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Business Program

Purpose Statement

The department commits itself to fostering students’ learning so that they are prepared for professional pursuits and/or graduate study.

The department achieves this purpose when its graduates can

  • demonstrate knowledge, understanding, and application of the principles, concepts, and tools in each key content area of their major;
  • perform research, analysis, and critical thinking necessary to integrate key content from various business disciplines and other dimensions of society;
  • perform effectively in groups;
  • persuasively communicate business-related ideas in a variety of media and settings.
  • develop a global mindset recognizing the diversity of cultures, practices, traditions, and philosophies. Be able to adapt to a changing world.

One major and one interdisciplinary major are available within the Department of Business Administration. Within the Business Administration major, there are four emphasis areas, and a student must choose at least one area in which to concentrate their study: Management, Marketing, Finance, and Accounting.

Core Requirements for all Business Majors: 41 hours

G-BA 101 Introduction to Business (3 hours)
EC 201 Principles of Economics: Macro (3 hours)
EC 204 Principles of Economics: Micro (3 hours)
AC 205 Financial Accounting (3 hours)
AC 206 Managerial Accounting ª3 hours)
*G-CM 218 Business Communication Applications (3 hours)
G-BA 220 Business Applied Statistics (4 hours)
BA 221 Marketing (3 hours)
BA 224 Principles of Management (3 hours)
BA 315 Business Law (3 hours)
BA/AC 320 Management/Accounting
Information Systems3 hours
BA 325 Financial Management I (3 hours)
BA 375 Business Ethics (1 hour)
*BA 475 Business Strategy and Policy (3 hours)

Accounting Emphasis

AC 305 Intermediate Accounting I (3 hours)
AC 306 Intermediate Accounting II (3 hours)
AC 315 Cost Accounting (3 hours)
AC 316 Individual Income Tax (3 hours)
AC 437 Principles of Auditing (3 hours)

Hours in ACCOUNTING: 15 hours
Business Elective Hours: 6 hours
41 Core + 15 ACCOUNTING + 6 Elective = 62 total hours

Management Emphasis

BA 324 Organizational Behavior (3 hours)
*BA 339 Human Resource Management (3 hours)
BA 342 International Business (3 hours)
BA 490 Operations Management (3 hours)

Hours in MANAGEMENT: 12 hours
Business Elective Hours: 9 hours
41 Core + 12 MANAGMENT + 9 Elective = 62 total hours

Financial Emphasis

AC 305 Intermediate Accounting I (3 hours)
EC 451 Money and Banking (3 hours)
BA 426 Financial Management II (3 hours)
BA 428 Investments (3 hours)

Hour in FINANCE: 12 hours
Business Elective Hours: 9 hours
41 Core + 12 FINANCE + 9 Elective = 62 total hours

Marketing Emphasis

BA 322 Advertising and Promotion (3 hours)
BA 327 Consumer Behavior (3 hours)
BA 342 International Business (3 hours)
BA 427 Marketing Research (3 hours)

Hours in Marketing: 12 hours
Business Elective Hours: 9 hours
41 Core + 12 MARKETING + 9 Elective =62 total hours

Departmental Minors

Business Administration Minor: 24 total hours

G-BA 101 Introduction to Business (3 hours)
AC 205 Financial Accounting (3 hours)
AC 206 Managerial Accounting (3 hours)
EC 202 Survey of Economics (3 hours)
BA 224 Principles of Management (3 hours)
BA 221 Marketing (3 hours)
BA 315 Business Law (3 hours)
BA 325 Financial Management I (3 hours)

International Business Minor: 18 total hours

BA 342 International Business (3 hours)
G-PS 125 International Relations (3 hours)
EC 451 Money and Banking (International Finance) (3 hours)

Choose 2 trips or 2 Modern Language classes or any combination for 6 hours

*G-BA 342IT International Travel (2 trips) (6 hours)
*G-ML 108 Spanish I (3 hours)
*G-ML 109 Spanish II (3 hours)

3 Hours in supporting courses: World Religions, Intercultural Communication, non-US modern history or Political Science

Other Business Concentrations

In addition to the prescribed majors outlined above, there are other ways in which a student may seek concentration in fields within this department.

Technology Major: Automotive Restoration Management

The goal of the Automotive Restoration Management option is to develop graduates who are prepared for professional pursuits and/or graduate study.

Music Major: Music Business Administration

Art Major: Graphic Design Marketing

Interdisciplinary Alternatives

McPherson College offers students the opportunity to create their own major courses of study. Proposals for such majors must be approved by the Educational Policies Committee and must satisfy criteria for acceptable levels of academic rigor and integrity. The interdisciplinary section of this catalog provides more information. Students have successfully proposed such personalized programs in business-related areas such as Sports Management and Marketing.

CPA Study

Students who are currently interested in sitting for the CPA (Certified Public Accountants) exam must meet the requirements as determined by the State Board of Accountancy. One of the requirements to sit for the CPA exam is 150 hours of college credit. McPherson College advises students pursuing a career in public accounting to complete their undergraduate degree at McPherson College and then complete a master’s degree in business or accounting. To facilitate this approach, McPherson College has entered into articulation agreements with Emporia State University, Wichita State, and Fort Hays State. For additional information, contact Professor Rod Gieselman at 620-242-0539 or Professor David O’Dell at 620-242-0541.

 




Business Course Descriptions

Economics

EC 201 Principles of Economics: Macro

3 hours
The first semester of general economics deals with these major topics: supply and demand, the market system, the role of government; unemployment, economic fluctuations; fiscal and monetary policy approaches to economic stabilization; impact of international trade issues on domestic economic problems. (Fall)

EC 202 Survey of Economics

3 hours
This course is designed to provide non-business majors with a basic understanding of key economic principles from both the “macro” and “micro” perspectives. Topics will include: supply and demand, economic goals and measures, market types, economic fluctuations, monetary and fiscal policy, and international trade. (even Spring)

EC 204 Principles of Economics: Micro

3 hours
The second semester of general economics study. The course focuses on concepts of supply and demand in the context of perfect and imperfect product and resource markets. In addition, students apply economic concepts to a variety of current topics, labor unions, income distribution, and health care. It is recommended, but not required, to take EC 201 prior to EC204. (Spring)

EC 451 Money and Banking

3 hours
A study of the nature and function of money, its relation to prices, and the many functions of the American banking system. Prerequisite: EC 204, AC 206. (Fall)

Accounting

AC 205 Financial Accounting

3 hours
A study of the elements of accounting, the balance sheet, income statement, principles of double entry accounting, the process of closing books, and depreciation methods. (Fall)

AC 206 Managerial Accounting

3 hours
A continuation of Financial Accounting, with the emphasis on various entity capital structures, analysis and interpretation of financial statements, statement of cash flows, present value concepts, and introduction to cost accounting. Prerequisites: AC 205. (Spring)

AC 305 Intermediate Accounting I

3 hours
The first of two in-depth financial accounting courses. The conceptual framework, critical analysis of generally accepted accounting principles, and applications are stressed. Topics include the balance sheet, income statement, the statement of cash flows debt financing, equity financing, earnings per share, and accounting changes and error correction. Prerequisites: EC 204,C or better in AC 205. (Fall)

AC 306 Intermediate Accounting II

3 hours
The second of two in-depth financial accounting courses. Continued in-depth analysis of generally accepted accounting principles and related applications are emphasized. Topics include the earnings management, revenue cycle, revenue recognition, inventory and cost of goods sold, non-current operating assets, investments, leases, income taxes, pensions, other payroll topics, derivatives, contingencies, etc. Prerequisites: AC 305.(Spring)

AC 315 Cost Accounting

3 hours
The study of standard costing, cash budgeting, process costing, job order costing and their applications to the management decision process. Prerequisite: AC 206, BA 224. (Fall, even years)

AC 316 Individual Income Tax

3 hours
The study of individual income tax theory, planning and application. Prerequisites: EC 204, AC 206, BA 224. (Fall, odd years)

AC 320 Accounting Information Systems

3 hours
The concept of accounting information systems refers to all accounting procedures designed and implemented to ensure that transactions are properly recorded, processed, and disclosed. This course will use the case method of instruction to assist student skill development in evaluation and construction of accounting systems through application of the systems approach. Basic systems concepts and computer resources will be addressed concurrently with BA 320. Students may not receive credit for both AC 320 and BA 320. Prerequisites: AC 206, BA 224. (Spring,)

AC 437 Auditing

3 hours
The following topics are included in this course: theory and application of the following concepts: materiality, risk, internal control evaluation, and audit evidence (analytical and substantive). Students will learn to evaluate the risk of financial statement assertions and choose appropriate audit procedures. This course concentrates on auditing standards generally accepted in the United States as issued by the AICPA auditing standards board and PCOAB. Other items include financial statement fraud, independence, legal liability, and ethical responsibilities. Prerequisites: AC 306, 315, and 320. (Spring, odd years)

Business Administration

G-BA 101 Introduction to Business

3 hours
An introduction to the study of business for all students entering the business program at McPherson College. The course will highlight topics such as the environment of business, current business trends, business management, management of human resources, marketing management, information management, and managing financial resources. In addition, the course will examine McPherson College curriculum and resources, career aspirations, and necessary business skills. (Fall and Spring)

G-CM 218 Business and Professional Communication

3 hours (Language Intensive)
Business and Professional Communication is a course designed to expose students to strategies for effective communication in a business environment. Students will deal with both oral and written forms of communication. The course will also deal with the effective communication of information through the use of spreadsheets and graphs, as well as on-line communication skills that are essential to success in today’s business environment. Students will learn effective techniques for using technology to enhance an oral presentation as well. (Fall)

G-BA 220 Business Applied Statistics

4 hours
A study of the principles of descriptive statistics, probability, sample and population relationships, estimation, and hypothesis testing. The student will receive a solid foundation in mathematical theory, practical application, and MS Excel. Prerequisites: ID119 Intermediate Algebra with a grade of C or better, or three years of high school mathematics and an ACT mathematics score of 22, or an appropriate score on the departmental placement test. (Spring)

BA 221 Marketing

3 hours
A study of marketing institutions and the functions which they perform: pricing, promotion, distribution, and product development. The course will also address effects of external domestic and international environments on marketing strategy. (Fall)

BA 224 Principles of Management

3 hours
An introductory study of management based on the four primary functions of management: planning, organizing, leading, and controlling. Students will also have the opportunity to survey a variety of management literature. (Fall and Spring)

G-BA 230 Personal Finance

3 hours
This course provides an overview of personal and family financial planning with an emphasis on financial recordkeeping, planning your spending, tax planning, consumer credit, making buying decisions, purchasing insurance, selecting investments, and retirement and estate planning. This class is recommended for non-business majors in their junior or senior years. (Fall)

BA 235 Entrepreneurship and Small Business Management

3 hours
Focus is on the start-up and development of a small business. Topics include acquisition of capital; design of accounting systems and cash control; principles of taxation and payroll deductions; financial statement analysis; legal issues related to workers’ compensation, product liability, contracts fundamentals, and forms of business organization; election, hiring, and appraisal of employees; marketing of product; inventory control; location and facilities analysis; and regulatory impacts. Course requires preparation of a complete business plan. Prerequisite: AC 205. (Fall)

BA 315 Business Law

3 hours
This course is designed to help students master the fundamental and legal and regulatory knowledge necessary to perform in today’s business environment. Students will develop an understanding of how to solve a legal problem and will study topics such as contracts, sales governed by the UCC, bankruptcy, principle- agent relationships and employer/employee legal issues. (Spring)

BA 320 Management Information Systems

3 hours
The concept of management information systems refers to all management procedures designed and implemented to insure that data related to the basic goals, strategies, and operations of the business entity are properly and timely collected, processed, and reported. This course will use the case method of instruction to assist student skill development in evaluation and construction of management systems through application of the systems approach. Basic systems concepts and computer resources will be addressed concurrently with AC 320. Students may not receive credit for both BA 320 and AC 320. Prerequisites: BA 224. (Spring)

BA 322 Advertising and Promotion

3 hours
Advertising and promotion is a course that directly relates to marketing and how advertising drives the company’s’ marketing plan. The class will explore all forms of print and electronic media and learn to evaluate the effectiveness of advertising. The class will revolve around applying material from the text, to developing and executing an actual advertising plan. Client meetings will be held with the organization we will be preparing advertising. After the completion of this course, students will have a full understanding of what goes into an advertising campaign. The students will have a greater appreciation for what it takes to produce a 30-second commercial and budgeting, negotiating and persuading the client. Prerequisite: BA 221 (Fall)

BA 324 Organizational Behavior

3 hours
In depth exploration of the management functions of organizing and leading/directing. Emphasis on individual motivation, group process and team management, leadership styles and effectiveness, organizational communication, decision-making, managing global workforces and diversity, management of change, organizational culture, and organizational design. Prerequisite: BA 224 Principles of Management (Fall)

BA 325 Financial Management I

3 hours
A study of concepts in financial management including evaluation of financial performance, valuation of securities, and capital budgeting. This course includes a term project designed to evaluate the financial performance of publicly traded companies within an industry. Prerequisites: AC 206 (Fall)

BA 327 Consumer Behavior

3 hours
This course is designed to help students evaluate why people do what they do when they buy something. Students will examine behavioral science concepts applicable to understand the buyer’s behavior and investigate specific processes of consumer decision-making. Topics will include: purchase decisions, reference groups; and sociological, psychological, and economic aspects of consumer behavior. Additional topics will include: environmental influences on consumer evaluation, consumer attitudes, and post-purchase evaluation. Prerequisite: BA 221. (Spring)

BA 339 Human Resource Management

3 hours (Language Intensive)
A study of the processes, problems, and opportunities associated with the human resources deployed by an organization. Major topics include planning, staffing, training and development, compensation, employee relations. Prerequisite: BA 224. (Spring)

BA 342 International Business

3 hours
A study from the manager’s perspective in the fields of international trade and investment, balance of payments, international financial markets and monetary systems, national trade policy and laws. Also addresses cultural variables in business, and examines how each of a number of basic management activities must be dealt with differently in the international environment than in a purely domestic setting. Prerequisites: EC 204, BA 224. (Fall)

BA 375 Business Ethics

1 hour (Junior Seminar)
This course is a study of the ethical issues that confront persons within the context of business. It examines frameworks for ethical analysis and contemporary business issues most likely to confront students with ethical questions in the future. These frameworks are applied in multiple case studies. Prerequisites: Prior completion of or contemporaneous enrollment in all other major requirements except courses numbered in the 400’s. (Spring)

BA 426 Financial Management II

3 hours
The continuing study of financial management concepts including cost of capital, capital structure, dividend policy, working capital management, lease financing, corporate restructuring, and international finance. Prerequisites: BA325 and AC305. (Spring)

BA 427 Marketing Research

3 hours
This course concerns the use of marketing research as an aid to making marketing decisions. It focuses on the different types of marketing research (qualitative and quantitative) as well as the complex issues at each stage of the marketing research process, including research objectives, questionnaire construction (specifically for survey research), sampling, data collection, and statistical analysis. Additionally this course addresses how the information used to make marketing decisions is gathered and analyzed.

BA 428 Investments

3 hours
A study of investment media, sources of investment information, the stock risk, modern portfolio theory, and the analysis and evaluation of industries and firms. As part of this class students manage $100,000 of the college’s endowment. Prerequisite: EC 204, AC 206, and BA 325(Spring)

The course focuses on the different types of marketing research (qualitative and quantitative) as well as the complex issues at each stage of the marketing research process, including research objectives, questionnaire construction (specifically for survey research), sampling, data collection, and statistical analysis. Accordingly, this course is appropriate for both prospective users of research results and prospective marketing researchers. Prerequisite: BA 221 , BA322, BA327. (Spring)

BA 475 Business Strategy and Policy

3 hours (Senior Seminar and Language Intensive)
This is a capstone course for all Business majors. This course is an intense study of the role of strategic planning in the success of an organization. It provides a framework for such planning and the practical application of strategic planning through case studies. Prerequisites: Prior completion of or contemporaneous enrollment in all other major requirements. (Spring)

BA 490 Operations Management

3 hours
The course builds on the systematic application of quantitative techniques to business problems. Techniques such as Six Sigma will be addressed as a practical application to base management decisions in manufacturing settings as well as service industries. Prerequisites: BA224. (Fall)

Individualized Courses Available

295/495 Field Experience (1-4 hours)
299/499 Independent Study (1-4 hours)
388 Career Connections (1-12 hours)
445 Readings and Research (1-4 hours)