Illinois College - Home Logo
Open Menu


Courses in Accounting

AC 231 Principles of Accounting (4)
Fundamental financial and managerial accounting concepts used in decision making. Emphasis is on operating, investing, and financing activities and planning, controlling, and evaluating performance.

AC 321 Accounting Information Systems (4)
Study of Accounting Information Systems (AIS) internal control, the system development cycle, relational data structure, and e-commerce solutions. Learning application of AIS in the business environment by using an integrated accounting package, building flowcharting skills, and choosing and implementing a computerized accounting system. Also, discussion of Enterprise Resource Planning (ERP) and the valuation of Information Technology (IT) resources. Prerequisite: AC 231.

AC 323 Intermediate Cost Accounting (4)
Use of costs for planning, controlling and decision making with emphasis on standard costs, flexible budgets, cost behavior, direct costing, relevant costs, responsibility accounting and cost analysis for control and motivation. Prerequisite: AC 231.

AC 325 Intermediate Financial Accounting I (4)
In depth study of the accounting process and financial statements preparation. Analysis of balance sheet elements relating to income determination through conceptual discussion and procedural presentation. Prerequisite: AC 231.

AC 326 Intermediate Financial Accounting II (4)
Discusses in depth the traditional financial accounting topics as well as the recent developments in accounting valuation and reporting. Special topics are EPS, accounting for deferred income taxes, leases, pensions, changes/errors preparation of the statement of cash-flows, and financial analysis. Prerequisite: AC 325.

AC 329 Tax Accounting (4)
The federal income tax principles and applications with primary emphasis upon personal income taxes. Prerequisite: AC 231.

AC 407 VITA (2)
Involves intensive study of individual income tax preparation. Actual experience in the preparation of individual income tax forms is afforded under the supervision of faculty and IRS representatives. May be repeated for a maximum of 4 hours.

AC 433 Auditing (4)
A study of the external principles, procedures and techniques used by auditors in verification of the financial statements of the business enterprise. Prerequisite: AC 325.

AC 461, 462 Independent Study in Accounting (1 - 4)

AC 463, 464 Internship in Accounting (1 - 4)
A practical application of theoretical skills in actual job-related situations. Open to Junior and Senior majors. Permission of department chair required.

AC 465, 466 Independent Research in Accounting (1 - 4)

AC 485 Senior Seminar (4)
As an interdisciplinary capstone course, students will analyze and evaluate financial information with respect to profitability, corporate risk management, and proper financial reporting.