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Master of Accountancy in Financial Accounting Program Overview C. Daniel Stubbs, Jr., MBA, CPA Director, MAccy - FA Master of Accountancy in Financial Accounting CPA 150-Hour Licensing Requirement Currently 47 of 54 licensing jurisdictions require 150 credit hours. Candidates can sit for the Uniform CPA Exam after completion of their undergraduate degrees in 22 of the 47 jurisdictions, but are required to complete 150-hour educational requirement prior to being licensed. Alternatives: (1) undergrad degree and selected courses (2) structured program with advanced degree Key source for NJ Education Requirements: http://www.njscpa.org/students/exam/edreq.cfm Key source for NY Education Requirements: http://www.op.nysed.gov/prof/cpa/cpa150hour.htm Master of Accountancy in Financial Accounting Why a Masters Degree • Competition: Many of your peers in public acctg will have completed a 150-hour program and received a Masters degree • Success: Pass rate of candidates sitting for Uniform CPA Examination with advanced degrees is significantly higher than candidates w/o advanced degrees • LT Compensation: IMA salary survey indicates increased earnings for accountants with combo of certification and graduate degree • Career: Promotions to partner and corporate managerial positions increasingly (naturally?) go to candidates with graduate degrees Master of Accountancy in Financial Accounting Design of Rutgers Alternative • Starting dates at public accounting firms (pushed to Fall and January – no Summer starts) • Core courses in summer – classroom only (NB and Newark cohorts) • Distance learning courses in Fall/Spring • Advanced standing for undergraduate courses on 3:2 basis • Basically 24 hours of additional course work required for Masters, assuming acceptance of 6 hours of Advanced Standing for qualifying undergraduate courses (upper level courses) Master of Accountancy in Financial Accounting Core Courses • Decoding of Corporate Financial Communications – Strengthen ability to understand/interpret financial reporting • Advanced Auditing & Accounting Information Systems – Increase familiarity with IT audit methodology • Accounting for Digital Era – Increase understanding of accounting information evolution • Contemporary Issues in Corporate Governance – Strengthen appreciation of roles/motivation of management and regulators • Advanced Accounting Research – Hands-on familiarity with tools Master of Accountancy in Financial Accounting Program Course Offerings • CORE 1. Advanced Auditing & AIS 2. Decoding of Corporate Financial Communications 3. Accounting for Digital Era 4. Contemporary Issues in Corporate Governance 5. Advanced Accounting Research • ELECTIVES 6. Advanced Tax Research 7. Business Valuations 8. Ethics in Business 9. Forensic Accounting 10. Litigation Support & Bankruptcy 11. Governmental Accounting and Auditing 12. Management Controls in Not-for-Profit Organizations Master of Accountancy in Financial Accounting Advanced Standing • Allows credit to be given for courses taken at the undergraduate level (3:2 ratio) • Graduates still need a total of 150 credits for licensure • Acceptance criteria guidelines – Upper division courses only to qualify – Undergraduate electives which are an appropriate substitute for graduate courses offered as electives • Some examples – Ethics – Governmental Accounting – Federal Tax II Master of Accountancy in Financial Accounting Financial Aid The Financial Aid Office has designed a program for students admitted to the Master of Accountancy in Financial Accounting Contact Person in Financial Aid Office: Maria C. Correia Assistant Manager, Financial Aid Blumenthal Hall, Room 302 973-353-5151 or [email protected] Master of Accountancy in Financial Accounting Staff Contact Information C. Daniel Stubbs, Jr., Director Rutgers Business School – Newark and New Brunswick One Washington Park, Room 910 Newark, NJ 07102 Phone: 973-353-1011 E-Mail: [email protected] Trudy-Ann Morris-Hewitt, Program Assistant Department of Accounting, Business Ethics and Information Systems Rutgers Business School - Newark and New Brunswick One Washington Park, Room 911B Newark, NJ 07102 Phone: 973-353-1029 E-mail: [email protected]