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Accounting Program Group Advising

Accounting Program Group Advising. Haidan Li May 7-8, 2019. Group Advising Agenda. Accounting Curriculum Class Schedule for 2019-2020 CPA Licensure Student Recruitment Q&A. Required Lower Division Accounting Courses. ACTG 11 – Intro to Financial Accounting ( Soph )

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Accounting Program Group Advising

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  1. Accounting ProgramGroup Advising Haidan Li May 7-8, 2019

  2. Group Advising Agenda • Accounting Curriculum • Class Schedule for 2019-2020 • CPA Licensure • Student Recruitment • Q&A

  3. 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

  4. Required Upper Division Accounting Courses • ACTG 130 – Intermediate Accounting I (Junior) • Best taken in the fall of your junior year • Study abroad students have priority for the 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)

  5. Elective Courses • Upper division electives • ACTG 140 – Nonprofit and Govt. Accounting – not next year • ACTG 142 – Business Law for Accountants – not next year • ACTG 144 – Accounting Ethics • ACTG 148 – Advanced Tax – not next year • ACTG 150 – Financial Fraud – not next year • ACTG 151 – Financial Statement Analysis (plan to offer once every two years) • Seminar series (2 units each, can be taken 4 times for 8 units) • ACTG 161/171 – fall Seminar series (juniors and seniors) • ACTG 162/172 – winter Seminar series (juniors and seniors) • Independent studies • ACTG 194 – Tutoring (1 or 2 units per quarter) • ACTG 198 – Internship experience (up to 10 units)

  6. 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. • Please book your appointment through the Drahmann Center’s website: https://www.scu.edu/drahmann/about/staff/donohoe.html • Make appointment before Memorial Day

  7. Schedule of upper division accounting classes 2019-2020 1. * courses may be taken concurrently. 2. Accounting majors may use ACTG 134 to satisfy the information systems requirement of the LSB core. 3. AIS majors may use OMIS 30 to satisfy the information systems requirement of the LSB core. 4. OMIS 150 is cross-listed with ACTG 155. A&IS majors can register for ACTG 155 instead of OMIS 150 to fulfill major requirements for CPA licensing. 5. Students are encouraged to consider taking ACTG 134 or ACTG 138 in their sophomore years.

  8. Schedule of other classes • ACTG 5 (Personal Financial Planning) will be offered in Spring 2020 • OMIS 150 (cross-listed with ACTG 155) will be offered in Winter 2020

  9. Electronic Waitlist and Google Form • In addition to the electronic waitlist, the Accounting Department will use a Google Form as an additional source of information to properly and fairly award permission numbers. Our goal is to ensure that every Accounting or A&IS student has an opportunity to enroll in at least one or two accounting classes every quarter. • In order to be considered for a permission number, you must meet the following criteria: 1) Declared Accounting or A&IS Major 2) Enrolled in less than two accounting classes 3) On the electronic wait list in eCampus for the course(s) you wish to enroll in

  10. CPA Licensing update • Students who apply for a California CPA license need to meet the following requirements (in quarter units): • A bachelor’s degree in any discipline, • 45 units of accounting, • 57 units of general business and accounting-related courses, • 15 units of ethics (with minimum 4 units of accounting ethics), • a total of 225 quarter credits of education, • 1 year of experience working for a CPA, and • pass the CPA exam.

  11. CPA Licensing • Your University Core, Business Core, and Accounting and A&IS major classes will satisfy these content requirements, with the following exceptions. • Exceptions: • A&IS Majors will need to take at least one additional accounting class to reach the 45 units in accounting. ACTG155 and OMIS 150 (Financial Information Systems) are cross-listed. If you register for ACTG 155 instead of OMIS 150, you don’t need to pick up one additional accounting class. • Both Accounting and A&IS majors will need 15 units of ethics (with minimum 4 units of accounting ethics).

  12. More on Ethics Requirement • Students will satisfy ethics requirement (4 units of accounting ethics and 11 units of other ethics) via: 1) MGMT 6 or PHIL 26 (Business Ethics) – 4 units 2) BUSN 85 (Business Law) – 4 units 3) MGMT 160 (Management of Organizations) – 5 units 4) ACTG 144 (Accounting Ethics) – 5 units • We offer ACTG 144 Accounting Ethics (5 units) as an elective. • We will offer two sections in Fall 2019. • We will offer one section in Spring 2020.

  13. Resources on our Accounting Dept. website • Resources to help you with licensing planning and tracking your progress are on our Accounting Department website. • Under “Life After SCU” click on “CPA Information” https://www.scu.edu/business/accounting/life-after-scu/cpa-information/ Requirements List & Checklist CPA Licensure Requirements List CPA Licensure Requirements Checklist

  14. 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. • Most accounting firms will not allow students to begin work if they do not meet the 225 hour requirement.

  15. 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 it may be possible toget them on a junior college transcript. • Take the CPA exam soon after graduating, and before you start working. • Studying for the CPA exam while working is tough. • You often get a bonus from the employer.

  16. Peer Advising • The Business School’s Peer Advising Group has accounting specialists. https://www.scu.edu/business/undergraduates/advising/lsb-peer-advising/ • They can help you with course selection, timing of classes, getting to the 225 units, licensing issues, recruiting, etc. Tristan Ross: tross@scu.edu Brady Smith: bsmith4@scu.edu Mikaela Wentworth: mwentworth@scu.edu Linda Wang: llwang@scu.edu

  17. SCU Accounting Association • 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 • Winter Quarter • Prepares sophomores for Summer Leadership Program interviews

  18. 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.

  19. Recruiting - General • Sophomores recruit for summer leadership programs (externships) in March • Juniors and Seniors recruit in the Fall. • Juniors (current sophomores) for summer internships • Seniors (current juniors ) for real jobs • Firms try to hire 1/3 through summer leadership programs for sophomores, 1/3 during fall recruiting for junior internships, and 1/3 during fall recruiting for seniors. Too many students believe that they will not get a job with a CPA firm if they did not participate in a summer leadership program. Far from it. • Do your homework, talk to many firms, and seriously consider all your options.

  20. Recruiting - General • In March, firms interviewed sophomores for summer leadership programs • about 15-20 firms will want to interview juniors in the fall for summer internship programs • and about 35 firms will want to interview seniors in the fall for full-time jobs (either on campus or at the work site).

  21. Recruiting Rules https://www.scu.edu/business/accounting/beyond-the-classroom/recruiting/ • We have recruiting rules to protect students from being forced to make decisions without adequate time and to prevent students from feeling undue pressure from recruiters. • We (the faculty) are available in case you feel pressure from any firm or you feel that a firm is violating recruiting rules. • We can intervene on your behalf to make sure you have enough time to make your decision. We are here to help you and protect you in this process.

  22. Sophomore Recruiting: Summer Externship & Internship Offers • For Sophomores • On campus interviews for summer externships are in March. • Externships take place in the summer after the sophomore year. • Internship Offers • 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 August 31, 2019. • If a student requests an extension, 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 the Friday before Thanksgiving. The student must inform MJ Cho or Professor Michael Calegari of any such request.

  23. Junior Recruiting: Fall Recruiting for Summer Internships • For Juniors • The summer internship offers cannot expire before 5:00 p.m. on the Friday before Thanksgiving.

  24. Junior 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, you • should submit their resumes to Handshake on the same timeline as students who are in residence here. • watch Handshake and look for job postings that indicate that they are for study abroad students. • can interview virtually. • The summer internship offers cannot expire before 5:00 p.m. on the Friday before Thanksgiving.

  25. Senior Recruiting: Seniors with Summer Internships • Job offers can be extended during and after summer internships. • If you receive a full-time offer after your summer internship, the offer must stay open until at least 5:00 p.m. on August 31, 2019. • If a student requests an extension, 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 the Friday before Thanksgiving. The student must inform MJ Cho or Professor Michael Calegari of any such request.

  26. Senior Recruiting: Fall Recruiting • Students not having internships and those who have not accepted an offer after an internship can participate in general Fall recruiting. • Offers stemming from Fall recruiting can have expiration dates before Friday before Thanksgiving, 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 the Friday before Thanksgiving. • The student must inform MJ Cho and Professor Michael Calegari of any such request.

  27. Diversity Student Recruiting • First-year students and Sophomores only • Interview for summer internships in March.

  28. Recruiting - Student Responsibilities • Don’t miss a scheduled interview. • Students should also not miss scheduled resume critiques and mock interviews. • 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. If a student accepts an internship or full-time job offer from a CPA firm, and later rescinds the offer to join a different firm, then the student will be barred from participating in future accounting association events, is ineligible for future accounting department scholarships, and will lose any accounting department scholarships that they had been awarded (but had not yet received).

  29. Recruiting - Student Responsibilities • Bad behavior reflects on you, the school, and all future students. • Firm reps. talk - bad behavior towards a single firm gets shared amongst them. • Situations where you need to notify the Accounting Department (MJ Cho or Professor Michael Calegari). • Undue pressure from the firms. • Firms pursuing you after you have informed them you have accepted another offer. • When you request an extension to an offer expiration date.

  30. Meet-The Firms Night • Event information • Sept. 26, 2019 (Thursday) • 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. from each firm • 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

  31. 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. • Recommend taking ACTG 135 or 134 before your summer internship if you are interning in audit / assurance • Recommend taking ACTG 138 before your summer internship if you are interning in tax

  32. 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.

  33. Cal CPA Society • Become a member. • It is free to students before you receive your degree. • Lots of information • CPA exam • Licensing • Resume builder

  34. Final Issues • Stay in touch • Check your SCU email and weekly department updates • If you haven’t filled out the form to enable us to share your contact information with recruiters, see MJ to do so. • Get your name on the sign in sheet and we will release your advising hold. • Questions?

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