Accounting Program Group Advising. Yongtae Kim May 2-3, 2016
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1 Accounting Program Group Advising Yongtae Kim May 2-3, 2016
2 CPA Licensing update Students who apply for a California CPA license need to meet the following requirements (in quarter units): A bachelor s degree in any discipline, 45 units of accounting, 57 units of general business and accounting-related courses, 15 units of ethics (with minimum 4 units of accounting ethics), a total of 225 quarter credits of education, 1 year of experience working for a CPA, and pass the CPA exam.
3 CPA Licensing Your University Core, Business Core, and Accounting and A&IS major classes will satisfy these content requirements, with the following exceptions. Exceptions: A&IS Majors will need to take at least one additional accounting class to reach the 45 units in accounting. ACTG155 and OMIS 150 (Financial Information Systems) are cross-listed. If you register for ACTG 155 instead of OMIS 150, you don t need to pick up one additional accounting class. Both accounting and A&IS majors will need 15 units of ethics (with minimum 4 units of accounting ethics).
4 More on Ethics Requirement Students in the classes of 2017 and later will satisfy ethics requirement (4 units of accounting ethics and 11 units of other ethics) via: 1) MGMT 6 or PHIL 6 (Business Ethics) 4 units 2) BUSN 85 (Business Law) 4 units 3) MGMT 160 (Management of Organizations) 5 units 4) ACTG 144 (Accounting Ethics) 5 units We offer ACTG 144 Accounting Ethics (5 units) as an elective. We will offer one section in Fall We will offer one section in Winter Winter ACTG 136 and ACTG 144 have overlapping class times. If you want to take ACTG 144 in the winter quarter, you must take ACTG 136 in the fall, and vice versa. You can take ACTG 136 and ACTG 144 together in the fall.
5 Resources on our Accounting Dept. website Resources to help you with licensing planning and tracking your progress are on our Accounting Department website. Under Life After SCU click on CPA Information Requirements List & Checklist CPA Exam Requirements List CPA Exam Requirements CheckList
6 Required Lower Division Accounting Courses ACTG 11 Intro to Financial Accounting (Soph) ACTG 12 Intro to Managerial Accounting (Soph) ACTG 20 Reporting Financial Transactions (Soph) Best taken in the spring of your sophomore year
7 Required Upper Division Accounting Courses ACTG 130 Intermediate Accounting I (Junior) Best taken in the fall of your junior year (2 sections are available) Study abroad students have priority for the single winter quarter section ACTG 131 Intermediate Accounting II (Junior) ACTG 132 Advanced Accounting (Junior/Senior) ACTG 134 Accounting Info Systems (Any year) ACTG 135 Auditing (Junior/Senior) ACTG 136 Cost Accounting (Senior) We recommend taking Finance 121 before this class. ACTG 138 Income Tax (Any year)
8 Elective Courses Upper division electives ACTG 140 Nonprofit and Govt. Accounting not next year ACTG 142 Business Law for Accountants not next year ACTG 144 Accounting Ethics ACTG 148 Advanced Tax not next year ACTG 150 Forensic Accounting ACTG 151 Financial Statement Analysis Seminar series (2 units each, can be taken 4 times for 8 units) ACTG 161/171 fall Seminar series (juniors and seniors) ACTG 162/172 winter Seminar series (juniors and seniors) Independent studies ACTG 194 Tutoring (1 or 2 units per quarter) ACTG 198 Internship experience (up to 10 units)
9 Summer Internships If you want summer internship academic credit, up to 10 units, be sure to make an appointment to speak with Wendy Donohoe in the Drahmann Center. Call the Drahmann Center at to make the appointment.
10 Schedule of upper division accounting classes Course Units Prerequisites Fall Winter Spring Required Financial Accounting Classes Intermediate I 11,12,20*,96 units Intermediate II Advanced Financial Other Required Accounting Classes Accounting Information Systems 11,12* Audit 131* Cost Tax 11,12* unit Electives Accounting Ethics 11, 12, (PHIL 6 or MGMT 6) Financial Fraud: Detection and Investigation Financial Statement Analysis 11, (FNCE 121 or 121s) 1 Other Electives Junior Seminar Series 1 12, 20* Junior Seminar Series 2 12, 20* Senior Seminar Series 1 Sr. ACTG or A&IS major Senior Seminar Series 2 Sr. ACTG or A&IS major Internship (summer) Notes: 1) Accounting majors may use ACTG 134 to satisfy the information systems requirement of the LSB core 2) ACTG155 and OMIS 150 are cross-listed. A&IS majors can take ACTG155 instead of OMIS150 to fulfill major requirements. 3) Students are encouraged to consider taking ACTG 134 or ACTG 138 in their sophomore years. 4) Winter ACTG 136 and ACTG 144 have overlapping class times. If you want to take ACTG 144 in the winter quarter, you must take ACTG 136 in the fall, and vice versa. 5) * courses may be taken concurrently.
11 Your Strategy Make sure you fulfill the specific education requirements. Get 225 units This is equivalent to 5 years of education Our students can get this in 4 years. Take extra units every quarter and start early. You need to overload But not so much that your grades suffer Everything on a college transcript counts. Most accounting firms will not allow students to begin work if they do not meet the 225 hour requirement.
12 Your Strategy 225 units (Continued). Keep in mind the availability of internship credits, credits for peer advising and tutoring, and the accounting electives. AP classes count so long as they make it to a college transcript. If they don t make it to your Santa Clara transcript then it may be possible to get them on a junior college transcript. Take the CPA exam soon after graduating, and before you start working. Studying for the CPA exam while working is tough. You often get a bonus from the employer.
13 Peer Advising The Business School s Peer Advising Group has accounting specialists. They can help you with course selection, timing of classes, getting to the 225 units, licensing issues, recruiting, etc. Walter Yu Kate Laughton Elaina Obradovich Damon Bollens
14 SCU Accounting Association You should join this group Prepares students for the transition between school and career (and have fun!) Organizes events and activities Brings students and professionals together Fall Quarter Prepares juniors and seniors for on-campus interviews Meet the Firms, mock interviews, resume critique, recruiting tips Sophomores are welcome at many events Winter Quarter Prepares sophomores for Summer Leadership Program interviews
15 The Job Market The job market in Silicon Valley is hot!! Firms are vying for our top students. Be one. Markets elsewhere are variable and often not as good as the Valley. If you wish to work in another city, let the recruiters know. They are happy to help you.
16 Recruiting - General Sophomores recruit for summer leadership programs (externships) in the Winter Juniors and Seniors recruit in the Fall. Juniors (current sophomores) for summer internships Seniors (current juniors ) for real jobs All attend the Accounting Awards Night on May 19. You and the recruiters can have conflicting objectives. Recognize this in the recruiting process. Do your homework, talk to many firms, and seriously consider all your options. Don t go in with blinders on!
17 Recruiting Rules We have recruiting rules to protect students from being forced to make decisions without adequate time and to prevent students from feeling undue pressure from recruiters We (the faculty) are available in case you feel pressure from any firm or you feel that a firm is violating recruiting rules We can intervene on your behalf to make sure you have enough time to make your decision. We are here to help you and protect you in this process.
18 Recruiting Summer Externship For Sophomores On campus interviews for summer externships are in Winter. Externships take place in the summer. Internship Offers Firms are not permitted to make implicit or explicit offers for summer internships to follow the externships prior to the completion of all summer externship programs. We anticipate that this will be on August 19 (?). (Aug. 17 in 2015) If you receive an offer for a subsequent summer internship after your summer externship, the offer must stay open until at least 5:00 p.m. on Friday before Thanksgiving (November 18, 2016).
19 Fall Recruiting for Summer Internships For Juniors Invitations for Fall quarter in-house interviews (also called second-round interviews ) for summer internships and summer internship offers can not be made until 10:00 a.m. on the second business day after the last on-campus interview. The resulting summer internship offers cannot expire before 5:00 p.m. on Friday before Thanksgiving (November 18, 2016).
20 Recruiting & Study Abroad Juniors often study abroad in the Fall Summer internship interviews occur in the Fall If you are studying abroad in the Fall Recruiters may interview study-abroad students in the Spring. If you interview in the Spring, firms are permitted to make an internship offer after 10 a.m. on August 19 (?), (Aug. 17 in 2015) Watch BroncoLink and look for job postings that indicate that they are for study abroad students. Internship offers to study abroad students must remain open until at least 5:00 p.m. on the last Friday of January (January 27, 2017). Students studying abroad in the fall quarter should submit their resumes to Bronco Link on the same timeline as students who are in residence here. Study abroad students can interview while they are abroad or upon their return to campus.
21 Recruiting - Seniors with Summer Internships Job offers can be extended during and after summer internships. The offers can have expiration dates before Friday before Thanksgiving (November 18, 2016), however: If a student requests an extension on an earlier expiration date, the firm is expected to comply with a request for an extension of the expiration date to as late as 5:00 p.m. on Friday before Thanksgiving (November 18, 2016). The student must inform the Mandy Ferrero or Professor Michael Calegari (SCUAA advisor) of any such request.
22 Recruiting Seniors General Students not having internships and those who have not accepted an offer after an internship can participate in general Fall recruiting. Invitations for Fall quarter in-house interviews and job offers can not be extended until 10:00 p.m. on the second business day after the last on-campus interview. Offers stemming from Fall recruiting can have expiration dates before Friday before Thanksgiving (November 18, 2016), however: If a student requests an extension on an earlier expiration date, the firm is expected to comply with the requested expiration date extension to as late as 5:00 p.m. on Friday before Thanksgiving (November 18, 2016). The student must inform the Mandy Ferrero and Professor Michael Calegari of any such request.
23 Recruiting - Diversity Students First-year students and Sophomores only Interview for summer internships in the Winter or Spring. Offers can not be extended until after the on-campus interview period has been completed.
24 Recruiting - Student Responsibilities Don t miss a scheduled interview. Students should also not miss scheduled resume critiques and mock interviews. Return phone calls and communications from the firms. Once you have accepted an offer you must stop participating in the recruiting process. Cancel scheduled interviews with other firms. Notify firms that you are not accepting your other outstanding offers. Notify firms where you have interviewed that you are no longer available.
25 Recruiting - Student Responsibilities Bad behavior reflects on you, the school, and all future students. Firm reps. talk- bad behavior towards a single firm gets shared amongst them. Situations where you need to notify the Accounting Department (Mandy Ferrero or Professor Michael Calegari (SCUAA faculty advisor)). Undue pressure from the firms. Firms pursuing you after you have informed them you have accepted another offer. Offers extended before the open periods. You request an extension to an offer expiration date.
26 Meet-The Firms Night Event information Sept. 29, You must buy a ticket from an Accounting Association officer Locatelli Center Purpose An opportunity for students to interact with recruiters before on-campus interviews. Size of event Typically 30 firms with lots of reps. each Who should attend? All juniors who have yet to accept an internship. All seniors who have yet to accept a job. Preparing for the event Business attire Look up firm info on their websites Have a good-looking resume for the resume book
27 Issues for next year s Juniors Two key courses to complete in your junior year Intermediate Accounting I Intermediate Accounting II Why so important? CPA firms consider your grades in these two classes when making or finalizing job offers. These courses are prerequisites for many other classes.
28 Passing the CPA exam 40% of those sitting for the exam never pass the exam. You don t belong in this group. Pass rates typically decline with time after graduation. Take it as soon as feasible after graduation, get your bonus for passing, and become a CPA.
29 Cal CPA Society Become a member. It is free to students before you receive your degree. Lots of information CPA exam Licensing Resume builder
30 Final Issues Stay in touch Check your SCU If you haven t filled out the form to enable us to share your contact information with recruiters, see Mandy to do so. Get your name on the sign in sheet and we will release your advising hold. Questions?
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