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Undergrad Catalog StKate.edu

Accounting (ACCT)

Program Options: B.A., B.S.

The accounting major prepares you for many career options, including public accounting, management accounting, government accounting, tax accounting and internal auditing. Accounting is also a basic preparation for fraud examiners, consultants and managers in non-accounting areas. You will study foundations in economics, statistics, and social sciences, as well as introductory financial and managerial accounting and management. You will also study intermediate level accounting concepts which will include Generally Accepted Accounting Principles (GAAP) with an introduction to International Financial Reporting Standards (IFRS), income tax, financial management, business law, cost accounting and auditing.

Accounting is one of the best jobs in terms of career options, high compensation and career placement after graduation. If you can think critically, communicate effectively, as well as develop the ability to analyze, compare and interpret financial information, a career in accounting may be a good fit for you.

Public accounting emphasizes auditing, consulting and tax functions, while management accounting emphasizes cost accounting, budgeting, financial statement preparation and analysis and internal audit management. Government accountants can work at any level of government to analyze and oversee the performance and allocation of funds. Internal auditing emphasizes compliance with organizational policies, accounting controls, accounting systems and operating effectiveness and efficiency. Accountants are also in demand for nonprofit organizations that need specialized expertise in tax regulations and policies unique to them as well as financial statement preparation.

Opportunity for advancement is one of the most appealing aspects of professional accounting. Public accountants frequently advance to positions with more responsibility within one or two years. Those who excel may become supervisors, managers or partners; may open their own public accounting, tax or consulting firms; may transfer to executive positions in management accounting; or may become internal auditors in private firms. Management accountants may advance to positions such as accounting manager, chief cost accountant, budget director or manager of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers or corporation presidents. Many senior corporate executives have a background in accounting, internal auditing or finance.

At St. Kate's, you will have the opportunity to learn, work and study with accounting faculty who have real-world experience that enriches their theoretical expertise. St. Kate's accounting major offers hands-on experience, internships coordinated through alumnae and small classes of 14-20 students. Accounting graduates have secured jobs in their field upon graduation, at leading firms such as PwC, KPMG, Deloitte, 3M, Ecolab and Wipfli.

Each state is responsible for establishing Certified Public Accountant (CPA) licensure rules and eligiblity requirements for taking the CPA exam. You can meet the provisions of the Minnesota State Board of Accountancy to sit for the Uniform Examination for the CPA after graduation with a major in accounting. Upon passing the CPA exam you apply for certification. To become certified you must have earned 150 credit hours in undergraduate or graduate course work. In the state of Minnesota you have three years upon CPA exam completion to earn the additional 20 credits. To meet this requirement, you can complete an additional 20 credits in undergraduate or graduate courses at St. Kate's.

Common Aspects of All Business Majors
As an accounting major at St. Kate's, you will benefit from a comprehensive business education that draws on exceptional faculty from academia and business, attracts outstan ding students from around the country and world, weaves a focus on ethics into every course, provides introductions to leading corporations, potential employers and women role models and mentors, uses cutting-edge technology to enrich your studies and prepare you for the workforce and prepares you to succeed in the private, government or nonprofit sectors.

You will benefit from a great number of outstanding women role models and an excellent curriculum to help you reach your career goals. Full-time professors and practicing professionals provide just the right balance of the theoretical and the applied. You will not only become familiar with business theory and practice, but you will also learn how to become a successful businesswoman.

Faculty will work with you during your four years at St. Kate's to develop your business portfolio. This will feature your accomplishments and is a requirement of graduation for students in the Business Administration Department. Technology is fully integrated into the curriculum, and faculty will work with you as you learn to perform online research and prepare computer-based presentations. You will learn to integrate technology into your solutions for business problems.

St. Kate's students frequently receive statewide recognition and scholarships through such organizations as Delta Mu Delta, an international business honor society, and Financial Executives International. St. Kate's also has an active chapter of Pi Sigma Epsilon, the national business fraternity, which offers practical business experience and connections with business executives, along with opportunities to network with students from other colleges and universities. 

St. Kate's Career Development Department has a mentoring program which matches you up with successful alumnae in your field of interest who will provide links with other professionals and career advice. Many students also participate in internships during their junior and senior years. Internships will allow you to refine your skills, broaden your perspectives and make valuable professional connections. Also, executives regularly appear as guest speakers and are mentors to students. Many are St. Kate's alumnae.

More than 60 companies and organizations visit campus to meet students, share information about their companies and recruit potential interns and employees at the annual St. Kate's Career Opportunities Fair. St. Kate's hosts the largest annual on-campus job fair of any Minnesota private college or university. Workshops prepare you in résumé writing, researching companies and interviewing. Many St. Kate's students also attend the Minnesota Private College Job Fair, the Accounting and Auditing Student Conference and the Government Job Fair. These events are excellent opportunities to connect with potential employers.

See also: Business to Business Sales, Healthcare Management, Healthcare Sales, Business Administration: Marketing and Management, Small Business/Entrepreneurship, Financial Economics, International Business and Economics.

Major Requirements:

ACCT 2110 Financial Accounting
ACCT 2130 Managerial Accounting
ACCT 3110 Intermediate Accounting I
ACCT 3120 Intermediate Accounting II
ACCT 3150 Income Tax
ACCT 3210 Financial Management
ACCT 4120 Cost Accounting
ACCT 4130 Auditing
BUSI 3650 Business Law
BUSI 4800 Business Portfolio (0 cr)
Required in the program of study is one 4-credit upper division accounting course

Required supporting courses:
MGMT 2400 Principles of Management
ECON 2250 Statistical Analysis for Decision Making or ECON 2200 Statistical Analysis for the Social Sciences or MATH 1080 Statistical Analysis or PSYC 2050 Statistical Methods in Psychology
ECON 2610 Principles of Microeconomics
ECON 2620 Principles of Macroeconomics
ECON 2100 Quantitative Methods in Business and Economics or MATH 1070 Finite Math Analysis or another quantitative course approved by the department chair.
One additional course from economics, computer science, communications or mathematics.

Supporting work must be completed with a grade of C- or better.

NOTE: Accounting majors can complete a financial economics minor with just two additional courses. ECON 3350 Financial Markets and Institutions and ECON 3650 Investment Theories or ECON 3460 Global Financial Issues are recommended.

Electives relevant to the accounting major:
ACCT 4100 Advanced Accounting
ACCT 4754 Accounting Practicum
ACCT 4994 Topics
ECON 3350 Financial Markets and Institutions 
ECON 3460 Global Financial Issues
ECON 3650 Investment Theories
MGMT 3460 Managing a Diverse Workforce (also fulfills the core CRST requirement)
MKTG 2350 Integrated Marketing Communications

BUSINESS PORTFOLIO
All majors are required to complete a business portfolio. The portfolio is the vehicle that enables you to integrate the life skills and knowledge you bring with you and the knowledge, skills and values learned within the courses and field experiences throughout the program. This portfolio allows you to validate your experiences at St. Catherine University.

The portfolio is cumulative in nature; most aspects are completed as part of course work. You must present your portfolio to your advisor no later than September 30 if you will be a December graduate or February 15 if you will be a May graduate.

For specific portfolio (BUSI 4800) requirements, please refer to the Professional Portfolio Handbook.

Accounting majors satisfy the Writing Requirement for Majors by completing ACCT 4130. You complete the Liberal Arts and Sciences Core Writing Requirement with three other writing-intensive courses (CORE 1000 or 2000, CORE 3990, and any other writing-intensive course in the Business Administration Department or another department).

Second Major Certificate in Accounting  

Students who have received a baccalaureate degree from St. Catherine University or another regionally accredited institution may pursue a second major at St. Catherine. To be awarded the second major (post-baccalaureate) certificate, you must complete all of the requirements for the major, including required supporting courses.  A minimum of one-half of the courses in the major must be completed in residence.  The residency requirement of 48 out of the last 64 credits does not apply to second major certificate students.

Federal Gainful Employment Disclosure Requirement for Certificates

Federal regulations require that all institutions disclose certain information and statistics regarding non-degree, certificate programs.  Click here for the data provided by St. Kate's.