Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: This rule is being amended to implement the
provisions of House Bill 2046 which became effective August 28,
2020.
(1) The applicant must
comply with section
326.277,
RSMo.
(2) The equivalent of a
concentration in accounting shall be determined in the following manner:
(A) For candidates whose applications for
the initial examination are or were received prior to June 30, 2021, the
concentration or major in accounting, or the equivalent of a concentration in
accounting shall be sixty (60) semester hours of accounting and other related
courses. At least thirty-three (33) semester hours shall be accounting courses
with at least one (1) course in auditing and at least eighteen (18) semester
hours of accounting courses taken at the upper division level. For the purposes
of this rule "upper division level" courses shall mean courses taken beyond the
elementary level. The remaining twenty-seven (27) semester hours shall be in
accounting or other areas of business administration such as business law,
statistics, economics, finance, marketing, management, information technology
and business communications. These courses shall be taken at an accredited
college or university recognized by the board.
(B) For candidates whose applications for
initial examination are received on or after June 30, 2021, the concentration
in accounting shall include a total of at least forty-eight (48) semester
hours, including a minimum of twenty-four (24) semester hours of accounting and
twenty-four (24) semester hours of business courses. These courses shall be
taken at an accredited college or university recognized by the board.
1. Accounting courses should include some or
all of the following:
A. Accounting
information systems;
B. Accounting
research and analysis;
C.
Attestation engagements;
D. Data
analytics, data interrogation techniques, and/or digital acumen in an
accounting context, whether taken in the business school or in another college
or university program, such as the engineering, computer science, or math
programs;
E. Ethics (accounting
course);
F. Financial accounting
and reporting for business organizations;
G. Financial accounting and reporting for
government and not-for-profit entities;
H. Financial statement analysis;
I. Financial statement auditing;
J. Formal independent study;
K. Formal internships;
L. Fraud examination;
M. Internal controls and risk
assessment;
N. Managerial or cost
accounting;
O. Mergers and
acquisitions;
P. Tax and financial
planning;
Q. Taxation;
R. Tax Research and analysis; or
S. Other accounting-related content areas
included in the Uniform CPA Examination Blueprints or as may be approved by the
board.
2. Business
courses should include some or all of the following:
A. Business communications;
B. Business law;
C. Data analytics, data interrogation
techniques, and/or digital acumen, whether taken in the business school or in
another college or university program, such as the engineering, computer
science, or math programs;
D.
Economics;
E. Ethics (business
course);
F. Finance;
G. Formal independent study;
H. Formal internships;
I. Information systems or
technology;
J.
Management;
K. Marketing;
L. Quantitative methods;
M. Statistics; or
N. Other business-related content areas
included in the Uniform CPA Examination Blueprints or as may be approved by the
board.
3. Of the
forty-eight (48) semester hours, a maximum of nine (9) semester credit hours
may be from formal, supervised internships or independent study in the areas of
accounting and business in undergraduate and/or graduate level
courses.
(3)
Any United States universities or colleges accredited by one (1) of the
following six (6) regional accreditors are recognized by the board to satisfy
the accreditation requirement of section 326.277.2, RSMo:
(A) Higher Learning Commission;
(B) Middle States Commission on Higher
Education;
(C) New England
Commission on Higher Education;
(D)
Northwest Commission on Colleges and Universities;
(E) Southern Association of Colleges and
Schools Commission on Colleges; or
(F) WASC Senior College and University
Commission.
(4) The
board may also recognize specialized accreditations which meet or exceed the
accreditation standards of the Association to Advance Collegiate Schools of
Business-International (AACSB) or Accreditation Council for Business Schools
and Programs (ACBSP).
(A) Applicants
presenting transcripts from regionally accredited institutions that have AACSB
or ACBSP business and supplemental accounting accreditation with at least
twenty-four (24) semester credit hours in accounting and at least twenty-four
(24) semester credit hours in business will be deemed to meet the requirements
of paragraphs (2)(B)1. and 2. of this rule.
(B) Applicants presenting transcripts from
regionally accredited institutions that only have AACSB or ACBSP business
accreditation with at least twenty-four (24) semester credit hours in business
will be deemed to meet the requirements of paragraph (2)(B)2. of this rule and
shall demonstrate they have twenty-four (24) semester credit hours in
accounting by providing documentation as the board may specify, including
examples of courses in paragraph (2)(B)1. of this rule.
(C) Applicants presenting transcripts from
regionally accredited institutions that do not have AACSB or ACBSP
accreditation shall demonstrate the applicant has at least twenty-four (24)
semester credit hours in accounting and at least twenty-four (24) semester
credit hours in business by providing documentation as the board may specify,
including examples of courses in paragraphs (2)(B)1. and 2. of this rule.
(5) The board, or its
designee, will complete a transcript review. In reviewing transcripts, the
board may rely on the accreditation to assess the overall quality of the
educational institutions. An applicant shall produce transcripts and any other
course information as the board may request in order to determine education
hours, including acceptable instructions, quality, and concentration in
accounting.
(6) Quarter credit
hours may be converted to semester credit hours by multiplying quarter credit
hours by two-thirds (2/3). For example, thirty-six (36) quarter hours are equal
to twenty-four (24) semester credit hours
(7) The board may in its discretion allow any
applicant to take the examination; however, approval to take the exam shall not
create any presumption that the applicant is fit for licensure nor otherwise
prohibit the board from exercising its discretion in considering an application
for licensure as set forth in section
326.310,
RSMo.
(8) The provisions of this
rule are declared severable. If any provision of this rule is held invalid by a
court of competent jurisdiction, the remaining provisions of this rule shall
remain in full force and effect, unless otherwise determined by a court of
competent jurisdiction to be invalid.
*Original authority: 326.262, RSMo 2001; 326.280, RSMo
2001, amended 2002; and 326.310, RSMo
2001.
