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
Skills and Top Employers
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.
- Corbett, Duncan & Hubly (CDH)
- Friedman & Huey
- True Partners Consulting
- Warady & Davis LLP
- Weiss & Company LLP
The Accounting Department utilizes 3 sign ups (also known as waitlists) during the class registration process: Accounting General Sign Up for Full Classes, Accounting Placement Exam (APE) Sign up, and ACTG 315 Sign up. Students may request a time only once after receiving registration approval from the course waitlist.
The Accounting Department no longer has sign ups for ACTG 210 & 211 Non-UIC Business. Students may register themselves for the course without needing approval. The Accounting General Sign Up is for students to use only when a class they would like to take has already filled.
As of Spring 2020, the two sign ups (ACTG 315 has prereqs and ACTG 315 needs prereqs) originally used for ACTG 315 is now one sign up that will be used by Accounting major students to register for ACTG 315. Transfer credit for ACTG 315 is not accepted at UIC.
ACTG 315 Registration 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 & 211 with a “B” or better at the previous institution – to register
ACTG 315 Registration Requirements for Continuing UIC Students
Must take & pass ACTG 210 & 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.
Accounting Placement Exam
For continuing UIC Students
To be accepted as an accounting major, you need a “B” average in your ACTG 210 (Intro to Financial Actg) & 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
Transfer Credit for ACTG 315 is not acceptable. 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 & 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 & 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 & 211 with a “B” or better at the previous institution – do NOT have to take the APE
APE Exemption Information
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 email@example.com to review of your eligibility for exemption.
- 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).
- 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 & 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.
Upcoming Accounting Placement Exams
Illinois CPA Requirements
Candidates who apply to sit for the CPA exam after July 1, 2013 must meet the following requirements:
- Have a bachelors degree in any field
- 150 semester hours of college credit
- Specific courses: 30 hours of accounting credit; 24 hours of business courses other than accounting. Within the 30 accounting hours, there must be 2 hours of accounting research.
Candidates must also have 3 hours of business ethics class. For more information, visit the Illinois CPA Board of Examiners website. You can read the full administrative code.
Please note: The educational requirements to sit for the CPA in other jurisdictions vary. Please check the National Association of State Boards of Accountancy website to find out about the requirements in other states.
Courses for the CPA Exam
|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|
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
- 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.
Mandatory Accounting advising takes places during the 8th week of the spring and fall semesters (March and October). Advising is required for ALL undergraduate accounting majors taking Accounting 211 courses and up. A hold will be placed on your accounting preventing you from class registration until you attend an advising session with your faculty adviser.
You can find the name of your accounting faculty adviser on the bulletin-boards posted outside the accounting department office (2305 UH) or by the elevator on the 23rd floor. You can make your 10 min. advising appointment with your assigned faculty adviser by signing up on the appointment schedule posted on your adviser’s door. Appointments cannot be made over the phone and must be made at least 24 hours in advance. Professors’ availability vary during advising week so be sure to check your adviser’s availability when signing up.
Note: The Accounting Department’s faculty advising helps guide students in accounting classes and their prospective accounting careers. The Academic Accounting Advisers on the 11th floor of University Hall assist in guiding the student’s academic career and progress here at UIC.
You are responsible for the following:
- Sign up for an appointment on your accounting adviser’s door located on the 23rd floor of UH.
- Fill out and submit the Advising Hold Release Form
- After confirming your attendance, your hold will be released within 3-4 business days.
- Check your account to make sure that the advising hold has been taken off.
Please be sure to review the following prior to your advising appointment and/or bring the documents with you (copies will be available outside of 2305UH):