2007-2008 Undergraduate Bulletin

BUSINESS
Division of Business Administration, Thomas S. Collins, J.D., M.A. C.P.A., 

Accounting
Business
Finance
Marketing
Management
Management Information Systems

BUSINESS

Students must earn a cumulative average of 2.00 or better in all L.ACC and L.BUS courses and complete a minimum of 12 credits of upper level courses in their major (beyond core and supporting) at Loras College, including the capstone course.

Core courses: (24 credits)
L.ACC-225, 226, L. BUS-120, 230, 240, 310, 317, 350

Supporting courses: (12-13 credits)
L.COM-330 Business Speaking & Writing, L.ECO-221 Principles of Microeconomics, L.ECO-222 Principles of Macroeconomics and L.MAT-113 College Algebra or above.

Accounting majors: (24 credits)
L.ACC-331, 332, 343, 450, 455 plus nine additional credits in Accounting numbered 330 or above (excluding L.ACC -94, 494 Accounting Internship). Anyone who takes Intermediate Accounting at another four-year institution and earns two Cs or any Ds must retake both semesters of Intermediate Accounting at Loras College unless a waiver is granted by the Division Chair. The Division does not accept Intermediate Accounting taken at a community college.

Business majors: (15 credits)
Nine additional credits in L.BUS courses; three additional credits in L.ACC or L.BUS credits; and L.BUS-488. Internships cannot be used to satisfy requirements for this major. This major is not open to students completing a specialized major in this Division.

Finance majors: (15 credits)
L.BUS-352, 451, 487 plus two additional courses from L.BUS-353, 354, 355, 358, 452, L.ECO-345 or an L.ACC class numbered 300 or above.

Management majors: (15 credits)
L.BUS-331, 335, 432, 488 plus one additional course from L.BUS-344, 345, 370, 461, 462, 463, 464.

Management Information Systems majors: (18 credits)
At least six credits of programming electives from L.BUS-326, 327, L.CSC-125 plus six credits of upper level MIS electives from L.BUS-321, 322-323-324, 325, 329 or additional 3 credits programming elective plus six credits of systems creation credits including L.BUS-428 and 489.

NOTE: In 2007, the Computing & Information Technology (CIT) major was approved. This major will replace the Management Information Systems (MIS) and Computer Science (CS) majors. Current MIS and CS majors will be allowed to complete their course of studies, but new majors should choose the CIT major.

Marketing majors: (15 credits)
L.BUS-343,447, 486 plus two additional courses from L.BUS-344, 345, 346, 348, 349.

Minor(s) and Concentration(s) in the Division of Business Administration
Students may “double count” a maximum of 6 credits in a minor.

Accounting minor: (18 credits)
L.ACC-225, 226, 331, 343 plus six credits in L.ACC numbered above 226. A student must earn a cumulative average of 2.00 or better in all accounting minor/division courses.

Business minor: (18 credits)
L.ACC-225, L.BUS-230, 240, L.ECO-221 plus six elective credits in upper level 300+ L.ACC or L.BUS courses. A student must earn a cumulative average of 2.00 or better in all business minor/division courses. The Business minor is available only to students majoring outside the Division of Business Administration.

International Business Concentration: (9 credits)
Students must complete the following coursework:
L.BUS-370, either L.BUS-348 or L.ECO-334 plus three credits from L.BUS-348, L.ECO-334, 336, L.POL-121, 211, 314. A student must earn a cumulative average of 2.00 or better in all concentration/division coursework. The International business concentration is available to students majoring in accounting, business, finance, management, MIS or marketing.

MIS minor: (21 credits)
L.ACC-225, L.BUS-120 or equivalent, L.BUS-230, 489 plus nine credits selected from MIS electives L.BUS-321, 322-323-324, 325, 326, 327, 329, and 428. A student must earn a cumulative average of 2.00 or better in all MIS minor/division courses.

Please Note:
1. Students must get PRIOR written permission to transfer in credit once they have matriculated at Loras. Students wishing to take a summer school class on another campus must get written permission from the Chair BEFORE taking the class. If a student has taken courses on other campuses and then transfers to Loras the Division chairperson will make a determination of those transfer credits.
2. A student majoring in the Division must complete the divisional math requirement (L.MAT -13 College Algebra or above) by the end of their sophomore year.
3. Students planning to take the C.P.A. examination should consult with a member of the Accounting faculty to be sure that the student is aware of the educational requirements of the jurisdiction in which he/she plans to qualify for the examination.
4. Accounting or business internships cannot be used to fulfill electives for any major or minor in this Division.

ACCOUNTING COURSES

L.ACC-225. Principles of Accounting I.
A study of the fundamental principles and procedures of financial accounting with an emphasis on preparation of financial statements for external reporting. Prerequisite: L.MAT-113 or above. Not open to first year students. 3 credits. Each semester.

L.ACC-226. Principles of Accounting II.
A continuation of the study of financial accounting and an introduction to managerial accounting. Topics include the preparation of statement of cash flows, analysis of financial statements, accounting for manufacturing operations, and a study of the internal uses of information for managerial planning, control and decision making. Prerequisite: L.ACC-225. Not open to first year students. 3 credits. Each semester.

L.ACC-328. Managerial Accounting.
Emphasizes the development and use of accounting information in performing managerial functions, including consideration of the qualitative aspects of analyzing accounting data and making decisions. Topics include cost-volume profit analysis budgeting; control and performance evaluation; and product costing. Prerequisites: L.ACC-225 and 226. Credit is not allowed for both L.ACC-328 and 344. 3 credits. Dependent upon staff and demand.

L.ACC-331. Intermediate Financial Accounting I.
A brief review of basic financial accounting concepts and principles, followed by detailed study of the valuation of various assets and the impact of these valuations on income measurement. Includes a study of compound interest concepts and applications. Emphasis is on concepts, with some consideration of non-GAAP accounting alternatives. Prerequisites: L.ACC-225 and 226. 3 credits. Each fall semester.

L.ACC-332. Intermediate Financial Accounting II.
A continuation of intermediate financial accounting. Topics include long-term liabilities, stockholders' equity, dilutive securities and earnings per share, investments, accounting for income taxes, accounting for pensions, accounting for leases, accounting changes and error analysis and the statement of cash flows. Prerequisite: L.ACC-225, 226, and 331. 3 credits. Each spring semester.

L.ACC-343. Cost Accounting.
Principles, procedures and practices of job order, process and standard cost systems. Also included are additional topics related to managerial uses of cost accounting information. Prerequisites: L.ACC-225 and 226. 3 credits. Each fall semester.

L.ACC-344. Advanced Cost Accounting.
Intended to give the student broader knowledge of cost accounting. Emphasis is placed on the use of accounting data in management decision-making. Includes examination of recent conceptual and analytical developments in the area. Prerequisite: L.ACC-225, 226, and 343. 3 credits. Credit is not allowed for both L.ACC-328 and 344. Each spring semester.

L.ACC-350. Accounting Systems.
A study of accounting information systems–the elements they contain; the ways in which they are designed and the role they play in supplying information to those who require it. Prerequisites: L.ACC-225, 226 and L.BUS/CSC-120. 3 credits. Spring semesters of odd numbered years.

L.ACC-352. Accounting for Governmental and Non-Profit Entities.
A study of fund accounting with emphasis on governmental entities. Other topics include accounting for hospitals, voluntary health and welfare organizations, and educational institutions. Prerequisites: L.ACC-225 and 226. 3 credits. Spring semesters of even numbered years.

L.ACC-394, 494. Accounting Internship.
Provides college credit for work experiences related to the major program. Proposals arranged in consultation with Division faculty and approved by Division chair. Credit varies. Internships cannot be used as accounting electives.

L.ACC-450. Auditing.
This course studies auditing theory and practice developed through the study of text material, questions and problems. Emphasis placed on the study of the internal control, audit standards, audit objectives and the preparation of reports. Students also participate in real world audits and complete an electronic major portfolio. Prerequisites: L.ACC-331, 332 and L.BUS-310. 3 credits. Each spring semester.

L.ACC-455. Federal Income Tax I.
A study of federal income tax laws and their application to individuals. Prerequisites: L.ACC-225 and 226 or permission of instructor. 3 credits. Each fall semester.

L.ACC-456. Federal Income Tax II.
A study of federal income tax laws and their application to partnerships, fiduciaries and corporations. Prerequisites: L.ACC-455 or permission of instructor. 3 credits. Each spring semester.

L.ACC-468. Advanced Financial Accounting.
Major emphasis on accounting for business combinations and the preparation of consolidated financial statements. Other topics covered in depth are accounting for partnership entities and accounting for multinational enterprises. Topics covered in less detail are accounting for branches, reporting for segments of business enterprises, interim reporting, reporting for the Securities and Exchange Commission and accounting for fiduciaries. Prerequisites: L.ACC-331, 332. 3 credits. Each fall semester.

BUSINESS COURSES

L.BUS-110. Introduction to Business.
A course designed to acquaint prospective accounting or business majors with the many aspects of a career in the business world. First year students only. 3 credits. This course will not count toward Divisional elective credit, but will count toward the 120 hours required for graduation. Dependent upon staff and demand.

L.BUS-120. Introduction to Computing Technology.
This course provides a general background of how computing technology can be used to solve problems, as well as offering hands-on instruction for using common PC software packages. Starting with a historical overview of computing technology, you will learn about various types of computers, the components used in computer systems, and where the future of computing is leading us. Instruction on software packages includes the use of word processing, spreadsheets, email and the Internet. Prerequisite: Math modeling course or equivalent. 3 credits. Each semester.

L.BUS-230. Principles of Management.
A general introduction to a distinct process existing in the business organization. Emphasis is placed upon fundamental managerial concepts such as decision making and coordination; managerial planning; organizing and authority relationships and the nature of controlling in management. 3 credits. Each semester.

L.BUS-240. Principles of Marketing.
A managerial approach that integrates the theory and concepts a marketing manager must comprehend in order to make effective marketing decisions. Special attention is given to the areas of product, place, promotion and pricing. 3 credits. Each semester.

L.BUS-310. Business Statistics.
An introduction to basic statistical measurements. Sampling theory, including estimation of parameters, hypothesis testing and basic decision theory. Other topics include correlation analysis; time series analysis; seasonal fluctuations, trend fitting and cyclical measurement. Prerequisite: L.MAT-113 or above. 3 credits. Each semester.

L.BUS-317. Business Law I.
A study of the foundations of legal systems, of the role of business ethics and corporate social responsibility, of the formation and operation of contracts, and of the laws regarding negligence, property and government regulation of business. 3 credits. Each semester.

L.BUS-321. Data Applications and Analysis.
This course provides an in-depth study of spreadsheet and presentation applications. Focus is on analyzing and presenting data for business decisions. Prerequisite: L.BUS/CSC-120 or equivalent. 3 credits. Each semester.

L.BUS-322. Web Publishing I - Basic Authoring.
This course provides "hands-on" use of web publishing tools, practical experience in website design and management, and the exploration of how this technology can be used to enhance society. It includes introductory topics, such as developing a web page, transferring it to the web, basic design skills, web terminology, etc. Prerequisites: L.BUS/CSC-120 or equivalent. 1 credit. Each fall semester.

L.BUS-323. Web Publishing II - Advanced Authoring.
This course is a continuation of BUS 322. It expands on the tools and techniques introduced in the first course. Students are expected to research and experiment on their own topics of interest. Prerequisite: L.BUS-322 or equivalent. 1 credit. Each fall semester.

L.BUS-324. Web Publishing III - Site Development & Administration.
This course is a continuation of BUS 323. Students will study advanced topics and are expected to demonstrate their expertise by building and maintaining a comprehensive website. Prerequisite: L.BUS-323 or equivalent. 1 credit. Each fall semester.

L.BUS-325. Network Management.
A study of local area networks and network managers. Topics include the tools and techniques used in designing, installing and supporting networks. Students will install a LAN server and use management utilities to support it. Prerequisite: L.BUS/CSC-120. 3 credits. Each spring semester.

L.BUS-326. Visual Basic Programming.
This course teaches programming concepts using an object-oriented/event-driven language. It teaches how to take full advantage of Microsoft Visual Basic language by using a hands-on, task-driven approach to apply knowledge to real-world situations. Topics covered are sequential and random file access; database file access, parallel arrays, common dialog boxes, and error trapping. Prerequisite: L.BUS/CSC-120 or equivalent. 3 credits. Each fall semester.

L.BUS-327. Structured COBOL Programming.
This course introduces the student to the COBOL programming language, still one of the most popular business programming languages. The main focus of the course is to plan and code working computer programs. Topics covered include sequential file processing, common program structures such as decisions and loops, tables, data validation, batch and on-line processing, and direct access file processing. Prerequisite: L.BUS/CSC-120 and one programming elective, or equivalent. 3 credits. Spring semesters of odd numbered years.

L.BUS-329. Database Management.
This course studies databases from management’s viewpoint. Topics include the history of databases; views of the data–external, internal and conceptual; database models–hierarchical, network and relational; query facilities; SQL; database evaluation and selection; security; performance measurement; distributed databases; and database machines. Prerequisites: L.BUS/CSC-120, one programming elective, and L.MAT-113 or above. 3 credits. Each fall semester.

L.BUS-331. Organizational Behavior.
This course explores the roles of the employee within the organizational structure. Case studies are examined to show the theoretical and actual applications of the text material. Topics include leadership, motivation, interpersonal and group dynamics, stress, communication and the union’s role in the organization. Prerequisite: L.BUS-230. 3 credits. Each spring semester.

L.BUS-335. Human Resource Management.
An intensive study of the field of management which is concerned with planning, organizing and controlling the functions of procuring, developing, maintaining and utilizing a labor force. Prerequisite: L.BUS-230. 3 credits. Each semester.

L.BUS-338. Managerial Economics.
Analysis of cases dealing with executive economic decisions that are concerned with allocation of resources, application of price and distribution theory to problems of the firm and output, pricing, capital expansion, planning, control and profit analysis. Prerequisites: L.BUS-310, L.ECO-221, 222. 3 credits. Dependent upon staff and demand.

L.BUS-343. Marketing Management.
An experiential-based approach to the comprehensive study and analysis of the problems confronting marketing managers in the formation of marketing policies. Active learning assignments, a marketing simulation and a marketing plan may be included in the course. Prerequisite: L.BUS-240. 3 credits. Each semester.

L.BUS-344. Sales Management.
An application of the management approach to an analysis of the sales executive’s duties, responsibilities and role as decision-maker. The course explores the areas of recruiting, training, compensating, motivating and evaluating a sales force. Prerequisites: L.BUS-230 and 240. 3 credits. Fall semesters of odd numbered years.

L.BUS-345. Retail Administration.
Survey of retailing and its role in distribution. Management policy areas studied include administrative organization, locational decisions, buying, pricing, merchandising, sales promotion, personnel and overall planning and coordination in retailing firms. Analysis of illustrative cases. Prerequisites: L.BUS-230 and 240. 3 credits. Fall semesters of even numbered years.

L.BUS-346. Advertising/Marketing Communications.
A course to introduce students to advertising’s/marketing communication’s role as a vital tool in the distribution of goods and services. It is structured to meet the needs of those wishing to secure a solid foundation for further work in the field as well as aiding those who seek a basic knowledge of the place of advertising/marketing communication in the business and social environment. Prerequisite: L.BUS-240. 3 credits. Each spring semester.

L.BUS-348. International Marketing.
This course provides a global orientation to the study of marketing. The cultural environment of the global marketer is reviewed throughout every area of the course. All marketing decisions are studied through an understanding and appreciation of different cultures. Within this context, the course will cover how to assess global marketing opportunities and how to develop global marketing strategies. Prerequisite: L.BUS-240 or permission of Instructor. 3 credits. Each spring semester.

L.BUS-349. Consumer Behavior.
Provides the student with a usable, managerial understanding of consumer behavior, particularly as it relates to sales, marketing, advertising and promotion management. Consumers are studied in four ways: as individuals, as decision-makers, as members of a group, and as members of a culture. Prerequisite: L.BUS-240. 3 credits. Each fall semester.

L.BUS-350. Introduction to Financial Management.
A basic course covering the principles of business financial management focusing on the tools of financial management, the financial environment, working capital management, capital budgeting, the cost of capital and capital structure decisions. Prerequisites: L.ACC-225, 226 and L.MAT-113 or above. 3 credits. Each semester.

L.BUS-352. Investments.
An introductory course covering the principles of security analysis and valuation from both the individual and institutional investor perspective. Topics include: analysis and valuation of stocks, bonds, and derivatives; international investment opportunities; and the organization and function of the securities markets. Prerequisite: L.BUS-350. 3 credits. Each spring semester.

L.BUS-353. Financial Institutions.
The course presents an overview of financial markets and the types of financial institutions and how those institutions impact the flow and cost of funds through the domestic and global economy. Markets discussed include money markets, capital markets, primary and secondary markets, mortgage markets, stock, bond and derivative markets as well as international currency markets. Institutions discussed include commercial banks, credit unions, savings institutions, pension funds, life insurance companies, mutual funds, investment banks and other specialty institutions. Prerequisites: L.BUS-350 or instructor approval. 3 credits. Each fall semester.

L.BUS-354. Personal Financial Planning.
This course overviews personal financial planning issues and tools that a new college graduate will be faced with upon graduation. Topics include: goal setting, managing cash and budgeting, an introduction to taxes, wise use of credit, purchasing decisions, risk management, investments and retirement and estate planning. Personal ethics and values and the role they play in personal finance will also be addressed. The course is targeted to both business and non-business majors. Those students desiring finance major elective credit will be required to complete an additional project to be determined in consultation with the instructor. Prerequisites: Junior standing or above. 3 credits. Each spring semester.

L.BUS-355. Risk Management & Insurance.
An overview of the concepts and applications of risk management techniques from the perspective of the individual and the organization. Emphasis will be placed on the role of the risk manager and the use of risk retention and risk transfer. The insurance issues facing the insurance industry. 3 credits. Dependent upon staff and demand.

L.BUS-358. L.I.F.E. Portfolio Applications I.
This course applies financial theory to the actual management of an investment portfolio. In this course students will begin to actively manage money in the stock market for the Loras College endowment. The course is a combination of lecture and independent research, with heavy emphasis on outside projects. Students will learn the basics of security research and analysis and the interpretation and application of economic data to investment management decisions. Each semester students will be expected to present their methodology, reasons and results to members of the administration and or board of regents. Prerequisite: L.BUS-352 and Instructor Permission. 3 credits. Each semester.

L.BUS-370. International Business.
An introduction to issues facing organizations in a global economy. Includes a study of the environmental factors affecting international business; the economic theories behind international trade, development and investment; and the strategies and structure of multinational enterprises. 3 credits. Each fall semester.

L.BUS-394, 494. Business Internship.
Provides college credit for work experiences related to the major program. Proposals arranged in consultation with Division faculty and approved by Division chair. Credit varies. Internships cannot be used for electives in the business majors or minors.

L.BUS-395. Business Topics.
An analysis of selected topics of current interest in business.

L.BUS-418. Business Law II.
A continuation of Business 317. Topics include the law of partnerships and corporations, sales contracts, negotiable instruments, secured transactions, bankruptcy, agency, insurance, and trusts and estates. Prerequisite: L.BUS-317 or permission of instructor. 3 credits. Each spring semester.

L.BUS-428. Systems Analysis and Design.
Includes a study of information systems and the role of the systems analyst; the tools and techniques of systems analysis and design; and the systems development life cycle. Students study and design a computer information system. Prerequisites: L.BUS/CSC-120, one programming elective, and senior standing. 3 credits. Each fall semester.

L.BUS-432. Operations Management.
This course is designed to acquaint students with the long-run and short-run problems that must be solved in managing the operations function of both manufacturing and service industry firms. Major problem areas including plant location; process design; technology selection; production scheduling; product quality and factor allocation are examined and decisions rendered employing both quantitative and graphic methods. Prerequisites: L.BUS-230, 310 and L.MAT-113 or above. 3 credits. Each fall semester.

L.BUS-447. Marketing Research.
A comprehensive and practical study of the full range of activities involved in marketing research in business and other organizations. The entire research process is examined through the completion of a formal research project. Prerequisites: L.BUS-240 and 310. 3 credits. Each fall semester.

L.BUS-451. Intermediate Financial Management.
This course is an intensive study of corporate financial management. The emphasis is on a detailed in-depth analysis of various topics of corporate financial management including risk analysis, capital asset pricing model, valuation, capital budgeting, capital structure decisions and cost of capital. Cases, both individual and group will be used to assess student mastery of these topics. The changing values of corporate governance and social responsibility are also discussed. As this course leads directly into the capstone course, L.BUS-487, senior thesis topic development is also explored. Prerequisite: L.BUS-350 and senior standing. 3 credits. Each fall semester.

L.BUS-452. Portfolio Management.
This course explores the principles and effects of combining securities in a portfolio with the goal of maximizing return and minimizing risk. Topics include: modern portfolio theory, portfolio management strategies for stocks and bonds, use of derivatives in portfolio management, and portfolio performance evaluation. Prerequisite: L.BUS-352. 3 credits. Dependent upon staff and demand.

L.BUS-458. L.I.F.E. Portfolio Applications II.
Continuation of L.BUS-358. Students will be responsible for the management and performance of the investment portfolio. Duties will include determining economic conditions, formulating the asset and sector allocations, researching and investing in individual securities that fit the parameters of the class model, monitoring performance results in comparison to the appropriate benchmark, and executing purchases and sales when appropriate. Prerequisites: L.BUS-358 and Instructor’s Permission. Not for finance elective credit. 3 credits. Each semester.

L.BUS-461. Human Resource Selection and Evaluation.
Design and implementation of an effective selection and performance evaluation program including: role of job analysis; reliability and validity of human resource measures; description and evaluation of selection instruments (application form, reference check, interview and tests) and performance evaluation methods; legal and ethical issues. Prerequisites: L.BUS-310 and 335. 3 credits. Spring semesters of odd numbered years.

L.BUS-462. Training and Development in Business.
This course, designed primarily for students majoring in human resources management, introduces students to psychological theories and business practices related to training and development programs in business. The course views training as a systematic process involving several stages: assessing needs, establishing training objectives, designing training programs and evaluating the effectiveness of training. See L.PSY-462. Prerequisites: L.PSY-101, L.PSY-211 (or L.BUS-310), and L.BUS-335. 3 credits. Spring semesters of even numbered years.

L.BUS-463. Compensation and Benefits.
Development and administration of an effective compensation system including; wage levels and external equity; wage structures and internal equity; individual pay systems; employee benefits and services; legal requirements and ethical issues. Prerequisite: L.BUS-335. 3 credits. Fall semesters of odd numbered years.

L.BUS-464. Employment Law.
A study of law as it applies to the employment relationship. Human resource legal issues discussed include; discrimination and equal employment opportunity; compensation; termination; safety and health; labor law; privacy. Prerequisite: L.BUS-335. 3 credits. Fall semesters of even numbered years.

L.BUS-486. Marketing Seminar.
This course is designed as the capstone requirement for those students who are majoring in Marketing. A comprehensive thesis on an approved topic and professional presentation are required. Discussion will center around current literature in marketing. Prerequisites: L.BUS-240, 343, 447 plus at least one marketing elective (L.BUS-344, 345, 346 or 349) and senior standing. 3 credits. Each spring semester.

L.BUS-487. Advanced Applications in Finance.
As the capstone course of the Finance major the primary emphasis is placed on the preparation and professional presentation of a thesis on an approved topic in an area of the student’s interest in finance. In addition, group cases which focus on advanced concepts in finance will be required. In those cases the emphasis will be on applying theory and research to determine the problem, developing alternative courses of action, writing up an analysis with justification, presentation of those findings and recommendation justification and defense. Prerequisites: L.BUS-350, 352, 451 and senior standing. 3 credits. Each spring semester.

L.BUS-488. Business Policies.
Designed to develop skill in identifying problems, analyzing them, devising realistic solutions and making oral and written presentations of the results. A computer simulation is also utilized. Prerequisites: completion of the Business Administration core courses, and senior standing. 3 credits. Each spring semester.

L.BUS-489. System Implementation.
As the capstone course of the MIS major, the primary emphasis is the preparation and professional presentation of a thesis on an approved topic. In addition, ethics cases are analyzed, an electronic major portfolio is created, and each student develops a complete computerized information system including user interviews, systems analysis, design and testing, implementation and documentation. MIS minors will complete ethics cases, an electronic portfolio, a research paper, and a significant computer project. Prerequisites for MIS majors: L.BUS-428; for MIS minors: L.BUS/CSC-120 and 6 credits MIS courses. 3 credits. Each spring semester.

L.BUS-495. Business Topics.
An analysis of selected topics of current interest in business.