Pepperdine University is set to begin offering a Master of Science in Accounting degree as a full-time program through its Graziadio School of Business and Management at the university’s campus in Malibu, California.

The nine-month program is being launched in response to the state of California’s new requirement that CPA candidates complete 150 semester units at the bachelor’s degree level or higher, rather than the 120 units previously required, in order to become licensed. Of the 30 additional semester units, 20 must be focused on accounting study, with the remaining 10 units focused on ethics study, according to the California Board of Accountancy. The new CPA licensure requirements will become effective January 1, 2014.

“Pepperdine University developed this program to ensure that students are able to receive the additional accounting, business and ethics training now required in California,” Michael Williams, associate dean of full-time programs at the Graziadio School, said in a statement on March 5, 2013.

Classes for the MS in Accounting will begin with the Fall 2013 term and Pepperdine is accepting applications for the program. The master’s degree coursework will cover topics including advanced taxation and auditing, accounting for nonbusiness organizations, financial statement analysis, research and ethics for accounting.

Undergraduate students pursuing an accounting degree at Pepperdine may apply to the MS in Accounting program during their senior year. The program also is open to students who have received a bachelor’s degree in accounting from any accredited California college or university. All candidates must receive a satisfactory score on the GMAT exam in order to be considered for the new MS in Accounting degree program.

To date, more than 40 states have adopted the 150-hour requirement for students wishing to obtain CPA certification, according to the American Institute of CPAs (AICPA). The international organization states that traditional, four-year undergraduate programs in accounting no longer provide adequate preparation for CPAs, given the proliferation of new tax laws, increasingly complex business practices and changing staffing needs at accounting firms, among other reasons.

Students will not necessarily need to complete a master’s degree in order to meet the 150-hour requirement. However, the AICPA notes that graduate-level coursework is the best way to acquire the skills and competencies now required of CPAs. In addition, students with a master’s degree typically perform better on the Uniform CPA Examination and receive higher starting salaries than students with a bachelor’s degree, according to the AICPA.

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