Proposal to Enhance WLC Accounting Program

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

2. 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.

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

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

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

6. 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

7. What is the level of interest or demand? • Advanced Accounting enrollment of 8-10 per semester • Intermediate Accounting (1 and 2) enrollment of 15-20 per semester • Demand of accounting jobs and empty positions

8. How common is this major?

9. 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

10. 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

11. 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

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

13. Creation of an Accounting Major • Design a track to CPA exam requirements • Improve internship opportunities • Hire more adjunct professors • Move towards AACSB accreditation

14. 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

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

16. 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

17. 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

18. Undergraduate Track • In 5th 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

19. Wisconsin Lutheran College Accounting Path

21. UW-Milwaukee’s Accounting Path

24. Creation of an Accounting Major • Design a track to CPA exam requirements • Improve internship opportunities • Hire more adjunct professors • Move towards AACSB accreditation

25. 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

26. 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

27. 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

28. Creation of an Accounting Major • Design a track to CPA exam requirements • Improve internship opportunities • Hire more adjunct professors • Move towards AACSB accreditation

29. Adjunct Professors in theAccounting Program • Wisconsin Lutheran College employs 3 or 4 adjunct professors each semester • Benefits: • Monetarily efficient • Bring work experience to classroom

30. 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

31. Creation of an Accounting Major • Design a track to CPA exam requirements • Improve internship opportunities • Hire more adjunct professors • Move towards AACSB accreditation

32. 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

33. Accreditation Process • Institution must first be a memberof 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

34. 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

35. 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

36. Creation of an Accounting Major • Design a track to CPA exam requirements • Improve internship opportunities • Hire more adjunct professors • Move towards AACSB accreditation

37. 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

38. Questions?