Quick Links: Degree Requirements Pre-Major Requirements Minor Requirements Quick Fact No. 22 The LSBE Economics Club assists students in the development of economic knowledge through social and academic activities that interact with faculty and fellow members.

B.Acc.

Today’s accountants have become key strategists in the boardroom. LSBE’s programs reflect that shift.

BAcc Description
Our training not only prepares you to keep the books, but also to interpret key business intelligence that allows clients to clearly see the risks and rewards before them.

The field is growing and the need for talented people is greater than ever. Globalization and the growing complexity of business have greatly increased the need for highly trained accountants, yet the recent supply of graduates is smaller. As a result, companies are asking more of their accountants than in the past. Our program, therefore, is designed to provide you with more information than ever before.

Where the Jobs Are
Public accountants perform audits, other “assurance” services and, of course, tax preparation. They also do “forensic” accounting, helping businesses uncover fraud. Information technology design and business consulting are two other popular areas.

In the private industry, accountants handle financial management and reporting, internal auditing, management accounting and analysis, and tax planning. Accountants can also serve as a company’s controller, treasurer, chief financial officer or other executive.

Accountants in government and non profit sectors perform audits, financial reporting, compliance audits, and investigative audits.

Skills for Success
Companies are looking for accountants with technical knowledge, but those who also possess strong communication and analytical skills are even more attractive. Employers want someone who can analyze complex problems and give solutions, and that’s exactly what we teach you.

The primary professional certification in public accounting is the Certified Public Accountant (CPA). In Minnesota, as in most other states, the State Board of Accountancy requires students to complete 150 hours of education before they become certified as a CPA. All 150 hours may be taken at the undergraduate level or a combination of undergraduate and graduate level courses may be used. At UMD, students can choose to:

• combine their BAcc degree with an MBA, MBT, or MAcc program.
• combine their BAcc degree with another major within the School;
• combine their BAcc degree with a minor from the School or another college, such as computer science, communications, or criminal justice, etc.;
• combine their BAcc degree with the additional undergraduate coursework in accounting, business, or other discipline such that the total equals or exceeds 150 hours.

Other types of professional certifications for accountants in private industry do not require 150 hours of education. The Certified Management Accountant (CMA) certificate is issued by the Institute of Management Accounting. The Certified Internal Auditor (CIA) certificate is issued by the Institute of Internal Auditors. The BAcc degree program also serves as basic preparation for both the CMA and CIA examinations.

A number of active learning opportunities are available through UMD’s accounting program. Acct 3196—Internship in Accounting, gives you the opportunity to use your skills on real world accounting problems in sponsoring businesses. Most internships pay a salary and offer credits toward your degree. Also, Acct 3096—Volunteer Income Tax Assistance, gives you an opportunity to learn about our tax system and volunteer with diverse clientele.

Bachelor of Accounting (BAcc)
The Bachelor of Accounting (BAcc) program prepares you for a successful career by not only teaching core competencies in accounting, but by providing the general business knowledge needed in today’s competitive environment.

You will develop a deep understanding of financial accounting and accounting theory; management accounting; accounting information and computer systems; financial, operational, and information systems audit; and taxation.

Additionally, because accountants are increasingly becoming involved in more aspects of running organizations, our accounting curriculum is combined with courses in other business areas. This means you will learn the foundations of business law, finance, information systems, marketing, operations, and management, as well as a broad general education, including the areas of the behavioral sciences, the humanities, English, communication, the arts, mathematics, and statistics.

Upon graduation, you will possess highly specialized accounting skills and a broad understanding of other issues facing today’s organizations. You will have the foundational knowledge to grow into a business leader and a successful profession, no matter which direction you would like your career to grow.

Admission Requirements
During the first semester of the sophomore year (30 credits completed), LSBE baccalaureate students must apply for candidacy for their degrees. To be eligible for candidacy, a student must meet all GPA criteria and have completed all pre-major requirements. (See Student Affairs section for more detail on application and admission to candidacy. http://www.d.umn.edu/lsbe/studaffairs/studaffairs_clarify.php) Students who do not qualify for admission to candidacy may not take LSBE upper division courses without the permission of the director of student affairs.

Degree Requirements
Requirements for the BAcc degree (120 credits) include:

• Liberal education requirements
• At least one course each for the international perspective requirement and the cultural diversity requirement must be taken within the liberal education requirements.
• Completion of at least 30 degree credits at UMD. At least 20 of the last 30 degree credits immediately before graduation must have been taken at UMD. At least 50 percent of required business, accounting and upper division economics credits must be taken at UMD.
• Compliance with the general regulations governing granting of degrees.
• There will be strict limitations on use of correspondence courses. See LSBE Student Affairs, SBE 21.
• No more than 50 percent of the minimum 120 credits required for the BAcc degree may be in accounting, business, or economics courses.
• Students choosing to pursue a double major, or a major and a minor, within the school will likely exceed 120 total degree credits.
• Students pursuing more than one degree must complete requirements for both degrees.

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Lower Division (60)
Liberal Education Program Requirements (35)
See Liberal Education Program in the Policies and Procedures section of the catalog for each category’s title, specific guidelines, and a complete list of approved courses, including Comp 1120—College Writing. LSBE students are encouraged to take at least one year of college-level foreign language.

Pre-major Requirements Acct 2001—Principles of Financial Accounting (3)
Acct 2002—Principles of Managerial Accounting (3)
BLaw 2001*—The Legal Environment (3)
Comm 1112*—Public Speaking
or Comm 1222*—Interpersonal Communications (3)
or Foreign Language courses (see Student Affairs staff for approved courses)
Comp 1120 College Writing (3)
Econ 1022*—Principles of Economics: Macro (3)
Econ 1023*—Principles of Economics: Micro (3)
Econ 2030—Applied Statistics for Business and Economics (3)
FMIS 2201—Information Technology in Business (3)
Math 1160*—Finite Mathematics and Introduction to Calculus (5)
or Math 1296—Calculus I (5)
Psy 1003*—General Psychology (4)
SSP 1000**—Introduction to College Learning (1)
*Courses that may be used to fulfill UMD liberal education program requirements.
**Not required for transfer students or for students who change colleges into LSBE.

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Electives
Additional non-LSBE courses to bring total to 60 pre-candidacy credits. (Non-LSBE statistics courses cannot be used to fulfill elective requirements.)

Upper Division (60)
Communication Skills Requirement (3)
Comp 3121—Advanced Writing: Business

Accounting-Business Law Core (27)
Acct 3101—Intermediate Accounting I (3)
Acct 3102—Intermediate Accounting II (3)
Acct 3110— Accounting Information Systems (3)
Acct 3401 —Individual Income (3)
Acct 3201—Cost Accounting (3)
Acct 4160—Auditing (3)
BLaw 3001—Law and Ethics for Financial Professionals(3)
Approved Accounting electives (two courses) (6 cr)

LSBE Core (24)
FMIS 3141—Business Communications (3)
MgtS 3801—Human Resource Management (3)
FMIS 3301—Production and Operations Management (3)
FMIS 3601—Corporation Finance (3)
MgtS 3401—Organizational Behavior and Management (3)
Mktg 3701—Principles of Marketing (3)
MgtS 4481—Strategic Management (3)

Upper division economics elective (3 cr)

Supporting Courses (6)

1. International Requirement—Any course from the list of upper division courses approved for the major or minor in international studies for the BA degree (must be outside of LSBE if International Accounting is not used as an accounting elective or if neither ECON 3402 nor ECON 3410 are used to fulfill the upper division economics elective requirement).
2. Upper division non-LSBE electives to bring total to 60 credits.

Minor Requirements
If you are focusing on another business major, a minor in accounting helps you understand the important role accounting plays in business growth. The minor also offers training for entry into positions in government, industry, and social service organizations that require an understanding of accounting, but not the depth provided by the B.Acc. degree program.

While completing this minor, no more than 25 percent (30 credits) of total credits required for a degree may be drawn from the courses offered by the LSBE or recognized by the school as equivalent transfer courses. Economics courses are excluded from these calculations.

Students must apply for admission to the minor before completing Econ 2030—Applied Statistics for Business and Economics or equivalent non-LSBE statistics course and are admitted after completing the pre-minor requirements, and after earning a minimum of 50 credits. Admission to the minor is based on the same GPA requirements as admission to candidacy for LSBE baccalaureate degrees. Applications are available in SBE 21.

Accounting Minor for Non-LSBE Students
Pre-Minor Core (15-22)
Acct 2001—Principles of Financial Accounting (3)
Acct 2002—Principles of Managerial Accounting (3)
Econ 1003*—Economics and Society (3)
or Econ 1022*—Principles of Economics: Macro (3)
and Econ 1023*—Principles of Economics: Micro (3)
Econ 2030—Applied Statistics for Business and Economics (3)
or equivalent statistics course (3-4)
CS 1011*—Introduction to Computers and Software (3)

Required Courses (9)
Acct 3101—Intermediate Accounting I (3)
Acct 3110—Accounting Information Systems (3)
LSBE 1101*—The Business Environment (3)

Electives
Select two courses (6)
Acct 3102—Intermediate Accounting II (3)
Acct 3401—Individual Income (3)
Acct 3201—Cost Accounting (3)

*Courses that may be used to fulfill UMD liberal education program requirements.

Accounting Minor for BBA Candidates (12)
Required Courses (6)
Acct 3101—Intermediate Accounting I (3)
Acct 3110—Accounting Information Systems (3)

Electives
Select two courses (6)
Acct 3102—Intermediate Accounting II (3)
Acct 3401—Individual Income (3)
Acct 3201—Cost Accounting (3)

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