What is Accounting?
LMU's Accounting major helps students learn to manage, control and evaluate businesses, from the smallest startup to the largest multinational. Students learn the definitions, concepts, and techniques of accounting, as well as the role the profession plays in society.
The major prepares students for careers in public, corporate, or governmental accounting. Graduates meet the educational requirements to be a Certified Public Accountant (CPA), Certified Management Accountant (CMA), and Certified Internal Auditor (CIA). Each certification requires a national examination, and LMU graduates have a high pass rate. LMU houses the Center for Accounting Ethics, Governance, and the Public Interest, which encourages ethical behavior among accounting professionals and organizational managers, and promotes the accounting profession’s responsibility to serve the public interest.
What do Accounting majors do?
Majors learn to explain, apply and evaluate financial accounting concepts at a professional level. Concepts include United States and International financial reporting standards, auditing standards, and key provisions and exceptions in the federal tax code. Students also delve into structured and unstructured real-world business problems.
Accounting majors benefit from a rich variety of learning and practice environments that are similar to those that graduates will experience in a professional setting. Environments include lectures, projects, team competitions, oral presentations, and special events.
Is this major right for you?
You might be an Accounting major if you:
- Like solving puzzles
- Are good with numbers
- Understand what numbers mean
- Are interested in business and economics
- Enjoy exposure to real-world business cases
- Want to pursue a professional career
About our faculty
Our faculty members are experts in fields such as cost and managerial accounting, executive compensation, corporate governance, financial accounting, tax policy, small business taxation, family tax planning, like-kind exchanges, financial reporting frauds, financial institutions, measurement issues, and earning management of banks.
Faculty members are PhDs, JDs, CPAs and, CFEs and have received awards and fellowships, worked for private enterprise and the federal government, and held positions in professional associations. Faculty members also serve on the editorial board of journals such as Journal Managerial Issues, Advances in Accounting , and The Journal of Accounting Education .
Publications that LMU accounting faculty have been featured in include: Accounting Horizons, The Tax Adviser, Journal of Accounting and Public Policy, Journal of Finance, Journal of Managerial Issues, Journal of Taxation of Investments, Accounting Today, Fraud Magazine, Managerial Finance, Government Finance Review, Practical Tax Strategies, and Review of Accounting and Finance.
About our students and graduates
Our students earn internships, study abroad, and put their skills to work in campus activities and organizations such as the Accounting Society, through which they learn about on-campus recruiting by major accounting firms. The Accounting Society sponsors “Meet the Firms Nights,” at which students can chat with representatives from accounting firms, as well as alumni and faculty.
LMU students majoring in Accounting will be prepared to hold management positions in corporations, public accounting firms, and government agencies, or to work as self-employed accountants. Other students go on to graduate studies in business administration, taxation and law.
Our courses have included:
- Financial Accounting
- Managerial Accounting
- Intermediate Accounting
- Advanced Accounting
- Cost Accounting
- Accounting Information Systems
- Accounting Ethics, Professionalism, and the Public Interest
- Federal Income Taxation
- Auditing, Assurance, and Attestation
- Fraud Examination
- Business Law Applications and Cases