In a rapidly changing and complex financial environment, college graduates in all disciplines will need financial management knowledge and skills to fulfill their professional careers and their own personal lives. The goal is to promote financial literacy. As a result, they must understand financial terminology, how to make budgets and how to channel resources and invest. Students should be able to make informed financial decisions.

 Careers for this Minor:
  • Asset Management
  • Investment Banking
  • Commercial Banking and Management of Financial Institutions
  • Financial Engineering
  • Corporate Financial Management
  • Consulting
  • Private Equity / Venture Capital

Finance Minor 2021-2022 Catalog

A Management major with a Financial Economics concentration is ineligible to declare the minor. Approval is required from the School Director. Each course requires a grade of C or higher.

FN 311Corporate Finance3
FN 407Corporate Finance II3
FN 412Investments3
EC 310Money and Banking3
Any two of the following:6
Intermediate Accounting I3
Intermediate Accounting II3
Taxation I3
Advanced Accounting4
Public Finance3
International Economics3
International Dimensions of Business3
Total Cr.18

Accounting Courses

AC 188 No Norwich Equivalent 6 Cr.

AC 199 Pilot Course 3 Cr.

This course number is used for trying new Accounting courses the first time they are offered prior to approval by the University's Curriculum Committee.

AC 201 Introduction to Accounting and Financial World 3 Cr.

A survey course of the basics of accounting and financial reporting and its use in communicating and evaluating a business entity's financial condition and performance. Commencing with the basic accounting equation, students learn how the financial transactions entered into by a business entity are captured, organized and summarized to reflect their impact on the financial position of the entity. Students also learn the contents and structure of the basic financial statements used to communicate the financial position, results of operation, and cash flows of the entity to both internal and external stakeholders. In addition, students will learn about available optional choices in the accounting treatment of certain items and the ramifications of those choices on financial reporting. Finally, student are exposed to basic financial statement analysis tools used to determine relative financial strengths and weaknesses of the entity. 3 Lecture hours. Not open to Management and Accounting majors. Offered: Fall, Spring.

AC 205 Principles of Accounting-Financial 4 Cr.

Introduction to accounting principles and theory for the sole proprietorship. The recording of business transactions through the accounting cycle, from journal entry, posting, adjusting, and closing entries through work papers and preparation of financial statements, is studied. Related topics include: internal control, receivables and payables, the control of cash transactions, inventories, depreciation, intangible assets, and payroll accounting. Ethical business practices and client privacy issues are stressed throughout all phases of the course.

AC 206 Principles of Accounting-Managerial 4 Cr.

The completion of the study of financial accounting and an introduction to and emphasis on managerial accounting. Topics covered include: partnerships, corporations, earnings per share, dividends, bonds payable, the Statement of Cash Flows, the analysis and interpretation of financial statements, the budgeting process and cost accounting concepts. Protection of proprietary information and information security is re-enforced throughout the course. Prerequisite: AC 205.

AC 288 No Norwich Equivalent 6 Cr.

AC 335 Intermediate Accounting I 3 Cr.

Building on the foundations of Principles of Accounting the course provides a more in-depth study of accounting theory and practice. Beginning with a brief review of the accounting process, the course delves into the conceptual framework for accounting, the accounting standards setting process, and the hierarchy of accounting pronouncements. The course then explores the components of the financial statement package including such issues as the quality of earnings and the measurement and reporting of unusual, infrequent, and non-operating items; the Statement of Cash flows is also studied in depth. Accounting, reporting, and valuation issues surrounding cash, receivables, inventory and long-term assets are also covered including the impairment of tangible and intangible assets. Prerequisite: AC 205 and AC 206, grade of C or higher.

AC 336 Intermediate Accounting II 3 Cr.

A continuation of the in-depth study of accounting theory and practice begun in Intermediate Accounting I. The course addresses the valuation, accounting, and reporting of both short and long-term investment securities, current and contingent liabilities, notes and bonds payable, and shareholders' equity. In addition, the accounting for leases, income taxes, pensions, stock-based compensation, earning per share, and accounting changes are also studied. Prerequisite: AC 335 or AC 205 and AC 206, grade of C or higher.

AC 388 No Norwich Equivalent 6 Cr.

AC 419 Taxation I 3 Cr.

Designed to introduce the student to certain elementary tax concepts: tax rate structure, exemptions, deductible versus non-deductible expenses, depreciation basis, capital gains and losses, tax credits, withholding, and computation of the personal income tax. Within the context of the personal income tax, planning considerations will be stressed as well as legal and ethical issues concerning client confidentiality. Prerequisites: AC 205 and AC 206, grade of C or higher.

AC 428 Auditing 3 Cr.

A study of the auditing environment, including legal liability and professional ethics begins with the concept of auditing and the auditing profession. Additional topics concerning the audit process, including internal control, evidence, sampling and EDP auditing and specific audit procedures are examined. In addition the nature and types of auditors' reports are studied. 3 Lecture hours. Prerequisite: AC 336.

AC 441 Cost Accounting 3 Cr.

A study of the basic elements of cost accounting concepts and procedures. Emphasis is on how cost data can be used as management tools. Cost behavior and control, cost-volume-profit relationships, job and process costing, activity-based accounting, budgeting and responsibility accounting, flexible budgeting and standards, income effects of alternative costing methods and cost behavior, costs and the decision process, and philosophy and organization of the master budget are analyzed. Prerequisite: AC 206.

AC 442 Advanced Accounting 4 Cr.

An advanced course emphasizing accounting theory and practical applications in selected areas. Such areas include: partnerships, branches, business combinations, consolidated financial statements, segment reporting, forecasts, multinational companies, bankruptcy, and accounting for governmental units and other non-profit entities. Prerequisite: AC 336.

AC 450 Internship in Accounting 3 Cr.

The internship program is designed for students who want to apply their studies by working in a public accounting firm or in private accounting within a business, industry, or public agency. The student will be required to work closely with a faculty supervisor to develop and implement a structured experience tailored to the career goals of the student. Prerequisites: Junior or higher standing. Permission of Department Chair and Internship Committee.

AC 488 No Norwich Equivalent 6 Cr.

Economics Courses

EC 106 The Structure and Operation of the World Economy 3 Cr.

This course will introduce students to the operation of the world economy. Emphasis will be on the identification and description of economic concepts such as tariffs, multinational companies, stock markets, debt, international trade balances and international banking. These concepts will be developed utilizing examples from current world economic conditions. Prerequisite: Freshman standing.

EC 188 No Norwich Equivalent 6 Cr.

EC 201 Principles of Economics (Macro) 3 Cr.

Description and analysis of the American economic system in terms of basic economic concepts and the determination of national income and its fluctuation. Credit may not be earned in EC 201 and ECON 201. Prerequisite: One semester of college mathematics at the 100-level or higher.

EC 202 Principles of Economics (Micro) 3 Cr.

Study of the behavior of individuals in making decisions on the allocation of limited resources. This course examines how these decisions and behaviors affect the markets for goods and services. Credit may not be earned in EC 202 and ECON 202. Prerequisite: One semester of college mathematics at the 100-level or higher.

EC 288 No Norwich Equivalent 6 Cr.

EC 299 Pilot 3 Cr.

EC 310 Money and Banking 3 Cr.

The principles and institutions of money, banking and finance as they influence the performance of the economy. The major topics covered are the nature of money, commercial banking and financial institutions, central banking, monetary theory, monetary policy, inflation and the international monetary system. Prerequisites: EC 201, EC 20; QM 213 or MA 232.

EC 388 No Norwich Equivalent 6 Cr.

EC 403 Comparative Economic Systems 3 Cr.

The study of major economic systems. Theories of capitalism, socialism and communism and their implementation by major nations are discussed. Cross-listed with ECON 401, not permitted to earn credit for both EC 403 and ECON 401. Prerequisites: EC 201, EC 202. Offered: Spring, odd years.

EC 406 Public Finance 3 Cr.

An investigation of the effects of government expenditures and revenues on the efficiency of resource allocation and the equity of the income distribution. Topics covered include public goods, externalities, benefit-cost analysis, the structure of major taxes and expenditure and tax incidence. Cross-listed with ECON 401, not permitted to earn credit for both EC 406 and ECON 401. Prerequisites: EC 201, EC 202; Management Major only. Offered: Occasionally.

EC 419 International Economics 3 Cr.

International trade and the theory of comparative advantage. Special attention is given to free world trade and economic development in other countries and groupings as in the European Common Market. Prerequisites: EC 201, EC 202. Offered: Fall, odd years.

EC 488 No Norwich Equivalent 6 Cr.

Finance Courses

FN 188 No Norwich Equivalent 6 Cr.

FN 288 No Norwich Equivalent 6 Cr.

FN 311 Corporate Finance 3 Cr.

Development of the basic theoretical framework for decision-making in financial management, emphasizing the time-value of money and the analysis of cash flows. Areas of concentration are financial institutions and markets, financial statement analysis, the role of time value in finance, bond and stock valuation, capital budgeting decision process, risk and return analysis, cost of capital and dividend policy. Credit in FN 311 cannot also earn credit in FNCE 350. Prerequisites: AC 201 or 206; EC 202; QM 213 or MA 322.

FN 388 No Norwich Equivalent 6 Cr.

FN 407 Corporate Finance II 3 Cr.

Special topics in financial management including: international managerial finance, mergers and acquisitions, hybrid and derivative securities, working capital management, short-term and long-term financing, financial planning, leverage analysis and capital structure theory. Open to Management majors only. Prerequisites: QM 213 or MA 232; FN 311.

FN 412 Investments 3 Cr.

Methods of security analysis and portfolio management, including the current theoretical literature and thought. Discussion and analysis of current events and their implications for stock price behavior. Open to majors of Accounting, Civil Engineering, CSIA, Computer Science, Electrical and Computer Engineering, Mechanical Engineering, Management. Prerequisites: FN 311; QM 213 or MA 232.

FN 488 No Norwich Equivalent 6 Cr.