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MBA for Accounting Professionals    


Program Highlights
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The MBA for Accounting Professionals program addresses the needs of established accounting professionals who want to deepen their professional knowledge and experience. This program requires two or more years of recent full-time work experience in accounting or a related field, and a strong financial accounting academic background (three or more courses). We give priority to experienced Oracle and SAP professionals.

Students study on campus for 7 months and then apply their MBA skills to real-life situations in the workplace for up to 2 years during the curricular practical training (CPT) portion of the Accounting Professionals program. The entire program is 2.5 years in length.

Students who do not have the required work experience or academic background for the Accounting Professionals program, may earn their MBA in-residence at Fairfield, with Specialization in Accounting.

Why MBA Accounting at MUM?
When you join any of the MBA Accounting programs at MUM, you participate in these benefits:
  • Consistent ranking in Top 10 in North America in competitive MBA business simulations
  • Experienced faculty with strong technical skills
  • High levels of student engagement in the learning process
The unique approach to the MBA Accounting programs at MUM flows from its focus on two leading-edge perspectives:
  • Management by Natural Law, as conceived by Maharishi Mahesh Yogi, with its emphasis on the full development of mental, physical and emotional capabilities. Through a course in the Science and Technology of Consciousness (STC), students appreciate how nature organizes according to the path of least resistance (flow) and how to unlock their own creativity in a purposeful and coherent manner to enhance decision-making. Connections to STC principles are expressed throughout the curriculum.
  • Lean Management and Lean Accounting, based on the success principles of the Toyota Production System. Lean Management consists of a systematic set of elements, rules and tools that drive organizational excellence by adding value to customers and eliminating waste throughout the organization. At MUM, students explore how the work of accountants changes when they are part of a lean management organization. Dr. Andrew Bargerstock, Director of the MBA programs at MUM, has been recognized by the Lean Enterprise Institute and the Institute for Management Accounting as 2009 Lean Accounting Professor of the Year.
These two approaches produce powerful knowledge and insights for career development.


MBA for Accounting Professionals: Curricular Practical Training    
After 7 months of full-time, on-campus studies, students begin their search to fulfill the curricular practical training requirement.  University counselors are available at every step to provide guidance and support for this process. Pictured at the left are Accounting Professionals MBA students who are working at The Tower Companies in Rockville, MD.  With them is Jeffrey Abramson (center), partner at The Tower Companies.
  
 
Listed below are some of the employers who have hired our MBA candidates.
 
Academy for Educational Development
Access Home Care Inc.
Accountants Int'l
Accretive Solutions
Aeron Lifestyle Technology Inc.
Aga Khan Foundation USA
Ajilon Finance
Amgulf Corporation
Armstrong Management Services
Ashoka
Association of Public Health Laboratories
Atma Investment LLC
B. F. Saul Co.
Bert Smith & Company
Bi-Bett Corporation
Blair Towers, LLC
Bokhara Carpet Palace Ltd.
Boots & Coots
Business Integra Inc.
Catholic Charities of LA
CH2M HILL, Inc.
Chesapeake Pharmaceutical & Health Care
City Colleges of Chicago
Community Preservation & Dev. Corp.
Corporate Executive Board
Creative Financial Staffing
CRM Technology
Deloitte
DeVolt & Company, PC
Eagle Academy Public Charter School
EDGAR Online, Inc.
Ergo Solutions
Evoke Technologies
FINCA International
Freddie Mac
Friedman LLP
General Growth Property
Genesys Conferencing
Ghenene & Associates
Government of the District of Columbia-
Habif, Arogeti & Wynne
HMS Host
Host Hotels & Resort
Ignify
Institute for Psychological Sciences
Jackson Family Enterprises
K.Neal International Trucks
Lanre Banjo CPA t/a Banjo & Associates
Ledgent
Letap Group Inc.
Madison Marquette
Marriott International Inc.
Meadow Financial Virginia, LLC
Midwest Development & Investment Corp.
Mitchell & Titus
National Oilwell Varco LP
Neiswanger Management Services
Netsuite
New Israel Fund
Nina Jo Associates LLC
Object Net Technologies
Ofori & Associates
Patriot Residential Management Services LLc
Power Costs, Inc (PCI)
PricewaterhouseCoopers
Princeton Optronics
Raffa PC
Reed & Associates
Rivet Software Inc.
Robert Half Management Resources
Rodman & Renshaw
Russell Yamane & Associates
Rylem, LLC
S&K Engineers
Save the Children
Sni Companies
Spectrum
Sullivan & Company
The Maple Gas Corporation
The World Bank
Thompson, Cobb, Bazilio & Associates
Tower Construction Group, LLC
Transworld Logistics & Shipping
UNIRISC
United World Telecom LC
Vangent Inc
Whitman Walker Clinic
ZEN4IT
Frequently Asked Questions    
Frequently Asked Questions (for students in the Professionals track)

Does the University select a student’s U.S. practical training position?  Each student is expected to take initiative in obtaining the practical training position that fits their career path. The University's placement specialists provide support and advice. The Career Strategies Workshop given during on-campus studies provides students with training for CPT search. 

May a student negotiate his own salary? Yes. The Accounting MBA program’s job specialists will educate you about expected compensation amounts based on your skills and experience.

How does the University help prepare a student for an internship position? Through a systematic schedule of Career Strategies Workshops and individual meetings, the University provides guidance to ensure your maximum success.
 
Is a student guaranteed a practical training position? The University is highly motivated to assist you in obtaining a good CPT position. However, like any other university, we do not guarantee practical training positions. The reasons for this include: (a) students vary in the their ability to promote their professional competencies, (b) the student’s English fluency affects placement efforts, and (c) the U.S. economy and job market are subject to change.

How can a student best prepare for relocation and job search?
  • Arrive in the USA with strong written and spoken English
  • Accept a goal to pass at least one part of the US-CPA exam (auditing) during the 7 months of on-campus studies
  • Bring sufficient additional financial resources to support your CPT search. We recommend at least $3,000–$4,000 for travel and living expenses during CPT search.

What are the prospects for getting a good CPT position? There are many opportunities for professional accountants. Students who are diligent and focused on applying for positions are finding good CPT positions. University counselors are available at every step to provide guidance and support for this process. It normally takes 2–6 months to secure a CPT position.

What happens if a student doesn’t get a CPT position during the practicum period?
Students are expected to begin their CPT within a few months of leaving campus. A student who hasn't begun CPT within the specified time frame must return to campus for additional course work.

How does Distance Education (DE) work for this program?
During the two years of full-time CPT, students complete the remaining academic credits through distance education courses. The courses consist of guided-study courses, including preparation for CMA or CPA exams. The University faculty provide a schedule of assignments, monitor and advise students on their progress, provide guidance on technical questions, administer periodic examinations, lead online discussion forums and live conference call discussions, and facilitate essay writing assignments.
 

On-campus Study    
The Accounting Professionals MBA program begins with classroom participation for seven months in the unique learning environment of the MUM campus in Fairfield, Iowa.

CAPSIM Foundation Business Simulation
A favorite course activity among accounting students is the CAPSIM Foundation Simulation, a business competition with other colleges and universities throughout the nation. The CAPSIM Foundation Simulation is a continuous event available online, where participating teams are evaluated against all teams who have participated in the previous six months. The simulation is a popular event among students in the MBA Accounting classes offered by Dr. Bargerstock. The students appreciate the opportunity to exercise their skills in executive decision-making and small group dynamics. Both strong analytical skills and informed intuition are valuable for integrated decision-making.



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Extensive Financial Aid    
Extensive Financial Aid is available for international students. You may defer most of the payment until after you are hired for training. More Details.

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Preparation for CMA or CPA Exams    
Professional Certifications
Professional certifications are optional features of the MBA for Accounting Professionals. Concurrent with the CPT phase of the program, the students take online distance education courses that prepare them to sit for the examinations required as a step toward professional certification either as a Certified Management Accountant (CMA) offered by the Institute for Management Accountants, or as a Certified Public Accountant (CPA) offered by the American Institute of CPAs. It is the student's choice and expense to register to take the professional exams at one of the many testing centers throughout the USA.

The CMA exam focuses on knowledge and skills required for business planning, internal controls, internal reporting and decision-making. Professionals taking the CMA exam typically expect to work for a business or governmental organization. Click here for more information about how to become a CMA.   For information about the CPA exam, go to the website for the American Institute of Certified Public Accountants.

Certified Management Accountant (CMA)
The Certified Management Accountant (CMA) credential, offered by the Institute for Management Accountants (IMA), "demonstrates your command of the critical accounting and financial management skills demanded by today’s dynamic businesses, translating into significant career opportunities for you." CMAs are highly respected and internationally-recognized professionals.

The CMA is appropriate for those who want to become experts in helping their own organization with business planning, developing internal controls and improving decision-making and internal reporting. CMAs develop their careers from within a business organization. CMAs typically begin their careers as cost accountants or business analysts. With more experience, they can become accounting managers, controllers, or chief financial officers.

How will an MBA affect my future earning potential? A recent compensation survey conducted by the Institute for Management Accountants found that the average salary of its members is about 10% higher with a master's degree. The IMA also indicates that the average person who passes the CMA (Certified Management Accountant) exam earns approximately 10% more than those who don't have the CMA. (Source: IMA Annual Career and Salary Guide).
 
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Certified Public Accountant (CPA)
People taking the CPA exam expect to work for a public accounting firm which provides audits, tax advice and consulting to other companies. The CPA is typically an external consultant to the organizations where CMAs work. After several years experience with a CPA firm, many CPAs take jobs with businesses in management accounting or executive roles.

According to the American Institute of Certified Public Accountants website, "CPAs and potential CPAs have a variety of career paths from which to choose. Within public accounting, you can work for any sized firm, ranging from a large, international CPA firm to a small local accounting practice. Within the firm, you can work in such areas as audit, tax and management consulting. The same holds true in business and industry, where you can choose careers in companies of all sizes, working in diverse areas such as financial accounting and reporting, management accounting, financial analysis and treasury/cash management. Within government, you can create a path to success at either the federal, state or local level. Non-profit organizations and education also offer many diverse opportunities."
 
Degree Requirements for Accounting Professionals MBA    
To graduate with an MBA degree under this option, students must successfully complete all general requirements for a master’s degree including Development of Consciousness. Degree requirements for the Accounting Professionals MBA program are a minimum of 53 credit credits, plus participation in the Development of Consciousness program.

Academic Elements
The Accounting Professionals MBA Program consists of three academic elements:
(a) Foundational Studies that provide a solid interdisciplinary framework and subjects in key functional areas to build management capabilities,
(b) Advanced Studies that provide opportunities to sharpen knowledge in financial or managerial accounting and related areas, and
(c) Curricular Practical Training (CPT) through co-operative accounting positions with business enterprises or NGOs to enhance applied business skills.

Students need a minimum of 53 credits of academic credit across the three elements that follow:
  • Foundational Studies (16-18 credits)
  • Advanced Studies (26-28 credits)
    • Students are encouraged to study for the four parts of the CPA exam (16 credits) or the two parts of the CMA exam (8 credits).
    • Additional advanced courses include topics such as finance, industry analysis, business process improvement, and lean accounting.
  • Practicum (9 credits)
    • At least 9 credits of MGT 5910 Practicum Away coincident with curricular practical training (CPT) in a full-time accounting-related position.

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Admission Requirements for Accounting Professionals MBA    
Bachelor's Degree and GPA
  • A 4-year bachelor’s degree or master’s degree from an accredited college, university, or institute is required.
  • Students with a 3-year bachelor’s in business/commerce may be considered for admission, especially with additional training or work experience. You may be required to take additional credits to graduate.
  • You must have earned a minimum cumulative overall GPA of 3.0 (on a 4.0 scale) or second division rank. A slightly lower GPA may be considered if you have a strong work history and/or Chartered Accounting or CPA certifications. Applicants with a GPA under 3.0 may be required to take the Graduate Management Aptitude Test (GMAT).

Professional Work Experience

  • Two or more years of recent full-time work experience in accounting or related field
  • The bachelor’s degree must be in accounting or business/commerce
  • Strong academic background in financial accounting (three or more courses that include intermediate accounting and auditing)
  • Take the preliminary assessment now

English Proficiency


All applicants who are not native speakers of English must submit official test scores (either TOEFL or IELTS) from the previous two years. Find out more about the TOEFL.
Students with scores below 6.5 on IELTS, 575 TOEFL paper-based, 232 TOEFL computer-based and 90 TOEFL internet-based will need to improve their English proficiency before being eligible to apply. The Accounting Professionals track cannot be combined with on-campus Intensive English classes.
 

GMAT


If your GPA is 3.0 or higher, you are not required to take the GMAT. However, we encourage applicants from non-USA countries to take this test, because it may help in obtaining an F-1 visa from the U.S. embassy. Information on the GMAT is available at www.mba.com.
 
The Transcendental Meditation Technique

All of our students learn the Transcendental Meditation technique before or shortly after arriving on campus. Hundreds of scientific studies indicate that the benefits from regular practice of this technique increases the development of creativity and intelligence which leads to greater success. The Transcendental Meditation technique and the Science of Creative Intelligence are foundational to all educational programs at our University. participating in the MBA Accounting program should feel comfortable with this aspect of their education.

Applying for Admission    
MBA for Accounting Professionals
  • Carefully read the admission requirements.
  • Take the free preliminary assessment to determine your eligibility for this program.
  • Click on "Apply Online" then and select your desired program to begin the application process.
  • Applicants are notified by email when they complete each step of the admission process.
  • After academic approval is obtained from the Department of Business Administration, your admissions counselor will communicate with you for documents needed to finalize your acceptance and financial aid.
  • For non-USA applicants:
  • Due to international time differences, we recommend that you correspond with the Admissions Office via email with your admissions counselor.
  • You will be provided with a checklist of documents required for MUM to issue you an I-20 document that you will need to schedule an interview with the US Embassy to obtain an F-1 student visa.
  • The I-20 document is sent via courier mail. You will be notified about the date of mailing and document tracking information. After receiving the I-20, the applicant can arrange a student visa interview with the U.S. embassy.

Frequently Asked Questions

How far in advance should an applicant apply for the MBA Program? We have no formal application deadlines for U.S. applicants, but we strongly recommend that you apply early. International applications must be completed at least one month before the start of the semester due to visa wait times. 

What documents are needed for the online formal application? You will be given instructions by the Admissions Office about what documents to provide. Some of the documents you will need are: university transcripts (not secondary school), CV (resumé), passport copies, and supervisor/faculty recommendations. You should only send the documents that are specifically requested by your admissions representative.

How long does it normally take for the University to complete and approve an application? The period of time it takes to process an application depends greatly on the candidate’s ability to supply the required documents in a timely manner.

What happens if an applicant does not attend the term admitted for? You may request by email to your admissions counselor to have your application for admissions deferred to the next entry date. There will not be any additional fee charged for this service. However, because acceptance criteria are subject to change, applicants who are accepted for one entry date may not automatically be accepted for a future entry date.
 
Additional points for international students
  • The time required to obtain an F-1 student visa varies in each country. You should contact the U.S. Embassy closest to your city of residence to check on F-1 visa application procedures and interview wait time.
  • You will apply for an F-1 student visa as a graduate-level student. This visa permits you to study in the U.S. After you receive an approval from both the program director and the Office of Admissions, we will send you an I-20 document. The I-20 is the document that you need to apply for an F1 Student Visa at your local US Embassy.
  • The total elapsed time from the date that you apply online until the date you receive an I-20 document can be 1–3 months, depending on the speed with which you submit your required documents.
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Director, MBA Programs
Andrew Bargerstock,
Ph.D., CPA
641-472-1128
abargerstock@mum.edu
AndyB's Blog: Latest News from the MBA Program
Consistent High Rankings in the CAPSIM Foundation Simulation!
 
The CAPSIM Foundation simulation, an online business simulation with participating teams from the top business colleges and universities throughout North America, is a popular event among the accounting students. Students have the opportunity to exercise their skills in executive decision-making and small group dynamics.
MBA Teams in Top 10
2013: 1st and 2nd place winners plus 2 more in top 10
2012: All 4 MUM teams
2011: 1st place winner
2010: 1 MUM team
 
 
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