Final Report
Accounting Transfer Issues
Submitted, May 30, 2003
Barbara Prince, Facilitator

Transfer Issue/problems determined at meeting on April 19, 2002.

Problem I and II Answered
The four-year universities agreed on the following definition of Principles I and II. Ron Douglas of Southwest State University does feel that debit and credit can be part of the first year of accounting, but stated that the courses must be taught at a collegiate level.

Financial Accounting or Accounting Procedures I—for Transfer
Covers financial accounting concepts from a “user” perspective and focuses on the application of these concepts in real-world environments. The central theme will concentrate on how economic information is identified, measured and communicated. This course does not emphasize debits and credits. 

Managerial Accounting or Accounting Procedures II—for Transfer
This course focuses on strategic decision-making related to cost analysis and cost management. Topics include cost-volume-profit analysis activity-based costing and activity-based management, how cost behave, relevant information, pricing cost management, quality, time, theory of constraints, and performance measurement.

Accounting Procedures I and II—non-transfer courses are defined as bookkeeping classes with emphasis on debit and credit.

Some of the  four-year colleges will allow the student to enroll in the intermediate courses and if successful, they will accept transfer of the first year principles/procedures courses.

The four-year universities will work with and consider for transfer on an individual basis the first year of accounting principles from all two-year institutions. The two-year institutions have been given the following information from the four-year universities.

This is the criteria that was discussed at the transfer meetings.

Each four-year campus department chair will make the final decision after reviewing

• Statement of purpose
• How much is covered
• How the material is presented
• How does the instructor demonstrate that students meet objectives
• Syllabus, including course objectives
• Textbook, edition and chapters covered
• Credentials of the instructor

Most of these items are covered by the the couse syllabus or outline.

Four-Year MnSCU  University Contacts for Transfer in Accounting

Mandy Wick
Professor/Chair, Accounting
Bemidji State University
1500 Birchmont Dr. N.E.
Bemidji, MN 56601
E-mail:  mwick@bemidjistate.edu

Mary Rolfes
Associate Professor, Accounting
Minnesota  State University, Mankato
228 Wiecking Center
Mankato, MN 56001
E-mail:  mrolfes@mnsu.edu

Grover Cleveland
Professor, Accounting
Metropolitan State University
730 Hennepin Avenue
Minneapolis, MN  55403-1897
E-mail:grover.cleveland@metrostate.edu

Lee Dexter
Professor, Accounting
Minnesota State University Moorhead
1104 7^th Avenue S.
Moorhead, MN 56563
E-mail:  dexter@mnststate.edu

Kate Mooney, PhD, CPA
Professor/Chair, Accounting
G.R. Herberger College of Business
St. Cloud State University
St.Cloud, MN 56301
E-mail:  kkmooney@stcloudstate.edu

Ron Douglas
Assistant Professor, Accounting
Southwest State University
1501 State Street
Marshall, MN 56258
E-mail:  douglasr@southwest.msus.edu

Richard Schneider
Accounting, Chair
Winona State University
P.O. Box 5838
8^th and Johnson
Winona, MN 55987
E-mail:  rschneider@winona.edu

 

Statements from four-year university transfer specialist

Dr. Madalyn Wick
Professor/Chair, Accounting
Bemidji State University

At Bemidji State, I look for "equivalency" in a Principles of Accounting course in order to be transferred into our major.  We currently have several transfer equivalency agreements in place where we have pre-evaluated whether a Principles of Accounting course from a particular college is "equivalent" to ours. In doing the evaluation I consider the following, normally by looking at the course syllabus: 

• Textbook—I look at the textbook used and chapters covered as compared to our two Principles of Accounting courses—we follow the traditional, Principles of Accounting I & II split used in most college Principles texts.  We also, alternatively, will accept a Financial Accounting course for Principles of Accounting I and an introductory Managerial Accounting course for Principles of Accounting II.  For any transferred course, most of the topics covered must be equivalent to what we cover. 
• How does the instructor demonstrate that students meet objectives—I look at the testing or other methods of student assessment being used.  There needs to be a substantial portion of the material tested through individual examination.
• Course objectives—I look at the syllabus to determine if the course objectives are similar to ours.  Ours emphasizes a combination of accounting applications and analysis of the financial statements for business use.
• Credentials of the instructor—I expect the instructor to have at least a Masters degree in an appropriate business or accounting field.

Mary Rolfes
Associate Professor, Accounting
Minnesota State University, Mankato

Minnesota State University, Mankato, teaches Principles I and II as a financial accounting course from a users’ point and the second semester is the managerial accounting course.

Grover Cleveland
Professor, Accounting
Metropolitan State University

Metropolitan State has worked out transfer agreements in business with Anoka-Ramsey Community College, Century Community College, Inver Hills Community College, Minneapolis Community and Technical College, Normandale Community College, and North Hennepin Community College. Metro has reviewed the objectives of the  accounting  courses and presently accepts the Principles I course from all these with the exception of Century College. Metro accepts in transfer the Principles II (managerial) courses from Anoka-Ramsey and North Hennepin only. Anoka-Ramsey and North Hennepin have written their managerial course objectives in cooperation with Metro.

Metro has also stated that they will allow test-out on these courses.

Lee Dexter
Professor, Accounting
Minnesota State University Moorhead

Principles of Accounting at Minnesota State University Moorhead includes both financial accounting and managerial accounting. Our Principles of Accounting courses (ACCT 230 and 231, 3 credits each) use a combined approach here both financial and managerial topics are included in each course. Transfer students are therefore encouraged to either complete both financial and managerial accounting at their previous institution, or take Principles of Accounting at MSU Moorhead.

Students transferring from Junior Colleges or other Universities whose coursework in Principles of Accounting includes only financial accounting must take a one-credit bridge course in managerial accounting and ACCT 213 (Principles II).

 

Students transferring from Technical Colleges

MSU Moorhead will waive the Principles of Accounting requirement (ACCT 230 and ACCT 231):

Kate Mooney, PhD, CPA
Professor and Chair, Dept. of Accounting
G. R. Herberger College of Business
St. Cloud State University

St. Cloud curriculum includes two, three-credit courses called Accounting I and II (ACCT 291 and 292).  These courses have a pre-requisite of sophomore standing, a 2.4 GPA,  and the general education math course.  Students must receive a C or better to be admitted to a business major.  The topic coverage is:

St. Cloud State University
Accounting 291:  Accounting I, 3 credits
Topic	Time spent during the semester
The accounting model	20%
Income measurement and accrual accounting	8%
Merchandise accounting and internal control	7%
Accounting for assets	23%
Time value of money	5%
Accounting for liabilities	15%
Accounting for owners’ equity	22%
Accounting 292:  Accounting II  3 credits
Statement of cash flows	10%
Financial statement analysis	8%
Cost concepts and terminology	8%
Job order costing	10%
Activity based costing	10%
Cost behavior	10%
Cost-volume-profit analysis	10%
Relevant costs	8%
Budgeting	10%
Standard costing	8%
Decentralization, performance evaluation, transfer pricing	8%

When I evaluate any request for transfer credit, I compare the topic coverage from the syllabus of the sending institution to our coverage.  If there is about 75% or more overlap, I recommend awarding transfer credit.

The problem with this method is that it ignores the intensity of the course.  If the student covers all the topics over a longer duration, the experience is very different.  The preparation may be adequate, but not equivalent.  They haven't been challenged to learn and understand quickly.  This may become a problem in upper division courses, particularly for accounting majors. 

If institutions have significantly changed their courses in the last few years, I'd like to have a look at the new coverage.  Otherwise, if students from two-year schools continue to do well then there isn't a problem. 

St. Cloud State presently has transfer agreements to accept Principles I and II with Anoka-Ramsey, Central Lakes, Century, Furgus Falls, Fond Du Lac, Hibbing, Inver Hills, Itasca, Lake Superior, Messabi, Minneapolis, Minnesota West, Normandale, North Hennepin, Northland, Rainy River, Ridgewater, Riverland, Rochester, and Vermillion.

Ron Douglas
Assistant Professor, Accounting
Southwest State University

Transfer credit is accepted from Community, Junior and Technical Institutes/Colleges for Principles of Accounting I, Principles of Accounting II and Microcomputers in Accounting.  Our principles course is a transactional approach. We encourage the Community and Technical Colleges to adopt a text that is consistent with, university level, accounting curriculum. So to that end we would ask the various Community and Technical Colleges to provide a course syllabus, for the above mentioned, if that can be arranged.

Acceptance of Accounting Transfer Credit at Southwest State University

Transfer credit is classified as being from:

1. Business and Vocational Schools

2. Two-year community, junior, and technical institutes/colleges

3. Four-year accredited colleges and universities

Policy (effective with Summer Session I 1990):

1. From those schools most properly classified in #1 above, no accounting credit will be accepted toward a SSU accounting degree.

2. From those schools most properly classified in #2 above, courses substantially equivalent to our Principles of Accounting I, Principles of Accounting II and Microcomputers in Accounting will be accepted.

3. From those schools most properly classified in #3 above, courses substantially equivalent to our Principles of Accounting I, Principles of Accounting II and Microcomputers in Accounting will be accepted. All other accounting courses will be subject to approval by the Accounting faculty on a course-by-course equivalency basis. However, as a minimum, all students must complete for a letter grade at SSU all required 400 level accounting courses with a minimum of 16 credit hours in 0202-300 or 400 level courses.

Any exceptions to the above policy must be approved by the Accounting Program faculty. Substitution/waiver forms are to be used as appropriate. Any exceptions for coursework taken after enrollment at Southwest State University must be approved in advance. 

Dick Schneider
Chair
Winona State University

I would consider Principles I and II in the traditional sense, covering Financial and Managerial accounting, unless the 2 year college is not covering the Managerial topics.

Problem III. Confusion exists between upper versus lower division coursework and what should be taught by two-year colleges.

This was discussed at the November, 2002, meeting. The four-year universities explained that for accreditation, the intermediate accounting classes must be taught as upper-division courses on their campuses. The four-year universities do not consider intermediate accounting that is taught by the two-year colleges to be equivalent to their intermediate courses.

The four-year colleges stated that the university cannot graduate a student in accounting when the majority of course work is taken by that student at a different college; the university would not be able to maintain quality control and cannot guarantee this person has met their requirements. 

The two-year college representatives present at this meeting did not object to this; for the most part, they agreed that Intermediate Accounting is an upper level course.

Intermediate Accounting I and II is numbered at the three hundred or three thousand level or above at all the four-year universities:

Bemidji:  Accounting 3201 and 3202
Mankato:  Accounting 300 and 301
Metropolitan: Accounting 310 and 510
Moorhead: Accounting 330 and 331
St. Cloud: Accounting 381 and 382
Southwest:  Accounting 311 and 312
Winona:  Accounting 311 and 312

St. Cloud and Mankato are certified by the Association to Advance Collegiate Schools of Business (AACSB); Moorehead and Winona are applying for this certification. This certification requires that more than half of this program must be taught on their campus. Four-year colleges that do not have this certification often align their curriculum with the AACSB standards. The four-year colleges agree that of the sequence of Principles of Accounting I and II and Intermediate Accounting I and II, the first two courses are lower division courses and the second two are upper division to be taught at the four-year colleges.

At the meeting in March, 2003, it was asked if students could test out of intermediate accounting; most four-year colleges do allow this.

Two-year College Representative willing to work on transfer agreements with four-year universities:

Alexandria Technical College
Carole Brown

Anoka-Ramsey Community College
Barbara Prince

Central Lakes College
Jeff Wig

Century College
Allen Asplund

Dakota County Technical College
Doris Loues
Leo Chamber

Fergus Falls Community College
Jean McKenzie

Fond Du Lac Tribal and Community College
Sister Therese, Dean

Hennepin Technical College
Jerry Hoogers

Hibbing Community College
Richard Milani

Inver Hills Community College
Terry Kroshus

Itasca Community College
Nancy Alfuth

Lake Superior College
Jeri Brysch

Mesabi Range Community & Technical College
Martha Vidmar

Minneapolis Community  & Technical College
Harold Coulter

Minnesota State College—Southeast Technical
Jill Halverson

Minnesota West Community & Technical College
Jan Lange

Normandale Community College
Ashe Patel

North Hennepin Community College
Ronald  Strittmater

Northland Community and Technical College
Norma Konschak

Northwest Technical College
Gary Sorenson

Pine Technical College
Mary Jo Mettler

Rainy River Community College
Tom West

Ridgewater College
Tom Radtke

Riverland Community College
Kim Hanson

Rochester Community and Technical College
Leonard Cronin

St. Cloud Technical College
Mark Hollenhorst

St. Paul Technical College
Roy Vinkemeier

South Central Technical College
Bonnie Ohrt

Vermillion Community College
Jon Smith