& Student Handbook - Saint Mary's University of Minnesota

Bachelor Degree Programs 65
Required Communication Courses: 6 cr.
CM309 Professional Writing................................................................3 cr.
CM310 Oral Communications .............................................................3 cr.
Required Capstone: 3 cr.
AC490 Accounting Capstone ..............................................................3 cr.
Faculty
The faculty members for the Bachelor of Science in Accounting program
have earned doctorate or master’s degrees. Faculty are selected for their
combination of educational and professional experience and expertise.
Required Course Descriptions
AC200
Financial Accounting Principles (3 cr.)
Students may transfer equivalent coursework
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 (GAAP) used in the
preparation and analysis of financial statements.
AC205
Managerial Accounting Principles (3 cr.)
Students may transfer equivalent coursework
Prerequisite: AC200
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.
AC300
Intermediate Accounting I (3 cr.)
Prerequisite: AC200
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.
AC305
Intermediate Accounting II (3 cr.)
Prerequisite: AC300
This course is a continuation of the comprehensive study of financial
accounting theory. Topics include fixed assets and depreciation, longterm
investments, current and contingent liabilities, long-term liabilities,
contributed capital, leases, accounting for income taxes, earnings per
share, and post-retirement benefits.
AC310
Business Taxation (3 cr.)
Prerequisite: AC200
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.
AC315
Cost Accounting (3 cr.)
Prerequisite: AC205
This course covers cost accounting as it applies to both manufacturing and
service organizations. Topics include job order and process cost systems,
budgeting, standard costing, and other selected accounting topics which
are used in management decision-making.
AC400
Advanced Accounting (3 cr.)
Prerequisite: AC305
This course examines advanced accounting problems, theory, and
financial statement presentations. Topics include consolidations,
business combinations, governmental and non-profit reporting,
partnership accounting, and foreign exchange transactions.
AC405
Auditing (3 cr.)
Prerequisite: AC300
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.
AC410
Corporate Finance (3 cr.)
Prerequisite: AC205
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.
Electives
AC308
Individual Taxation (3 cr.)
Prerequisite: AC200
This course provides an introduction to federal income tax law and
regulations for individuals. Topics include determination of gross income
and taxable income for individuals, the impact of divorce, estates and
trusts, and other ways of minimizing individual taxes.
AC415
International Accounting (3 cr.)
Prerequisite: AC400
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,