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Bachelor/Master in Accountancy

The Bachelor/Master in Accountancy program prepares students for entry into both non-public and public accountancy careers through advanced study in an accountancy graduate program. This program includes preparation for the 150-hour requirement to be a candidate for the CPA examination in the State of Illinois. Admission to the Bachelor/Master in Accountancy program is competitive and follows a two-stage process.

First Stage Admission

Students applying to the first stage should complete the First Stage Admission Application and the Accountancy Scholarship Application. Admission requirements for the first stage include:

  • Admission in good standing in the College of Business with a declared major in accountancy and at least 90 semester hours of credit by the start of the term for which the student seeks admission, including ACCY 301, ACCY 302, ACCY 303, and ACCY 304;
  • A grade point average of at least 3.0 (A=4.0) for the last three semesters of undergraduate course work and for undergraduate accountancy major course work (including both required and elective courses). The grade point averages will include both grades of any repeated courses. Students must take business courses for a grade. When calculating grade point averages, the Department will treat business courses with a grade of CR as a C- and those with a grade of NC as an F. Business courses include those with accountancy, business administration, finance, and economics rubrics.

Application Checklist-First Stage Applicants

Below is a list of the materials the Department must receive for a complete file.

  • First Stage Admission Application
  • Accountancy Scholarship Application (Financial aid decisions are made once a year. Each spring decisions are made for the following academic year. Financial aid deadline-Feb. 1. Students applying for Spring admission by Sept. 1 do need to submit this application at that time.)

Required Deposit

The Department requires students who accept admission to the first stage of the BS/MAS in Accountancy program to submit a $1,500 deposit to reserve a space in the program. The deposit must be in the form of a check or money order payable to the Department of Accountancy University of Illinois at Urbana-Champaign. This deposit is effective for applications submitted to the Department on or after October 1, 2008. The deposit is due upon student acceptance of the Department’s offer of admission to the program and the Department will not process admission until it receives the deposit. The Department will apply the full deposit to the student’s account in the first term that the student registers as a graduate student in the MAS program. The deposit is refundable in the event the Department does not accept the student’s application to the MAS program.

Second Stage Admission

Admission requirements for the second stage, which also requires admission to the Graduate College, include:

  • Admission in good standing in the Department’s Bachelor/Master in Accounting Science program and at least 120 semester hours of credit by the start of the term for which the student seeks admission, including ACCY 405.
  • A grade point average of at least 3.0 (A=4.0) for the last three semesters of undergraduate course work, for undergraduate accountancy major course work (including both required and elective courses) and for any graduate course work taken while in the first stage of the program. The grade point averages will include both grades of any repeated courses. Students must take business courses for a grade. When calculating grade point averages, the Department will treat business courses with a grade of CR as a C- and those with a grade of NC as an F. Business courses include those with accountancy, business administration, finance and economics rubrics.work taken while in the first stage of the program;
  • Names and addresses of three academic references;

Applicants whose native language is not English are required to take the TOEFL Internet-Based Test (iBT) or the IELTS exam. The Department requires a total TOEFL score ≥ 103 to be exempt from the English Placement Test requirement. In addition, the Department requires a speaking score ≥ 24 for purposes of admission and = 26 for purposes of graduate assistantship and financial aid awards. The IELTS exam requirement for program admission & financial aid consideration is a speaking score of ≥ 8. There are no exemptions from the TOEFL iBT or IELTS exam.

Application Checklist-Second Stage Applicants

Below is a list of the materials the Department must receive for a complete file.

  • Second Stage Admission Application
  • Application Fee
  • Accountancy Scholarship Application (Financial aid decisions are made once a year. Each spring decisions are made for the following academic year. Financial aid deadline—Feb. 1. Students applying for spring admission by Sept. 1 do need to submit this application at that time.)
  • UIUC transcript
  • TOEFL or IELTS score (required for applicants whose native language is not English)
  • Declaration & Certification of Finance form (international students only)
  • Concentration or minor application inor application

Students interested in applying for a concentration or minor will need to complete the appropriate application.

  • Finance Minor
  • International Business and Corporate Governance
  • Information Technology Minor
  • Taxation Concentration

The admission requirements of the Graduate College also apply; students are advised to familiarize themselves with the Graduate College's Handbook for Graduate Students and Advisors. Admission to the Graduate College will be on limited status prior to completing all requirements of the BS in Accountancy.

Degree Requirements

Students enrolling in the Bachelor/Master in Accountancy program may pursue a minor in finance, information technology, or international business and corporate governance, or a concentration in taxation. A student who elects not to pursue a minor or concentration will select their electives to form a coherent program of study. The course requirements for the MAS program for applicants pursuing the BS/MAS program are:

Grad Hours Courses
4 ACCY 510-Financial Reporting Standards
4 ACCY 511-Risk Measurement/Reporting I
4 ACCY 512-Risk Measurement/Reporting II
4 Accountancy elective
8 Non-accountancy electives
8 Electives (either accountancy or non-accountancy)
32 Total for MAS

The electives, both accountancy and non-accountancy, shall form a coherent program of study, approved by a program advisor. At least 20 of the 32 total graduate hours must be in 500-level courses and at least 24 of the 32 total hours must be earned while enrolled in the Graduate College at the Urbana campus. Students must maintain a minimum grade point average of 3.0 (A = 4.0) to continue in, and graduate from, the MAS program. All courses applied toward the 32 graduate hours required for graduation must be taken for grade and not on a credit-no credit basis. Once admitted to the first stage of the Bachelor/Master in Accountancy program, but prior to Graduate College admission (the second stage), students may earn the equivalent of up to 8 graduate hours and apply those equivalents toward their Master's degree requirements. In doing so, students cannot double count the credit from such courses toward their Bachelor's degree requirements.

Students enrolling the Bachelor/Master Program will complete the Bachelor of Science in Accountancy and the Master of Accounting Science (MAS).

The CPA Exam

The CPA Exam is now offered in a computerized format (CBT), up to six days a week during two out of every three months throughout the year, providing more flexibility for the examination candidates. The four parts of the CPA Exam are:

  • Auditing and Attestation (4 hours)
  • Financial Accounting and Reporting (4 hours)
  • Regulation (3 hours)
  • Business Environment and Concepts (3 hours)

The passing standard for the CBT is a scaled score of 75 for each section. If candidates receive less than 75 on one or more sections, they may re-take those sections during the next "testing window." Candidates must pass all four sections of the Uniform CPA Examination within a "rolling" eighteen-month period, which begins on the date that the first section(s) passed is taken.

Sample Schedule for Bachelor of Science in Accountancy

Freshman First Semester Second Semester
Econ 102 or 103 Econ 102 or 103
Math 125 or Calculus (Math 220, 221, or 234) Math 125 or Calculus (Math 220, 221, or 234)
Comp I or CMN 101 Comp I or CMN 101
CS 105, Foreign Language CS 105, Foreign Language
General Education or Elective 15-16 General Education or Elective 15-16
Sophomore First Semester Second Semester
Accy 201 Accy 202
Econ 202 Econ 203
Econ 302 Fin 221
General Education or Elective General Education or Elective
General Education or Elective 15-16 General Education or Elective 15-16
Note: Accy 201 requires sophomore standing and completion of econ 102/103. Fin 221 requires completion of or concurrent enrollment in Accy 202 & Econ 203. Econ 302 may be taken during sophomore or first semester junior year. Advanced Composition may be taken after completion of Comp I.
Junior First Semester Second Semester
BADM 310 BADM 320
Accy 301 BADM 300
Accy 302 Accy 303
General Education or Elective 14 Accy 304
General Education or Elective 14-16
Note: BADM 310 must be complete before enrollment in Accy 304.
Senior First Semester Second Semester
Accy 405 BADM 449
Accy 312-optional Electives 16
Electives 16
Note: BADM 449 requires senior standing.
Generel Education University Requirements
Humanities & Arts-3 courses Comp I
Cultural Studies-2 courses Advanced Comp
Natural Sciences-2 courses Foreign Language
Behavioral Science-1 course

 

In the State of Illinois, students are issued a CPA Certificate after passing both the CPA Exam and an Exam on Professional Conduct. The CPA license is earned only after one year of appropriate experience is completed. Currently, individuals in possession of a CPA Certificate may hold themselves out to the public as a CPA. After July 1, 2010 first-time Exam candidates will need to earn the license in order to qualify for the CPA designation.

The CPA Exam Eligibility Requirements in Illinois are:

The Illinois Board of Examiners (IBOE) is modifying the educational requirements to sit for the Uniform Exam in the State of Illinois. The revised educational requirements will be effective for those taking the exam on or after July 1, 2013.

Given the effective date of the IBOE changes to the educational requirements, and assuming a five-year UIUC accountancy curriculum, these changes may affect students who entered the university as an undergraduate freshman on or after July 1, 2009.

The Department of Accountancy does not consider a student who earns only a baccalaureate degree (with or without a second baccalaureate degree) as qualified to enter the public accountancy profession. The Department considers the minimum requirements for entry into the public accountancy profession to be either a Master of Accounting Science or Master of Sciences in Accountancy degree.

For more details on about the educational requirements, please consult with an Accountancy advisor or visit www.ilboa.org.

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UIUC College of Business Office of Undergraduate Affairs