University Of Arkansas At Little Roc

UNIVERSITY OF ARKANSAS AT LITTLE ROCK Assessment Plan Form Version 3 (for programs added after June 1995 or for revisions of plans)

Department: Department of Accounting, College of Business Administration Department chair: Robert R. Oliva Contact Person (if other than chair): ______Phone and e-mail: 501-569-3352; [email protected]

Complete Degree Program Name: Graduate Certificate in Taxation

Circle one: AA AS BA BS BSE BBA MA MS Other Master’s EdS JD EdD PhD Graduate Certificate Please summarize your responses on this form: attach supporting and explanatory material as needed. Separate plans should be developed for each degree program’s department offers (although they may be consolidated in single progress reports if appropriate).

Submitted to Provost’s Office on ______Approved by Provost on ______

1. Program Mission:

A. What is your program’s central educational mission?

The initiation of graduate certificate programs is consistent with our educational mission, e.g., to adequately prepare students with the proper foundation to enter the constantly expanding professional field of Accounting and Taxation.

This program will facilitate entry into the profession as CPA applicants must complete 150 semester hours to be eligible to take the CPA exam. Also, this program will provide practicing CPA’s an excellent educational alternative to complete yearly Continuing Professional Education (CPE) hours. Lastly, the program will provide students with a concentration in the MBA program.

B. How does your program’s central educational mission relate to the UALR mission?

The initiation of graduate certificate programs is consistent with the University’s strategic goal to continue to expand its graduate offerings to address regional and state needs, particularly those that address regional and state needs and those that contribute significantly to the economic development of the state. Two reasons indicate that the Graduate Certificate in Taxation addresses the state and regional needs. First, area residents desiring to attend an accredited graduate business program in taxation or an accredited graduate law program in taxation must go out of state. Second, the surveys undertaken to assess student demand indicates the need to assist Accounting students and professionals to meet the examination and CPE requirements, as well as a desire to further their education through a prescribed graduate program in the area of Accounting and Taxation. 2. Program Goals:

The Department of Accounting has two long term goals, e.g., (1) for UALR and its Department of Accounting to be the choice of central Arkansas residents aspiring to enter professional careers in Accounting and Taxation, and (2) for UALR and its Department of Accounting to be the choice of central Arkansas practitioners seeking professional growth through post-baccalaureate training and graduate education in Accounting and Taxation. These goals can not be attained unless the Department offers graduate programs in accounting and taxation.

It is expected that these two goals will be attained if various intermediate term objectives are achieved form the perspectives of students/alumni and prospective employers. From the perspective of students/alumni, success will depend on whether the program, (1) added value and continues to have value to their education and careers, (2) enhanced their career development, (3) enhanced their level of income, and (4) met their initial expectations.

From the perspective of employers success will depend on whether, (1) there has been an increase of UALR graduates in the firms’ proportionate share of yearly hires, (2) program alumni exhibit better preparation in Accounting and/or Taxation than their contemporaries, (3) program alumni exhibit a faster career progression than their contemporaries, (4) program hires have met employers’ expectations, and (5) whether employers are likely to continue to hire program alumni.

Program Objectives: To meet students/alumni and employers’ expectations, the Department of Accounting must provide a well designed graduate program with relevant learning objectives to the practice of taxation. Hence, the specific program objective for the Graduate Certificate in Taxation is to develop students’ professional skills in three areas: Tax research, the practice of taxation, and the analysis of tax issues. Hence, each of the four courses in the program will have learning objectives designed to develop each of those skills. Please refer to the mapping of objectives and courses in Exhibit 1.

3. Site of Objectives:

Please refer to the mapping of objectives and courses in Exhibit 1.

4. Assessment Population:

The assessment population will consist of students, alumni, and employers.

5. Assessment Methods: As this is a new program, in addition to a traditional program assessment, there should be some form of assessing the nature of the demand for the program as well as some form of pre-launching assessment to determine what should be include in the program.

A. Demand Assessment

1. Informal demand assessment Informal demand assessment was initiated in August 2005 through meetings with CPA partners, employees, and students. Starting August 2005, we initiated a series of meetings with key financial officers and the partners of the major accounting firms in the Little Rock area with the intention to introduce the new Chairperson, share his vision for the Department, find out about the firms’ needs, and to recruit key individuals for the Department of Accounting’s Advisory Board. As result of those meetings, the Department’s Advisory Board now includes partners from four of the major accounting firms in the Little Rock metropolitan area and the Controller of one of the largest companies located in our metropolitan area. In addition, during these meetings the partners and officers visited generally agreed with the need for graduate programs. They expressed a willingness to distribute our assessment questionnaire within their firms.

In addition, the Chairperson has had the opportunity to advice many students in connection with registration and/or being admitted in the CBA as accounting majors. Many of those students hold undergraduate degrees with a wide diversity of majors. These students had one thing in common: meeting the 150-hour requirement. In almost every case, students indicated a preference to undertake a prescribed program of study leading to a certificate or a degree.

2. Formal demand assessment

From early November 2005 to early January 2006, the Department initiated the administration of the attached surveys (Exhibits 2, 3, and 4. The results of the surveys are found at Exhibit 5. Drs. Daily, Farewell, and Oliva, were involved in the design of the survey. One survey was addressed to students and another survey was addressed to practitioners. The students’ surveys were administered during classes. The practitioners’ survey was administered in two different instances. First, surveys were sent to the members of the Accounting Department Advisory Board soliciting their help with administering the survey in their respective firms. Second, during a technical presentation to the Central Arkansas Society of CPAs, Dr. Oliva administered the survey to the CPAs in attendance.

As indicated in Exhibit 5, In terms of results, the survey was administered to 178 individuals, e.g., 132 students and 46 practitioners. The results indicate that 76% of the students and 57% of the practitioners surveyed indicated an interest in attending one of the graduate certificate programs. As a whole, 49% of those surveyed indicated an interest in the Accountancy certificate, 16% in the Tax certificate, and the remainder 35% in both programs. Noticeable in the responses is that the practitioner as a group is 2.5 times more likely to attend the Tax program than the students, e.g., 30% against 12%. These results indicate a strong support for both programs.

B. Pre-Launching assessment

In essence, the program objectives were designed based on Dr. Oliva’s experience in his prior position, from informal discussions with local firms, and from the practitioners’ surveys mentioned immediately above under “Demand Assessment”.

Prior to joining UALR as Department Chairperson, Dr. Oliva was the Faculty Director for Graduate Tax programs at Florida International University (FIU). Prior to that he also served as the assistant to the Director, School of Accounting at FIU, where both the Accounting and Tax programs are located. In those capacities, he was instrumental in designing program objectives for both the accounting and taxation graduate program. These activities included, literature reviews, survey designed based on the literature review, focus groups, and benchmark comparisons with schools similarly situated. Based on those activities, program objectives were adopted along with the courses and the courses’ learning objectives. These objectives were then used to design the assessment plans for said programs. Most of the program design, learning objectives, and assessment plans are based on Dr. Oliva’s experience at FIU.

To modify the current assessment plans to local conditions, Dr. Oliva conducted informal meetings with the managing partners and/or principals of local accounting firms. This was then followed by a survey of practitioners designed not only to assess prospective demand but also local preferences. For instance, when given a choice between exposure to international taxation or exposure to state and local taxation, South Florida practitioners chose international taxation but practitioners in Little Rock preferred exposure to state and local taxation.

C. Program Assessment

Assessments will be conducted through a triangulation process consisting of course imbedded tools; surveys; and informal interviews. Course imbedded assessment will take place in each course by having students’ performance tested through examinations, written assignments, oral presentations, and research problems (See Exhibit 1 – Assessment tool.). In addition, students, alumni, and employers will be asked to complete the survey instruments located at Exhibits 6, 7, and 8. Lastly, as part of its continuing outreach activities with the accounting firms, the Department will request feedback on the graduate certificate program.

While consideration will be given to provide a web based data collection system, e.g., Survey Monkey, in the event of low participation, students’ surveys will be collected in the classroom and graduate assistants will administer such surveys. Data collection from alumni and from employers will be accomplished, whenever possible, by or through the auspices of the members of the Department of Accounting’s Advisory Board in each firm, e.g., partners, controllers, and senior managers. However, alumni will be able to return the surveys directly through the mail. In addition, other methods will be used, e.g., direct mailings, distribution at professional meetings, and/or added as a regular activity when the Chairperson’s visits the firms.

6. Reliability/Validity

A. The assessment instruments at Exhibits 2, 3, and 4 include a short demographical section to control for unusual differences, e.g., type and quality of undergraduate education, existence of graduate degrees, and experience.

B. A substantial part of the assessment is based on outcomes to be observed after program completion by employers, who are likely to be more objective than students and alumni. C. It is expected that the instrument will not change, but if a question were to be modified, any changes will be designed so that any new question captures or measures the same variable that the original question intended to measure.

D. This is a longitudinal study in that the various groups are being measured almost on a yearly basis, e.g., students are assessed at entry and at exit, alumni every two years, and employers every year. As long as the questions are measuring the intended objective, the use of the same instrument over the years should increase reliability and validity.

7. Follow-up Assessment: This is a longitudinal study in that the various groups are being measured almost on a yearly basis. Students are subjected to course imbedded assessments in every semester, surveys assessments at the completion of the program and, as alumni, survey assessments every two years thereafter. Hence, considering a starting date of Fall 2006, admissions every semester, and the first cohort completing the program in the Spring 2007, the first alumni survey will be conducted during Spring 2009. On the other hand, employers will be assessed every two years starting in the Summer 2008. As long as the questions are measuring the intended objective, the use of the same instrument over the years should increase reliability and validity.

SEMESTER STUDENTS’ STUDENTS’ ALUMNI’S EMPLOYERS’ COURSES SURVEYS SURVEYS SURVEYS FA 06 SP 07 X Cohort 1 SU 07 X Cohort 2 FA 07 X Cohort 3 SP 08 X Cohort 4 SU 08 X Cohort 5 X FA 08 X Cohort 6 SP 09 X Cohort 7 Cohort 1 SU 09 X Cohort 8 Cohort 2 X FA 09 X Cohort 9 Cohort 3 SP 10 X Cohort 10 Cohort 4 SU 10 X Cohort 11 Cohort 5 X FA 10 X Cohort 12 Cohort 6 SP 11 X Cohort 13 Cohorts 7 and 1 SU 11 X Cohort 14 Cohorts 8 and 2 X FA 11 X Cohort 15 Cohorts 9 and 3 8. Use for Program Improvements:

Other than the demographical questions, weighted averages will be computed for each question in the assessment instruments. As a “3” signifies “agreement” or “satisfaction” with each statement, each question must achieve a weighted average of 3.00 or better. Any question receiving less than 3.00 will be investigated and action taken to achieve a score higher than 3.00 during the next assessment wave.

Assessment results will be notified to students and other stakeholders through the electronic Department of Accounting’s newsletter currently being sent on a monthly basis to students and some employers. In the Fall 2006, the Department plans to start a more formal newsletter to be sent to all alumni and all prospective employers. Assessment results will be included therein. EXHIBIT 1 Mapping of Graduate Certificate in Taxation with Program’s Learning Outcomes

SKILLS SET COURSES RESEARCH PRACTICE ANALYTICAL Research, Outcome #1: Foundation in the Outcome #1: Hands on Practice and legal environment affecting taxation, experience in advocacy legal Procedure including the legislative and and writing through the writing of regulatory framework. various tax memoranda (Core) Emphasis: Moderate Emphasis: Extensive Assessment tools: Exams Assessment tools: Written research memoranda;oral presentations. Research, Outcome #2 Hands on knowledge Outcome #2: Familiarity with the Practice and of state of the art tax research ethical rules affecting the practice Procedure methods. of taxation. Emphasis: Extensive Emphasis: Moderate (Core) Assessment tools: Research projects Assessment tools: Written research memoranda Research, Outcome #3: Application of tax Outcome #3: Familiarity with the Practice and research tools. rules administering the practice of Procedure Emphasis: Extensive taxation before the Internal Assessment tools: Research Revenue Service (Circular 230). (Core) projects; oral presenations; written Emphasis: Moderate papers. Assessment tools: Exams Research, Outcome #4: Familiarity with the Practice and various rules and laws affecting Procedure the practice before the IRS, including examinations and (Core) appeals. Emphasis: Moderate Assessment tools: Exams Federal Outcome #1: Familiarity Corporate with the federal tax laws Taxation affecting Subchapter C corporations, with emphasis on tax planning. Emphasis: Moderate Assessment tools: Exams; oral and written presentations. Taxation of Outcome #2: Familiarity Pass- with federal tax laws Through affecting partnerships, S Entities corporations, and other pass-through entities. Emphasis on tax planning. Emphasis: Moderate Assessment tools: Exams; oral and written presentations. State and Outcome #3: Familiarity Local with the federal and state Taxation constitutional limitations on state and local taxation, with emphasis on tax planning. Emphasis: Moderate Assessment tools: Exams; oral and written presentations. Exhibit 2 Students’ Survey

GRADUATE PROGRAMS IN TAXATION AND/OR ACCOUNTING AT U.A.L.R.? To provide a better educational experience for students desiring to complete the required 30 additional hours and to provide a more advanced foundation to a professional career, the Department of Accounting at U.A.L.R. is considering initiating a 4-course (12 hours) Graduate Certificate in Accounting and/or a Graduate Certificate in Taxation, to start in the Fall 2006. Later, a Masters’ in Accounting and/or Taxation may be considered. Certificate students may be admitted to such program(s), or the MBA, without a GMAT and may be given credit for completed certificates courses. To assess your support for these programs please answer the following questions by circling your answers or entering information.

1. Are you a CPA? a. Yes, and I have been practicing for: (1)< 2 years (2) 2 to 4 years (3) 4 to 6 years (4) >6 years b. Yes, but I do not practice as a CPA. I am currently involved in ______c. No. I plan to sit for the exam in: (1)< 9 months (2)9 to 18 months (3)> 18 months (4) Never

2. Which of the educational programs below are you currently undertaking? a. Leading to an undergraduate degree in Accounting, expected completion: (1)<1 year (2)> 1year b. Leading to a graduate degree, expected completion: (1) <1 year (2) >1 year Degree______c. No formal program but taking courses to qualify to sit for the CPA exam. d. I am not undertaking an educational program at this time but I have a degree in ______

3. I am most likely to be interested in the Graduate Certificate in a. Accounting b. Tax c. Both d. None. If “d” please stop and submit the survey. If you answered a, b, or c, please continue and enclose a business card or write your regular and email address on the back to keep you posted of our progress:

4. If I were to enroll in one of these programs, it would be in the a. Fall 2006 b. Spring 2007 c. Summer 2007 d. After Summer 2007

5. If I were to enroll in one of these programs, I would prefer Fall semester classes to be scheduled a. As usual, e.g., one night per week, for entire semester. b. Like a short Summer term, e.g., two mini Falls. One course = 2 nights per week for 7 weeks. c. Friday nights, for 14 weeks, from 6:00 PM to 8:40 PM. (one course) d. Saturday mornings, for 14 weeks, from 8:00 AM to 10:40 AM (one course) e. Saturday mornings, for 14 weeks, from 10:50 AM to 1: 20 PM (one course)

6. If I were to enroll in one of these programs, I would prefer Spring semester classes to be scheduled a. As the Fall semester (#5) above b. For 7-weeks starting right after New Year’s (no classes during tax season, 2/15 to 4/15). c. For 7-weeks starting right after April 15 (no classes during tax season, 2/15 to 4/15). d. I would not attend during the Spring semesters.

7. If I were to enroll in one of these programs, it is likely that I would take a. one course per semester b. two courses per semester

8. Three of the courses in the Certificate in Taxation are expected to be Federal Tax Research, Corporate Taxation, and Taxation of Pass-Through Entities. Which should be the 4th course? a. International c. Tax Planning e. Suggestion? ______b. State and Local d. IRS Practice/Procedure

9. Three of the courses in the Certificate in Accounting are expected to be Advanced Accounting Information Systems, Advanced Managerial, Advanced Auditing. Which should be the 4th course? a. Advanced International c. Accounting Research b. Advanced Governmental d. Suggestion?______EXHIBIT 3

PRACTITIONERS’ COVER LETTER

Dear

A few weeks ago when we met I asked you whether you might be able to distribute a graduate program survey to your professional employees. Since then, as result of various meetings with our faculty and students, we have produced the enclosed one-page/8 questions survey. It should take less than five (5) minutes to complete. We would greatly appreciate it if you would distribute it among your professional employees and ask them to complete it and submit it to us in the stamped self-addressed envelope attached to each survey. As we are trying to determine the best course delivery time and most needed course electives, we would appreciate it if the survey could have the widest distribution among your professional employees, irrespective of whether they may be interested in attending one of our graduate programs.

As always, your help is most appreciated. Thank you.

Please let me know if you have any questions.

Sincerely,

Robert R. Oliva, Ph.D. Chairperson, Department of Accounting EXHIBIT 4 PRACTITIONERS’ SURVEY

GRADUATE PROGRAMS IN TAXATION AND/OR ACCOUNTING AT U.A.L.R.?

To members of the profession:

The Department of Accounting at U.A.L.R. is conducting an assessment of the community’s needs and desires for a four-course Graduate Certificate in Taxation and/or a Graduate Certificate in Accounting, scheduled to start in the Fall 2006. If the program(s) are well received, a Masters’ in Accounting and/or Taxation will be considered. Based on their performance, certificate students may be admitted to the MBA (or a Masters’ in Accounting or Taxation, if available) and may be given credit for any completed certificates courses. As the official approval and characteristics of any graduate program depends substantially on market demand, we would appreciate if you would answer the following five questions by circling your choices and return this page in the enclosed envelope.

1. Three of the courses in the Certificate in Taxation are expected to be Federal Tax Research, Corporate Taxation, and Taxation of Pass-Through Entities. Which should be the 4th course? a. International c. Tax Planning e. Suggestion? ______b. State and Local d. IRS Practice/Procedure

2. Three of the courses in the Certificate in Accounting are expected to be Advanced Accounting Information Systems, Advanced Managerial, Advanced Auditing. Which should be the 4th course? a. Advanced International c. Accounting Research b. Advanced Governmental d. Suggestion?______

3. I am most likely to be interested in a. The Graduate Certificate in Accounting b. The Graduate Certificate in Taxation c. Both programs d. None of the programs If interested please enclose a business card or write your regular and email address in the space below so that we may keep you posted of our progress:

4. If I were to enroll in one of these programs, it would be in the a. Fall 2006 b. Spring 2007 c. Summer 2007 d. After Summer 2007

5. If I were to enroll in one of these programs, I would prefer Fall semester classes to be scheduled a. One night per week, Monday-Thursday, for 14 weeks, from 6:00 PM to 8:40 PM. If taking 2 courses, they will last the whole semester b. Two nights per week, Monday-Thursday, for 7 weeks, from 6:00 PM to 8:40 PM. If taking two courses, they will be taken one at a time, e.g., 7 weeks each.. c. Friday nights, for 14 weeks, from 6:00 PM to 8:40 PM. (one course) d. Saturday mornings, for 14 weeks, from 8:00 AM to 10:40 AM (one course) e. Saturday mornings, for 14 weeks, from 10:50 AM to 1: 20 PM (one course)

7. Normally, if I were to enroll in one of these programs I would take a. one course per semester b. two courses per semester EXHIBIT 5

COMBINED SURVEY RESULTS

Which Graduate Certificate program?

Total Which? Accounting Tax Both All "Yes" "Yes" Total "No" Total Students 53 12 35 100 100 32 132 % 0.53 0.12 0.35 0.76 0.24 CPAs 9 8 9 26 26 20 46 % 0.35 0.3 0.35 0.57 0.43 All 62 20 44 126 126 78 178 % 0.49 0.16 0.35 0.71 0.29

Which semester will the student start?

Begin? FA06 SP07 SU07 > SU07 Total Students 49 27 6 14 96 % 0.51 0.28 0.06 0.15 CPAs 8 7 7 2 24 % 0.33 0.29 0.29 0.08 All 57 34 13 16 120 % 0.48 0.28 0.11 0.13

Which is the best form to offer classes in the Fall?

FA: How? Traditional 2 minis Fr nights Sat AM 1 Sat AM 2 Students 50 33 4 6 7 100 % 0.5 0.33 0.04 0.06 0.07 CPAs 14 7 0 3 5 29 % 0.48 0.24 0 0.1 0.17 Total 64 40 4 7 12 129 % 0.5 0.31 0.03 0.06 0.09

Which is the best form to offer classes in the Spring?

Min > 4/15 SP: How? Traditional 2 minis Fr nights Sat AM 1 Sat AM 2 Mini < 2/15 Total Students 47 24 4 6 10 4 95 % 0.49 0.25 0.04 0 0.06 0.11 0.04 CPAs 19 2 6 27 % 0.7 0.07 0.22 Total 66 24 4 0 6 12 10 122 % 0.54 0.2 0.03 0 0.05 0.1 0.08 How many courses will you take each semester?

How many? 1 course 2 courses Total Students 38 61 99 % 0.38 0.62 CPAs 18 10 28 % 0.64 0.36 Total 56 71 127 % 0.44 0.56

Which should be the 4th Tax course?

4th Tax? International SALT Planning Procedure Total Students 5 26 44 23 98 % 0.05 0.27 0.45 0.23 CPAs 2 17 7 5 31 % 0.06 0.55 0.23 0.16 Total 7 43 51 28 129 % 0.05 0.33 0.4 0.22

Which should be the 4th Accounting course?

4th ACC? International Government Research Total Students 13 38 40 91 % 0.15 0.41 0.43 CPAs 6 13 11 30 % 0.2 0.43 0.37 Total 19 51 51 121 % 0.16 0.42 0.42 EXHIBIT 6 STUDENTS’ SURVEY Graduate Certificate in Taxation

Please indicate whether you agree or disagree with the following statements by ranking your answer from zero (0) to five (5), with zero (0) being the rank to indicate very strong disagreement, and a rank of five (5) to indicate very strong agreement.

A. The following are the reasons that prompted me to attend the Graduate Certificate in Taxation:

Very strong Strong Disagreement Agreement Strong Very strong disagreement disagreement agreement agreement 0 1 2 3 4 5 1 Fulfill educational 0 1 2 3 4 5 requirements to take the CPA exam 2 Fulfill professional 0 1 2 3 4 5 designation requirements 3 Short program duration 0 1 2 3 4 5 4 Short commuting 0 1 2 3 4 5 5 Limited number of pre- 0 1 2 3 4 5 core requirements 6 No GMAT or other 0 1 2 3 4 5 national exam required 7 Completion of a 0 1 2 3 4 5 graduate tax program. 8 Obtain a Tax 0 1 2 3 4 5 concentration in the MBA. 9 Undertake studies after 0 1 2 3 4 5 completion of undergraduate degree 10 Undertake studies after 0 1 2 3 4 5 completion of MBA or other Master’s 11 Undertake studies after 0 1 2 3 4 5 completion of JD degree 12 To undertake additional 0 1 2 3 4 5 degree 13 Orderly graduate 0 1 2 3 4 5 program in professional area 14 To undertake required 0 1 2 3 4 5 courses not previously taken 15 To obtain educational 0 1 2 3 4 5 foundation to enter a professional field 16 To obtain educational 0 1 2 3 4 5 foundation to facilitate career progression 17 To meet Continuing 0 1 2 3 4 5 Professional Education (CPE)

B. Please place a mark next to the course you have taken.

GRADUATE CERTIFICATE COURSES COMPLETED NOT COMPLETED Federal Tax Research, Practice and Procedure Federal Corporate Taxation Taxation of Pass-Through Entities State and Local Taxation

C. Please indicate whether you agree or disagree with the following statements by ranking your answer from zero (0) to five (5), with zero (0) being the rank to indicate very strong disagreement, and a rank of five (5) to indicate very strong agreement.

Very strong Strong Disagreement Agreement Strong Very strong disagreement disagreement agreement agreement 0 1 2 3 4 5 1 The courses taken in 0 1 2 3 4 5 the graduate certificate program provided me with a solid foundation in the legal environment affecting taxation as well as the ethical rules affecting the practice of taxation 2 The courses taken in 0 1 2 3 4 5 the graduate certificate program provided me with a hands on knowledge of state of the art tax research methods to assist students in providing tax planning to their clients as well as representing those clients before the IRS. 3 The courses taken in 0 1 2 3 4 5 the graduate certificate program provided me with a hands on experience in advocacy legal writing through the writing of various tax memoranda. 4 The courses taken in 0 1 2 3 4 5 the graduate certificate program provided me with familiarity in the rules administering the practice before the Internal Revenue Service and the various federal income tax provisions applicable to filing, examination, and appeals. 5 The courses taken in 0 1 2 3 4 5 the graduate certificate program provided me with familiarity in the federal income taxation provisions affecting the formation, operation, liquidation, acquisition, and reorganization of Subchapter C corporations, with an emphasis on tax research and tax planning. 6 The courses taken in 0 1 2 3 4 5 the graduate certificate program provided me with familiarity in the federal income taxation provisions affecting small business entities, with emphasis on partnerships, limited liability companies and S corporations; including the choice, formation, and operation of above as well as distributions, sales, and exchanges of ownership in interests and transfers by death, with emphasis on research and tax planning. 7 The courses taken in 0 1 2 3 4 5 the graduate certificate program provided me with familiarity in the constitutional, statutory, regulatory, and judicial principles affecting state and local taxation of business transactions, with emphasis on Arkansas taxation and on research and tax planning.

D. Please circle the answer that best describes your experience: 1. Undergraduate major: I have an undergraduate degree in a. Accounting. b. Finance. c. Information Systems. d. Other business field. Please indicate______e. Outside of the business field. Please indicate______

2. Alma mater: I received the undergraduate degree in business indicated in 1 (a to d) above from a. The University of Arkansas (Fayetteville) b. The University of Arkansas at Little Rock c. The University of Central Arkansas d. Other AACSB accredited college of business e. A non-AACSB accredited college of business

3. I graduated with the undergraduate degree in business indicated in 1 (a to d) above a. One year ago b. Two years ago c. Three years ago d. Four years ago e. More than 4 years ago. Please indicate the numbers of years since graduation:______

4. In addition to the undergraduate degree indicated in 1 above, I have a a. Masters in Accounting b. Masters in Taxation c. Juris Doctor d. Other graduate or undergraduate degree. Please indicate______e. No graduate degree.

5. In terms of Accounting or Taxation experience, I have the following years of experience: a. Four or more. Please indicate the number of years______b. Three c. Two d. One e. Less than one EXHIBIT 7 ALUMNI SURVEY Graduate Certificate in Taxation

When did you graduate? 2007_____ 2008_____ 2009_____ 2010_____ 2011______2012______

A. Did the graduate certificate program you attended meet your initial needs for attending?

Please rank the order of your satisfaction from a zero (0) to five (5), with zero (0) being the rank for being “very high dissatisfaction” and five (5) being the rank for being “very high satisfaction” by making a mark in the appropriate space. Your assessment of the level of satisfaction should be based on your own personal experience.

Very high High Not Satisfied High Very high dissatisfaction dissatisfaction satisfied satisfaction satisfaction 0 1 2 3 4 5 1 Fulfill educational 0 1 2 3 4 5 requirements to take the CPA exam 2 Fulfill requirements for 0 1 2 3 4 5 professional designation 3 Short program duration 0 1 2 3 4 5 4 Short commuting 0 1 2 3 4 5 5 Limited number of pre-core 0 1 2 3 4 5 requirements 6 No GMAT or other national 0 1 2 3 4 5 exam required 7 Obtain a Tax concentration 0 1 2 3 4 5 8 To meet Continuing 0 1 2 3 4 5 Professional Education (CPE) 9 Undertake studies after 0 1 2 3 4 5 completion of undergraduate degree 10 Undertake studies after 0 1 2 3 4 5 completion of MBA or other Master’s 11 Undertake studies after 0 1 2 3 4 5 completion of JD degree 12 To undertake additional 0 1 2 3 4 5 degree 13 Orderly graduate program in 0 1 2 3 4 5 professional area 14 To undertake required courses 0 1 2 3 4 5 not previously taken 15 To obtain educational 0 1 2 3 4 5 foundation to enter a professional field 16 To obtain educational 0 1 2 3 4 5 foundation to facilitate career progression

B. What was the value added to your professional development by attending the graduate certificate program?

Please rank the value of your graduate certificate program experience from zero (0) to five (5) by indicating a very strong disagreement with a 0 and a very strong agreement with a 5.

Very strong Strong Disagreement Agreement Strong Very strong disagreement disagreement agreement agreement 0 1 2 3 4 5 1 Comparing the level 0 1 2 3 4 5 of my Taxation education before and immediately after the graduate certificate program, its completion added significant value to my Taxation education. 2 My graduate 0 1 2 3 4 5 certificate program experience continues to have educational value two (2) years after its completion. 3 My graduate 0 1 2 3 4 5 certificate program experience continues to have educational value four (4) years after its completion. 4 Comparing the level 0 1 2 3 4 5 of my career development before and immediately after the graduate certificate program, its completion significantly enhanced my career development. 5 Comparing the level 0 1 2 3 4 5 of my career development before and two years after the completion of the graduate certificate program, its completion significantly enhanced my career development. 6 Comparing the level 0 1 2 3 4 5 of my career development before and four years after the completion of the graduate certificate program, its completion significantly enhanced my career development. 7 Comparing my level 0 1 2 3 4 5 of income before and immediately after completion of the graduate certificate program, its completion significantly enhanced my level of income. 8 Comparing my level 0 1 2 3 4 5 of income before and two (2) years after completion of the graduate certificate program, its completion significantly enhanced my level of income. 9 Comparing my level 0 1 2 3 4 5 of income before and four (4) years after completion of the graduate certificate program, its completion significantly enhanced my level of income. 10 The graduate 0 1 2 3 4 5 certificate program met my expectations. 11 The graduate 0 1 2 3 4 5 certificate program represents a good investment when comparing its expense to the educational value received. 12 I am likely to 0 1 2 3 4 5 recommend the graduate certificate program at UALR to a colleague, friend, or family member desiring to enter a graduate certificate program.

C. Lastly, please circle the answer that best describes your experience:

1. Undergraduate major: I have an undergraduate degree in a. Accounting. b. Finance. c. Information Systems. d. Other business field. Please indicate______e. Outside of the business field. Please indicate______

Please answer the following questions IF you have hired UALR’s students and/or alumni with a 4-year degree or with a Graduate Certificate in Taxation. Please rank your hiring experience from 0 to five (5) by indicating a very strong disagreement with a 0 and a very strong agreement with a 5.

Very strong Strong Disagreement Agreement Strong Very strong disagreement disagreement agreement agreement 0 1 2 3 4 5 1 We have experienced an 0 1 2 3 4 5 increase in the number of yearly UALR’s hires since the beginning of the Department of Accounting’s Graduate Certificate in Taxation in September 2006. 2 The UALR hires that 0 1 2 3 4 5 have completed the Graduate Certificate in Taxation exhibit better preparation in Taxation than those UALR hires without a Certificate in Taxation. 3 Considering your firm’s 0 1 2 3 4 5 employees that initiated their professional careers during the past five (5) years, those that completed a graduate program in Taxation, e.g., the Graduate Certificate in Taxation, are likely to exhibit a faster career progression than those that have not completed a graduate program. 4 Our hires from the 0 1 2 3 4 5 UALR’s Graduate Certificate in Taxation program have met our expectations 5 We are likely to 0 1 2 3 4 5 continue hiring from the UALR’s Graduate Certificate in Taxation program.