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.

REQUIREMENTS FOR AN ACCOUNTING MINOR

A minimum of 22 hours, including 6 hours at the 300-level. The following is required:

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.