MICHIGAN TECHNOLOGICAL UNIVERSITY
SCHOOL OF BUSINESS AND ECONOMICS
PROPOSAL FOR AN ACCELERATED MASTER’S DEGREE PROGRAM
1)
BS in ACCOUNTING/MS in ACCOUNTING
2)
BS in FINANCE/MS in ACCOUNTING
3)
BS in MANAGEMENT INFORMATION SYSTEMS/
MS in ACCOUNTING
Rationale
1.
Support the Strategic Plan for the University
Goal 3.1 in the proposed Strategic Plan for the University calls for a growth in
research and graduate education. This goal is quantified in the “Portrait of
Michigan Tech 2035” which projects 3,000 graduate students, a
“significant proportion of [which] will be enrolled in 5 year accelerated masters
programs or take on-line degree options.” (Portrait of Michigan Tech 2035, Point
2 in Narrative)
The MSA program will help the University achieve its Strategic Plan and meet
projected enrollment goals by expanding graduate program offerings and
increasing graduate student enrollment.
2.
Allow accounting majors to earn a master’s degree at MTU when fulfilling
the CPA 150 credit hour requirement
In order to obtain a Certified Public Accountant (CPA) license, a student must
have earned at least 150 credit hours, which includes a required number of credit
hours in accounting. While it is not necessary to hold a master’s degree to sit for
the CPA exam, students realize greater market utility by completing a master’s
program to fulfill the 150-hour requirement as opposed to merely taking
additional undergraduate level courses or double-majoring.
Furthermore, an accelerated BS/MS in Accounting offering would allow
undergraduate accounting students to complete a five year program at MTU as
opposed to attending a graduate program elsewhere. Nearly all AACSB
accredited accounting programs have a 5 year offering that allows students to
obtain a BS/MS in Accounting.
3.
Allow finance and management information system (MIS) majors to earn a
master’s degree in accounting at MTU
Numerous AACSB-accredited schools offer students the ability to double-major
in Accounting/Finance or Accounting/MIS. In addition, many such schools
combine the accounting and MIS areas into a single department. An accelerated
MS in Accounting offering would allow Finance or MIS students to acquire an
advanced degree as opposed to merely double-majoring at the undergraduate
level. Students majoring in Finance or MIS as undergraduates will have the
opportunity to acquire additional knowledge and a skillset necessary to being
careers in professional service firms, corporate entities, and the public sector.
These students may select a course of study to also sit for the CPA exam, similar
to undergraduate accounting majors.
4.
Employment Projections in Accounting; Master’s Degree vs. Bachelor’s
Degree
From 2008-2018, a 22% increase in accounting employment positions is
projected. (United States Bureau of Labor Statistics Occupational Outlook
Handbook)
In 2010, 37% of new hires by CPA firms held a master’s degree; up from 26%
and 14% in 2008 and 2000, respectively. (AICPA 2011 Trends in the Supply of
Accounting Graduates and the Demand for Public Accounting Recruits)
New hires by CPA firms of applicants holding only an undergraduate degree
decreased from 56% to 40% between 2008 and 2010. (AICPA 2011 Trends in the
Supply of Accounting Graduates and the Demand for Public Accounting Recruits)
Starting salaries for graduates with master’s degrees are 10-20% higher than those
with only undergraduate degrees. (AICPA 2011 Trends in the Supply of
Accounting Graduates and the Demand for Public Accounting Recruits)
By 2018, it is estimated that 21% of all employees in Professional and Business
Services will have attained a master’s degree, up from 16% in 2008. (Georgetown
University Center on Education and the Workforce, Projections of Jobs and
Education Requirements through 2018)
Goals and Objectives
•
Develop an integrated BS/MS degree program that furthers the strategic plan of
the SBE and University
•
Provide high achieving undergraduate accounting students an accelerated path to
obtaining a coursework only master’s degree, meeting the 150 CPA requirement
and increasing potential for employment and subsequent advancement in their
professional careers
•
Allow undergraduate students in finance and management information systems to
acquire additional knowledge and a skillset while earning an advanced degree as
opposed to double-majoring
Guidelines
•
Only students who intend to earn a BS in Accounting, Finance, or Management
Information Systems and a MS in Accounting at MTU are eligible to be accepted
into the accelerated program.
•
Students with an overall GPA of 3.0 or higher can apply for admission to the
accelerated program any time upon attaining junior class standing.
•
To be accepted into the accelerated program, students must apply to and be
accepted into the Graduate School at MTU. Applications will be reviewed by the
Accounting Graduate Admissions Committee. Students must be undergraduate
accounting majors at MTU and have earned a minimum cumulative 3.2 GPA in
the following courses to be accepted into the accelerated program:
ACC 2000
ACC 2100
ACC 3000
ACC 3100
Accounting Principles I
Accounting Principles II
Accounting Theory & Practice I
Accounting Theory & Practice II
•
Once admitted, students must maintain an overall GPA of 3.0 or higher to remain
in good standing. Students whose overall GPA falls below 3.0 will be removed
from the accelerated program.
•
Students in the accelerated program must work with the Accounting Academic
Advisor to ensure that coursework is taken in an appropriate manner to earn the
BS in Accounting, Finance, Management Information Systems/MS in
Accounting.
•
Students may apply the up to six (6) credit hours earned in the following courses
to double count toward both the undergraduate and master’s degree:
ACC 4100
ACC 4800
FIN 4000
MIS 4100
•
Attestation & Assurance
Accounting Systems
Investment Analysis
Information Systems Projects
Students in the accelerated program wishing to take graduate level courses under
the “Senior Rule” may do so up to a maximum of 6 credits.
•
Students in the accelerated program will be considered undergraduates for the
purposes of class standing, tuition, and financial aid until their BS degree has
been awarded.
•
Upon award of the BS degree, students in the accelerated program will be
considered graduate students for the purposes of class standing, tuition, and
financial aid.
•
Students in the accelerated program must earn the MS in Accounting within 5
years of having been accepted into the program.
•
Students who have previously earned an undergraduate accounting degree at
MTU or elsewhere are not eligible to be accepted into the accelerated program.
Such students can seek entry into the MS in Accounting program and must meet
the necessary requirements for admission.
Accelerated Program Credit Hour Degree Requirements
1) BS/MS in Accounting
BS in Accounting
123 credit hours + 3 credit hours of co-curricular activities
MS in Accounting
30 credit hours (6 credits from the BS in Accounting degree may
also be applied toward the MS in Accounting degree; therefore,
students in the accelerated program effectively complete 24 credit
hours)
CPA 150 Credit Hour Requirement
BS in Accounting
Co-Curricular Activities
MS in Accounting
123 credit hours
3 credit hours
24 credit hours
Total 150 credit hours
2) BS in Finance/MS in Accounting
BS in Finance
120 credit hours + 3 credit hours of co-curricular activities
MS in Accounting
30 credit hours (6 credits from the BS in Accounting degree may
also be applied toward the MS in Accounting degree; therefore,
students in the accelerated program effectively complete 24 credit
hours)
CPA 150 Credit Hour Requirement
BS in Finance
Additional Coursework
Co-Curricular Activities
MS in Accounting
120 credit hours
3 credit hours*
3 credit hours
24 credit hours
Total 150 credit hours
3) BS in Management Information Systems/MS in Accounting
BS in MIS
120 credit hours + 3 credit hours of co-curricular activities
MS in Accounting
30 credit hours (6 credits from the BS in Accounting degree may
also be applied toward the MS in Accounting degree; therefore,
students in the accelerated program effectively complete 24 credit
hours)
CPA 150 Credit Hour Requirement
BS in Finance
Additional Coursework
Co-Curricular Activities
MS in Accounting
120 credit hours
3 credit hours*
3 credit hours
24 credit hours
Total 150 credit hours
*Additional Coursework – only required if a Finance or MIS student wants to meet the
150 credit hour requirement to sit for the CPA exam.