2018-2019 Academic Catalogs
Department of Accounting and Finance
1-800-777-0750, ext. 3207
College of Business Web Site:
ACCT 200. Elements of Accounting I. 3 Hours.
Basic principles of the complete accounting cycle with emphasis on current assets; property, plant, and equipment; and current liabilities. Prerequisite: MATH 103.
ACCT 201. Elements of Accounting II. 3 Hours.
ACCT 299. Special Topics In Accounting. 1-8 Hour.
ACCT 301. Intermediate Accounting I. 3 Hours.
Begins with a review of the accounting process and the conceptual framework underlying financial accounting. It proceeds to an in-depth study of cash, time value of money, receivables, and inventory. Prerequisites: ACCT 201 and BOTE 247.
ACCT 302. Intermediate Accounting II. 3 Hours.
Continues the intermediate sequence with in-depth coverage of operational assets (tangible and intangible), liabilites (current and long-term), stockholders equity, and investments. Prerequisite: ACCT 301.
ACCT 303. Intermediate Accounting III. 3 Hours.
ACCT 303 Intermediate Accounting III 3cr. Concludes the intermediate sequence with in-depth coverage of the statement of cash flow, pensions, and post retirement benefits, leases, earnings, per share, financial statement analysis, accounting for income taxes, accounting changes and error analysis, revenue rocognition, and financial reporting. Prerequisite: ACCT 302.
ACCT 315. Legal Environment of Business. 3 Hours.
Includes the nature and function of law; contracts and private property as basic concepts in free enterprise; the legal system and evolution of attitudes and law regarding marketing functions and governmental regulation imposed on business activities. Prerequisite: Restricted to students with sophomore, junior or senior status.
ACCT 321. Managerial Accounting. 3 Hours.
Emphasizes structuring and analyzing accounting data for management decisions related to manufacturing, merchandising, and service entities. Prerequisite: Student must complete ACCT 201 before enrolling in this class. Corequisite: Student must complete BADM 301 before or at the same time as this course.
ACCT 322. Advanced Managerial Accounting. 3 Hours.
Addresses cost allocation, inventory methods, and concepts, process and activity based costing systems, standard costing, and performance measures. Prerequisite: ACCT 321.
ACCT 325. Government/Not-For-Profit Accounting. 3 Hours.
Covers accounting principles for state and local governental units, universities, hospitals, and other not-for-profit organizations. Topics include budgetary accounting, the preparation of reports and statements, and the use of special funds. Prerequisite: Student must complete ACCT 301 before enrolling in this class.
ACCT 331. Business Law I. 3 Hours.
Topics include contracts (formation, performance, rights, and remedies), negotiable instruments, and legal matters relating to the finacail/banking community. Prerequisites: Junior or senior statues and consent of instructor. Prerequisite: Restricted to students with junior or senior status.
ACCT 332. Business Law II. 3 Hours.
Topics includes Uniform Commercial Code (Art. 2, sales contracts), Uniform Commercail Code (Art. 9, secured transactions), employment/agency law. Prerequisite: ACCT 331.
ACCT 351. Fraud Examination. 3 Hours.
This course is designed to provide the student with an introduction to the skills necessary to detect, investigate, and prevent fraud, and white-collar crime. The material covered in this course should be of interest to accountants, auditors, fraud investigators, loss prevention specialists, attorneys, educators, criminologists, or business owners/managers. The purpose of this course is to 1) educate the student about both the pervasiveness of and the causes of fraud and white-collar crime in our society, 2) explore the methods of fraud detection, investigation, and prevention, and 3)increase the student's ability to detect material financial statement fraud. Prerequisite: ACCT 200.
ACCT 360. Accounting Information Systems. 3 Hours.
Emphasizes how accounting informaiton systems function in today's business environment. Manual and computer systems will be used to study the processes and procedures by which an organization's financial information is accumulated, classified, processed, analyzed, and communicated. Topics include business cycles, controls, integrated accounting software, spreadsheets, and relational databases. Prerequisites: Students must complete ACCT 201 and BOTE 247 before enrolling in this class.
ACCT 375. Principles of Energy Accounting. 3 Hours.
Provides a study of the accounting and taxation principles and theories relating to the energy industry. The course will focus on specific accounting entries, presentation on and impact to financial statements, and taxation concepts relating to oil, gas, and other energy companies.
Prerequisite: ACCT 201.
ACCT 394. Independent Study General Acct. 1-4 Hour.
ACCT 401. Advanced Accounting I. 3 Hours.
Advanced Accounting I addresses issues related to business combonations and consolidated financial statements as well as partnership accounting. Prerequisite: ACCT 302.
ACCT 411. Taxation of Individuals. 3 Hours.
Provides a study of federal taxation principles and theories relating to individuals with emphasis on the determination of gross income and taxable income. Taxation of self-employment income will be examined and taxation of property transactions is introduced. Students apply these principles by preparing federal income tax returns, and by performing tax research. Prerequisite: Student must complete ACCT 201 before enrolling in this class.
ACCT 412. Taxation of Property Transactions and Business Entities. 3 Hours.
Provides a study of federal taxation principles and theories relating to corporations, partnerships, LLCs and S Corporations. Taxation of property transactions will be studied thoroughly. Students will apply these principles by preparing various types of federal income tax returns and by performing tax research and tax planning. Prerequisite: Student must complete ACCT 411 before enrolling in this class.
ACCT 415. Energy Law. 3 Hours.
Energy Law is an ever-changing discipline that emphasizes how both individuals and businesses interact with the law related to the energy industry on a day-to-day basis. This course will focus on the relationships between energy corporations and the individual land owner or service provider as well as the relationships between environmental laws and production. Prerequisite: Student must complete ACCT 300 before enrolling in this class.
ACCT 430. Auditing/Assurance Concepts & Practices. 3 Hours.
Introduces audit theory, standards, responsibilities, and processes. Study of audit principles and practices including evidence gathering, internal controls, sampling and testing, report writing, ethics and legal liabilities. Prerequisite: Student must complete ACCT 302 before enrolling in this class.
ACCT 431. Advanced Auditing & Assurance. 3 Hours.
Discusses compilations, reviews, examinations and other assurance services. Explores contemporary auditing and assurance issues. Prerequisite: Student must complete ACCT 430 and MATH 210 before enrolling in this class.
ACCT 480. Controllership. 3 Hours.
Examines the role of a controller as a vital member of an organization's management team. Students exercise judgement in solving accounting-related problems by synthesizing and applying knowledge gained from previous business coursework. Focus will be placed on cost management, budgeting, organizational behavior, ethics, cash management, policy-making, internal control, performance measurement, compensation and benefits accounting information systems, and tax compliance. Prerequisites: Student must complete ACCT 321, ACCT 430, have senior status and complete the College of Business core courses before enrolling in this class.
ACCT 494. Independent Study Honors Acct. 1-8 Hour.
ACCT 495. Seminars in Leadership Development. 3 Hours.
Special topics in leadership including concepts, principles, and processes to facilitate effective, compassionate, and ethical leadership within the leader/follower relationship. The course will the relevance of self-awareness, self-management, environmental situations, social awareness and responsibility, and relationship management in authentic leadership. Prerequisites: Restricted to College of Business majors and minors and students with junior or senior status. Instructor consent is required.
ACCT 497. Accounting Internship. 1-12 Hour.
Refers to supervised professional experience in public, industrial, governmental, or non-profit accounting. Students must meet standards set by both the employer and the Accounting Department. A maximum of 2 credits count toward the major with the remaining credits counting as electives. This course is restricted to accounting majors. Consent of program coordinator required.
ACCT 499. Special Topics. 1-8 Hour.
Topics are variable. Offerings include visiting professors, experimental offerings of new courses, or one time offering and current topics.
FIN 251. Personal Finance. 3 Hours.
Introduces the consumer to money management and the development of long and short term personal financial planning. Topics include budgeting, consumer credit, saving and investing, insurance planning, retirement and estate planning, real estate investment, and shelter planning. An excellent course for beginning students and nonbusiness majors.
FIN 281. Fundamentals of Energy. 3 Hours.
An introductory course in energy fundamentals, which will include an overview of various energy sources, energy terms and definitions, and calculations related to energy. Energy economics and management are emphasized. Energy calculations, such as unit cost for petroleum and unit cost for electricity will be taught.
FIN 299. Special Topics in Finance. 2-3 Hour.
FIN 353. Corporation Finance. 3 Hours.
Introduces the student to the essentials of financial management. Coverage includes financial analysis, working capital management, capital budgeting, cost of capital, dividend policy, and long term financing decisions. Prerequisites: ACCT 201 and MATH 210.
FIN 355. Investments. 3 Hours.
Introduces the student to the principles of investment. Topics to be covered include: description of the investment environment and investment decisions; introduction to investment, securitym and portfolio theories; financial statement analysis; the implications of the Efficient Market Hypothesis for active and passive portfolio management; and analysis, valuation and management of equities, fixed income securities, indices adn indexed funds, and derivative securities. Prerequisites: FIN 353 and ECON 201 and 202.
FIN 357. Advanced Corporate Finance. 3 Hours.
An advanced course which examines issues related to financing the corporation including capital structure, valuation of various forms of dept and equity financing, capital budgeting decisions, dividend policy decisions, financial analysis, forecasting and managing risk with financial instruments. Prerequisite: FIN 353.
FIN 360. Entrepreneurial Finance. 3 Hours.
Introduces the student to the theories, knowledge, and financial tools needed by the entrepreneur in starting, building, and harvesting a successful venture. Topics include financing a new venture, managing profit and cash flow, financing the growth of the firm, alternative financing methods, creation of value, valuation methods, financial distress, and harvesting a successful venture. A primary focus is on the financial aspect of the business plan. Prerequisite: FIN 353.
FIN 421. International Energy Markets. 3 Hours.
This course introduces students to International Energy Markets. It will examine energy industry market structure and how it relates to business decision-making. The course will examine both renewable and non-renewable energy industry market structures. The course will provide fundamental economic knowledge needed to implement decisions related to the energy industry. It will review supply and demand structures of the energy market as well as various energy forecasting methodologies. The course will use energy data analysis methodology as a tool for analyzing future energy requirements.
Prerequisites: Students must complete FIN 281 ECON 320, and FIN 353.
FIN 443. Real Estate Finance. 3 Hours.
Introduces the students to the basic principles of real estate, real estate law, and real estate finance. Topics include teh ownership and transfer of real estate property, legal instruments, analysis of real estate markets, real estate appraisals, legal aspects of real estate, and financing residential, commercial, and income property. Prerequisites: FIN 353 and ACCT 300.
FIN 451. Insurance & Risk Management. 3 Hours.
Examines the naturs of risk and risk management from a social, individual, business and organizational perspective. Explores the available risk management tools and alternatives including insurance. Prerequisites: FIN 353 and ACCT 300.
FIN 454. Portfolio Theory. 3 Hours.
Studies advanced concepts relating to investment to include financial statement analysis, stock market efficiency and anomalies, derivative securities, valuation of dept, equity securities and modern portfolio theory. Prerequisite: FIN 355.
FIN 455. Financial Institutions & Markets. 3 Hours.
Focuses on the management of depository and non-depository financial institutions and teh use of the money and capital markets in financial management straegy. Institutional emphasis includes banks, S & L's, credit unions, investment companies, real estate investment trusts, finance companies, insurance companies, and pension funds. Prerequisite: FIN 353.
FIN 457. International Corporate Finance. 3 Hours.
Examines financial management implications of exchange risk exposure, accounting conventions, international constraint on capital flows, international investment management, foreign taxation, and working capital management of international firms. Prerequisite: FIN 353.
FIN 458. Financial Analysis and Valuation. 3 Hours.
Provides a framework for using financial statement data in a variety of business analysis and valuation contexts used by management, security analysts, bankers, and business consultants. The student will be taught the concepts and tolls to analyze financial statements and cash flows in order to evaluate the effectiveness of a company's strategy and to make sound financial decisions.
Prerequisite: FIN 357 and senior status.
FIN 459. Advanced Project Evaluation. 3 Hours.
This course addresses project evaluation and risk analysis for the energy industry and applies quantitative and statistical techniques to investment decisions. The course will emphasize modeling and forecasting methodologies. Software applications will include standard statistical and risk analysis software packages. Prerequisite: Student must complete FIN 281 and FIN 357 before enrolling in this class.
FIN 491. Seminar in Energy Topics. 2 Hours.
This course introduces current practices and trends and reviews applications that are used in the energy industries. The topics presented will focus on both the short and long-term energy outlook for society. Both renewable and non-renewable energy topics will be presented by industry leaders and experts. Both North Dakota and global energy forecasting needs will be discussed.
FIN 495. Seminars in Leadership Development. 3 Hours.
Special topics in leadership including concepts, principles, and processes to facilitate effective, compassionate, and ethical leadership within the leader/follower relationship. The course will examine the relevance of self-awareness, self-management, environmental situations, social awareness & responsibility, and relationship management in authentic leadership. Prerequisites: Restricted to College of Business majors and minors and students with junior or senior status. Instructor consent is required.
FIN 497. Internships. 2-9 Hour.
A cooperative occupational training program in the area of finance. Maximum of 3 credits will count toward major. Prerequisites: restricted to major, junior or senior status and consent of the department.
FIN 499. Special Topics. 1-16 Hour.
Topics are variable. Offerings include visiting professors, experimental offerings of new courses, or one time offerings of current topics.
Accounting and Finance Faculty
Dean A. Frantsvog
Jerry M. Stai
Jay L. Wahlund