UNIVERSITY
OF
1119 M a i n A d m i n i s t r a t i o n B u i l d i n g
College Park, M a r y l a n d 20742-5031
301.405.5252 TEL 301.405.8195 FAX
MARYLAND
OFFICE OF T H E SENIOR VICE PRESIDENT AND PROVOST
June 9,2015
MEMORANDUM
TO:
Alexander J. Triantis
Dean, Robert H. Smith School of Business
FROM:
Elizabeth Beise
Associate Provost for Academic Planning and Programs
SUBJECT:
Proposal to Establish a Combined Bachelor's/Master's Program in Accounting
(PCC log no. 14050)
At its meeting on May 1, 2015, the Senate Committee on Programs, Curricula and
Courses approved the proposal to establish a combined Bachelor's/Master's Program in
Accounting. A copy of the approved proposal is attached.
The change is effective Fall 2015. Please ensure that the change is fully described in the
Graduate and Undergraduate Catalogs and in all relevant descriptive materials, including the
program's four-year plan (contact Lisa Kiely at lkiely(g),umd.edu for more information), and that
all advisors are informed.
MDC/
Enclosure
cc:
Gregory Miller, Chair, Senate PCC Committee
Barbara Gill, Office of Student Financial Aid
Reka Montfort, University Senate
Erin Taylor, Division of Information Technology
Pam Phillips, Institutional Research, Planning & Assessment
Anne Turkos, University Archives
Linda Yokoi, Office of the Registrar
Cynthia Stevens, Office of Undergraduate Studies
Alex Chen, Graduate School
Joyce Russell, Robert H. Smith School of Business
T H E UNIVERSITY OF MARYLAND, C O L L E G E PARK
PROGRAM/CURRICULUM/UNIT PROPOSAL
• Please email the rest of the proposal as an MS Word attachmentPCC
to pcc-submissions^umd.edu.
LOG NO.
140 go
f Please submit the signed form to the Office of the Associate
Provost for Academic Planning and Programs, 1119 Main Administration Building, Campus.
College/School:
Please also add College/School Unit Code-First 8 digits: 01202900
Unit Codes can be found at: hllps://hvpprod. iimd. edw'Hlm -/
units.htm
Department/Program:
Please also add Department/Program Unit Code-Last 7 digits: 1291701
Reports/
Type of Action (choose one):
academic degree/award
program
• Curriculum change (including informal specializations) ^New
• New Professional Studies award iteration
• Renaming ofprogram or formal Area of
Concentration
• New Minor
• Addition/deletion offormal Area of
Concentration
• Other
• Suspend/delete
program
Italics indicate that the proposed program action must be presented to the full
University Senate for cons
Summary of Proposed Action: The Robert H. Smith School of Business (RHS) at the University of Maryland, College
Park (UMCP) proposes the creation o f a dual Bachelor's/Master's Program in Accounting. The proposed program would
enable promising students to obtain both their Bachelor's and Master's degrees from the University of Maryland College
Park in five years or less. In turn, this highly attractive program should augment the historic outstanding reputation of the
RHS as a center for accounting education and growing in reputation in research and attract outstanding students to both its
undergraduate and graduate populations. Current and prospective students would have the opportunity to combine their
accounting undergraduate degree with rigorous graduate training in accounting and taxation. The national tax office of some
major accounting firms and the headquarters of the Internal Revenue Service, the Government Accountability Office, the
Securities and Exchange Commission, and the Public Company Accounting Oversight Board are all in the Washington, D. C.
area. Thus, the lure o f coming to the Washington, D.C., area to obtain an undergraduate major in accounting and a Master of
Science in Accounting (MSA) from the highly-ranked RHS should prove compelling to many outstanding prospective
students.
A P P R O V A L SIGNATURES - Please print name, sign^aryi
1. Department Committee Chair
2. Department Chair
Stephen Loeb
Martin Loeb
3. College/School PCC Chair _Joyce Russell^~7
4. Dean
Alexander Triantis
5. Dean of the Graduate School (if required)
6. Chair, Senate PCC
7. University Senate Chair (if required)
8. Senior Vice President & Provost
date.
Usjzfadditional lines for
multi-u
DRAFT
UNIVERSITY OF MARYLAND COLLEGE PARK
Robert H. Smith School of Business
Proposal for a Dual Bachelor’s/Master’s Program in Accounting
I.
INTRODUCTION
The Robert H. Smith School of Business (RHS) at the University of Maryland, College Park (UMCP)
proposes the creation of a dual Bachelor’s/Master’s Program in Accounting. The proposed program
would enable promising students to obtain both their Bachelor’s and Master’s degrees from the
University of Maryland College Park in five years or less. In turn, this highly attractive program
should augment the historic outstanding reputation of the RHS as a center for accounting education
and growing in reputation in research and attract outstanding students to both its undergraduate and
graduate populations. Current and prospective students would have the opportunity to combine their
accounting undergraduate degree with rigorous graduate training in accounting and taxation. The
national tax office of some major accounting firms and the headquarters of the Internal Revenue
Service, the Government Accountability Office, the Securities and Exchange Commission, and the
Public Company Accounting Oversight Board are all in the Washington, D. C. area. Thus, the lure of
coming to the Washington, D.C., area to obtain an undergraduate major in accounting and a Master of
Science in Accounting (MSA) from the highly-ranked RHS should prove compelling to many
outstanding prospective students.
II.
COURSE OF STUDY
To earn a Bachelor’s degree at UMCP, students must complete 120 credits, fulfill the
University’s General Education requirements, and fulfill the requirements of a major1. (Some courses
can fulfill both General Education and a major requirement.) To earn the MSA, students must
complete 30 credits of graduate courses which include, depending on a student’s specialization, 22 or
16 credits of core courses, the remaining credits from accounting-related electives.2 To separately
earn both degrees, students must currently earn 150 credits. Under this proposal students will need a
minimum of 140 credits. Given the current design it is anticipated that students in this program will
1
2
Only Accounting majors are eligible for this program.
The audit specialty has 22 credits of core and the tax and general specialties have 16 credits of core.
1
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earn a minimum of 141 credits to earn both a BS in accounting and a MSA. Due to the Maryland
State Board of Accountancy’s regulation that recognizes that one graduate credit = 1.5 undergraduate
credits, students receiving the MSA degree will meet the Maryland State Board of Accountancy’s
150 hour requirement if they complete this program.
Students in the proposed program would complete a minimum of 140 credits, of which 120 would be
earned at the undergraduate level and 20 would be at the graduate level. Students would be required
to fulfill the same Bachelor’s degree requirements (including General Education and major
requirements) and the same MSA degree requirements as other students. Students could count up to
10 of their credits towards both their MSA and their Bachelor’s degrees although we anticipate most
students will only count 9 at this time.3 To illustrate how this program would work in practice, the
courses or types of courses a student might take in the auditing and tax specialties are listed in
Appendix A. The sample schedules in Appendix B show how a student in this program could
possibly complete both the BS and MSA requirements in 4.5 years (or even less time if they came in
with advanced placement credits). The sample schedule in Appendix B could also be planned so that
students can graduate in 5 years with both the BS and MSA degrees.
This proposed program would provide students with a highly effective education in liberal arts,
business, and accounting. In addition to gaining the key undergraduate skills and exposure to a wide
variety of disciplines required by the General Education program, students in their first four years
would, through their undergraduate accounting major, immerse themselves in general business
fundamentals. Students during their first four or three and one half years would take the traditional
undergraduate accounting courses including three graduate courses. In the graduate/last year of the
program the focus would change to learning at a graduate level in their specialty of accounting.
These specialties include auditing, taxation, or a general program that the student proposes to the
program’s academic director and Assistant Dean for Undergraduate Studies or their representatives.
Examples of courses of studies that a student wishing to take the general specialty might follow are
concentrations in management accounting, forensic accounting, or government accounting. We
believe, based on past experience, that an overwhelming number of students will opt for either the
3
The College of Behavioral and Social Sciences has a dual degree with the School of Public Policy. The MPP degree is a
54-credit program so in the combined program, students take 102 undergraduate credits and 54 graduate degree level
credits. Eighteen credits are double counted. The program allows students to obtain an undergraduate degree from BSOS
and an MPM degree.
2
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auditing or tax specialties, which prepare students for careers in auditing or tax and are closely related
to the CPA examination and in the case of the auditing specialty also for the Certified Internal
Auditing examination.
The program will provide opportunities for students to participate in non-credit internships at various
time periods.
III.
ADMISSION PROCESS AND CRITERIA
Students in their freshman and sophomore years would be eligible to become “affiliate members” of
the program. This would allow students to declare their interest in accounting, meet other
accounting-oriented students, and attend special accounting-relevant events. Students would apply
for formal admission to the program as early as the end of their sophomore year.
Admittance to the program would be limited to students with records suggesting a strong likelihood
of excelling in graduate studies and would be determined in multiple steps. The RHS faculty and
Graduate School would make an initial determination based on a student’s grades during his/her first
two years (i.e., after earning at least 60 credits), SAT or ACT scores, letters of recommendations, and
written statement(s). Most students admitted into the program would have a cumulative
undergraduate GPA of at least 3.5, either a SAT or ACT score in the 80th percentile or higher, and a
demonstrated interest in accounting. Students who were not admitted after their sophomore year
could reapply for admission to the program after their junior year.
Students who were initially admitted into the program at the end of their sophomore year would be
reevaluated after their junior year. If the students had maintained at least a 3.5 undergraduate GPA
(or if the RHS faculty felt their continuance in the program was otherwise warranted), they would be
permitted to proceed with their MSA graduate courses and would be told to expect admittance into
the Graduate School after completion of their BS requirements as long as they had continued to
achieve at least a 3.5 undergraduate GPA. The RHS faculty and Graduate School, however, could in
exceptional circumstances choose to admit students who did not meet this threshold. To be admitted
formally to the Graduate School, students admitted into the program would have only to first
complete their BS degree while maintaining at least the 3.5 undergraduate average. This multi-step
admission process is viewed to be the best way of providing students a clear-cut opportunity of being
admitted to the Graduate School after their BS studies are complete, while ensuring that students
3
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initially admitted into the program have every reason to diligently pursue their studies during their
remaining undergraduate years, continue to demonstrate an ability to excel academically, and are
truly prepared to succeed in their graduate studies.
Students who were not admitted into the program or were not able to maintain a 3.5 undergraduate
GPA would be free to apply to the regular MSA program pursuant to the usual application process
without prejudice.
IV.
FINANCIAL IMPACT
The proposed program per se is not expected to require significant additional financial resources.
While we expect the program to increase the number of exceptional students applying to both the
undergraduate program and to the MSA program, it is in the power of both programs to realize this
gain in the form of better qualified, rather than additional, students. Given the current targets for
undergraduate admissions, this would appear to be the likely outcome for the undergraduate program.
The strategic plan of the Robert H. Smith School of Business does not call for an increase in the
number of MSA students admitted into the program. Instead, its objective is to diversify the student
body of the MSA program, and attracting more UMCP undergraduates will significantly enable
achieving that objective. The Robert H. Smith School of Business will manage its admission
standards to realize the benefits of this program in the form of even better students.
4
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APPENDIX A
Dual Bachelor’s/MSA Course Requirements
BS/MSA Course Requirements
The discussion below considers only the auditing or tax specialties. Students wishing to take the
general specialty should design a program in conjunction with the Academic Director of the MSA
program and the Assistant Dean for Undergraduate Studies or their representatives. The program will
follow the same patterns developed below for the auditing or tax specialties. We believe, based on
past experience, that an overwhelming number of students will opt for either the auditing and tax
specialties, which prepare students for careers in auditing and tax and are closely related to the CPA
examination and in the case of the auditing specialty also for the Certified Internal Auditing
examination.
Accounting Major
University Requirements (that are not satisfied by Smith School requirements)
Academic Writing (ENG 101)
3
Natural Sciences*
7-8
Humanities*
6
Scholarship in Practice
3
Diversity Courses*
6
I-Series*
6
19 - 32 credits
Smith School Lower Level Core
Math (220, 130 or 140)
3-4
BMGT 110: Business Value Chain
3
BMGT 220: Principles of Accounting I
3
BMGT 221: Principles of Accounting II
3
BMGT 230 or 231: Business Statistics
3
ECON 200: Principles of Micro-Economics
4
ECON 201: Principles of Macro-Economics
4
COMM 100/107/200: Public Speaking
3
Electives (100 – 200 level)
3 - 17
30 - 43
62 total lower level credits
*Overlap permitted with (I-Series, Diversity, and Distributed Studies courses, must meet minimum of
40 credits completed for University requirements.
5
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Smith School Upper Level Core
BMGT 301: Intro to Info Systems
BMGT 340: Business Finance
BMGT 350: Marketing Principles
BMGT 364: Management & Org Principles
BMGT 367: Career Search Strategies in Business
BMGT 380: Business Law I
BMGT 495: Business Policies
Upper Level Electives
3
3
3
3
1
3
3
19 credits
9@
Major Requirements
BMGT 310: Intermediate Accounting I
BMGT 311: Intermediate Accounting II
BMGT 321: Managerial Accounting
BMGT 323: Taxation of Individuals
BMGT 326 Accounting Systems*
BUAC 765: Bus Ethics for Accts and Auditors+
BMGT 422: Auditing Theory and Practice
BUAC 780: Fin Statement Analysis for Accts and Auditors**
3
3
3
3
3
3
3
3
24 credits
Upper Level Economics Requirement
3 credits
Professional Writing
ENGL 391, 392, 393, 394, 395, or 398
3 credits
TOTAL CREDITS TOWARD BS
120 BS awarded
Masters of Accounting
Accounting Graduate Courses
20 additional credits–MSA awarded
GRAND TOTAL
140 credits
*
Students in the auditing specialty should take BUAC 790 (Information Security, Audit and Control) in
lieu of BMGT 326 (Accounting Systems).
**
Only students in the tax specialty should take BUAC 780 (Financial Statement Analysis for
Accountants and Auditors) as undergraduates. Students in the auditing specialty should take another
400- level undergraduate accounting course except for BMGT 411.
@
Students in the tax specialty should take BMGT 417 (Taxation of Corporations, Partnerships and
Estates) after completing BMGT 323 (Taxation of Individuals) as an upper level elective. All students
in the program take BUAC 792 (Forensic Accounting/Auditing) as an upper level elective.
+
Replaces BMGT 411 (Ethics and Professionalism in Accounting) for all students in the program.
6
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.APPENDIX B
Sample 4.5-Year Bachelor’s/Master’s Course Schedules
For Selected Smith Accounting Majors:
This sample curriculum sheet shows how the combined BS/MSA can be completed in 4.5 years. It
does not reflect the range of options that students might have in their bachelor’s programs.
Furthermore, students can take more or less than 4.5 years to finish this program depending on a
number of factors such as AP credits, summer school courses, and the course load a student carries.
Sample 4-Year BS/MSA Schedule with UG Major = Accounting
Freshman – Fall (Cumulative Credits: 16 Total)
Course
Credits
Requirements Met
ENGL 101
3
BS – Accounting
MATH 220/140/130
3
BS – Accounting
ECON 200
4
BS – Accounting
BMGT 110
3
BS – Accounting
Lower Level Elective
3
BS – Accounting
Freshman – Spring (Cumulative Credits: 32 Total)
Course
Credits
ECON 201
4
BMGT 230 or 231
3
COMM 100/107/200
3
Natural Science Non-Lab
3
Lower Level Elective
3
Requirements Met
BS – Accounting
BS – Accounting
BS – Accounting
BS – Accounting
BS – Accounting
Summer: Initial Decision Whether to Admit to Dual BS/MSA Program
Sophomore – Fall (Cumulative Credits: 49 Total)
Course
Credits
BMGT 220
3
Natural Sciences Lab
4
Humanities Course/Diversity
3
Scholarship in Practice/I-Series/Diversity 3
Lower Level Elective
3
BMGT 367
1
Sophomore – Spring (Cumulative Credits: 66 Total)
Course
Credits
BMGT 221
3
Humanities Course/I-Series
3
Lower Level Elective
3
7
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Requirements Met
BS – Accounting
BS – Accounting
BS – Accounting
BS – Distributive Studies/I-Series/Diversity
BS – Accounting
BS – Accounting
Requirements Met
BS – Accounting
BS – Accounting
BS – Accounting
Lower Level Elective
Lower Level Elective
Upper Level Economics
3
2
3
BS – Accounting
BS – Accounting
BS – Accounting
Summer: Provisional Admittance into Graduate School
Junior – Fall (Cumulative Credits: 84 Total)
Course
Credits
BMGT 310
3
BMGT 321
BMGT 301
BMGT 340
Professional Writing
BMGT 323
3
3
3
3
3
Requirements Met
BS – Accounting
BS – Accounting
BS – Accounting
BS – Accounting
BS – Accounting
BS – Accounting
Junior – Spring (Cumulative Credits: 102 Total)
Course
Credits
BMGT 311
3
BMGT 350
3
BMGT 364
3
BUAC 792b
3
d
3
Upper Level Elective
Upper Level Elective
3
Requirements Met
BS – Accounting
BS – Accounting
BS – Accounting
MSA/ BS – Accounting
BS – Accounting
BS – Accounting
Senior– Fall
Course
Credits
Requirements Met
BMGT 422
3
BS – Accounting
BMGT 380
3
BS – Accounting
BMGT 495
3
BS – Accounting
c
3
MSA/ BS – Accounting
BUAC 790
BUAC 765 Bus, Eth for Accts & Auditors+, b
3
MSA/ BS – Accounting
a, b
BUAC 780 Fin. Statement Analysis
3
MSA/BS – Accounting
Spring Receipt of BS, Formal Admittance to Graduate School
Senior/– Spring (Cumulative Credits: 120 Total)
Grad I -- Spring
Auditing Specialty
Course
(Cumulative Credits: 10 Total)
BUAC 786 Int. Audit: Conceptual & Inst. Framework
BUAC 784 Bus. Comm. For Accts. & Auditorsb
BUAC 782 Adv. Mgrl. Acct. & Control Systemsb
8
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Credits
3
2
3
Requirements Met
MSA
MSA
MSA
BUMO 794 Essentials of Negotiationb
Non-credit Internship
Grad II – Fall (Cumulative Credits: 21 Total)
BUMO 796 Leadership & Human Mgmt. for Acct & Auditorsb
BUAC 780 Financial Statement Analysisb
BUAC 787 Inte Aud II: Int Audit Appls & Pract.
Elective
2
MSA
3
3
3
2
MSA
MSA
MSA
MSA
2
3
2
2
2
MSA
MSA
MSA
MSA
MSA
2
2
2
2
2
MSA
MSA
MSA
MSA
MSA
Non-credit Internship
Grad I -- Spring
Tax Specialty
Course
(Cumulative Credits: 11 Total)
BUAC 784 Bus. Comm. For Accts. & Auditorsb
BUAC 782 Adv. Mgrl. Acct. & Control Systemsb
BUMO 794 Essentials of Negotiationb
BUAC 758 (Non-profit tax)
BUAC 758_ Real Estate Tax
Non-credit Internship
Grad II – Fall
(Cumulative Credits: 21 Total)
Course
BUAC 758_ Financial Planning, Estates and Trusts
BUAC 758_ International Tax
BUAC 758_ State and Local Tax
BUAC 758_ Tax Research
Elective
Non-credit Internship
---------------------------------------------a
Tax Specialty only take this course at this time
Core course
c
Auditing specialty only – other specialties take BMGT 326 (Accounting Systems)
d
Tax Specialists – take BMGT 417 (Taxation of Corporations, Partnerships and Estates) as an upper
b
level elective.
+
Replaces BMGT 411 (Ethics and Professionalism in Accounting).
9
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Michael D Colson
From:
Sent:
To:
Subject:
Mike Marcellino <mmarcellino@rhsmith.umd.edu>
Tuesday, April 14, 2015 11:40 AM
Michael D Colson
Re: BMGT PCC Proposals for Combined BS/MS Programs
Hi Mike,
Thanks for passing along the times for the meeting. I'm making arrangements to join a faculty representative.
As for your questions, I think they were just trying to show where the 9-10 (double counted) credits could be
taken. We are not requesting that the students take more than 10 as double counted credits. For example: With
accounting the courses vary based on whether the students are in the auditing track or the tax track. For each
group they will take a different set of courses.
If this needs to be clarified feel free to modify with additional text or let me know what you would like to add
and I can make the adjustment.
Thanks
Mike
Michael R Marcellino
Assistant Dean
MBA & MS Programs
Masters Programs Office
Robert H. Smith School of Business
2308 Van Munching Hall
University of Maryland
College Park, MD 20742-1815
(301) 405-0010 TEL
(301) 314-9862 FAX
mmarcellino@rhsmith.umd.edu
http://www.rhsmith.umd.edu
http://www.mbanetworth.rhsmith.umd.edu
On Fri, Apr 10, 2015 at 5:44 PM, Michael D Colson <mcolson@umd.edu> wrote:
Hi Mike,
I wanted to let you know that I have received your proposals to create combined BS/MS programs for
Accounting and Information Systems
1
Here are the files:
http://www.provost.umd.edu/ProgDocs/1415/14049_BMGT_BMGT_AddCombinedBachelorMasterInformationSystems.pdf
http://www.provost.umd.edu/ProgDocs/1415/14050_BMGT_BMGT_AddCombinedBachelorMasterAccounting.pdf
The steps in the approval route for this proposal are as follows:
1. Graduate PCC review (at the April 20th meeting)
2. Senate PCC review (at the May 1st meeting—assuming that the Grad PCC approves)
For the committee meetings, you will be contacted beforehand with a specific time (usually a 15-minute
window) for the presentation and discussion of the proposal. If there is a specific contact person for this
proposal, please let me know. The Grad PCC will meet from 10:30-12:00 on the 20th, and the Senate PCC
committee will meet from 8:30-10:00 on May 1.
Betsy and I reviewed both proposals and had some questions. It looks like in some cases you are asking to
double count 12 credits? This first image is on page 20 of the PDF for the Information Systems proposal:
The same seems to be the case for the Accounting proposal (this is taken from page 9 of the pdf):
2
Was this intentional?
I’ll be forwarding the proposal to the Graduate School today and they will be contacting you about scheduling a
time to meet on the 20th but if I need to revise the proposal I can.
Please let me know if you have any questions.
Thank you,
Mike
--Mike Colson
3