Accounting MAcc /MSA Information Session

1. Accounting MAcc/MSA Information Session October 20, 2014

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

3. Winter & Spring Internships • New accounting department opportunity • Contact Katie Maxwell for additional information at maxwellk@email.arizona.edu

4. 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)

5. 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)

6. 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

7. 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.

8. 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)

9. MAcc Program Structure • 30 Units Total • 2 Tracks of Study • Tax track • Audit track

10. Program RequirementsTax Track Fall: • 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)

11. Program RequirementsAudit Track Required: • 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.

12. 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 Modeling MIS 513 Business Foundations for IT MIS 515 Info Security in Public and Private Sectors MIS 516 Privacy, Security, and Business Continuity LAW 619 Estates and Trusts

13. 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

14. 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.

15. Admissions Deadlines Domestic/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.

16. 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)

17. 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

18. AdmissionProcess 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

19. 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

20. Program Costs Included in the total above is a program fee of $5,750 per semester Tuition rates are based on Fall 2014 and subject to change

21. 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

22. 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

23. 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.

24. Guest Speakers • U of A MAcc Graduates: • Monica Koestner • Audit Associate • Deloitte • Trish McCoy • Tax Associate • HBL

25. Leslie Cohen • lcohen@email.arizona.edu • MAcc Coordinator Assistant: • Hannah DeAltohmcbride@email.arizona.edu • (520) 621-4455 • MSA Coordinator Assistant: • Ryan Appel ryanappel@email.arizona.edu • (520) 621-4455 • A copy of these slides will be posted to the MAcc website within the next few days. Questions?