Bachelor of Business—Accountancy
All students seeking the Bachelor of Business in Accountancy must complete I, II, III, IV, and V below, and the foreign language/global issues requirement for the major#. The minimum semester hour requirement for the baccalaureate degree is 120 s.h.
Pre-Accountancy students who have earned 60 hours, but are ineligible to declare a business major will be limited to a maximum of 29 hours of business courses (see Limit on Business Credits, page 90) and may be removed from business courses.
I. University General Education Curriculum (p. 69) ...43 s.h. II. Business Core Courses† (p. 91) ...33 s.h. III. Department Core Courses ...24 s.h.
ACCT 341, 342, 351, 371, 441, 451, 480; CS 302 IV. Electives
A. A minimum of 6 s.h. of accounting coursework and 3 s.h. from either accounting, BL 432, FIN 371, FIN 431, OM 352, or other department approved courses ...9 s.h. B. Open Electives ...8–11 s.h. V. Other ...15 s.h.*
Natural Sciences/Mathematics: MATH 137 and STAT 171
Social Sciences: ECON 231 and 232 and either PSY 100 or SOC 100
#The foreign language/global issues graduation requirement may be fulfilled by successfully completing one of the following: 1) an intermediate foreign language
requirement; 2) a General Education global issues course; 3) any major’s discipline-specific global issues course; or 4) an approved Study Abroad program.
†BCOM 320 (Business Core) fulfills the Writing Instruction in the Disciplines (WID) graduation requirement.
*12–15 s.h. may count towards the University General Education requirement. Other Requirements
Transfer students must complete at least 50% of their accounting courses at WIU to graduate as Accountancy majors.
Bachelor of Business—Finance
All students seeking the Bachelor of Business in Finance must complete I, II, III, IV, and V below, and the foreign language/global issues requirement for the major#. The minimum semester hour requirement for the baccalaureate degree is 120 s.h.
Pre-Finance students who have earned 60 hours, but are ineligible to declare a business major will be limited to a maximum of 29 hours of business courses (see Limit on Business Credits, page 90) and may be removed from business courses.
I. University General Education Curriculum (p. 69) ...43 s.h. II. Business Core Courses† (p. 91) ...33 s.h. III. Department Core Courses ...15 s.h.
IV. Electives
A. Departmental ...12 s.h. 12 s.h. of 400-level Finance courses excluding FIN 460 and 461
B. Directed ...3 s.h. One of the following courses:
ACCT 341, 351, 371 AGEC 336, 447
ECON 332, 425, 432, 451 MKTG 335
Any 400-level Finance course (including 460, 461)
C. Open ... 11–14 s.h. V. Other ...15 s.h.*
Natural Sciences/Mathematics: MATH 137 and STAT 171
Social Sciences: ECON 231 and 232 and either PSY 100 or SOC 100
#The foreign language/global issues graduation requirement may be fulfilled by successfully completing one of the following: 1) an intermediate foreign language
requirement; 2) a General Education global issues course; 3) any major’s discipline-specific global issues course; or 4) an approved Study Abroad program.
†BCOM 320 (Business Core) fulfills the Writing Instruction in the Disciplines (WID) graduation requirement.
*12–15 s.h. may count toward the University General Education requirement.
Minors
Minor in Accountancy ...18 s.h. 1. ACCT 201*, 202*, 341, 351 ... 12 s.h.
2. Two of the following: ACCT 342, 371, 420 (up to 3 s.h), 441, 442, 445, 451, 455, 457, 471, 480 ... 6 s.h. *Business majors should consult with their academic advisor.
Minor in Finance ...16 s.h. 1. FIN 311 or FIN 331 ... 3 s.h.
2. Finance Electives ... 9 s.h. 3. Business Electives ... 4 s.h.
Accounting and Finance
Course Descriptions
ACCOUNTING (ACCT)
200 Introduction to Accounting. (3) An introduction to financial and managerial accounting for non-business majors. The course will focus on the use of accounting information by managers. Not open to business majors or to students who have received credit for ACCT 201.
201 Principles of Financial Accounting. (3) The role of financial accounting concepts and practices in the development of information for business decisions.
Prerequisite: sophomore standing or department approval.
IAI: BUS 903.
202 Principles of Managerial Accounting. (3) The role of managerial accounting concepts and practices in the development of information for business decisions.
Prerequisite: ACCT 201.
IAI: BUS 904.
307 Accounting for Managers and Management Decisions. (3) Covers asset, liability, and equity accounting, as well as basic cost accounting concepts and techniques. Emphasis is on the use of accounting information for planning, controlling, and operating decisions. Not open to those who have received credit for ACCT 201 or 202. Cannot be applied towards
meeting the requirements for Accountancy major or minor without prior approval of the department chair. Prerequisite: junior standing.
341 Intermediate Accounting I. (3) Theoretical concepts and technical procedures underlying the preparation of external financial reports for corporate business organizations. Includes a one-hour lab which focuses on skills development for success in the accounting profession. Prerequisites: ACCT 201 and 202 with grades of C or better.
342 Intermediate Accounting II. (3) Theoretical concepts and technical procedures underlying the preparation of external financial reports for corporate business organizations. Prerequisites: ACCT 341 with a grade of C or better.
351 Management Accounting. (3) A detailed study of cost allocation methods, cost accounting systems, and the complexities involved in costing products, jobs, and services. Prerequisite: ACCT 202 with a grade of C or better.
371 Principles of Taxation. (3) The course will survey the reporting and planning of the effects of federal income taxation on personal and business transactions. Includes a one-hour lab which will stress tax research and personal compliance issues. Prerequisites: ACCT
200 or 201 with grades of C or better, and junior standing.
420 Internship in Accountancy. (3–12, repeatable to 12) One hour of credit is available for every 40 hours (120 hours minimum) of approved experience. Student is responsible for locating acceptable employment. A maximum of 3 s.h. may be used in the major. Prerequisite: Accountancy major or minor; prior approval of department chairperson or internship coordinator; completion of ACCT 341. Graded S/U only.
421 Independent Study in Accountancy. (1–3, not repeatable) Independent research on selected topics in Accountancy. Prerequisite: approval of department chairperson.
441 Advanced Accounting I. (3) (Global Issues)
Study of advanced accounting topics including consolidations, international accounting, and international financial reporting standards (IFRS).
Prerequisite: ACCT 342 with a grade of C or better.
442 Advanced Accounting II. (3) Study of advanced accounting topics including segment reporting, partnerships, SEC reporting, and state and local government accounting. Prerequisite: ACCT 342 with a grade of C or better.
445 The Analysis and Use of Financial Statements. (3) Integration of concepts from economics, business strategy, accounting, and other business disciplines to analyze financial statements for investment and credit decision making. Prerequisite: ACCT 441 with a grade of C or better or permission of instructor.
451 Accounting Systems and Control. (3)
Introduction to the concepts and current practices in analyzing and developing organizational accounting and control systems. Prerequisites: ACCT 341 with grade of C or better and CS 302.
455 Advanced Management Accounting. (3)
Advanced topics in cost/management accounting with an emphasis on tools and techniques for decision making. Prerequisite: ACCT 351 with a grade of C or better.
457 Fraud Examination. (3) An examination of the principles and practices for investigating allegations of fraud and financial misconduct. Topics include the elements of fraud, red flags, document examination, interviewing techniques, and report writing.
Prerequisites: Senior standing and ACCT 200 or 201 or permission of instructor.
471 Advanced Federal Taxation. (3) A study of advanced topics in federal taxation. The course will address compliance and planning issues in the taxation of corporations, partnerships, estates and trusts, and other advanced topics. Prerequisite: ACCT 371 with a grade of C or better.
480 Financial Auditing. (3) The role and function of the accountant in the attestation process, with emphasis on the audit of financial statements. An analysis of the interrelation of audit standards, procedures, and principles; and consideration of trends and developments in the profession of public accounting.
Prerequisite: ACCT 342 and 451 with grades of C or better.
FINANCE (FIN)
101 Financial Health. (2) (General Education/ Human Well-Being) Develops strategies for achieving and maintaining well-being through personal finance skills. Topics include well-being as it relates to cash management, credit management, sources of educational funding, rental agreements, basic investments, taxes, insurance, financial math, and
301 Personal Financial Planning. (3) An introductory personal money management course. Topics studied will include managing cash income, home ownership, investments, insurance, income and estate tax planning, and retirement planning.
311 Introduction to Finance. (3) Introductory course in the study of money and its management for non-business majors. The course is divided into three sections that encompass the major areas of Finance: financial institutions and markets, investments, and business finance. Not available to students who are currently enrolled in or have completed FIN 331. Prerequisite: MATH 100 or higher.
321 Principles of Real Estate. (3) The study of real estate with an emphasis on a broad coverage of all areas including but not limited to markets, legal concepts, financing, brokerage, appraising, and governmental influence.
331 Financial Management I. (3) Financial organization and the principles and practices of decision-making involving financial analysis, valuation, capital allocation, and budgeting. Cases and readings are utilized to study problems and techniques of financial analysis. Prerequisite: ACCT 201.
341 Financial Institutions. (3) A study of the major financial institutions including commercial banks, savings institutions, credit unions, mutual funds, insurance companies, securities firms, finance companies, and pension funds. Prerequisite: MATH 100 or higher.
351 Risk Management and Insurance. (3) The primary focus of this course is evaluating various loss exposures and analyzing the methods for managing these risks including personal lines of insurance such as auto, homeowners, life, annuity, retirement plans, and related items. Prerequisite: MATH 100 or higher.
371 Investments. (3) Presents a foundation in investments examining various types of financial instruments, the issuance and trade of securities, mutual funds, theory of risk and return, modern portfolio theory, capital asset pricing model, bond prices and yields, bond portfolios, and equity analysis.
Prerequisite: MATH 100 or higher.
400 Finance Internship. (1–12, repeatable to 12)
Students apply finance theories in actual business practice. All internships are academically and professionally supervised. A maximum of 3 s.h. may be used to satisfy the Finance major or minor requirements. Prerequisites: Finance major or minor, minimum junior standing. 2.75 GPA, 9 s.h. of Finance coursework, and written approval of the department chairperson. Graded S/U only.
421 Real Estate Finance and Investment. (3) The study of instruments, techniques, and institutions of real estate finance. This course analyzes mortgage and property investment risk, the secondary mortgage market, and the financial arrangements used in the financing of residential, industrial, and commercial properties, including commercial leasing. Prerequisite: FIN 321 or permission of instructor.
431 Financial Management II. (3) Theories and practices applicable to the financial administration of the firm involving cost of capital, financial structure, dividend policy, long- and short-term financing, reorganization, and international aspects. Cases and readings are utilized to study problems and techniques of financial analysis. Prerequisite: FIN 311 or 331.
441 Bank Management. (3) A study of the functions, operations, policies, organization, management, and supervision of commercial banks. Case analysis is used to predict the financial health of operational individual banks. Prerequisite: FIN 341.
the financial risks associated with the transfer of wealth during lifetime and at death. Wills and trusts are discussed. Techniques for reducing, freezing, or eliminating gift and estate taxes are explained.
Prerequisite: FIN 351 or permission of instructor.
452 Commercial Property and Liability Insurance. (3) The study of risk management techniques and concepts as they relate to commercial lines. Insurance and noninsurance techniques (such as fidelity and surety bonding) as they are used to deal with business risks are examined. Prerequisite: FIN 351 or permission of instructor.
460, 461 Independent Study in Finance I, II. (1–3 each, not repeatable)Prerequisite: Finance major or minor, 2.75 GPA or higher, 12 s.h. of Finance coursework, and written permission of instructor and chairperson.
471 Security Analysis and Portfolio Management. (3) Students will manage an actual investment portfolio making buy/sell recommendations to strategically fit the portfolio. The topics include basics of portfolio theory, application of capital asset pricing model, financial statement analysis, relative valuation techniques, and absolute valuation models. Prerequisite: grade of B or better in either FIN 371 or ACCT 341, and permission of instructor.
Seminars in Finance. (3) Each offering in this series is designed to provide students with an opportunity for intensive study in current theory and unresolved problems in the selected area. Open to Finance majors or minors in their senior year.
493 Seminar in Banking. (3) This bank course integrates a risk/reward framework based on theory with an intensive study of current issues. Unresolved problems are discussed as they relate to the financial industry both domestically and abroad, the regulatory environment, and the economy. Open to Finance majors or minors in their senior year.Prerequisite: FIN 341.
495 Seminar in Real Estate. (3)Open to Finance majors or minors in their senior year.Prerequisite: FIN 321 or permission of instructor.
496 Futures and Options Markets. (3) The course presents a foundation in futures and options contracts examining the types of contracts, structure of the markets, pricing of contracts, and applications in risk management. Prerequisite: FIN 311 or 331 or equivalent.
497 International Financial Management. (3) (Global Issues) This course presents the globalization factors, tools, and techniques encountered/employed by a corporation’s financial management team. Content examples include differing country-specific economic strengths, political risks, tax systems, exchange rate risks, and methods to reduce these risks. Prerequisite: FIN 311 or 331.
Chairperson: Dr. F. Erik Brooks Office: Morgan Hall 232
Telephone: (309) 298-1181; Fax: (309) 298-2181 E-mail: [email protected]
Website: wiu.edu/aas
Faculty: Asare, Boukari, Brooks, Morgan, Simpson, Watkins.
The Department of African American Studies provides a multidisciplinary and interdisciplinary education emphasizing informed multicultural, analytical, and critical approaches to the historical development; societies; cultures; economic, social, and political problems; contributions; and potentials of Black people of the Americas, Africa, and the African Diaspora.
A major course of study in African American Studies enhances students’ abilities to reexamine traditional paradigms of knowledge in the humanities and social sciences, and develop the necessary skills and methodologies to understand the cultural patterns, knowledge, and behaviors that are not commonly represented in an Eurocentric education. Furthermore, African American Studies students acquire dynamic perspectives and transformative knowledge, which prepare them for an increasingly diverse nation and world. They also acquire the ability to evaluate, criticize, research, and re-conceptualize personal and social constructions of race and class. These skills and abilities are indispensable in a changing society and will prove to be especially valuable in
contemporary and future occupations where employees will be expected to cope with new demographic factors and expand traditional horizons.
Coursework in African American Studies offers students opportunities to learn as well as practice various modes of inquiry which will prepare them for graduate studies and/or occupations that require writing and critical analysis. Students are trained to investigate historical, cultural, economic, religious, political, and literary phenomena and are encouraged to formulate new thinking based on thoughtful reflection on personal and community experiences. Assignments that empower students and give them skills to creatively understand and contribute to their communities and formulate informed independent views are central to all African American Studies courses. Students are especially encouraged to articulate their social and cultural experiences and to explore the world without submitting to personal, community, and group-held biases and limitations. A minor in African American Studies is an excellent complement to several majors, especially those which involve interracial contacts and relations. Students pursuing majors in the social sciences; Communication; humanities; education; Social Work; Recreation, Park and Tourism Administration; Law Enforcement and Justice Administration; and Health Sciences could particularly benefit by electing this minor.
GradTrac is available to African American Studies majors. See page 77 for information about GradTrac.
Honors Curriculum—Academically qualified students in this department are encouraged to complete an honors curriculum in University Honors, Upper Division Honors, or Lower Division Honors. All Honors students must complete the one-hour honors colloquium (G H 299). Lower Division Honors includes General Honors coursework. Upper Division Honors includes honors work in the major. University Honors combines Upper and Lower Division Honors. For more information about honors curricula, see page 98 or visit the Centennial Honors College website at wiu.edu/Honors.
Degree Programs
Bachelor of Arts—African American Studies
All students seeking the Bachelor of Arts in African American Studies must complete I, II, III, IV, and V below, and the foreign language/global issues requirement for the major#.