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Academic Program > Major and Minor Fields of Study > Accounting and Business

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Accounting and Business

Chair Timothy A. Ogden, Jen L. Lutz, Joe R. Messer, Franklin T. Olive, Bradan D. Pyrah, Jennifer K. Simmers, Heather C. Twomey

The Department of Accounting and Business builds upon the College’s liberal arts tradition, combining academic preparation and experiential learning to prepare students for graduate study and professional careers in accounting and business. Students will have the opportunity to explore accounting, finance, marketing and management. Internships may be arranged in all of these areas.

Baccalaureate Degrees

Departmental core, 33 hours: ACCT 211, 212; BUS 120, 313, 474; ECON 221, 222; FIN 333; MATH 210; three hours of BUS 106 on different topics.

Major in accounting, 55 total hours: core courses plus ACCT 311, 312, 321, 331, 411; BUS 310.

Major in finance, 52 total hours: core courses plus ACCT 331; ECON 310; FIN 335, 340, 455, 485.

Major in general business, 51 total hours: core courses plus 18 hours of 300- and 400-level departmental courses: At least two courses from each of two majors are required.

Major in management, 52 total hours: core courses plus BUS 310, 340, 350, 447, 448, 485.

Major in marketing, 52 total hours: core courses plus BUS 301, 305, 307, 337, 420, 485.

Majors must successfully complete the senior comprehensive evaluation prior to graduation. Details are available from the department chair.

Minor in business, 20 hours: ACCT 211, 212; BUS 120, 313; FIN 333; three hours of BUS 106 on different topics.

Courses ACCT

211 PRINCIPLES OF ACCOUNTING I - 3 hours
Students examine the principles of an integrated accounting system including both financial and managerial accounting. Emphasis is placed on introducing the financial statements and using accounting information. Topics include cost-volume-profit analysis, budgeting, accounting cycle, cash and working capital. Fall. January. Spring.

212 PRINCIPLES OF ACCOUNTING II - 3 hours
Students continue the examination of the principles of an integrated accounting system including both financial and managerial accounting. Emphasis is placed on interpreting financial statements and using accounting information for decision making. Topics include receivables, inventory, long-term assets, liabilities and product costing. Prerequisite: ACCT 211. Fall. January. Spring.

311 INTERMEDIATE ACCOUNTING I - 4 hours
Students examine the theoretical framework and underlying concepts that govern the field of accounting. Topics include the accounting cycle, measurement and valuation of balance sheet accounts and presentation of financial statements. Prerequisite: ACCT 212. Fall.

312 INTERMEDIATE ACCOUNTING II - 4 hours
Students continue the examination of the theoretical framework of financial reporting. Topics include accounting for investments, income taxes, pensions, and leases, as well as current issues in accounting. Prerequisite: ACCT 311. Spring.

321 MANAGERIAL ACCOUNTING I - 4 hours
Students examine accounting methods that assist an organization with planning and control. Emphasis is placed on decision making. Topics include costing systems, cost allocations, budgeting and variance analysis. Prerequisite: ACCT 212.

331 INTRODUCTION TO TAXATION - 4 hours
Students examine the concepts underlying federal taxation. Emphasis is placed on topics that affect both individuals and businesses, including tax accounting, revenue recognition, deduction allowance and depreciation.

401 ADVANCED ACCOUNTING - 3 hours
Students explore the problems of accounting for partnerships, consolidations, foreign currency transactions and international accounting. Prerequisite: ACCT 312.

411 AUDITING - 3 hours
Students examine the audit process, including its components: planning, fieldwork, and reporting. Topics include professional responsibilities, audit risk and materiality, internal control and evidence accumulation. Prerequisite: BUS 310.

413 AUDITING II - 3 hours
Students examine auditing and attestation professional standards and practices, including planning and accepting engagements, evaluating internal controls, obtaining evidence to form a basis for conclusion, and preparing communications to satisfy engagement objectives. Prerequisites: ACCT 411; BUS 310.

422 MANAGERIAL ACCOUNTING II - 3 hours
Students examine advanced accounting methods that assist an organization with planning and control. Emphasis is placed on the managerial accountant as business partner in an organization. Topics include quality costs, transfer pricing, performance measurement and current topics in managerial accounting. Prerequisite: ACCT 321.

432 ADVANCED TAXATION - 3 hours
Students examine income tax rules for corporations, partnerships, estates and trusts. Prerequisite: ACCT 331.

435 GOVERNMENT AND NONPROFIT ACCOUNTING - 3 hours
Students learn the basic principles and procedures of financial accounting for state and local governments and nonprofit organizations. Prerequisite: ACCT 311.

450 FINANCIAL ANALYSIS - 3 hours
Students examine external and internal financial analysis. Topics include financial statement analysis, comparison of the financial statements with prior year statements, budgets, and statements of other companies in the industry. Prerequisite: ENG 111; FIN 333.

475 INTERNSHIP - 1-12 hours
This course option grants academic credit for a supervised professional experience designed to give students experience in their fields of study. Evaluation of the experience is provided by the student, the student’s supervisor in the internship and a Manchester College supervising instructor. This course may be repeated for a maximum of 12 hours of credit. Prerequisite: Approval of department’s Internship Committee.

380 or 480 SPECIAL PROBLEMS - 1-4 hours
A student who has demonstrated ability to work independently may propose a course and pursue it with a qualified and willing professor. The department chair and the vice president and dean for academic affairs also must approve. A set of guidelines is available at the Office of the Registrar.

385 or 485 SEMINAR - 1-4 hours
An in-depth consideration of a significant scholarly problem or issue. Students pursue a supervised, independent inquiry on an aspect of the topic and exchange results through reports and discussion.

Courses BUS

106 COMPUTER APPLICATIONS: VARIABLE TOPICS - 1 hour
This course introduces students to computer software applications commonly used in business. Variable topics may include word processing, spreadsheets, database applications, presentation graphics, accounting applications or web design. This course may be repeated with different topics.

115 BUSINESS ENGLISH - 3 hours
Students examine the basic principles of standard English as it is used in business. Topics include grammar, mechanics, word choice and sentence structure. Students focus on reading and writing skills and the relationship between thinking clearly and writing clearly.

120 FOUNDATIONS OF BUSINESS - 5 hours
Students examine the basic elements of all business enterprises, with emphasis on the principles of marketing and management. Topics include the marketing mix (product, price, place and promotion) and the functions of management (planning, organizing, leading and controlling), as well as brief introductions to the use of accounting information and financial statement analysis.

231 PRINCIPLES OF MANAGEMENT - 3 hours
This course provides an introduction to the management process. Topics include the foundations of management thought and the theoretical constructs underlying the basic managerial functions: planning, organizing, staffing, directing and controlling.

234 PRINCIPLES OF MARKETING - 3 hours
This course introduces the role and importance of marketing techniques to the success of modern organizations, focusing on the four basic elements of marketing: product, price, promotion and distribution. Topics of investigation include the marketing concept, marketing research, consumer behavior, the product life cycle, channels of distribution, physical distribution, advertising, personal selling, public relations, market pricing structure and social responsibilities of marketers. Prerequisite: ECON 221.

301 ADVERTISING - 3 hours
Students examine the role of advertising in the marketing mix. Topics include advertising and promotion strategies; market segmentation; brand positioning; creativity models; and regulatory, public policy and ethical issues. Prerequisite: BUS 120.

305 SALES - 3 hours
Students explore the role of the personal selling functions in the marketing mix. Topics include organizing, training, compensating, and motivating the sales force, exploring personal selling theory and practices, and designing sales territories. Prerequisite: BUS 120.

307 DIRECT MARKETING - 3 hours
Students examine the role of direct marketing within the marketing mix. Topics include database marketing, catalog selling, business-to-business direct marketing, mailing and telephone lists, retail direct marketing, telemarketing, electronic commerce and interactive marketing. Prerequisite: BUS 120.

310 BUSINESS INFORMATION SYSTEMS - 3 hours
Students examine information systems as well as system development through systems analysis, design and implementation. Topics include business processes, information flows, systems documentation, internal controls and relational database concepts. Prerequisite: BUS 120.

313 BUSINESS LAW I - 3 hours
Students examine the legal environment in which businesses operate. Topics include contracts, sales, and introductions to business organizations, employment law and commercial paper. Fall. January. Spring.

337 RETAILING - 3 hours
Students examine the role of retailing, both nationally and internationally, in the marketing mix. Topics include retailing management, inventory management and control, purchasing, promotion, location and human resource management. Prerequisite: BUS 120.

340 HUMAN RESOURCE MANAGEMENT - 3 hours
Students examine the process of managing the people associated with an organization. Topics include employee recruitment, retention and separation; diversity; employee safety and health; salary and benefits administration; and unionization. Prerequisite: BUS 120.

350 ORGANIZATIONAL BEHAVIOR - 3 hours
Students explore the complex and dynamic organizational society in which the professional manager operates. Topics include the role of the individual in an organizational culture, job and organizational design, and organizational change. Prerequisite: BUS 120.

414 BUSINESS LAW II - 3 hours
Students continue the examination of the legal environment in which businesses operate. Topics include business organizations, agency, debtor/creditor relations, secured transactions, environmental law, securities law, employment law and administrative law. Prerequisite: BUS 313.

420 MARKETING RESEARCH - 4 hours
Students examine the use of research as a basis for marketing decision making. Topics include sources of marketing information; sampling; design of surveys and experiments; forecasting; and methods of analyzing, interpreting and using data. Prerequisites: BUS 120; MATH 210.

435 INTERNSHIP - 1-12 hours
This course option grants academic credit for a supervised professional experience designed to give students experience in their fields of study. Evaluation of the experience is provided by the student, the student’s supervisor in the internship and a Manchester College supervising instructor. This course may be repeated for a maximum of 12 hours of credit. Prerequisite: Approval of the department’s Internship Committee.

447 OPERATIONS MANAGEMENT - 4 hours
Students examine the processes by which land, labor, and capital are transformed into goods and services. Topics include forecasting, inventory management, quality management, design of work systems, location planning, facilities layout, and waiting lines. Prerequisites: BUS 120; MATH 210.

448 SMALL BUSINESS MANAGEMENT - 3 hours
Students examine issues unique to establishing and operating small businesses. Topics include entrepreneurial behavior, starting or acquiring a small business, financing a new business, developing a business plan, and using strategic planning tools in a small business. Prerequisite: BUS 120.

474 CASE STUDIES IN BUSINESS (W) - 3 hours
Using the case method, students in this capstone course synthesize the materials examined in the other courses required in their majors. Students hone critical thinking as well as oral and written presentation skills in the context of analyzing unstructured business problems. Prerequisites: senior status; BUS 120, 313; ENG 111; FIN 333. Spring.

380 or 480 SPECIAL PROBLEMS - 1-4 hours
A student who has demonstrated ability to work independently may propose a course and pursue it with a qualified and willing professor. The department chair and the vice president and dean for academic affairs also must approve. A set of guidelines is available at the Office of the Registrar.

385 or 485 SEMINAR - 1-4 hours
An in-depth consideration of a significant scholarly problem or issue. Students pursue a supervised, independent inquiry on an aspect of the topic and exchange results through reports and discussion.

Courses FIN

200 PERSONAL FINANCE - 1 hour
Students examine personal budgeting, accumulating wealth, protecting assets, managing taxes, and planning for education and retirement.

333 PRINCIPLES OF FINANCE - 3 hours
Students examine the principles of corporate financial management. Topics include financial management overview, cash flows, taxes, financial statement analysis and forecasting, financial markets and institutions, interest rates, risk and rates of return, and bond and stock valuation. Prerequisite: ACCT 212. Fall. January. Spring.

335 CORPORATE FINANCE - 3 hours
Students continue the examination of the principles of corporate financial management. Topics include cost of capital, capital budgeting, capital structure, dividend policy, hybrid financing, and risk management. Prerequisite: FIN 333.

340 INVESTMENT MANAGEMENT - 3 hours
Students examine long and short-term objectives of investment strategies, focusing on wealth accumulation. Topics include investment in stocks, bonds, mutual funds options and futures. Prerequisite: FIN 333

455 EQUITY ANALYSIS AND VALUATION - 3 hours
Students use contemporary methods to analyze specific industries and securities. Topics include fundamental and technical approaches to security analysis, concepts of risk evaluation, and portfolio theory and management. Prerequisite: FIN 335.

475 INTERNSHIP - 1-12 hours
This course option grants academic credit for a supervised professional experience designed to give students experience in their fields of study. Evaluation of the experience is provided by the student, the student’s supervisor in the internship and a Manchester College supervising instructor. This course may be repeated for a maximum of 12 hours credit. Prerequisite: approval of the department’s Internship Committee.

380 or 480 SPECIAL PROBLEMS - 1-4 hours
A student who has demonstrated ability to work independently may propose a course and pursue it with a qualified and willing professor. The department chair and the vice president and dean for academic affairs also must approve. A set of guidelines is available at the Office of the Registrar.

385 or 485 SEMINAR - 1-4 hours
An in-depth consideration of a significant scholarly problem or issue. Students pursue a supervised, independent inquiry on an aspect of the topic and exchange results through reports and discussion.

Courses NPM

201 PRINCIPLES OF NONPROFIT MANAGEMENT - 3 hours
Students examine the historical and cultural traditions in the United States which foster the growth of the third sector, the unique perspectives of management as they relate to nonprofit organizations, and the focus of nonprofit activities. Topics include the scope, impact, methods and diversity of mission-based organizations, the management of volunteers and donors, and the social values associated with the nonprofit sector.

305 PROGRAM MANAGEMENT FOR NONPROFITS - 3 hours
Students examine the intricacies of programming in a nonprofit organization. Topics include formulation, implementation, and evaluation of programs and strategic planning. Prerequisite: NPM 201.

320 FUND DEVELOPMENT FOR NONPROFITS - 3 hours
Students examine the role of fundraising within an organization. Topics include why people and organizations give, developing and using case statements, and the tools of fundraising, including data mining, personal selling and public relations. Prerequisite: NPM 201.

340 FINANCIAL MANAGEMENT FOR NONPROFITS - 3 hours
Students examine financial management of nonprofit organizations. Topics include responsibilities of financial managers, executive directors, and board members; budgeting; financial statement presentation; investment management; compliance with state and federal tax regulations; and maintenance of financial records. Prerequisite: NPM 201.

401 GOVERNANCE AND VOLUNTEER MANAGEMENT - 3 hours
Students examine the governance of nonprofit organizations and the management of volunteers. Topics include leadership and management of volunteers, roles and responsibilities of boards of directors, community leadership, and ethics. Prerequisite: NPM 201.

420 SOCIAL ENTREPRENEURSHIP - 3 hours
Students examine the role of creative and good stewardship in an organization. Topics include the definition of social entrepreneurship in the nonprofit sector, the business development process, idea generation, feasibility studies, business plan writing and financing. Prerequisite: NPM 201.

475 INTERNSHIP - 1-12 hours
This course option grants academic credit for a supervised professional experience designed to give students experience in their fields of study. Evaluation of the experience is provided by the student, the student’s supervisor in the internship and a Manchester College supervising instructor. This course may be repeated for a maximum of 12 hours of credit. Prerequisite: Approval of the department’s Internship Committee.

380 or 480 SPECIAL PROBLEMS - 1-4 hours
A student who has demonstrated ability to work independently may propose a course and pursue it with a qualified and willing professor. The department chair and the vice president and dean for academic affairs also must approve. A set of guidelines is available at the Office of the Registrar.

385 or 485 SEMINAR - 1-4 hours
An in-depth consideration of a significant scholarly problem or issue. Students pursue a supervised, independent inquiry on an aspect of the topic and exchange results through reports and discussion.