2014-2015 Catalog

Accountancy (Acct)

http://www.business.und.edu/accounting

Altepeter, Byars, Campbell, Carlson (Chair), de Magalhaes, Dosch, Ellingson, Hansen, Harmeson, Loyland, Notbohm and Wilde

College of Business and Public Administration 

The Department of Accountancy has been preparing individuals for careers in business, including professional accounting, since 1927. Faculty have a long-standing tradition of interaction with a wide range of accounting professionals. Department faculty were instrumental in establishing the North Dakota Society of Certified Public Accountants.

Professional accountants face a variety of challenges and opportunities in their careers. To achieve success as a professional accountant, individuals must have a sound foundation in the liberal arts and sciences, a broad general understanding of business, a solid technical base in accounting, and a well developed ability to communicate in oral and written form. The accounting programs offered by the faculty provide the range of experience and knowledge needed for success as a professional accountant. The faculty’s programs also fulfill general University and College of Business graduation requirements.

Mission Statement

The mission of the Department of Accountancy is to prepare individuals for professional careers in accounting and business.

Values Statement

Faculty value:

  • High quality teaching, scholarship and professional and public service;
  • Relevance and innovation in curriculum, instructional methods, scholarship and professional and public service;
  • Good relationships with our alumni and recruiters;
  • Interaction with the profession and community;
  • High standards of professional and ethical conduct;
  • A climate that fosters continuous improvement.

Vision Statement

Faculty see a future where:

  • UND’s Accountancy program is recognized by employers and the general public as the best in the region. When people in the region think of accounting, they will think of UND;
  • The Accountancy faculty are leaders in the College of Business and Public Administration.

Programs

Accountancy faculty offer two programs — the Bachelor of Accountancy (B.Acc.) and the Bachelor of Business Administration with a major in Managerial Finance and Accounting (B.B.A.), offered jointly with the Department of Finance. The B.Acc. program is designed for students interested in becoming Certified Public Accountants (CPA). The CPA is a national designation that requires passage of a qualifying examination. The requirements to sit for the CPA examination are governed by individual states (more about the CPA examination below).

The B.B.A., a joint program in finance and accountancy, provides some flexibility for students to tailor their programs of study. As such, it is designed primarily for individuals interested in becoming a Certified Management Accountant (CMA) or a Certified Financial Manager (CFM). Both the CMA and CFM are national designations that also require the passage of a national examination. Students have the option to emphasize either managerial finance or corporate accounting with the available electives.

The Certified Public Accountant (CPA) Examination

While the American Institute of CPAs writes the CPA examination, each state is responsible for establishing the requirements to use the CPA designation. According to North Dakota law and rules of the North Dakota State Board of Accountancy, individuals are currently eligible to sit for the Uniform Certified Public Accountant Examination with a bachelor’s degree that includes at least 24 hours of accounting beyond Elements and 30 hours of business courses and at least 150 semester hours of college courses.

The B.Acc. program meets the current requirements for accounting and business courses, however, the B.Acc. program does not meet the 150 hour requirement. Students interested in becoming CPAs should be prepared to either extend their undergraduate program by an additional 24 credit hours or to continue their study at the graduate level. The most likely graduate alternative would be the Master of Accountancy (MAcc) or the Master of Business Administration (MBA).

The Certified Managerial Accountant (CMA) Examination

The Institute of Management Accountants (IMA) establishes the standards or criteria for achieving the CMA designation. While the CMA examination is similar to the CPA examination, the CMA examination concentrates more heavily on corporate accounting and financial analysis.


B.B.A. with Major in Managerial Finance and Accounting

 

Bachelor of Accountancy

Required 126 credits (36 of which must be numbered 300 or above, and 60 of which must be from a 4-year institution) including:

I. Essential Studies Requirements (see University ES listing).

II. College of Business and Public Administration Requirements, see College listing and including:

ACCT 200
  & ACCT 201
Elements of Accounting I
   and Elements of Accounting II
6
ACCT 315Business in the Legal Environment3
ISBC 117Personal Productivity with Information Technology1
ISBC 317Information Systems in Enterprise3
ECON 201Principles of Microeconomics3
ECON 202Principles of Macroeconomics3
ECON 210Introduction to Business and Economic Statistics3
ECON 303Money and Banking3
MATH 103College Algebra3
MATH 146Applied Calculus I3
MGMT 300Principles of Management3
MGMT 301Operations Management3
FIN 310Principles of Financial Management3
MGMT 475Strategic Management3
MRKT 305Marketing Foundations3
POLS 115American Government I3
COMM 110Fundamentals of Public Speaking3
Select one of the following:3
Introduction to Cultural Anthropology
Introduction to Psychology
Introduction to Sociology
Total Credits55

III. The following Major Requirements:

ACCT 218Advanced Spreadsheet Applications3
ACCT 301
  & ACCT 302
Intermediate Accounting I
   and Intermediate Accounting II
6
ACCT 309Accounting Information Systems3
ACCT 316Business Law3
ACCT 320Accounting for Production3
ACCT 401Advanced Accounting3
ACCT 405Assurance Services3
ACCT 411Business Income Taxation3
ACCT 450Contemporary Issues in Accounting3
Select two of the following:6
Fund Accounting
Contemporary Accounting Theory
Independent Assurance
Federal Individual Income Tax
Advanced Tax
Advanced Business Law
Total Credits36

IV. Students must complete at least 90 semester hours of non-accounting courses. ACCT 218 Advanced Spreadsheet Applications and business law courses are not considered accounting courses for this requirement.

 

B.B.A. with Major in Managerial Finance and Accounting

Required 127 credits (36 of which must be numbered 300 or above, and 60 of which must be from a 4-year institution) including:

I. Essential Studies Requirements (see University ES listing).

II. College of Business and Public Administration Requirements (see BPA College listing) and including:

ACCT 200
  & ACCT 201
Elements of Accounting I
   and Elements of Accounting II
6
ACCT 315Business in the Legal Environment3
ISBC 117Personal Productivity with Information Technology1
ISBC 317Information Systems in Enterprise3
ECON 201Principles of Microeconomics3
ECON 202Principles of Macroeconomics3
ECON 210Introduction to Business and Economic Statistics3
ECON 303Money and Banking3
MATH 103College Algebra3
MATH 146Applied Calculus I3
MGMT 300Principles of Management3
MGMT 301Operations Management3
FIN 310Principles of Financial Management3
MGMT 475Strategic Management3
MRKT 305Marketing Foundations3
POLS 115American Government I3
COMM 110Fundamentals of Public Speaking3
Select one of the following:3
Introduction to Psychology
Introduction to Sociology
Introduction to Cultural Anthropology
Total Credits55

III. The following Major Requirements:

ACCT 218Advanced Spreadsheet Applications3
ACCT 301
  & ACCT 302
Intermediate Accounting I
   and Intermediate Accounting II
6
ACCT 309Accounting Information Systems3
ACCT 320Accounting for Production3
FIN 340Intermediate Financial Management3
FIN 350Financial Statement Analysis3
FIN 360Capital Market Financing and Investment Strategies3
FIN 475Cases in Managerial Finance3
At least three upper-division courses from Accountancy or Finance9
Total Credits36

Courses

ACCT 200. Elements of Accounting I. 3 Credits.

Basic principles of the complete accounting cycle. F,S.

ACCT 201. Elements of Accounting II. 3 Credits.

Special emphasis on partnership, corporate accounting, and the uses of accounting information by managers. Prerequisite: ACCT 200 or 275. F,S.

ACCT 218. Advanced Spreadsheet Applications. 3 Credits.

Advanced techniques in computer spreadsheet applications. Prerequisite: ISBC 117. Prerequisite or Corequisite: ACCT 201 F,S.

ACCT 275. Accounting for Pre-MBA. 3 Credits.

No credit allowed to students who have completed ACCT 201. Financial and managerial accounting concepts and practices oriented towards the decision maker. F,S.

ACCT 301. Intermediate Accounting I. 3 Credits.

Concepts, time value of money, current assets, current liabilities, plant and equipment, and intangibles. Prerequisite: ACCT 201. Prerequisite or Corequisite: ACCT 218; Sophomore, Junior or Senior Standing; declared and pre-CoBPA majors only. F,S.

ACCT 302. Intermediate Accounting II. 3 Credits.

Corporations, long-term liabilities, investments, statement analysis, and cash flow statement. Prerequisites: ACCT 301 and Junior or Senior Standing; declared CoBPA majors only. F,S.

ACCT 309. Accounting Information Systems. 3 Credits.

The application of systems design and use from the accountant's perspective. Coverage includes computerized and manual accounting systems, elements of internal control, flowcharting, and the interface of accounting and management information systems. Prerequisites: ACCT 301 and Junior or Senior Standing; declared CoBPA majors only. F,S.

ACCT 312. Fund Accounting. 3 Credits.

Financial accounting, control, and reporting for governmental and not-for profit entities. Prerequisites: ACCT 201 and ACCT 218; Junior or Senior Standing; declared CoBPA majors only. F,S.

ACCT 315. Business in the Legal Environment. 3 Credits.

The legal environment of business, governmental regulation, contracts, and property. Prerequisite: Sophomore, Junior or Senior Standing. Prerequisites or Corequisites: ACCT 201 and ECON 202; minimum total of 50 credit hours; declared and pre-CoBPA majors only. F,S.

ACCT 316. Business Law. 3 Credits.

Commercial paper, secured transactions, business organizations, and liability of professionals. Prerequisites: ACCT 315; Junior or Senior Standing; declared CoBPA majors only. F,S.

ACCT 320. Accounting for Production. 3 Credits.

Principles and techniques used to account for and analyze costs incurred to produce products or services. Prerequisite: ACCT 201. Prerequisites or Corequisites: ACCT 218; Sophomore, Junior or Senior Standing; declared and pre-CoBPA majors only. F,S.

ACCT 380. International Accounting. 3 Credits.

Topics include comparative accounting systems, environmental influences on accounting, international financial statement analysis, foreign currency transactions, international standards harmonization, international taxation, transfer pricing, and multinational performance evaluation. Prerequisites: ACCT 201; Junior or Senior Standing; declared CoBPA majors only. S.

ACCT 397. Cooperative Education. 1-12 Credits.

On the job compensated work experience in various areas of Accounting. Prerequisites: ACCT 301, ACCT 320, minimum 2.70 GPA, and the approval of the Director of Accounting Cooperative Education. F,S,SS.

ACCT 401. Advanced Accounting. 3 Credits.

Special problems in accounting including consolidated statements, partnerships, and foreign exchange. Prerequisites: ACCT 302; Junior or Senior Standing; declared CoBPA majors only. F,S.

ACCT 403. Contemporary Accounting Theory. 3 Credits.

A study of the emerging issues and the problems facing the accounting profession with special emphasis on the authoritative pronouncements as designated by the American Institute of CPAs and the Financial Accounting Standards Board. S-U grading not allowed. Prerequisite or Corequisite: ACCT 401 or consent of instructor; declared CoBPA majors only. F,S.

ACCT 405. Assurance Services. 3 Credits.

Explores methods of improving the quality of information or its context for decision makers. Examples include assurances on the reliability of financial statements, the processes and controls used to manage and operate businesses, assertions and agreements made to third parties, and regulatory compliance. Prerequisites: ACCT 302, ACCT 309, ECON 210; Junior or Senior Standing; declared CoBPA majors only. F,S.

ACCT 406. Independent Assurance. 3 Credits.

Auditing and assurance theory as applied by independent accountants. Prerequisites: ACCT 405 or consent of instructor; declared CoBPA majors only. F,S.

ACCT 410. Federal Individual Income Tax. 3 Credits.

Federal income tax relating to individuals to include the more complex tax situations. A computerized individual income tax preparation is used as a part of the course. Prerequisites: ACCT 201; Junior or Senior Standing; declared CoBPA majors only. F,S.

ACCT 411. Business Income Taxation. 3 Credits.

Federal income tax relating to corporations and partnerships. Introduction to estate and gift tax and fiduciary income tax. Prerequisites: ACCT 302; Senior Standing; declared CoBPA majors only. F,S.

ACCT 412. Advanced Tax. 3 Credits.

Unified transfer tax, trusts and estates, other contemporary topics as appropriate, and techniques of tax research. Prerequisites: Consent of the instructor, open to declared CoBPA majors only. S.

ACCT 416. Advanced Business Law. 3 Credits.

Advanced topics and contemporary issues in business law including ethics, legal representation in business, and the impact of selected governmental regulations on businesses. Prerequisites: ACCT 315 and Senior Standing; declared CoBPA majors only. F,S.

ACCT 450. Contemporary Issues in Accounting. 3 Credits.

A critical analysis of contemporary issues in accounting. Written and oral presentations are required. Prerequisites: ACCT 302, ACCT 405; Senior Standing; declared CoBPA majors only.

ACCT 494. The Literature of Accounting. 1-3 Credits.

Directed studies in the recognized journals, periodicals, and professional publications of the field. Prerequisites: Consent of the instructor, open to declared CoBPA majors only.

Office of the Registrar

Tel: 701.777.2711
1.800.CALL.UND
Fax: 701.777.2696

Twamley Hall Room 201
264 Centennial Drive Stop 8382
Grand Forks, ND 58202-8382