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ACCOUNTING AT EUREKA COLLEGE
The Accounting
major provides students with the pre-professional training that will enable them
to solve tomorrow's complex problems and to be leaders in business and related
fields. Accounting majors have two degree paths from which to choose. Students
may complete (1) a 124-hour degree, which is considered the 4-year private track,
or (2) a 150-hour degree, which is the public track. The 150-hour degree qualifies
students to take the Certified Public Accounting Exam (CPA). Another alternative
path for Accounting majors is to complete the private track and then complete
a Master's Degree.
Beyond this, majors may select from a wide variety
of elective courses in order to receive more specific training or to further develop
skills and expertise. In addition, depending on career goals and interests, the
department has recommended courses offered from other departments to further develop
abilities and knowledge.
REQUIREMENTS FOR A MAJOR IN ACCOUNTING
3-45
hours consisting of the following:
COMPUTER SCIENCE EMPHASIS
Eureka College offers a series of Computer Science courses which can be taken
in conjunction with the Accounting sequence to provide the student with an extremely
useful and marketable degree. The following sequence of Computer Science courses
are suggested to obtain an Accounting major with an emphasis in Computer Science.
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CSC
165 |
Introduction to Programming |
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CSC
225 |
Computer Programming - COBOL |
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CSC
265 |
Introduction to Data Structures |
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CSC
286 |
Programming in Visual Basic |
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CSC
365 |
Object Oriented Programming |
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REQUIREMENTS FOR AN ACCOUNTING MINOR
A minimum of 22 hours, including
6 hours at the 300-level. The following is required:
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ACC
111 |
Principles of Accounting I |
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ACC
112 |
Principles of Accounting II |
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ACC
201 |
Intermediate Accounting I |
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ACC
202 |
Intermediate Accounting II |
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ACC
221 |
Tax Accounting I |
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Plus
an additional 6 hours at the 300 level, in Accounting, Business Administration,
or Economics courses. |
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Total |
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ACCOUNTING COURSES
111
Principles of Accounting I -- 4 hours
Prerequisite: None.
The course emphasizes basic accounting concepts and use of accounting information
in administration of business firms. Key concepts include the preparation of the
income statement and balance sheet using computer spreadsheets. The course will
progress from an introduction to computer spreadsheets, to designing moderately
complex spreadsheets.
112 Principles of Accounting II
-- 3 hours
Prerequisite: ACC 111.
Further exploration of
financial accounting concepts including preparation of the "Statement of
Cash Flows." Also an introduction to measurement and control of costs, activity
based costing, and managerial accounting.
201 Intermediate
Accounting I -- 3 hours
Prerequisite: ACC 112.
Critical
examination of the issues involved in financial reporting to the public by the
business firm. Emphasis on asset valuation, investments and intangibles relating
to income determination and balance sheet presentation.
202
Intermediate Accounting II -- 3 hours
Prerequisite: ACC 201.
Continuation of Intermediate Accounting I. Covers accounting for liabilities,
pensions, and leases. Emphasis on the corporate form of organization and reporting
cash flows and price level changes.
203 Intermediate
Accounting III -- 3 hours (Offered in alternate years.)
Prerequisite:
ACC 202.
Continuation of the study of Financial Accounting. Course objective
is to provide accounting majors with in-depth knowledge in the following areas:
Revenue Recognition, Income taxes - Deferred, Pensions and Post Retirement benefits,
Leases, Accounting Changes and Error Analysis, Statement of Cash Flows, Financial
Statement Analysis, and Full Disclosure in Financial Reporting.
221
Tax Accounting -- 3 hours (Offered in alternate years.)
Recommended
Prerequisite: ACC 112.
Introduction to the federal income tax, particularly
as applicable to an individual but with some reference to partnership and corporate
business enterprise.
222 Tax Accounting II -- 3 hours (Not offered every year..)
Prerequisite: ACC 221.
Continuation of
the study of Federal Income Tax Laws. Course objective is to provide accounting
majors with in-depth knowledge in the following areas: Passive Losses; Property
Transactions with gain, loss, and basis considerations; Alternative Minimum Tax;
Corporations, their organization, capital structure, current operation and liquidation;
S Corporations; Partnerships; Gift and Estate Taxes; and income taxation of Trusts
and Estates.
302 Cost Accounting -- 3 hours (Not offered every year.)
Prerequisite: ACC 112.
Design of historical
cost finding systems and the role of accounting in managerial decision making.
Illustrates application of cost data for decisions on capacity utilization, inventory
planning, capital expenditures, product pricing, and non-routine business decisions.
303
Advanced Accounting -- 3 hours (Offered in alternate years.)
Prerequisite:
ACC 202.
Continuation of Intermediate Accounting topics plus design, installation,
and implementation of systems for planning operations and measuring and reporting
performance. Introduces budgeting, standard costing, contribution reporting, variance
analysis, and transfer pricing.
331W Auditing I --
3 hours (Offered in alternate years.)
Prerequisite: ACC 112 and
MAT 161 or 260.
Principles and procedures of auditing, auditing standards,
internal control, sampling techniques, ethics of the profession, and the auditor's
reports are topics covered in the course. The procedural development to ascertain
the reliability of financial statements is emphasized.
332
Auditing II -- 3 hours (Not offered every year.)
Prerequisite:
ACC 331.
Continuation of the study of Auditing. Course objective is to
provide accounting majors with in-depth knowledge in the following areas: Audit
Sampling and substantive testing; Testing cycle controls and performing substantive
tests on the Revenue Cycle, Acquisition Cycle, Conversion and Payroll Cycle, Financing
Cycle, and Investment Cycle; Auditing Operations and completing the audit; Other
Attestation and Accounting Services; and Internal, Operational, and Compliance
Auditing.
360 Fund Accounting -- 3 hours (Not offered every year.)
Prerequisite or Corequisite: ACC 112.
Principles
and procedures of accounting as applied to financial planning and control of nonprofit
institutions, such as schools, hospitals, and government units.
450
Advanced Professional Accounting Problems -- 4 hours (Not offered every
year.)
Prerequisite: Senior Standing.
Capstone course intended to
expose the student to new material in addition to rigorously reviewing previous
topics. Designed to show the integration between the various accounting fields
and act as a preparation for the Certified Public Accountant (CPA) exam. Course
objective is to include an intensive study of: Auditing; Business Law & Professional
Responsibilities; Taxation, Managerial, Governmental and Not-for-Profit Organizations;
and Financial Accounting & Reporting - Business Enterprises.
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