Department of Accounting
PERSPECTIVE on IU’s Department of Accounting
There has never been so
much change, energy, and
excitement in the account-
ing field. Recent events
have emphasized the impact
of accounting on our lives
and the value of those who
provide accounting services.
The future of accounting Joe Fisher, Chairman
Department of Accounting
promises even more change as
the world moves toward global financial reporting standards.
The Department of Accounting at the Kelley School of Business is at the
forefront of these developments and has invested heavily in excellent faculty
and in an impressive set of programs at the undergraduate and graduate This mix of
levels. The faculty is conducting cutting-edge research and developing new research
course content. The accounting faculty consistently is recognized as a leader excellence
in research output and innovation. This knowledge creation enables us to and business
include the latest ideas, skills, and techniques in our curriculum. In addi- experience is
tion, our clinical faculty has extensive business experience that they bring to
the classroom setting. This mix of research excellence and business experi-
ence is unbeatable; IU’s accounting programs and research are always listed
among the very best in the country.
This booklet introduces you to what IU’s accounting programs offer its
undergraduate and graduate students.
WHY CHOOSE Indiana University?
Students who choose their education at Indiana University take a major step forward
in life. Not only will they find world-class faculty and degree programs, but they will
also be exposed to unmatched arts and culture, have numerous opportunities to meet
people from all over the world, and participate in making a difference at both a local
and international level.
Creating a Creating a citizen of the world—not just a graduate—is what defines an Indiana Uni-
citizen of the Why Choose the Kelley School of Business?
world–not just With more than 80 years of faculty and curriculum innovation, the Kelley School of
Business stands as one of the country’s premier business schools.
a graduate–is In fact, a recent study conducted by the University of Texas at Dallas ranks faculty
of the Kelley School of Business among the most prolific in research productivity and
what defines places our school among the top ten public programs in the United States.
The Public Accounting Report, the most-cited survey of accounting programs, consis-
an Indiana tently ranks IU’s graduate programs in the top ten.
University Why Major in Accounting at IU?
The accounting program at the Kelley School of Business offers a wide range of
education. degrees and specialties. Students can complete a bachelor’s degree in four year and earn
a graduate degree with an additional year of study.
Faculty & Curriculum Accounting faculty at the Kelley School of Business are
setting—not following—the trends in business. The faculty frequently publishes articles
in premier accounting journals. Recently, the number of such publications placed the
Kelley School of Business among the top five most productive accounting departments
in the world. The IU accounting curriculum is frequently cited for its innovative meth-
ods of providing practical experience. In the graduate programs, for example, student
teams work on real-world consulting projects and present recommendations to business
leaders around the globe.
Students As talented and articulate participants in the learning process, accounting
majors have high standards and visions for the future. These young adults complement
their studies with an impressive involvement in extracurricular activities, student organi-
zations, and community service.
Facilities The classroom facilities used in the accounting program are second to
none. From the state-of-the-art technology center to the Graduate and Executive Edu-
cation Center, few schools in the world possess a comparable level of technology. IU
accounting graduates continue to be known for their technological sophistication.
Careers An IU accounting degree opens the door to a myriad of career opportu-
nities. Employers from top corporations throughout the world aggressively seek IU
accounting majors based on the exceptional quality of students, faculty, and curricu-
lum. Our accounting graduates are leaders in the business world. They are Wall Street
financial consultants, CFOS of industrial corporations, and even CIA and FBI agents,
to name just a few positions held by Kelley School of Business accounting graduates.
Knowledgeable, ethical accounting professionals are essential leaders in today’s competi-
tive corporate world. Kelley’s undergraduate accounting major offers students the opportu-
nity to learn about this dynamic field that is critical to success in business.
By choosing a major in accounting as part of their B.S. in Business degree at Kelley,
undergraduate students benefit from a strong curriculum that will help them build success-
ful careers in auditing, corporate accounting, consulting, taxation, and governmental and
not-for-profit accounting. The Kelley degree also provides a solid foundation for students
interested in pursuing graduate study in business, public administration, and law.
The required courses for the accounting major address a wide variety of topics, includ-
ing auditing, taxation, and systems management. Students also take communication
courses specifically designed to address the oral and written skills needed for success in
As the accounting field has become increasingly complex with constantly evolving
technological advancements, particularly within information systems and communications,
Kelley’s Accounting Department has likewise evolved to better prepare graduates to meet
new expectations at a global level.
As Kelley students, accounting majors benefit from the superb services offered by the
school’s renowned Undergraduate Career Services. Their experienced staff connects stu-
dents with top recruiters in the field of accounting.
To enhance students’ preparation for the business world, Career Services coordinates
opportunities for summer internships with major corporations. Strong performance as an
intern has often led to permanent placement after graduation.
The placement rate into full-time positions for accounting majors ranges from 90 to
100% every year.
A 5th Year at Kelley—It Just Makes Sense
No matter where students are in a program, they should think about a graduate degree
in accounting. After all, it’s the twenty-first century; financial laws and regulations are
At Kelley, constantly changing, and today’s firms are under increased scrutiny, making the role of
financial professionals all the more vital.
students have The demand for competent people with advanced skills in accounting and finance is
high—and likely to remain that way for awhile. Differentiating oneself with a graduate
a choice as to degree in accounting is a wise move. At Kelley, students have a choice as to how to spend
their fifth year.
how to spend Completing an advanced degree from a top-20 business school (and becoming eligible
and prepared to sit for the CPA exam) helps differentiate students vying for positions with
their fifth year. professional services firms and corporations throughout the world. Employment opportuni-
ties expand and self-confidence improves, while team-oriented problem-solving and critical
thinking skills increase. Recruiters will notice the difference as will the students themselves.
• The MBA in Accounting is referred to as the 3/2 MBA. In this prestigious program,
Kelley’s accounting or finance majors spend three years in undergraduate study, apply
for admission in their junior year, and then complete a transformational two years in
graduate study—earning both a BS and an MBA degree within five years. Graduates
accept positions in a variety of financial services and accounting areas—niche consult-
ing, investment banking, and corporate finance as well as audit and tax services.
Comparison of Two 5-Year Accounting Graduate Degree Options
Years 1-3 IU Freshmen, Sophomores, and Juniors
Year 4 IU Seniors 3/2 MBA (first year of 2-year program)
Students take: Core curriculum
Students with Students with
Bachelor's degrees Bachelor's degrees
in Business from Kelley
Year 5 Master of Science in Accounting 3/2 MBA
(MSA) (first year of study (second year of 2-year program)
beginning after graduation) Students major in Financial Analysis
Students take classes in Audit or Accounting
Master of Science MBA in Accounting
in Accounting (MSA)
• Public accounting firms expect their employees to meet the 150-hour CPA eligibility
requirement. With the new Master of Science in Accounting (MSA), students will earn
30 credit hours and will be more competitive for the positions with those firms. All quali-
fied business majors are eligible since upper-level accounting prerequisites can be com-
pleted in the summer prior to the start of the fall semester. Candidates apply for admis-
sion a year prior to the fall in which they intend to begin the program. The MSA is the
perfect fifth-year program for those who are interested in starting a career in accounting.
• The hallmark of Kelley School of Business’ two graduate accounting programs is the
experiential component. Given that work experience is not required for admission, we
incorporate “hands-on” experience to provide students with the opportunity to apply
what they learn in the classroom environment. The 3/2 MBA student, for instance, will
engage in a Capstone Week (computer simulation) as well as a 5- to 7-week field study (in
some cases overseas). A semester-long field consulting project, hosted by area firms from
diverse business sectors, provides the 3/2 MBA and the MSA students with one of the
most meaningful experiences of graduate school.
• Admission is selective, and the programs are rigorous. The admissions committee is look-
ing for qualities comparable to those sought by recruiting firms: outstanding academic
performance as an undergraduate, excellent communication skills (written and verbal),
leadership skills developed in activities outside the classroom, and demonstrated soft skills
that are necessary to perform both in graduate school as well as the working world.
A letter from
Mikel G. Tiller, Graduate Accounting Programs Chairman
The graduate accounting programs at IU’s Kelley School of Business are widely recognized
as benchmarks among the world’s elite programs in accounting. We have an enduring legacy
of leadership, innovation, and impact within the academic and professional communities that
we serve. World-class faculty, rigorous and unique curricula, and truly outstanding students
are the winning combination for the continuing success of our graduates in consulting,
professional service firms, financial service firms, and corporations.
Our purpose is to significantly transform the lives of our students in a manner that broadens
their perspectives, challenges and enriches their values, and creates insightful opportunities
that will enable them to have a positive and meaningful impact in the business communities where they choose to
work. Among our shared values are integrity, passionate engagement, and creative initiative; all values are aimed at
achieving ends that are beneficial to every party with whom we do business.
Experiential learning, soft-skills development, and attention to both the technical details and the human and
societal implications of business activity will continue to be distinguishing aspects of graduate study in accounting at
Indiana University. Oh, and did I mention rigor? It’s not easy to be the best, but why would we accept less at Kelley?
FACULTY Excellence in Scholarship and Research
Our nationally recognized faculty members are known for both their research and teaching
excellence. Numerous published surveys note the accounting faculty’s high research produc-
tivity. In addition, accounting faculty members serve as editors or on the editorial boards of
over a dozen academic journals. Our faculty members are the recipients of numerous teaching
awards, and several faculty members have served as valued employees of prestigious corpora-
tions. Most importantly, our faculty are committed to their students’ success.
M. Daniel Beneish, Ph.D., University of Chicago, 1987. CA. Professor. Sam Frumer
Professor of Accounting. Research interests: earnings management, insider trading,
financial distress, fraud detection.
Terry L. Campbell, D.B.A., Indiana University, 1979. CPA, CMA, CITP. Clinical
Professor. Research interests: multi-dimensional performance measurement systems,
auditing/governance in IT-intensive environments, and decision making under uncertainty.
Mark E. Evans, Ph.D., Duke University, 2008. CPA. Assistant Professor. Research
interests: capital markets, corporate disclosure and governance, auditing.
Joseph G. Fisher, Ph.D., Ohio State University, 1987. CPA. Department Chair.
Professor. Harry C. Sauvain Chair. Research interests: managerial accounting,
budgeting systems, incentive compensation, strategic cost management.
Jim Grandorf, MBA, Indiana University, 1964. CPA. Clinical Professor. Former senior
financial officer of Exxon Corporation. Research interests: controllership best practices.
David Greene, JD, Indiana University, 1974. CPA. Clinical Professor. Former Executive
Vice President and Chief Financial Officer of Young & Rubicam. Former Chairman of
the Board of the Indiana CPA Society.
Max Hewitt, Ph.D., University of Washington, 2007. CA. Assistant Professor. Research
interests: judgment and decision-making issues in financial accounting, capital markets.
John W. Hill, Ph.D., University of Iowa, 1986. Arthur M. Weimer Chair and Professor of
Accounting. Research interests: business valuation, healthcare reform, law and accounting.
Hodder Peggy Sullivan Hite, Ph.D., University of Colorado, 1986. CPA. Professor. Research
interests: taxpayer compliance, tax education, preparer-client relationship, progressivity.
Leslie Hodder, Ph.D., University of Texas-Austin, 2001. CPA. Assistant Professor.
Research interests: assessing the relevance and reliability of risk measurement and valuation.
Patrick Hopkins, Ph.D., University of Texas-Austin, 1995. Associate Professor. Deloitte
Foundation Accounting Faculty Fellow. Research interests: financial reporting, financial
analyst and investor judgment, decision making.
Tom Kennedy, JD, Indiana University, 1971. MBA. Indiana University, 1969. CPA.
Clinical Associate Professor. Former senior tax officer, U.S. West. Research interests:
Hopkins corporate taxation, mergers and acquisitions.
Laureen A. Maines, Ph.D., University of Chicago, 1990. CPA. KPMG Professor
of Accounting. Editor of The Accounting Review. Research interests: experimental
research in financial and managerial accounting.
Malcolm J. McLelland, Ph.D., Michigan State University, 1999. CPA. Clinical
Assistant Professor. Research interests: equity pricing of accounting information,
optimal use of accounting discretion, and accounting labor markets.
Brian P. Miller, Ph.D., The Pennsylvania State University, 2008. CPA. Assistant
Professor. Research interests: financial disclosure, corporate governance, executive
reputation, fraud. Maines
Derek Oler, Ph.D., Cornell University, 2004. CPA. Assistant Professor. Research
interests: archival accounting and finance, mergers and acquisitions.
Rob Parry, Ph.D., Lehigh University, 1979. Professor. Research interests: governmental
accounting, accounting education, earnings management.
Marc Picconi, Ph.D., Cornell University, 2004. Assistant Professor. Research interests:
earnings management, pension accounting, business ethics, capital markets.
James H. Pratt, DBA, Indiana University, 1978. Alva L. Prickett Chair of
Accounting. Research interests: auditing and financial reporting issues addressed
using experimental methods.
Kenny Reynolds, Ph.D., University of Missouri, 1999. Associate Professor.
Research interests: audit quality, audit risk and independence; investors’ use of
Geoffrey B. Sprinkle, Ph.D., University of Iowa, 1996. CPA. Associate Professor.
Honors Program Chair. Whirlpool Facuty Fellow. Research interests: incentive
compensation, experimental research in managerial accounting.
Jerrold J. Stern, Ph.D., Texas A&M, 1979. Professor. Research interests: impact of
tax legislation on effective marginal tax rates of corporations and individuals, tax
aspects of real estate. Wahlen
Mikel Tiller, DBA, Indiana University, 1980. Associate Professor. Chair of the
Graduate Accounting Programs Research interests: behavioral issues in managerial
accounting, auditing, accounting education.
James M. Wahlen, Ph.D., University of Michigan, 1991. Professor. MBA Program
Chair. James R. Hodge Chair of Excellence. Research interests: impact of financial
accounting information on stock prices, financial statement analysis.
Teri Lombardi Yohn, Ph.D., Indiana University, 1991. CPA. Associate Professor.
Research interests: financial accounting, financial statement analysis, effect of
earnings announcements on market returns and information asymmetry. Yohn
A Reputation for Quality, Integrity, and Success
What is a university without its graduates? Alumni not only define the quality of the
education disseminated within each course, but they also define the character, reputa-
tion, and soul of their department, school, and university. The Department of Account-
ing at the Kelley School of Business at Indiana University could not be any more grate-
ful to and proud of its alumni, who have built a legacy of quality, integrity, and success.
Each year Thirteen of our alumni have been inducted into the Kelley School of Business
Alumni Hall of Fame, and 61 are partners in the ten largest accounting firms in the
both our United States. Each year both our undergraduate and graduate students enjoy place-
ment rates that exceed those of our peer institutions.
undergraduate Our graduates are a valuable resource for the Department of Accounting and the
Kelley School of Business. Countless alumni return to campus each year to participate in
and graduate student presentations, corporate recruiting efforts, and mentoring programs. Several of
students enjoy our alumni hold leadership positions within the Kelley School of Business’s Alumni Asso-
ciation. Fifteen percent of the National Alumni Board seats and 29 percent of the Kelley
placement School of Business club presidencies are held by Department of Accounting alumni.
The alumni of the Kelley School of Business accounting programs have built and con-
rates that tinue to maintain a reputation for what the degree represents: quality, integrity, and success.
of our peer
Indiana University . . . so much to offer
Department of Accounting
Kelley School of Business
1309 East 10th Street
Bloomington, IN 47405
Web site: http://www.kelley.iu.edu/accounting/
Graduate Accounting Programs
Kelley School of Business
Godfrey Graduate & Executive Education Center
1275 East 10th Street, Suite 2000
Bloomington, IN 47405
Web site: kelley.iu.edu/gap