University of Minnesota Duluth 2020-2021 Undergraduate Courses
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University of Minnesota Duluth 2020-2021 Undergraduate Courses This document serves as an official historical record for a specific period in time. The information found is subject to change without notice. Colleges and departments make changes to their degree requirements and course descriptions frequently. More information is available at catalogs.umn.edu. For current information, refer to: ● Program search: z.umn.edu/publicprogramsearch ● Course search: z.umn.edu/publiccoursecatalog ● University policies: policy.umn.edu University of Minnesota Duluth 1049 University Drive Duluth, MN 55812 University of Minnesota Duluth Catalog Fall, 2020 Overview of the characteristics and functions ACCT 4101. Auditing. (; 3 cr. ; A-F only; Accounting (ACCT) of modern accounting information systems. Every Fall & Spring) Focus on system use, internal controls, security Theory and procedures in audit process. ACCT 2001. Principles of Financial issues, and system design and implementation prereq: 3102, 3110 or 3301, LSBE candidate or Accounting. (; 3 cr. ; A-F only; Every Fall, in computerized accounting procedures within college consent; no grad credit; credit will not Spring & Summer) the business organization. Develop proficiency be granted if already received for 4160. Concepts of financial accounting and external in the use of accounting software. prereq: ACCT 4402. Advanced Business Taxation. reporting. Nature and measurement of assets, LSBE candidate or non-LSBE accounting minor (3 cr. ; A-F only; Every Fall) liabilities, equities, revenues, expenses. or college consent; credit will not be granted if Understanding how taxes impact basic Emphasis on use and understanding of already received for 3110. external financial statements. prereq: Minimum business and entrepreneurial decisions. It 15 credits or college consent ACCT 3401. Individual Income Taxation. (; 3 takes a tax planning/minimization perspective cr. ; A-F only; Every Fall, Spring & Summer) and presents advanced tax research and ACCT 2002. Principles of Managerial Provides an understanding of how taxes resource materials available on the web. Accounting. (; 3 cr. ; A-F only; Every Fall, impact personal financial decisions. Takes prereq: 3401, LSBE candidate or college Spring & Summer) tax planning/minimization perspective and consent; credit will not be granted if already Information accumulation, analysis, and provides basic information on reporting tax received for 3151 or 3402; no grad credit use for managerial decisions. Cost-volume- positions to the IRS. In addition to tax planning profit relationships; short- and long-term ACCT 4501. Advanced Accounting. (3 cr. ; and compliance, the student will be exposed decisions; standards and budgets; segment A-F only; Periodic Fall & Spring) to basic tax concepts. prereq: Credit will not be and managerial performance evaluation. Topics including consolidated financial granted if already received for ACCT 3152 or prereq: 2001, LSBE student or college consent statements, partnership, and fiduciary 4152; LSBE candidate or approved non-LSBE accounting. prereq: 3102, LSBE candidate or ACCT 2005. Survey of Accounting. (; 3 cr. ; accounting minor or college consent college consent A-F or Audit; Periodic Spring) ACCT 3701. Small Business Initiative in Survey of Accounting provides an overview ACCT 4505. International Accounting. (3 Accounting. (1-2 cr. [max 3 cr.] ; S-N or Audit; of fundamental concepts and procedures in cr. ; A-F only; Periodic Fall & Spring) Every Fall) financial and managerial accounting. The International accounting measurement and Provide practical experience in the emphasis is on helping students to develop reporting issues unique to multinational development of budgets, analysis of financial a basic understanding of the contexts of business transactions and multinational statements and other types of small business accounting reports provided to decision enterprises; consolidations; foreign exchange accounting issues. prereq: 3001, 3101, LSBE makers. Credit cannot be applied toward accounting; forward and option markets; candidate and instructor consent the BAcc or BBA degree programs or the translation of foreign currency financial Accounting minor. ACCT 3705. Volunteer Income Tax statement; international audit environment; Assistance. (1-2 cr. [max 3 cr.] ; S-N only; ACCT 3001. Technology Tools in international taxation and transfer pricing; Every Spring) Accounting. (1 cr. ; A-F only; Every Fall & harmonization of worldwide accounting. prereq: Provides volunteer experience preparing tax Spring) 3102, LSBE candidate or college consent returns for low and moderate income Duluth Introduction to basic and advanced applications ACCT 4510. Fund and Not-For-Profit residents through both classroom and hands- of spreadsheet, database and other accounting Accounting. (; 3 cr. ; A-F only; Every on training. prereq: department consent, 2 specific to solve accounting problems. prereq: Summer) credit first registration, 1 credit repeat; credit LSBE candidate Accounting concepts and processes applied will not be granted if already received for 3096 ACCT 3101. Intermediate Accounting I. (3 to government, hospital, education, charity, cr. ; A-F only; Every Fall, Spring & Summer) ACCT 3796. Internship in Accounting. (1-6 and other not-for-profit entities. prereq: LSBE Review of financial accounting standard cr. [max 18 cr.] ; A-F only; Every Fall, Spring & candidate or college consent Summer) setting, conceptual framework, and accounting ACCT 4600. Employee Benefit and Work-integrated learning program providing process. Income statement, balance sheet, Retirement Planning. (3 cr. ; A-F or Audit; practical experiences within students major. and statement of cash flows. Present value Periodic Fall) Students participate in approved program concepts, cash, receivables, inventories, fixed This course will provide preparation for within cooperating business, governmental assets, current liabilities, and contingencies. professionals who will be providing employee agencies, or civic organizations. There are prereq: LSBE candidate or non-LSBE benefits and retirement planning services for minimum hours based upon the credits you accounting minor or college consent clients. The course will focus on the importance select for the course; 1 credit = 100 hour of retirement planning, an evaluation of the ACCT 3102. Intermediate Accounting II. (3 minimum; 2 credits = 150 hours minimum; 3 client's needs, and understanding of Social cr. ; A-F only; Every Fall & Spring) credits= 200 hour minimum. The course also Security and Medicare, and qualified and non- Long-term liabilities, stockholders' equity, requires completion of internship contract, qualified retirement plans. prereq: Acct 3401, earnings per share, revenue recognition, assignments, and performance evaluations. LSBE candidate, no grad credit and tax allocation. Investments, pensions, For LSBE majors that allow for only three leases, accounting changes and error analysis, (or fewer) credit hours of internship in the ? ACCT 4795. Special Topics (Various Titles financial statement analysis, and disclosures major curriculum,? students will be allowed to be Assigned). (; 1-3 cr. [max 9 cr.] ; A-F in financial statements. prereq: A grade of C or to count the remaining internship credits only; Periodic Fall & Spring) better in 3101, LSBE candidate or non-LSBE in the Upper Division Supporting Courses Enables students, working closely with the accounting minor or college consent category. Maximum credits: 6; 3 completions instructional faculty, to explore one or more ACCT 3201. Cost Accounting. (3 cr. ; A-F allowed Prereq: LSBE Candidate, prior major contemporary accounting issues in substantial only; Every Fall & Spring) coursework, consent of Internship Director depth. prereq: 3101, LSBE candidate or college consent Determining manufacturing costs, e.g., ACCT 3991. Independent Study. (1-3 cr. ; A- in a job order or process manufacturing F only; Every Fall, Spring & Summer) ACCT 5402. Advanced Business Taxation. environment. Cost-volume-profit relationships, For students wishing to do special work in an (3 cr. ; A-F or Audit; Every Fall) activity- based accounting, standard costing accounting area that extends beyond, or in Understanding how taxes impact basic techniques. prereq: LSBE candidate or non- greater depth than, regular course offerings. business and entrepreneurial decisions. It LSBE accounting minor or college consent prereq: BAc candidate with 80 cr, department takes a tax planning/minimization perspective ACCT 3301. Accounting Information consent; credit not available as accounting and presents advanced tax research and Systems. (; 3 cr. ; A-F only; Every Fall & elective; may take ACCT 3191 and 3991 for a resource materials available on the web. pre- Spring) total of 3 credits. req: MBA student or department consent Courses listed in this catalog are current as of 2020-09-08. For up-to-date information, visit www.catalogs.umn.edu. 1 University of Minnesota Duluth Catalog Fall, 2020 ACCT 5501. Advanced Accounting. (3 cr. ; AIR 2101. The Evolution of the U.S. Air AIR 3591. Leadership Practicum. (; 1-4 cr. ; A-F or Audit; Periodic Fall & Spring) Force Air and Space Power. (; 1 cr. ; A-F or A-F or Audit; Every Fall & Spring) Topics including consolidated financial Audit; Every Fall) Practical application of leadership and statements, partnership, and fiduciary Air Force heritage; development/deployment of management in structured realistic situations. accounting. pre-req: MBA