In the spirit of social justice, a new director has helped modify the College of Business by adding more courses to the accounting program so students can become certified public accountants.
According to new accounting program director Lee J. Yao, getting a four-year degree doesn’t allow Loyola students to legally practice as CPAs, even if they pass the CPA exam. Yao said Louisiana law requires students to complete 150 hours to be a CPA.
The old accounting program had become obsolete and needed to reach the demands that corporate America is putting on employees, according to assistant accounting professor Patrick M. Lynch.
Yao and Lynch, in collaboration with other faculty, modified and improved the accounting program. They suggested the consolidation of courses such as Intermediate Accounting I, II and III into Corporate Accounting and Reporting I and II.
Yao and Lynch also added courses such as Accounting for Public Sectors Entities, International Accounting, Tax Accounting II, Forensic Accounting, and Advanced Management Control and Business Analysis.
“We are trying to add more courses that (students) can take here at Loyola and be able to go and sit for the CPA exam,” Lynch said.
According to Yao, the program’s purpose is to attract national and international students to Loyola.
Accounting students are not the only ones taking advantage of the new accounting courses. Finance, marketing and management students will have the choice to minor in accounting by taking about three more accounting courses besides the two required.
According to Yao, the next goal of the program is to bring the bachelor’s and master’s of accounting degrees together into a five-year program. The program will allow Loyola students to graduate with two degrees.
The accounting program will have an emphasis on forensic and corporate governance accounting.
Lynch said offering an improved accounting program makes the College of Business more competitive.
“What we are trying to do is look at what the requirements are in the business world and help our students get ready to deliver those skills set to their potential employers,” he said.
According to Yao, seniors graduating this year are completing the old program. He said the university approved the changes of the accounting program, and it is expected to start in the fall semester.
Having studied in Australia, Minnesota and Singapore, Yao brings international exposure to Loyola students.
“I’m bringing with me experience from other countries,” he said.
“Because I work in the profession, I’m able to bring in the practical nature (and) the professional world experience to our program.”
According to Yao, he chose to work at Loyola because he likes the philosophy of the school.
“To have social justice is my own personal philosophy as well,” he said. Yao said he also wanted to be part of the rebuilding process of New Orleans.
“It’s very satisfying for me at this stage of my life.”
Andrea Castillo can be reached at [email protected].
