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.
Accounting Course List
AC210. Principles of Accounting
This course is designed to provide students with the ability to understand how financial transactions are systematically captured and reported in financial statements. In addition, students will understand how to use information obtained from the financial statements to improve operational efficiency and profitability. Cannot be used for credit for any major in the Tabor School. (3 credits)
AC230. Introduction to Financial Statements
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. (3 credits)
AC240. Principles of Managerial Accounting
Management accounting that focuses on decision-making concepts applicable to both service and manufacturing companies. The course introduces topics such as operating leverage, cost-volume-profit analysis, relevance, and cost allocation as well as manufacturing cost flow, job-order and process costing. Pre-requisite: AC230 or equivalent. (3 credits)
AC251. Intermediate Accounting I
In-depth study of underlying assumptions and principles used in preparation of the balance sheet, income statement, and retained earnings. Includes a study of revenue recognition and profitability analysis, time value of money concepts, cash and receivables. Pre-requisite: AC230. (3 credits)
AC252. Intermediate Accounting II
Accounting for inventory measurement, property plant and equipment, depreciation/amortization/depletion/impairments, investments, current liabilities and contingencies, bonds, and long-term notes payable. Pre-requisite: AC251. (3 credits)
AC303. Intermediate Accounting III
Accounting for leases, income taxes, pensions and postretirement benefits, shareholders’ equity, share-based compensation, earnings per share, accounting changes, corrections of errors and a further study of the statement of cash flows. Pre-requisite: AC252. (3 credits)
AC331. Individual Income Taxation
A basic understanding of the Internal Revenue Code Provisions that affect individuals, how these code provisions are implemented through the Federal Income Tax Regulations, and some of the reasons behind tax laws. Pre-requisite: AC240 or consent of instructor. (3 credits)
AC332. 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, research methods, problems between partners and partnerships, corporate operating rules, complete and partial liquidations, earnings accumulations, trust and estate operations and taxation. Pre-requisite: AC331 or consent of instructor. (3 credits)
AC411. Advanced Management Accounting
Understanding and using the behavior of costs to provide information for decision-making. Product costing for internal reporting vs. external reporting. Job, process and standard cost systems. Responsibility accounting, performance evaluation and variance analysis. Pre-requisite: AC240. (3 credits)
AC413. Advanced Financial Accounting
Theory, principles and practices relating to more intricate phases of accounting. Study includes partnerships, business combinations and consolidations, foreign exchanges and accounting for governmental units and nonprofit organizations. Pre-requisite: AC302. (3 credits)
AC421. Auditing Principles I
This course is an introduction to auditing and assurance engagement standards of performance and reporting by external, internal, and governmental auditors as well as an introduction to accounting information systems. Topics covered in this course are an introduction to accounting information systems, the role of accountants in business analysis, sales and collections business processes, purchases and payments business processes, conversion business processes, data analytics in accounting, reporting processes, accounting information systems and internal controls, information security and computer fraud, the role of the auditor, professional standards and ethics, the legal liability of CPA’s understanding what is audit evidence and documentation and audit planning and risk assessment and the consideration of internal control in an information technology environment. Pre-requisite: AC303. (3 credits)
AC422. Auditing Principles II
An introduction to auditing and assurance engagement standards of performance and reporting by external, internal, and governmental auditors. Topics covered include the collection, evaluation, and documentation of evidence; and issues of independence. The course includes performance learning activities in auditing. The course stresses the need for ethical conduct. Pre-requisite: AC421. (3 credits)
AC471, 472. Accounting Internship
A cooperative course between the University and selected business establishments to develop further the professional training of accounting majors. Combination of work experience and written reports. Pre-requisite: consent of accounting coordinator. (1-3 credits)
