Joint Bachelor of Science in Management/Master of Accounting (BSM-MACCT) Program
The accounting profession is held by many in the same esteem as medicine, law, engineering, or architecture. In order to become a professional, one must take and pass a four-part national exam, administered by the American Institute of Certified Public Accountants. Each state, through its respective State Board of Accountancy, has its own, unique, education requirements to determine who is eligible to "sit for" this exam. In addition, there may be further education requirements to determine who may become licensed to practice as a professional and hold themselves out to be a Certified Public Accountant (CPA). The CPA firms do not expect a prospective employee to have taken the CPA exam, however, they insist that they have met the education requirements to sit and become licensed.
Virtually all states require 150 semester hours of college credit. There are significant differences, however, in the required number of courses in accounting and tax, business and liberal arts. In addition, several states require specific courses and/or courses which must be pre-approved by that state.
In order to allow our students to enter the profession upon graduation, the A.B. Freeman School of Business has developed a Joint BSM-MACCT program. The fundamentals of the program are as follows:
• The MACCT portion of the program is 30 hours of graduate courses over and above the BSM requirements of 122 hours. The joint program is usually completed in five years.
• Each student's program plan is "tailor made" by Beau Parent or Christine Smith to meet the education requirements of the state(s) in which the student plans to begin his/her career upon completion of the program.
• By Joint program we mean that, in the last four semesters, the student is taking both graduate and undergraduate courses. The reason for this is scheduling and an agreement with graduate admissions, whereby any undergraduate scholarship that the student has, continues for the fifth year as long as the student has not met the requirements to fulfill their BSM degree until their last semester at Tulane. At the end of five years, the student receives two degrees: a BSM in the major of their choice and a MACCT degree.
The program can be done with or without a Busy Season Internship (BSI). The busy season in the accounting profession occurs from approximately January 1st through April 15th. Students receive assistance in obtaining a BSI with a major CPA firm in the city and state where they plan to live and work upon completion of the program. The students receive the same training, do the same work and receive approximately the same pay as the firm's full-time new hires, working 50-70 hours per week. In addition, the student receives 3 hours of credit for the BSI after completing other related academic requirements. It is a fantastic learning experience which normally leads to a full-time job offer from the CPA firm to commence after graduation. The CPA firms hire a large percentage of their new employees through this and similar internship programs. Upon completion of the BSI, the student returns to Tulane and takes 9 hours of intensive graduate accounting courses between April 16th and May 25th. Therefore, the BSI semester is a 12 hour semester for which the student pays tuition and retains their scholarship(s), if applicable.
UNDERGRADUATE COURSE REQUIREMENTS
A student must complete a minimum of 122 hours of undergraduate coursework, including all requirements for the BSM degree and all prerequisites for the MACCT program. BSM students must choose an undergraduate major in the Freeman School and complete the requirements for that major.
Though BSM students may choose to double major either within the Freeman School, or in the Freeman School and either with the School of Liberal Arts, School of Public Health and Tropical Medicine, or the School of Science and Engineering, a double major may increase the total number of undergraduate credits required to complete the joint program. Please see your undergraduate academic advisor for information on undergraduate double major requirements and the BSM/MACCT program.
Joint BSM/MACCT program students should consult the BSM handbook for curriculum, course descriptions, rules, and regulations governing the undergraduate portion of the program.
GRADUATE COURSE REQUIREMENTS
In addition to completing all BSM requirements, a MACCT student must complete 30 credit hours of approved graduate coursework, 18 hours of which must be graduate-level work in the accounting/taxation area. If a student has taken the undergraduate equivalent of any required graduate courses, the student must substitute approved graduate elective courses to bring the graduate-level credits earned at the Freeman School to 30 hours. A joint BSM/MACCT student must complete the following 21 hours of required graduate-level courses and nine hours of elective graduate-level courses:
Required Courses Credit Hours
ACCN 7100 Ethics in Accounting and Finance 3
ACCN 7110 Auditing 3
ACCN 7120 Advanced Financial Accounting 3
ACCN 7140 Advanced Managerial Accounting 3
ACCN 7230 Financial Accounting Seminar I 3
LGST 7210 Business Law 3
TAXN 7250 Tax Planning for Corporate Decisions 3
Nine hours of graduate elective credit, up to three hours of which may come from one of the following internships:
ACCN 7550 Public Accounting Internship (busy-season) 3
ACCN 7560 Professional Accounting Internship (corporate) 1-3
Undergraduate Coursework Requiring Graduate-Level Substitutions
Students who have taken the following undergraduate courses may not receive credit for taking the graduate-level courses that cover the same material. Instead, they must substitute an approved graduate-level elective in place of the required graduate-level course. Students who need to take graduate-level substitutions are still required to fulfill 30 credit hours of graduate coursework, including a minimum of 18 graduate-level hours in the accounting/taxation area.
If a student has taken this undergraduate course: They may not receive credit for this graduate course:
ACCN 2010 Financial Accounting ACCN 6010 External Reporting and Financial Analysis
ACCN 3010 Managerial Accounting ACCN 6020 Internal Reporting and Financial Analysis
ACCN 4100 Auditing ACCN 7110 Auditing
ACCN 4120 Advanced Financial Accounting ACCN 7120 Advanced Financial Accounting
ACCN 4140 Advanced Managerial Accounting ACCN 7140 Advanced Managerial Accounting
ACCN 4150 Accounting Information Systems ACCN 7150 Accounting Information Systems
LGST 4100 Business Law LGST 7210 Business Law
Once admitted to the BSM/MACCT program, students should consult the MACCT handbook for curriculum, course descriptions, rules, and regulations governing the graduate portion of the program.
The joint BSM/MACCT program may involve one of two internship options:
Busy Season Internship (ACCN 7550 Public Accounting Internship)
The busy season internship is a full-time, spring internship with a major accounting firm. Students must have completed Auditing (ACCN 7110) and Tax Planning for Corporate Decisions (TAXN 7250) to participate in this internship. Typically, the internship takes place in the city and state in which the student plans to live and work after graduation. Students earn three graduate-level credit hours for the internship (after completing certain academic requirements) which runs from approximately January 1 through April 15. Because this internship is full-time, students may not take coursework while participating in the internship. Following completion of the internship, students return to campus for nine credit hours of intensive accounting coursework until the end of May.
The busy season internship provides students with a realistic introduction to the accounting profession. Because seniority in most CPA firms is primarily measured by the number of busy seasons worked, joint BSM/MACCT graduates who pursue the internship will have a professional advantage over BSMs who graduated the previous May. Students should seek approval for ACCN 7550 from Professor Beau Parent or Professor Christine Smith.
Corporate Accounting Internship (ACCN 7560 Professional Accounting Internship)
The corporate accounting internship is a minimum of 10 weeks and includes, but is not limited to, accounting-related functions in industry, banking, hospitals, government, not-for-profit, universities, CPA firms, or service organizations. The corporate internship can be part-time, and can carry from one to three graduate-level credit hours, and may be taken at any time after a joint BSM/MACCT student begins taking graduate coursework. The internship carries responsibilities above entry level and involves the same difficulty of work and training for the student that any new full-time hire receives when entering a firm. The student and the firm agree on the schedule of hours, financial arrangements, and employer supervision. Students should seek approval for ACCN 7560 from Professor Beau Parent.
Although joint BSM/MACCT students receive assistance in obtaining internships, the Freeman School cannot guarantee availability of either the busy season internship or the corporate accounting internship. A maximum of three hours of internship graduate-level credit will apply toward the MACCT degree. A paid internship may partially offset the additional semester of tuition. If a student cannot secure an internship, the student may substitute graduate-level elective hours during the semester.
To be considered for admission to the joint BSM/MACCT program, students must:
• Be currently enrolled in the BSM program;
• Successfully complete Intermediate Financial Accounting I (ACCN 3100);
• Successfully complete, or be enrolled in, Intermediate Financial Accounting II (ACCN 4110). If the student is enrolled in ACCN 4110 at the time of application and is subsequently admitted to the program, participation in the BSM/MACCT program is contingent upon successful completion of ACCN 4110;
• Submit a completed application, including scores from the Graduate Management Admission Test (GMAT), no sooner than one semester prior to taking their first graduate course. Applications can be completed online at https://freeman-tulane-admissions.symplicity.com/.
At the time of application, the student will be asked to meet with the MACCT faculty advisor, Professor Beau Parent or Professor Christine Smith, to develop a suitable curriculum to enable the student to meet the degree requirements and sit for the CPA exam in the jurisdiction in which the student plans to practice.
Because financial aid for each student is based on the original terms of funding, federal policies, and other specific program rules, it is important to discuss the financial aid and cost implications of enrolling in a joint program. Tulane University and the Freeman School are fully committed to enabling students to achieve their goals through the opportunities at Tulane. Prior to enrolling, students should meet with a counselor in the Office of Graduate Admissions at the Freeman School to develop a clear understanding of the requirements for their individual situations.
This honorary national accounting fraternity seeks to promote continuous self-improvement, to foster high moral and ethical standards, to encourage and recognize scholastic and professional excellence, to cultivate a sense of responsibility and service, to promote the collegiate study of accounting, and to provide an opportunity for association between members and practicing accountants. Membership, by invitation only, is based on scholarship and professional attributes.
Joint Bachelor of Science alumni have pursued successful careers in the "Big Four" public accounting and professional services firms; international, national and regional public accounting firms; and a variety of different companies. Some jobs accepted by Joint Bachelor of Science in Management/Master of Accounting graduates include:
Tax and Audit Associates Price Waterhouse Coopers,
Analyst Corporate Finance Department Deutsche Bank
Financial Analyst Dell
Staff Accountant Memphis Redbirds