Accounting Specialization

Whether you are looking to become a high-level executive at a corporation or an independent CPA, an MBA with a specialization in accounting from Concordia University Chicago opens myriad career possibilities. Concordia-Chicago MBA graduates move on to positions in auditing, tax strategy and managerial accounting. Most states, including Illinois, require a candidate to have earned 120 credit hours and a baccalaureate degree to take the CPA exam. To receive the CPA license, a candidate must pass all four parts of the exam and have earned 150 college credit hours. The Concordia-Chicago MBA with a specialization in accounting is a perfect pathway to become a Certified Public Accountant.

Concordia-Chicago's specialization in accounting has been redesigned to better prepare a student to sit for the Uniform CPA Exam. Starting in 2024, a candidate who wishes to sit for the CPA exam, will take three general tests and then will choose a fourth test. This fourth test is a radical new part of the CPA exam where a candidate will choose one of these three areas of designation:

• Business Analytics and Reporting (BAR)
• Information Systems and Controls (ISC)
• Tax Compliance and Planning (TCP)

Starting in Fall of 2024, Concordia-Chicago will roll out the first of these MBA accounting specializations (BAR). It is anticipated that the other two MBA accounting specializations will be available in the next two years. Again, this new MBA design allows appropriately qualified students to earn the 120 credit hours required to sit for the CPA exam along with the 150 credit hours to be granted the CPA licensure upon successfully passing all four parts of the CPA exam.

Learning Objectives

Concordia-Chicago's specialization in accounting prepares students for one of the three areas of designation on the CPA exam. Students with an undergraduate degree in accounting (or who have taken at least 24 credit hours in accounting) will have taken specialized courses such as Audit Theory, Federal Income Taxation, Corporate Taxation and Cost Accounting that will prepare them for the three general parts of the exam. MBA students pursuing the MBA specialization in Accounting - Business Analytics and Reporting (BAR) learn the following:

• Students learn to analyze an organization’s economic performance, use advanced accounting reports and convey information to key stakeholders within the firm.
• Develop skills in financial statement analysis with emphasis on organizing and summarizing financial data
• Develop skills in data preparation, data visualization, business data analysis, data interpretation, data storytelling and analytics-based decision making.
• Students will choose to specialize in one of three areas: Business Analysis and Reporting, Tax and Compliance, or Internal Systems and Control.
• Students will be further prepared for the area of specialization that they choose to take on the CPA exam

Please note that each state has its own rules for sitting for the CPA exam in each jurisdiction. These requirements change frequently for all 50 states. The specialization in accounting will assist you in meeting some of the steps toward sitting for a state CPA exam. Please verify eligibility with each state CPA board where you intend to practice.

Specialization Outcomes

1. Utilize generally accepted accounting principles (GAAP) to analyze an organization’s economic performance and financial stability.
2. Understand and apply ethical decision-making in accounting practice and the impact on the business, employees and stakeholders.
3. Use advanced accounting analysis and reports to select and convey information to management and key stakeholders.
4. Understand and assess the global perspective of accounting in the collection, analysis and presentation of financial information for various audiences.
5. Utilize and evaluate relevant information technology for competitive advantage in accounting practice.
6. Apply GAAP in the areas of nonprofit accounting, lease accounting, derivative and hedge accounting, risk analysis, and revenue recognition.

Career Possibilities

• Chief Financial Officer
• Consultant
• Business Analyst
• Tax Accountant
• Budget Analyst
• Auditor

Demand for MBA Graduates

According to the Graduate Management Admission Council® survey of 185 companies in 33 countries worldwide, 87-percent of employers plan to maintain (43%) or increase (43%) headcounts for new MBA hires.