State offices and all DLLR physical locations will be closed to the public December 24 & December 25, 2014. However, Unemployment Insurance telephone and Web operations WILL be available on Wednesday, December 24.

DLLR's Division of Occupational and Professional Licensing

 

Maryland Board of Public Accountancy

 

Board Approved Accounting Curriculum

To qualify to become a candidate sit for the Uniform CPA Examination, applicants must satisfactorily complete 120 semester hours or 180 undergraduate quarter hours, or their equivalent. Thirty (30) semester hours or 45 quarter credit hours in Group I, which requires 27 semester or 41 quarter credit hours must be in accounting and related subjects, and 3 semester credit hours or 4.5 quarter credit hours must be in ethics. An applicant must have received baccalaureate or higher degree that meets the following requirement: a major in accounting on the baccalaureate level, or its substantial equivalent from an institution that is a member of the American Assembly of Collegiate Schools of Business; the Association of Collegiate Business Schools and Programs; is accredited by or is a constituent of an institution accredited by the Middle States Association of Colleges and Schools; or the equivalent regional accrediting association for other regional areas; or is recognized and approved by the Board.

Further, to qualify to obtain a license as a certified public accountant, an applicant must have completed a total of 150 semester credit hours or 225 quarter credit hours of education and complete the requirements of Group II Business-related education as described below.

Chart of Subject Matter (Word document, 93KB, download Word viewer for free)

Candidates with Accounting Degrees from Other Countries

The academic credentials of applicants who have earned degrees from foreign colleges or universities must be evaluated to determine whether the foreign educational preparation fulfills Maryland's education requirements. The NASBA International Evaluation Service (NIES) is the only acceptable evaluation service for foreign transcripts. There are no exceptions. Please don't use another service and expect the Board to accept their evaluation of your credentials. Any other evaluation will be denied. Applicants must request a course-by-course evaluation to be done for the purpose of taking the Uniform CPA exam in Maryland.

Educational Requirements to Qualify for the Uniform CPA Exam
(Effective Date October 1, 2011)

General Requirements

To take the Uniform CPA Examination, an applicant shall satisfactorily complete 120 undergraduate semester hours or 180 undergraduate quarter hours, including the attainment of a baccalaureate or higher degree from an accredited institution of higher education as specified in the Maryland Public Accountancy Act.

Accounting and Ethics Courses Requirements

GROUP I - Accounting and Ethics Education

An applicant must have successfully completed 30 undergraduate semester hours or 45undergraduate quarter hours in accounting and ethics subject matter. Applicants must have completed the following: one 3-semester credit hour course or a 4-quarter hour course each in; auditing, cost accounting or managerial accounting, U.S. Federal Income Tax and ethics; a minimum of9 semester or 12 quarter hour credits in financial accounting; and a minimum of 9 semester or 17 quarter hour credits elective accounting courses.

Course Subject: AUDITING
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Engagement planning
Evaluating prospective clients
Accepting or declining engagement
Agreements with clients
Internal control in manual and computerized environments
Documentation
Reviewing and evaluating engagement to reach conclusions
Preparing reports and other communications to satisfy engagement objectives

Typical Course Titles
Auditing
Auditing & Attestation
Auditing and Assurance Services
Other similar titles

Course Subject: MANAGERIAL COST ACCOUNTING
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Cost-volume-profit analysis
Decision making using accounting information
Cost accounting
Budgeting (for operations)
Capital budgeting
Forecasting tools
Performance measurement
Strategic management using accounting tools

Typical Course Titles
Managerial Cost Accounting
Management Accounting
Cost Accounting
Accounting for Managers
Other similar titles

Course Subject: U.S. FEDERAL INCOME TAX
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Federal tax procedures and accounting issues
Federal taxation of property transactions
Federal taxation of individuals
Federal taxation of partnerships
Federal taxation of estates and trusts
Federal taxation rules for charitable and not-for-profit entities

Typical Course Titles
U.S. Federal Income Tax
Taxation I or II
Individual Income Taxes
Taxation of Corporations
Entity Taxation
Taxation of Partnerships
Taxation of Estates and Trusts
Law of Tax-Exempt Organizations
Other similar titles

Course Subject: FINANCIAL ACCOUNTING
(At least 9 undergraduate semester hours or 13.5 undergraduate quarter hours)

Topics Generally Covered
Concepts and standards for financial statements
Recognition, measurement and valuation, and presentation of financial statements in conformity with GAAP
Specific types of transactions and events in conformity with GAAP
Accounting and reporting for government entities
Accounting and reporting for not-for-profit entities

Typical Course Titles
Fundamentals of Accounting
Intermediate Accounting
Advanced Accounting
Accounting for Not-for-Profit Entities
Governmental Accounting
Financial Accounting (I, II, III, IV)
Other similar titles

Course Subject: OTHER ACCOUNTING COURSES
(At least 9 undergraduate semester hours or 13.5 undergraduate quarter hours)

Topics Generally Covered
Any accounting course can be used, including subject above that is not a duplicative course to a course used to fulfill the requirement for an auditing, managerial cost accounting, U.S. Federal Income Tax, or financial accounting course.

Course Subject: ETHICS EDUCATION
Caution: The Board will deny your application if the course you submit for this Group I requirement is not devoted entirely to the study of ethics. The Board will not accept courses that combine the study of ethics with other substantive disciplines or studies (e.g., a course titled "Legal and Ethical Environment of Business" will not be acceptable). For further information on the Board's ethics requirement, please see our discussion in the Fall 2009 issue of The Account Balance.

An applicant must have 3 undergraduate semester hours or 4 undergraduate quarter hours in one of the following subject areas:

Course Subject: BUSINESS ETHICS
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Values
Character
Ethics
Social responsibility of business professionals
Business leadership
Stewardship of business assets
Consumer relationships
Employee relationships
Whistle blowing
Advertising
Corporate social responsibility

Typical Course Titles
Business Ethics
Business in Society
Ethics
Social Responsibility
Corporate Social Responsibility
Professional Responsibility
Ethics and Professional Responsibility
Other similar titles

Course Subject: ACCOUNTING ETHICS
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Code of professional conduct
Proficiency
Independence and due care
Ethics and responsibilities in tax practice
Licensing and disciplinary systems
Legal responsibilities and liabilities
Privileged communications
Confidentiality

Typical Course Titles
Accountant’s Professional Responsibilities
Professional and Legal Responsibilities
Ethics for Accountants
Other similar titles

Course Subject: PHILOSOPHY OF ETHICS
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Nature of the moral good
Structures of moral agency
Proper criteria for making choices

Typical Course Titles
Ethics
Moral Philosophy
Moral Theology
Philosophy of Ethics
Other similar titles

Other Ethics Courses
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)
Courses must be substantially devoted to examining a framework for modern ethical decision making.

Typical Course Titles
To be evaluated on a case-by-case basis by the Board

GROUP II - Business-Related Education

Courses from the following list of subjects must be completed to meet thee business related educational requirements for qualify to obtain a license. At least 21 undergraduate semester hours or 31.5 quarter credit hours must be completed from among at least in five of nine subject areas. These subject areas are: statistics, economics, corporation or business finance, management, marketing, U.S. business law, business communication, quantitative methods, and computer science/information systems.

Course Subject: STATISTICS
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Typical Course Titles
Statistics
Management Science
Quantitative Analysis
Other similar titles

Topics Generally Covered
Analysis and interpretation of data
Descriptive statistics
Probability methods
Probability distributions
Interval estimations
Hypothesis testing
Nonparametric methods
Regression analysis
Linear programming
Queuing theory
Network models and simulations

Course Subject: CORPORATION OR BUSINESS FINANCE
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Typical Course Titles
Corporate Finance I or II
International Finance
Financial Management
Business Finance
Financial Statement Analysis
Strategy-Specific Decision Making

Topics Generally Covered
Time value of money
Financial statement analysis
Risk and expected return
Security valuation
Cost of capital
Capital budgeting
Dividend policy
Working capital management
International finance
Cash management
Investment banking

Course Subject: MANAGEMENT
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Processes of Management
Human resources
Organizational behavior
Planning and organizing a business
Decision making
Leadership

Typical Course Titles
Management
Principles of Management
Business Management and Organization
Organizational Behavior
Other similar titles

Course Subject: U.S. BUSINESS LAW
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Agency
Contracts
Debtor-creditor relationships
Government regulation of business
Uniform commercial code (sales, commercial paper, secured transactions, etc.)
Real property
Intellectual property
Business entity structure

Typical Course Titles
Business Law I or II
Commercial Law
The Legal Environment of Business
Contemporary Business Law
Other similar titles

Course Subject: MARKETING
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Decision-making concerning markets
Products
Prices
Channels
Promotion
Advertising
Marketing strategy

Typical Course Titles
Principles of Marketing
Marketing
International Marketing
Marketing Research
Other similar titles

Course Subject: ECONOMICS
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Typical Course Titles
Economics I or II
Microeconomics
Macroeconomics
Foundations of Economics
Money and Banking
Economic Theory
Managerial Economics
Other similar titles

Topics Generally Covered
Business cycles
Economic measures
Reasons for cycles and changes in economy
Market influences on business strategies
Supply chain and customer management strategies
Implications to business of dealing in foreign currencies
Hedging and exchange rate fluctuations

Course Subject: BUSINESS COMMUNICATION
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Forms and techniques frequently encountered in business communications
Business letters
Business memos
Research for business
Letters of application and resumes
Emails and other forms of electronic business communication
Oral briefings
Oral research reports

Typical Course Titles
(English as a Second Language courses will not be accepted as Business Communication courses)
Business Communications
Professional Communications
Business and Professional Speaking and Presentations
Other similar titles

Course Subject: QUANTITATIVE METHODS
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Analysis and interpretation of data
Forecasting
Probability concepts
Decision theory
Linear programming
Hypothesis testing
Queuing theory
Network models and simulations
Markov analysis

Typical Course Titles
Quantitative Methods
Management Science
Quantitative Analysis
Other similar titles

Course Subject: COMPUTER INFORMATION/SYSTEMS
(At least 3 undergraduate semester hours or 4.5 undergraduate quarter hours)

Topics Generally Covered
Discrete mathematics
Operating environments
Database
E-commerce
Systems analysis and design
Applications (integrated and stand-alone)
Hardware and software
Networks
Data validation
Batch processing
Real-time processing
Modification controls
Disaster recovery

Typical Course Titles
Information Systems
Information Technology
Accounting Information Systems
Business Information Systems
Other similar titles