DLLR's Division of Occupational and Professional Licensing
|DLLR's Division of Occupational and Professional Licensing |
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|Maryland Board of Public Accountancy |
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|Board Approved Accounting Curriculum |
|Applicants must satisfactorily complete 120 semester hours or 180 undergraduate quarter hours, or their equivalent (30 semester hours|
|or 45 quarter credit hours in Group I, of which 27 semester or 41 quarter credit hours must be in accounting and related subjects, |
|and 3 semester credit hours or 4 quarter credit hours must be in ethics), including the attainment of a baccalaureate or higher |
|degree that meets the following requirement: A major in accounting on the baccalaureate level, or its substantial equivalent from an |
|institution that is a member of the American Assembly of Collegiate Schools of Business; the Association of Collegiate Business |
|Schools and Programs; is accredited by or is a constituent of an institution accredited by the Middle States Association of Colleges |
|and Schools; or the equivalent regional accrediting association for other regional areas; or is recognized and approved by the Board.|
|Candidates with Accounting Degrees from Other Countries |
|The academic credentials of applicants who have earned degrees from foreign colleges or universities must be evaluated to determine |
|whether the foreign educational preparation fulfills Maryland's education requirements. The foreign credential service organization |
|must be a current member of National Association of Credential Evaluator Services (NACES). For a list of current NACES members please|
|visit . Applicants must request a course-by-course evaluation to be done for the purpose of taking |
|the Uniform CPA exam in Maryland. |
|Educational Requirements to Qualify for the Uniform CPA Exam |
|(Effective Date October 1, 2011) |
|General Requirements |
|To take the Uniform CPA Examination, an applicant shall satisfactorily complete 120 undergraduate semester hours or 180 undergraduate|
|quarter hours, including the attainment of a baccalaureate or higher degree from an accredited institution of higher education as |
|specified in the Maryland Public Accountancy Act. |
|Accounting and Ethics Courses Requirements |
|GROUP I – Accounting and Ethics Education |
|An applicant must have successfully completed 30 undergraduate semester hours or 45undergraduate quarter hours in accounting and |
|ethics subject matter. Applicants must have completed the following: one 3-semester credit hour course or a 4-quarter hour course |
|each in; auditing, cost accounting or managerial accounting, U.S. Federal Income Tax and ethics; a minimum of9 semester or 12 quarter|
|hour credits in financial accounting; and a minimum of 9 semester or 17 quarter hour credits elective accounting courses. |
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|Course Subject: AUDITING |
|(At least 3 undergraduate semester hours or 4 undergraduate quarter hours) |
|Topics Generally Covered |
|Engagement planning |
|Evaluating prospective clients |
|Accepting or declining engagement |
|Agreements with clients |
|Internal control in manual and computerized environments |
|Documentation |
|Reviewing and evaluating engagement to reach conclusions |
|Preparing reports and other communications to satisfy engagement objectives |
|Typical Course Titles |
|Auditing |
|Auditing & Attestation |
|Auditing and Assurance Services |
|Other similar titles |
|Course Subject: MANAGERIAL COST ACCOUNTING |
|(At least 3 undergraduate semester hours or 4 undergraduate quarter hours) |
|Topics Generally Covered |
|Cost-volume-profit analysis |
|Decision making using accounting information |
|Cost accounting |
|Budgeting (for operations) |
|Capital budgeting |
|Forecasting tools |
|Performance measurement |
|Strategic management using accounting tools |
|Typical Course Titles |
|Managerial Cost Accounting |
|Management Accounting |
|Cost Accounting |
|Accounting for Managers |
|Other similar titles |
|Course Subject: U.S. FEDERAL INCOME TAX |
|(At least 3 undergraduate semester hours or 4 undergraduate quarter hours) |
|Topics Generally Covered |
|Federal tax procedures and accounting issues |
|Federal taxation of property transactions |
|Federal taxation of individuals |
|Federal taxation of partnerships |
|Federal taxation of estates and trusts |
|Federal taxation rules for charitable and not-for-profit entities |
|Typical Course Titles |
|U.S. Federal Income Tax |
|Taxation I or II |
|Individual Income Taxes |
|Taxation of Corporations |
|Entity Taxation |
|Taxation of Partnerships |
|Taxation of Estates and Trusts |
|Law of Tax-Exempt Organizations |
|Other similar titles |
|Course Subject: FINANCIAL ACCOUNTING |
|(At least 9 undergraduate semester hours or 12 undergraduate quarter hours) |
|Topics Generally Covered |
|Concepts and standards for financial statements |
|Recognition, measurement and valuation, and presentation of financial statements in conformity with GAAP |
|Specific types of transactions and events in conformity with GAAP |
|Accounting and reporting for government entities |
|Accounting and reporting for non-for profit entities |
|Typical Course Titles |
|Fundamentals of Accounting |
|Intermediate Accounting |
|Advanced Accounting |
|Accounting for Not-for-Profit Entities |
|Governmental Accounting |
|Financial Accounting (I, II, III, IV) |
|Other similar titles |
|Course Subject: OTHER ACCOUNTING COURSES |
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|(At least 9 undergraduate semester hours or 17 undergraduate quarter hours) |
|Topics Generally Covered |
|Any accounting course can be used, including subject above that is not a duplicative course to a course used to fulfill the |
|requirement for an auditing, managerial cost accounting, U.S. Federal Income Tax, or financial accounting courses. |
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|Course Subject: ETHICS EDUCATION |
|Caution: The Board will deny your application if the course you submit for this Group I requirement is not devoted entirely to the |
|study of ethics. The Board will not accept courses that combine the study of ethics with other substantive disciplines or studies |
|(e.g., a course titled "Legal and Ethical Environment of Business" will not be acceptable). For further information on the Board's |
|ethics requirement, please see our discussion in the Fall 2009 issue of The Account Balance. |
|An applicant must have 3 undergraduate semester hours or 4 undergraduate quarter hours in one of the following subject areas: |
|Course Subject: BUSINESS ETHICS |
|(At least 3 undergraduate semester hours or 4 undergraduate quarter hours) |
|Topics Generally Covered |
|Values |
|Character |
|Ethics |
|Social responsibility of business professionals |
|Stewardship of business assets |
|Consumer relationships |
|Employee relationships |
|Whistle-blowing |
|Advertising |
|Corporate social responsibility |
|Typical Course Titles |
|Business Ethics |
|Business in Society |
|Ethics |
|Social Responsibility |
|Corporate Social Responsibility |
|Professional Responsibility |
|Ethics and Professional Responsibility |
|Other similar titles |
|Course Subject: ACCOUNTING ETHICS |
|(At least 3 undergraduate semester hours or 4 undergraduate quarter hours) |
|Topics Generally Covered |
|Code of professional conduct |
|Proficiency |
|Independence and due care |
|Ethics and responsibilities in tax practice |
|Licensing and disciplinary systems |
|Legal responsibilities and liabilities |
|Privileged communications |
|Confidentiality |
|Typical Course Titles |
|Accountant’s Professional Responsibilities |
|Professional and Legal Responsibilities |
|Ethics for Accountants |
|Other similar titles |
|Course Subject: PHILOSOPHY OF ETHICS |
|(At least 3 undergraduate semester hours or 4 undergraduate quarter hours) |
|Topics Generally Covered |
|Nature of the moral good |
|Structures of moral agency |
|Proper criteria for making choices |
|Typical Course Titles |
|Ethics |
|Moral Philosophy |
|Moral Theology |
|Philosophy of Ethics |
|Other similar titles |
|Other Ethics Courses |
|(At least 3 undergraduate semester hours or 4 undergraduate quarter hours) |
|Courses must be substantially devoted to examining a framework for modern ethical decision-making. |
|Typical Course Titles |
|To be evaluated on a case-by-case basis by the Board |
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GROUP II - Business-Related Education
The Board added two new subject areas under Group II – Business Courses. Courses in quantitative methods and computer information/systems may be used to fulfill the requirements for business-related courses. Applicants may qualify for the Uniform CPA Examination by completing 21 undergraduate semester hours or 32 quarter credit hours from business courses in five of nine subject areas. These business related subjects are: statistics, economics, corporation or business finance, management, marketing, U.S. business law, business communication, quantitative methods, and computer science/information systems.
Course Subject: STATISTICS
(At least 3 undergraduate semester hours or 4 undergraduate quarter hours)
Typical Course Titles
Statistics
Management Science
Quantitative Analysis
Other similar titles
Topics Generally Covered
Analysis and interpretation of data
Descriptive statistics
Probability methods
Probability distributions
Interval estimations
Hypothesis testing
Nonparametric methods
Regression analysis
Linear programming
Queuing theory
Network models and simulations
Course Subject: CORPORATION OR BUSINESS FINANCE
(At least 3 undergraduate semester hours or 4 undergraduate quarter hours)
Typical Course Titles
Corporate Finance I or II
International Finance
Financial Management
Business Finance
Financial Statement Analysis
Strategy-Specific Decision Making
Topics Generally Covered
Time value of money
Financial statement analysis
Risk and expected return
Security valuation
Cost of capital
Capital budgeting
Dividend policy
Working capital management
International finance
Cash management
Investment banking
Course Subject: MANAGEMENT
(At least 3 undergraduate semester hours or 4 undergraduate quarter hours)
Topics Generally Covered
Processes of Management
Human resources
Organizational behavior
Planning and organizing a business
Decision-making
Leadership
Typical Course Titles
Management
Principles of Management
Business Management and Organization
Organizational Behavior
Other similar titles
Course Subject: U.S. BUSINESS LAW
(At least 3 undergraduate semester hours or 4 undergraduate quarter hours)
Topics Generally Covered
Agency
Contracts
Debtor-creditor relationships
Government regulation of business
Uniform commercial code (sales, commercial paper, secured transactions, etc.)
Real property
Intellectual property
Business entity structure
Typical Course Titles
Business Law I or II
Commercial Law
The Legal Environment of Business
Contemporary Business Law
Other similar titles
Course Subject: MARKETING
(At least 3 undergraduate semester hours or 4 undergraduate quarter hours)
Topics Generally Covered
Decision-making concerning markets
Products
Prices
Channels
Promotion
Advertising
Marketing strategy
Typical Course Titles
Principles of Marketing
Marketing
International Marketing
Marketing Research
Other similar titles
Course Subject: ECONOMICS
(At least 3 undergraduate semester hours or 4 undergraduate quarter hours)
Typical Course Titles
Economics I or II
Microeconomics
Macroeconomics
Foundations of Economics
Money and Banking
Economic Theory
Managerial Economics
Other similar titles
Topics Generally Covered
Business cycles
Economic measures
Reasons for cycles and changes in economy
Market influences on business strategies
Supply chain and customer management strategies
Implications to business of dealing in foreign currencies
Hedging and exchange rate fluctuations
Subject: BUSINESS COMMUNICATION
(At least 3 undergraduate semester hours or 4 undergraduate quarter hours)
Topics Generally Covered
Forms and techniques frequently encountered in business communications
Business letters
Business memos
Research for business
Letters of application and resumes
Emails and other forms of electronic business communication
Oral briefings
Oral research reports
Typical Course Titles
(English as a Second Language courses will not be accepted as Business Communication courses)
Business Communications
Professional Communications
Business and Professional Speaking and Presentations
Other similar titles
Course Subject: QUANTITATIVE METHODS
(At least 3 undergraduate semester hours or 4 undergraduate quarter hours)
Topics Generally Covered
Analysis and interpretation of data
Forecasting
Probability concepts
Decision theory
Linear programming
Hypothesis testing
Queuing theory
Network models and simulations
Markov analysis
Typical Course Titles
Quantitative Methods
Management Science
Quantitative Analysis
Other similar titles
Course Subject: COMPUTER INFORMATION/SYSTEMS
(At least 3 undergraduate semester hours or 4 undergraduate quarter hours)
Topics Generally Covered
Discrete mathematics
Operating environments
Database
E-commerce
Systems analysis and design
Applications (integrated and stand-alone)
Hardware and software
Networks
Data validation
Batch processing
Real-time processing
Modification controls
Disaster recovery
Typical Course Titles
Information Systems
Information Technology
Accounting Information Systems
Business Information Systems
Other similar titles
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