Preparing for the CPA Exam at EIU

The Eastern Illinois University Accountancy Program has a long and successful history with student success on the CPA examination. The State of Illinois requires that a candidate for the Illinois Certified Public Accountant (CPA) examination must have successfully completed at least 150 semester hours of acceptable credit including a baccalaureate degree or higher. There are two recommended ways to meet the 150 hour requirement at Eastern Illinois University, both of which should lead to student success in an effort to obtain the CPA designation.

Option 1. B.S. in Business (Accounting Major) plus Master’s in Business Administration with Accountancy Concentration

The student obtains the traditional 120 hour undergraduate degree in Business (Major in Accounting) and then applies for admission to the EIU MBA with Accountancy Concentration. Admittance to the MBA program is based primarily on a combination of Graduate Management Admission Test (GMAT) scores and undergraduate grade point average (a complete listing of the MBA admission requirements can be found at www.eiu.edu/~mba ). Outstanding applicants are encouraged to apply for graduate assistantship positions which significantly defray the cost of graduate school. Coursework in the EIU MBA with Accountancy Concentration program consists of:

Degree

Course Titles Related to Degree

Semester Hours

B.S. in Business (Accountancy)

Various, see Undergraduate Catalog

120

Masters’ of Business Administration

   

MBA business non-accounting discipline coursework

Quantitative Modeling, Marketing Management, Financial Management, Operations Management, Management Information Systems, Organizational Behavior, Management Simulation

21

MBA Accounting (required coursework)

Financial Accounting Standards (ACC 5200), Advanced Auditing and Assurance Services (ACC 5400), Legal and Regulatory Environment of Accounting Profession (ACC 5450)

10

MBA Accounting (elective, one course among choices)

Fraud Examination (ACC 5000), Strategic Cost Management (ACC 5300), Special Topics in Accounting (ACC 5100), Seminar on Challenges in Accounting (ACC 5700)

3

 

Total Hours, graduating with B.S. in Business with Major in Accountancy (120 hours) and MBA with Accounting Concentration (34 hours)

154

 

Option 2. B.S. in Business (Accounting Major) plus Finance Minor and Internship

The student obtains the traditional 120 hour undergraduate degree in Business (Major in Accounting). During or after this course of study the student also engages in 3 other initiatives, including (a) 12 hours of coursework toward a Finance Minor, (b) a Summer or Spring semester internship experience for credit, and (c) two graduate level Accounting courses. Thus, the combination of Accounting major, Finance minor, limited graduate coursework, and additional experiential learning satisfies the 150 hour Illinois requirement to sit for CPA as follows:

Degree/Additional Coursework

Course Titles Related to Degree

Semester Hours

B.S. in Business (Accountancy)

Various, see Undergraduate Catalog

120

Finance Minor (required courses)

Required courses (3): Investments; Financial Markets: Commodities, Derivatives and Securities; Long-Term Financial Management Elective course (1): Choose one from Fundamentals of Financial and Tax Planning, Real Estate Fundamentals, Management of Financial Institutions, Real Estate Investment, Working Capital Management, Risk and Insurance, Special Topics in Finance, Applied Securities Analysis, Internship in Finance, Retirement and Estate Planning, Financial Analysis and Planning, Independent Study, International Finance

12

Accounting internship

Summer or spring internship#

12

Graduate Accounting coursework*

Advanced Auditing and Assurance Services (ACC 5400), Legal and Regulatory Environment of Accounting Profession (ACC 5450)

7

 

Total Hours, graduating with B.S. in Business with Major in Accountancy (120 hours) and Minor in Finance (12 hours)

151

 

# EIU internship credit can vary from 1 to 12 hours depending on duration and nature of work assignment.

* Seniors may take graduate level courses for undergraduate credit or reserve for graduate credit. Entry into these courses requires a cumulative GPA of 2.75 or higher. See Graduate Catalog, Graduate Study Options for Seniors, for details and required forms.