Master of Professional Accountancy

Welcome Orientation Dr. Richard S. Savich, CPA Academic Director Fall 2013

What to Expect Over the Next Year Interact with your fellow students Develop relationships with your professors Further your knowledge about America, China, Taiwan, etc. Study Accountancy to become a global accountant Start your career Become part of the UCR family

What We Expect of You Discover, Learn & Develop Be respectful (students, professors, others you meet) Do your homework, pass your tests, make presentations, write papers Adhere to the Code of Academic Integrity Graduate with honors Start a career Become part of the UCR family

Learning Goals

• Accounting/Auditing, Tax or Information Systems Skills

• Professional Integrity / Ethical Reasoning Skills

• Global Context Skills • Technology Skills

Accounting/Auditing, Tax or Information Systems Skills

Criteria Exemplary

Gain a working knowledge of on-line tax research

Student identifies all the primary and secondary authorities and locates the tax material from the on-line tax research service.

Understand relevant cost concepts and quantitative techniques that can assist management in variety of decision-making processes

Identifies a firm with unique cost management procedures and describes how the firm has implemented them.

Understand the audit risk model and its components

Uses terms risk of material misstatement (or inherent risk and control risk) and detection risk appropriately. Identifies over 90% of the relevant risk factors from the case.

Professional Integrity/ Ethical Reasoning Skills

• Students will be able to recognize ethical issues, demonstrate familiarity with alternative frameworks for ethical reasoning, and recognize trade-offs and implications of employing different ethical frames of reference when making business decisions

Ethical Reasoning Rubric

Criteria Exemplary

Ethical Self Awareness Student discusses in detail/ analyzes both core beliefs and the origins of the core beliefs and discussion has depth and clarity.

Understanding Different Ethical Perspectives/ Concepts

Student names the theory or theories, can present the gist of said theory or theories, and accurately explains the details of the theory or theories used.

Ethical Issue Recognition Student can recognize ethical issues when presented in a complex, multilayered (grey) context AND can recognize cross-relationships among the issues.

Application of Ethical Perspectives/ Concepts

Student can independently apply ethical perspectives/ concepts to an ethical question, accurately, and is able to consider full implications of the application.

Evaluation of Different Ethical Perspectives/ Concepts

Student states a position and can state the objections to implications of and can reasonably defend against the objections and implications of different ethical concepts and the student's defense is adequate and effective.

Global Context Skills

Students will be familiar with major economic, social, political, and technological trends influencing foreign investment and development of the global economy and demonstrate an understanding of the cultural, interpersonal and analytical skills required for engaging in global business activities

Global Context Rubric

Criteria Exemplary

Knowledge

• Understands multifunctional global issues • Argues pro and con • Effectively critiques issues • Examines inconsistencies • Demonstrates value of information

Exposition

• Uses reasonable judgment • Succinct explanation • Main arguments are stated • Substantial depth of exposition

Analysis

• Discusses issues • Formulates conclusions • Justifies conclusions • Questions validity of information • Shows intellectual honesty

Technology Skills Students will be able to integrate and apply the tools and techniques of business, drawing on a broad-based knowledge of the major functions (accounting, economics, finance, information systems, marketing, operations management, and strategy) to solve complex business problems and make sound business decisions

Technology Rubric

Criteria Exemplary Students can conduct an analysis of a business problem requiring an IT solution.

Thorough understanding of business principles and IT applications for value creation.

Students can construct an economically feasible IT solution to create value.

Advanced understanding of value based decision making and efficient project management.

Students can demonstrate proficiency in the use of current information technology.

Ability to demonstrate advanced use of hardware, network, and business applications.

Students can critically evaluate, analyze and interpret information to solve problems.

Demonstration of superb critical thinking skill to produce valuable information.

Students can apply theories related to IT-enabled strategies and organization design.

Superb ability in using business and IT strategies to improve organizational effectiveness.

Required Courses to take MGT 225 – Professional Accounting and Auditing Research

Weaver (Fall 2013) MGT 229 – Accounting Ethics and Professional Responsibilities

Savich (Spring 2014) MGT 240B – Advanced Taxation

Weaver (Winter 2014) MGT 278A – Foundations of Auditing and Assurance Services

Munsif (Fall 2013) MGT 278B – Information Technology Auditing and Assurance

(Spring 2014)

Highly Recommended Elective Courses to take MGT 204 – Cost and Management Accounting

Mishra (Fall 2013) MGT 226 – Fraud and Forensic Accounting

Friedman (Spring 2014) MGT 240A – Taxation

Weaver (Fall 2013) MGT 241 – Accounting Systems and Controls

Savich (Winter 2014) MGT 245 – Financial Statement Analysis

Savich (Winter 2014) MGT 278C – Internal Auditing

Munsif (Winter 2014) Plus one course of your choice

See http://agsm.ucr.edu/mpac/curriculum.html for listing

Course Schedule (2013 – 2014) Fall Winter Spring

MGT 225 MGT 240B MGT 229

MGT 278A MGT 278C MGT 278B

MGT 204 MGT 245 MGT 226

MGT 240A MGT 241 Elective

Comprehensive Exam Given at end of spring quarter Prepared and graded by faculty Covers all required courses Integrated questions, not necessarily course specific Need to pass to graduate

How to Make the Year Enjoyable Team Spirit

In classes In AGSM

The Accounting Club Local Lingo

In classes With friends

Out and about Southern California The rest of the US

Be curious about people

In the neighborhood Wherever you go

Be a foodie The Freshman 15

Prepare, prepare, prepare

Resume Practice

30 seconds about you Develop an elevator speech

Elevator Speech 30 seconds

Longer than a Tweet ≈60 words

Memorable Get people to want to know you Speak slowly, clearly and loudly

When do you use it? Asked to introduce yourself at a meeting When professors ask, “Who are you?” Before a presentation When meeting new people All preparing you to interview and start your career

Start at the Top Who you are What you do Whom you do it for How you do it What happens as a result

Go to the Bottom I’m a/an fill in the blank with your job title

Student at University of California Riverside in the Master of Professional Accountancy program

And I want to work with now mention your potential organizations or companies

Government, CPA firm, Entrepreneurial company, etc. Which want to become, increase, learn, improve So they can now name some benefit or result that you can provide Sell yourself Sell, sell, sell

Develop your own Take 10 minutes Test on your classmates Be prepared to give your elevator speech

CPA Exam Requirements Beginning 1/1/14

36 units accounting subjects Accounting Financial Reporting Auditing Financial Statement Analysis Taxation External and Internal Reporting

36 units business related subjects 30 units accounting study

Completion of Masters degree constitutes equivalency 15 units ethics study

Exam Sections Auditing and Attestation Business Environment and Concepts Financial Accounting and Reporting Regulation

CIA Certification Requirements Bachelors Degree Pass Exam 24 months experience

Masters degree 12 month experience

Exam Sections Internal Auditing Basics

IIA Mandatory Guidance Internal Control and Risk Tools and Techniques for Conducting the Internal Audit Engagement

Internal Audit Practice Managing the Internal Audit Function Managing Individual Engagements Fraud Risks and Controls

Internal Audit Knowledge Elements Governance Risk Management Organizational Structure and Business Processes Communication Leadership IT/Business Continuity Financial Management Global Business Environment

CMA Certification Requirements Bachelors Degree Pass Exam

Financial Planning, Performance and Control Planning, Budgeting and Forecasting Performance Management Cost Management Internal Controls Professional Ethics

Financial Decision Making Financial Statement Analysis Corporate Finance Decision Analysis and Risk Management Investment Decision Professional Ethics

Two Years Experience

My Contact info Dr. Richard (Dick) S. Savich, CPA Anderson Hall 133 (951) 827-6448 richard.savich@ucr.edu Office hours (Winter 2014)

12:45 – 3:30 pm TR