by John Bennett
The increasingly complex business environment requires accounting students to master an even greater amount of knowledge before they can sit for the CPA exam. New Ohio law will require all students taking the CPA in May 2000 or later to have completed either 225 quarter hours or 150 semester hours of university work, which is the equivalent of a five-year degree.
This fall, Wright State offers a new master of accountancy (M.Acc.) program. The degree program will satisfy not only the new Ohio law, but also the requirements of the American Institute of Certified Public Accountants (AICPA). Most states have or will be adopting the AICPA requirements in the next few years.
Students can pursue a variety of accounting careers with a four-year bachelor's degree, but for those seeking to become CPAs, "the fifth year is a necessity," according to Susan S. Lightle, chair and associate professor of accountancy. The M.Acc. program can be completed in one year if a student attends classes full-time.
"A student who completes the four-year degree and then goes on to the master's in accountancy should then be eligible to sit for the CPA exam after completing the program," Lightle added.
The new graduate degree program also means some changes in the undergraduate program. "We are placing more of a managerial accounting focus on the four-year degree," Lightle says. "We're pushing some of the public accounting-oriented courses to the fifth year. There's more focus on research skills in this program than in the undergraduate program."
Wright State's M.Acc. degree consists of a minimum of 45 credit hours. That total includes 24 hours of graduate accounting courses, and at least 15 hours of graduate courses outside of accounting. Some students may choose English or communication courses for their electives.
"In public accounting, communication skills are extremely important," Lightle says. "If the students can't write a decent memo, it hurts their careers." Others might choose management information systems or computer science courses, because accounting is increasingly computerized, even in very small businesses. Students without professional accounting experience are also encouraged to complete an internship as part of their graduate study.
"We've talked to a number of CPA firms that are interested in having students work as interns," Lightle adds. Demand for accounting graduates continues to be strong.
The state of Ohio has allocated scholarship money specifically for students who wish to enroll in the master of accountancy program, and other scholarship programs are available. For more information, contact the Department of Accountancy at 775-2377.
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