Accounting: The Language of Business

From Wall Street to Main Street, accounting shapes and informs all aspects of life. The Summer Scholars Accounting course introduces students to fundamental accounting concepts and processes in addition to the important roles that CPAs (certified public accountants) play with every type of organization, from the local flower shop to the multi-national pharmaceutical company. The framework for this innovative course consists of an overview of accounting concepts and techniques, financial statements, and case studies based on current events, such as proposed changes to U.S. tax law and European Union fines on Apple Computer. The course enables students to see how CPAs protect investors, influence public policy, analyze businesses, and advise companies, ranging from start-ups to Fortune 500 companies. Students will engage in interactive exercises that address fundamental accounting techniques, financial statement interpretation, tax planning, and current tax policy issues. Through a mix of class discussions and presentations by accounting professionals, business leaders, and entrepreneurs, the course will also demonstrate the infinite opportunities that accounting majors have in public accounting, for-profit businesses, non-profit organizations, and academia. During the first week, students learn about the accounting profession and explore the basics of financial and tax accounting through exercises, presentations, and cases. Week one concludes with a field trip to Chicago to visit an international accounting/consulting firm and see the breadth of CPA services. During week two, students continue their exposure to accountancy concepts and applications and examine the role of CPAs in non-profit organizations. In addition, students will hear from additional guests who discuss trade-offs in tax policy. The week concludes with small group presentations regarding tax policy issues.