The Accounting Minor is open only to College of Business Administration majors. However, if you are a non-CBA major and would like to take accounting courses, please check out the Business Administration Minor.
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All students must complete a minimum of 20 semester hours in accounting courses, including:
- BCOR 2110: Financial Accounting (4 semester hours)
- BCOR 2120: Accounting Information for Decision Making (4 semester hours)
- ACCT 3110: Intermediate Accounting 1 (4 semester hours)
- Two additional upper-division accounting courses (8 semester hours)
All upper-division accounting courses must be taken in residence at LMU.
A minimum cumulative GPA of 2.5 is required for the Accounting Minor.
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BCOR 2110: Financial Accounting
4 semester hours
This course involves the study of financial accounting. Students are introduced to 1) the role of financial accounting and reporting in business and society, 2) the basic concepts and techniques of financial accounting, and 3) the preparation and use of financial statements. Topics covered include accrual basis of accounting, the financial accounting cycle, internal controls, ratio analysis, and the reporting and analyzing of financial statement elements.
Prerequisites: BCOR 1910 (or may be taken concurrently) and MATH 112 or MATH 120 or MATH 131, all with a minimum grade of C (2.0)
BCOR 2120: Accounting Information for Decision Making
4 semester hours
This course involves the study of managerial accounting. Accounting information is used by management to make decisions that guide the organization through planning, organizing, directing, and controlling activities. Decision-making requires a future orientation to the information, with relevant and flexible data. Topics covered include cost classification, costing and pricing, estimation models, cost-volume-profit analysis, segment reporting, performance evaluation, operational and capital budgeting, and non-routine business decisions. This course draws heavily from economics, finance, management, and marketing.
Prerequisites: BCOR 2110 and MATH 112 or MATH 131, all with a minimum grade of C (2.0)
ACCT 3110: Intermediate Accounting I
4 semester hours
This course begins the in-depth study of financial accounting and reporting. Topics covered include the environment of the standard setting process for financial reporting, the conceptual framework, basic financial accounting concepts, accounting cycle procedures, financial statement preparation and financial disclosures, basic ratio analysis, revenue recognition, present value applications, and accounting standards and procedures for cash, notes, accounts receivable, and inventories. Uses and limitations of the balance sheets, income statements, and statements of cash flows are studied. Researching accounting issues using the FASB’s Codification database is integrated throughout the course.
Prerequisite: BCOR 2120 with a minimum grade of C (2.0)
Plus two additional ACCT courses, chosen from the following:
ACCT 3120: Intermediate Accounting II
4 semester hours
This course continues the in-depth study of financial accounting and reporting introduced in ACCT 3110. The conceptual and procedural aspects of some of the complex and controversial topics in financial accounting are studied from both U.S. and international accounting perspectives. Topics include the accounting for property, plant, and equipment, intangible assets, investments, long-term debt, leases, deferred income taxes, contingent liabilities, and several issues relating to stockholders’ equity. Coverage of these topics includes an historical perspective, current practice, awareness of limitations in current practice, and possible future directions. Researching accounting issues using the FASB’s Codification database is integrated throughout the course.
Prerequisite: ACCT 3110 with a minimum grade of C (2.0)
ACCT 3130: Strategic and Managerial Analysis
4 semester hours
This course integrates data analytics with strategic business issues and managerial accounting. It covers topics such as cost analysis and estimation, cost management systems, and management control systems that primarily serve the decision-making needs of internal users and are generally applicable to all types of businesses. In introducing these topics, this course emphasizes the data analytics tools and skills that are frequently used by accountants, managers and/or consultants to make data-driven strategic decisions.
Prerequisite: BCOR 2120 with a minimum grade of C (2.0) and either BCOR 2710 or BCOR 2720 with a minimum grade of C (2.0)
ACCT 3140: Accounting Information Systems
4 semester hours
This course extends the study of accounting information systems, including design, operation, and control of enterprise accounting systems. It focuses on business cycles, transaction processing, database design, documentation, business processes, risk assessment, and internal controls. Various computer applications are used to provide hands-on experience in accounting information collection, processing, and reporting, thereby reinforcing financial and managerial accounting concepts. The course also examines emerging technologies in accounting, as well as data and analytics concepts and tools.
Prerequisite: BCOR 2120 with a minimum grade of C (2.0) and either BCOR 2710 or BCOR 2720 with a minimum grade of C (2.0)
ACCT 4120: Federal Income Taxation
4 semester hours
The course focuses on Federal income tax planning and compliance for individuals and business entities, such as partnerships and corporations. It involves the study of the accounting, economic, legal, and political aspects that underpin taxation systems to better understand the role of taxation in personal and business decisions.
Prerequisite: ACCT 3110 with a minimum grade of C (2.0)
Declaring the Minor
Students interested in the Accounting Minor can declare the minor by submitting a Change of Academic Program form on the Registrar’s page.
Contact
Rosemary Kim, Ph.D.
Chair, Department of Accounting
rosemary.kim@lmu.edu