Accounting Program Group Advising. Michael Eames May 4-5, 2015

Accounting Program

Group Advising

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

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.

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.

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

More on Ethics Requirement

 The California Board of Accountancy maintains a list of

school-specific 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.

Resources on our Accounting Dept. website

 Resources to help you with licensing planning and tracking

your progress are on our Accounting Department website.

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)

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.

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)

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

Investigation 131 1 1

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:

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

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.

Peer Advising

 The Business School’s Peer Advising Group has accounting

specialists.

 They can help you with course selection, timing of classes,

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

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

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

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.

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

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 18th_{, 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 30th _2016.

– Study abroad students should submit their resumes to Bronco Link on the same timeline as students who are in residence here.

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.

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.

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

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.

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

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

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.

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.

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

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

Cal CPA Society

 Become a member.

 It is free to students before you receive your degree.

 Lots of information –

– CPA exam

– Licensing

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.