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ACCOUNTING (ACCT)
Labovitz School of Business and Economics
Accounting
 
ACCT 2001 - Principles of Financial Accounting
(3.0 cr; Prereq-Minimum 15 credits or college consent; A-F only, fall, spring, summer, every year)
Concepts of financial accounting and external reporting. Nature and measurement of assets, liabilities, equities, revenues, expenses. Emphasis on use and understanding of external financial statements.



ACCT 2002 - Principles of Managerial Accounting
(3.0 cr; Prereq-2001, LSBE student or college consent; A-F only, fall, spring, summer, every year)
Information accumulation, analysis, and use for managerial decisions. Cost-volume-profit relationships; short- and long-term decisions; standards and budgets; segment and managerial performance evaluation.



ACCT 2005 - Survey of Accounting (LE CAT8)
(3.0 cr; Prereq-Not open to LSBE students or non-LSBE acct minors; A-F only, spring, offered periodically)
Accounting information presented in published financial statements. Debt financing, stock issuance, alternative methods of accounting. Bookkeeping topics not emphasized.



ACCT 3001 - Technology Tools in Accounting
(1.0 cr; Prereq-LSBE candidate; A-F only, fall, spring, every year)
Introduction to basic and advanced applications of spreadsheet, database and other accounting specific to solve accounting problems.



ACCT 3101 - Intermediate Accounting I
(3.0 cr; Prereq-LSBE candidate or non-LSBE accounting minor or college consent; A-F only, fall, spring, summer, every year)
Review of financial accounting standard setting, conceptual framework, and accounting process. Income statement, balance sheet, and statement of cash flows. Present value concepts, cash, receivables, inventories, fixed assets, current liabilities, and contingencies.



ACCT 3102 - Intermediate Accounting II
(3.0 cr; Prereq-A grade of C or better in 3101, LSBE candidate or non-LSBE accounting minor or college consent; A-F only, fall, spring, every year)
Long-term liabilities, stockholders' equity, earnings per share, revenue recognition, and tax allocation. Investments, pensions, leases, accounting changes and error analysis, financial statement analysis, and disclosures in financial statements.



ACCT 3201 - Cost Accounting
(3.0 cr; Prereq-LSBE candidate or non-LSBE accounting minor or college consent; A-F only, fall, spring, every year)
Determining manufacturing costs, e.g., in a job order or process manufacturing environment. Cost-volume-profit relationships, activity- based accounting, standard costing techniques.



ACCT 3301 - Accounting Information Systems
(3.0 cr; Prereq-LSBE candidate or non-LSBE accounting minor or college consent; credit will not be granted if already received for 3110.; A-F only, fall, spring, every year)
Overview of the characteristics and functions of modern accounting information systems. Focus on system use, internal controls, security issues, and system design and implementation in computerized accounting procedures within the business organization. Develop proficiency in the use of accounting software.



ACCT 3401 - Individual Income Taxation
(3.0 cr; Prereq-Credit will not be granted if already received for ACCT 3152 or 4152; LSBE candidate or approved non-LSBE accounting minor or college consent; A-F only, fall, spring, summer, every year)
Provides an understanding of how taxes impact personal financial decisions. Takes tax planning/minimization perspective and provides basic information on reporting tax positions to the IRS. In addition to tax planning and compliance, the student will be exposed to basic tax concepts.



ACCT 3402 - Advanced Business Taxation
(3.0 cr; Prereq-3401, LSBE candidate or college consent; credit will not be granted if already received for 3151; A-F only, fall, every year)
Understanding how taxes impact basic business and entrepreneurial decisions. It takes a tax planning/minimization perspective and presents advanced tax research and resource materials available on the web.



ACCT 3701 - Small Business Initiative in Accounting
(1.0 - 2.0 cr [max 3.0 cr]; Prereq-3001, 3101, LSBE candidate and instructor consent; S-N or Aud, fall, every year)
Provide practical experience in the development of budgets, analysis of financial statements and other types of small business accounting issues.



ACCT 3705 - Volunteer Income Tax Assistance
(1.0 - 2.0 cr [max 3.0 cr]; Prereq-department consent, 2 credit first registration, 1 credit repeat; credit will not be granted if already received for 3096; S-N only, spring, every year)
Provides volunteer experience preparing tax returns for low and moderate income Duluth residents through both classroom and hands-on training.



ACCT 3796 - Internship in Accounting
(2.0 - 6.0 cr [max 6.0 cr]; Prereq-3101, department consent; repeatable for a max of 6 credits; 3 repeats allowed; max 2 credits may be applied to Active Learning Experience.; S-N only, fall, spring, summer, every year)
Participation in an approved program with professional accounting firms, businesses, government agencies, or non-profit organizations. Requires minimum 200 hours work experience, assigned written reports, and performance evaluations. Students can take an additional credit for each additional 100 hours of work, up to a maximum of 6 credits. 3 repeats allowed, max 2 credits may be applied to Active Learning Experience.



ACCT 3991 - Independent Study
(1.0 - 3.0 cr [max 3.0 cr]; Prereq-BAc candidate with 80 cr, department consent; credit not available as accounting elective; may take ACCT 3191 and 3991 for a total of 3 credits.; A-F only, fall, spring, summer, every year)
For students wishing to do special work in an accounting area that extends beyond, or in greater depth than, regular course offerings.



ACCT 4101 - Auditing
(3.0 cr; Prereq-3102, 3110 or 3301, LSBE candidate or college consent; no grad credit; credit will not be granted if already received for 4160.; A-F only, fall, spring, every year)
Theory and procedures in audit process.



ACCT 4501 - Advanced Accounting
(3.0 cr; Prereq-3102, LSBE candidate or college consent; A-F only, fall, spring, offered periodically)
Topics including consolidated financial statements, partnership, and fiduciary accounting.



ACCT 4505 - International Accounting
(3.0 cr; Prereq-3102, LSBE candidate or college consent; A-F only, fall, spring, offered periodically)
International comparative analysis, accounting measurement, and reporting issues unique to multinational business transactions and multinational enterprises; international financial markets; foreign exchange accounting; international audit environment; international taxation and transfer pricing; harmonization of worldwide accounting.



ACCT 4510 - Fund and Not-For-Profit Accounting
(3.0 cr; Prereq-LSBE candidate or college consent; A-F only, summer, every year)
Accounting concepts and processes applied to government, hospital, education, charity, and other not-for-profit entities.



ACCT 4600 - Employee Benefit and Retirement Planning
(3.0 cr; Prereq-Acct 3401, LSBE candidate, no grad credit; A-F or Aud, fall, offered periodically)
This course will provide preparation for professionals who will be providing employee benefits and retirement planning services for clients. The course will focus on the importance of retirement planning, an evaluation of the client's needs, and understanding of Social Security and Medicare, and qualified and non-qualified retirement plans.



ACCT 4795 - Special Topics (Various Titles to be Assigned)
(1.0 - 3.0 cr [max 9.0 cr]; Prereq-3101, LSBE candidate or college consent; A-F only, fall, spring, offered periodically)
Enables students, working closely with the instructional faculty, to explore one or more contemporary accounting issues in substantial depth.



 
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