B.S. in Accounting

Accounting is considered the language of business. More specifically, accounting is the analysis and recording of economic data, followed by the preparation of reports that can be used in an organization’s decision-making process. 

Saint Mary’s B.S. in Accounting program is designed to prepare students for careers in corporations, public accounting firms, government, and nonprofit organizations. The program develops the technical competencies, communication skills, and ethical frameworks that are valued by today’s employers.

CMA/CPA Exams and Certification

Students complete courses that provide a foundation for the CMA and CPA exams. Additional courses necessary to fulfill the 150-semester-hour requirement for CPA certification are available at the undergraduate level or in our graduate programs.

Locations

This program is offered at our Twin Cities and Rochester locations.

Degree Requirements

Degree Requirements

A minimum of 122 credits is required for graduation with a bachelor of science degree from Saint Mary's University. All students must meet the general education credit requirements. A minimum of 54 credits is required to complete the B.S. in Accounting.

Required Accounting Courses or Transfer courses 6 cr.
Required Accounting Courses 21 cr.
Elective Course 3 cr.
Required Management Courses 15 cr.
Required Communication Courses 6 cr.
Required Capstone 3 cr.
Total 54 cr.

Students who transfer in AC200 and AC205 can complete the program with 48 program credits.


Required Accounting Courses or Transfer Courses: 6 cr.

AC200 Financial Accounting Principles (3 cr.)

This course is an introduction to the accounting principles and procedures used to maintain an organization's financial records and to prepare its financial statements for use by its stakeholders. Topics include an introduction to the accounting profession, the accounting cycle and process of analyzing and recording transactions, and the Generally Accepted Accounting Principles used in the preparation and analysis of financial statements.


Upon completion of the course, students are expected to be able to do the following:

  1. Study the role of the professional accountant in today's business environment.
  2. Employ the basic concepts of the accounting cycle and the valuation of current assets and liabilities used in the preparation of a company's financial statements.
  3. Analyze and record a company's economic transactions in accordance with the appropriate generally accepted accounting principles.
  4. Prepare financial statements according to Generally Accepted Accounting Principles.
  5. Recognize various types of computer software and relate the importance in recording transactions and preparing reports.
  6. Identify the ethical issues involved in the financial reporting of a company's operations and balance sheet values.

AC205 Managerial Accounting Principles (3 cr.)

This course is an introduction to the managerial accounting and reporting systems used for decision making purposes. Topics include cost accounting and variances, cost-volume-profit relationships, job order and process cost systems, budgeting and measuring performance, and an introduction to the time value of money and the capital budgeting process.

Upon completion of the course, students are expected to be able to do the following:

  1. Evaluate the information available from the accounting records that is used in the managerial decision-making process.
  2. Apply job costing, activity-based costing and other cost management tools in the managerial decision-making process.
  3. Recognize various types of computer software and relate the importance to cost accounting and management reporting.
  4. Prepare, monitor, analyze, and report on the results of the budget process.
  5. Employ the various types of cost accounting processes.
  6. Apply the basic concept of time value of money in the capital budgeting process.

Required Accounting Courses: 21 cr.

AC300 Intermediate Accounting I (3 cr.)

This course is a comprehensive study of financial accounting theory. Topics include the formation of Generally Accepted Accounting Principles (GAAP), financial statement presentation and valuation, revenue recognition concepts, time value of money, cash and marketable securities, accounts receivable, and inventories.

Upon completion of this course, students are expected to be able to do the following:

  1. Assess the environment of financial reporting and rule making.
  2. Recognize the relationship among the objectives of financial reporting and decision making.
  3. Prepare and interpret financial statements and disclosure according to GAAP including the balance sheet, income statement, statement of stockholder equity, and the statement of cash flows.
  4. Calculate and determine the appropriate value of reporting current assets.
  5. Compute ending inventory and cost of goods sold under multiple inventory valuation methods including dollar value LIFO and lower of cost or market methods.
  6. Study the codes of ethics for various accounting professional organizations.
  7. Recognize various types of computer software and relate the importance to financial reporting and decision making.
  8. Know the requirement of the accounting profession concerning continuing professional education (CPE) and certifications (CPA, CIA, CMA, etc.).
     

AC305 Intermediate Accounting II (3 cr.)

This course is a continuation of the comprehensive study of financial accounting theory. Topics include fixed assets and depreciation, long-term investments, current and contingent liabilities, long-term liabilities, contributed capital, leases, accounting for income taxes, earnings per share, and post-retirement benefits.

Upon completion of this course, students are expected to be able to do the following:

  1. Analyze, classify, and record acquisitions and dispositions to fixed and intangible assets.
  2. Record depletion, amortization, and depreciation of full and partial periods.
  3. Analyze, classify, and record transactions involving current, long-term, and contingent liabilities.
  4. Explain and record the classification of long-term investments and marketable securities.
  5. Analyze, classify, and record equity transactions.
  6. Calculate permanent and temporary differences in financial and income tax accounting.
  7. Recognize various types of computer software and relate the importance to financial reporting and decision making.
  8. Classify and record a capital and operating lease for the lessee and lessor.
  9. Study and use the codes of ethics for various accounting professional organizations.
     

AC308 Individual Taxation (3 cr.)

This course provides an introduction to federal income tax law and regulations for individuals. Topics include an introduction to federal taxation, determination of gross income and taxable income for individuals, self-employment business income, special tax situations, ways of minimizing individual taxes and an introduction to estates and trusts.

Upon completion of the course students are expected to be able to do the following:

  1. Evaluate and apply federal tax rules to individual returns.
  2. Compute realized gains or losses on property dispositions, depreciation and cost recovery, and alternative minimum tax.
  3. Analyze various types of computer tax software and relate the importance to the preparation of tax returns
  4. Prepare comprehensive tax returns for individuals.
  5. Study the inherent ethical responsibility of tax practice.
  6. Evaluate sources of information or databases which can be used to keep current in the field of tax law.
  7. Analyze the tax implications of alternative choices and communicate the findings.
     

 

AC315 Cost Accounting (3 cr.)

The course emphasizes strategic aspects of cost and managerial accounting. Topics include cost behavior, relevant information for decision analysis, budgeting and the role of accounting in business strategy. The course also covers current management accounting theories.

Upon completion of this course, students are expected to be able to do the following:

  1. Analyze cost behavior.
  2. Develop a master budget and supporting budgets.
  3. Apply pricing and cost management strategies.
  4. Apply appropriate analysis and technique to solve non-routine problems.
  5. Discuss current topics in cost management accounting.
  6. Communicate results in a complete and ethical manner.
  7. Analyze various types of computer software and relate the importance to cost accounting and management decision making.
  8. Study and apply the professional code of ethical conduct for management accountants.
     

AC400 Advanced Accounting (3 cr.)

This course examines advanced accounting problems, theory, and financial statement presentations. Topics include consolidations, business combinations, governmental and nonprofit reporting, partnership accounting, and foreign exchange transactions.

Upon completion of this course, students are expected to be able to do the following:

  1. Value and record business combinations.
  2. Prepare and analyze consolidated financial statements including international transactions with foreign currency exchange.
  3. Recognize the differences between governmental, non-profit, and for-profit financial statement reporting.
  4. Recognize the differences between US Generally Accepted Accounting Principles (GAAP) and international accounting standards.
  5. Apply accounting valuation methods to financial transactions.
  6. Evaluate partnership accounting and how to allocate profit and loss according to the partnership agreement.
  7. Assess the role of the accountant in estates and trusts.
  8. Identify basic bankruptcy accounting procedures and transactions.
  9. Evaluate usefulness and limitations of advanced accounting topics.
  10. Analyze various types of computer software and relate the importance to the consolidation process.
     

AC405 Auditing (3 cr.)

This course covers audit theory and practice. It emphasizes applying audit theories and procedures in the examination of a company's financial statements by a certified public accountant. Auditing standards, professional ethics, legal responsibilities, and current auditing trends are discussed.

Upon completion of this course, students are expected to be able to do the following:

  1. Describe and apply auditing standards.
  2. Discuss the role of the auditor with regard to legal liability, ethics, and independence.
  3. Define internal control and distinguish the major components of internal control.
  4. Explain the relationship between evidence and audit risk and identify and explain the components of audit risk.
  5. Identify and apply audit methods and techniques used in practice today.
  6. Perform appropriate analytical procedures.
  7. Analyze various types of computer software and relate the importance to audit procedures.

AC410 Corporate Finance (3 cr.)

This course is an in-depth study of corporate financial management strategies. It focuses on decisions regarding risk and return, the management of current assets and current liabilities, capital budgeting using the time value of money concepts, and the maximization of shareholder wealth in a global economy. It also examines organizational use of the stock market and other financial institutions and systems.

Upon completion of this course, students are expected to be able to do the following:

  1. Differentiate the various forms of business organization and evaluate the advantages and disadvantages of each.
  2. Explain the tax and financial reporting requirements for the various forms of business organizations.
  3. Apply the principles of managing current assets and current liabilities of business entities.
  4. Assess the existence of management problems or opportunities by analyzing company financial statements and making comparisons to other companies in the same industry.
  5. Apply the time value of money concept used in the capital budgeting and financing/investment decision making process.
  6. Prepare cash flow budgets used in the capital budgeting and financing process utilizing the appropriate computer software.
  7. Examine the financial management of a company in today's world economy and markets.
  8. Describe different forms of financing that may be available to a company and evaluate the pros and cons of each.
  9. Assess the process of "going public" and the related additional reporting requirements.
     

 

Electives: 3 cr.

ACCT620 and ACCT640 require Program Director approval.

B.S. in Accounting completion students who anticipate enrolling in the M.S. in Accountancy program at Saint Mary’s University may take one of the 600 level graduate courses listed above as an elective. The B.S. completion program director must advise the student and approve enrollment in the graduate course. The graduate course must be taken within the final 12 credits of the B.S. completion degree. The 3 graduate credits can also be applied to the program requirements for the M.S. in Accountancy degree at Saint Mary’s University of Minnesota, if the student earns a grade of B or higher in the course.

AC310 Business Taxation (3 cr.)

This course provides an introduction to corporate federal income tax law. Tax provisions and administrative rules pertaining to corporations and alternative organizational structures are examined.

Upon completion of this course, students are expected to be able to do the following:

  1. Interpret and evaluate the tax code as it applies to taxpayer situations
  2. Explain the advantages and disadvantages of the taxation of different entities.
  3. Assess tax and nontax costs of various organizational forms.
  4. Prepare tax returns for partnerships, C corporations, and S corporations.
  5. Analyze various types of computer tax software and relate the importance to the preparation of tax returns.
  6. Identify basic tax concepts among most states and determine tax planning to reduce a corporation's overall state tax burden.
  7. Analyze the tax implications of alternative choices and communicate these findings.
     

AC415 International Accounting (3 cr.)

This course examines the accounting and reporting issues of foreign owned operations faced by large international firms. Topics include the differences in the accounting principles followed in various countries, determination of the appropriate method to be used in translating and consolidating foreign owned entities with the parent organization, and the harmonization of accounting principles around the globe.

Upon completion of this course, students are expected to be able to do the following:

  1. Explain differing accounting principles followed around the world.
  2. Explain the pros and cons of one set of accounting standards to be used by all countries.
  3. Explore the differences and similarities between Generally Accepted Accounting Principles and International Financial Reporting Standards.
  4. Select the appropriate methods to be used in translating the financial statements of a foreign owned entity for consolidation with its parent organization.
  5. Explain translation, hedging, and transaction gains or losses inherent in foreign currency transactions.
  6. Summarize the basics of international transfer pricing and international taxation.
  7. Analyze financial statements of foreign entities.
     

AC420 Forensic Accounting and Auditing (3 cr.)

This course examines forensic accounting and the procedures used to review and identify fraudulent transactions. Topics include fraud audit techniques, policies and safeguards for the prevention of fraud, and the use of technology in the forensic audit process.

Upon completion of this course, students are expected to be able to do the following:

  1. Distinguish between and discuss the various methods of possible fraud within the workplace.
  2. Select the appropriate audit procedures to be followed in conducting a fraud audit.
  3. Select and explain the areas of risk and exposure to fraud in a company situation
  4. Describe the various remedies available to those who suffer a loss through fraud.
  5. Analyze the ethical consequences of all aspects of fraud.
  6. Discuss the effective internal controls meant to discourage, minimize, and prevent fraud within an organization.
  7. Analyze various types of computer software, and relate the importance to conducting a forensic investigation.
     

 

ACCT620 Accounting Information Systems (3 cr.)

This course is designed to present an understanding of accounting information systems and their role in the accounting environment. Particular attention is paid to accounting information systems with regard to organizational goals, relational databases, internal control processes, risks, and management reports.

Upon completion of this course, students are expected to be able to do the following:

  1. Evaluate how accounting information systems align with organizational goals.
  2. Analyze the impact of accounting information systems on managing organizational risk.
  3. Summarize the advantages and disadvantages of enterprise resource management systems.
  4. List internal controls as they apply to accounting information systems.
  5. Develop a contingency plan for disaster preparedness and data recovery.
  6. Outline the monthly accounting cycle processes.
     

ACCT640 Nonprofit and Government Accounting (3 cr.)

This course introduces the concepts and practices of accounting for nonprofit entities and for state and local governments. Topics include the role and process of budgeting in governmental and nonprofit organizations and financial analysis.

Upon completion of this course, students are expected to be able to do the following:

  1. Identify and articulate the roles and responsibilities of a nonprofit board of directors and the management team.
  2. Apply generally accepted governmental and nonprofit financial reporting principles.
  3. Identify the accounting similarities and differences between nonprofit entities and private business enterprises.
  4. Prepare financial statements, notes, and supplementary information to meet the external reporting requirements of a nonprofit entity.

Required Management Courses: 15 cr.

BU400 Business Law (3 cr.)

This introductory course examines the legal context for business, including the legal and regulatory system, the law of contracts, property laws and torts, and forms of business organization, including partnerships and corporations. The course also introduces law and regulation which affect business activities, including employment law, securities, antitrust, bankruptcy, consumer protections, and environmental laws.

Upon completion of this course, students are expected to be able to do the following:

  1. Recognize the variety of legal issues present in their day-to-day business dealings and transactions.
  2. Understand how the American legal system functions with how it interrelates with and impacts the world of business and organizations.
  3. Make business decisions which take into account legal considerations.
  4. Describe methods used to protect themselves and their organizations from adverse legal consequences.
     

BU403 Applied Business Statistics (3 cr.)

This course introduces students to descriptive and inferential statistics for use in business-related applications. Measures of central tendency and dispersion, simple probability, data analysis, and statistical inference are examined. The use of computer software for analyzing statistical data is addressed.

Upon completion of this course students are expected to be able to do the following:

  1. Extract information from sample data through both graphical and numerical methods.
  2. Examine how probability can be used to make an inference about a population from information contained in a sample.
  3. Determine the probabilities associated with both discrete and continuous random variables.
  4. Estimate population means and proportions on a single sample selected from population of interest.
  5. Use the sampling distribution of a sample statistic to assess the reliability of the estimate.
  6. Utilize sample data from a variety of resources to make estimates, decisions, or generalizations about a larger set of data.
  7. Identify various software resources to aid in analyzing data.

MG305 Managerial Ethics (3 cr.)

This course examines the ethical issues and social responsibilities to be considered by business managers in the global economy. Also examined are the frameworks and reasoning skills relevant for understanding and addressing ethical dilemmas in business organizations. The social, political, global, and economic environments within which ethical issues occur are assessed.  Finally, the legal and regulatory implications of decision making in business organizations are examined.

Upon completion of this course, students are expected to be able to do the following:

  1. Describe the moral traditions, values, and philosophies that have influenced contemporary business ethics.
  2. Assess the variety of ethical issues that have the potential for impacting organizations in the global economy.
  3. Recognize the importance of ethical decision making as a component of management and leadership.
  4. Explore the characteristics and significance of various ethical frameworks and theories.
  5. Assess the impact of globalization on the ethical decision-making process.
  6. Examine the legal and regulatory forces that impact business practices and operations.
  7. Evaluate the scope and significance of socially responsible business practices.

 

MG311 Economics for Managers (3 cr.)

This course provides an overview of the macro and microeconomics theories used by individuals in various management and business professions. The economic decisions made by households and organizations in various markets are examined. Also examined are the laws of supply and demand, the macroeconomic indicators of the economy, business cycle analysis, the forces of production and consumption, labor market theory, and consumer choice. The impact of government economic policies on organizations is also examined.

Upon completion of this course, students are expected to be able to do the following:

  1. Describe the principles of macro and microeconomics.
  2. Evaluate the market forces involved in supply and demand.
  3. Describe the interaction between consumers and producers.
  4. Explain the dynamics of international trade.
  5. Describe how a nation's income and cost of living are measured.
  6. Explain how the monetary system works.
  7. Identify the economics of the public sector.

MG410 Applied Leadership and Management (3 cr.)

This course explores the application of leadership and management theory in today's business organizations.  Contemporary organizational leadership theories and practices are examined.  Also examined are management functions such as planning, organizing, and decision making.  The course emphasizes the analysis of leadership and management skills needed by professionals in various organizational situations.  Leadership and management practices in the context of various organizational trends are evaluated.

Upon completion of this course students are expected to be able to do the following:

  1. Assess various leadership and management theories, frameworks, and concepts.
  2. Explain the roles and responsibilities required of leaders and managers in various organizational contexts.
  3. Analyze the circumstances that require the application and practice of leadership and management skills.
  4. Evaluate the significance of both formal and informal leadership roles in an organization. 
  5. Demonstrate management skills such as planning, goal setting, decision making, and measuring outcomes.
  6. Explore emerging trends that impact organizations such as global competition, workforce diversity, corporate social responsibility, and organizational change that leaders and managers need to understand.
  7. Assess the impact of effective leadership in developing ethical organizational cultures.

Required Communication Courses: 6 cr.

COM309 Professional Writing (3 cr.)

This course provides strategies for developing a clear, concise professional writing style. A variety of writing formats are addressed. Research for professional documents, writing in an electronic environment, and collaborative writing are considered. Voice, style, audience, purpose, the writing process, and strategies for editing and revision are examined in the context of interpersonal and ethical dimensions.

Upon completion of the course, students are expected to be able to do the following:

  1. Write effectively in various forms of professional writing.
  2. Demonstrate writing in a professional environment.
  3. Exhibit a professional voice and writing style.
  4. Effectively incorporate relevant research into professional writing.
  5. Understand and apply the writing process to diverse audiences and purposes.
  6. Effectively incorporate elements of professional document design into print and electronic documents.
  7. Employ professional revision and editing skills.
     

COM310 Oral Communications (3 cr.)

Communication skills pertinent to organizational settings form the foundation of this course.  Effective methods for design and delivery of oral communication are examined. Other topics include communication styles, effective listening, interpersonal communication skills, dynamics of small group communication and persuasive speaking, all in the context of professional workplace communications.

Upon completion of the course, students are expected to be able to do the following:

  1. Demonstrate effective oral communication skills.
  2. Demonstrate effective and active listening skills.
  3. Recognize and adapt to differing communication styles.
  4. Demonstrate skill in interpersonal communication.
  5. Understand small group dynamics.
  6. Demonstrate persuasive speaking techniques.
  7. Effectively create and utilize graphics or other appropriate media in professional presentations.
  8. Deliver organized, professional informational and persuasive presentations.
     

Required Capstone: 3 cr.

AC490 Business Strategic Management Capstone (3 cr.)

This course integrates knowledge and skills developed in a student’s major course of study. Students integrate and apply knowledge and skills acquired throughout their academic programs. Students also demonstrate professional communications via written reports and oral presentations, outline continuing education strategies, and analyze ethical and diversity issues in business organizations.

Upon completion of this course, students are expected to be able to do the following:

  1. Demonstrate critical thinking skills related to their major field of academic study.
  2. Analyze the environmental variables and available resources affecting business-related issues and strategies.
  3. Synthesize various business-related strategies.
  4. Identify management principles relevant for business professionals.
  5. Assess the impact of ethical decisions in various business organizations.
  6. Address diversity in various business environments.
  7. Develop strategies for continuing education in their academic field of study.
  8. Communicate using inclusive methods in a variety of modes.
  9. Recognize current trends in their academic field of study.
  10. Demonstrate interpersonal communication and collaboration skills required in various business settings.

     

 




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