The School of Economics and Business Administration is excited to announce the launch of a new Master of Science in Accounting program in response to a) the new California law requiring 150 hours of education in order to be licensed as a CPA; and b) the increasing demand for accounting professionals. Research shows:
- Employment of accountants and auditors will grow by 16% from 2010 to 2020 (The Bureau of Labor Statistics Occupational Outlook Handbook)
- There has been an increase in the percentage of (Accounting) Master’s program graduates hired from 26% in the last survey (2009) to 37%, and a decrease in (Accounting) Bachelors graduates hired from 56% to 43%. (American Institute of CPAs 2011 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits )
- There is an average $16,000 per year salary differential between established (Accounting) professionals with bachelor's degrees and established (Accounting) professionals with master's degrees. Additionally noted, the average total compensation differential between bachelor’s degree holders and master’s degree holders is $25,000. (Institute of Management Accountant's 2011 salary survey)
For those pursuing a CPA, effective January 1, 2014, California will require an additional 30-hour educational requirement (bringing the total to 150 hours) for CPA Licensure. In recognition of the current and past gap in educational credit available at the undergraduate level across all institutions, Saint Mary’s College School of Economics and Business Administration (SEBA) developed the M.S. in Accounting program which will launch in July 2013.
The M.S. in Accounting program is a very viable option for non-CPA bound accounting, business, non-business majors and working professionals to obtain a specialized degree that prepares them for a variety of high-paying careers. It prepares graduates for careers in public accounting, auditing, corporate accounting, management accounting, cost accounting, performance measurement, budgeting and financial planning. In addition to the CPA qualification, it also helps prepare participants for the Certified Management Accountant (CMA) and the Certified Internal Auditor (CIA) and a variety of related qualifications.
“The new Master of Science in Accounting was created to keep our students competitive and increase job prospects and long-term earnings potential. Given the recent data and the way we have structured our program, I am confident that after receiving an M.S. in Accounting from Saint Mary’s, students will have a well-rounded preparedness that meets state law and enhances their future career opportunities,” said Professor Suneel Udpa, Interim Academic Director for M.S. in Accounting.
The M.S. in Accounting program at Saint Mary’s College, competitively priced at $29,500, will be offered in a hybrid format, combining in-class campus sessions on alternate Saturdays with live, web- based class sessions on two weeknight evenings. This delivery format allows students to work full-time while pursuing the 15-month degree. A mandatory Accounting Boot Camp is required prior to the start of the program for those who did not major in Accounting to help students ease into the Master’s degree program. The courses are sequenced so that students have the requisite knowledge and preparation to take the Financial Accounting and Reporting (FAR) section of the CPA exam after the first two quarters and the Auditing and Attestation (AUD) and Regulation (REG) sections of the exam either during the last quarter of the M.S. program or immediately after finishing the program in September. Thus, by the end of 15 months, students in the Saint Mary’s M.S. in Accounting program will have obtained a master’s degree in accounting, fulfilled the 150-hour educational requirement and have the option to take all four parts of the CPA exam – while working full time.
Learn more about this exciting new program here.
About Saint Mary’s School of Economics and Business Administration
Founded in 1863, Saint Mary’s College of California is a cornerstone institution of the San Francisco bay area. After nearly 150 years, with a network of more than 40,000 alumni worldwide, Saint Mary’s tradition of educational excellence is stronger than ever. The School of Economics and Business Administration’s vision is to be an internationally recognized business and economics school for developing individuals who think globally and lead responsibly. Small class sizes facilitate collaboration, accessibility, and engaging discussions with our distinguished faculty, and an interactive learning environment focused on practical business knowledge, serves to provide our students with the maximum return on their investment.