planning for the future... educational requirements for cpa licensure
TRANSCRIPT
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CALIFORNIA BOARD OF ACCOUNTANCY
PLANNING FOR THE FUTURE… EDUCATIONAL REQUIREMENTS
FOR CPA LICENSURE
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EDUCATIONAL REQUIREMENTS BEGINNING JANUARY 1, 2014
Conferral of a baccalaureate degree or higher, with:
150 semester units of education • 24 semester units in accounting subjects • 24 semester units in business-related subjects • 20 semester units of accounting study • 10 semester units of ethics study
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24 SEMESTER UNITS ACCOUNTING SUBJECTS
CBA REGULATION SECTION 9.2(b)
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24 SEMESTER UNITS ACCOUNTING SUBJECTS
Accounting Auditing Taxation Financial Reporting Financial Statement Analysis External or Internal Reporting
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24 SEMESTER UNITS ACCOUNTING SUBJECTS
Assurance Attestation Bookkeeping Cost (Cost Analysis, Costing) Peachtree/Quickbooks CPA Review Courses from nationally/regionally accredited institutions
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24 SEMESTER UNITS BUSINESS-RELATED SUBJECTS
CBA REGULATION SECTION 9.2(c)
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24 SEMESTER UNITS BUSINESS-RELATED SUBJECTS
Business Administration Business Management Business Communications Economics Finance Business Law Marketing Mathematics Statistics 7
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24 SEMESTER UNITS BUSINESS-RELATED SUBJECTS
Computer Science and Information Systems Business-related law courses offered by an accredited law school Any accounting subjects in excess of the 24 units needed to fulfill the accounting requirement
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20 SEMESTER UNITS ACCOUNTING STUDY
CBA Regulation Section 11.1
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20 SEMESTER UNITS ACCOUNTING STUDY
– Two options for meeting the 20 semester units of accounting study:
1. Conferral of a specified master’s degree 2. Completion of 20 semester units in the
following areas: accounting subjects, business-related subjects, other academic work relevant to accounting and business
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20 SEMESTER UNITS ACCOUNTING STUDY
– Specified master’s degrees include:
Master of Accounting Master of Taxation Master of Law in Taxation (LL.M.)
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20 SEMESTER UNITS ACCOUNTING STUDY
20 semester units of accounting study include:
Minimum 6 semester units in accounting subjects
Maximum 14 semester units in business-related subjects
Maximum 9 semester units in other academic work relevant to accounting and business
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20 SEMESTER UNITS ACCOUNTING STUDY
Other academic work relevant to accounting and business includes:
Skills-based courses Foreign languages/cultural & ethnic studies Industry-based courses
* Maximum of 3 semester units in any one of the above-listed areas
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20 SEMESTER UNITS ACCOUNTING STUDY
Skills-based courses include courses completed in the following disciplines:
Communications Journalism English
Physical Sciences Natural Sciences Social Sciences Life Sciences
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20 SEMESTER UNITS ACCOUNTING STUDY
Courses in foreign language Includes Sign Language
Courses with the following in the title: Culture Cultural Ethnic
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20 SEMESTER UNITS ACCOUNTING STUDY
Industry-based courses include: Courses with the words “Industry” or
“Administration” in the title Courses completed in the following disciplines:
• Engineering • Architecture • Real Estate
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20 SEMESTER UNITS ACCOUNTING STUDY
Maximum of 4 semester units may be completed in internships or independentstudy
Courses must be completed in the accounting
and business-related subjects.
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10 SEMESTER UNITS ETHICS STUDY
RESULTING FROM SENATE BILL 773
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10 SEMESTER UNITS ETHICS STUDY (SENATE BILL 773)
Comprised of 4 sections: 1. Mandatory accounting ethics 2. Specified courses relating to ethics 3. Specified disciplines focused on a
foundation of ethics 4. Financial statement auditing course
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10 SEMESTER UNITS ETHICS STUDY (SENATE BILL 773)
Minimum 3 semester or 4 quarter units in accounting ethics or accountants’ professional responsibilities
Required beginning January 1, 2017 Must be completed at an upper division level
or higher, unless completed at a community college
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10 SEMESTER UNITS ETHICS STUDY (SENATE BILL 773)
Maximum 7 semester units or 11 quarter units in courses with the following words in the course title:
* Between January 1, 2014 – December 31,
2016, applicants can complete up to 10 semester or 15 quarter units.
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10 SEMESTER UNITS ETHICS STUDY (SENATE BILL 773)
Auditing Business Law Corporate Governance Ethics, Morals, or Fraud Organizational Behavior Human Resources Management
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10 SEMESTER UNITS ETHICS STUDY (SENATE BILL 773)
Management of Organizations Business Government and Society Business Leadership Legal Environment of Business Corporate Social Responsibility Professional Responsibilities
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10 SEMESTER UNITS ETHICS STUDY (SENATE BILL 773)
Maximum 3 semester or 4 quarter units in courses from the following disciplines:
Philosophy Religion Theology
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10 SEMESTER UNITS ETHICS STUDY (SENATE BILL 773)
To qualify under one of the three identified disciplines the course title must contain one of the following words or term:
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10 SEMESTER UNITS ETHICS STUDY (SENATE BILL 773)
Introductory Introduction Principals of General
Foundation of Fundamentals of Survey of
Or
The sole name in the course title is the name of the discipline
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10 SEMESTER UNITS ETHICS STUDY (SENATE BILL 773)
Maximum 1 semester unit in a course devoted to financial statement auditing
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EDUCATION REQUIREMENTS FOR CPA LICENSURE BEGINNING JANUARY 1, 2014
24 SEMESTER UNITS OF ACCOUNTING SUBJECTS
& 24 SEMESTER UNITS OF
BUSINESS-RELATED SUBJECTS
32%
20 SEMESTER UNITS OF ACCOUNTING STUDY
13%
10 SEMESTER UNITS OF ETHICS STUDY
7%
72 SEMESTER UNITSNON-PRESCRIBED
48%
150 Semester Units
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CALIFORNIA BOARD OF ACCOUNTANCY
IMPLEMENTING CHANGES TO CPA LICENSURE REQUIREMENTS
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IMPLEMENTING CHANGE… HOW WILL IT IMPACT CPA LICENSURE APPLICANTS?
Substantial crossover with the requirements Considerable flexibility for courses to qualify Looking out for what’s best for the applicant
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CBA TRANSCRIPT REVIEW PROCESS
Reliance on transcripts to determine educational qualifications Clear course titles are of the utmost importance
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CBA TRANSCRIPT REVIEW PROCESS
1 – Determine accrediting agency/body & units earned – semester/quarter
2 – Verify educational requirements – of bachelor’s degree or higher, 24 semester units of accounting and 24 semester units of business-related subjects
3 – Tally all respective units
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DETERMINING COURSES
Rely on the definitions in CBA Regulations
Additional terms for accounting include: assurance, attestation, bookkeeping, cost (cost analysis, costing), Quickbooks, peachtree, and CPA Review courses
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IMPACT OF THE NEW RULES ACCOUNTING STUDY
Business as usual for identifying the accounting and business-related courses
Other Academic Work Relevant to Accounting and Business
Focus on course designator, e.g.: Engl, Bio, Chem, Soc, Span, French, etc.
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IMPACT OF THE NEW RULES ACCOUNTING STUDY
Identifying Master of Accounting, Taxation, and Laws in Taxation
Master of Accounting ≠
Master of Business Administration w/concentration in Accounting
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IMPACT OF THE NEW RULES ETHICS STUDY
Mandated Ethics – Beginning 2017 Ethics/professional responsibilities courses taken from Accounting departments Ethics/professional responsibilities courses with the term accounting in the course title
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IMPACT OF THE NEW RULES ETHICS STUDY
Courses taken from the course title list
Law requires courses contain specified words or terms
Minimal flexibility
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IMPACT OF THE NEW RULES ETHICS STUDY
Examples of …:
Ethical = Ethics Fraudulent = Fraud Morality = Morals Social Responsibilities of Corporations = Corporate Social Responsibilities Organizational Management = Management of Organizations
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IMPACT OF THE NEW RULES ETHICS STUDY
Examples of …:
Business & Society ≠ Business, Government & Society Leading Organizations ≠ Business Leadership or Management of Organizations
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IMPACT OF THE NEW RULES ETHICS STUDY
Courses taken from the disciplines list
Focus on course designators – Phil, Reg (HRS, RS, etc.), Theo Course title must include listed words/terms or have the sole name in the course title is the discipline
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IMPACT OF THE NEW RULES ETHICS STUDY
Courses taken from the disciplines list
Examples of courses that would meet: Phil – Introduction to Formal Logic Phil – Introduction to Philosophical Thought Rel – Foundations of Christian Faith Theo – Introduction to Sacred Scriptures
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IMPACT OF THE NEW RULES ETHICS STUDY
Courses taken from the disciplines list
Examples of courses that would not meet: Phil – Formal Logic Phil – Philosophical Thought Rel – Christian Faith Theo – Sacred Scriptures
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CALIFORNIA BOARD OF ACCOUNTANCY
IMPLEMENTING CHANGES TO CPA LICENSURE REQUIREMENTS
www.cba.ca.gov
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