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Crookston Campus

Accounting B.S.

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Academic Affairs
  • Program Type: Baccalaureate
  • Requirements for this program are current for Spring 2021
  • Required credits to graduate with this degree: 120
  • Required credits within the major: 63
  • Degree: Bachelor of Science
Accounting is an information system that represents the economic resources and responsibilities of business or non-business enterprises. Monitored over time, it is used as a decision-making tool for allocating resources and evaluating responsibilities. Accounting information affects major economic decisions that have national and international impact. The accounting program teaches analytical, theoretical, communication, and leadership skills necessary for effective accounting and advancement in public, private, and government careers. The program prepares students to become accountants in business and government by providing accounting, business, and liberal education courses. Program outcomes: • Use computer technology for accounting spreadsheet applications and general ledger accounting functions and demonstrate overall literacy in technology • Develop and demonstrate skills in financial and cost accounting systems that are common to most businesses • Develop and demonstrate skills in US tax fundamentals for individuals and businesses • Demonstrate skills and knowledge in auditing • Demonstrate competencies in ethical decision making • Demonstrate knowledge of liberal education that provides a foundation for the applied curriculum • Demonstrate a commitment to continuing professional development • Demonstrate skills in communication, working with others, and critical thinking
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)
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 minimum of 40 upper-division credits are required to graduate. A maximum of two “D” grades are allowed for core courses required in the program and technology requirements. This includes grades earned at UMC or transferred in from another institution.
Accounting Core
Take 21 courses totaling 63 credits from the following:
ACCT 2101 - Principles of Accounting I (3.0 cr)
ACCT 2102 - Principles of Accounting II (3.0 cr)
ACCT 3010 - Managerial Accounting (3.0 cr)
ACCT 3201 - Intermediate Accounting I (4.0 cr)
ACCT 3202 - Intermediate Accounting II (4.0 cr)
ACCT 3220 - Accounting Systems (3.0 cr)
ACCT 3301 - Cost Accounting I (3.0 cr)
ACCT 3302 - Cost Accounting II (3.0 cr)
ACCT 4110 - Advanced Accounting I (3.0 cr)
ACCT 4111 - Advanced Accounting II (3.0 cr)
ACCT 4221 - Auditing I (3.0 cr)
ACCT 4310 - Auditing II (3.0 cr)
ACCT 4404 - Income Tax I (3.0 cr)
ACCT 4405 - Income Tax II (3.0 cr)
ACCT 4800 - Accounting Data Analytics (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)
Choose one of the following:
COMM 3008 - Business Writing (3.0 cr)
or WRIT 3303 - Writing in Your Profession (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 exactly 8 course(s) totaling exactly 24 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 1031 - College Algebra [MATH THINK] (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)
Technology
Take exactly 1 course(s) totaling exactly 3 credit(s) from the following:
· CA 1020 - Spreadsheet Applications (3.0 cr)
Open and/or Recommended Electives
Students need to take enough open and/or recommended elective credits to satisfy the 120 credit requirement for graduation. The following are recommended electives:
Take 0 or more credit(s) from the following:
· ACCT 3900 - Internship (1.0-12.0 cr)
· ACCT 4420 - Income Tax Preparation (3.0 cr)
· ACCT 4500 - Forensic Accounting (3.0 cr)
· ACCT 4511 - CPA Review Course--Regulation (3.0 cr)
· ACCT 4512 - CPA Review Course--Financial Reporting and Accounting (3.0 cr)
· ACCT 4513 - CPA Review Course--Auditing and Attestation (3.0 cr)
· ACCT 4514 - CPA Review Course--Business Environment and Concepts (3.0 cr)
Program Sub-plans
A sub-plan is not required for this program.
Online
  
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· Accounting (classroom)
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· Accounting B.S.
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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
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 3201 - Intermediate Accounting I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Financial statements, time value of money, current/long-term assets, intangible assets. Enforced prereq: ACCT 2102
ACCT 3202 - Intermediate Accounting II
Credits: 4.0 [max 4.0]
Typically offered: Every Spring
Current/long-term liabilities, stockholders' equity, statement of cash flows. Complex financial accounting topics, including leases, pensions, reporting issues. Enforced prereq: ACCT 3201
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 3301 - Cost Accounting I
Credits: 3.0 [max 3.0]
Typically offered: Fall Even Year
Fundamentals of cost accounting information systems, including cost-volume-profit relationships, costing in service/manufacturing sectors, cost behavior, budget/variance analysis. Enforced prereq: Acct 3010 Recommended prereq: Acct 2102, composition requirement
ACCT 3302 - Cost Accounting II
Credits: 3.0 [max 3.0]
Typically offered: Spring Odd Year
Refinements of cost accounting information systems, including management control systems, cost allocation refinements, capital budgeting, performance measurement. Enforced prereq: ACCT 3301
ACCT 4110 - Advanced Accounting I
Credits: 3.0 [max 3.0]
Typically offered: Fall Odd Year
Accounting for business combinations including merger, consolidation and stock acquisition. Consolidated financial statements. Enforced prereq: ACCT 3202
ACCT 4111 - Advanced Accounting II
Credits: 3.0 [max 3.0]
Typically offered: Spring Even Year
Accounting for partnership, state/local government, not-for profit. Foreign currency transactions and operations. Enforced prereq: ACCT 4110
ACCT 4221 - Auditing I
Credits: 3.0 [max 3.0]
Typically offered: Fall Even Year
Duties/responsibilities of auditor. Audit programs. Liability/professional ethics. Audit reporting standards for independent CPA. Enforced prereq: ACCT 3202
ACCT 4310 - Auditing II
Credits: 3.0 [max 3.0]
Typically offered: Spring Odd Year
Auditor's responsibility/liability, ethics, standards of professional conduct, auditing electronic data systems, applying statistical audit techniques. Enforced prereq: ACCT 4221
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
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 4800 - Accounting Data Analytics
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Data analytics in accounting including overview of accounting analytics, data understanding and preparation, modeling and evaluation, data visualization, audit data analytics, data analytics in managerial accounting, financial statement analytics, and tax analytics. Enforced prereq: ACCT 3301, 4110, 4310, and 4404
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.
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
WRIT 3303 - Writing in Your Profession
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Writing about subjects related to students' academic disciplines and future professions. Developing persuasive writing skills for academic, personal, and professional purposes. Effective communication principles, audiences, formats, and technologies. prereq: Comp 1011 and 1013 or 6 credits of writing
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 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 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.
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.
ACCT 3900 - Internship
Credits: 1.0 -12.0 [max 12.0]
Typically offered: Every Fall, Spring & Summer
Internship in accounting. Recommended prereq: ACCT 3202
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 4500 - Forensic Accounting
Credits: 3.0 [max 3.0]
Typically offered: Fall Odd Year
Course offered online only. Case studies of accounting fraud, tools to detect fraud, design of accounting systems to reduce fraud. Enforced prereq: ACCT 3202
ACCT 4511 - CPA Review Course--Regulation
Credits: 3.0 [max 3.0]
Typically offered: Periodic Fall, Spring & Summer
Prepares students for Regulation section of CPA exam. Enforced prereq: ACCT 4405
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
ACCT 4513 - CPA Review Course--Auditing and Attestation
Credits: 3.0 [max 3.0]
Typically offered: Periodic Fall, Spring & Summer
Prepares students to sit for Auditing/Attestation section of CPA exam. Enforced prereq: ACCT 4310
ACCT 4514 - CPA Review Course--Business Environment and Concepts
Credits: 3.0 [max 3.0]
Typically offered: Periodic Fall, Spring & Summer
Prepares students for Business Environment/Concepts section of CPA exam.