The Accounting major at ISU prepares students for future success in business, government and academia, focusing on developing those core competencies that enable graduates to succeed, whether they choose to continue their education or begin their professional careers.
The program is noted for its small class sizes and frequent interaction between individual students and faculty. Also, ISU is frequently rated in the top 10 schools in the country in terms of pass rates on the national CPA exam. In fact, in the past three years our MAcc students have earned a CPA pass rate of 88% on their first time taking the test with our undergraduates following at a 55% pass rate.
Today's successful accountant is a strategic partner to the organization with whom he or she is working. Those entering the field are not only required to be technically competent, but to have the ability to communicate and to lead. The accounting program has been designed to develop both technical skills and soft skills.
Is an Accounting major for you?
First, visit this site from the American Institute of CPAs. It offers a wealth of information about careers and opportunities in accounting.
Another way is to assess your performance in your first two accounting courses, required of all business majors. If you perform well in these two courses (ACCT 2201 and ACCT 2202), you may have an aptitude or an interest in accounting, and we certainly hope that you will consider it as your major.
At a minimum, a 4-year degree (128 semester hours) is required for entry into the accounting profession, with many states requiring 5 years (150 hours) to sit for the national Certified Public Accountant (CPA) exam or to become licensed as a CPA. Whether you choose a 4-year or a 5-year program, ISU offers the curriculum that will suit your needs.
Careers in Accounting
The College of Business' graduates have moved on to work at very successful public and industry accounting firms as well as opening private practices and working for government agencies. Our students are in demand! In 2016, 76.4% of our Master of Accountancy students had accepted a full-time employment offer in accounting within three months of graduation. Our graduates are employed by some of the following firms.
You can find excellent information on accounting careers including necessary skills, salary information, and much more by visiting the following sites:
College of Business MAcc graduates in the 2013 - 2015 classes typically earn between $50,000 - $59,000 upon graduation. While earning their degree, students were also able to earn around $30,000 - $39,000 annually as shown in the graph below.
Information Assurance and Tax Services – Public Accounting
A CPA is licensed by the state to provide information assurance services, which includes auditing, risk assessment, entity performance measurement, compliance and reliability reporting to name a few. Auditing and assurance services aimed at modern corporations requires knowledge of information technology, knowledge of controls and how to evaluate them. Tax services include domestic and international tax planning, constructing tax efficient transactions and entities, as well as various compliance issues.
As a strategic partner in almost any organization, managerial accountants are usually involved in cross-functional teams, analyzing financial information and using this information to help predict and direct the future.
Forensic accountants help to detect fraud and to articulately present the results of their work to a judge and jury. Presentation skills are a critical part of the job.
A business valuation specialist is needed to appraise "hard" assets and value "soft" assets such as a company's information base or work force, commonly at the time of sale of a business or in divorce situations where a family business is involved.
Good financial planners understand investments, taxes, estate-planning issues, and know how to listen. They advise on such matters as retirement planning and the funding of family member education costs. Many accountants become Certifi ed Financial Planners (CFPs).
Visit With An Adviser
The best way to learn about matching your interests with the requirements for the Accounting major is to schedule a visit with an academic adviser. Contact Kristine McCarty: Office: BA 510D; Phone: (208)282-3856; Email: firstname.lastname@example.org.