Courses in Accounting

Personal Financial Management

ACCT 1700     3.00 Credits
Course Outline
The purpose of this course is to provide insight into personal financial decision making. This includes budgeting, banking, use of credit and credit cards, renting vs. owning a home, retirement investing, investment opportunities, insurance, income taxes, wills, and effects of financial distress on one's life. In addition, we will compare income levels for various occupations. Students will examine real life situations. There will be some professional guest speakers who will share their expertise with the students. (Prerequisites: None)

Business Law

ACCT 1800     3.00 Credits
Course Outline
This course is an introduction to the principles of law as they apply to citizens and businesses. Topics include ethics, the court system, the legal system, contracts, negotiable instruments, agency and employment, bailments, business organizations, sales and insurance. (Prerequisites: None)

Financial Accounting

ACCT 1810     4.00 Credits
Course Outline
This course covers the fundamental accounting concepts and principles which are used in a business environment. Topics include an introduction to accounting and business, completing the accounting cycle, inventories, internal controls, receivables, cash flow statements and financial analysis. (Prerequisites: None)

Managerial Accounting

ACCT 1811     4.00 Credits
Course Outline
This course focuses on current and long-term liabilities, partnerships, corporations, long-term investments, managerial accounting concepts, job costing, process costing, cost-volume-profit analysis, and capital budgeting. (Prerequisite: ACCT1810 with a grade of C or higher)

Payroll Accounting

ACCT 1814     3.00 Credits
Course Outline
This course covers various state and federal laws pertaining to the computation and payment of salaries and wages. Topics include preparation of employment records, payroll registers, time cards, employee earnings records, and state and federal reports. In addition, we will explore setting up and maintaining a payroll system using Quickbooks. (Prerequisite: None)

Computerized Accounting I

ACCT 1834     3.00 Credits
Course Outline
This course is an introduction to the use of computers and related software used in the accounting function of the business environment. Topics include, but are not limited to general ledger accounting, payroll procedures, accounts receivable, and accounts payable. The student is also introduced to spreadsheet and database software and their interrelationship with a fully integrated accounting software program. Software for this program includes QuickBooks, Excel, and Access. (Prerequisites: None)

Computerized Accounting II

ACCT 1835     3.00 Credits
Course Outline
This is the second of the two computerized accounting application series. Topics include, but are not limited to, general ledger accounting, payroll procedures, accounts receivable, accounts payable, and job cost accounting. The student is also introduced to advance functions of spreadsheet software and their interrelationship with a fully integrated accounting software program. Software for this program includes SAGE 50 and EXCEL Expert. (Prerequisite: ACCT 1834)

Professional Accounting Careers

ACCT 1870     1.00 Credits
Course Outline
This course covers specific topics relating to applying for accounting positions. Topics covered in this course are your appearance, networking tips, exploring different accounting careers, meeting your job's expectations, preparing resumes, and interviewing techniques. Each student is required to have one employment interview as part of this course. (Prerequisites: None)

Intermediate Accounting I

ACCT 2821     3.00 Credits
Course Outline
This is the first of the two course intermediate accounting series. The content of this course covers an overview of the accounting process, the balance sheet, the income statement and statement of cash flows, the time value of money and other various components of the balance sheet. (Prerequisite: ACCT 1810)

Intermediate Accounting II

ACCT 2822     3.00 Credits
Course Outline
This is the second of the two course intermediate accounting series. The content of the course covers operational assets, investments, current liabilities and contingencies, long-term debt, leases, accounting for income taxes, accounting changes and error corrections and other advanced accounting topics. (Prerequisites: ACCT 2821 or equivalent)

Principles of Finance

ACCT 2827     3.00 Credits
Course Outline
This course introduces the student to finance concepts for small to medium size businesses. Concepts covered in this course include financial markets, implication of interest rates to business, understanding of financial statements, risk versus return, use of debt financing, use of equity financing, capital budgeting concepts, cost of capital, determining the appropriate financing mix, forecasting techniques, working capital management, and liquid asset management. (Prerequisites: ACCT 1810)

Fraud, Auditing and Internal Controls

ACCT 2847     4.00 Credits
In this course students will learn about occupational fraud, basic auditing techniques and evaluation of internal controls. Covered topics include how and why fraud is committed, fraud detection, establishing and evaluating internal controls, and using internal auditing techniques to verify account balances. (Prerequisites: ACCT 1810)

Accounting Internship

ACCT 2850     1 - 8 Credits
Course Outline
This course provides students with actual experiences in accounting careers. A competency-based internship plan will be developed for each student. The student can receive internship credit for participating in the Volunteer Income Tax Assistance (VITA) program at SCC in conjunction with the Internal Revenue Service, Minnesota Department of Revenue, and Minnesota Valley Action Council. (Prerequisite: Instructor approval)

Cost Accounting I

ACCT 2861     4.00 Credits
Course Outline
This course covers managerial accounting cost concepts and behaviors. Examples of job order costing, process costing, and accounting for materials, direct labor, and factory overhead will be discussed. (Prerequisites: ACCT 1810, 1811 with a grade of C or higher)

Cost Accounting II

ACCT 2862     3.00 Credits
Course Outline
This course is an extension of ACCT 2861. This course covers budgeting, standard costing, direct costing, differential analysis, capital planning, transfer pricing, and decision making under uncertainty. (Prerequisites: ACCT 2861 or equivalent)

Fund/NonProfit Accounting

ACCT 2863     3.00 Credits
Course Outline
The purpose of this course is to assist students in gaining a knowledge of accounting and financial reporting currently recommended for state and local governmental entities, school districts, and other not-for-profit organizations. The course will assist the student in developing a knowledge of the accounting differences between governmental and not-for-profit entities and business enterprises. (Prerequisites: ACCT 1810)

Income Tax I

ACCT 2864     4.00 Credits
Course Outline
The purpose of this course is to expose students to an explanation of Federal and Minnesota individual income tax as it relates to the preparation of the required tax returns. Tax research is also examined in this course. Students will have hands-on experience in preparing Federal and Minnesota income tax returns. (Prerequisites: None)

Income Tax II

ACCT 2865     3.00 Credits
Course Outline
This course provides an explanation and interpretation of the Internal Revenue Code as applied to sole proprietorships, partnerships, and corporations. Topics include business income, expenses, business tax credits, withholding and payment of established estate and trust tax issues, taxes, installment sales, and inventories. (Prerequisites: ACCT 2864)

Advanced/International Accounting

ACCT 2875     3.00 Credits
This course will cover international accounting standards unique to seven (+) countries, a study on business cultural differences, and United States business consolidation procedures. (Prerequisites: ACCT 2821 or concurrent)

Accounting Review

ACCT 2900     3.00 Credits
Course Outline
This course reviews financial accounting, ethics and professional conduct, business law, taxation and managerial accounting concepts. This course will prepare the student for the ACAT Comprehensive Examination for Accreditations in Accountancy. (Prerequisites: ACCT 1800, 2821, 2861, 2864)