Accounting Program Group Advising Michael Eames May 4-5, 2015
CPA Licensing update Students who apply for a California CPA license need to meet the following requirements: A bachelor s degree in any discipline, 45 units of accounting, 57 units of general business and accounting-related courses, 15 units of ethics, a total of 225 quarter credits of education, 1 year of experience working for a CPA, and pass the CPA exam.
CPA Licensing Your University Core, Business Core, and Accounting and AIS major classes will satisfy these content requirements, with the following exceptions. Exceptions: AIS Majors will need to take at least one additional accounting class to reach the 45 units in accounting. Both accounting and AIS majors will need 15 units of ethics.
More on Ethics Requirement Audit can qualify as either ethics or accounting but not both. According to the legislation Body of text audit units can count for ethics. Footnote only 1 unit of audit can count for ethics. Word from the Board up to 5 units of audit can count for ethics. Business Law counts as either ethics or business, not both. Mgmt. 6 counts as ethics.
More on Ethics Requirement Any class with the following words in the title: Business Law, Corporate Governance, Ethics, Morals, Fraud, Organizational Behavior, Human Resource Management, Management of Organizations, Business Government & Society, Leadership, Legal Environment of Business, Professional Responsibilities, Corporate Social Responsibility. You can count one religion, philosophy, or theology class as ethics if the title includes one of the following. fundamentals of principles of survey of foundations of None of the above is to be considered definitive. Things can change. It s complicated.
More on Ethics Requirement The California Board of Accountancy maintains a list of schoolspecific classes that have been approved to meet the ethics requirement, but has not made this list public. You can call and they will inform you if a class meets the requirement. You will need at least 4 units of a class containing the terms 'Accounting Ethics' or 'Professional Responsibilities". This can be part of the 15 required ethics units. ACTG 144 Accounting Ethics (5 units) We will offer two sections in Winter 2016. We will offer one section in Spring 2016.
Resources on our Accounting Dept. website Resources to help you with licensing planning and tracking your progress are on our Accounting Department website. Click this image and you will get the following three.
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
Required Upper Division Accounting Courses ACTG 130 Intermediate Accounting I (Junior) Best taken in the fall of your junior year (3 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)
Elective Courses Upper division electives ACTG 140 Nonprofit and Govt. Accounting not next year ACTG 142 Business Law ACTG 148 Advanced Tax ACTG 150 Forensic Accounting ACTG 151 Financial Statement Analysis not next year Lecture series (2 units each, can be taken 4 times for 8 units) ACTG 161/171 fall lecture series (juniors and seniors) ACTG 162/172 winter lecture series (juniors and seniors) Independent studies ACTG 194 Tutoring (1 or 2 units per quarter) ACTG 198 Internship experience (up to 10 units)
Schedule of upper division accounting classes 2015-16 Course Units Prerequisites Fall Winter Spring Required Financial Accounting Classes 130 5 Intermediate I 11,12,20,96 units 3 1 131 5 Intermediate II 130 3 1 132 5 Advanced Financial 131 2 2 Other Required Accounting Classes 134 5 Actg. Info. Syst. (See Note 1&3) 11,12 2 2 135 5 Audit 131 1 3 136 5 Cost 130 2 2 138 5 Tax 11,12 2 2 Electives 142 5 Business Law for Accountants 131 1 1 150 5 Financial Fraud: Detection and 131 1 1 Investigation 144 5 Accounting Ethics 2 1 Electives 161 2 Junior Seminar Series 1 12, 20 1 162 2 Junior Seminar Series 2 12, 20 1 171 2 Senior Seminar Series 1 Sr. ACTG major 1 172 2 Senior Seminar Series 2 Sr. ACTG major 1 198 1-10 Internship (summer) Notes: 1) Accounting majors may use ACTG 134 to satisfy the information systems requirement of the LSB core. 2)Students are encouraged to consider taking ACTG 138 or ACTG 134 in their sophomore years, after completion of ACTG 11 and 12.
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. Be aware that taking classes after you start working is a killer and you may not even get hired without the 225.
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 get them on a junior college transcript. Take the CPA exam soon after graduating, and before you start working. You often get a bonus from the employer. Studying for the CPA exam while working is tough.
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.
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 Spring Quarter Prepares sophomores for Summer Leadership Program interviews
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.
Recruiting - General Sophomores recruit for summer externships in the Spring 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 21. 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!
Recruiting Summer Externship For Sophomores On campus interviews for summer externships are in Spring. 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 18. 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 November 20, 2015.
Fall Recruiting for Summer Internships For Juniors Invitations for Fall quarter in-house interviews for summer internships and summer internship offers can not be made until all on-campus interviews by all firms have be completed at 10:00 a.m. on October 23, 2015. The resulting summer internship offers can not expire before 5:00 p.m. on November 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 If you interview in the Spring, firms are permitted to make an internship offer after 10 a.m. on August 18 th, 2015. Firms can make internship offers at any time after an interview in Dec./Jan. Internship offers to study abroad students must remain open until at least 5:00 p.m. on January 30 th 2016. Study abroad students should submit their resumes to Bronco Link on the same timeline as students who are in residence here. Watch BroncoLink and look for job postings that indicate that they are for study abroad students.
Recruiting - Seniors with Summer Internships Job offers can be extended during and after summer internships. The offers can have expiration dates before November 20, 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 November 20. The student must inform the Melissa Sims and the Department Chair of any such request.
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 after all on-campus interviews have been completed, i.e., 10:00 p.m. on October 23, 2015. Offers stemming from Fall recruiting can have expiration dates before November 20, 2015, 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 November 20. The student must inform the Melissa Sims and the Department Chair of any such request.
Recruiting - Diversity Students Freshmen and Sophomores only Interview for summer internships in the Spring. Offers can not be extended until after the on-campus interview period has been completed.
Recruiting - Student Responsibilities Don t miss a scheduled interview. 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.
Recruiting - Student Responsibilities Situations where you need to notify the Accounting Department Chair. 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. Bad behavior reflects on you, the school, and all future students. Firm reps. talk- bad behavior towards a single firm gets shared amongst them.
Meet-The Firms Night Event information Sept. 29, 2015. 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
Issues for next year s Sophomores Good classes to take in Spring Quarter ACTG 20 ACTG 134 (Accounting Information Systems) This class no longer requires Junior or Senior status ACTG 138 (Tax) This class no longer requires 130 and 131 Both these require only ACTG 11 and ACTG 12 as prerequisites. ACTG 12 can be taken concurrently.
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.
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 554-4318 to make the appointment.
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.
Cal CPA Society Become a member. It is free to students before you receive your degree. Lots of information CPA exam Licensing Resume builder
Final Issues Stay in touch Check your SCU email If you haven t filled out the form to enable us to share your contact information with recruiters, see Melissa to do so. Get your name on the sign in sheet and we will release your advising hold. Questions?