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Accounting Class

by bizzzschool » Thu Dec 11, 2008 8:10 am
Hi,

I have a 3.2 GPA undergrad from UW-Madison in Economics (did well in advanced math classes). I received all A's, B's and a couple of C's. However, I got a D in accounting. Therefore, I was thinking about re-taking an accounting class in order to improve my grade before applying to Business School.

My question is should I retake the same class I did poorly in (Accounting 101), a higher level undergraduate accounting class, or apply to take an accounting class at the graduate/MBA level.

If I should redo the undergraduate class (in Chicago), neither U Chicago or Northwestern have undergraduate business schools. I could take the class at DePaul/Loyola undergraduate. Does it matter where I go if the best thing to do is take an undergraduate class?

If I should take an accounting class at the graduate level, I am assuming I should take the class at UChicago or Kellogg.

Please let me know what is best. I am looking to get into a top program and have a 660 GMAT (retaking in late Jan.), have 3 years of good work experience, have started my own company, volunteered abroad, am involved on the board of non-profit organizations in the community and do other volunteer work.

Thank you for the help!
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by bizzzschool » Thu Dec 11, 2008 11:15 am
Hi,

Thank you for your response! I am going to apply for 2010 and starting early. I felt too rushed to apply this year considering I want to take the GMAT again and redo the accounting class. My GMAT breakdown was V36/78%, Q45/75%, T660/83%, although I am going to try it again in late January.

If it does not matter what accounting class I take, would it make more sense to take a graduate level accounting class so that I can get credit for it in the MBA program? Alternatively, and undergrad class will just show that I can do well in the same class that I did not do well in. It seems to me like both classes will show I can handle the work, but I would get credit for the grad level class, which seems like an advantage. Also, I can take the grad class at a top university, where the undergrad is not offered at a top school in my area. I guess if it really does not matter where I go though, then that is inconsequential.

Thank you again for your help!
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by Jay Allen » Thu Dec 11, 2008 11:21 am
It depends on which program, but in almost all cases, you would not test out of your intro to accounting class, regardless of your academic experience. Into to Accounting at a top tier school is so hard, so fast, and so comprehensive that even trained CPA's find it challenging. The very few that do test out of the class had extensive academic and work experience in accounting and considered themselves experts.

While you can learn cash flow statements, balance sheets, and income statements in a grad or undergrad level accounting course. Very few outside courses will go into the depth of a top tier MBA intro course: LIFO/FIFO transfers, deferred tax accounting, etc. Additionally, most won't do it with the case method forcing you to apply accounting concept to real world business situations.

Hope that helps!


Best,

Jay
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by bizzzschool » Fri Dec 12, 2008 2:13 pm
Even if I took an accounting class at Kellogg or Booth, I would not test out of it when I went for my MBA?

If I could not get credit at the MBA level, there would not be a difference between getting an A in an intro undergrad accounting class, a more advanced undergrad accounting class or a MBA level class in terms of my application and redeeming myself from my undergrad class?

Thanks again!
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Online Class

by bizzzschool » Wed Jan 21, 2009 1:09 pm
I am having trouble finding a way to take the class in person with a full-time job. Would an online class be ok? Would an in-person class be better?

If online is ok, does it matter which online program I go to? Should I take the class from the best online program I can find? Is there one that you can recommend?

Thanks again.
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by VP_Jim » Mon Feb 02, 2009 10:18 pm
I'm a CPA, so I think I should weigh in here:

I completely agree with the above - MBA accounting is very different than what you'd get in an undergrad accounting class. That said, I would recommend that you take undergrad financial accounting again if you're rusty. The MBA classes move really fast and focus on the hardest material, so you'll be in rough shape without some sort of background to start with. As I said, I'm a CPA and I teach college level accounting, and even I had a little trouble when I did some tutoring for an MBA student this year. There is no way you'd be able to test out of it.

As for taking the class online, I wouldn't recommend it. It's hard enough to learn accounting in a traditional format; online you'd practically be teaching yourself. I recommend that you take a class in person.
Jim S. | GMAT Instructor | Veritas Prep
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