Accounting (ACCT)
Opus College of Business
Department of Accounting
Grimm (chair), Asdemir, Blazovich, Chui, DeVinck, Fluharty, Gao, Ishaug, Kalla, Matson, Mortenson, White, Yu
The University of St. Thomas accounting program meets the current education requirements set by the Minnesota Board of Accountancy to take the Certified Public Accountant (CPA) Examination, and for CPA licensure, in Minnesota. CPA licensure in Minnesota requires the applicant to have completed 150 semester hours of college or university education, passed the CPA Examination, passed an ethics examination, and completed relevant work experience. (Most other states have similar requirements.) The University of St. Thomas offers alternatives by which students can meet the 150-hour requirement, including master’s degrees (Master of Science in accountancy or Master of Business Administration) and baccalaureate coursework. Questions should be directed to the chair of the Department of Accounting or to a department faculty member.
Accounting
Business Core Courses:
- BUSN 100: Business for the Common Good (2 credits)
- ENTR 100: Introduction to Entrepreneurship & Innovation (2 credits)
- ACCT 100: Principles of Accounting I (4 credits)
- BUSN 200: Business Learning Through Service (0 credit)
- ACCT 200: Principles of Accounting II (2 credits)
- OPMT 200: Operations & Supply Chain Management (2 credits)
- FINC 310: Core Financial Management (2 credits)
- MKTG 200: Introduction to Marketing (2 credits)
- MGMT 200: Working Skillfully in Organizations (2 credits)
- BLAW 300: Law for Business Leaders I (2 credits)
- BETH 300: Ethical Principles in Business (2 credits)
Note: Students should make every effort to complete all the common business core courses above by the end of their second year of studies as to not impede degree progress. Transfer students must complete any missing business major core/allied coursework ASAP.
Business Elective Courses:
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Eight credits from undergraduate courses with designations ACCT / BETH / BLAW / BUAN / BUID / ENTR / FINC / IBUS / MGMT / MKTG / OPMT / REAL. These credits may not fulfill any required concentration credits unless you have more than one business concentration. These credits may be taken in courses within the department of the student’s business concentration. Transfer credits with these designations must be at the 300 level or above.
Concentration Courses:
- ACCT 311 Intermediate Accounting I (4 credits)
- ACCT 312 Intermediate Accounting II (4 credits)
- ACCT 314 Tax Accounting (4 credits)
- ACCT 316 Auditing (4 credits)
- ACCT 317 Cost Accounting (4 credits)
- ACCT 410 Advanced Accounting (4 credits)
- BLAW 311 Advanced Business Law for Accounting (2 credits)
Allied requirements:
- ECON 251 Principles of Macroeconomics (4 credits)
- ECON 252 Principles of Microeconomics (4 credits)
- CISC 200 Introduction to Computer Technology and Business Applications (4 credits)
- CISC 419 Accounting Information Systems (4 credits)
- STAT 220 Statistics I (4 credits)
Note: STAT 220 should be completed by the end of the sophomore year. Transfer students who have not had an equivalent course must complete this course by the end of their first semester, junior year.
Plus four credits from the following:
- MATH 101 Finite Mathematics (4 credits)
- MATH 109 Calculus with Review II (4 credits)
- MATH 111 Calculus for Business and Social Science (4 credits)
- MATH 113 Calculus I (4 credits)
Note: The math requirement must be completed by the end of the sophomore year.
Accounting Undergraduate Courses
| Course Number | Title | Credits | |
|---|---|---|---|
| ACCT 100 | Principles of Accounting I | 4 | |
| Description of course Principles of Accounting I : | The course introduces students to the discipline of accounting through an introduction to financial accounting. Financial accounting is an integral function of every business. Financial accounting data provide insights about the firm's financial condition, operating results, cash flows and capital structure to facilitate decision making. This course introduces the primary financial statements, fundamental financial accounting terminology and calculations, as well as the interpretation and analysis of financial statements. Ethical aspects of accounting are included. 4 credits. Note: Students who receive credit for ACCT 210 may not receive credit for ACCT 100. | ||
| ACCT 200 | Principles of Accounting II | 2 | |
| Description of course Principles of Accounting II : | Managerial accounting is used internally by businesses for cost management, planning and controlling, and strategic decision-making. Managerial accounting emphasizes the relevance and timeliness of data. The managerial accounting topics covered in this course include application of cost within corporate environment, break-even analysis, budgeting and differential analysis. 2 credits Prerequisites: ACCT 100 or ACCT 210 Note: Students who receive credit for ACCT 200 may not receive credit for ACCT 215. | ||
| ACCT 243 | Individual Study | 2 OR 4 | |
| Description of course Individual Study : | No description is available. | ||
| ACCT 269 | Research | 2 OR 4 | |
| Description of course Research : | No description is available. | ||
| ACCT 295 | Topics | 2 | |
| Description of course Topics : | The subject matter of these courses will vary from year to year, but will not duplicate existing courses. Descriptions of these courses are available in the Searchable Class Schedule on Murphy Online, View Searchable Class Schedule | ||
| ACCT 296 | Topics | 2 | |
| Description of course Topics : | The subject matter of these courses will vary from year to year, but will not duplicate existing courses. Descriptions of these courses are available in the Searchable Class Schedule on Murphy Online, View Searchable Class Schedule | ||
| ACCT 311 | Intermediate Accounting I | 4 | |
| Description of course Intermediate Accounting I : | The theory of accounting is studied as it relates to the external financial reporting requirements of profit-oriented businesses. Major subjects include review of the basic financial statements, valuation of most assets, and revenue recognition. Prerequisites: ACCT 100 or ACCT 210 and sophomore standing | ||
| ACCT 312 | Intermediate Accounting II | 4 | |
| Description of course Intermediate Accounting II : | A continuation of ACCT 311. A study is made of the remaining balance sheet accounts with special emphasis on the capital structure of corporations. In addition, complex accounting matters such as tax allocation, pension applications, lease capitalization and current value accounting concepts are reviewed. Prerequisites: ACCT 311; FINC 310 (may be taken concurrently) or FINC 321 (may be taken concurrently); and CISC 200 (may be taken concurrently). | ||
| ACCT 314 | Tax Accounting | 4 | |
| Description of course Tax Accounting : | This course is designed to give students an in-depth introduction to the tax system. The primary focus is federal income taxation for business. Secondary focus areas include individual, international, and state taxation, as well as the operation of flow-through legal entities and various tax accounting methods. This course helps students develop skills in the areas of on-line tax research, technical writing, preparation of tax returns including the use of commercially available tax return software, and tax accounting. Foundational elements include ethical and policy considerations in the tax field. Prerequisites: ACCT 100 or ACCT 210 and junior standing | ||
| ACCT 315 | Individual Income Tax | 4 | |
| Description of course Individual Income Tax : | A study of the fundamentals of federal income tax law as it applies to individuals. Topics include: filing status, dependents, gross income, itemized deductions, tax credits, cost recovery, property transactions, and the alternative minimum tax. Prerequisite: Junior standing | ||
| ACCT 316 | Auditing | 4 | |
| Description of course Auditing : | This course emphasizes the independent auditor’s role and function. Topics include auditing standards, ethics, legal responsibilities, evidence, internal control evaluation, transaction cycles, statistics and financial fraud. The basis for the auditor's report is emphasized. Prerequisites: ACCT 311 and junior standing | ||
| ACCT 317 | Cost Accounting | 4 | |
| Description of course Cost Accounting : | A rigorous study is made of the elements of product costs, including job, process, standard, and variable costing systems and procedures. A managerial emphasis is added through inclusion of cost-volume-profit relationships, budgeting techniques, and other selected topics. Prerequisites: ACCT 200 or ACCT 215, ACCT 311 and junior standing | ||
| ACCT 389 | Research | 2 OR 4 | |
| Description of course Research : | No description is available. | ||
| ACCT 393 | Individual Study | 2 OR 4 | |
| Description of course Individual Study : | No description is available. | ||
| ACCT 410 | Advanced Accounting | 4 | |
| Description of course Advanced Accounting : | The special accounting considerations of consolidated financial statements are considered in depth. Additional topics include foreign operations, partnerships, governments, and nonprofit organizations. Prerequisites: ACCT 312 and senior standing | ||
| ACCT 414 | Advanced Tax | 2 | |
| Description of course Advanced Tax : | Explores advanced tax topics within both individual and business taxation. Studies include individual tax planning, pass-through entities, tax-exempt organizations, and international taxation. Students will learn how data analytic skills are deployed within the tax professional industry. Prerequisites: ACCT 314 | ||
| ACCT 416 | Advanced Auditing | 2 | |
| Description of course Advanced Auditing : | This course emphasizes specialized topics in auditing. These topics include auditing and assurance services other than the financial statement audits and the internal control audits. Prerequisite: ACCT 316 | ||
| ACCT 420 | Accounting Analytics | 4 | |
| Description of course Accounting Analytics : | This course covers an accountant’s perspective of business analytics for corporate decision-making support. The course emphasizes analytics applications for accounting-related use cases. Students build upon foundational business statistics knowledge, usage skills for typical business application solutions (e.g., Excel, relational databases, workflow automation), and a repeatable data problem-solving approach. Course topics include: accounting analytics overview, problem framing and scope setting, data identification and management, descriptive analytics, storytelling with data visualization, and written and/or oral communication of accounting analytics results. Prerequisites: CISC 200, STAT 220, and one of the following: ACCT 311 or OPMT 200 or OPMT 300 | ||
| ACCT 476 | Experiential Learning | 1 TO 4 | |
| Description of course Experiential Learning : | No description is available. | ||
| ACCT 478 | Intern/Experiential Learning | 0 | |
| Description of course Intern/Experiential Learning : | This zero-credit course is for practical training for undergraduate students. | ||
| ACCT 488 | Topics | 2 | |
| Description of course Topics : | The subject matter of these courses will vary from year to year, but will not duplicate existing courses. Descriptions of these courses are available in the Searchable Class Schedule on Murphy Online, View Searchable Class Schedule | ||
| ACCT 491 | Research | 2 OR 4 | |
| Description of course Research : | No description is available. | ||
| ACCT 495 | Individual Study | 2 OR 4 | |
| Description of course Individual Study : | No description is available. | ||