Download PDF

Accounting - Associate in Applied Science (021)

This program prepares the student for entry-level positions or to be a junior member of the accounting staff of a private business, industrial enterprise, public accounting firm, or governmental agency. Emphasis is on the financial record keeping aspects of accounting and the preparation and analysis of reports as a basis for managerial decisions.

Work and Employment

Accountants generally work in one of four major areas. Public accountants are employed primarily in auditing, taxation, or consulting businesses. Management accountants handle the financial records (such as taxes, budgeting, costs and investments) for a company. Government accountants maintain and examine the records of government agencies and audit private businesses which are subject to government regulations. Internal auditors review their company's operations. 

Special Considerations

Students who are interested in a bachelor's degree in accounting or in pursuing a CPA should follow the guidelines for the associate of arts business transfer program described in this catalog.

Accountants usually have the following skills and aptitudes: work carefully and accurately, able to analyze and interpret figures, able to work with numbers, follow directions well, dependable and honest, neat and orderly, display mathematical aptitude.

Follow this link for career information.

Program Contacts at Sauk Valley Community College

• Geoffrey A. Lemay, CPA, Assistant Professor of Accounting 815-835-6328

Total Hours Required - 62 Hours

Major Field Requirements - 46 Hours

• ACC101 - Financial Accounting ( 4 Semester Hours)

  This course presents accounting as an information system that produces summary financial statements, primarily for users external to a business enterprise organized as a corporation. Students study the forms of business organization and the common transactions entered into by businesses. The emphasis is on understanding and applying basic accounting principles and other concepts that guide the reporting of the effect of transactions and other economic events on the financial condition and operating results of a corporation. The procedures of how to analyze and interpret historical financial statements, as well, and the limitations of using these in making forward-looking business decisions is included. The primary content emphasis will be accounting for current assets and liabilities, long-term assets and liabilities, corporations, cash flow statements, and financial statement analyses. 4 Semester hour(s) Illinois Articulation Initiative (IAI): BUS 903 Lecture/Lab Hours 4 lec/week

• ACC102 - Managerial Accounting ( 4 Semester Hours)

  This course presents accounting as a system of producing information for use in internally managing a business. The course emphasizes the identification, accumulation, and interpretation of information for planning, controlling, and evaluating the performance of the separate components of a business. Included is the identification and measurement of the costs of producing goods or services and how to analyze and control these costs. Decision models commonly used in making specific short-term and long-term business decisions also are included. Prerequisite: ACC 101 4 Semester hour(s) Illinois Articulation Initiative (IAI): BUS 904 Lecture/Lab Hours 4 lec/week

• ACC201 - Intermediate Accounting I ( 4 Semester Hours)

  This course provides an in-depth analysis of the theory, concepts, and procedures underlying the preparation of external financial accounting statements and reports for corporate organizations. Accounting principles and concepts are analyzed and developed from a theoretical, conceptual, and historical environment and are then applied to specific business, transaction, and decision situations. Topical coverage includes: review of the financial accounting process; statements of income, retained earnings, cash flows, and balance sheet; time value of money concepts; cash and receivables; valuation of inventories; acquisition and disposition of property, plant, and equipment: depreciation and depletion; and intangible assets. Prerequisite: ACC 102 4 Semester hour(s) Lecture/Lab Hours 4 lec/week

• ACC202 - Intermediate Accounting II ( 4 Semester Hours)

  This course (a continuation of Intermediate Accounting I) provides an in-depth analysis of the theory, concepts, and procedures underlying the preparation of external financial statements and reports for corporate organizations. Accounting principles and concepts are analyzed, developed, and then applied to specific business decision situations. A thorough examination of long-term liabilities, stockholders equity, accounting changes, financial analysis and financial reporting through both manual and automated accounting systems is developed. Prerequisite: ACC 201 4 Semester hour(s) Lecture/Lab Hours 4 lec/week

• ACC203 - Cost Accounting ( 3 Semester Hours)

  A study of managerial and cost accounting concepts in planning, control and decision-making. Topics include product costing, cost drivers, cost-volume-profit analysis, activity based costing, budgets, standard costs, just-in-time applications and capital budgeting issues. Prerequisite: ACC 102 3 Semester hour(s) Lecture/Lab Hours 3 lec/week

• ACC204 - Tax Accounting ( 3 Semester Hours)

  This course provides an introductory study of the current federal revenue acts as they relate primarily to individual income tax theory and practice. Topical coverage includes the individual income tax return, gross income inclusions and exclusions, business expenses and retirement plans, self-employed and employee expenses, itemized and other deductions, credits and special taxes, accounting periods, accounting methods, depreciation, capital gains and losses, and payroll taxes. In addition to individual income tax theory and practice, an overview of partnership and taxation, corporate taxation, and tax administration and planning is provided. Prerequisite: ACC 101 3 Semester hour(s) Lecture/Lab Hours 3 lec/week

• ACC205 - Accounting Information Systems ( 3 Semester Hours)

  Accounting Information Systems examines the relationships and distinctions between accounting information systems (AIS) and the total management information system (MIS) environment, with major emphasis on computerized AIS. The AIS course will explore, in detail, several typical AIS application sub-systems, such as: (a) order entry/sales, (b) billing/receivables/cash receipts, (c) inventory, (d) purchasing/payables/cash disbursements, (e) payroll, and (f) materials planning/production. Major themes throughout the AIS course will focus upon: (a) oral and written communication, (b) objectives and procedures of internal control, & typical business documents and reports, (d) proper systems documentation through charting devices, and (e) systems analysis and design methodologies. Additional specific AIS themes to be explored include: (a) The impact of emerging information technologies on the AIS and related systems; (b) The implications of business process re-engineering initiatives on AIS design, implementation, and management; and (c) Preparing to be, as an accountant, an effective user, evaluator, and developer of accounting information systems. Prerequisite: ACC 102 3 Semester hour(s) Lecture/Lab Hours 3 lec/week.

• ACC207 - Acct/Gov & Not-For-Profit Org ( 3 Semester Hours)

  This course covers the basic accounting concepts and issues associated with non-profit and governmental organizations. The primary focus is on municipal accounting applications, funds, governmental activities, and business-type activities. Prerequisite: ACC 102 3 Semester hour(s) Lecture/Lab Hours 3 lec/week

• BUS103 - Intro to Business ( 3 Semester Hours)

  Introduction to Business provides a foundation of knowledge in business including an understanding of the basic processes of marketing, finance, production, accounting, information technology, human resource management and the relationships of business to our society and government and the global economy. 3 Semester hour(s) Lecture/Lab Hours: 3 lec/week

• BUS222 - The Legal Environment of Bus ( 3 Semester Hours)

  The legal environment law course is an introductory course to law and the judicial system. Topics covered in the course include federal law, securities, employment, labor relations, social environment laws, product liability, and consumer protection. 3 Semester hour(s) Lecture/Lab Hours: 3 lec/week

• BUS231 - Occupational Seminar I ( 1 Semester Hours)

  A seminar designed to complement the student's initial placement in an approved working situation. Instructor approval required for enrollment. Prerequisite: Completion of 12 hours in major field courses. Concurrent enrollment in BUS 235. 1 Semester hour(s) Lecture/Lab Hours: 1 lec/week

• BUS235 - Occupational Internship I ( 3 Semester Hours)

  An occupational experience utilizing on-the-job training. All students are required to spend a minimum of 15 hours each week on the job. Instructor approval required for enrollment Prerequisite: Concurrent enrollment in BUS 231. 3 Semester hour(s) Lecture/Lab Hours: 15 hours internship/week

• CIS106 - Spreadsheet Software ( 3 Semester Hours)

  This introductory course is designed to acquaint the student with the process of using personal computers to solve spreadsheet problems. In addition to providing the student with a working knowledge of the basic and advanced capabilities of spreadsheet software, the student will be exposed to the use of problem-solving techniques for situations in which spreadsheet solutions are appropriate. Prerequisite: CIS 109 or consent of instructor 3 Semester hour(s) Lecture/Lab Hours: 2 lec, 2 lab/week

• CIS109 - Introduction to Computers ( 3 Semester Hours)

  This introductory course consists of the study of computer hardware, software, operating systems and communications, networking, Internet, systems and program development life cycles and their role in business decision making. The use of Internet, multimedia, security, and ethics will be emphasized throughout the course. In addition, laboratory experience will be gained with a survey of Microsoft Windows and business computer software applications programs in word processing, electronic spreadsheets, database management, presentation graphics, and Internet. Prerequisite:None. Students having no experience with computers are encouraged to first take CIS 100-Keyboarding 3 Semester hour(s) Illinois Articulation Initiative (IAI): BUS 902 Lecture/Lab Hours: 2 lec, 2 lab/week

• CIS220 - Computer Accounting ( 2 Semester Hours)

  This course covers small business accounting using computer software. Topics include creating a chart of accounts, recording customer and vendor transactions, processing payroll, and printing reports. In addition, setting up a new company is covered as well as advanced topics such as exporting to spreadsheet software and using the computer software audit trail. Prerequisite: None. Recommend CIS 100 or CIS 109 and ACC 101. 2 Semester hour(s) Lecture/Lab Hours: 2 lec, 0 lab/week

General Education Requirements - 15 Hours

• Communications ENG 101 (required and one of the following: COM 131, ENG 103 or 111 6 Semester hour(s)
• Humanities/Fine Arts 3 Semester hour(s)
• Social Science (ECO 211 required) 3 Semester hour(s)
• Mathematics (MAT 106 or higher) 3 Semester hour(s)

SVCC Requirement - 1 Hours

• FYE101 - First Year Experience ( 1 Semester Hours)

  The focus of this course is how to be successful in college. Study skills, goal setting, academic planning, time and money management, and information research skills are among the core topics included in this course. Within a supportive environment, students will share their college experiences and develop connections with fellow students and SVCC staff. 1 Semester hour(s) Lecture/Lab Hours: 1 lec/week

Suggested Program

First Semester - 14 Hours

• ACC101 - Financial Accounting ( 4 Semester Hours)

  This course presents accounting as an information system that produces summary financial statements, primarily for users external to a business enterprise organized as a corporation. Students study the forms of business organization and the common transactions entered into by businesses. The emphasis is on understanding and applying basic accounting principles and other concepts that guide the reporting of the effect of transactions and other economic events on the financial condition and operating results of a corporation. The procedures of how to analyze and interpret historical financial statements, as well, and the limitations of using these in making forward-looking business decisions is included. The primary content emphasis will be accounting for current assets and liabilities, long-term assets and liabilities, corporations, cash flow statements, and financial statement analyses. 4 Semester hour(s) Illinois Articulation Initiative (IAI): BUS 903 Lecture/Lab Hours 4 lec/week

• BUS103 - Intro to Business ( 3 Semester Hours)

  Introduction to Business provides a foundation of knowledge in business including an understanding of the basic processes of marketing, finance, production, accounting, information technology, human resource management and the relationships of business to our society and government and the global economy. 3 Semester hour(s) Lecture/Lab Hours: 3 lec/week

• CIS109 - Introduction to Computers ( 3 Semester Hours)

  This introductory course consists of the study of computer hardware, software, operating systems and communications, networking, Internet, systems and program development life cycles and their role in business decision making. The use of Internet, multimedia, security, and ethics will be emphasized throughout the course. In addition, laboratory experience will be gained with a survey of Microsoft Windows and business computer software applications programs in word processing, electronic spreadsheets, database management, presentation graphics, and Internet. Prerequisite:None. Students having no experience with computers are encouraged to first take CIS 100-Keyboarding 3 Semester hour(s) Illinois Articulation Initiative (IAI): BUS 902 Lecture/Lab Hours: 2 lec, 2 lab/week

• ENG101 - Composition I ( 3 Semester Hours)

  This course (1) develops awareness of the writing process; (2) provides inventional, organizational, and editorial strategies; (3) stresses the variety of uses for writing; and (4) emphasizes critical skills in reading, thinking, and writing. Prerequisite: Required placement score on approved English placement test, high school unweighted GPA of 3.0 or higher, or a grade of C or higher in ELA 099. 3 Semester hour(s) Illinois Articulation Initiative (IAI): C1 900 Lecture/Lab Hours: 3 lec/week

• FYE101 - First Year Experience ( 1 Semester Hours)

  The focus of this course is how to be successful in college. Study skills, goal setting, academic planning, time and money management, and information research skills are among the core topics included in this course. Within a supportive environment, students will share their college experiences and develop connections with fellow students and SVCC staff. 1 Semester hour(s) Lecture/Lab Hours: 1 lec/week

Second Semester - 16 Hours

• Mathematics (MAT 106 or higher) 3 Semester hour(s)

• ACC102 - Managerial Accounting ( 4 Semester Hours)

  This course presents accounting as a system of producing information for use in internally managing a business. The course emphasizes the identification, accumulation, and interpretation of information for planning, controlling, and evaluating the performance of the separate components of a business. Included is the identification and measurement of the costs of producing goods or services and how to analyze and control these costs. Decision models commonly used in making specific short-term and long-term business decisions also are included. Prerequisite: ACC 101 4 Semester hour(s) Illinois Articulation Initiative (IAI): BUS 904 Lecture/Lab Hours 4 lec/week

• BUS222 - The Legal Environment of Bus ( 3 Semester Hours)

  The legal environment law course is an introductory course to law and the judicial system. Topics covered in the course include federal law, securities, employment, labor relations, social environment laws, product liability, and consumer protection. 3 Semester hour(s) Lecture/Lab Hours: 3 lec/week

• CIS106 - Spreadsheet Software ( 3 Semester Hours)

  This introductory course is designed to acquaint the student with the process of using personal computers to solve spreadsheet problems. In addition to providing the student with a working knowledge of the basic and advanced capabilities of spreadsheet software, the student will be exposed to the use of problem-solving techniques for situations in which spreadsheet solutions are appropriate. Prerequisite: CIS 109 or consent of instructor 3 Semester hour(s) Lecture/Lab Hours: 2 lec, 2 lab/week

• COM131 - Intro to Oral Communication ( 3 Semester Hours)

  This course combines communication theory with the practice of oral communication skills. This course: (1) develops awareness of the communication process; (2) provides inventional, organizational, and expressive strategies; (3) promotes understanding of and adaptation to a variety of communication contexts; and (4) emphasizes critical skills in listening, reading, thinking, and speaking. 3 Semester hour(s) Illinois Articulation Initiative (IAI): C2 900 Lecture/Lab Hours: 3 lec/week

  OR

  ENG103 - Composition II ( 3 Semester Hours)

  An advanced course in essay writing with emphasis on formal research, ENG 103 serves to develop a proficiency in the collection and selection of data as applied to the completion of a formal research paper. In addition, students receive instruction in logic and reasoning, including the fundamentals of argumentative and persuasive writing. Prerequisite: A grade of C or higher in ENG 101 or its equivalent or consent of instructor. 3 Semester hour(s) Illinois Articulation Initiative (IAI): C1 901R Lecture/Lab Hours: 3 lec/week

  OR

  ENG111 - Bus/Technical Communication ( 3 Semester Hours)

  Provides information on principles of written and oral communication specifically applied to business and technical fields. Assignments are designed to develop skill and practice in the use of these principles and include the writing of memoranda, business letters, instructions, informal reports and formal reports. Students are encouraged to tailor assignments to the specific careers they are pursuing. (Not applicable for humanities requirement.) Prerequisite: ENG 101 with a grade of C or higher. Because of emphasis on graphics and computer formatting, students are advised to complete CIS 109 or IND 105 or to have equivalent word processing skills. 3 Semester hour(s) Lecture/Lab Hours: 3 lec/week
   

Third Semester - 16 Hours

• Humanities/Fine Arts 3 Semester Hour(s)

• ACC201 - Intermediate Accounting I ( 4 Semester Hours)

  This course provides an in-depth analysis of the theory, concepts, and procedures underlying the preparation of external financial accounting statements and reports for corporate organizations. Accounting principles and concepts are analyzed and developed from a theoretical, conceptual, and historical environment and are then applied to specific business, transaction, and decision situations. Topical coverage includes: review of the financial accounting process; statements of income, retained earnings, cash flows, and balance sheet; time value of money concepts; cash and receivables; valuation of inventories; acquisition and disposition of property, plant, and equipment: depreciation and depletion; and intangible assets. Prerequisite: ACC 102 4 Semester hour(s) Lecture/Lab Hours 4 lec/week

• ACC203 - Cost Accounting ( 3 Semester Hours)

  A study of managerial and cost accounting concepts in planning, control and decision-making. Topics include product costing, cost drivers, cost-volume-profit analysis, activity based costing, budgets, standard costs, just-in-time applications and capital budgeting issues. Prerequisite: ACC 102 3 Semester hour(s) Lecture/Lab Hours 3 lec/week

• ACC205 - Accounting Information Systems ( 3 Semester Hours)

  Accounting Information Systems examines the relationships and distinctions between accounting information systems (AIS) and the total management information system (MIS) environment, with major emphasis on computerized AIS. The AIS course will explore, in detail, several typical AIS application sub-systems, such as: (a) order entry/sales, (b) billing/receivables/cash receipts, (c) inventory, (d) purchasing/payables/cash disbursements, (e) payroll, and (f) materials planning/production. Major themes throughout the AIS course will focus upon: (a) oral and written communication, (b) objectives and procedures of internal control, & typical business documents and reports, (d) proper systems documentation through charting devices, and (e) systems analysis and design methodologies. Additional specific AIS themes to be explored include: (a) The impact of emerging information technologies on the AIS and related systems; (b) The implications of business process re-engineering initiatives on AIS design, implementation, and management; and (c) Preparing to be, as an accountant, an effective user, evaluator, and developer of accounting information systems. Prerequisite: ACC 102 3 Semester hour(s) Lecture/Lab Hours 3 lec/week.

• ECO211 - Principles of Macroeconomics ( 3 Semester Hours)

  A survey of macro-economic theory with emphasis on resource allocation in a mixed-enterprise economy. Concentration is on the operation of the market mechanism, the role of government and labor, international trade, national income determination and accounting, money and banking, monetary and fiscal policy, and macroeconomic fluctuations. 3 Semester hour(s) Illinois Articulation Initiative (IAI): S3 901 Lecture/Lab Hours: 3/lec week

Fourth Semester - 16 Hours

• ACC202 - Intermediate Accounting II ( 4 Semester Hours)

  This course (a continuation of Intermediate Accounting I) provides an in-depth analysis of the theory, concepts, and procedures underlying the preparation of external financial statements and reports for corporate organizations. Accounting principles and concepts are analyzed, developed, and then applied to specific business decision situations. A thorough examination of long-term liabilities, stockholders equity, accounting changes, financial analysis and financial reporting through both manual and automated accounting systems is developed. Prerequisite: ACC 201 4 Semester hour(s) Lecture/Lab Hours 4 lec/week

• ACC204 - Tax Accounting ( 3 Semester Hours)

  This course provides an introductory study of the current federal revenue acts as they relate primarily to individual income tax theory and practice. Topical coverage includes the individual income tax return, gross income inclusions and exclusions, business expenses and retirement plans, self-employed and employee expenses, itemized and other deductions, credits and special taxes, accounting periods, accounting methods, depreciation, capital gains and losses, and payroll taxes. In addition to individual income tax theory and practice, an overview of partnership and taxation, corporate taxation, and tax administration and planning is provided. Prerequisite: ACC 101 3 Semester hour(s) Lecture/Lab Hours 3 lec/week

• ACC207 - Acct/Gov & Not-For-Profit Org ( 3 Semester Hours)

  This course covers the basic accounting concepts and issues associated with non-profit and governmental organizations. The primary focus is on municipal accounting applications, funds, governmental activities, and business-type activities. Prerequisite: ACC 102 3 Semester hour(s) Lecture/Lab Hours 3 lec/week

• BUS231 - Occupational Seminar I ( 1 Semester Hours)

  A seminar designed to complement the student's initial placement in an approved working situation. Instructor approval required for enrollment. Prerequisite: Completion of 12 hours in major field courses. Concurrent enrollment in BUS 235. 1 Semester hour(s) Lecture/Lab Hours: 1 lec/week

• BUS235 - Occupational Internship I ( 3 Semester Hours)

  An occupational experience utilizing on-the-job training. All students are required to spend a minimum of 15 hours each week on the job. Instructor approval required for enrollment Prerequisite: Concurrent enrollment in BUS 231. 3 Semester hour(s) Lecture/Lab Hours: 15 hours internship/week

• CIS220 - Computer Accounting ( 2 Semester Hours)

  This course covers small business accounting using computer software. Topics include creating a chart of accounts, recording customer and vendor transactions, processing payroll, and printing reports. In addition, setting up a new company is covered as well as advanced topics such as exporting to spreadsheet software and using the computer software audit trail. Prerequisite: None. Recommend CIS 100 or CIS 109 and ACC 101. 2 Semester hour(s) Lecture/Lab Hours: 2 lec, 0 lab/week