Crookston campus

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Crookston Campus

Finance B.S.

Business
Academic Affairs
  • Program Type: Baccalaureate
  • Requirements for this program are current for Fall 2023
  • Required credits to graduate with this degree: 120
  • Required credits within the major: 62
  • Degree: Bachelor of Science
The importance of finance for organizations today cannot be underestimated. The ability to understand the markets and how businesses raise and invest capital is highly looked upon among businesses and organizations. Finance is a very broad degree program covering such diverse topics as corporate finance, insurance and risk management, estate planning, investment and money, and banking and financial institutions. Organizations need individuals with the knowledge to calculate contemporary financial measures of performance and risk, as well as the ability to explain how the financial services component industries interact with each other. Graduates from this program will have the skills and experience to compete effectively for entry-level employment positions, such as financial analysts, personal financial advisers, actuaries and other positions in securities, commodities, and financial services. Program outcomes for graduates: • Describe the dimensions of performance and risk relevant to financial services companies • Assess consumer financial needs and the mechanisms available for fulfilling these needs • Describe and apply financial concepts, theories, and tools • Evaluate the role of technology and the legal, ethical, and economic environment as it relates to financial services • Prepare a personal financial plan for clients
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
  • completely online (all program coursework can be completed online)
  • primarily online (at least 80% of the instruction for the program is online with short, intensive periods of face-to-face coursework)
  • partially online (between 50% to 80% of instruction is online)
Admission Requirements
For information about University of Minnesota admission requirements, visit the Office of Admissions website.
General Requirements
All students are required to complete general University and college requirements. For more information, see the graduation requirements.
Program Requirements
A maximum of two “D” grades are allowed for business, finance, and technology courses required in the program. This includes grades earned at UMC or transferred in from another institution.
Business Core
Take 8 or more course(s) totaling 22 or more credit(s) from the following:
· ACCT 2101 - Principles of Accounting I (3.0 cr)
· ACCT 2102 - Principles of Accounting II (3.0 cr)
· FIN 3100 - Managerial Finance (3.0 cr)
· GBUS 1005 - Orientation to Online Learning (1.0 cr)
· GBUS 3107 - Legal Environment in Business (3.0 cr)
· MGMT 3200 - Principles of Management (3.0 cr)
· MKTG 3300 - Principles of Marketing (3.0 cr)
· Take 3 or more credit(s) from the following:
· FIN 3900 - Internship (1.0-3.0 cr)
Finance Core
Take 13 or more course(s) totaling 37 or more credit(s) from the following:
· ACCT 3010 - Managerial Accounting (3.0 cr)
· ACCT 4404 - Income Tax I (3.0 cr)
· FIN 3020 - International Financial Management (3.0 cr)
· FIN 3105 - Corporate Finance (3.0 cr)
· FIN 3110 - Retirement and Estate Planning (3.0 cr)
· FIN 3115 - Insurance and Risk Management (3.0 cr)
· FIN 3120 - Money, Financial Markets and Institutions (3.0 cr)
· FIN 3125 - Investments (3.0 cr)
· FIN 3126 - Financial Modeling and Valuation (3.0 cr)
· GBUS 3100 - Career & Professional Development (1.0 cr)
· GBUS 3300 - Business Analytics (3.0 cr)
· GBUS 3500 - Business Ethics (3.0 cr)
· ITM 3020 - Introduction to Management Information Systems (3.0 cr)
Electives
Take 1 or more course(s) totaling 3 or more credit(s) from the following:
· ACCT 3220 - Accounting Systems (3.0 cr)
· ACCT 4405 - Income Tax II (3.0 cr)
· ACCT 4420 - Income Tax Preparation (3.0 cr)
· ACCT 4512 - CPA Review Course--Financial Reporting and Accounting (3.0 cr)
· AGEC 3640 - Agricultural Finance and Valuation (3.0 cr)
· HSM 3270 - Health Care Finance (3.0 cr)
· MGMT 4800 - Strategic Management (3.0 cr)
· SRM 3012 - Sport Finance and Economics (3.0 cr)
· COMM 3008 - Business Writing (3.0 cr)
or COMM 3704 - Business and Professional Speaking (3.0 cr)
Liberal Education
This program requires a minimum of 40 credits of liberal education and completion of the ten goal areas of the Minnesota Transfer Curriculum. The following are specific required liberal education courses.
Take 8 or more course(s) totaling 24 or more credit(s) from the following:
· COMP 1011 - Composition I [COMMUNICAT] (3.0 cr)
· COMP 1013 - Composition II [COMMUNICAT] (3.0 cr)
· ECON 2101 - Microeconomics [HI/BEH/SSC] (3.0 cr)
· ECON 2102 - Macroeconomics [HI/BEH/SSC] (3.0 cr)
· MATH 1150 - Introduction to Statistics [MATH THINK] (3.0 cr)
· PSY 1001 - General Psychology [HI/BEH/SSC] (3.0 cr)
· COMM 1101 - Public Speaking [COMMUNICAT] (3.0 cr)
· MATH 1031 - College Algebra [MATH THINK] (3.0 cr)
or MATH 1250 - Precalculus [MATH THINK] (4.0 cr)
or MATH 1271 - Calculus I [MATH THINK] (4.0 cr)
or MATH 1272 - Calculus II (4.0 cr)
Technology
Take 1 or more course(s) totaling 3 or more credit(s) from the following:
· AGEC 2310 - Agribusiness Financial Records (3.0 cr)
· CA 1020 - Spreadsheet Applications (3.0 cr)
Open Electives
Students must take enough open electives credits to meet the 120 credit graduation requirement. The number of credits needed depends on liberal education course selections. Approximately 15 credits will be needed.
Program Sub-plans
A sub-plan is not required for this program.
Online
The online finance BS program's curriculum is identical to the on-campus finance BS program with the following exceptions: FIN 3900 (3 cr) moves from a Business Core to an Elective. Take 19 credits from Business Core instead of 22 credits. Take 6 credits from Electives instead of 3 credits.
  
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ACCT 2101 - Principles of Accounting I
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Concepts of accounting cycle, cash, accounts receivable, inventories, and plant assets. prereq: Math 1031
ACCT 2102 - Principles of Accounting II
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Modern accounting concepts. Liabilities, partnerships, corporations, statement of cash flows, and financial statements analysis. Enforced prereq: ACCT 2101
FIN 3100 - Managerial Finance
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Principle financial considerations/ratio analysis of business. Cost of capital, asset management, capital structure planning, financial statement analysis, working capital management, short-term financing, budgeting. Integrates theory/applications. prereq: [ACCT 2102 or 3010], [ECON 2101, MATH 1031] or instructor consent
GBUS 1005 - Orientation to Online Learning
Credits: 1.0 [max 1.0]
Typically offered: Every Fall, Spring & Summer
Introduction to UMC policies, e-mail, virtual private network, online library resources, writing scholarly reports, APA referencing, netiquette, networking in online environment, group work in online environment.
GBUS 3107 - Legal Environment in Business
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Fundamental concepts of business law, with emphasis on legal system, contracts, bailments, agency, business organizations, fundamentals of commercial law.
MGMT 3200 - Principles of Management
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Terminology, theories, concepts, and skills of managing. Basic functions of managing including, planning, organizing, leading, and controlling. Additional topics include decision making, business ethics, and social responsibility.
MKTG 3300 - Principles of Marketing
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Introduction to marketing/strategic marketing process. Team development of marketing plan that implements product, pricing, distribution, promotional strategies.
FIN 3900 - Internship
Credits: 1.0 -3.0 [max 6.0]
Typically offered: Every Fall, Spring & Summer
Employed as interns in business firms, institution or agency. Reports/consultations with faculty/employers required.
ACCT 3010 - Managerial Accounting
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Costing techniques, including activity based costing, applying costing methods to determine costs of products, services, production processes. Use of costs in operating/strategic decisions. Enforced prereq: ACCT 2101
ACCT 4404 - Income Tax I
Credits: 3.0 [max 3.0]
Typically offered: Fall Odd Year
Income tax laws as they relate to individuals. Enforced prereq: ACCT 2102
FIN 3020 - International Financial Management
Credits: 3.0 [max 3.0]
Typically offered: Fall Odd Year
International financial markets with risks/benefits of international operations. Compare operation of global companies with domestic companies regarding foreign exchange fluctuations, political risks, financial tools to address risks, capital budgeting, tax, working capital structure, investment decisions, company's valuation.
FIN 3105 - Corporate Finance
Credits: 3.0 [max 3.0]
Typically offered: Spring Even Year
How corporations/other business entities raise capital to finance business endeavors. Legal rules. Transactional/litigation-related aspects of corporate finance. Accounting/valuation. Institutions/players in financial markets. prereq: Fin 3100
FIN 3110 - Retirement and Estate Planning
Credits: 3.0 [max 3.0]
Typically offered: Fall Even Year
Accumulation, conservation, distribution of client?s acquired property. Estate planning techniques. Identification/use of appropriate forms of wills/trusts. Methods to reduce freezing or eliminating Unified Transfer Tax. Post-mortem planning practices. Retirement planning methods and techniques. Benefits and shortcomings of the various retirement methods.
FIN 3115 - Insurance and Risk Management
Credits: 3.0 [max 3.0]
Typically offered: Spring Even Year
Process for handling business risks. Property/liability risks, employee benefit planning, international loss exposures. Risk identification/evaluation. Risk control/financing techniques.
FIN 3120 - Money, Financial Markets and Institutions
Credits: 3.0 [max 3.0]
Typically offered: Fall Even Year
Principles/roles of money, banking, financial system. Interest rate, monetary policies of central banks. Financial instruments, asset pricing, determination/behavior of interest rates/exchange rates. Management, structure regulation of banking system.
FIN 3125 - Investments
Credits: 3.0 [max 3.0]
Typically offered: Spring Odd Year
Key concepts in investment theory from perspective of portfolio manager. Investment theory/problems. Current academic work/application for portfolio choice. Recommended prereq: FIN 3100
FIN 3126 - Financial Modeling and Valuation
Credits: 3.0 [max 3.0]
Typically offered: Spring Odd Year
This is a case and project-based course employing intermediate to advanced level Excel and quantitative methods. The cases/issues will be interdisciplinary. Students will become proficient at valuing existing assets, adding value to existing assets, and projecting value for future assets. Enforced prereq: ACCT 2101, FIN 3100 Recommended prereq: FIN 3105
GBUS 3100 - Career & Professional Development
Credits: 1.0 [max 1.0]
Typically offered: Every Spring
Planning for securing/successfully completing internship. Internship policies/objectives. Samples of forms.
GBUS 3300 - Business Analytics
Credits: 3.0 [max 3.0]
Typically offered: Spring Odd Year
Concepts, procedures, and technologies used by managers, administrators, and employees to enhance operation of an organization. Use of data mining and analysis to improve decision strategies. prereq: MATH 1150
GBUS 3500 - Business Ethics
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Ethics as a compelling responsibility of today's business organizations. Moral principles/models for ethical decision making. Challenges of ethical business practices. Recommended prereq: Mgmt 3200 and Mktg 3300 or instructor consent Enforced prereq: Comp 1013
ITM 3020 - Introduction to Management Information Systems
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Theoretical background/hands-on experience with "software as service" applications. Traditional individual/company hosted software.
ACCT 3220 - Accounting Systems
Credits: 3.0 [max 3.0]
Typically offered: Fall Even Year
Theory and methodology of analyzing, designing, and implementing accounting information systems. Emphasizes integrated data processing and managerial aspects of systems design and learning Quickbooks Accounting Software. Enforced prereq: ACCT 2101
ACCT 4405 - Income Tax II
Credits: 3.0 [max 3.0]
Typically offered: Spring Even Year
Income tax as it affects corporations partnerships, estates, trusts. May include service-learning component. Enforced prereq: ACCT 4404
ACCT 4420 - Income Tax Preparation
Credits: 3.0 [max 6.0]
Typically offered: Every Spring
Preparation for Registered Tax Return Preparer competency test. Prepare tax returns under Volunteer Income Tax Assistance program sponsored by Internal Revenue Service and/or preparing simulated individual/business tax returns. Enforced prereq: ACCT 4404
ACCT 4512 - CPA Review Course--Financial Reporting and Accounting
Credits: 3.0 [max 3.0]
Typically offered: Periodic Fall, Spring & Summer
Prepares students to sit for Financial Reporting/Accounting section of CPA exam. Enforced prereq: ACCT 4111
AGEC 3640 - Agricultural Finance and Valuation
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Analysis of investment strategies and financing policies for farm and agribusiness firms. Liquidity, solvency, profitability. Financial documents, legal aspects of credit, financial intermediaries serving agriculture, property valuation, estate planning. Enforced prereq: AGEC 3540
HSM 3270 - Health Care Finance
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Develops proficiency in applying financial techniques used in the health care decision-making process. Techniques include breakeven analysis, cost allocation, pricing, budgeting, capital budgeting, and revenue cycle management. Enforced prereqs: Acct 2102, CA 1020
MGMT 4800 - Strategic Management
Credits: 3.0 [max 3.0]
Course Equivalencies: ENTR4800/MGMT4800
Typically offered: Every Spring
Examines strategic management concepts and challenges. Requires students to research, develop strategic alternatives, and make decisions for organizations represented in textbook cases and from current business events. prereq: 3200, Fin 3100, Mktg 3300
SRM 3012 - Sport Finance and Economics
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Traditional/innovative methods of revenue acquisition, financial management in sports organizations. Broader economic impact/implications of sport in society. Importance of budgeting/finance in sports industry.
COMM 3008 - Business Writing
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Practical application of writing effective business letters, memos, e-mails, faxes. Tables, other graphics. Informal/formal informational/analytical reports. Professional oral/Web presentations. Development of personal writing style. Practice of appropriate business tone, etiquette. prereq: Comp 1013 or 6 credits of writing
COMM 3704 - Business and Professional Speaking
Credits: 3.0 [max 3.0]
Typically offered: Every Fall
Developing proficiency in communication/presentation skills in business contexts. Preparing, selecting, organizing, designing, and delivering oral messages in business situations. Meeting/group facilitation, interviewing, and professional presentations.
COMP 1011 - Composition I (COMMUNICAT)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Process of clear, concrete, and convincing writing. Generation and discovery of subjects, revisions, editing.
COMP 1013 - Composition II (COMMUNICAT)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Writing a research paper/s. Formulating/answering a research question. Developing an organizational/argument strategy for topic/audience. Supporting research question/argument with scholarly sources. prereq: 1011
ECON 2101 - Microeconomics (HI/BEH/SSC)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Basic economic principles of pricing, resource allocation, consumption. Supply/demand, cost of production, consumer behavior. Competition/influences of market structure. prereq: Math 0991 or 2 yrs high school algebra or equiv
ECON 2102 - Macroeconomics (HI/BEH/SSC)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Big picture of economy. Determinants of national income, national income accounting, unemployment, inflation, economic growth. Classical, Keynesian, recent theoretical approaches to modifying economic activity. Monetary/fiscal policies. International economic relations.
MATH 1150 - Introduction to Statistics (MATH THINK)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Descriptive statistics, elementary probability, normal distribution, binomial distribution, confidence intervals, tests of hypotheses, correlation, regression, chi-square, ANOVA. prereq: 0991 or ACT math score of 20 or higher
PSY 1001 - General Psychology (HI/BEH/SSC)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Overview of psychology as scientific study of human/animal behavior. Emphasizes goals of psychology: to describe, understand, predict, and control behavior. Biological, cognitive, affective, and social perspectives.
COMM 1101 - Public Speaking (COMMUNICAT)
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Topic selection, research, organization, rehearsal, and extemporaneous delivery of informative and persuasive speeches.
MATH 1031 - College Algebra (MATH THINK)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Basic algebraic operations, linear/quadratic equations/inequalities, variation. Functions/graphs. Theory of equations. Exponential/logarithmic functions. Systems of equations. Mathmatical modeling/applications. prereq: 0991 or ACT math score of 20 or higher
MATH 1250 - Precalculus (MATH THINK)
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Review of algebra, functions, polynomial, rational, exponential, logarithmic, trigonometric functions, trigonometric identities/equations, systems of equations, determinants/matrices, sequences/series, topics from analytic geometry. prereq: 1031 or ACT math score of 24 or higher
MATH 1271 - Calculus I (MATH THINK)
Credits: 4.0 [max 4.0]
Typically offered: Every Spring
Limits, differential calculus of functions of single variable, applications. Introduction to integral calculus of single variable. prereq: 1250 or ACT math score of 28 or higher
MATH 1272 - Calculus II
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Techniques of integration, calculus involving transcendental functions, polar coordinates, Taylor polynomials, vectors/curves in space, cylindrical/spherical coordinates. prereq: Math 1271
AGEC 2310 - Agribusiness Financial Records
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Applied course in record keeping. Use of computerized system to record business transactions; manage agricultural inventories, receivables, payables, and payroll; and generate coordinated financial statements.
CA 1020 - Spreadsheet Applications
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Personal/presentation use of spreadsheets that include formulas, functions, what-if analysis, and charts. Focuses on applying spreadsheet applications to individual academic disciplines.