tedbabe

Hi,
I am currently waiting for the outcome of my application to be qualified as a full member from ACCA. Meanwhile, I would like to apply for schools in the U.S. for their Master degree program, and I would really like to start in this coming fall semester. Appreciate someone would advise:
1) if I should wait for the outcome of my ACCA membership first before applying to the schools or it doesn't matter if I am a member or not? The reason why i am asking is because I do heard that certain evaluators / schools do not take completing ACCA exams as equivalent to a U.S. degree. But being qualified as full member has a better chance of entering into the Master degree program. Not sure if what I am hearing is a myth?
2) Does it make a big difference if business school is accredited by AACSB?

Thanks very much for your help in advance!

Cheers!

JAJ

1. Have you got any other formal qualifications?

2. What is AACSB?
Just as importantly, is the university fully accredited?

tedbabe

Hi,
1) No, I do not have any other formal qualifications except a diploma in the local polytechnic recognized in my country and ACCA.
2) AACSB is the association of advance collegiate schools of business. The business school might be accreditated by one of 4 regional accreditation bodies but not necessary by AACSB. So, I'm thinking is it necessary to have the business / accounting degree to be one of the AACSB accreditated schools?
Thanks!

JAJ

1. You will probably need to have your qualification assessed by a U.S. accreditation service. (probably a member of NACES : http://www.naces.org)

The service may only look at full membership of ACCA, but you will need to check. Talk to the university first to see which credential evaluators they use.


2. Having had a look at AACSB it clearly seems to be a "good thing" to have but whether it's essential or not, I don't know. The Number One priority is that the university should be properly accredited by the appropriate regional authority in the U.S.

What kind of Masters are you planning? MBA or a more academic type of Masters degree (eg Masters of Accounting)?

If you are planning to leave the U.S. and come home with your degree, then choosing a business school that is well known internationally becomes important.


Can you afford the fees they will charge and can you get a U.S. student visa (unless you're already an American citizen?)

Also, are you sure the investment will be worthwhile compared to the alternatives, such as doing a Masters in your home country.

tedbabe

Hi JaJ,
Do you mean checking with the foreign credential evaluators first?
The universities did not tell me but just ask me to send in my qualifications to be assessed first before they can consider my application.

I am planning for a Masters with a specialisation (eg. Masters of Accountancy or Masters of Taxation) due to: (a) personal preference; and (b) I have gone through some job postings and they would normally require a Masters in Accountancy / Taxation. Seldom do I see a requirement for MBA.(maybe I am wrong?)

But I would have to say that I have not thought about whether will I be leaving U.S. and coming home with my degree. Thanks! I guess that really help me in my choice of universities.

As for the fees, it should be no problem and they do offer a student visa if I am admitted into the program.

Thanks!

tedbabe

Hi JaJ
Thought I forgot to add one point is: I did consider of doing Masters in Accountancy in two of the local universities in my own home country. However, they do not accept holders of ACCA to be admitted into their program. They simply ask members of ACCA to apply to Singapore ICPAS for membership. :s

JAJ

I thought that if you studied ACCA in Singapore you automatically became a Singapore CPA as well. Is that not the case?

tedbabe

Hi JaJ,
Yes, you are right. Together with ACCA and with the relevant years of experience (which members of ACCA have) and being proficient in Singapore laws (company and taxation laws), we are able to go for a pre-admission course and become a CPA of Singapore.

However, I would like to do a Masters in Accountancy. Two reasons: (a) I love studying (ok, I sound silly and weird here but it's true); (b) I wish to work in other countries. I'm not sure how far can a Singapore CPA status help me to get jobs in US? in UK?

It's not easy to get a job in these countries. This can be seen from the recent development in the immigration regulations in UK (esp on HSMP visas), not the mention the strict rules of hiring foreigners in the US which are already in existence. My mentality is such that: Why would employers hire me, a foreigner, instead of a local US citizen or UK citizen?
I would have to have something "extra" so that the employers would hire me.

So, that's why I am going for other schools that would possibly admit grads of ACCA. However, I do not know if I should wait till I get the outcome of my membership or I can start applying now in order to get admitted into the grad schools.

Blendin

That's because you were probably searching for accounting jobs. When it comes to jobs in management consulting, investment banking or marketing......MBA is king.

Blendin

My personal belief is that being a licensed US CPA is more valuable than getting a Master's degree.

Blendin

Here is a ranking of the top 25 graduate programs by the Public Accounting Report.

Public Accounting Report
26th Annual Professor’s Survey—2007
Top 25 Graduate Programs
2007/2006

1 1 University of Texas-Austin
2 2 Brigham Young University
3 3 University of Illinois at Urbana-
Champaign
4 5 University of Southern California
5 4 University of Notre Dame
6 6 Texas A&M University
7 7 University of North Carolina at
Chapel Hill
7 8 Indiana University Bloomington
9 10 Michigan State University
10 13 University of Florida
11 10 Ohio State University
11 16 University of Georgia
13 9 University of Wisconsin-Madison
14 17 Arizona State University
15 24 University of Washington
15 17 University of Michigan
17 22 Bentley College
17 10 Northern Illinois University
18 15 Miami University (Ohio)
18 NR University of Connecticut
21 14 University of Alabama
22 NR Virginia Tech
23 24 Florida State University
24 24 Baylor University
25 21 University of Missouri-Columbia
25 NR Boston College

Bijilo123

If you want to have a tax specialisation then is it not better to become a chartered member of a professional institute. You will learn the same stuff but you will also be able to practice it too - at a far higher salary than CPA. I think that the UK body (Chartered institute of Taxation?) offers a special arrangement for qualified accountants. I don't see any professional value in Masters in Accounting unless you seek an academic career. Good luck with the ACCA qualification though.

Bijilo123

Presumably these are for CPA training?

Blendin

No, but that's where the big 4 accounting firms hire from.

JAJ

Generally it is far better to have a tax specialisation as an add-on to an accountancy or law qualification, rather than just on its own.