Section
Eastern University Business

Accounting & Finance

Undergraduate Accounting & Finance Major

Overview:
The Bachelor of Science degree in Accounting and Finance is approved by the Pennsylvania Department of Education and accredited by the Commission on Higher Education of the Middle States Association of Colleges and Schools. The Department of Business is also a member of the International Assembly for Collegiate Business Education www.iacbe.org. The Accounting and Finance major is designed to prepare the graduate to go directly into public accounting, corporate or small business sectors, or to continue on to graduate school for an MBA or similar degree in any area of business.

See the links below to learn more about the Accounting & Finance Major:

Certification:
Certified Public Accountant (CPA)
Professional certification, awarded by each State Board of Accountancy, is a major goal for most accounting graduates and the most obtainable of the certifications.  It requires passing a difficult exam; and in most states, satisfying an experience requirement.  The CPA certificate can open doors of opportunity for service.  CPA's are recognized as leaders in the business community.  To qualify in most states, there is a set time of service in public accounting where duties range from the preparation of annual reports to tax and management advisory services.  The role of the CPA is to strengthen the financial integrity of the organization and to improve performance.  Public accounting is a rich learning experience and is highly recommended as a beginning career path for students wanting to become the best in the accounting profession.  When received, the CPA certificate is a license to operate your own accounting practice.

A masters degree can shorten the required time of service in public accounting before receiving the CPA certificate.  Pennsylvania, for example, reduces the experience requirement by one year for applicants holding a masters degree.  States similar to Pennsylvania, which do not require 150-credit hours to sit for the exam, also shorten the experience requirement for those holding a masters degree.  The message from the accounting profession is clear, earn a masters degree and pass the CPA exam.  The accounting program at Eastern University is designed to prepare you for certification.

For more information on the CPA certification, contact the American Institute of Certified Public Accountants at www.aicpa.org.

Chartered Financial Analyst (CFA):
The designation of a chartered financial analyst is globally recognized and is awarded by the CFA Institute (formally the Association for Investment Management and Research (AIMR)).  The requirements involve the passing of a three level course of study testing the candidate's knowledge in both accounting and finance.  These exams are designed to assure a standard quality in the financial services industry.   Although a bachelor's degree is required for the Chartered Financial Analyst exams, no specific course of study is prescribed for enrolling in the program.  There is also an experience requirement similar to the CPA exam.

For more information on the CFA certification, contact the the CFA Institute at www.cfainstitute.org

Certified Managerial Accountant (CMA) / Certified in Financial Management (CFM):
The Institute of Management Accountants (IMA) designed the CMA program in 1972.  The CMA program has four main objectives.  The first is to establish management accounting as a recognized profession by identifying the role of the management accountant and financial manager, the underlying body of knowledge, and course of study by which such knowledge is acquired.  The second objective is to encourage higher educational standards in the management accounting field.  Third, to establish an objective measure of an individual's knowledge and competence in the field of management accounting.  The final objective is to encourage continued professional development by management accountants.

Many positive attributes accompany the CMA title.  The earning potential for certified management accountants are $9,000-$15,000 more than those without this designation.  Also more than 170 corporations support this program and actively search for candidates with the CMA certification.

The CMA and CFM exams are designed in four detailed sections.  For more information on the certifications of CMA and CFA contact the Institute of Management Accountants at www.imanet.org.

For further information please contact department co-chairs:

Professor Tod Gilmore (610) 341-1546, or email: tgilmore@eastern.edu

Dr. Lindy Backues (610) 225-5533, or email: lbackues@eastern.edu