BS in Accounting
As an accounting major, you’ll be exposed to the latest research and theory, with plenty of opportunity for classroom practice and real-world application.
The program will prepare you for careers in financial, managerial, governmental, nonprofit and international accounting, as well as auditing and taxation. As an accounting major, you’ll be exposed to the latest research and theory, with plenty of opportunity for classroom practice and real-world application. The program will prepare you for careers in financial, managerial, governmental, nonprofit and international accounting, as well as auditing and taxation.
Requirements, Syllabi and Policies Heading link
Skills and Top Employers Heading link
Benefits
With an accounting degree, you’ll have the skills and knowledge to:
- Prepare tax returns for a large or small business
- Formulate financial reports for shareholders
- Organize and manage a company’s financial records
- Evaluate a nonprofit’s financial operations
- Audit businesses for a government agency
- Counsel management on ways to reduce costs, boost revenues and increase profits
Top Employers of UIC Business Accounting Graduates
For more career resources, visit the UIC Business Career Center site.
- Deloitte
- EY
- KPMG
- PwC
- CBIZ
- CohnReznick
- Corbett, Duncan & Hubly (CDH)
- Friedman & Huey
- RSM
- True Partners Consulting
- Warady & Davis LLP
- Weiss & Company LLP
Faculty
Accounting Waitlists Heading link
The Accounting Department utilizes 2 sign ups (also known as waitlists) during the class registration process: Accounting Placement Exam (APE) Sign up and ACTG 315 Sign up. Students may request a time change only once after receiving registration approval from the course waitlist.
Transfer credit for ACTG 315 is only accepted from institutions with AACSB Accounting Accreditation.
Please note: ALL students are required to take and pass ACTG 315 to continue as an Accounting Major. If you do not pass your first attempt, you may retake the course again. If you do not pass the course after 2 attempts, you will be asked to drop the major or may petition to take the course a third time.
ACTG 315 Requirements for Transfer Students
All Transfer students must take & pass APE Financial and/or Managerial portion to register for ACTG 315. Transfer credits for other courses (300 level & up) are accepted as long as they are from an AACSB accredited institution and do not exceed 12 credit hours total.
- Students who have taken ACTG 210 OR ACTG 211 at their transfer institution are not eligible to average out their grades (one from UIC with one from their transfer institution). Must retake the class at UIC or take the corresponding APE portion for their transfer course.
- Students who have taken ACTG 210 & 211 at their transfer institution, may take the both portions of the APE OR
- Retake and pass ACTG 210 & 211 with a “B” average at UIC to register for ACTG 315 OR
- Be Granted APE Exemption – 3.6 Transfer GPA at the time of UIC Admission and passed ACTG 210 and 211 with a “B” or better at the previous institution – to register.
ACTG 315 Requirements for Continuing UIC Students
Must take and pass ACTG 210 and 211 with a “B” average to register
Note: Students are not allowed to take ACTG 315, 326 and 474 in the same semester because the load will be too heavy. If you enroll in all three, you will be dropped from ACTG 326.
Students be advised that a CR received in 210/211 in fall 2020 will NOT be treated the same as a CR that was received in spring 2020. The Fall Grading Policy only impacts students who receive a “D” or “F” in a course. Students who receive a “D” will instead obtain a CR and those who receive an “F’ will receive a NC. As a result, students who receive a CR in 210/211 in the fall 2020 semester will not be allowed to register for ACTG 315. If you any questions, please contact Liz Madrigal in the Accounting Department.
Forms
- Use this form to request ACTG 315 registration for the Spring, Summer, and Fall semesters. Summer and Fall 2024 registration will be available beginning Mar. 11, 2024.
Accounting Placement Exam Heading link
The Accounting Placement Exam (APE) is now being held online. You may only take the Accounting Placement Exam once during your time at UIC. Please log in to my.uic.edu to sign up for the Accounting Placement Exam. For questions regarding the Accounting Placement Exams (APE), please call the Department of Accounting at (312) 996-5265 or email Justina Padilla.
Please note: Due to site maintenance, the Accounting Placement Exam will be held in-person for September and October. Contact Tina Padilla for availability.
For continuing UIC Students
To be accepted as an accounting major, you need a “B” average in your ACTG 210 (Intro to Financial Actg) and ACTG 211 (Intro to Managerial Actg). If you do not obtain a “B” average, but have at least a “C” in each of those classes, you may take the Accounting Placement Examination (APE) to gain acceptance into the major.
For Transfer Students
To be accepted as an Accounting major you must take and pass the APE or retake the course(s) at UIC. Please see the following circumstances to further understand if you need to take both portions (Financial and Managerial) of the APE, just one, or none:
- Students who have taken either ACTG 210 OR ACTG 211, but not both, at their previous institution and received a “C” or better may take the APE for the corresponding course (i.e. received a “B” in ACTG 210 so you take the Finance portion of APE).
- Students who took both ACTG 210 and 211 at a transfer institution and received a “C” or better may take both portions of the APE.
- Students who are APE Exempt – 3.6 Transfer GPA at the time of UIC Admission and passed ACTG 210 and 211 with a “B” or better at the previous institution – do NOT have to take the APE.
APE Exemption Information Heading link
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Exemption from APE
Transfer students who satisfy ALL of the following criteria will be exempted from taking the Accounting Placement Examination (APE):
- Must have a minimum of 3.60 (or higher ) cumulative transfer GPA, including all courses taken at other institutions, at the time of Admission to UIC. This is the same GPA used in your admission decision into UIC. No other GPA can be used to satisfy this criterion.
- Have completed BOTH Financial Accounting and Managerial Accounting at the time of applying to UIC. If a course appears as “in progress” on your degree audit (DARS), you must be able to provide proof that the course is complete and your final grade at the time of new student orientation.
- Must have obtained a ‘B’ or better grade at the previous institution(s) in both Financial Accounting and Managerial Accounting.
Please contact Justina Padilla at (312) 996-5265 or jlpadil2@uic.edu to review of your eligibility for exemption.
Note that:
- All requests for an EXEMPTION from the APE must be approved by the Accounting Department.
- All requests for an EXEMPTION must be made within the FIRST SIX WEEKS of the student’s first semester at UIC, irrespective of whether the student wishes to enroll in advanced accounting classes in their very first semester.
- EXEMPTIONS based on the above criteria will remain valid for eleven (11) calendar months from the time you first enroll at UIC and within which time you must register for Accounting 315. After 11 months the exemption will become void. No exemptions are valid beginning the 12th month after you first enroll at UIC.
All transfer students who do not meet the exemption requirements stipulated above, BUT have completed the equivalent of ACTG210 or ACTG 211 at their prior institutions are REQUIRED to take the APE, in order to continue with upper level accounting classes required in the major.
If you DO NOT want to take the Placement Examination, you have the following TWO options:
- Retake Financial Accounting (ACTG 210) and Managerial Accounting (ACTG 211) at UIC.
- If you have already taken the courses prior to transferring to UIC but received “C” or better in each course, you may petition to take ACTG 210 and ACTG 211 courses during the same semester here at UIC. To petition, you must present a copy of your transcripts to the Accounting Department in University Hall (Room 2303).
Please Note:
- There is NO SEPARATE exemption granted towards the Placement Examination for either Financial Accounting and or Managerial Accounting when a student has completed ONLY ONE class prior to starting at UIC. However, you can take the Placement Examination for either to opt out from retaking the corresponding course.
- For students who have passed the Placement Examination in one class, but not BOTH, you must obtain a minimum of a B grade in the other in order to be eligible to continue as an accounting major.
- If you choose to retake ACTG 210 and 211 instead of being exempted from the Placement Examination, please be aware that you will have to earn a minimum of 3.0 GPA between both courses at UIC. Students who do not must take the Accounting Placement Examination (APE), as do all continuing students at UIC. You are allowed to take the APE ONLY one time.
Illinois CPA Requirements to SIT for Exam Heading link
Fulfilling the following requirements allows you to SIT for the CPA Exam:
1. Graduate degree in accounting
- Accounting program must be accredited by AACSB or ACBSP
- Completion of 120 semester credit hours (SCH) or 180 quarter credit hours (QCH)
2. Graduate degree in business
- Business program must be accredited by AACSB or ACBSP
- Completion of 120 SCH or 180 QCH
- Minimum of 24 SCH in accounting
- At least one course each in taxation and auditing
3. A bachelor’s degree in any field or a graduate degree in a discipline other than accounting or business not accredited by AACSB or ACBSP
- Completion of 120 SCH or 180 QCH
- Minimum of 24 SCH in accounting
- At least one course in taxation and auditing
- Minimum of 12 SCH in business other than accounting
For more information, visit the Illinois CPA Board of Examiners website and/or the AICPA & CIMA website. You can read the full administrative code and course requirements.
Please note: While students just need 120 semester hours to SIT for the exam, they will need 150 semester hours (and one year of work experience) to BECOME LICENSED after passing the exam.
Courses for the CPA Exam Heading link
| Required | Recommended |
|---|---|
| ACTG 315 Intermediate Accounting I | ACTG 355 Business Law OR ACTG 509 Business Law |
| ACTG 316 Intermediate Financial Accounting II | ACTG 417 Advanced Financial Accounting |
| ACTG 326 Intermediate Financial Accounting II OR ACTG 506 Intermediate Financial Accounting II | ACTG 446 Federal Income Tax II |
| ACTG 435 Auditing | ACTG 456 Business Law II |
| ACTG 445 Federal Income Tax OR ACTG 508 Federal Income Tax | ACTG 465 Government and Non-profit Accounting |
| ACTG 474 Accounting Information Systems | ACTG 516 Financial Statement Analysis |
| ACTG 593 Accounting Research | |
| ACTG 590 Case Studies in Accounting |
Independent Study Heading link
When you take accounting courses you may come across a topic or area that excites you. If you find that there is no course that satisfies your need to study that area of interest, the Department offers an opportunity to further your learning through Independent study ACTG 396 (undergraduate) and ACTG 596 (graduate). You must study the basic materials in that area and develop a preliminary study plan. After that, contact a professor to act as your supervisor. It will be easier if you choose a professor who has already taught you in the past. If the professor’s interests does not match your topic, or if the professor is unable to supervise you, you may search through other professors’ areas of expertise online by viewing faculty profiles.
Please do not approach any professor without some knowledge of your area of interest and a plan. Once the professor agrees, please fill the out Independent Study Form.
Follow instructions listed therein and turn it to the department office. The department staff will register you for the course. Please try to do all this before the beginning of the term. You have to be registered by the second week of every term. This option is not for students who find at the beginning of the term they need a few more hours to fill up their schedule or to graduate.
Independent Study Topics
Genuine interest in a subject matter should drive the request to pursue an independent study course. Some recent Independent study topics have been:
- Analyst earnings forecast revisions
- Accounting practices in the real estate industry
- Abnormal returns based on accounting information screens
- Tax system in Taiwan
- Bank call report standards vs GAAP
- Accounting for Acquired In-process Research and Development
Other Requirements
- Students must have a cumulative GPA of at least 3.0.
- Only tenure track faculty may approve Independent Study course.
- A minimum of 150 hours of work is expected.
- Written Proposal: students are required to submit to the professor a 2-page proposal outlining the work to be done, the rationale for the project, and a timetable for submission of finished work.
- Independent Study requests should be prepared prior to the start of the semester or in the first week of classes to allow registration in another course if approval is denied.
Accounting Advising Heading link
Mandatory Faculty Advising
Mandatory Faculty Accounting advising takes place during the 9th week of the Spring and Fall semesters (March and October). Advising is required for ALL undergraduate accounting majors taking Accounting 315 courses and up. A registration hold will be placed on your account preventing you from registering for class until you attend an advising session with your assigned faculty advisor.
Eligible students will receive an email by the 8th week of the semester. This email will introduce you to your assigned accounting faculty advisor and provide instructions to schedule an appointment with them during advising week. Appointments are made via the appointment link provided in the email and may be virtual or in person. Students who attend advising during advising week will have their holds removed by the following week. Students who do not attend advising will maintain a registration hold until they have completed advising. Students can NOT schedule faculty advising appointments in iAdvise. You must use the link provided in the email.
Advising Responsibilities
You are responsible for the following:
- Sign up for an appointment using your advisor’s appointment link.
- Attend your appointment, your hold will be released within 3-4 business days.
- Check your account in 3 to 5 business days after advising week to make sure that the advising hold has been taken off.