MINNEAPOLIS BUSINESS COLLEGE COMPENDIUM OF CATALOG COURSE DESCRIPTIONS ACADEMIC YEARS 1990-91 TO 2018-19 Definition of Academic Credit: A clock hour is equal to a minimum of 50 minutes of instruction. Credit for academic and financial aid purposes is measured in semester credit hours. A semester credit hour is equivalent to a minimum of 15 clock hours of lecture, 30 clock hours of laboratory where classroom theory is applied and explored or manipulative skills are enhanced, 45 clock hours of externship/practicum, or a combination of these three. AC100 ACCOUNTING PRINCIPLES I (80 Contact Hours––4 Credits) This course provides students with an introduction to the fundamental principles and concepts of accounting including the theory of debit and credit, the accounting cycle, and the end-of-year procedures.
Included is the study of the proper presentation of classified financial statements for a proprietorship operating as a service or as a merchandising form of business. AC101 ACCOUNTING PRINCIPLES I (1990-1991) (120 Contact Hours––6 Credits) This course provides students with an introduction to the fundamental principles and concepts of accounting including the theory of debit and credit, the accounting cycle, and the end-of-year procedures. Included is the study of the proper presentation of classified financial statements for a proprietorship operating as a service or as a merchandising form of business. Discussed also are such specific topics as accounts receivable, accounts payable, special journals, payroll procedures, and the voucher system.
AC101 ACCOUNTING PRINCIPLES II (80 Contact Hours––4 Credits) This course is a continuation of Accounting Principles I with special emphasis on internal control, accounting for cash, short-term investments, and receivables. Inventories, plant asset accounting, and intangible assets are included. AC102 ACCOUNTING PRINCIPLES II (1990-91) (120 Contact Hours––6 Credits) This course is a continuation of Accounting Principles I with special emphasis on accounts receivable, promissory notes, inventory valuations, tangible and intangible assets, and partnership and corporate accounting. Partnership accounting deals with formation and admission of partners, division of income and losses, and the dissolution and liquidation of a partnership.
Corporate topics include capital stock transactions, dividends, treasury stock, earnings per share, long-term liabilities, and short-term investments. Also covered is the statement of changes in financial position on a cash basis. AC102 ACCOUNTING PRINCIPLES III (80 Contact Hours––4 Credits) This course is a continuation of Accounting Principles II and includes the study of partnership and corporate accounting. Partnership accounting deals with division of income and losses.
Corporate topics include capital stock transactions, dividends, treasury stock, earnings per share, current and long-term liabilities, and long-term investments. Also covered is the statement of cash flow. AC103 BUSINESS MATHEMATICS I AC103 MATH FUNDAMENTALS I (1992-2002) (38 Contact Hours––2 Credits) This course covers basic mathematical principles as they relate to business and accounting. Students review basic operations including decimals, fractions, equations, and percentages.
This course also includes instruction in the calculation of base, rate, and percentage; markup and markdown; and trade and cash discounts. Basic statistical concepts are also introduced. AC103 MATHEMATICS FOR ACCOUNTING I (40 Contact Hours––2 Credits) This course covers basic mathematical principles as they relate to business and accounting. Students review basic arithmetic operations including addition, subtraction, multiplication, and division of whole numbers, decimals, and fractions.
This course also includes instruction in the calculation of percentages, simple and compound interest, depreciation, and trade and cash discounts. AC104 BUSINESS MATHEMATICS II AC104 MATH FUNDAMENTALS II (1992-2002) (38 Contact Hours––2 Credits) This course is a continuation of Business Mathematics I [Math Fundamentals I]. The course is divided into two 4-week modules. During one module, the students receive instruction in the mathematics of simple and compound interest, annuities, and consumer credit.
During the second module, the students develop speed and accuracy in the use of a 10-key pad. AC104 MATHEMATICS FOR ACCOUNTING II (40 Contact Hours––2 Credits) This course is a continuation of Mathematics for Accounting I. The course is divided into two 4-week modules. During one module the students receive instruction in the mathematics of annuities, stocks and bonds, and merchandising.
During the other module, the students develop speed and accuracy in the use of the electronic calculator. AC105 PAYROLL ACCOUNTING (38 Contact Hours––2 Credits) This course is a presentation of the theoretical and practical applications of payroll procedures. It emphasizes the methods of computing wages and salaries, keeping records, and the preparation of various federal and state government reports. Students are required to complete a comprehensive payroll project to show proof of mastery of subject content.
AC106 ACCOUNTING PRINCIPLES I (76 Contact Hours––3 Credits) This course provides students with an introduction to the fundamental principles and concepts of accounting including the theory of debit and credit, the accounting cycle, and the end-of-year procedures. Included is the study of the proper presentation of classified financial statements for a proprietorship operating as a service or as a merchandising form of business. AC106 COMPUTERIZED GENERAL LEDGER (40 Contact Hours––2 Credits) This course is a hands-on approach to learning how automated accounting systems function. The students operate a computerized general ledger system, accounts receivable system, accounts payable system, and payroll system.
Students perform financial statement analysis and depreciation comparisons using the computer. AC107 ACCOUNTING PRINCIPLES II (76 Contact Hours––3 Credits) This course is a continuation of Accounting Principles I with special emphasis on internal control, accounting for cash, short-term investments, and receivables. Inventories, plant asset accounting, and intangible assets are included. AC107 INTRODUCTION TO COST ACCOUNTING (20 Contact Hours––1 Credit) This is an introductory course in cost accounting.
It focuses on the job order cost system and cost analysis for management decision making. Emphasis is placed on the accounting for manufacturing costs and preparation of financial statements. AC108 FUNDAMENTALS OF ACCOUNTING (40 Contact Hours––2 Credits) This course is designed to introduce students to the basic concepts of financial accounting for a service industry. Through lectures and daily assignments, students gain proficiency in preparing balance sheets, keeping records, and assessing monthly cash flow.
Competencies are demonstrated through tests and assignments. AC109 MATH AND ACCOUNTING CONCEPTS (40 Contact Hours––2 Credits) This course is designed to reinforce basic mathematical processes. Students also develop an understanding of basic accounting concepts and their relevance in business. AC110 ESSENTIALS OF ACCOUNTING (38 Contact Hours––2 Credits) This course presents an introduction to the fundamental principles of accounting including the theory of debit and credit, the accounting cycle, and the end-of-year procedures.
Also discussed are such specific topics as payroll procedures and bank statement reconciliations. A review of fundamental math principles is included as well. AC111 ACCOUNTING PRINCIPLES I (100 Contact Hours––6 Credits) This course provides students with an introduction to the fundamental principles and concepts of accounting including the theory of debit and credit, the accounting cycle, and the end-of-year procedures. The course includes a study of the proper presentation of classified financial statements for a proprietorship operating as a service or merchandising form of business.
The course also includes discussion of accounts receivable, accounts payable, special journals, payroll procedures, and the voucher system. AC111 COMPUTERIZED ACCOUNTING (40 Contact Hours––2 Credits) This course is a hands-on approach to learning how automated accounting systems function. Students operate a computerized general ledger system including accounts receivable, accounts payable, inventory, and payroll. AC112 ACCOUNTING PRINCIPLES II (100 Contact Hours––6 Credits) This course is a continuation of Accounting Principles I with special emphasis on accounts receivable, promissory notes, inventory valuations, tangible and intangible assets, and partnership and corporate accounting.
Partnership accounting deals with formation and admission of partners, division of income and losses, and the dissolution and liquidation of a partnership. Corporate topics include capital stock transactions, dividends, treasury stock, earnings per share, long-term liabilities, and short-term investments. The statement of changes in financial position on a cash basis is also covered. AC112 FINANCIAL ANALYSIS AND REPORTING (40 Contact Hours––2 Credits) This course expands on the material covered in Accounting Principles I, II, and III with an emphasis on the application of analytical techniques.
These techniques include vertical, horizontal, and ratio analysis and industry comparisons. This information is then compiled in a student portfolio. AC113 PERSONAL FINANCE (38 Contact Hours––2 Credits) This course provides a survey of the major economic decisions facing the typical American household and examines the influence of social and economic change on individual financial planning. Students acquire the knowledge and develop the necessary analytical skills to make informed choices related to topics such as managing finances and budgeting, banking and saving, earning and reporting income, buying goods and services, using credit, and protecting against risk.
This course puts emphasis on goal setting, lifelong learning, and active decision making. AC116 ACCOUNTING PRINCIPLES III (76 Contact Hours––3 Credits) This course is a continuation of Accounting Principles II and includes the study of partnership and corporate accounting. Partnership accounting deals with division of income and losses. Corporate topics include capital stock transactions, dividends, treasury stock, earnings per share, current and long-term liabilities, and long-term investments.
Also covered is the statement of cash flow. AC117 COMPUTERIZED ACCOUNTING (38 Contact Hours––1 Credit) This course is a hands-on approach to learning how automated accounting systems function. Students operate a computerized general ledger system including accounts receivable, accounts payable, inventory, and payroll. AC118 FINANCIAL ANALYSIS AND REPORTING (38 Contact Hours––1 Credit) This course expands on the material covered in Accounting Principles I, II, and III with an emphasis on the application of analytical techniques.
These techniques include vertical, horizontal, and ratio analysis and industry comparisons. This information is then compiled in a student portfolio. AC201 INTERMEDIATE ACCOUNTING (76 Contact Hours––4 Credits) This course gives in-depth and special attention to a variety of topics that were introduced in Accounting Principles I, II, and III. Topics discussed include a review of the accounting cycle, preparation of financial statements, analysis of cash, receivables, and inventories.
AC201 INTERMEDIATE ACCOUNTING (1990-91) (140 Contact Hours––8 Credits) This course gives in-depth and special attention to a variety of topics that were introduced in Accounting Principles I and II. Topics discussed include a review of the accounting cycle, specific issues relating to financial statements, specific issues concerning current assets and current liabilities, the accounting of fixed assets and intangible assets, the accounting of long-term investments, and a more thorough study of corporate accounting including contributed capital and retained earnings. Emphasis is placed on the theoretical aspects of these topics while reinforcing the fundamentals. AC201 INTERMEDIATE ACCOUNTING I (1991-2002) (80 Contact Hours––4 Credits) This course gives in-depth and special attention to a variety of topics that were introduced in Accounting Principles I, II, and III.
Topics to be discussed include a review of the accounting cycle, specific issues relating to financial statements, concepts of future and present values, and revenue and expense recognition. Emphasis is placed on the theoretical aspects while reinforcing the fundamentals. AC202 COMPUTERIZED ACCOUNTING SIMULATION (20 Contact Hours––1 Credit) Using the computer as a tool, this course reinforces Intermediate Accounting. The students review accounting procedures for stock issuance, stock subscriptions, bond issuance, redemption of stocks and bonds, and other generally accepted accounting principles.
Students enter transactions, post entries, and print appropriate interim and end-of-period statements. AC202 INTERMEDIATE ACCOUNTING II (80 Contact Hours––4 Credits) This course is a continuation of Intermediate Accounting I. Topics to be discussed include cash and receivables, inventory measurement and cost of goods sold, alternative inventory valuation methods, and operational assets. AC203 COST ACCOUNTING (38 Contact Hours––2 Credits) This course is concerned with job order and process cost accounting systems with emphasis on the cost cycle, raw materials, labor, factory overhead, and financial statements for the business that operates as a manufacturing concern.
AC203 COST ACCOUNTING I (1991-1992) (40 Contact Hours––2 Credits) This is an introductory course in cost accounting. It focuses on the job order cost system and cost analysis for management decision making. Emphasis is placed on the accounting for manufacturing costs and preparation of financial statements. AC204 ADVANCED INTERMEDIATE ACCOUNTING (40 Contact Hours––2 Credits) This course is a continuation of Intermediate Accounting I and II.
Topics discussed include intangible assets and natural resources, temporary and long-term investments, short-term liabilities, and long-term debts.
