Accounting
Why pursue an accounting degree at North Central College?
Accountants are responsible for interpreting and analyzing financial statements. Our accounting program is designed to help you solve complex quantitative problems and learn the communication skills to be able to explain financial statements and results to CEOs, stockholders and individual clients. Accountants learn how to have sharp attention to organizational details, great communication skills and be mathematically and economically minded. At North Central, accounting majors will have the opportunity to gain hands-on experience as early as their first year on campus. Whether you pursue Certified Public Account (CPA) status, graduate business school or something different, accountants create meaningful economic impact across industries.
IF YOU ARE INTERESTED IN
- Preparing financial documents like balance sheets or tax return reports
- Performing audits for individual or business clients
- Evaluating and making recommendations for financial operations
then an ACCOUNTING degree might be for you.
Why study accounting at North Central College?
In the Classroom
Coursework topics:
- 11-course comprehensive business core (including Financial Accounting, Managerial Accounting and Corporate Finance)
- Accounting Information Systems
- Auditing and Attestation
- Cost Accounting
- Intermediate Accounting I and II
- Principles of Taxation
- Two of the following:
- Advanced Taxation
- Accounting for Business Combinations
- Accounting for Not-for-Profits
- Fraud Examination
- Seminar in Accounting
Beyond the Classroom
As an accounting major, you can:
- Secure an internship with prestigious accounting firms like PwC, EY, Deloitte, RSM or other local and regional firms.
- Attend networking events, speaker series and social gatherings with the Student Accounting Society.
- Work closely with faculty mentors to conduct research, explore graduate programs and understand career opportunities.
- Sit for the CPA examination in Illinois or another state upon completed course requirements*
- Explore opportunities to complete required credit hours for the CPA examination through graduate study—whether through North Central’s or other schools’ masters’ programs.
- Apply for one of 10 scholarships awarded annually for study materials and fee waivers to take the Certified Management Accountant examination.
- Volunteer for local non-for-profit entities through the income tax preparation program and attestation services.
- Conduct market research and engage in data analytics using our state-of-the-art, 10-station Bloomberg Laboratory.
- *Note that effective in January 2023, CPA candidates in Illinois (like many other states) may take the examination with a bachelor’s degree. However, candidates passing the examination will be required to complete 150 credit hours for state licensure. Students are encouraged to work closely with faculty mentors to arrive at a plan to meet these requirements.
Accounting, B.B.A.
Accounting emphasizes the generation, analysis and reporting of key financial information to interested stakeholders. Graduates are employed in a wide variety of careers including, financial reporting, financial advising, consulting and data analysis. Accountants work for public accounting firms, private firms, governmental units and not-for-profit organizations.
The accounting curriculum provides the content specified in the Uniform CPA Examination. In Illinois, through December 31, 2022, candidates are required to have 150 semester credit hours to sit for the CPA examination. Effective January 1, 2023, candidates may sit for the CPA examination with a Bachelor's degree. However, successful candidates will be required to complete 150 semester credit hours for state licensure. Students may earn the additional credit hours through graduate studies, overloads, May or summer term courses. Additionally, advanced placement credits and college coursework not transferred into North Central College may be count towards the 150-hour requirement. Students are encouraged to work closely with faculty mentors to determine a plan of study that best meets individual circumstances.
For additional programs and courses in this department, see Accounting and Finance.
Common SBE Core
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SBEN 100 - Globalization and Society
SBEN 100 - Globalization and Society
4.00 credit hours
An introductory course identifying the role of the business institution in our society, how business behavior is shaped and influenced by its stakeholders-managers, consumers, employees, government and community members. Key topics include: business systems, corporate governance, the business and society relationship, business and public issues, ethical dilemmas in business, corporate social responsibilities in relation to stakeholders, globalization, ecological and sustainability issues and the influence of technology on business and society.
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ACCT 201 - Financial Accounting
ACCT 201 - Financial Accounting
4.00 credit hours
An introduction to accounting principles and procedures as they are employed in the communication of financial information to various users, such as management, stockholders and government agencies. Topics include accounting for assets, liabilities, owner's equity and other reporting issues.
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ACCT 202 - Managerial Accounting
ACCT 202 - Managerial Accounting
4.00 credit hours
Analysis of accounting for managerial decision-making, planning and control. Topics include budgeting, variance analysis, traditional and nontraditional product costing methods and cost-volume profit analysis.
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BUSN 205 - Business Law and Ethics
BUSN 205 - Business Law and Ethics
4.00 credit hours
Surveys the major aspects of the law governing business and commerce including the domestic and international legal environment, the range of dispute resolution processes, legal liability including torts and negligence, contracts, employment law including employment discrimination, business entities, commercial transactions and intellectual property—all with particular emphasis on business ethics and ethical decision making.
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BUSN 265 - Business and Economics Statistics
BUSN 265 - Business and Economics Statistics
4.00 credit hours
Provides an overview of basic statistics as it applies to business. The focus is on learning statistical concepts by applying analytical reasoning to business applications. Examples illustrating the relevance of statistics to broad areas of business are used. The course requires students to use spreadsheet programs, statistical programs, the Internet and other computer tools in analyzing statistics. The focus is on application of the material and on solving problems. Only one of BUSN 265 and
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BUSN 485 - Business Strategy
BUSN 485 - Business Strategy
4.00 credit hours
The capstone course requirement for all business majors. As befits a capstone, student skills in business strategy are developed in a highly integrative manner such that students use knowledge and frameworks from all functional areas of business to develop a holistic perspective of firms and competitive advantage. The knowing component of this course is focused on theoretical knowledge and frameworks applied in the critical analysis of business case studies. The doing component of this course centers on an online simulation where students compete to run a successful business.
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ECON 200 - Principles of Microeconomics
ECON 200 - Principles of Microeconomics
4.00 credit hours
Introduction to the theory of consumer choice, social and individual welfare, the behavior of business firms and market structure, and other applied microeconomic topics.
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ECON 205 - Principles of Macroeconomics
ECON 205 - Principles of Macroeconomics
4.00 credit hours
Introduction to macroeconomic theory, with emphasis on factors which explain changes in national income, unemployment and inflation. Other topics include money and banking, fiscal and monetary policies, distribution of income and economic crises.
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FINA 350 - Corporate Finance
FINA 350 - Corporate Finance
4.00 credit hours
An introduction to corporate financial management. Topics include financial statement analysis, discounted cash flow analysis, bond and stock valuation, common stock/debt financing, risk and return, cost of capital, and capital budgeting.
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MGMT 305 - Management and Organizational Behavior
MGMT 305 - Management and Organizational Behavior
4.00 credit hours
Provides a formal overview of why organizations exist and how they operate within the context of society. Basic management issues such as the structure of organizations are explored. In many cases management topics are covered in a generic manner that can be applied to any organization. Other issues are addressed with specific applications to certain firms. This course examines our role as individuals as it pertains to organizations. It is generally meant to provide a framework to analyze organizations that exist in the U.S. but will also cover some international topics.
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MKTG 300 - Principles of Marketing
MKTG 300 - Principles of Marketing
4.00 credit hours
Presents an overview of Marketing as a principle, a discipline, and as a profession. Students examine all elements of Marketing including integrated promotional strategies, consumer behavior, and ethics and social responsibility. Emphasis is placed on the Marketing Mix (Product, Place, Promotion and Price) as students design and implement a comprehensive marketing plan.
Accounting Courses
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ACCT 307 - Cost Accounting
ACCT 307 - Cost Accounting
4.00 credit hours
Development of accounting information for management decisions. A study of several cost accounting systems, unit cost determination, budgeting, variance analysis, cost allocation systems and inventory control techniques used for routine and non-routine management decisions.
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ACCT 310 - Accounting Information Systems
ACCT 310 - Accounting Information Systems
2.00 credit hours
An introduction to accounting information systems. Topics include developing an understanding of the roles and responsibilities within the functions of accounting information systems, and understanding the relationship between events, financial reports and resulting managerial decisions.
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ACCT 317 - Intermediate Accounting I
ACCT 317 - Intermediate Accounting I
4.00 credit hours
Study and research of U.S. Generally Accepted Accounting Principles and their applications to financial accounting and financial statements. Additionally, the application of International Financial Reporting Standards is explored with each topic. Topics covered include an in-depth study of cash, receivables, inventory, plant assets, intangible assets and investments.
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ACCT 318 - Intermediate Accounting II
ACCT 318 - Intermediate Accounting II
4.00 credit hours
A continuation of Intermediate Accounting I. Topics covered provide an in-depth study of, liabilities, stockholders' equity and earnings per share, revenue recognition, pensions, leases, deferred taxes, disclosure requirements for business segments, cash flows statement and error analysis.
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ACCT 330 - Principles of Taxation
ACCT 330 - Principles of Taxation
4.00 credit hours
Basic concepts of federal income tax laws and their application for individual and entity taxation. Topics include gross income, excluded income, deductions (business, non-business, and employee), tax credits, depreciation, capital gains and losses, installment sales, nonrefundable credits and bad debts and losses.
-
ACCT 370 - Auditing and Attestation
ACCT 370 - Auditing and Attestation
4.00 credit hours
A study of standards and procedures related to audit and attest engagements. Topics include the decision-making process, the internal control environment and the communications required for the engagement.
Two of the following:
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ACCT 431 - Advanced Taxation
ACCT 431 - Advanced Taxation
2.00 credit hours
Advanced concepts of federal income tax laws and their application to individuals, pass-through and business entities. Topics include taxation theory, corporations, corporate distributions, partnerships, securities and retirement plans and administrative procedures.
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ACCT 440 - Accounting for Business Combinations
ACCT 440 - Accounting for Business Combinations
2.00 credit hours
A study of accounting principles concentrating on the preparation and analysis of consolidated financial statements and related topics.
-
ACCT 460 - Accounting for Not-For-Profits
ACCT 460 - Accounting for Not-For-Profits
2.00 credit hours
A study of fund accounting as used by not-for-profit organizations such as government agencies, colleges, hospitals and charitable organizations.
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ACCT 471 - Fraud Examination
ACCT 471 - Fraud Examination
2.00 credit hours
A study of the fraud examination as related to business. Topics include: fraud prevention and deterrence, financial transactions and fraud schemes, fraud investigations and the law as it pertains to fraud.
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ACCT 490 - Seminar in Accounting
ACCT 490 - Seminar in Accounting
2.00 credit hours
Topics in accounting with an emphasis on research and emerging issues in the profession. The nature of accounting standard setting and its implications provide a framework for the seminar topics and activities.
Accounting Minor
An accounting minor introduces students to key and core aspects of the generation, analysis and reporting of key financial information to interested stakeholders. A minor in accounting is appropriate for a wide-range of student majors and can provide the basis for continued graduate study in accounting at the masters' degree-level.An accounting minor introduces students to key and core aspects of the generation, analysis and reporting of key financial information to interested stakeholders. A minor in accounting is appropriate for a wide-range of student majors and can provide the basis for continued graduate study in accounting at the masters' degree-level.
For additional programs and courses in this department, see Accounting and Finance.
At least 22 credit hours in accounting, including:
Required Courses
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ACCT 201 - Financial Accounting
ACCT 201 - Financial Accounting
4.00 credit hours
An introduction to accounting principles and procedures as they are employed in the communication of financial information to various users, such as management, stockholders and government agencies. Topics include accounting for assets, liabilities, owner's equity and other reporting issues.
-
ACCT 202 - Managerial Accounting
ACCT 202 - Managerial Accounting
4.00 credit hours
Analysis of accounting for managerial decision-making, planning and control. Topics include budgeting, variance analysis, traditional and nontraditional product costing methods and cost-volume profit analysis.
-
ACCT 317 - Intermediate Accounting I
ACCT 317 - Intermediate Accounting I
4.00 credit hours
Study and research of U.S. Generally Accepted Accounting Principles and their applications to financial accounting and financial statements. Additionally, the application of International Financial Reporting Standards is explored with each topic. Topics covered include an in-depth study of cash, receivables, inventory, plant assets, intangible assets and investments.
-
ACCT 330 - Principles of Taxation
ACCT 330 - Principles of Taxation
4.00 credit hours
Basic concepts of federal income tax laws and their application for individual and entity taxation. Topics include gross income, excluded income, deductions (business, non-business, and employee), tax credits, depreciation, capital gains and losses, installment sales, nonrefundable credits and bad debts and losses.
Electives
Six credit hours from the following:
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ACCT 303 - Environmental Cost Analysis
ACCT 303 - Environmental Cost Analysis
4.00 credit hours
Accounting and business concepts are applied to sustainability projects within the greater College community. After covering a foundation of cost and managerial accounting concepts, students will work on teams to plan, implement and assess environmental opportunities available to the College. Projects may include cost-benefit analysis, capital budgeting or sustainability certification opportunities.
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ACCT 307 - Cost Accounting
ACCT 307 - Cost Accounting
4.00 credit hours
Development of accounting information for management decisions. A study of several cost accounting systems, unit cost determination, budgeting, variance analysis, cost allocation systems and inventory control techniques used for routine and non-routine management decisions.
-
ACCT 310 - Accounting Information Systems
ACCT 310 - Accounting Information Systems
2.00 credit hours
An introduction to accounting information systems. Topics include developing an understanding of the roles and responsibilities within the functions of accounting information systems, and understanding the relationship between events, financial reports and resulting managerial decisions.
-
ACCT 318 - Intermediate Accounting II
ACCT 318 - Intermediate Accounting II
4.00 credit hours
A continuation of Intermediate Accounting I. Topics covered provide an in-depth study of, liabilities, stockholders' equity and earnings per share, revenue recognition, pensions, leases, deferred taxes, disclosure requirements for business segments, cash flows statement and error analysis.
-
ACCT 370 - Auditing and Attestation
ACCT 370 - Auditing and Attestation
4.00 credit hours
A study of standards and procedures related to audit and attest engagements. Topics include the decision-making process, the internal control environment and the communications required for the engagement.
-
ACCT 431 - Advanced Taxation
ACCT 431 - Advanced Taxation
2.00 credit hours
Advanced concepts of federal income tax laws and their application to individuals, pass-through and business entities. Topics include taxation theory, corporations, corporate distributions, partnerships, securities and retirement plans and administrative procedures.
-
ACCT 440 - Accounting for Business Combinations
ACCT 440 - Accounting for Business Combinations
2.00 credit hours
A study of accounting principles concentrating on the preparation and analysis of consolidated financial statements and related topics.
-
ACCT 460 - Accounting for Not-For-Profits
ACCT 460 - Accounting for Not-For-Profits
2.00 credit hours
A study of fund accounting as used by not-for-profit organizations such as government agencies, colleges, hospitals and charitable organizations.
-
ACCT 471 - Fraud Examination
ACCT 471 - Fraud Examination
2.00 credit hours
A study of the fraud examination as related to business. Topics include: fraud prevention and deterrence, financial transactions and fraud schemes, fraud investigations and the law as it pertains to fraud.
-
ACCT 490 - Seminar in Accounting
ACCT 490 - Seminar in Accounting
2.00 credit hours
Topics in accounting with an emphasis on research and emerging issues in the profession. The nature of accounting standard setting and its implications provide a framework for the seminar topics and activities.
What Careers Can I Have as an Accounting Major?
Accounting emphasizes the generation, analysis and reporting of key financial information to interested stakeholders. Graduates are employed in a wide variety of careers including, financial reporting, financial advising, consulting and data/business analytics. Accountants work for public accounting firms, private firms, governmental units and not-for-profit organizations. Accounting graduates can also pursue a master's to start at higher positions with higher salaries
Internships
- Enterprise finance intern, Accenture, Chicago
- Tax intern, McDonald’s Corporation, Oak Brook, Ill.
- Audit services intern, KPMG, Chicago
- Forensic accounting intern, Enforcement Division of the Securities and Exchange Commission, Chicago
- Assurance services intern, Grant Thorton, Chicago
- International tax services intern, Deloitte, Chicago
- Accounting services intern, Lauterbach & Amen, LLP, Naperville, Ill.
- Employee benefits audit intern, Sikich, LLP, Naperville
- Assurance Intern, PwC, Chicago
- Accounting Intern, Cabot Microelectronics
- Internal Audit Intern, Wolters Kluweer, Riverwoods, IL
- Audit Intern, Sikich, Naperville
- Assurance Intern, Plante Moran, Chicago
- Tax Season Intern, Porte Brown LLC, Elk Grove Village, IL
Graduate Schools
Recent graduates in accounting have completed graduate degrees at:
- Arizona State University
- DePaul University
- Loyola University
- North Central College
- Northern Illinois University
- University of Michigan
- University of Notre Dame
Careers
Recent graduates in accounting include:
- Finance & Accounting Leadership Development Program, Navistar, Chicago
- Assurance Staff, Plante Moran, Chicago
- Accounting Outsourcing Services Associate, BKD, Oak Brook Terrace
- Associate, DHJJ, Naperville
- Tax Associate, PwC, Chicago
- Associate, Transaction Services, RSM, Chicago
- Audit Associate, RSM, Schaumburg
- Pension Benefits Specialist, Lauterbach & Amen, LLP, Naperville
- Associate Financial Analyst, Leadership Development Program, Exelon, Naperville
- Tax Associate, RSM, Schaumburg
- Financial services tax staff, Ernst & Young, Chicago
- Audit associate, Sikich, LLP, Naperville
- Audit associate, Deloitte, Chicago
- Tax consultant, Deloitte, Chicago
- Audit associate, Grant Thorton, Chicago
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