Accounting MAcc/MSA Info Session Accounting MAcc/MSA Information Session April 15, 2015.

Accounting MAcc/MSA Info Session

Accounting MAcc/MSA

Information SessionApril 15, 2015


Agenda• Why a Master’s Degree?• CPA Requirements• Program Structures• Admissions Process and Requirements• Financial information


Winter & Spring Internships

• Accounting department opportunity• Contact Katie Maxwell for additional

information at [email protected]


Why a Masters Degree?• Expand upon undergraduate work

– Study advanced topics in accounting– More course facilitation and discussion

• Improve employment opportunities– Master’s degree highly desired by employers– Master’s students ahead of peers in workforce– Always have it on your resume

• Prepare for CPA before working– States with 150 credit requirements (e.g.

Arizona)


CPA General Information• Must apply to the State Board where you plan to

work• Uniform exam can be taken at any testing center

around the U.S. – NOT just the state where you will be licensed

• 4 Parts – Audit, Regulation, Business Environment and Concepts, and Financial Accounting and Reporting

• Fee for each part as of Spring 2015– $172.51 (REG & BEC); $192.03 (FAR & AUD)


Arizona CPA Certification Requirements

• Arizona State Board of Accountancy*– Baccalaureate Degree– 150 semester hours– 36 semester hours in accounting courses

• 30 in upper division accounting courses– 30 semester hours of related courses

* http://www.azaccountancy.gov/Certification/FAQs.aspx#Q4

• Master of Accounting Program– Provides additional 30 required semester hours– Provides additional accounting semester hours


Non-Arizona CPA Requirements

• Requirements for the CPA vary by state – you will need to research the state you plan to be licensed in to ensure you have all necessary requirements


Sitting for CPA Exam during Program

• Criteria for Arizona – Bachelor’s degree– 24 units in accounting (12 upper division)– 18 units of related courses

• Must apply to AZ Board of Accountancy– $100 fee– Takes 45-60 days to be approved (process could

take longer – the board only meets once per month)


MAcc Program Structure• 30 Units Total – 24 required units, 6

elective units

• 2 Tracks of Study– Tax track – Audit track


Program RequirementsTax Track

Fall:– Acct 555 (Taxation of Real Estate Transactions)– Acct 557A (Tax Return Preparation Lab – 2 units)– Acct 657 (LLC, LLP, Partnership Tax)– Acct 531 (Principles of Auditing)– Elective

Spring:– Acct 501 (Advanced Accounting)– Acct 647A (Corporate Taxation)– Acct 556 (Tax Provision and Related Topics)– Acct 553 (Tax Research)– ACCT 562A (Technology for Accountants: Excel – 1 unit)– Elective


Program RequirementsTax Track

• Approved Elective Courses:

• Acct 521 (Business Law)• Law 648 (Estate and Gift Taxation)• Law 619 (Estates and Trusts) • Law 646 (Federal Income Tax)• Law 655M (State and Local Taxation)• Law 655J (International Taxation)• Law 652A (Formation & Taxation of NFP)• Law 649G (Federal Tax Policy)


Program RequirementsAudit Track

Required Courses:• Acct 531 (Principles of Auditing)• Acct 522 (Advanced Federal Taxation) • Acct 532 (Audit Simulation)• Acct 501 (Advanced Accounting) • Acct 525 (Accounting Theory and Institution)• Acct 521 (Business Law)• Acct 561* (Accounting Information Systems)• Acct 580 (Communication Skills for the Accounting Profession)

*Only if not taken previously at the undergraduate level



Accounting Electives:• Acct 510* (Principles of Profit Planning and Control)• Acct 554* (Accounting Analysis of Financial Statements)• Acct 572A* (Government and Not-For-Profit)• Acct 562A (Technology for Accountants 1 unit)• Acct 562B (Accounting Systems and Software 1 unit)• Acct 562C (International Financial Reporting Standards, 1 unit)• Acct 556 (Tax Provisions)

* If you have taken Acct 410, 472A, or 451 as an undergraduate, you will not be allowed to take Acct 510, 572A, or 554 respectively as a MAcc graduate.



If you choose not to take any of the three optional accounting courses you may take an approved ACCT, MIS, FIN, ECON, or LAW course.

Common Electives in other Concentrations:

FIN 513 Fundamental Valuation ModelingMIS 513 Business Foundations for IT MIS 515 Info Security in Public and Private SectorsMIS 516 Privacy, Security, and Business ContinuityLAW 619 Estates and Trusts


MSA Program• Master of Science in Accounting

• Requirements:– At least 18 units of Accounting (6 courses)– 12 units of Acct or Non-Acct Courses


Course Eligibility• You must be enrolled in the MAcc/MSA Program to

be eligible for MAcc/MSA courses.


Admissions DeadlinesDomestic/International Priority:

• Fall 2015 – March 1, 2015• Spring 2016- October 1, 2015

International Final Deadline: applicant must be complete and reviewed by this date

• Fall 2015 – June 1, 2015• Spring 2016- October 15, 2015

• We continue to accept applications after these deadlines but priority for aid and admission is given to early applicants.

• We will continue to review applications until a few weeks prior to the beginning of the semester and continue to admit qualified students if space permits.


Admissions Requirements• Minimum Requirements

– 4-year Bachelor's Degree– 3.0 GPA (4.0 scale)

• Requirements for Waiver– Student is one semester away from earning their undergraduate

degree in Accounting from U of A or has earned the degree within the past 12 months AND

– Overall GPA: 3.2 (including courses at all institutions attended)– Upper Division Acct GPA: 3.0 (does NOT include ACCT 200 and

210)


Admission Process with Waiver

• Graduate School Application– Apply online at www.grad.arizona.edu– Accounting department application included– $75 application fee

• Official transcripts from all previous institutions attended for college credit besides U of A


Admission Process without Waiver

• Graduate School Application– Apply online at www.grad.arizona.edu– Two letters of reference– Three essays– Resume– GMAT– $75 application fee

• Official transcripts from all previous institutions attended for college credit besides U of A


GMAT Prep

• Test Dates– Reserve test date online (http://www.mba.com/the-gmat.aspx)– Test fee of $250– Most centers open 6 days a week– 4 test centers in Arizona (Tucson, Phoenix, Flagstaff)

• Information Sessions– Kaplan on campus – Call 1-800-KAP-TEST

• Practice is key!– Invest in preparation materials

• Kaplan, Peterson’s, GMAT website (www.gmac.com)– Practice on paper and on computer


Program Costs

Included in the total above is a program fee of $5,750 per semester.Tuition rates are based on Spring 2015 and subject to change.http://www.bursar.arizona.edu/students/fees

Units Total Resident Tuition & Fees

Total Non-Resident Tuition & Fees

3 units $8,268 $10,587

4 units $9,097 $12,189

5 units $9,926 $13,791

6 units $10,755 $15,393

7 units $11,618 $17,032

8 units $11,618 $18,571

9+ units $11,618 $20,109


Fall 2013, Spring 2014 Graduates (77)

Job Offer Searching Not Searching Returning to Home Country0

10

20

30

40

50

60

70

80

71

2 2 2

Num

ber

of

Stu

dents


Graduates - Job Placement (71)

Big 4

Other

Pub

lic A

cct

Priv

ate

Gover

nmen

t

Finan

cial S

ervi

ces

Additi

onal

Edu

catio

n (P

hD, L

aw S

choo

l)0

5

10

15

20

25

30

35

2931

7

2 1 1


Graduates - Job Placement Locations (71)

Tucson Phoenix California Texas Colorado Other0

5

10

15

20

25

30

23

28

9

12

8


Graduates – Public Accounting Firms (60)

EY PwC Deloitte KPMG Mid-Tier Small0

2

4

6

8

10

12

14

16

18

10

7

11

1

14

17


Financial Assistance• Scholarships

– Accounting Department Scholarship– Many others listed on Department of

Accounting’s website• Includes AICPA, ALPFA, and IIA• https://macc.eller.arizona.edu/scholarships


Teaching Assistantships• 10 Hours per week

*Non-resident fee is waived

• Semester value includes 50% tuition reduction and per semester stipend of $2,928

• The cost of student health insurance for the individual student is reimbursed

• 10% discount at all A.S.U.A. Bookstores

Approximate Semester Value

Resident Non-Resident*

$5,364 $13,855


Staff Positions• 3 positions• 20 scheduled hours per week• Qualified tuition reduction (QTR) – Program fee and

tuition costs are fully covered – typical uncovered fees are between $500 - $600 per semester

• QTR benefit is taxable, so paychecks are a very minimal amount

• QTR status does not disqualify from loan eligibility

• Positions for 2015-2016 have been selected. If you will be attending 2016-2017 watch for emails notifying students of this opportunity.


Guest Speakers

• U of A MAcc Graduates:

– Katie Starling• Audit Associate• EY

– Shaan Mahmood• Audit Associate

• R&A


Questions?Dean [email protected]

MAcc Coordinator Assistant:Hannah DeAlto [email protected](520) 621-4455

MSA Coordinator Assistant:Ryan Appel [email protected](520) 621-4455

A copy of these slides will be posted to the MAcc and MSA websites within the next few days.


Q&A During PresentationQ - Can you start sitting for the exam before the 150 credit hours requirement is met? A - Varies by state (i.e. no in Texas, yes in Arizona). Certification standards are set by the individual states and can vary considerably; therefore, you should always check the respective state for any requirements (whether to sit for the exam or to qualify for certification). Becker CPA review has a good resource at the following site: http://www.becker.com/cpa-review/resources/about-exam/requirements Q - If in the tax track, can you earn a law degree simultaneously with a MAcc degree? A – The Graduate College allows you to only overlap 2 courses for the MAcc degree and the Law degree. Typically, students will complete the MAcc and then continue on to their law degree. Q - Are the audit and tax track courses listed on the Accounting Department website? A - Yes, see https://macc.eller.arizona.edu/curriculum-courses/curriculum.

http://www.becker.com/cpa-review/resources/about-exam/requirements

https://macc.eller.arizona.edu/curriculum-courses/curriculum


Q&A During PresentationQ - Does the waiver only excuse the GMAT? A - No, the waiver excuses the GMAT, essays, and letters of reference. Q - When is the waiver deadline? A - There is no specific waiver deadline, it is synonymous with application deadlines. GPA qualification for the waiver is considered at the time of application (e.g. applying for Fall 2015, grades will be considered through Fall 2014 if applying Jan – May or Spring 2015 if applying over the summer). Q - Is there a cut-off score for the GMAT? A – No, there is no firm cut-off, but we have found that students under 500 are typically not as successful in the program. Average GMAT scores can be found here: https://macc.eller.arizona.edu/admissions/class-profiles.

https://macc.eller.arizona.edu/admissions/class-profiles


Q&A During PresentationQ - Do you receive the TA benefits if you’re already an in-state resident? A – Yes, you still receive a 50% reduction in in-state tuition and a payment stipend each semester. For more details see https://macc.eller.arizona.edu/scholarships/teaching-assistantships. Q - When do students start applying for scholarships? A - TA positions are evaluated at the March/October deadline. Department scholarships are decided once the student has been accepted into program – need based department scholarships for the summer have an application deadline in July. For all other scholarships, there are various application deadlines that can be found here: https://macc.eller.arizona.edu/scholarships.

https://macc.eller.arizona.edu/scholarships/teaching-assistantships

https://macc.eller.arizona.edu/scholarships/teaching-assistantships

https://macc.eller.arizona.edu/scholarships


Q&A for Guest SpeakersQ - What is the time commitment compared to undergrad? A - A lot more. It is hard to quantify in hours, but probably close to double the time. Q - When do you find time to take the CPA exam while enrolled in the Master’s Program? A - Winter break and spring break are great times, be sure to line up your courses with the sections you want to take (i.e. take Reg while in a tax course). Q - Do students have internships during the Master’s program? A - Internships are usually done during your senior year/over the summer. It would be hard to hold an in-semester internship while enrolled in the Master’s program and is often not done by students.

Accounting MAcc/MSA Info Session Accounting MAcc/MSA Information Session April 15, 2015.

Documents

Transcript of Accounting MAcc/MSA Info Session Accounting MAcc/MSA Information Session April 15, 2015.