Master in Professional Accounting Admissions Blog

Insider Information for Prospective Texas McCombs MPA Students

Author: Keri Ledezma (page 15 of 16)

Austin in the Top 10

  • The Street, a financial news Web site, included Austin in its list of top 10 cities “poised for greatness” in 2012 based on financial forecasts. Most notable is Austin’s low unemployment rate, low home prices, a blend of state jobs and private-sector employment and support from the University of Texas at Austin.
  • The Business Journals on Numbers cited Austin, Houston, and McAllen-Edinburg as the only cities in the nation’s top 100 metros to increase the number of small businesses between 2008 and 2009.

Increase in Finance Majors Pursuing Accounting

MPA director Jim Franklin and one of our current MPA students were highlighted in a businessweek.com article which stated that finance majors are increasingly adding accounting to their skill set. A couple of notable quotes from the article:

“…The number of finance majors at McCombs who pursued master’s degrees in accounting nearly tripled from fall 2009 to fall 2010, according to Jim Franklin, director of the graduate accounting program. The figure jumped again based on enrollment for this fall, even as undergraduate finance recruiting picked up during the 2010-11 school year.”

 

“Many more [finance students] now see accounting experience as a way to stand out to financial-services firms, and accounting careers as a potential way to break into finance later if jobs are scarce.”

Texas MPA students pursue not only careers in accounting but also finance-related careers. A list of employers who have recently recruited our students is available on our website.

Exceptional Faculty in UT’s Department of Accounting

The McCombs School of Business at The University of Texas at Austin topped the nation for best professors in the latest edition of The Princeton Review’s annual guide to business schools. The faculty members in the Department of Accounting are well respected for their accomplishments. They incorporate their experiences and cutting-edge research into the innovative curriculum they design. Here are just a few examples.

Urton Anderson, former chair of the Accounting Department and the Clark W. Thompson, Jr. Professor of Accounting Education, has been appointed Academic Accounting Fellow for the U.S. Securities and Exchange Commission (SEC). Anderson will serve as the primary advisor to the SEC on accounting and auditing. The Office of the Chief Accountant (OCA) looks to the Academic Fellow as a research resource for the SEC staff. more…

 

Lil Mills

Lillian Mills, chair of the Accounting Department and Wilton E. and Catherine A. Thomas Professor in Accounting, served as President-Elect of the American Taxation Association (ATA), a section of the American Accounting Association. Professor Mills held a position with the Internal Revenue Service Advisory Council, worked with the U.S. Department of Treasury’s Office of Tax Analysis, and is a former trustee of the National Tax Associationmore…

 

Michael Granof, the Ernst & Young Distinguished Centennial Professor of Accounting, has been appointed to the Federal Accounting Standards Advisory Board (FASAB) for a five-year term that runs until June 30, 2014. The appointment was made by the Secretary of the Treasury, the Director of the Office of Management and Budget and the Comptroller General of the United States. more…

He also was appointed to the Governmental Accounting Standards Board (GASB) by the Financial Accounting Foundation Board of Trustees. His term extends until June 30, 2015. more…

 

Michael Clement, associate professor of accounting, was one of five winners of the Ernst & Young Inclusive Excellence Award for Accounting and Business School Faculty. The award was announced August 2 at the Ernst & Young faculty reception during the American Accounting Association‘s annual meeting in New York City. The panel of judges from Ernst & Young and academia selected Clement from more than 250 nominations received for 63 faculty members and honored him for his commitment to diversity and inclusiveness at UT Austin. more…

 

Lisa Koonce, who holds the Deloitte & Touche Endowed Chair in Accounting, gained university-wide attention in 2007 when she was named to The University of Texas Academy of Distinguished Teachers. Last summer, news of her classroom prowess gained Texas-sized proportions when she was named one of 73 professors from among all U.T. System academic institutions to receive the inaugural Regents’ Outstanding Teaching Award. more…

 

William Kinney, the Charles & Elizabeth Prothro Regents Chair in Business and Price Waterhouse Fellow in Auditing, lent his expertise to a U.S. Treasury Department committee on the auditing profession in Washington D.C. Professor Kinney has been a member of the Public Company Accounting Oversight Board Advisory Council, editor of The Accounting Review and editorial board member of Accounting Horizonsmore…

 

Eric Hirst, John Arch White Professor of Business and associate dean for graduate programs, was chosen to receive the 2011 American Accounting Association Distinguished Contributions to Accounting Literature Award for his publication, “Comprehensive Income Reporting and Analysts’ Valuation Judgments.” Instituted in 2010, the award recognizes contributions to accounting literature published within the last 5-15 years. Criteria include uniqueness and magnitude of the contribution to accounting education, originality and innovativeness of research content, clarity and organization of the exposition and finally, soundness and appropriateness of methodology. more…

 

 

Financial Jobs in Texas

Texas is the place to be if you’re seeking employment in the financial sector. According to a recent FINS.com article, Texas added the greatest number of financial sector jobs over the past decade. Even better, The Business Journals reported that Texas is the national leader in private sector job growth.

Ready to relocate?

Accounting Job Market Strong

Although the unemployment rate remains high, public accounting firms and companies in industries such as financial services, health care and consumer goods have increased their hiring of accountants. Jim Franklin, director of the Texas MPA program, was recently quoted in Fortune magazine:

“Of the 330 accounting and finance majors graduating from the Masters of Professional Accountancy program at The University of Texas at Austin’s McCombs School of Business, 90 percent have already landed jobs.”

Our students have pleasantly discovered that the supply of accounting graduates is barely meeting the demand!

Texas MPA Alum Receives Sells Award

Isaiah Massey, MPA ’09

Isaiah Massey, MPA ’09, was recently named as an AICPA 2009 Elijah Watt Sells Award winner. Sells awards are designated on an annual basis. To qualify, candidates must achieve the highest cumulative scores on all four sections of the Uniform CPA Examination and pass each exam section on the first attempt.  In 2009, over 93,000 individuals sat for the Uniform CPA Examination, and only 15 award winners were selected. Congratulations, Isaiah!

Candidates from the University of Texas at Austin typically have CPA Exam pass rates much higher than the statewide and national averages, and several MPA alumni have been granted the Sells award in previous years.

Career Options

Chris Doll, MPA ’07

The 10-year job outlook for accounting-related careers is strong. Even in tough economic times, 90% of our MPA students secure employment by the time they graduate. The majority of our students opt for positions with public accounting firms upon graduation. However, our top-ranked program attracts employers from a variety of sectors, such as consulting, finance, industry, and public service.

Several McCombs Today articles highlight the interesting and varied career paths of our MPA alumni:

  • Chris Doll, MPA ’07, worked in corporate real estate development and started his own real estate investment firm before launching a not-for-profit organization called House the World, with a mission to provide innovative housing solutions for people who live in substandard conditions throughout the world.
  • Bonnie Chan, MPA ’94, is currently a director of finance at Sara Lee. Upon graduation, she worked for the City of Austin in performance auditing. She then moved to the Internal Audit Department for Gateway Computers and served as accounting manager for Dean Foods before joining Sara Lee.
  • Don Maranca, BBA, MPA ’93, initially started his career in public accounting with Arthur Andersen and then Maxwell, Locke & Ritter. He subsequently worked as a financial analyst at Dell, started his own event management company, joined Applied Materials, worked in business development, and served as director of operations for two smaller firms.
  • Thomas Garza, BBA, MPA ’09, decided to volunteer for Teach for America prior to attending Harvard law school.

Need more information on career options? I recommend visiting the Start Here, Go Places web site created by the American Institute of Certified Public Accountants.

MPA Courses

As a prospective student, you most likely have questions about our MPA courses, such as:

  • How challenging are the courses?
  • Is IFRS covered?
  • How are the courses structured (team projects, case studies, etc.)?
  • Do professors grade on a curve?

A great way to get the “inside scoop” is through the student blog in which our current students share their experiences as they progress through the MPA program. Students describe the nature of MPA courses and provide words of advice in the following blog posts:

I would encourage all prospective students to read the blog regularly and send comments and questions to the bloggers. They would love to hear from you!

Texas Primed for Economic Recovery

A recent Newsweek article mentioned several cities in Texas, including Austin, Dallas, Houston and San Antonio, as four of the top ten locations that are well positioned for economic recovery. Diversification, pro-business policies and low taxes were indicated as contributing factors to Texas’ economic strength. Austin, in particular, “boasted the strongest job growth in Newsweek’s Top 10, both last year and over the decade.”

Austin Featured in Time Magazine

Austin, TX is highlighted in the recent Time magazine cover story and in a Time.com video feature. The article “The Workforce: Where Will the New Jobs Come From?” illustrates why cities like Austin are showing early signs of job growth. Time.com also published the “10 Jobs for the Recession,” and, not surprisingly, accountant was listed at No. 2!

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