AIC’s Accounting major prepares you to work with financial information — to measure it, analyze it, and communicate it to others.
In addition to taking a core of liberal arts and business courses, you’ll gain expertise in financial reporting, auditing, taxation, and other principles of accounting needed to become a Certified Public Accountant (CPA) or to pursue a Masters of Business Administration (MBA) degree.
As U.S. tax laws, financial statements, and auditing standards become more complex, people with Accounting degrees take on increasingly vital roles in the business world. Since accounting is the basic “language” that every business and organization uses, it’s a degree that gives you substantial career options and opportunities for advancement.
As a graduate of the program, you’ll have the skills and knowledge needed for a variety of advanced degree programs and careers, including:
The School of Business, Arts & Sciences at American International College have received specialized accreditation for its business programs through the International Accreditation Council for Business Education (IACBE) located at 11374 Strang Line Road in Lenexa, Kansas.
The Accounting major at AIC prepares students for success in business and to become Certified Public Accountants. It is a great major for those who want to put a nuanced understanding of business and financial principles to work in the real world.
AIC’s Accounting major prepares you to work with financial information—to measure it, analyze it, and communicate it to others. You’ll gain expertise in financial reporting, auditing, taxation, and other principles of accounting.
Accounting prepares you to work in a number of financial settings at the local, state and federal level, as well as in private, corporate, and academic institutions and organizations.
Since accounting is the basic “language” that every business and organization uses, it’s a degree that gives you substantial career options and opportunities for advancement.
Common Professional Component
All School of Business Administration students must fulfill general education requirements. All School of Business students must take the following introductory business courses:
Plus 12 credits of electives.
Choose one of the following courses:
And one from the following courses:
Topics include: the basic structure, principles, and practices of accounting; the nature and classification of accounts; the accounting cycle and the preparation of financial statements for both service and merchandising enterprises; design of accounting systems, including special journals and subsidiary ledgers; and coverage of cash, receivables, inventories, deferrals, accruals, plant assets, intangible assets, and current liabilities. Lecture classes and laboratory sessions meet at least four times per week. Laboratory fee.
This course continues the study of basic concepts and principles, as well as accounting for the partnership and corporate forms of business organizations; coverage of plant assets, intangible assets, and current liabilities, long-term liabilities, investments financial statement analysis, and the Statement of Cash Flows. Lecture classes and laboratory sessions meet at least four times per week. Laboratory fee.
This course expands on the topics of elementary accounting with a more comprehensive study of the principles and practices of accounting. It includes a review of the accounting process and a study of the design and content of financial statements. Detailed coverage is given to the areas of cash, receivables, and inventories.
This course provides further detailed coverage of accounting principles and practices in the areas of investments in stocks and bonds, plant assets, intangible assets, current and long-term liabilities, and stockholders’ equity. Other areas covered in detail include financial statement analysis and the Statement of Cash Flows.
This course examines the fundamental theory, primary objectives, and working procedures of auditing. The course is designed to familiarize the student with the ethics and duties of the independent certified public accountant. The major focus of the course centers around the examination, review, and compilation of financial statements and their supporting accounts and financial records, and the rendering of an accountant’s report.
This course is a study of accounting as it serves the needs of management, principally in planning, controlling, decision making, and determining product cost for pricing, inventory valuation, and income determination. Course emphasis is on the use of this information by those seeking careers in management accounting. Topics covered include cost terms, concepts, and classifications; job-order costing; process costing; cost behavior analysis and use; cost-volume-profit relationships; profit planning with the master budget; standard costs; flexible budgets and overhead analysis; measuring managerial performance; pricing and services; and relevant costs for decision making.
This course focuses on advanced accounting principles and practices. Topics covered include mergers and acquisitions, partnerships, international accounting and foreign currency transactions, and other topics of an advanced nature.
This course continues the study of advanced accounting principles and practices as they relate to nonprofit entities, including municipal governments, hospitals, universities, and voluntary health and welfare organizations. Current topics in accounting are also discussed.
This course reviews the Federal Income Tax Law and Regulations as they relate to individuals. Topics covered include calculation of gross income, business and personal deductions, tax computations, and tax credits. Practical problems and preparation of returns are also discussed.
This course continues the study of the Federal Income Tax Law and Regulations. Topics covered include basis and determination of gain or loss, tax credits, capital gains and losses, regular and “S” corporations, partnerships, and research methods in taxation.
This course familiarizes the student with the resources available to professionals in the fields of financial reporting, auditing, and taxation. Topics discussed include Generally Accepted Accounting Principles, Generally Accepted Auditing Standards, the Internal Revenue Code, Internal Revenue Regulations, Revenue Rulings, and court cases. The primary focus of the course is the completion of a major research project to serve as a capstone to the student’s study in the accounting program.
This course presents numbers, linear equations, linear inequalities, matrix algebra with applications, linear programming, and the simplex method. The course is designed for business administration majors.
This course examines the various tools and techniques used in analyzing quantitative data; including descriptive statistics, probability and random variables, sampling design, theory of estimation and hypothesis testing for parameters of a single population, student ‘t’ and normal distributions. A year of high school algebra is recommended but not required. The course will make active use of technology by requiring the use of computer software.
This course offers an introduction to the principles of management and their application to business. The basic management concepts of planning, organizing, controlling, motivating, communicating, staffing, and leading provide the basis for understanding of the management profession and a basis upon which higher level management courses can build more specialized knowledge.
This meets the requirement as a writing intensive course in the major. This course provides an introduction to information systems from a business point of view. Subjects to be covered include: terminology, a survey of hardware and software, introduction to systems analysis and design, as well as an overview of the college’s computer facilities.
This course is a survey of microcomputers as used in today’s environment. The student will become familiar with current trends and uses of microcomputers as well as hands-on exposure to spreadsheets, databases, word processors, and operating systems. Students will be required to develop applications in each of the software areas.
Marketing is a key activity that enables businesses and organizations to achieve their goals by satisfying the needs of others through mutually beneficial relationships. This course will provide students with an understanding of important marketing theory and practices, including: the marketing concept; the marketing environment; market segmentation, product positioning; product and brand strategies; pricing strategies, marketing communication strategies; distribution strategies; consumer and business buying behavior; and electronic marketing.
This meets the requirement as a writing intensive course in the major. This seminar is designed to provide the student with an opportunity to apply the wide array of knowledge gained through his/her academic program to various real world situations. The student’s knowledge application will be assessed through the analysis of complex business case problems.
This course introduces students to the fundamentals of law and the legal system as these apply to business transactions. Specific topics covered in the course are: contracts, agency, intellectual property rights, negotiable instruments, forms of business ownership, personal property, and real property.
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