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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