate Student Services offer students assistance in networking, finding internships, resume writing, interviewing techniques and other career-related issues.

Transferring College Credit

College Courses

USC has established articulation agreements with most community colleges throughout California. Most academic courses are acceptable for transfer credit from a two-year school, but students may not receive credit for specialized, technical or remedial courses.

Courses that do not appear on the articulation agreement are not transferable. A maximum of 64 semester units may be transferred. Check with the Degree Progress Department (JHH 010) for questions about transferable courses or see a counselor in Accounting 101.

Official transcripts of college work taken elsewhere must be submitted, at the time of application, to the USC Office of Admission. A credit evaluation will be completed which will list transfer courses accepted for credit. All business courses completed at a two-year college, if transferable, will be considered elective credit.

There is one exception to this policy. Students may transfer two semesters of introductory accounting and receive credit equivalent to one semester of introductory accounting at USC. Then students can register for BUAD 305 Abridged Core Concepts of Accounting Information and complete their accounting course requirement in one semester at USC. In this case, students would not be required to take BUAD 285ab or BUAD 286ab.

Four Year Colleges

Most courses are acceptable for unit credit from all fully accredited four-year institutions. If the courses do not satisfy specific subject requirements at USC, they will be accepted for elective course credit.

Students are urged to complete all their required business administration courses at USC. All business courses from four-year institutions, if transferable, will be considered elective credit unless a challenge examination is passed. Only core classes, with the exception of BUAD 497, may be challenged. Students should consult with an academic adviser in Bridge Hall 104 to initiate the challenge examination process.

Grade Point Average Prerequisites for Transfer Students

Transfer students are required to meet the following grade requirements to be admitted to the Leventhal School of Accounting. An average grade of B in the two transferred accounting courses and BUAD 305 (with no grade lower than B-). Grades in accounting courses taken at other institutions will only be considered in meeting the admission requirement for the Leventhal School of Accounting. Once a transfer student completes a minimum of two accounting courses at USC, the student’s accounting grades at the prior institution will no longer be considered in determining whether the student meets the 2.5 grade point average standard (see Grade Point Average Prerequisites following).

In the computation of grade point averages for accounting courses taken at other colleges or universities, the courses will be weighted in terms of the number of units provided for the equivalent USC accounting courses.

Grade Point Average Prerequisites

The following are grade point average prerequisites for any undergraduate student enrolled in any accounting course. Individual instructors may not waive these standards: (1) an average grade of B or better in BUAD 285ab or BUAD 286ab with no grade lower than a B-; and (2) a minimum 2.7 grade point average (A = 4.0) for all accounting courses taken previously.

In meeting the B average required in BUAD 285ab or BUAD 286ab, only one of the courses may be repeated. If the repeated course grade is higher, that grade will be considered in determining whether the student meets the B average, and the original course grade will be disregarded by the Leventhal School of Accounting in the administration of its grade point average requirements. See Repeated Course Work at USC for further restrictions on including grades in repeated courses in the overall university grade point average computation.

In computing grade point average prerequisites, BUAD 285ab or BUAD 286ab or BUAD 305x and BUAD 302T will be considered accounting courses.

Probation

When a student’s cumulative accounting grade point average falls below 2.7, the student is placed on probation. If a student on probation does not regain a minimum accounting cumulative GPA of 2.7 after completing the next 12 semester hours in all courses (including accounting units) attempted within the university, that student will not be permitted to continue as an accounting major in the Leventhal School of Accounting. Exceptions to this policy may be granted only in unusual circumstances by the Academic Standards Committee of the Leventhal School of Accounting. Decisions of the Academic Standards Committee are final.

To be removed from probationary status, a student may elect to take another accounting course or courses for which prerequisites are met or to repeat an accounting course or courses in an attempt to earn a higher grade. Regardless of the course of action taken, all courses completed will be counted in computing the cumulative accounting grade point average.

A grade of “W” in an accounting course taken while on probation will not extend probation. The probation period ends at the end of that semester during which the student completes a cumulative total of 12 semester hours of courses in any subject(s) at the university. Under no conditions will the student be permitted more than two successive semesters, including the summer semester, to complete the 12 semester hours of courses.

Graduation Standard

Students must attain a minimum 2.7 cumulative accounting grade point average (A = 4.0) to graduate with a Bachelor of Science, Accounting degree.

USC Core Requirements

All USC undergraduates take the USC Core, which comprises the general education, the writing, and the diversity requirement. The general education program provides a coherent, integrated introduction to the breadth of knowledge you will need to consider yourself (and to be considered by other people) a generally well-educated person. The general education program requires six courses in different categories. The writing program requires two courses: WRIT 140 and WRIT 340. The diversity requirement is met by passing any one course with the “m” designation. See The USC Core and the General Education Program for more information. In addition, a total of 60 units of non-business course work is required for the B.S. Accounting degree.

Business Foundation Requirements

All students in the Leventhal School accounting undergraduate degree program take business foundation courses that focus on necessary analytic skills and theoretical knowledge in math, statistics, accounting and economics. Fundamental knowledge of the functional business disciplines and the strategic interplay among them completes the business core.

ACCOUNTING/BUSINESS FOUNDATION COURSES UNITS
BUAD 285ab Accounting Fundamentals, Financial and Managerial Accounting (4-2), or
BUAD 286ab Accounting Fundamentals, Managerial and Financial Accounting (4-2) 6
BUAD 302T** Business Communication for Accountants 4
BUAD 304 Leading Organizations 4
BUAD 306 Business Finance 4
BUAD 307 Marketing Fundamentals 4
BUAD 310 Applied Business Statistics 4
BUAD 311T Operations Management for Accounting Majors 4
BUAD 497 Strategic Management 4
ECON 351x Microeconomics for Business 4
ECON 352x Macroeconomics for Business 4
MATH 118x** Fundamental Principles of the Calculus, or
MATH 125 Calculus I 4

*If an accounting student has already completed the course in a section not designated for accounting majors, he or she must check with an academic adviser in the Leventhal School of Accounting for advisement.

**Placement into MATH 118x is contingent on successful completion of MATH 117 or obtaining an acceptable score on the math placement exam or AP calculus or IB mathematics exam.

All prerequisites for business and all accounting and business courses must be taken for a letter grade.

A maximum of 24 units of undergraduate course work taken on a pass/no pass basis may be used toward the B.S., Accounting degree. No more than four units of credit (or one course) counting toward the general education categories may be taken on a pass/no pass basis. The writing course cannot be taken on a pass/no pass basis.

The Bachelor of Science, Accounting degree includes the following required accounting courses in addition to the accounting/business foundation courses listed above.

Required Accounting Courses Units
ACCT 370 External Financial Reporting Issues 4
ACCT 371 Introduction to Accounting Systems 4
ACCT 372 Internal Reporting Issues 2
ACCT 373 Introduction to Auditing and Assurance Services 2
ACCT 374 Introduction to Tax Issues 2
ACCT 377 Valuation for Financial Statement Purposes 2
ACCT 430 Accounting Ethics 4
ACCT 470 Advanced External Financial Reporting Issues 4
ACCT 473 Financial Statement Auditing, or
ACCT 474 Tax Issues for Business 2

Elective Courses Units
Choose one of the following courses:
ACCT 416 Financial Reporting and Analysis 2
ACCT 462 Detecting Fraudulent Financial Reporting 2
ACCT 463 Internal Audit 2
ACCT 471 Accounting Information Systems 2
ACCT 472 Managerial Accounting 2
ACCT 473* Financial Statement Auditing 2
ACCT 474* Tax Issues for Business 2
ACCT 475 Systems Security and Audit 2
ACCT 476 Performance Measurement Issues 2
ACCT 477 Intermediate Fair Value Issues in Accounting 2
ACCT 478 Accounting Systems Design 4
ACCT 479 Accounting Systems Development 4
ACCT 493 Honors Research Seminar 4

*If not already completed as a required course

Accounting Minor

A minor in accounting is available to students in all schools and departments except the Marshall School of Business. The minor provides the opportunity for non-business majors to gain an understanding, from the perspective of the user of accounting information, of how accounting is used in the business world. To be approved for the accounting minor, students must have completed a minimum of 32 units of college-level courses and attained a minimum GPA of 2.75. Successful completion of the 22 units for the accounting minor requires a minimum GPA of 2.0 in the following courses:

Course Requirements Units
ACCT 410x Foundations of Accounting 4
ACCT 415x Intermediate Financial Accounting for Non-Accounting Majors 4
BUAD 200x* Economic Foundations for Business 2
BUAD 215x Foundations of Business Finance 4

Choose two of the following courses:
ACCT 416** Financial Reporting and Analysis 2
ACCT 417** Advanced Financial Accounting for Non-Majors 2
ACCT 418x Accounting for Management Decisions 2
ACCT 419x Understanding Accounting Information Systems 2
ACCT 420x Understanding Income Tax 2
ACCT 462** Detecting Fraudulent Financial Reporting 2
ACCT 499 Special Topics 2

Choose one of the following courses:
BUAD 302 Communication Strategy in Business 4
BUAD 304 Leading Organizations 4
BUAD 307 Marketing Fundamentals 4
BUAD 311 Operations Management 4
FBE 400x Introduction to Real Estate Finance and Development 4
FBE 403 Legal Environment of Business 4

*Students who have taken ECON 203 or ECON 351 and ECON 205 or ECON 352 will be waived out of BUAD 200x.

**Prerequisite ACCT 415x.