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The UWM Plan for Accountants

The UWM Plan for Accountants offers a true Masters-level experience that blends experience and career choice with education. With a choice of assurance or tax specialty, the program includes the ability to study abroad through the EY program, and several sources of financial support. The program also offers access to faculty, including the CPA in Residence and Career Services, and common courses and electives in both assurance and taxation tracks. The program prepares students for the CPA Exam and provides resources for interviewing for full-time positions.

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The UWM Plan for Accountants

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  1. The UWM Plan for Accountants • Blending experience and career choice with education • A True Masters level experience to serve as a professional foundation – totally coordinated with BBA • Four Part Pass on CPA Exam • Choice of Assurance or Tax Specialty • Ability to study abroad – EY Program • Several sources of financial support

  2. Our Resources • Faculty you have not met - Kimmel, Abbott, Daugherty, Dean, Schadewald • CPA in Residence – Terri Desris • Career Services – part time, internships, full time. “Accounting Night” • Graduate Advising – they help you construct program “no room for error”

  3. MS-PA Common Courses • 724 Consolidations and Governmental (Fall D/Spring N) • 821 Business Taxation (Summer D, Fall D, Spring N) • 753 Advances Business law ( Winter N, Spring N, Summer N) • 840 Current Issues (Fall D, Spring N) • 844 Auditing, Prof. Standards and Practice (Spring D)

  4. Assurance Track • 841 Financial Statement Analysis (Spring D) • 723 Forensic accounting (Fall D) • 720 Auditing in Computerized Environment (Spring D) • Two electives from • EY Giessen International Summer Course • Approved Elective List

  5. Assurance Track Electives

  6. Course Layout: Financial (a)

  7. Course Layout: Financial (b)

  8. Taxation Track • 820 Tax Research (FN) • 823 Corporate Income Tax (SN) • 826 Tax Planning for Individuals (FN) • 828 Taxation of Partnerships, S Corps, LLC’s (SN) • One elective from • 834 International Taxation (FN) • 841 Financial Statement Analysis (Sp Day) • 726 International Accounting (Germany Option) • Assurance Track Elective

  9. Course Layout: Taxation

  10. CPA Exam • Exam is year around “on demand” • 18 month window, no exams Mar/June/Sept/Dec • New non-accounting content (finance, economics, law) • Current format began in 2011 • IFRS • Research using FASB Codefication • New methods, rebalance topics, see www.cpa-exam.org

  11. And: the 2017 Model • The AICPA announced that it will be launching a new version of the Uniform CPA Exam on April 1, 2017. Professional content knowledge will remain fundamental to protecting the public interest, but newly licensed CPAs must also possess: • Higher-order cognitive skills, including critical thinking, problem solving and analytical ability • Professional skepticism • A thorough understanding of professional and ethical responsibilities • A strong understanding of the business environment and processes • Effective communication skills • In addition to these changes, the proposed CPA Exam will get longer, increasing from 14 to 16 hours to complete, and will be slightly more expensive. If you qualify to sit prior to the April 1, 2017 changes, we encourage you to do so.

  12. Interviewing for Full Time Position • Beware of the “Intern Trap” • You are not required to take post-intern offer • “Free Agents” interview in fall of Graduate School year. (limited wrap up in Spring) • Attend Accounting Night (and auction) September 20? • Interviews will be scheduled Oct - Nov • Big 4 will ask tax or audit? • Other CPA firms may offer blend • Industry typically only hires free agents • Want to leave Milwaukee? – if not in the works, plan on transfer later.

  13. Financial Support • TA’s apply by March 15, Interview about April 15. Apply at: uwm.edu/business/academics/graduate/assistantships • Tax TA’s have scheduling challenge • We will hire for accounting (201, 302, 301), finance, IT, Business 100 • Lubar scholarships due 6/15, notified after admission, information at: uwm.edu.edu/scholarships • Accounting scholarships. Notified by email early April. Decisions late April

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