In recent years the profession has seen a decline in the number of accounting majors. At the same time, we are seeing an increase in the demands of those entering the profession due to the introduction of new technologies, the ever-changing regulatory landscape, and complexities of global/national business. In response to the shortage of CPAs, many state governments have begun introducing (and passing) new legislation providing a new path to licensure that would only require 120 credit hours. This new path is a substantial change to our profession, that just 25 years ago implemented a 150-hour requirement with the goal of increasing the overall knowledge and professionalism of those seeking CPA licensure. Accounting programs across the country are now re-evaluating what to do with their accounting curriculums, especially their Masters’ programs.
The good news is that 25 years ago the leadership of Kelley had the foresight to invest in two distinct programs focused on value creation: the 3/2 MBA and the Master of Professional Accountancy (now the M.S. in Accounting with Data and Analytics or MSADA). As enrollments are declining across the country, Graduate Accounting Programs is proud to see a significant increase in student enrollments for Fall 2025. The 3/2 MBA has an entering class of 75 and has been approved to expand to a 2-cohort model with the goal of further growth to meet the demands of our undergraduate student body. The MSADA program has gone from 36 students in Fall 2023 to expecting a Fall 2025 entering class of 65. Much of the success in numbers is attributed to our history, but also the collective efforts across the accounting department and the Kelley School of Business.
In July 2024, Graduate Accounting Programs hosted a 25th Anniversary Celebration where alumni, faculty, and staff were invited back to campus to connect and reflect on the successes of the two-degree programs. During the gala, past Chairs reflected on the origins of the program and the continued evolution in curriculum to ensure we continue to produce students that are the next generational leaders of our profession. Inaugural chair, Professor John Hill recounted that when he was attending an early 1990s training event at Arthur Andersen in Chicago that professional leadership was discussing concerns they had with current staff and what was needed to be successful at that time. Specifically, graduates were expected to have advanced technical accounting knowledge, a broad-based business foundation (as opposed to accounting myopia), and strong professional/leadership skills. John Hill returned from this meeting and began working with the accounting department on what would become the blueprints of the 3/2 MBA and the MSADA programs.
In the early years of the 150-hour requirement, most universities offered master’s programs that were focused on a credential that would meet the minimum licensing requirements. IU was unique in that the focus was on two distinct, value-added programs. The 3/2 MBA was always different in that its focus was the integration of accounting and financial knowledge with the wholistic MBA curriculum. Early chairs John Hill and Dave Greene focused considerable time embedding experiential curriculum throughout the 3/2 MBA with a focus on “learning by doing” along with personal and professional transformation. Since then, more than 1,200 alums have gone on to considerable success across several business career paths with many changing career directions in a positive way over the years. What is special is seeing Dave Greene coordinate more than 1,400 hours of volunteer time from approximately 500 3/2 MBA alums and key stakeholders each year as they give back through career profile exercises, serving as heads-of-house at new student orientation, and engaging in interactive role-playing cases with the goal of enriching the educational experience of students in the program.
The MSADA program originally started off as a Master of Professional Accountancy (MPA) with a curriculum like other universities. However, in 2006 Jamie Pratt sought an opportunity to enhance the accounting curriculum to provide more technical expertise, elevating it to a true Master of Science. The degree further evolved in 2018 when Pat Hopkins had a vision to incorporate a four-course data analytics sequence and embed more technical analysis across the advance accounting curriculum. This change also resulted in the degree name being updated from MS in Accounting (MSA) to MS in Accounting with Data and Analytics (MSADA) and gaining STEM designation in late 2020. The program continued to evolve under Leslie Hodder’s leadership as she pushed for more rigor in the curriculum to enhance the students’ professional and technical knowledge. Specifically, she re-imagined the detecting earnings management course where students learn how to use real data and tools to detect accounting irregularities, which has applications in virtually every aspect of business.
While there are many valuable aspects of the degree programs, there are really two things that stand out as unique experiential learning features. First, the International Field Study in the 3/2 MBA program where students spend seven weeks abroad working with our corporate partners on defined projects. This transformational experience immerses students in the local culture as they learn how to navigate both the professional world and their personal lives. Second, the local field consulting projects that both 3/2 MBA and MSADA students participate in during the fall. This experiential learning initiative pairs GAP students with local Indiana businesses, NFPs, and government agencies with students providing solutions to real problems that will have a lasting impact. Both programs provide approximately $2 million of free consultative value with the latter having a profound impact on organizations that need the help in the state of Indiana. These efforts are not possible without the support of past faculty (Dave Greene, Terry Campbell and Jim Grandorf) as well as our most recent experiential learning leaders, Chris Cook and Brett Levitt.
When I was appointed as Chair of GAP in August 2023 a new focus was placed on marketing and messaging to ensure that students understand the value proposition of both the 3/2 MBA and MSADA programs. Much of the messaging is now focused on “it’s not if, but when” you get a master’s degree and ensuring that students think wholistically about their 40-year career path. Specific focus has also been placed on coordinating with the undergraduate accounting workshops with the idea of providing students with networking and support from A313, Introduction to Careers in Accounting, to the 3/2 MBA or MSADA.
The addition of the Accounting Certificate for non-Kelley majors is also providing a unique pathway for students to gain pre-requisite knowledge and then cap it off with the MSADA degree, opening a pathway to the accounting profession.
Finally, starting in 2025 MSADA students are now able to do an international immersion through the Kelley GLOBASE initiative where students provide consultative support to impoverished communities around the world. These new initiatives complement the rich tradition of value creation for the students in Graduate Accounting Programs. The idea is to be a part of the student’s education and career journey at Kelley, helping them realize their full potential. The growth in enrollments this past year suggests that while the credit hour requirements for CPA licensure are decreasing, the value proposition and opportunities at Kelley are on the rise, which will prepare the next generation of leaders in our profession.
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