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Course Criteria
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3.00 Credits
Prerequisite: Sophomore standing. The major emphasis is on the development and reporting of accounting information for use by investors, creditors, and others. The student is required to develop skills in the preparation and use of accounting information and must demonstrate an understanding of the accounting process, and be able to evaluate the impact of estimates, alternative accounting principles, and the limitations of the accounting model on accounting information. Topics include: preparation and use of financial statements; the accounting process; and the measurement and reporting of income, assets, liabilities, and owners¿ equity. Outcome: The student will be able to understand the underlying principles, design, concepts, limitations, and the necessity of accounting systems. The student will gain an appreciation of the uses of financial data and financial statements and their impact on business decisions.
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0.00 Credits
To successfully complete a request for tutoring, students must visit www.luc.edu/tutoringrequest Small group tutoring pairs several students from the same course and same professor with a trained peer tutor who has successfully earned credit for the course. Groups meet once weekly at the Center for Tutoring and Academic Excellence (Sullivan Center) on the Lake Shore Campus.
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3.00 Credits
Prerequisites: Sophomore standing, & a minimum grade of "C-" in ACCT 201. This course highlights the differences between financial accounting and managerial accounting. The course begins by completing the study of transactions and events affecting financial statements. The cash flow statement is then explored in some detail. Finally, financial statement analysis as traditionally practiced, is considered a capstone for financial accounting. The course then focuses on the use of accounting data by management. Product costing in a manufacturing setting, assigning of costs to objects, learning how costs behave, and the use of accounting data by management in planning operations, controlling operations, and in short term decision making are all investigated. Outcome: The student will be able to understand the differences between cash and accrual accounting, the use of ratio analysis in investing and managing decisions, the value and importance of identifying and allocating costs, and the methods involved in the budgeting process.
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0.00 Credits
To successfully complete a request for tutoring, students must visit www.luc.edu/tutoringrequest Small group tutoring pairs several students from the same course and same professor with a trained peer tutor who has successfully earned credit for the course. Groups meet once weekly at the Center for Tutoring and Academic Excellence (Sullivan Center) on the Lake Shore Campus.
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0.00 Credits
To successfully complete a request for tutoring, students must visit www.luc.edu/tutoringrequest Small group tutoring pairs several students from the same course and same professor with a trained peer tutor who has successfully earned credit for the course. Groups meet once weekly at the Center for Tutoring and Academic Excellence (Sullivan Center) on the Lake Shore Campus.
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3.00 Credits
Prerequisites: Junior standing and a minimum grade of "C-" in ACCT 201 and 202. This course critically evaluates product cost for inventory valuation and income determination. In addition, budgeting and control procedures are emphasized. Topics discussed include job order costing, process costing, activity-based costing, full absorption and direct costing, an introduction to overhead allocation, cost estimation, cost-volume-profit analysis, budgeting, standard costs, analysis of variances, and capital budgeting. The course incorporates computer applications to managerial accounting analysis.
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3.00 Credits
Prerequisites: Junior standing, minimum grade of "C-" in both ACCT 201 and 202. The first in a series of courses designed to provide in-depth coverage of the generally accepted principles underlying financial statements and financial reporting, from conceptual framework to application. Topics include alternatives for measurement of revenue and asset valuation, and presentation of financial statements. Lectures, discussions, and technical readings are supplemented with extensive problem and written assignments. Outcomes: Students will demonstrate their understanding of the accounting process leading to financial reports. Furthermore students will also develop the ability to apply critical thinking and analytical skills toward the solution of problems concerning valuation of assets, and revenue and expense recognition.
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0.00 Credits
To successfully complete a request for tutoring, students must visit www.luc.edu/tutoringrequest Small group tutoring pairs several students from the same course and same professor with a trained peer tutor who has successfully earned credit for the course. Groups meet once weekly at the Center for Tutoring and Academic Excellence (Sullivan Center) on the Lake Shore Campus.
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3.00 Credits
Prerequisites: Junior standing, a minimum grade of "C-" in ACCT 303. This course is an extension of Intermediate I where students use the conceptual framework to consistently evaluate and explain accounting practice. This allows the student to not only understand the accounting methodologies but also recognize why these approaches are generally superior to alternative accounting treatments. Topics include concepts of present and future value, investments in financial instruments (debt and equity), leases, pensions, income taxes, earnings per share, and the statement of cash flow. Outcome: Students will be able to demonstrate an understanding of the professional pronouncements as they relate to the measurement, recognition, and reporting of financial information. Students will also be able to demonstrate an understanding of how to research relevant accounting issues to better prepare for professional certification.
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0.00 Credits
To successfully complete a request for tutoring, students must visit www.luc.edu/tutoringrequest Small group tutoring pairs several students from the same course and same professor with a trained peer tutor who has successfully earned credit for the course. Groups meet once weekly at the Center for Tutoring and Academic Excellence (Sullivan Center) on the Lake Shore Campus.
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