The path to professional.

Transcription

1 The path to professional. ACCOUNTING MAJOR ADVISING BOOKLET Name My faculty advis is Catalog f maj Catalog f general education Fall 2010

2 The Department of Accounting and Finance seeks to instill high ethical standards in all students. Students are expected to be familiar with and to uphold the University of Montana Student Conduct Code ( Academic misconduct is not tolerated. ACCOUNTING FACULTY Teresa Beed Profess , GBB 315 Direct of Masters of Accountancy Program Barbara Chaney Associate Profess , GBB 309 Joshua Herbold Assistant Profess , GBB 320 Terri Herron Profess , GBB 316 Department Chair Ron Premuroso Assistant Profess , GBB 341 Barbara Reider Profess , GBB 311 Kent Swift Associate Profess , GBB 319. School of Business Administration Mission Statement The University of Montana s School of Business Administration is a collegial learning community dedicated to the teaching, explation, and application of the knowledge and skills necessary to succeed in a competitive marketplace.

3 Table of Contents About the Accounting Program... 1 Career Advising... 1 Course Advising Freshman and Sophome Years... 2 Course Advising Juni and Seni Year... 3 Advising Tips... 5 The Rules... 6 Department of Accounting and Finance Policies... 7 Masters of Accountancy... 7 Beta Alpha Psi... 8 Professional Organizations... 8

4 About the accounting program Undergraduate accounting majs may select from a variety of career and higher education pathways. So the undergraduate accounting program is designed to provide a broad base of analytical and qualitative business knowledge that would apply to any accounting field. The Accounting programs at the University of Montana are accredited by AACSB (Association to Advance Collegiate Schools of Business International). Only 173 institutions wldwide hold this gold standard accreditation, and no other accounting program in the state holds this distinction. In fact, only 10 schools in all of Washington, Oregon, Idaho, and Montana hold separate AACSB accounting accreditation. We are very proud of earning this distinction and strive to continually improve our programs in the spirit of AACSB accreditation. The Department of Accounting & Finance values high quality teaching; thus we take care to place our full-time tenured tenure-track professs in the required upper division accounting courses. This also provides students the opptunity to get exposure to a diverse collection of teaching styles, while fming professional relationships with a number of faculty members. Mission Statement - Undergraduate Accounting Studies The Department of Accounting and Finance prepares ethically aware decision makers with effective analytical and qualitative business knowledge and skills to become professionals in their respective fields. Assessment Outcomes Students graduating with a maj in accounting will: Possess fundamental accounting knowledge f professional accounting positions Demonstrate communication skills Critically analyze and solve problems, using technology where appropriate Understand the imptance of ethics to the accounting profession and demonstrate ethical decision making Career Advising Accounting majs are ftunate to have many, many options available as careers. All ganizations need accountants!! Some need accountants with only bookkeeping knowledge, which you can acquire without getting an accounting degree. Most need accountants with detailed knowledge of GAAP, financial statements, and management skills, which requires at least an undergraduate degree. Because we realize students may not have a clear idea of what field of accounting they would like to enter, we bring in guest speakers and panels that represent a wide variety of careers. These include: External Auditing Tax Prep/Research Cpate Accounting Nonprofit Accounting Tax Compliance Government Accountant Internal Auditing Fensic Accountant Fraud Audit Financial Consultant IS Audit/Consultant Entrepreneur Most professional accounting positions either require prefer the CPA certification. Some positions also seek specialty certifications such as the CMA, CIA, CISA (see last page of booklet f a list of certifications). To earn a CPA in most states in the U.S., you must have 150 college credits, though he specific requirements f licensure vary from state to state. Many accounting 1

5 programs accommodate this requirement by offering a one-year (30 credit) masters degree in accounting. UM s Master of Accountancy (MAcct) degree is structured to be completed in one year. The MAcct has a reputation f high quality, advanced study in accounting, development of interpersonal skills, and an extremely high job placement rate. UM s MAcct students succeed in much higher rates on the national average on the CPA exam. Because the undergraduate program is not complete preparation f the CPA exam, those wanting to be a CPA without obtaining our MAcct degree will be looking at significant self-study to be successful on the exam. Recruiters tell us that they assume all accounting majs will have the appropriate technical basis f the job. What differentiates applicants is their ability to communicate, think on their feet, present themselves professionally, and analyze complex problems without apparent black and white answers. The me education you get, the me these skills will develop. Course Advising Freshman and Sophome Years To do list: Complete the 11 lower-ce courses required f any business maj (see below) Earn grades of C better in these 11 lower-ce courses Take the UM Writing Proficiency Assessment (cannot declare your accounting maj until you attempt this exam, effective Fall 2010) Take some general education classes Take some elective classes Apply f the accounting maj the semester befe beginning 300-level business courses Begin attending Career Development activities in the SoBA It is advisable to balance your schedule so that you do not find yourself with some of the me challenging courses all in the same semester. If you expect to have difficulties with any subject, take that subject early. This will allow you the most degrees of freedom. Because of the requirement to earn a C better in all 11 of these lower ce courses, some students find the need to repeat a course to achieve the C grade (note: C- does NOT count as a C). 11 Lower Ce Courses Required f any business maj WRIT 101 M 115 M 162 College Writing I Probability & Linear Math Applied Calculus (finance majs must choose this course) STAT 216 Introduction to Statistics (Prereq = M 115) ECNS 201S Principles of Microeconomics ECNS 202S Principles of Macroeconomics (Prereq = ECNS 201S) CSCI 172 Intro to Computer Modeling COMM 111A Introduction to Public Speaking ACTG 201 Princ. of Financial Accounting (Co-requisite = M 115 M 162) ACTG 202 MIS 257 Princ. of Managerial Accounting (Prereq = ACTG 201 and M 115 [ M 162], each with a C better) Business Law MIS 270 Management Infmation Systems (Prerequisite = CSCI 172) 2

6 Prereq = you must complete the prereq BEFORE taking the course (not with after) Ceq = you must complete the ceq BEFORE WHILE taking the course (not after) A suggested course progression is below: SEMESTER 1 SEMESTER 2 WRIT 101 College Writing 3 COMM 111 Public Speaking 3 M 115 Probability and Linear Math 3 CSCI 172 Intro to Computer Modeling 3 ECNS 201 Prin of Microeconomics 3 ECNS 202 Principles of Macroeconomics 3 Elective (consider MIS 100 Intro to Business) 3 Elective - Non - business 3 General Education Course 3 General Education Writing Course 3 Total 15 Total 15 SEMESTER 3 SEMESTER 4 ACTG 201 Principles of Financial Accounting 3 ACTG 202 Princ. of Managerial Acct 3 STAT 216 Introduction to Statistics 4 MIS 257 Business Law 3 Elective - Non - business 3 MIS 270 Management Info Systems 3 Elective - Non - business 3 General Education Course 3 General Education Course 3 General Education Course 3 ACTG 203 Accounting Lab ( semester 5) 1 Take Writing Proficiency Assessment Apply f accounting maj Total 16 Total Students must complete each of the courses above with a C (2.00) better in der to take upperdivision courses in the School of Business Administration. A grade of C- is not acceptable. Course Advising Juni and Seni Years Most of your accounting courses will be taken in your juni and seni years. Imptant notes about these courses: Many 300- and 400-level accounting courses are only offered one term per year you must plan ahead and do well in these courses to stay on track f graduation All course prerequisites and cequisites are strictly enfced f undergraduates You must first earn a C better in ACTG 305 and ACTG 203 befe you can take ACTG 306 ACTG 307 You can take ACTG 203 Accounting Lab right after you take ACTG 201; but you must take it no later than the semester you are taking ACTG 305 ACTG 321 (whichever you take first) It is highly recommended to take no me than two 3-credit accounting courses once you start the 300-level coursewk FIN 322 should be completed as early as possible to increase synergy with accounting courses You must earn a C- better in the four upper ce classes BEFORE you take a capstone course (MGMT 445, MGMT 446, and MIS 448 are capstone courses) You should meet with your faculty advis in your juni year to discuss career options and how those might impact your future coursewk and plans When you have completed the 11 lower ce classes, achieved at least 60 credits, and applied f and been accepted in your accounting maj, then you can begin taking upper division business classes. These are in three groups: (1) those required f your accounting maj, (2) upper ce classes, and (3) a capstone course. Unless otherwise noted in a prerequisite, you must complete these courses with a grade of C- better. Courses and prereqs/ceqs are listed below: 3

7 ACCOUNTING COURSES PREREQ / COREQ ACTG 203 Accounting Lab (1 cr) Prereq=ACTG 201, C better ACTG 305 Cpate Repting I Ceq=ACTG 203 ACTG 306 Cpate Repting II Prereq=ACTG 203 and 305, Cs better ACTG 307 Cpate Repting III* Ceq-ACTG 306 ACTG 321 Accounting Info Systems Ceq=ACTG 203 ACTG 401 Prin. Fed Income Tax Individual Ceq=ACTG 306 ACTG 410 Cost/Management Acct I Seni standing ACTG 420 Cost/Management Acct II* Prereq=ACTG 410 ACTG 411 Auditing Prereq=ACTG 321 and ACTG 306 ACTG 415 Govt/Nonprofit Acct Ceq=ACTG 306 (*choose one from these two) UPPER CORE COURSES PREREQ / COREQ FIN 322 Business Finance lower ce done, Cs better MIS 341 Operations Management lower ce done, Cs better MKTG 360 Marketing Principles lower ce done, Cs better MGMT 340 Mgmt & Org Behavi lower ce done, Cs better The following is a suggested course plan f 300- and 400-level coursewk. Those only offered f the one term listed are marked with **: SEMESTER 5 SEMESTER 6 ACTG 305 Cpate Repting I 3 ACTG 306 Cpate Repting II 3 ACTG 321 Accounting Infmation Systems 3 ACTG 307 ACTG 415 Cpate Repting III** Govt/Nonprofit Accounting** 3 ACTG 203 Accounting Lab (if not already taken) 1 MIS 341 Operations Management 3 FIN 322 Business Finance 3 MKTG 360 Marketing Principles 3 Elective Non-business 3 General Education Writing Course 3 General Education Course 3 Total Total 15 SEMESTER 7 SEMESTER 8 ACTG 401 Prin Fed. Income Tax Individual** 3 ACTG 411 Auditing I** 3 ACTG 410 Cost/Management Acct I** 3 ACTG 307 ACTG 415 Cpate Repting III** Govt/Nonprofit Accounting** 3 MGMT 445 MGMT 446 MIS 448 Small Bus Mgmt/Strat Planning Strategic Management Management Game 3 MGMT 340S Mgmt & Organizational Behavi 3 Elective - Non - business 3 Elective Non-business 3 General Education Course 3 ACTG 432 VITA (recommended elective) 1 Apply f spring graduation Elective 2 Total 15 Total 15 4

8 Advising Tips: The following offerings are planned in the next year. Note that some courses are only offered once per year. Variation to this plan are announced in classes, at group advising sessions, and at 4Bear advising appointments. ACTG 203 fall, spring ACTG 305 fall, spring ACTG 306 fall, spring ACTG 307 spring only ACTG 321 fall, spring ACTG 401 fall only ACTG 410 fall only ACTG 411 spring only ACTG 415 spring only ACTG 420 not offered Accounting majs should never depend upon a particular course being offered during the summer. Summer offerings are determined early in the spring pri to summer session but befe registration f fall semester. It is at this point that students can determine if a particular accounting class will be offered during summer session. Each student should meet in person with his her assigned faculty advis starting in the juni year. You can either see your advis during regular office hours make an appointment. You will still get your advising number at the group advising sessions. Accounting Infmation Systems (ACTG 321) is best taken in the same semester as Cpate Repting I (ACTG 305) F those students interested in pursuing a CPA, ACTG 307 should be taken instead of ACTG 420. F those students interested in pursuing the CMA, ACTG 420 should be taken instead of ACTG 307 (note: ACTG 420 will not be offered in ). Students are encouraged to take ACTG 432 (VITA Volunteer Income Tax Assistance) in the spring semester of their seni year. This is a 1-credit, C/NCR course where students provide income tax preparation f lower-income taxpayers. Students also conduct outreach by going to agency locations to prepare returns f underserved populations such as teen mothers, homeless families, and disabled community members. Consider completing an accounting internship if you have room in your business electives. Many firms use part-time spring internships and/ full-time summer internships as the primary means of hiring f full-time positions (offering next year s full-time positions to interns at the end of their internships). Faculty are required to hold office hours to meet students one-on-one. If you have any difficulties in a class, you should see your instruct as soon as possible. Do not try to solve the problem on your own. If you are proactive, then you will likely succeed. 5

9 The Rules The catalogue dictates a number of rules that you must follow in der to graduate. These rules cannot be waived, so it is imptant that you pay attention to them as you go along. We see students every year who must delay their graduation because they fail to meet these. 1. All lower ce courses must be completed with a grade of C better (not C-). 2. All upper ce courses must be completed with a grade of C- better. 3. You must earn a C- better in any course counted as a gen ed course. 4. Some courses in the accounting maj require a grade of C better (ACTG 203, 305). 5. You must earn at least 120 credits. 6. Of the 120 credits, 60 must be non-business (ECNS may be counted as non-business). 7. HHP activity courses cannot count in the 60 non-business courses. 8. If you earn two business majs, you will exceed 120 credits. 9. All courses counted towards the maj gen ed must be taken f a letter grade. 10. A maximum of 6 internship credits can count toward your degree (as electives). 11. All business majs are required to take experiential courses. Because ACTG 321, ACTG 401, and the capstone course are designated as experiential, accounting majs will automatically meet the experiential requirement. 12. Your GPA must meet three tests: a. Overall GPA at least 2.0 b. GPA in business courses at least 2.0 c. GPA in maj courses at least You must attempt the Writing Proficiency Assessment (WPA) befe your application to be a business maj will be approved (effective Fall 2010). 14. You must pass the WPA to graduate from UM. See me infmation at You must pass the Maj Field Test in Business to earn a business degree from UM. You will be required to take this test in the semester you are enrolled in the capstone. 16. You must earn 39 upper division credits at UM (upper division residency requirement). 17. You must earn 30 of your last 45 credits at UM (end of degree residency requirement). 18. Departments reserve the right to accept deny any transfer credits that apply in the maj, so you must get these approved ahead of time. 19. In general, once you start your accounting maj at UM, you are expected to take UM accounting courses to complete the maj (exceptions f exchanges apply). 6

10 Department of Accounting and Finance Policies 1. Department faculty members will sign drop slips until the University s official mid-term drop date. After that date, a petition is required. A petition will not be approved unless the student can produce documentation of meeting one of the approved circumstances per the UM catalog. The instruct reserves the right to deny petitions to drop. 2. The Department strictly enfces accounting and School of Business Administration prerequisites. Prerequisites may be checked in any class. If a student does not meet course prerequisites, he is required to drop the course. 3. It is the student s responsibility to plan his schedule, including the possibility that not all classes may be available every semester. To avoid the possibility of a delay in graduation, students should regularly consult with their faculty advis about the departmental plans f course offerings. 4. A career in accounting is a professional career. Students are expected to act professionally in all of their courses and in their contact with faculty members. Faculty members of the department are dedicated to helping all students achieve their professional career goals. To accomplish this, it is essential that students respect each other s right to pursue their education in the most beneficial atmosphere possible. 5. Students must use an approved calculat on examinations: HB 10BII and TI BAII+. The instruct must approve the use of any other calculat. 6. Department faculty members maintain an open-do policy. Students are encouraged to visit faculty during their office hours to seek appointments to discuss any academic career questions. Masters of Accountancy The baccalaureate program does not offer full preparation f professional certification as a Certified Public Accountant (CPA). Students wanting to become CPAs are strongly advised to complete the Master of Accountancy (MAcct) degree. Masters of Accountancy Mission Statement The Masters of Accountancy program provides breadth and depth in accounting, taxation, and business to develop a high level of understanding, skill and leadership capability f advancement in the accounting profession and other related business careers. Dr. Teresa Beed is the Direct of the MAcct program. Any student considering the MAcct program should make an appointment with Dr. Beed to fully understand the program admission requirements and recommended application timing. We also provide MAcct infmation in a seni level accounting class each fall. CPA exam pass rates f MAcct students are significantly higher than non-macct students. Students interested in the MAcct should be sure and choose ACTG 307 Cpate Repting III in their undergraduate accounting program. February 1 st is the application deadline f all students applying f graduate scholarships graduate assistantships (f start dates in the following summer fall). Currently, all MAcct students in their last year of coursewk are granted at least a $1,000 scholarship. 7

11 Beta Alpha Psi Beta Alpha Psi is an ganization geared f the serious financial infmation student who wants to have a little fun and GET INVOLVED! Beta Alpha Psi has achieved national and professional recognition as the outstanding Accounting, Finance, and Infmation System student ganization Goals of Beta Alpha Psi: Instill a desire f self-improvement Foster high mal and ethical standards Encourage and recognize academic and professional excellence Cultivate responsibility and community spirit Promote collegiate study of professional accountancy Provide access to practicing professionals Beta Alpha Psi Offers YOU! Contact with local and national accounting firms Social events sponsed by accounting firms Presentations of job opptunities in public and private accounting Faculty and student interaction Travel to regional and national meetings Community service opptunities Membership Requirements 3.0 GPA overall (must be an accounting, finance, infmation systems maj with a 3.0 GPA in at least one upper-division course in your maj) Completion of 30 undergraduate credit hours Attend all-member meetings, professional events, initiation celebration, community service events, and fund-raising events Pay one-time national initiation fee Pay semester dues Many recruiters recognize the achievement of Beta Alpha Psi membership and involvement. The UM chapter has been recognized as a Superi Chapter (the best categy!) f seven years. This a great opptunity to get involved and know your peers. F me infmation, visit the national Beta Alpha Psi website: Dr. Terri Herron, advis. Professional Organizations We encourage all students to join at least one professional ganization that serves wking accounting professionals in a variety of careers. All offer some kind of deeply-discounted student membership rate, though students get full membership benefits. Not only does it look good on a resume, but it also introduces students to the wld of professional ganizations, netwking, and resources. Most of these ganizations have special sections of their websites dedicated to student needs. Institute of Management Accountants (IMA) The IMA is the leading professional ganization devoted exclusively to management accounting and financial management. Its goals are to help members develop both personally and professionally through education, certification, and association with other business professionals. The IMA also runs the Certified Management Accountant (CMA) certification program. The CMA is recognized globally as a credential signaling a high level of technical and management skills necessary to be a cpate accountant. Student membership = $39 (full membership = $195) 8

12 American Institute of CPAs (AICPA) The AICPA is the national, professional ganization f all Certified Public Accountants. Its mission is to provide members with the resources, infmation, and leadership that enable them to provide valuable services in the highest professional manner. In fulfilling its mission, the AICPA wks with state CPA ganizations and gives priity to those areas where public reliance on CPA skills is most significant. Only students residing in the U.S. are eligible f student membership. Student membership is free at beginning September (full partner membership - $395). Infmation Systems Audit and Control Association (ISACA) ISACA is a global ganization addressing the needs of IS audits both internal to ganizations and external (public accountants, regulats). ISACA runs the Certified Infmation System Audit (CISA) certification program. ISACA has lots of materials on internal controls and auditing. Student membership = $25 (full membership = $130). Montana Society of CPAs The MSCPA is the statewide professional ganization of certified public accountants. With over 1500 members, the Society is divided geographically into eight chapters. Nearly 70 percent of the certified public accountants in the State of Montana belong to MSCPA. The MSCPA is an active suppter of accounting students across the state and sponss a number of scholarships. The last few years, a group of Montana accounting firms have sponsed a program that offers free student membership in the MSCPA. To become a student member, go to and click on Student Section on the left-hand menu bar. (full professional membership = $275) 9

13 The Accounting Profession has many additional designations and opptunities beyond becoming a CPA f example: June 8, 2009 Sponsing Low High CPA Student Memberships Online Career Center & Job Designation Organization Web-site Salary * Salary * Required available Searches Offered Employment possibilities CISA ISACA $46,750 $127,000 $25 IS Program Manager Certified Infmation Systems Audit Security Consultant Infmation Systems and Control Association IT Security Specialist CISM ISACA $46,750 $127,000 $25 Infmation Security Direct Certified Infmation Security Manager Infmation Security Analyst Infmation Systems and Control Association Infmation Assurance Officer CITP AICPA $46,750 $127,000 $35 Security Engineer Certified Infmation Technology Professional IT Audit American Institute of Certified Public Accountants Technology & Security Risk Services CFE ACFE $58,500 $92,750 $25 Fraud Investigat Certified Fraud Examiner Law Enfcement (IRS, FBI...) Association of Certified Fraud Examiners Fensic Accountant CFF AICPA $58,500 $92,750 $35 Fensic Audit Certified in Financial Fensics Litigation Suppt Services American Institute of Certified Public Accountants Fensic Technology Manager CFFA NACVA $58,500 $104,250 $125 Risk Manager Certified Fensic Financial Analysts Incident Response Analyst National Association of Certified Valuation Analysts Security Engineer Cr.FA ACFEI $58,500 $92,750 Computer Fensic Manager Certified Fensic Accountant Evidence Technician American College of Fensic Examiners Compliance Direct CIA IIA $41,500 $114,750 $35 Audit Specialist Certified Internal Audit Seni Audit Institute of Internal Audits Financial Audit Manager ABV AICPA $41,000 $96,000 $35 Accountant/Financial Analyst Accredited in Business Valuation Appraiser American Institute of Certified Public Accountants Litigation Suppt Services CVA NACVA $41,000 $96,000 $125 Valuation Manager Certified Valuation Analysts Claims Specialist National Association of Certified Valuation Analysts Transaction Advisy Services CMA IMA $33,500 $96,750 $39 Cpate Officer (CEO, CFO ) Certified Management Accountant Accounting Manager Institute of Management Accountants Finance Direct CGFM AGA $35,250 $103,000 $30 Internal Revenue Agent Cettified Governmental Financial Manager Financial & Tax Analysts Advancing Governmental Accounting Regulaty Repting Manager * Robert Half, 2009 Salary Guide, Accounting & Finance, Cpate Accounting 10