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Accounting Minor

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Academic Affairs
  • Program Type: Undergraduate minor related to major
  • Requirements for this program are current for Spring 2018
  • Required credits in this minor: 26 to 27
A minor in accounting complements several other majors. The accounting minor introduces students to the theory and practice of accounting, including the basics of generally accepted accounting principles. The accounting minor has flexibility to allow a student to concentrate in taxation, cost accounting, auditing, or financial accounting. The accounting minor also may be used to help qualify the student to take the CPA exam. Program outcomes: students who earn an accounting minor will * understand generally accepted accounting principles * perform accounting functions based on generally accepted accounting principles * perform accounting functions using various accounting and tax software
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
Minor Requirements
Accounting Requirements
Required courses - 20 credits
ACCT 2101 - Principles of Accounting I (3.0 cr)
ACCT 2102 - Principles of Accounting II (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)
or ACCT 4221 - Auditing I (3.0 cr)
or ACCT 4404 - Income Tax I (3.0 cr)
Accounting Electives
Students must complete 6 credits from the following listed courses. The courses selected must not include the 3-credit course the student selected from the "or" choice of courses under Accounting Requirements.
Take 6 or more credit(s) from the following:
· ACCT 3301 - Cost Accounting I (3.0 cr)
· ACCT 3302 - Cost Accounting II (3.0 cr)
· ACCT 3900 - Internship (1.0-3.0 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 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)
· GBUS 3117 - Business Law (3.0 cr)
Program Sub-plans
A sub-plan is not required for this program.
Accounting Minor (Online)
A minor in accounting online complements several other majors. The accounting minor online introduces students to the theory and practice of accounting, including the basics of generally accepted accounting principles. The accounting minor online, which has the same curriculum as the classroom delivered accounting minor, has flexibility to allow student to concentrate in taxation, cost accounting, auditing, or financial accounting. The accounting minor online also may be used to help qualify the student to take the CPA exam. Program outcomes: students who earn an accounting minor online will * understand generally accepted accounting principles * perform accounting functions based on generally accepted accounting principles * perform accounting functions using various accounting and tax software
Technology Requirement
Required course - 1 credit
GBUS 1005 - Orientation to Online Learning (1.0 cr)
 
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· Accounting Minor (Classroom)
· Accounting Minor (Online)

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· Accounting Minor
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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, plant assets, payroll. prereq: Math 1031
ACCT 2102 - Principles of Accounting II
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Modern accounting concepts. Cash flow statement. Analysis of financial statements. Management accounting topics, including cost-volume-profit analysis, and costing methods. prereq: 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. prereq: 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. prereq: 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. prereq: 2010 or 2101
ACCT 3301 - Cost Accounting I
Credits: 3.0 [max 3.0]
Prerequisites: 2102, composition requirement
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. prereq: 2102, composition requirement
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. prereq: 3202
ACCT 4404 - Income Tax I
Credits: 3.0 [max 3.0]
Typically offered: Fall Odd Year
Income tax laws as they relate to individuals.
ACCT 3301 - Cost Accounting I
Credits: 3.0 [max 3.0]
Prerequisites: 2102, composition requirement
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. prereq: 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. prereq: 3301
ACCT 3900 - Internship
Credits: 1.0 -3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Internship in accounting. prereq: 3202
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. prereq: 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. prereq: 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. prereq: 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. prereq: 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.
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. prereq: 4404
ACCT 4420 - Income Tax Preparation
Credits: 3.0 [max 3.0]
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. prereq: 4404
ACCT 4500 - Forensic Accounting
Credits: 3.0 [max 3.0]
Prerequisites: 3202
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. prereq: 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. prereq: 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. prereq: 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. prereq: 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. prereq: 3322
GBUS 3117 - Business Law
Credits: 3.0 [max 3.0]
Prerequisites: 3107
Typically offered: Spring Even Year
Negotiable instruments, bank deposits/collection, bankruptcy, suretyship, partnerships, corporations, federal securities law, accountant's legal liability, property, insurance, trust, estates. prereq: 3107
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.