Twin Cities campus
 
Twin Cities Campus

Accounting Minor

Accounting
Curtis L. Carlson School of Management
  • Program Type: Undergraduate minor related to major
  • Requirements for this program are current for Fall 2022
  • Required credits in this minor: 16
See major description for more information.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Admission Requirements
This minor is only available to students who are pursuing a BSB degree from the Carlson School of Management. Students are required to complete Acct 2051 with a B- or better prior to entry into the minor. Students who complete an equivalent course or who earn less than a B- must take and pass a pretest prior to enrolling in Acct 5101.
For information about University of Minnesota admission requirements, visit the Office of Admissions website.
Required prerequisites
Introduction to Financial Accounting
ACCT 2051 - Introduction to Financial Reporting (4.0 cr)
or ACCT 2051H - Honors: Introduction to Financial Reporting (4.0 cr)
Minor Requirements
At least 3 upper-division credits of the minor requirements must be completed at the University of Minnesota Twin Cities campus.
Minor Courses
ACCT 5101 - Intermediate Accounting I (4.0 cr)
ACCT 5102 - Intermediate Accounting II (4.0 cr)
Take 4 or more credit(s) from the following:
· ACCT 5126 - Internal Auditing (2.0 cr)
· ACCT 5135 - Fundamentals of Federal Income Tax (4.0 cr)
· ACCT 5141 - Financial-Data Analytics (2.0 cr)
· ACCT 5161 - Financial Statement Analysis (2.0 cr)
· ACCT 5181 - Consolidations and Advanced Reporting (2.0 cr)
· ACCT 5201 - Intermediate Management Accounting (2.0 cr)
· ACCT 5311 - International Accounting (2.0 cr)
 
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· Curtis L. Carlson School of Management

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· Accounting Minor Sample Plan

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· Accounting Minor
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ACCT 2051 - Introduction to Financial Reporting
Credits: 4.0 [max 4.0]
Course Equivalencies: Acct 2050/ApEc 1251/Dbln 2051
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
This course introduces the topics of financial reporting and accounting. The purpose of financial accounting is to provide information to the entity owners and external parties to serve as the basis for making decisions about that entity. A student who successfully completes this class should be able to 1) understand the concepts and principles of accounting, 2) analyze, record and report the accounting treatment of business transactions, and 3) prepare, interpret, and analyze financial statements.
ACCT 2051H - Honors: Introduction to Financial Reporting
Credits: 4.0 [max 4.0]
Course Equivalencies: Acct 2050/ApEc 1251/Dbln 2051
Grading Basis: A-F or Aud
Typically offered: Every Spring
This course introduces the topics of financial reporting and accounting. The purpose of the financial accounting is to provide information to the entity owners and external parties to serve as the basis for making decisions about that entity. A student who successfully completes this class should be able to 1) understand the concepts and principles of accounting, 2) analyze, record and report the accounting treatment of business transactions, and 3) prepare, interpret, and analyze financial statements.
ACCT 5101 - Intermediate Accounting I
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Valuation, measurement, reporting issues related to selected assets/liabilities of firm. Theory underlying accounting issues. Applying accounting principles. prereq: Grade of B- or better in Acct 2050/Acct 2051 OR passed the Acct pretest (z.umn.edu/Acct5101pretest); CSOM Major, MGMT minor, mgmt grad student
ACCT 5102 - Intermediate Accounting II
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Basic valuation problems encountered in financial reporting. Focuses on valuation of liabilities. Accounting for leases, pensions, and deferred taxes. Introduces consolidated financial statements. prereq: 5101[ mgmt or grad mgmt student]
ACCT 5126 - Internal Auditing
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Financial/operational auditing. Standards. Managing the function. prereq: 2050
ACCT 5135 - Fundamentals of Federal Income Tax
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
U.S. federal system of taxation. Concepts of gross income, deductions, credits. Analysis of structure of Internal Revenue Code, its provisions with respect to specific areas of law. Interrelationships between legislative, judicial, and administrative authority. Methods, tools, and techniques to conduct tax research. prereq: [2050 and or 2051] or MBA 6030], [mgmt or grad mgmt student]
ACCT 5141 - Financial-Data Analytics
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
This is a 2-credit undergraduate-level financial reporting data analytics course for Carlson students. The main learning objective is to introduce students specializing in business (accounting, auditing, tax, finance, marketing, operations, etc.) to data analytics, providing them the necessary knowledge and tools needed to effectively use data analytics in their specialized domain. The goal is thus for students to be able to consume and use available data analytics technologies to complement existing technical skills, rather than to train "data analytics specialists" (although this class is a good jumping-off point for students who wish to pursue a career specializing in data analytics!). Prior coding experience is thus not required, although students should have completed business statistics (SCO 2550 or BA 2551 or equivalent statistics course). After a general overview of data analytics and machine learning, we will dive into the ETL (extract, transform, load) process, covering topics and showcasing applications such as data joins, variable types, formulas, and regular expressions. We will then explore data visualization tools (including pivot tables and dashboards) and conclude the term by modeling data to create business insights via predictions. Students will gain hands-on experience using state-of-the-art data analytics tools and will learn how to conduct basic SQL queries. Students will improve their quantitative and problem-solving skills and learn how to apply scientific research methods to answer questions, present solutions, and discuss limitations. An emphasis will be placed on financial reporting datasets/applications, although the methods and concepts covered are applicable to other business settings/functions. Ultimately, students will enhance their analytical skills and achieve a deeper understanding of issues related to financial reporting specifically and business more generally. prereq: SCO 2550 or BA 2551 or equivalent statistics course and Acct 2050 or 2051
ACCT 5161 - Financial Statement Analysis
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Interpretation/analysis of financial statements. Introduces basic techniques of financial statement analysis and applies them in different settings (e.g., in investment/credit decisions). prereq: [5101]
ACCT 5181 - Consolidations and Advanced Reporting
Credits: 2.0 [max 2.0]
Course Equivalencies: Acct 5180/Acct 6160
Grading Basis: A-F or Aud
Typically offered: Every Spring & Summer
Theory underlying preparation of consolidated financial statements, as well as mechanical computations needed to prepare statements. prereq: 5101, 5102 recommended, or MBA 6031 (equiv. is also MBA 6030 before course number change in Fall 2022). MBA/Mgmt Sci MBA students must register A/F grade base.
ACCT 5201 - Intermediate Management Accounting
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
This course is an in-action course. The course explores the topic of management accounting in greater depth. The course expands introductory course material via special emphasis on decision making, problem solving skills and exploration of accounting's role within overall management. The course is an in-action class. We will have a project working on a business case from a firm as the final assessment for the course. prereq: 3001, acct or finance major
ACCT 5311 - International Accounting
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Causes/history of international differences in design of financial accounting/reporting systems, efforts to harmonize them into worldwide system. Role/impact of currency translation on financial statements. International Accounting Standards, conceptual framework. prereq: 5101; [5102 or concurrent registration is required (or allowed) in 5102] recommended