accounting macc/msa info session accounting macc/msa information session october 20, 2014

Accounting MAcc/MSA Info Session

Accounting MAcc/MSA

Information SessionOctober 20, 2014


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


Winter & Spring Internships

• New 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– Complete CPA exam before starting work

• Improve employment opportunities– Master’s degree highly desired by employers– Master’s students ahead of peers in workforce

• Prepare for CPA before working– States with higher 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 US – 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– $171.25 (REG & BEC); $190.35 (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

• California and Texas require an Accounting Ethics course that is currently not required in Arizona.


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

• 2 Tracks of Study– Tax track – Audit track


Program RequirementsTax TrackFall:

– Acct 555 (Taxation of Real Estate Transactions)– Acct 557A (Tax Return Preparation Lab – 2 unit)– Acct 657 (LLC, LLP, Partnership Tax)– Acct 531 (Principles of Auditing)– Acct 655M (State & Local Tax)– Acct 562A/B/C (Technology for Accountants: Excel, Quickbooks,

and IFRS 1 unit)

Spring:– Acct 501 (Advanced Accounting)– Acct 522T (Corporate Taxation)– Acct 553 (Tax Research)– Acct 556 (Tax Provision and Related Topics)– Acct 655J (International Taxation (2 units)– Acct 562A/B/C (Technology for Accountants: Excel, Quickbooks,

and IFRS 1 unit)


Program RequirementsAudit TrackRequired:

• 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)

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, 461, 472A, or 451 as an undergraduate, you will not be allowed to take Acct 510, 561, 572A, or 554 respectively as a MAcc graduate.


Program RequirementsAudit Track

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

• Fall and Spring start dates– Summer courses available if prerequisites are

needed


Taking Courses as an Undergrad

• This is not allowed. You must be enrolled in the MAcc/MSA Program to be eligible for registration in MAcc/MSA courses.


Admissions DeadlinesDomestic/International:

• Spring 2015- October 1, 2014• Fall 2015 – March 1, 2014

• 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 1 week 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– 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– If took less than 9 units, exempt from requirement if units

appear in UAccess System


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 semesterTuition rates are based on Fall 2014 and subject to change

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 $14,393

7 units $11,619 $17,033

8 units $11,619 $18,572

9+ units $11,619 $20,110


Financial Assistance• Scholarships

– ASCPA Scholarship• $2,000

– Many others listed on Accounting Department’s website• Includes AICPA, ALPFA, and IIA• www.accounting.eller.arizona.edu/master/scholarships


Teaching Assistantships• 10 Hours per week

*Non-resident fee is waived

• Semester value includes 50% tuition reduction and semester stipend

• 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• 4 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 2014-2015 have been selected. If you will be attending 2015-2016 watch for emails notifying students of this opportunity.


Guest Speakers

• U of A MAcc Graduates:

– Monica Koestner• Audit Associate• Deloitte

– Trish McCoy• Tax Associate

• HBL


Questions?Leslie [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 website within the next few days.

accounting macc/msa info session accounting macc/msa information session october 20, 2014

Documents

advanced accounting

financial accounting

units acct

master of accounting

unit acct

arizona slide

tax research acct

accounting ethics course