2008 Woodie Awards
In Syms First, Masters in Accounting Offered
Follows New York State Ruling Requiring 150 Credits for CPA
Eric Silverman
Issue date: 3/29/05 Section: Features
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The accounting major has just become a lot harder for incoming freshman. That's because all students that take the CPA exam before 2008 only need a B.A. in accounting. Students graduating after 2008 will have to comply by a new New York State Board's ruling that requires 150 credits to qualify for the test. Currently, many Sy Syms students majoring in accounting are recruited by top accounting firms and eventually take the Certified Public Accounting (CPA) exam. After two years of work experience required by the New York State Board, students that have taken the CPA exam become certified public accountants.
Effectively this means that all accounting majors will need to spend an extra year in Syms in order to fulfill the 150-credit barrier. And instead of receiving a bachelor of arts degree, undergraduates will now obtain a masters in accounting, marking the first masters SSSB has offered students. In the future, say administrators, Syms also has hopes of offering masters in other business disciplines.
By and large, Syms students have opposed the New York State ruling, speculating that the number of accounting majors enrolled in SSSB will begin to decline. Juda Kurtz, an accounting major, believes that "prospective accounting students will choose to major in other business areas," adding that "students may refrain from attending Sy Syms to take some other serious major at the Yeshiva College to save a year."
Syms faculty, including Associate Dean Ira Jaskoll, have reacted positively to the new ruling. In an interview, Professor Jaskoll opined that "the American Institute of Certified Public Accounting (AICPA) wants accountants to be more knowledgeable," asserting that "accounting will remain a good profession and the quality of the people in the industry will enhance significantly."
Still, some have speculated as to the AICPA's motivation for adding educational requirements to the accounting major, given the fact that many undergraduates learn the basic fundamentals of accounting in college, while accounting firms spend an extensive amount of time training their recruits on the job.
At the same time, one potential advantage to the 150 credit ruling is that accountant majors will have the opportunity to pursue a broader education. That was a sentiment echoed by Professor of Business Ethics Moses Pava, who maintains that "accounting is a subset of ethics and now students will have the opportunity to take additional ethical courses to accumulate 150 credits." Yet, if given the option, students may feel disinclined to take 20 or so credits specifically relating to business ethics.
Only time will tell whether or not this ruling will benefit accountants; but, in the meantime, all graduates after 2008 are affected.
Effectively this means that all accounting majors will need to spend an extra year in Syms in order to fulfill the 150-credit barrier. And instead of receiving a bachelor of arts degree, undergraduates will now obtain a masters in accounting, marking the first masters SSSB has offered students. In the future, say administrators, Syms also has hopes of offering masters in other business disciplines.
By and large, Syms students have opposed the New York State ruling, speculating that the number of accounting majors enrolled in SSSB will begin to decline. Juda Kurtz, an accounting major, believes that "prospective accounting students will choose to major in other business areas," adding that "students may refrain from attending Sy Syms to take some other serious major at the Yeshiva College to save a year."
Syms faculty, including Associate Dean Ira Jaskoll, have reacted positively to the new ruling. In an interview, Professor Jaskoll opined that "the American Institute of Certified Public Accounting (AICPA) wants accountants to be more knowledgeable," asserting that "accounting will remain a good profession and the quality of the people in the industry will enhance significantly."
Still, some have speculated as to the AICPA's motivation for adding educational requirements to the accounting major, given the fact that many undergraduates learn the basic fundamentals of accounting in college, while accounting firms spend an extensive amount of time training their recruits on the job.
At the same time, one potential advantage to the 150 credit ruling is that accountant majors will have the opportunity to pursue a broader education. That was a sentiment echoed by Professor of Business Ethics Moses Pava, who maintains that "accounting is a subset of ethics and now students will have the opportunity to take additional ethical courses to accumulate 150 credits." Yet, if given the option, students may feel disinclined to take 20 or so credits specifically relating to business ethics.
Only time will tell whether or not this ruling will benefit accountants; but, in the meantime, all graduates after 2008 are affected.