A Proposal to Enhance the Wisconsin Lutheran College Accounting Program Isaac Hill David Parez

Current Status of Accounting Program  Accounting is a possible emphasis of the Business Administration Major.  Students take at least 8 semesters to complete the emphasis.  Program employs one full-time professor, with several adjunct professors.  Program has been growing over the last few years.

Our Basic Desires 1. Creation of an Accounting Major 2. Design a track to CPA exam requirements 3. Improve internship opportunities 4. Hire more adjunct professors 5. Move towards AACSB accreditation

1. Creation of an Accounting Major 2. Design a track to CPA exam requirements 3. Improve internship opportunities 4. Hire more adjunct professors 5. Move towards AACSB accreditation

Process of Creating an Accounting Major  Four major criteria go in to proposing a major: 1. Why is this major being proposed? 2. What is the level of student interest and probable demand in this major? 3. How common is this major at other colleges and universities? 4. How does this major adhere to Wisconsin Lutheran College’s academic goals?

Why is it being proposed?  Advertising to future students to increase enrollment  Personalizing education toward accounting majors  Matching massive credit hours with title of degree  Improve resumes and job outlook post- graduation

What is the level of interest or demand?  Advanced Accounting enrollment of 8-10 per semester  Intermediate Accounting (1 and 2) enrollment of per semester  Demand of accounting jobs and empty positions

How common is this major? CollegeUndergrads Accounting Major Marquette University8400Yes Cardinal Stritch6000Yes Concordia University - Wisconsin 4300Yes Carroll University3300Yes Carthage College2500Yes Edgewood College2000Yes Mount Mary College1200Yes Wisconsin Lutheran College 1100No Lakeland College950Yes

How does this major adhere to college’s academic goals?  Assists students to spread Lutheran message  Encourages students to actively learn and pursue Truth  Enhancing learning opportunities by adding more academic material  Attracting prospective students  Fulfilling Vision 2020

What classes would need to be added to the curriculum?  Information Systems classes  Classes addressing the use of common accounting software in the business field  Gives students hands-on experience with business software

What are the implications of adding this major… …on the staff and students?  Additional staff would be required  Instructing new courses  Preparing for influx of students  Staffing distribution would not be harmed  Ideal class size already exists

What are the implications of adding this major… …on the budget?  Minimal hiring of staff  Purchase of software for information systems

1. Creation of an Accounting Major 2. Design a track to CPA exam requirements 3. Improve internship opportunities 4. Hire more adjunct professors 5. Move towards AACSB accreditation

What is a CPA?  CPA stands for Certified Public Accountant  Acquired upon:  Passing a comprehensive exam  Attaining a certain amount of work hours  Benefits:  Ensures professional competence of an accountant  Provides recognition of credibility to accountant

CPA Exam  Requirements:  150 overall credits  24 credits within accounting  150 credits can be achieved through either undergraduate or post-graduate credits

Track to the CPA Exam  Students can complete the accounting degree in 8 semesters, including a full-time internship  Two paths to 150 required credits:  Applying to post-graduate program  Completing all credits in undergrad

Master’s Program  Students can enhance accounting education through achieving a Master’s  Master’s in Accounting  Master’s in Taxation  College can form relationships with local Master’s programs  UW-Whitewater  UW-Milwaukee  Marquette

Undergraduate Track  In 5 th year of studies, students can complete a minor or other business emphases:  Finance  Management  Marketing  A minor or any combination of two emphases would complete 150 credit requirement

Wisconsin Lutheran College Accounting Path

UW-Milwaukee’s Accounting Path

SEMESTERCOURSECOURSE TITLE Year 1 Fall English 101Introduction to College Writing Bus Adm 230Introduction to Information Systems Math 105Intermediate Algebra HumanitiesGeneral Education Requirement Social ScienceGeneral Education Requirement Spring English 102College Writing and Research Math 211Survey in Calculus and Analytic Geometry Communication 103 or 105Communication requirement Econ 103Principles of Microeconomics Natural Science/LabGeneral Education Requirement Year 2 Fall Bus Adm 201 (B or better and 3.00 GPA)Introduction to Financial Accounting Bus Adm 210Introduction to Management Statistics Economics 104Principles of Macroeconomics HumanitiesGeneral Education Requirement English 205Business Writing Spring Bus Adm 301 (B or better)Intermediate Accounting Bus Adm 300 (1 credit)Career and Professional Development ArtGeneral Education Requirement Natural ScienceGeneral Education Requirement Social Science/Cultural DiversityGeneral Education Requirement

SEMESTERCOURSECOURSE TITLE Year 3 Fall Bus Adm 402Advanced Financial Accounting Bus Adm 405Income Tax Accounting I Bus Adm 350Principles of Finance Bus Adm 330Organizations Bus Adm 360Principles of Marketing Spring Bus Adm 406Income Tax Accounting II Bus Adm 408Accounting Information Systems Bus Adm 391Business Law Bus Adm 450Intermediate Finance General ElectiveBusiness or non-Business Course Summer Bus Adm 370Operations Management Business ElectiveElective Business Course General ElectiveBusiness or non-Business Course Year 4 Fall Bus Adm 404Cost Management Bus Adm 409Auditing: Procedures and Applications International Business ComponentChoose 1: Bus Adm 456, 465, 496, 498, 535, 541, 551 Business ElectiveElective Business Course Business ElectiveElective Business Course Spring Bus Adm 400 (Business Elective)Accounting Internship Bus Adm 600Management Analysis

1. Creation of an Accounting Major 2. Design a track to CPA exam requirements 3. Improve internship opportunities 4. Hire more adjunct professors 5. Move towards AACSB accreditation

Current Direction of Internships  Professor Stelzer is currently working on attracting local firms  Target individual firm, rather than multiple  Achieve ongoing relationship with one or two firms  Bring in individual firms to meet on campus with prospective interns

Issues Facing Accounting Internships  Accounting internships are harder to find than general business internships  Little rapport with local firms  Over 25 local accounting companies, ranging in size  Currently two interns at Baker Tilly  Difficult to draw attention from multiple firms  Size of student body  Age of program

Future Direction of Internships  Continue to build rapport with Milwaukee firms  Attempt to host accounting firms on regular basis  Use professors’ histories at local companies  Professor Wagner at Deloitte  Professor Derouin at Baker Tilly

1. Creation of an Accounting Major 2. Design a track to CPA exam requirements 3. Improve internship opportunities 4. Hire more adjunct professors 5. Move towards AACSB accreditation

Adjunct Professors in the Accounting Program  Wisconsin Lutheran College employs 3 or 4 adjunct professors each semester  Benefits:  Monetarily efficient  Bring work experience to classroom

Future of Adjunct Professors  Continue to utilize adjunct professors for the good of the school and the students  Diversify adjunct professors  Accounting firms  Small businesses  Tax services  Enhance breadth of experience

1. Creation of an Accounting Major 2. Design a track to CPA exam requirements 3. Improve internship opportunities 4. Hire more adjunct professors 5. Move towards AACSB accreditation

What is the AACSB?  Association to Advance Collegiate Schools of Business  International organization founded with mission of accrediting business schools  Benchmark statistic of good business schools  Under 700 schools worldwide  Marquette and UWM are both accredited

Accreditation Process  Institution must first be a member of AACSB through an application process  Accreditation is achieved through subsequent application process  Adhere to AACSB standards  Approval by committee  Many categories of standards to be met

Benefits of Accreditation  International recognition as a business school  Appeal to recruitment offices of major businesses  Only two schools in Milwaukee area with accreditation  Attract better students, professors, and opportunities

Reality of Accreditation  AACSB accreditation is not a near-future goal  Difficult for small schools  Requires a lot of changes  Accreditation is a positive long-term goal  Focus on reaching the standards  Work with what we are blessed with

1. Creation of an Accounting Major 2. Design a track to CPA exam requirements 3. Improve internship opportunities 4. Hire more adjunct professors 5. Move towards AACSB accreditation

Conclusion  Pleased with the overall progress of accounting program  Proposal evidently shows areas of potential growth  Improving accounting program would ultimately improve Wisconsin Lutheran College

Questions?