A Bachelor of Science in Accounting prepares students for careers in public accounting, private industry, and government. In keeping with the work of the Accounting Education Change Commission, the program places emphasis on accounting theory and practice as well as the fundamental skills of problem solving, communicating, and critical thinking necessary for long-term success in the field of accounting.
What can I do with a degree in Accounting?
With this degree, students usually pursue work in the following areas:
- Professional services: public accounting, firms at the international, national, regional, and local levels providing auditing, consulting, and tax planning services
- Industry: companies in every sector from consumer products, to technology, banking, and health care
- Government: local, state, and federal agencies including the General Accounting Office, the Securities and Exchange Commission, the Internal Revenue Service, and the Federal Bureau of Investigation
- Education: school districts, universities, and colleges
Coursework for this degree prepare students for employment in any of these areas. Other upper division business courses will be recommended by your advisor based on your career interests.
What will I study?
Accountants develop and interpret financial data required for decision-making by managers, investors, regulators, and other stakeholders. To perform their functions, accountants must work with both numerical information and concepts, and they must be able to function effectively as individuals and in teams.
Interesting classes I might take include:
- Business Creation
- Business Law
- Principles of Microeconomics
- Business Strategy
- Intro to Financial Management
In addition to the business core requirements, accounting majors must complete a minimum of 26 hours of accounting courses including Accounting 301, 312, 331, 332, 411, 413, 422 and IS492 (Accounting Information Systems).
For transfer students who have taken Intermediate Accounting at a community college and who wish to receive transfer credit for AC301 and AC212, a determination will be made by the Accounting Program Coordinator.
Certified Public Accountant Certification
Accounting students are strongly encouraged to pursue the designation of Certified Public Accountant (CPA). Students wishing to pursue the CPA certification in the state of Illinois must complete 150 semester hours of college credit prior to sitting for the certification exam. To meet this requirement, students will have a range of options available to them.
These options may include:
- Completing the Fifth Year Program, resulting in a bachelor's degree and an MBA in five years
- Completing a second major, such as Information Systems or Finance
- Taking two minors, such as one in Communications and one in IT
- Pursuing a graduate degree following graduation from Millikin
Departmental Course Offerings
Courses change each semester, so this list should not be considered a commitment to these individual topics. However, this does represent a list of many of our current and popular courses. The list is provided so that you can begin to imagine your academic career at Millikin in this major.
|Intermediate Accounting I||In-depth study underlying assumptions and principles used in preparation of basic financial statements. Analysis of elements of the balance sheet. Problems of valuation and revenue recognition. Presentation of latest FASB pronouncements. Pre-requisite: Accounting 230. (AC250)|
|Intermediate Accounting II||Intermediate Accounting II focuses on the needs of stakeholders
external to the organization. This course serves as an introduction to the
language of business and to the importance of accounting information in business
decision-making. It is designed to serve both business and non-business majors.
Prerequisite: AC301 (AC302)
|Management Accounting||Comprehensive expansion of product cost accounting theory and practice. Product costing for internal reporting vs. external reporting. Job, process and standard cost systems. Responsibility accounting, performance evaluation and variance analysis. Pre-requisite: Accounting 250. (AC402)|
|Government and Nonprofit Accounting||This course introduces students to accounting used by governmental and nonprofit entities. It focuses on financial planning and budgeting, cash management and control, fund accounting, cash and accrual accounting, and presentation of financial data. Pre-requisite: Accounting 250. (AC410)|
|Not-for-Profit Accounting||This course is a combination of two modules, a two credit module in not-for-profit accounting and a one
credit module in government accounting. This course is designed to accommodate both the accounting
major and non-major. For the accounting major, both modules are a required part of the curriculum. For
the non-major, the government accounting module is optional.
Not-for-profit Accounting will prepare the student to understand and evaluate not-for-profit organizations
|Entity Taxation||Tax research methods and survey of federal income tax law and procedures primarily as they pertain to partnerships, corporations, and trusts and estates. Topics include but are not limited to computerized and manual tax services, research methods, problems between partners and partnerships, corporate operating rules, complete and partial liquidations, earnings accumulations, trust and estate operations and taxation. Pre-requisite: Accounting 331 or consent of instructor. (AC433)|
|Accounting Seminar||A capstone course. Impact on financial reporting of the Securities and Exchange Commission and other regulatory agencies. Current pronouncements of FASB and AICPA committees. Overview of accounting process and ethics through case studies. Research paper. Pre-requisites: senior major and consent of instructor. (AC444)|
Sample Plan of Study
This plan of study shows the types of courses you might take as a student in this major. This is presented simply to provide a realistic preview of your coursework. Once you enroll at Millikin, a faculty advisor will guide you through the process of selecting courses that will help you graduate on-time from this program. While this sample demonstrates a plan of study that covers eight semesters, each student’s academic path is unique and your timeline may look different.
|Semester 1||Semester 2|
|University Seminar||Critical Writing, Reading and Research II|
|Critical Writing, Reading and Research I||Foundations of Information Systems|
|Business Creation||Business Statistics|
|Team Dynamics||Principles of Macro/Microeconomics|
|Spreadsheet Applications||Introduction to Financial Statements|
|Semester 3||Semester 4|
|Principles of Macro/Microeconomics||Principles of Marketing|
|Create, Lead, and Own YOU||Database Fundamentals|
|Managerial Accounting||Written Business Communication|
|Business Conversations||Fine Arts|
|Semester 5||Semester 6|
|People and Performance||International Business|
|Business Law||Business Ethics|
|Project Management Practicum||Personal Finance|
|Introduction to Financial Management||Elective|
|Intermediate Accounting I||Intermediate Accounting II|
|Personal Income Taxation||Entity Taxation|
|Semester 7||Semester 8|
|Operations Management||Business Strategy|
|Natural Science||Accounting Internship|
|Advanced Managerial Accounting||Principles of Auditing|
|Advanced Financial Accounting||Not-for-profit Government Accounting|