Accounting MAcc/MSA Info Session Accounting MAcc/MSA Information Session October 20, 2014

Accounting MAcc/MSA Info Session Agenda Why a Master’s Degree? CPA Requirements Program Structures Admissions Process and Requirements Financial information

Accounting MAcc/MSA Info Session Winter & Spring Internships New accounting department opportunity Contact Katie Maxwell for additional information at

Accounting MAcc/MSA Info Session 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)

Accounting MAcc/MSA Info Session 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 –$ (REG & BEC); $ (FAR & AUD)

Accounting MAcc/MSA Info Session 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 * Master of Accounting Program –Provides additional 30 required semester hours –Provides additional accounting semester hours

Accounting MAcc/MSA Info Session 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.

Accounting MAcc/MSA Info Session 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 days to be approved (process could take longer – the board only meets once per month)

Accounting MAcc/MSA Info Session MAcc Program Structure 30 Units Total 2 Tracks of Study –Tax track –Audit track

Accounting MAcc/MSA Info Session Program Requirements Tax Track Fall: –Acct 555 (Taxation of Real Estate Transactions) –Acct 557A (Tax Return Preparation Lab – 2 unit) –Acct 657 (LLC, LLP, Partnership Tax) –Acct 655M (State & Local Tax) –Acct 531 (Principles of Auditing) Spring: –Acct 501 (Advanced Accounting) –Acct 647A (Corporate Taxation) –Acct 556 (Tax Provision and Related Topics) –Acct 655J International Taxation (2 units) –Acct 553 (Tax Research)

Accounting MAcc/MSA Info Session Program Requirements Tax Track In addition to the classes listed in the previous slide, students are required to take a two unit elective course Approved Elective Courses: Law 648 (Estate and Gift Taxation) Acct 521 (Business Law) Law 619 (Estates and Trusts) Law 646 (Federal Income Tax) Acct 562A (Technology for Accountants 1 unit) Acct 562B (Accounting Systems and Software 1 unit) ACCT 562C (International Financial Reporting Standards 1 unit)

Accounting MAcc/MSA Info Session Program Requirements Audit 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 MAcc/MSA Info Session Program Requirements Audit Track 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, 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.

Accounting MAcc/MSA Info Session Program Requirements Audit 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 513Fundamental Valuation Modeling MIS 513 Business Foundations for IT MIS 515Info Security in Public and Private Sectors MIS 516Privacy, Security, and Business Continuity LAW 619Estates and Trusts

Accounting MAcc/MSA Info Session 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

Accounting MAcc/MSA Info Session 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.

Accounting MAcc/MSA Info Session Admissions Deadlines Domestic/International: Fall 2015 – March 1, 2015 Spring October 1, 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 1 week prior to the beginning of the semester and continue to admit qualified students if space permits.

Accounting MAcc/MSA Info Session 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)

Accounting MAcc/MSA Info Session Admission Process with Waiver Graduate School Application –Apply online at –Accounting department application included –$75 application fee Official transcripts from all previous institutions attended for college credit besides U of A

Accounting MAcc/MSA Info Session Admission Process without Waiver Graduate School Application –Apply online at –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

Accounting MAcc/MSA Info Session GMAT Prep Test Dates –Reserve test date online ( ) –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 KAP-TEST Practice is key! –Invest in preparation materials Kaplan, Peterson’s, GMAT website ( –Practice on paper and on computer

Accounting MAcc/MSA Info Session 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 UnitsTotal 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, units $11,619 $20,110

Accounting MAcc/MSA Info Session Financial Assistance Scholarships –ASCPA Scholarship $2,000 –Many others listed on Accounting Department’s website Includes AICPA, ALPFA, and IIA

Accounting MAcc/MSA Info Session Teaching Assistantships 10 Hours per week *Non-resident fee is waived Semester value includes 50% tuition reduction and per semester stipend of $2928 The cost of student health insurance for the individual student is reimbursed 10% discount at all A.S.U.A. Bookstores Approximate Semester Value ResidentNon-Resident* $5,364$13,855

Accounting MAcc/MSA Info Session 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 have been selected. If you will be attending watch for s notifying students of this opportunity.

Accounting MAcc/MSA Info Session Guest Speakers U of A MAcc Graduates: –Monica Koestner Audit Associate Deloitte –Trish McCoy Tax Associate HBL

Accounting MAcc/MSA Info Session Questions? Leslie Cohen MAcc Coordinator Assistant: Hannah DeAlto (520) MSA Coordinator Assistant: Ryan Appel (520) A copy of these slides will be posted to the MAcc website within the next few days.