Accounting (BS)

Catalog Year

2024-2025

Degree

Bachelor of Science

Major Credits

70

Total Credits

120

Locations

Mankato

Career Cluster

Finance

Accreditation

AACSB

Association to Advance Collegiate Schools of Business

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Program Requirements

Required General Education

* ECON 201 and MATH 130 must be completed for admission to the major.

Emphasis on forces influencing employment and inflation. Current problems of the economy are stressed along with tools government has to cope with them.

Prerequisites: none

Goal Areas: GE-05

This course develops concepts and skills in algebra and introductory calculus needed to model applications in business, economics, social sciences and life sciences, using polynomials, exponentials, logarithms, linear systems, linear programming, sequences, series, derivatives and integrals.

Prerequisites: Satisfy Placement Table in this section, or grade of "C" (2.0) or better in either MATH 112 or MATH 115.

Goal Areas: GE-04

Choose 3 Credit(s).

Discussion of theories of value and obligation.

Prerequisites: none

Goal Areas: GE-06, GE-09

Discussion of the ways that a culture both creates human community and shapes self-identity. Exploration of similarities and differences between and interdependence among cultural traditions, and of vocabularies for assessing traditions.

Prerequisites: none

Goal Areas: GE-06, GE-08

Ethical perspectives relevant to issues such as euthanasia, genetic engineering, organ transplant, patients' rights, abortion, etc.

Prerequisites: none

Goal Areas: GE-06, GE-09

Introduction to ethical theories and concepts and their application to specific cases in the world of business.V

Prerequisites: none

Goal Areas: GE-06, GE-09

Questions about human responsibilities to other animals and the environment gain urgency as environmental crises become more prevalent, and animal species continue to be eliminated. Learn about, critique, and apply the principles underlying evaluations of human environmental conduct.

Prerequisites: none

Goal Areas: GE-09, GE-10

Consideration of the basic philosophical approaches to the idea of justice and how this idea relates to other fundamental ideas in political philosophy, ethics, and law.

Prerequisites: none

Goal Areas: GE-06, GE-09

Prerequisites to the Major

The accounting process, financial statement preparation, and analysis. Includes the accounting cycle, asset, liability, and equity accounting. Emphasis on the use of accounting data.

Prerequisites: MATH 112 or MATH 115or MATH 121 or MATH 130 or MATH 181

This course is required for admission to the College of Business for all business majors. The purpose of the course is to provide students with an overview of COB majors, allow students to create an academic plan for graduation, and develop professional skills needed for future job placement. Topics include cover letter and resume writing, interviewing skills, the process of networking, the internship program, etiquette skills, and requirements for graduation.

Prerequisites: none

Introduction to the personal computer as a productivity tool for business majors. Using Microsoft Office suite, students learn to be productive with document processing, spreadsheets, electronic presentations, and databases. Cannot be used toward any major or minor in Computer Information Science.

Prerequisites: none

Major Common Core

* Required of all College of Business Majors (34 credits)

Preparation and analysis of cost-based management reports: use of cost information to make short-term operating decisions and long-term capital decisions.

Prerequisites: ACCT 200

Application of law to business settings; the American court system; alternative dispute resolution; ethics and the social responsibility of business; fundamentals of legal reasoning; sources of law; constitutional, criminal, tort, and contract law; business associations.

Prerequisites: none

Examines decision making by the individual firm, the determination of prices and wages, and current problems facing business firms.

Prerequisites: none

Goal Areas: GE-05

Basic statistical methods including measures of central tendency and dispersion, probability, probability distributions, sampling, problems of estimation and hypothesis testing in the case of one and two sample meaans and proportions. Chi-Square, one-way analysis of variance, simple regression and correlation analysis, and brief introduction to multiple regression analysis. Use of computer statistical packages required.

Prerequisites: MATH 112 or equivalent

Goal Areas: GE-02, GE-04

An introduction to finance relating to problems, methods, and policies in financing business enterprise.

Prerequisites: ACCT 200

International dimensions of business: global business environment (economic, cultural, legal, political) and international business functions (management, marketing, finance, exporting, importing).

Prerequisites: none

This course examines basic management concepts and principles, their historical development, and their application to modern organizations. Topics covered include planning, organizing, decision making, leadership, control, and organizational change. In addition, the course includes an introduction to business ethics and social responsibility, human resource management, organizational design and organizational behavior.

Prerequisites: none

This course is designed to introduce students to the Management Information Systems and its application in organizations. The course will present to the students the information systems role to support the various managerial activities, and to help the students identify and evaluate various options in Management Information Systems.

Prerequisites: ISYS 101 or CIS 101

This course engages students in the study of the operations management function in manufacturing and service organizations. Students learn how to apply the basic analytical models to operation decisions involving topics such as scheduling, production technology, inventory management, quality assurance, just-in-time production, and others.

Prerequisites: ECON 207

MGMT 481 is an integrative course for COB majors. Its emphasis is on understanding the role of a general manager, which should include an operations and international component.

Prerequisites: FINA 362, MRKT 210, MGMT 230, MGMT 346

This course provides a basic understanding of marketing concepts with emphasis on the pricing, promotion, and distribution of need satisfying products and services in domestic and international markets. The format of the course consists of lectures, case discussions, application exercises, projects, exams, and in-class group assignments.

Prerequisites: none

Required for all Accounting Majors (C or better required) - Choose 28 Credit(s).

This course provides extensive hands-on practice applying all steps in the accounting cycle. Emphasis will be placed on completion of journal entries, adjusting entries, closing entries, and preparation of financial statements.

Prerequisites: ACCT 200

An in-depth analysis of financial accounting concepts and procedures, and includes coverage of the income statement, balance sheet, time value of money, receivables and inventories.

Prerequisites: ACCT 200

A continuation of Accounting 300. An in-depth analysis of long term liabilities, stockholders equity, leases, pensions, deferred taxes and the statement of cash flows.

Prerequisites: ACCT 300

Emphasizes product and service costing, including job order and process costing systems. Other related topics are budgeting, pricing, cost-volume-profit analysis, standards and variance analysis.

Prerequisites: ACCT 200, ACCT 210

A discussion of various accounting information systems. Topics include documentation, internal control, system design, knowledge structures, database design, software evaluation, systems applications and current developments.

Prerequisites: none

The course examines the principles and procedures relating to the determination and computation of federal income taxes for an individual. Federal estate tax, gift tax, and income taxation of estates and trusts are also examined.

Prerequisites: ACCT 200, ACCT 210

A study of accounting principles and concepts for mergers, acquisitions, consolidated statements, foreign currency translation, partnerships, and governmental/not for profit.

Prerequisites: ACCT 301

The course examines the principles and procedures relating to the determination and computation of federal income taxes for various business entities including sole proprietorships, corporations, partnerships and tax-exempt entities. The course also covers tax research procedures.

Prerequisites: ACCT 300, ACCT 330

An overview of the external audit process, the issues facing the auditing profession today, and assurance services. Includes detailed coverage of the AICPA Code of Conduct, audit planning, substantive testing, auditors' responsibilities for detecting fraud, and audit reports.

Prerequisites: ACCT 300

Fundamentals of contracts, the law of sales under the UCC; the legal liability of accountants to clients and third parties. Formation of contracts; statute of frauds and parol evidence rule; contract performance; remedies for breach of contract; scope of UCC Article Two; sales warranties; remedies for breach of contracts.

Prerequisites: BLAW 200

Major Unrestricted Electives

Optional Applied Experience - Choose 0 - 3 Credit(s).

BUS 397 provides students an entrepreneurial real-world learning opportunity. Students gain additional insight into business concepts by applying the material in a real-world environment and gaining insight into the integrated nature of business. The class focuses on learning to develop and operate a business entity. Student teams will operate their own company, obtain an actual bank loan, and sell their chosen products throughout the semester. The class provides an opportunity to practice business skills such as communication, problem-solving, and leadership. Students learn what it takes for entrepreneurs to succeed while giving back through community service.

Prerequisites: Must be admitted to a major.

4-Year Plan

The 4-Year Plan is a model for completing your degree in a timely manner. Your individual 4-Year plan may change based on a number of variables including transfer courses and the semester/year you start your major. Carefully work with your academic advisors to devise your own unique plan.
* Please meet with your advisor on appropriate course selection to meet your educational and degree goals.

First Year

Fall - 16 Credits

Introduction to the personal computer as a productivity tool for business majors. Using Microsoft Office suite, students learn to be productive with document processing, spreadsheets, electronic presentations, and databases. Cannot be used toward any major or minor in Computer Information Science.

Prerequisites: none

This course develops concepts and skills in algebra and introductory calculus needed to model applications in business, economics, social sciences and life sciences, using polynomials, exponentials, logarithms, linear systems, linear programming, sequences, series, derivatives and integrals.

Prerequisites: Satisfy Placement Table in this section, or grade of "C" (2.0) or better in either MATH 112 or MATH 115.

Goal Areas: GE-04

Spring - 15 Credits

The accounting process, financial statement preparation, and analysis. Includes the accounting cycle, asset, liability, and equity accounting. Emphasis on the use of accounting data.

Prerequisites: MATH 112 or MATH 115or MATH 121 or MATH 130 or MATH 181

Application of law to business settings; the American court system; alternative dispute resolution; ethics and the social responsibility of business; fundamentals of legal reasoning; sources of law; constitutional, criminal, tort, and contract law; business associations.

Prerequisites: none

Emphasis on forces influencing employment and inflation. Current problems of the economy are stressed along with tools government has to cope with them.

Prerequisites: none

Goal Areas: GE-05

This course is required for admission to the College of Business for all business majors. The purpose of the course is to provide students with an overview of COB majors, allow students to create an academic plan for graduation, and develop professional skills needed for future job placement. Topics include cover letter and resume writing, interviewing skills, the process of networking, the internship program, etiquette skills, and requirements for graduation.

Prerequisites: none

Second Year

Fall - 16 Credits

Preparation and analysis of cost-based management reports: use of cost information to make short-term operating decisions and long-term capital decisions.

Prerequisites: ACCT 200

This course provides a basic understanding of marketing concepts with emphasis on the pricing, promotion, and distribution of need satisfying products and services in domestic and international markets. The format of the course consists of lectures, case discussions, application exercises, projects, exams, and in-class group assignments.

Prerequisites: none

This course provides extensive hands-on practice applying all steps in the accounting cycle. Emphasis will be placed on completion of journal entries, adjusting entries, closing entries, and preparation of financial statements.

Prerequisites: ACCT 200

This course examines basic management concepts and principles, their historical development, and their application to modern organizations. Topics covered include planning, organizing, decision making, leadership, control, and organizational change. In addition, the course includes an introduction to business ethics and social responsibility, human resource management, organizational design and organizational behavior.

Prerequisites: none

An introduction to finance relating to problems, methods, and policies in financing business enterprise.

Prerequisites: ACCT 200

Spring - 13 Credits

Basic statistical methods including measures of central tendency and dispersion, probability, probability distributions, sampling, problems of estimation and hypothesis testing in the case of one and two sample meaans and proportions. Chi-Square, one-way analysis of variance, simple regression and correlation analysis, and brief introduction to multiple regression analysis. Use of computer statistical packages required.

Prerequisites: MATH 112 or equivalent

Goal Areas: GE-02, GE-04

An in-depth analysis of financial accounting concepts and procedures, and includes coverage of the income statement, balance sheet, time value of money, receivables and inventories.

Prerequisites: ACCT 200

A discussion of various accounting information systems. Topics include documentation, internal control, system design, knowledge structures, database design, software evaluation, systems applications and current developments.

Prerequisites: none

Third Year

Fall - 15 Credits

Examines decision making by the individual firm, the determination of prices and wages, and current problems facing business firms.

Prerequisites: none

Goal Areas: GE-05

This course is designed to introduce students to the Management Information Systems and its application in organizations. The course will present to the students the information systems role to support the various managerial activities, and to help the students identify and evaluate various options in Management Information Systems.

Prerequisites: ISYS 101 or CIS 101

A continuation of Accounting 300. An in-depth analysis of long term liabilities, stockholders equity, leases, pensions, deferred taxes and the statement of cash flows.

Prerequisites: ACCT 300

The course examines the principles and procedures relating to the determination and computation of federal income taxes for an individual. Federal estate tax, gift tax, and income taxation of estates and trusts are also examined.

Prerequisites: ACCT 200, ACCT 210

Spring - 15 Credits

Emphasizes product and service costing, including job order and process costing systems. Other related topics are budgeting, pricing, cost-volume-profit analysis, standards and variance analysis.

Prerequisites: ACCT 200, ACCT 210

This course engages students in the study of the operations management function in manufacturing and service organizations. Students learn how to apply the basic analytical models to operation decisions involving topics such as scheduling, production technology, inventory management, quality assurance, just-in-time production, and others.

Prerequisites: ECON 207

International dimensions of business: global business environment (economic, cultural, legal, political) and international business functions (management, marketing, finance, exporting, importing).

Prerequisites: none

The course examines the principles and procedures relating to the determination and computation of federal income taxes for various business entities including sole proprietorships, corporations, partnerships and tax-exempt entities. The course also covers tax research procedures.

Prerequisites: ACCT 300, ACCT 330

Fourth Year

Fall - 14 Credits

A study of accounting principles and concepts for mergers, acquisitions, consolidated statements, foreign currency translation, partnerships, and governmental/not for profit.

Prerequisites: ACCT 301

An overview of the external audit process, the issues facing the auditing profession today, and assurance services. Includes detailed coverage of the AICPA Code of Conduct, audit planning, substantive testing, auditors' responsibilities for detecting fraud, and audit reports.

Prerequisites: ACCT 300

Spring - 16 Credits

Fundamentals of contracts, the law of sales under the UCC; the legal liability of accountants to clients and third parties. Formation of contracts; statute of frauds and parol evidence rule; contract performance; remedies for breach of contract; scope of UCC Article Two; sales warranties; remedies for breach of contracts.

Prerequisites: BLAW 200

MGMT 481 is an integrative course for COB majors. Its emphasis is on understanding the role of a general manager, which should include an operations and international component.

Prerequisites: FINA 362, MRKT 210, MGMT 230, MGMT 346

Transfer Pathways

A Transfer Pathway is a partnership between the Minnesota community colleges and Minnesota State University, Mankato. The Pathway suggests a plan for students with a specific associate degree to complete the last two years for a designated bachelor’s degree.

Students who are transferring to Minnesota State Mankato from a Minnesota community college should meet with an advisor in your college advising office to ensure the Pathway is an appropriate option for completing your degree.

More information on Transfer Pathways is available at https://mnsu.edu/pathways/about/

Third Year

Fall - 15 Credits

This course develops concepts and skills in algebra and introductory calculus needed to model applications in business, economics, social sciences and life sciences, using polynomials, exponentials, logarithms, linear systems, linear programming, sequences, series, derivatives and integrals.

Prerequisites: Satisfy Placement Table in this section, or grade of "C" (2.0) or better in either MATH 112 or MATH 115.

Goal Areas: GE-04

This course is required for admission to the College of Business for all business majors. The purpose of the course is to provide students with an overview of COB majors, allow students to create an academic plan for graduation, and develop professional skills needed for future job placement. Topics include cover letter and resume writing, interviewing skills, the process of networking, the internship program, etiquette skills, and requirements for graduation.

Prerequisites: none

An in-depth analysis of financial accounting concepts and procedures, and includes coverage of the income statement, balance sheet, time value of money, receivables and inventories.

Prerequisites: ACCT 200

A discussion of various accounting information systems. Topics include documentation, internal control, system design, knowledge structures, database design, software evaluation, systems applications and current developments.

Prerequisites: none

Spring - 15 Credits

This course is designed to introduce students to the Management Information Systems and its application in organizations. The course will present to the students the information systems role to support the various managerial activities, and to help the students identify and evaluate various options in Management Information Systems.

Prerequisites: ISYS 101 or CIS 101

A continuation of Accounting 300. An in-depth analysis of long term liabilities, stockholders equity, leases, pensions, deferred taxes and the statement of cash flows.

Prerequisites: ACCT 300

The course examines the principles and procedures relating to the determination and computation of federal income taxes for an individual. Federal estate tax, gift tax, and income taxation of estates and trusts are also examined.

Prerequisites: ACCT 200, ACCT 210

An introduction to finance relating to problems, methods, and policies in financing business enterprise.

Prerequisites: ACCT 200

Fourth Year

Fall - 15 Credits

Emphasizes product and service costing, including job order and process costing systems. Other related topics are budgeting, pricing, cost-volume-profit analysis, standards and variance analysis.

Prerequisites: ACCT 200, ACCT 210

This course engages students in the study of the operations management function in manufacturing and service organizations. Students learn how to apply the basic analytical models to operation decisions involving topics such as scheduling, production technology, inventory management, quality assurance, just-in-time production, and others.

Prerequisites: ECON 207

International dimensions of business: global business environment (economic, cultural, legal, political) and international business functions (management, marketing, finance, exporting, importing).

Prerequisites: none

The course examines the principles and procedures relating to the determination and computation of federal income taxes for various business entities including sole proprietorships, corporations, partnerships and tax-exempt entities. The course also covers tax research procedures.

Prerequisites: ACCT 300, ACCT 330

Spring - 15 Credits

A study of accounting principles and concepts for mergers, acquisitions, consolidated statements, foreign currency translation, partnerships, and governmental/not for profit.

Prerequisites: ACCT 301

An overview of the external audit process, the issues facing the auditing profession today, and assurance services. Includes detailed coverage of the AICPA Code of Conduct, audit planning, substantive testing, auditors' responsibilities for detecting fraud, and audit reports.

Prerequisites: ACCT 300

Fundamentals of contracts, the law of sales under the UCC; the legal liability of accountants to clients and third parties. Formation of contracts; statute of frauds and parol evidence rule; contract performance; remedies for breach of contract; scope of UCC Article Two; sales warranties; remedies for breach of contracts.

Prerequisites: BLAW 200

MGMT 481 is an integrative course for COB majors. Its emphasis is on understanding the role of a general manager, which should include an operations and international component.

Prerequisites: FINA 362, MRKT 210, MGMT 230, MGMT 346

Policies

Admission

Admission typically occurs at the beginning of the student's sophomore year. Multiple criteria are considered for admission to the Accounting major. Admission is competitive; meeting minimum requirements does not guarantee admission. Admission occurs during BUS 295: Professional Preparation for Business Careers. Deadlines for application are October 1 for Spring Semester and March 1 for Fall Semester.

Minimum cumulative (including Transfer) Grade Point Average of 2.5.

Completion of the following courses with a minimum grade of "C" (2.0): CIS 101, MATH 130, ACCT 200, BUS 295, ECON 201.

Graduation Requirements

Students pursuing the Accounting major must earn a minimum cumulative grade point average of 2.0 ("C") on the total courses required for the major and a 2.25 overall GPA to meet graduation requirements.

Accounting majors must earn a grade of a "C" or better in required Accounting and Business Law classes.

Transfer students must complete a minimum of 30 resident credits at the upper-division (300-400) level in the College of Business at Minnesota State Mankato.

Transfer students pursuing a major in the College of Business must complete at least 50% (one-half) of their major coursework at Minnesota State Mankato.