This paper presents the results of a study assessing the comparative effectiveness of teaching an undergraduate intermediate accounting course in the online classroom format. Students in a large state university were offered an opportunity to complete the first course in intermediate accounting either online or on-campus. Students were required to complete several objective homework assignments and write an essay on what is means to be a professional. In addition, students were asked to report their progress in achieving seven stated objectives of the course. Students in the online course performed as well as students in the on-campus course. (Contains 5 tables.)