Accounting
Admissions and Records
- Email: admissions@svcc.edu
- Phone: (815) 835-6273
- Fax: (815) 456-4240
- Visit Admissions to view Hours
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.
Program Contacts at Sauk Valley Community College
- Geoffrey A. Lemay, CPA, MBA, Assistant Professor of Accounting 815-835-6328
Total Hours Required - 62 Hours
Major Field Requirements - 46 Hours
| Course # | Course Title | Hours |
|---|---|---|
| ACC101 | Financial Accounting | 4 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. Prerequisite None4 Semester hoursIllinois Articulation Initiative IAI BUS 903 LectureLab Hours 4 lecweek | ||
| ACC102 | Managerial Accounting | 4 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 hoursIllinois Articulation Initiative IAI BUS 904LectureLab Hours 4 lecweek | ||
| ACC201 | Intermediate Accounting I | 4 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 hoursLectureLab Hours 4 lecweek | ||
| ACC202 | Intermediate Accounting II | 4 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 hoursLectureLab Hours 4 lecweek | ||
| ACC203 | Cost Accounting | 3 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 hours LectureLab Hours 3 lecweek | ||
| ACC204 | Tax Accounting | 3 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 hoursLectureLab Hours 3 lecweek | ||
| ACC205 | Accounting Information Systems | 3 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 entrysales b billingreceivablescash receipts c inventory d purchasingpayablescash disbursements e payroll and f materials planningproduction. 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 hours LectureLab Hours 3 lecweek. | ||
| ACC207 | Acct/Gov & Not-For-Profit Org | 3 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 hoursLectureLab Hours 3 lecweek | ||
| BUS103 | Intro to Business | 3 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.Prerequisite None3 Semester hoursLectureLab Hours 3 lecweek | ||
| BUS222 | The Legal Environment of Bus | 3 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. Prerequisite None3 Semester hoursLectureLab Hours 3 lecweek | ||
| BUS231 | Occupational Seminar I | 1 Hour |
| A seminar designed to complement the students 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 hoursLectureLab Hours 1 lecweek | ||
| BUS235 | Occupational Internship I | 3 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 hoursLectureLab Hours 15 hours internshipweek | ||
| CIS106 | Spreadsheet Software | 3 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 instructor3 Semester hoursLectureLab Hours 2 lec 2 labweek | ||
| CIS109 | Introduction to Computers | 3 Hours |
| This introductory course consists of the study of computer hardware software operating systems 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-Keyboarding3 Semester hoursIllinois Articulation Initiative IAI BUS 902LectureLab Hours 2 lec 2 labweek | ||
| CIS220 | Computer Accounting | 2 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.Prerequisite None. Recommend CIS 109 and ACC 101. 2 Semester hoursLectureLab Hours 2 lec 0 labweek | ||
General Education Requirements - 15 Hours
| Course # | Course Title | Hours |
|---|---|---|
| Communications ( ENG101 required, and one of the following: COM131, ENG103, ENG111) | 6 Hours | |
| Humanities / Fine Arts | 3 Hours | |
| ECO211 | Social Science (ECO211 required) | 3 Hours |
| Mathematics (MAT106 or Higher) | 3 Hours |
SVCC Degree Requirement - 1 Hour
| Course # | Course Title | Hours |
|---|---|---|
| FYE101 | First Year Experience | 1 Hour |
| 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. Prerequisite None1 Semester hoursLectureLab Hours 1 lecweek | ||
Suggested Program
First Semester - 14 Hours
| Course # | Course Title | Hours |
|---|---|---|
| ACC101 | Financial Accounting | 4 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. Prerequisite None4 Semester hoursIllinois Articulation Initiative IAI BUS 903 LectureLab Hours 4 lecweek | ||
| BUS103 | Intro to Business | 3 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.Prerequisite None3 Semester hoursLectureLab Hours 3 lecweek | ||
| CIS109 | Introduction to Computers | 3 Hours |
| This introductory course consists of the study of computer hardware software operating systems 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-Keyboarding3 Semester hoursIllinois Articulation Initiative IAI BUS 902LectureLab Hours 2 lec 2 labweek | ||
| ENG101 | Composition I | 3 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 hoursIllinois Articulation Initiative IAI C1 900LectureLab Hours 3 lecweek | ||
| FYE101 | First Year Experience | 1 Hour |
| 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. Prerequisite None1 Semester hoursLectureLab Hours 1 lecweek | ||
Second Semester - 16 Hours
| Course # | Course Title | Hours |
|---|---|---|
| Mathematics (MAT106 or Higher) | 3 Hours | |
| ACC102 | Managerial Accounting | 4 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 hoursIllinois Articulation Initiative IAI BUS 904LectureLab Hours 4 lecweek | ||
| BUS222 | The Legal Environment of Bus | 3 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. Prerequisite None3 Semester hoursLectureLab Hours 3 lecweek | ||
| CIS106 | Spreadsheet Software | 3 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 instructor3 Semester hoursLectureLab Hours 2 lec 2 labweek | ||
| COM131 | Intro to Oral Communication | 3 Hours |
| The oral communication course combines communication theory with the practice of oral communication skills. The 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.Prerequisite None3 Semester hoursIllinois Articulation Initiative IAI C2 900LectureLab Hours 3 lecweek | ||
| - OR - | ||
| ENG103 | Composition II | 3 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 hoursIllinois Articulation Initiative IAI C1 901RLectureLab Hours 3 lecweek | ||
| - OR - | ||
| ENG111 | Bus/Technical Communication | 3 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 hoursLectureLab Hours 3 lecweek | ||
Third Semester - 16 Hours
| Course # | Course Title | Hours |
|---|---|---|
| Humanities / Fine Arts | 3 Hours | |
| ACC201 | Intermediate Accounting I | 4 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 hoursLectureLab Hours 4 lecweek | ||
| ACC203 | Cost Accounting | 3 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 hours LectureLab Hours 3 lecweek | ||
| ACC205 | Accounting Information Systems | 3 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 entrysales b billingreceivablescash receipts c inventory d purchasingpayablescash disbursements e payroll and f materials planningproduction. 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 hours LectureLab Hours 3 lecweek. | ||
| ECO211 | Principles of Macroeconomics | 3 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.Prerequisite None3 Semester hoursIllinois Articulation Initiative IAI S3 901LectureLab Hours 3lec week | ||
Fourth Semester - 16 Hours
| Course # | Course Title | Hours |
|---|---|---|
| ACC202 | Intermediate Accounting II | 4 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 hoursLectureLab Hours 4 lecweek | ||
| ACC204 | Tax Accounting | 3 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 hoursLectureLab Hours 3 lecweek | ||
| ACC207 | Acct/Gov & Not-For-Profit Org | 3 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 hoursLectureLab Hours 3 lecweek | ||
| BUS231 | Occupational Seminar I | 1 Hour |
| A seminar designed to complement the students 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 hoursLectureLab Hours 1 lecweek | ||
| BUS235 | Occupational Internship I | 3 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 hoursLectureLab Hours 15 hours internshipweek | ||
| CIS220 | Computer Accounting | 2 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.Prerequisite None. Recommend CIS 109 and ACC 101. 2 Semester hoursLectureLab Hours 2 lec 0 labweek | ||