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Course Descriptions

Please Note: Courses effective Fall 2014; for earlier terms, please refer to the appropriate class schedule.

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Display only IAI* courses

*IAI (Illinois Articulation Agreement) - An agreement among participating Illinois colleges and universities to help Illinois college students transfer credit as easily as possible. See an advisor in the Advising and Counseling for additional information, or read about the IAI at www.iTransfer.org.

Accounting

ACC100 - Small Business Accounting Procedures
Course introduces accounting concepts and procedures relating to small businesses. Content includes basic overview of accounting cycle, dataentry using manual and computerized systems, analysis and use of financial statement data. Course does not substitute for ACC 153, Principles of Financial Accounting. ACC 100 is an option for Oakton accounting majors and may becounted toward A.A.S. in Accounting, Accounting Associate certificate, or the Income Tax Preparation certificate, if taken prior to ACC 153.
3 Credit Hours (lecture: 3; lab: 0)

ACC153 - Principles of Financial Accounting
Course covers preparation and analysis of financial information using generally accepted accounting principles. Content includes the accounting cycle, financial statement preparation, merchandise accounting, internal controls, cash, receivables, inventory, payables, property, plant and equipment, intangible assets, liabilities, stockholders’ equity, cash flow statement, and financial statement analysis.
4 Credit Hours (lecture: 4; lab: 0)

ACC154 - Principles of Managerial Accounting
Course presents accounting information used for internal business management. Focus is on planning, controlling and evaluating company performance. Content includes budgeting, job costing, product pricing, breakeven analysis, standard costing, decision models. Projects will be completed in Microsoft Excel. Prior experience with Excel not required.Recommended: ACC 153
4 Credit Hours (lecture: 4; lab: 0)

ACC164 - Microsoft Excel for Accountants
Course provides hands-on experience in accounting uses of Microsoft Excel. Content includes creating data boxes in financial accounting, using multiple sheets with Excel formulas, preparing professional quality financial reports, creating graphs to interpret business results, and using Excel functions to evaluate accounting data.Recommended: ACC 153 or basic accounting knowledge.
1 Credit Hours (lecture: 1; lab: 0)
Fee: $10

ACC170 - Payroll Tax Accounting
Course covers study and practice in practical applications of payroll tax laws and requirements. Content includes understanding and preparation of payroll records including FICA, unemployment taxes, payroll registers, tax forms, and deposit coupons. Recommended: ACC 100 or ACC 153.
1 Credit Hours (lecture: 1; lab: 0)

ACC173 - Accounting with QuickBooks I
Course introduces QuickBooks software. Content includes setting up companies, entering payables, writing checks, entering sales, processing discounts, tracking sales tax, collecting receivables, preparing journal entries, generating internal reports, and creating financial statements. Recommended: ACC 153 or basic accounting knowledge.
1 Credit Hours (lecture: 1; lab: 0)
Fee: $10

ACC174 - Accounting with QuickBooks II
Course provides intermediate applications of QuickBooks software. Content includes inventory, budgets, account reconciliation, time tracking, customizing reports, and importing/exporting files. Assumes previous experience with payables, receivables and financial statements. Recommended: ACC 173 or previous experience with QuickBooks.
1 Credit Hours (lecture: 1; lab: 0)
Fee: $10

ACC175 - Accounting with Sage 50 – Part 1
Course introduces Sage 50 software (formerly known as Peachtree). Content includes setting up companies, entering payables, writing checks, entering sales, collecting receivables, tracking inventory, processing payroll, generating reports, entering journal entries and creating financial statements.Recommended: ACC 153 or basic accounting knowledge.
1 Credit Hours (lecture: 1; lab: 0)
Fee: $10

ACC176 - Accounting with Sage 50 – Part 2
Course provides intermediate applications of Sage 50 software (formerly known as Peachtree). Content includes new company setup, inventory tracking, account reconciliations, customizing forms, importing/exporting data, and performing all transactions to complete the accounting cycle for merchandising, nonprofit, and manufacturing companies.Recommended: ACC 175 or previous experience with Sage 50 (Peachtree) software.
1 Credit Hours (lecture: 1; lab: 0)
Fee: $10

ACC241 - Intermediate Accounting I
Course presents development, usefulness and limitations of financial accounting. Content includes the study of financial statements, conceptual framework of accounting, present value techniques, as well as issues arising from cash, receivables, inventories, long-term assets, and current liabilities. Accounting research is included using professional databases to resolve accounting issues. One credit hour of this course will satisfy the accounting research requirement mandated by the Illinois Board of Examiners. Recommended: ACC 153.
4 Credit Hours (lecture: 4; lab: 0)

ACC242 - Intermediate Accounting II
Course presents theory and practice relating to liabilities, equity, and statement of cash flows. Content includes study of debt and stock securities, earnings per share, accounting for income taxes, pension costs and leases, statement of cash flows, and financial reporting. Accounting research is included using professional databases to resolve accounting issues. One credit hour of this course will satisfy the accounting research requirement mandated by the Illinois Board of Examiners.Recommended: ACC 241.
4 Credit Hours (lecture: 4; lab: 0)

ACC243 - Accounting Research
Course presents practice of general accounting research. Content includes study of professional research using authoritative databases. Focus is on accounting literature, including application of professional standards to case study simulations. This course will satisfy the 2-hour accounting research required by the Illinois Board of Examiners for the CPA exam. Recommended: ACC241.
2 Credit Hours (lecture: 2; lab: 0)

ACC244 - Income Tax Accounting
Course offers practical study of current federal and Illinois state income tax concepts, requirements, procedures and forms as they relate to businesses and individuals. Content includes income inclusions and exclusions, capital gains and losses, business and personal deductions and accounting methods. Computerized tax software used. Recommended: ACC 153.
3 Credit Hours (lecture: 3; lab: 0)

ACC245 - Cost Accounting
Course presents advanced discussion of cost accounting and provides in-depth study of additional concepts/techniques beyond scope of ACC 154. Content includes application of cost concepts in manufacturing under differing costing methods, with focus on job, process, standard, variable and activity based costing. Short-term and long-term decision techniques with focus on cost-volumeprofit analysis, incremental analysis and capital budgeting. Additional Content includes inventory control, JIT, cost allocation methods and decentralization issues with transfer pricing. Assignments incorporate computerized spreadsheeting. Recommended: ACC 154.
3 Credit Hours (lecture: 3; lab: 0)

ACC250 - Accounting Systems and Procedures
Course requires work with accounting systems to maintain the books and prepare financial statements. Content includes preparation of source documents, flowcharts, journal entries, adjusting entries, general ledgers, subsidiary ledgers, bank reconciliations, depreciation schedules, payroll records, and financial statements, including the statement of cash flows. Microsoft Excel and QuickBooks used in this course. Prior experience with the software not required. Recommended: ACC 153.
3 Credit Hours (lecture: 3; lab: 0)

ACC251 - QuickBooks Comprehensive
Course prepares students for QuickBooks ProAdvisor Exam. Content in first 8 weeks includes basic functions such as sales, receivables, purchases, payables, inventory, bank reconciliations, sales taxes, and payroll. Content in second 8 weeks includes cleaning up errors, fixing the data necessary for tax returns, and troubleshooting financial reports. This course will substitute for ACC 173 and ACC 174. Previous experience with QuickBooks is not required.Recommended: ACC 153 and basic computer skills.
3 Credit Hours (lecture: 3; lab: 0)

ACC253 - Practicum
Course offers cooperative work experience in accounting field. Part of course credit earned for participation in supervised cooperative work experience program, in college-approved training setting. Minimum of 200 hours at work site must be completed. Recommended: ACC 250 and accounting job (at least 15 hours per week) at the time ACC 253 begins.
3 Credit Hours (lecture: 1; lab: 15)

ACC255 - Careers in Accounting
Course presents an exploration of career paths in bookkeeping, tax accounting, corporate accounting, auditing, international accounting, and independent accounting practice. Content includes fields of accounting, professional resumes, cover letters, job-search strategies, and interview skills. Students will attend one professional networking event arranged by the instructor. Recommended: ACC 153
2 Credit Hours (lecture: 2; lab: 0)

ACC260 - Auditing
Course concerned primarily with financial auditing. Content includes auditing standards, concepts and techniques, internal control, audit programs and audit reports. Recommended: ACC 242, or concurrent enrollment in ACC 242.
3 Credit Hours (lecture: 3; lab: 0)

ACC261 - Advanced Auditing
Course covers audit sampling, legal liability for CPA’s, financial statement reviews, agreed upon procedures and other assurance services. Other topics include other comprehensive basis of accounting, audit reporting, Yellow Book auditing, integration of internal control in an IT environment, and internal, operational, and compliance auditing. Topics will contain an overview of fraud examination and forensic auditing. Students will participate in an audit simulation throughout the term. Recommended: ACC 260
3 Credit Hours (lecture: 3; lab: 0)

ACC266 - Advanced Accounting
Course covers governmental and not-for-profit accounting, and business combinations. Content includes general funds, special funds, consolidated financial statements, intercompany inventory, and other intercompany transactions. Recommended: ACC 242, or concurrent enrollment in ACC 242.
3 Credit Hours (lecture: 3; lab: 0)

ACC274 - Advanced Tax Accounting
Course examines basic concepts of corporation income taxation for person in business field or student aspiring to a business career. General understanding of federal income tax system assumed. Focus is on tax aspects of business transactions and on compensation techniques. Content includes basic principles of income taxation as applied to partnerships, estates and trusts; taxation on transfer of wealth, both during lifetime and testamentary. Computerized tax software used. Recommended: ACC 244.
3 Credit Hours (lecture: 3; lab: 0)

ACC275 - IRS Enrolled Agent Exam Preparation Course
Course designed to prepare for IRS Enrolled Agent exam. The focus is on tax theory and its application in different areas and situations. Content includes taxation of individuals, sole proprietorships, partnerships, corporations, fiduciaries, estates, trusts and gifts. Training and practice in how to analyze and answer test questions. Simulated testing environment experience. Course open for review of taxation in the areas described above, even if taking exam not planned.Recommended: ACC 244 and 274 or equivalent tax experience.
4 Credit Hours (lecture: 4; lab: 0)

ACC290 - Topics in Accounting
Course covers selected current topics in Accounting; one identified for each section. Possible content includes: Income Tax Update, Payroll Tax Update, and Case Studies in ethics for Accounting. Prerequisite may vary by topic.
1-4 Credit Hours (lecture: 1-4; lab: 1-4)

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