College of Business 2014 Alumni Fellow Award: Diane Medley
Considered “the language of business,” accounting is the accumulation, analysis, interpretation, and communication of information about an entity’s operating, investing, and financing activities. Much of the accumulation work is done by computers and related technology, professional accountants focus more on analyzing, interpreting and communicating the information to investors, creditors, managers and other decision makers.
The UofL School of Accountancy is one of only 178 accounting programs throughout the world that are separately accredited by AACSB International (The Association to Advance Collegiate Schools of Business).
The BSBA program in the School of Accountancy provides opportunities to develop knowledge and skills necessary for a successful career in accountancy. In our program, you will learn about financial and managerial accounting, auditing, accounting information systems, taxation and other topics in accounting. Our graduates may pursue professional certification, including the Certified Public Accountant (CPA), Certified Management Accountant (CMA), and Certified Internal Auditor (CIA). Graduates may also pursue advanced degrees, such as the Master of Business Administration (MBA). Please see the UofL Undergraduate Catalog for pre-requisites and more information about the degree program.
The BSBA program in the School of Accountancy can be combined with the Information Security Concentration, which adds knowledge and skills in computer information systems security to the accounting major. Graduates may pursue the professional certifications noted above, and may also pursue the Certified Information Systems Auditor (CISA). Individuals with the CISA certification have additional career paths that may not be available to graduates with only a major in accounting. Please see the UofL Undergraduate Catalog for pre-requisites and more information about the degree program and concentration.
The College of Business offers a FlightPlan – an exciting initiative that enables students to stay on course to graduate in four years or in the time frame of their choice with a BSBA with an Accountancy major. Click for more information on the FlightPlan.
The Master of Accountancy (MAC) program is a specialized program aimed at individuals planning to complete the CPA examination and begin their careers in public accounting. More information on the Master of Accountancy.
The Certificate in Accounting Program (CAP) is designed for individuals who already have an undergraduate degree in a field other than accounting. The program consists of 7 courses (which must be completed while enrolled in the CAP). When combined with the prerequisite courses, graduates will have 27 hours of college-level accounting coursework required to sit for the CPA exam in Kentucky. Kentucky requires an additional 12 credit hours of college credit in business courses. Other states have different requirements. Information about those requirements can be obtained from the National Association of State Boards of Accountancy (www.nasba.org).
Please see the UofL Undergraduate Catalog for the most up-to-date information on prerequisites and curriculum.
Career Opportunities in Accountancy
The term “accountancy” refers to the professional practice of accounting. Individuals beginning a career in accountancy have many possible paths.
- Public accounting – working as a certified public accountant. CPAs practice on their own (“sole practitioner”) or in a firm of accountants.
- Industry – working as an accountant for companies like Papa John’s, Yum! Brands, LG&E, and many others here in Louisville or around the world. In industry, accountants work in financial reporting, internal audit, management accounting, budgeting and forecasting, and other areas.
- Government – working for governmental organizations at the federal, state and local level. In addition to managing governmental accounting functions, accountants work for the FBI, IRS, Department of Defense, and other agencies as auditors and investigators.
- Nonprofit organizations – working for organizations such as the YMCA, accountants find opportunities in roles similar to those found in industry.
- Academia – working at colleges and universities as instructors and researchers.
Many accountants begin their careers in public accounting and move to one of the other career paths after two or more years.
Many individuals begin their careers in accounting, but end up pursuing other career paths – such as executive management roles in a company. Those individuals develop leadership and other strengths while working as accountants, and use those strengths in their new role leading organizations. David A. Jones, Sr., a co-founder of Humana, Inc., is a CPA.
Because accountants truly understand the “language of business,” opportunities outside traditional accounting careers are widely available.
Our faculty produce scholarly works that provide the business and academic communities with information that enrich learning experiences and help us better understand our financial situations and opportunities. They are active in professional groups such as the American Institute of CPAs, the Kentucky Society of CPAs, the American Accounting Association, the Institute of Management Accountants, and others.
School of Accountancy
College of Business, Suite 235
University of Louisville
Louisville, KY 40292
Phone: (502) 852-5847 Fax: (502) 852-6072