The Accounting major at Grace College is designed to meet the needs of students who wish to become Certified Public Accountants (CPA) or Certified Management Accountants (CMA) and also for students who do not plan to pursue such a certification.
Grace College has received specialized accreditation for its business program through the International Assembly for Collegiate Business Education (IACBE), located in Olathe, Kansas. Accounting is a broad field with several different career paths. Graduates may choose to pursue a career such as financial accounting, managerial or cost accounting, auditing, tax, governmental accounting, or not-for-profit accounting.
The Accounting Program at Grace College prepares graduates for such careers. If the student wishes to pursue a certification after graduation (CPA or CMA are the most common), majoring in accounting at Grace provides the necessary coursework in both accounting and business to meet the requirements to take these exams for most states. Most states now require 150 hours of college credit to sit for the CPA exam. The Grace College Accounting Program helps students achieve 150 hours of credit in 4 years instead of the 5 years required at many other colleges. Accounting courses at Grace are appropriately rigorous, preparing students for professional careers in accounting.
One measure of success in an Accounting program is the percentage of graduates passing the CPA exam on their first attempt. Grace College's percentage of graduates passing the CPA on their first attempt continues to remain consistently higher than the national average. In 2011, Grace graduates placed 10th in the nation out of 793 schools and first in Indiana in first time CPA exam pass rate.
Examples of courses in this major:
Integrates accounting theories and concepts in the preparation and analysis of financial statements with emphasis on corporate accounting. During the two semesters, students encounter a detailed study of the balance sheet.
Emphasis on job order cost, process cost, and standard cost systems, as well as the use of cost data in decision making.
This course is a practical study and use of technology to record and present accounting data.
This course provides an overview of the structure of the federal income tax, including the tax treatment of individuals, business entities and investments. Based on this overvie, tax compliance, tax planning and the role of taxes in decision making are examined.
Emphasis on the principles underlying the verification of financial statements by independent public accountants and the auditor’s report.
The individuals who will challenge you to learn:
B.A. in Business, Goshen College; M.B.A., Indiana University; D.B.A., Anderson University; South Bend C.P.A.
Having worked in public accounting (staff accountant), health care accounting (corporate controller), and non-profit accounting (chief financial officer), Professor Roger Stichter has a broad accounting background at various levels of responsibility. He has taught at Grace College for over 14 years. He enjoys spending time with his wife and 7 children, bicycling (he has biked from San Diego to Savannah and recently took a 750+ mile trip around Michigan), fishing, and spending time researching the lifestyle of generosity. He recently completed his D.B.A. in accounting at Anderson University.
B.S. in Business, Indiana University; MBA, Ph.D. in Business, Indiana University M.S. in Interdisciplinary Studies, Texas Tech University M.A. in Economics, University of Notre Dame Master of Ministry; M.A. in Theological Studies, Bethel College CPA, State of Indiana
Dr. Brad Lemler teaches accounting, finance, economics, and statistics for the School of Business. His teaching background includes online and on-ground delivery, and in both undergraduate and graduate programs. He is an active member of the Christian Business Faculty Association through which he has presented and published papers on faith integration, reviewed papers and proposals, served on committees, and served as the secretary/treasurer for the CBFA board. These experiences have enhanced his capacity to teach his business courses from a distinctly Christian perspective.
Some of the positions you can obtain:
The CMA certification requires the applicant to take an exam after completing a bachelor's degree. CMAs generally work for manufacturing companies holding positions of cost accountant, controller, etc. Unlike the CPA certification which requires a bachelors degree and 150 hours of college credit, the CMA exam only requires the hours needed for a bachelors degree (usually 120 hours).
Auditors work either in public accounting, government, or for large companies helping assure compliance with government regulations and/or a company's own internal guidelines. Auditing positions often are good training for accountants as the accountant learns much about the workings of the specific business and business in general. Auditors often are promoted to management positions at a young age as auditing experience is valued by the business world.
Tax Professionals may work as tax preparers for individuals or businesses needing tax advice and/or tax return preparation. Tax Professionals may also work for a corporation aiding the corporation as the company makes decisions that affect taxes paid in both the United States and other countries. The accounting curriculum at Grace College along with electing the second semester of Income Tax provides graduates with the background needed to begin a career as a Tax Professional.
Bookkeeping is the process of recording accounting information for a business. There are several types of positions needed to help the company accurately record information and pay employees and vendors. The accounting major at Grace College prepares graduates to easily handle these positions. Graduates will also have the knowledge needed to be quickly promoted to bookkeeping and payroll supervisory positions within the company.
Cost Accountants are a valuable employee to both manufacturing companies and other service companies by providing reports and analysis detailing the cost of products and services. The company uses this information to set prices of products and aid in cutting costs. An accounting degree at Grace College prepares graduates in the background needed to provide this valuable service to companies.
CPAs hold a variety of positions in the business world. Graduates wishing to work in public accounting will often pursue the CPA certification. In most states, graduates must complete at least 150 hours of college level courses before being able to apply to take the CPA exam. The CPA certification is a desirable certification for nearly every accounting position in the business world and often gives the accountant a competitive advantage when applying for a job.
Controllers are in charge of coordinating, planning, and reporting on the financial activities of a large organization. Controllers work for banks, corporations, and government agencies. They set financial policies. Often they are in charge of the accounting, bookkeeping, and auditing departments and sometimes choose the accounting method a company employs. They supervise record keeping and set up controls to ensure efficiency and honesty. All financial reports made within a company go to the controller. The controller reports directly to the president or board of directors of a company or organization. The controller also supervises the financial reports that are sent out of the company. These include annual reports to stockholders, tax returns, and reports to government agencies.
A college professor is a teacher at a four year college or university. Professors help students increase their understanding of particular subjects and philosophies. In addition to teaching, professors typically have research requirements. These requirements vary depending on the academic institution and subject.
Direct and coordinate activities to implement institution policies, procedures, and practices concerning granting of extending lines of credit, commercial loans, real estate loans, and consumer credit loans. Support the day to day international field financial operations, assuring good customer service, communication, and coordination with headquarters.
What others are saying:
The Grace College School of Business has done an exceptional job of teaching its students the technical aspects of working within the business world. However, Grace College offers much more than an education of the in's and out's of business. The department also advises their students as to how they can personally work as light-giving Christians within a public business setting. Because of their ability and freedom to teach students how to live for Christ within the workplace, combined with their exceptional teaching of business skills, I can truly say that I wholeheartedly believe in and recommend the Grace College School of Business.
—Tammara Jongkind, B.S., Accounting/Business Administration, 2010
The Grace College School of Business prepared me professionally for my initial career in public accounting with a Big 4 Firm, and to be an ambassador for Christ through the integration of biblical principles with business practices and co-worker/client interaction. One unique aspect of Grace's School of Business when compared to the university I had previously attended was that the Grace professors always made themselves available to me to further my business education, mentor me spiritually, and assist in my career goals. Their deep involvement in my life helped form my perspective on balancing work and life, the emptiness of pursuing material possessions, and the importance of placing co-workers and others ahead of myself.
—Matthew Abernethy, Finance Director - Controller, U.S. Orthopedics, B.S., Accounting, 2003
As a Finance Executive with one of the local orthopedic companies where Grace is based, I've found the School of Business at Grace College to be unique in many ways. First and foremost, I find the passion for education and commitment to personal relationships that the faculty have with their students to be second to none that I've encountered in my many years of recruiting across college campuses. Second, the biblical integration into the curriculum by the faculty and members of the administration of the college is highly identifiable by the integrity and moral convictions exhibited by the students. Finally, the internship and eventual job opportunities available to the students in the School of Business include some of the best companies in the world as it relates to the area of accounting, finance, and business.
—Bob Vitoux, VP of Finance, Biomet Orthopedics, Warsaw, Indiana
I have been impressed with the level of commitment and enthusiasm of the School of Business faculty to the Grace College business students. It is refreshing to know that they are not only equipping our future business leaders with the knowledge and tools they need, but also instilling in them a value system based on biblical principles. We greatly need outstanding business leaders who reflect the values of the men and women of the Grace College School of Business, especially now in this current economic environment.
—Joan Darr, COO/CNO, Kosciusko Community Hospital - Retired, B.S. Nursing, 1967