Christopher K. Dussold, Ph.D., C.F.A., Assistant Professor of Accounting
and Economics/Finance;
ckdussold@mckendree.edu; (618) 537-6988; Piper Academic Center 107

Terese Kasson, C.P.A., M.S.B.A., Instructor of Accounting;
mtkasson@mckendree.edu; (618) 537-6893; Piper Academic Center 104

Sandra S. Lang, Ph.D., C.P.A., C.F.E., Assistant Professor of Accounting;
Chair, Division of Business;
sslang@mckendree.edu; (618) 537-6892; Piper Academic Center 102

Because the accountant plays a key role in management decisions, the accounting
field is one of the fastest growing in education and business. The accounting program
is designed to prepare the student for a professional career in industrial, public, or government
accounting.

Accounting students are instructed in using the accounting model and developing
the balance sheet, the income statement, the statement of changes in owners’ equity,
and the cash flow statement. This basis will enable students to make decisions about the
presentation of financial data, the analysis of managerial and cost data, auditing and the
reliability of data, and the preparation of personal and simple business tax returns.
To be effective in these activities, students will develop their oral and written communication
skills, their critical thinking skills, and their quantitative skills.

Students who plan to sit for the CPA examination are required to have 150 credit
hours. This is 22 credit hours beyond McKendree’s graduation requirements. Three of
these 22 hours must be in a non-accounting business elective. The other 19 hours can
be in any classes of the student’s choosing. Students taking the additional credits at
McKendree have the option of completing a second major, beginning the MBA
Program, or taking relevant courses.

To receive a Bachelor of Business Administration degree in Accounting, the student
must successfully complete the business core and the major requirements listed below.
The student must complete all work applied to the major with a minimum cumulative
grade point average of 2.25. Any business course outside of the business core may be
applied toward the completion of requirements for only one business major or minor.
The Pass/C-/D/Fail option may not be chosen for a course fulfilling a major or minor
requirement.

ACCOUNTING MAJOR: 63 crs.

Business core requirements (39 crs.)
ACC 261 PRINCIPLES OF ACCOUNTING I (4)
ACC 262 PRINCIPLES OF ACCOUNTING II (4)
ECO 211 PRINCIPLES OF MICROECONOMICS (3)
ECO 212 PRINCIPLES OF MACROECONOMICS (3)
BUS 303 BUSINESS LAW I (3)
or
BUS 304 BUSINESS LAW II (3)
FIN 308 PRINCIPLES OF BUSINESS FINANCE (3)
BUS 310 QUANTITATIVE ANALYSIS FOR BUSINESS DECISIONS (3)
MTH 310 STATISTICS (4)
MGT 204 PRINCIPLES OF MANAGEMENT (3)
MKT 205 PRINCIPLES OF MARKETING (3)
BUS 410 MANAGEMENT INFORMATION SYSTEMS (3)
or
ACC 321 ACCOUNTING INFORMATION SYSTEMS (3)
MGT450 BUSINESS STRATEGY AND POLICY (3)

Accounting Major Requirements 24 crs.
ACC 301 INTERMEDIATE ACCOUNTING I (3)
ACC 302 INTERMEDIATE ACCOUNTING II (3)
ACC 303 COST ACCOUNTING I (3)
ACC 304 COST ACCOUNTING II (3)
ACC 341 INTRODUCTION TO AUDITING (3)
ACC 352 FEDERAL INCOME TAX (3)
ACC 401 ADVANCED ACCOUNTING (3)
ACC 431 ACCOUNTING THEORY (3)

ACCOUNTING MINOR: 23 crs.
The minor in Accounting is available to students in any major. To receive a minor, the
student must complete the required courses listed below and a minimum of six credit
hours of accounting electives at the 300-400 level. The student must complete work
applied to the minor with a minimum of a 2.25 cumulative grade point average.

ACC 261 PRINCIPLES OF ACCOUNTING I (4)
ACC 262 PRINCIPLES OF ACCOUNTING II (4)
ACC 301 INTERMEDIATE ACCOUNTING I (3)
ACC 303 COST ACCOUNTING I (3)
ACC 304 COST ACCOUNTING II (3)

Plus at least six hours in additional 300/400 level accounting electives (6)

ACC 261 PRINCIPLES OF ACCOUNTING I (4)
An introductory course emphasizing financial accounting principles and concepts. Areas studied include
information processing and accounting for assets, liabilities, revenue, expenses, and owner’s equity.
Annually, Fall and as needed.

ACC 262 PRINCIPLES OF ACCOUNTING II (4)
A continuation of Accounting I. Topics covered include bonds, investments, corporate equity, cash flow,
and analysis of statements. The course also includes an introduction to the managerial accounting topics of budgets, cost systems, product costing, cost-volume-profit analysis, and performance evaluation.
Prerequisite: ACC 261.
Annually, Spring.

ACC 301 INTERMEDIATE ACCOUNTING I (3)
An in-depth expansion of fundamental accounting processes and an introduction to accounting theory
followed by an analysis of all current accounts and long term assets excluding investments. Cash, temporary investments, receivables, inventories, current liability accounts, plant assets and intangibles are studied in detail.
Prerequisite: ACC 262.
Annually, Fall.

ACC 302 INTERMEDIATE ACCOUNTING II (3)
Accounting for long term debt, stockholders equity, earnings per share, investments, pensions, leases,
income taxes, accounting changes, financial reporting under changing prices, as well as preparation of the statement of cash flows and the statement of changes in equity.
Prerequisite: ACC 301.
Annually, Spring.

ACC 303 COST ACCOUNTING I (3)
Fundamental principles and practices developed in accounting for costs of production. Types of cost
systems in current use for planning and controlling business operations, cost-volume-profit analysis,
budgets, standards, and variance analysis are emphasized.
Prerequisite: ACC 262.
Annually, Fall.

ACC 304 COST ACCOUNTING II (3)
A study of special concerns of the management accountant with emphasis on internal control, the
performance evaluation and reporting process and plan revisions. The controller’s role in budget preparation, cost analysis and performance measurement is stressed. Problems and authentic case studies are used to complement textbook assignments.
Prerequisite: ACC 303.
Annually, Spring.

ACC 321 ACCOUNTING INFORMATION SYSTEMS (3)
Provides a conceptual foundation in accounting systems and control. Emphasis on business process,
using accounting applications and information technology. Topics include transaction cycles, use of AIS
applications, internal control, and information technology. Hands-on experience in the creation, modifi-
cation and utilization of electronic spreadsheets and accounting system software.
Prerequisites:ACC 262 and either CSI 102, 120 or 121.
As needed.

ACC 341 INTRODUCTION TO AUDITING (3)
Principles, procedures and techniques used by independent certified accountants and internal auditors in analysis and verification of accounting records and financial statements, financial and administrative
internal controls, working papers, audit reports, auditing standards and professional ethics. Prerequisite: ACC 302.
Annually, Spring.

ACC 352 FEDERAL INCOME TAX (3)
An overview of federal income tax for both individuals and businesses. Course covers the calculation of
taxable income for individuals, proprietorships, partnerships, and corporations. Distinctions between
ordinary income and capital gains and between deductible and nondeductible expenses are emphasized.
Prerequisite: ACC 262.
Annually, Fall.

ACC 380-389 TOPICS IN ACCOUNTING (3)
As needed.

ACC 401 ADVANCED ACCOUNTING (3)
Theory and problems involved in preparation and interpretation of consolidated statements and may
include additional topics such as trusts, estates, and partnerships. Also included are segmental and interim financial reports and accounting for multinational firms and foreign transactions.
Prerequisite: ACC 302.
Annually, Fall.

ACC 431 ACCOUNTING THEORY (W) (3)
A study of the evolution of accounting theory emphasizing the work of the Financial Accounting
Standards Board. The influence of government taxing and regulatory bodies on accounting theory and
practice is considered. The course also includes current developments in accounting.
Prerequisite: ACC 302.
Annually, Spring.

ACC 440A SEMINAR IN PROFESSIONAL EXAMINATIONS (1)
This seminar investigates the professional designations for accounting professionals and their related
examinations. The requirements to earn these designations are discussed as are the professional expectations related to each.
Prerequisite: ACC 262.
As needed.

ACC 440B SEMINAR IN GOVERNMENTAL ACCOUNTING (1)
This course is designed to present an overview of the unique accounting and financial reporting principles that have evolved for government organizations.
Prerequisite: ACC 262.
As needed.

ACC 440C SEMINAR IN FRAUD INVESTIGATION (1)
This seminar is designed to establish a classification system to explain fraud schemes used by employees, owners, managers, and executives to defraud their companies. How to spot “red flags” of fraud, and develop and implement effective preventative measures are major topics of discussion. Prerequisite: ACC 262.
As needed.

ACC 440D SEMINAR IN FINANCIAL STATEMENT ANALYSIS (1)
This course looks at how to calculate the various financial statement analyses available and how to apply them to informed, directed decision-making.
Prerequisite: ACC 262.
As needed.

ACC 440E SEMINAR IN ANNUAL REPORT ANALYSIS (1)
This course provides an overview of the basic tools, methods and techniques used in the interpretation
of annual reports of publicly held corporations. The reporting differences among industries, including
manufacturing, retailing, service firms, regulated and non-regulated industries are examined.
Prerequisite: ACC 262.
As needed.

ACC 440F SEMINAR IN ACCOUNTING FOR NOT-FOR-PROFIT ORGANIZATIONS (1)
This course provides an overview of the accounting and reporting requirements for colleges and universities, hospitals, healthcare organizations and other similar entities.
Prerequisite: ACC 262.
As needed.

ACC 440G SEMINAR IN BALANCED SCORECARD (1)
This course explores techniques for using nonfinancial as well as financial performance measures as an integrated means of supporting the organization’s overall strategies. Nonfinancial performance is evaluated from four perspectives: financial, customer satisfaction, internal processes, and learning and growth.
Prerequisite: ACC 262.
As needed.

ACC 440H SEMINAR IN BUDGET PLANNING AND CONTROL (1)
This seminar studies how budgets can be used as a tool for planning and for control. Other topics considered include management compensation as it relates to the budget and participatory and authoritative budgeting processes.
Prerequisite: ACC 262.
As needed.

ACC 440I SEMINAR IN ACCOUNTING FOR PARTNERSHIPS (1)
This seminar examines the characteristics of general partnerships, limited partnerships, and joint ventures. The drawing and capital accounts are explained as are various methods of allocating partnership net income.
Prerequisite: ACC 262.
As needed.

ACC 440J CASES IN COST ACCOUNTING (2)
This course focuses specific attention on problem solving in the business context through cases depicting a variety of business situations. Techniques learned in prior cost accounting classes are applied to management issues requiring students to go “beyond the numbers” in their analyses. Prerequisite: ACC 262.
As needed.

ACC 470 INTERNSHIP IN ACCOUNTING (3-8)
ACC 480 INDEPENDENT STUDY IN ACCOUNTING (1-4)
ACC 490 SEMINAR IN ACCOUNTING (1-4)