<p>I have been selected to participate in the Strobel Honors Accounting Program and I was wondering how this program is and what type of reputation this program has viewed by others. The reason I'm asking is because by the end of my senior year, I will most likely go to MSU (currently living in Michigan) mainly because of the in-state tuition and for its decent business school (accepted with accounting major? probably have to apply for undergraduate school sophomore year). Also the tuition cost of state is cheaper than depaul ( around $15,000 vs $30,000 tuition without room & board). And which would be a better option for business school, Michigan State or Depaul? Any help would be appreciated</p>
<p>Could anyone provide me information about this program?</p>
<p>Hey Strobel Invitee,</p>
<p>As a graduating Strobel Honors Accounting student, I will tell you about the Strobel Honors Program (and DePaul) and then you can decide. I will tell what the truth is about DePaul and the Strobel Honors Program, since there are many people with biases. My credibility comes from my achievements:</p>
<p>Background:
-Strobel Honors Scholar w/ Straight A’s (except one class)
-Double Major & Minor during 4 years @ DePaul (234 credit hrs- to meet CPA req of 225)
-Accountancy - Honors / Management-Entrepreneurship / Minor- Economics
-Sitting for all parts of CPA Exam in May
-GPA: 3.95/4.00</p>
<p>1) Reputation & Status as a Strobel Scholar:
Strobel Scholars are highly reputable and sought-after accounting graduates in Illinois (Chicagoland Area) and across the United States. You are seen as the brightest and most exceptional among business major students (and other accounting students). Such is why it is an Invitation Only. Nearly, if not all, Strobel Scholars obtain secured jobs before they graduate, often with multiple offers - or- are accepted to high ranking graduate school (Duke, Columbia, DePaul etc). You are expected to maintain high grades (B- or above in all Accounting Classes - which are designated for Honors Only students). Thus, upon fall quarter of Senior Year, Strobel Scholars are sought after first among DePaul (of Loyola, NorthWestern, U of I etc) accounting grads. </p>
<p>2)Education as a Strobel Scholar (how it differs from normal Accountancy Major):
Rigorous…aka you will be set to take the CPA Exam (still need studying of course) by end of the 4 years, as midterms and finals within Strobel make the CPA questions look easy (tentatively the exams contain previous CPA exam question). As the CPA Certification is regarded as the HARDEST designation to obtain, this says something about the Strobel Program. You start your accounting coursework first quarter Freshman year. Every accounting course you take is designated as Honors, with special curriculum per course. Program starts off usually with 120 Strobel students, and drops to 35 or less by end of senior year (due to inability to handle rigorous courses, major transfer, or kicked out due to grades). The Strobel class usually could average 10% - 20% higher on midterms and finals to non-honors accounting students if taking same exam (Strobel exams are set to be more difficult). As a Strobel Scholar, you get to pick you classes first each quarter before all other DePaul students, out of necessity that you are able to schedule the Honor’s course. Basically, as I see it, one of the BEST accounting educations in the country.</p>
<p>You will have to bust you butt, but it is worth it in the end. You may complain for how hard the tests hard, how hard the material is, but in time you will grasp it and it will serve its purpose. Accounting is the BEST business degree you can get, for in encompasses finance, economics, and management. Essentially you have a degree in each of those because you are in accounting. Don’t switch majors because it it tough, because the toughness is why so few people major in accounting. Few have the ability.</p>
<p>3) Being a Strobel Scholar:
Awesome. You get to know everyone and become friends with the Strobel class. You progress together, so you will know everyone. One you become a Senior and only 40 Strobel students remain, you know everyone personally which is awesome. You help each other out when it comes to HW, studying for exams, and on in other business courses. Professors are Top-Ranked professionals, most from the Big 4 accounting firms. They test hard, but are the nicest professors in DePaul. They WANT you to succeed and fully prepare you for the CPA Exam. You get to know them personally and they become connections for the remainder of your accounting career.</p>
<p>4) My End Thoughts
Don’t let the tuition sway you away from DePaul and the Strobel Honor’s Program. If in need of financial assistance, DePaul is amazing at aiding those in need. The Accounting program and Strobel Honors have their own Alumni association called Ledger & Quill (L& Q referred to as), which also aids extraordinarily. if need to take federal student loans, take them for you be able to pay them back quick with your degree. </p>
<p>Any questions let me know. I hope this helped!!</p>
<p>Hi, I have also been accepted to the Strobel Honors. I did designate accounting as my major and I’m sure I was invited because of my strong test scores and GPA. However, I really do not know much/anything about accounting. I have not looked into it much at all, and have been planning on starting to in the summer.</p>
<p>If I have not studied accounting prior to freshman year as a Strobel scholar, will I be putting myself at a big disadvantage and in trouble? Will the Strobel program expect incoming students to KNOW about accounting and everything? Or can you be a complete beginner and that is okay?</p>
<p>Also, what are the average high school stats of a strobel scholar if that information is available?</p>
<p>And, if one decides that the strobel program/accounting major is not for them, can they simply leave the program and go into something else without any repercussions?</p>
<p>Well, those are interesting questions. I’ll describe what accounting is in a second, but concerning if you are at a disadvantage not having any prior accounting experience, no you are not. Most accounting students, even Strobel Scholars, have never taken an accounting course prior to college. Furthermore, even if they have had taken a course, they would not be at an advantage because the first accounting class you will take your fall freshman quarter, is Intro to Financial Accounting I. A high school or community college is not comparable, for the concepts are far and beyond in the college course (especially Strobel Honors). It is meant that you have no prior knowledge of accounting, and the professors are aware of that. I never took any accounting courses before I began my Strobel Academia, never knew what a Debit or Credit was etc, and yet I am at the top of my Strobel class. Effort and resilience to learn the stuff is what matters. </p>
<p>If you decide to leave Strobel, I would suggest otherwise, unless a Business Degree is not for you. Accounting is unique for it is the hardest business degree to get, and few are able to. If you leave for finance, or management, I’d say simply push through with accounting or double major, because accounting contains finance and management. However, if you decide to leave the Strobel Honors Program, there are no repercussions. You will not be desginated Strobel Honors or a Strobel Scholar if you do not complete all 4 years. Also you will lose your status and ability to choose courses before all other students. Last, once you will you cannot get back in. </p>
<p>What is Accounting:???</p>
<p>A Very GREAT question. Most think accounting is numbers or tax, to which that is the COMPLETE OPPOSITE of what accounting is. If you know how to add, subtract, multiple, and divide, you can do the math portion of accounting. What accounting TRULY is, is conceptual analysis. It is solving a puzzle, with possible no numbers or a concept that is all numbers (yet, you need to know what the numbers mean, the accounts associated with the numbers since numbers are not just numbers, and the basis behind the numbers). What makes accounting so masterful is the content within. Accounting is a broad term that has over 10 categories…
- Financial Accounting and Reporting
- Internal Auditing
- Public Auditing (differs from Internal Auditing)
- Actuarial
- Cost Accounting (differs from Financial Accounting)
- Taxation (Individual and Corporate)
- Financial Analysis
- Investment
- Forensic Accounting (differs from auditing)
- Forensic taxation (IFRS)</p>
<p>You will be qualified to apply for all these careers, plus many more. As you can see, it is not just tax or numbers. </p>
<p>****Example Accounting Question (i just made it up, very basic and general fin. accting):</p>
<br>
<br>
<p>Intel Corp. bought $5,000 of Inventory on July 31, 20XX. Beginning Inventory for 20XX was $100,000, and Intel sold $15,000 of Inventory on November 15th, 20XX, to outside 3rd party for $20,000. What is Ending Inventory and Relating entries to record the transactions?</p>
<p>Beginning Inventory + Purchases - COG (Cost of Goods Sold) = Ending Inventory
$100,000 + $5,000 - $15,000 = $90,0000</p>
<p>ON July 31st, 20XX: (record purchase of inventory)</p>
<p><em>If Paid Cash *</em>If Paid with Credit<br>
Debit Credit Debit Credit
Inventory 5,000 Inventory 5,000
Cash 5,000 Accounts Payable 5,000</p>
<p>ON Nov. 15th, 20XX: (record sale, reduction in Inventory, and record gross profit)</p>
<p><em>If sale was in Cash *</em>If sale was Credit
Cash 20,000 Accounts Receivable 20,000
Sales 20,000 Sales 20,000</p>
<p>COGS 15,000
Inventory 15,000</p>
<p>Now so that Intel paid off the credit purchase on August 20th, 20XX, and Intel’s customer paid off their credit to Intel on December 10th, 20XX??</p>
<p>ON August 20th, 20XX:</p>
<p>Accounts Payable 5,000
Cash 5,000</p>
<p>ON December 10th, 20XX:</p>
<p>Cash 20,000
Accounts Receivable 20,000</p>
<p>wow thank you for the great response, I thought i never would have receive a reply. After reading your response, now I’m seriously considering taking up the program, will now arrange a visit to Depaul over break.</p>
<p>I work in admission at DePaul. If you are looking to schedule a visit, I would recommend contacting <a href=“mailto:visitdpu@depaul.edu”>visitdpu@depaul.edu</a> or calling 773-325-7500. We have an admitted student day for Commerce coming up on Mar 9th which would be a great opportunity for you to meet with professors in your program and learn more about your specific major. It will also feature tours, students panels and information about the different clubs on campus. We also offer our regular presentation and tour Monday-Saturday.</p>
<p>Best,
Jordan Myers
<a href=“mailto:jmyers17@depaul.edu”>jmyers17@depaul.edu</a></p>
<p>I can see Strobel students are well off after graduation but I was wondering what the program’s reputation is outside of Chicago Area.</p>
<p>Many of the firms recruiting students from Strobel are nationally known firms such as Deloitte, Pricewaterhouse Cooper, etc. The DePaul business program overall is very well respected nationwide and is ranked in the top 40 programs in the nation with the accounting program being one of the top programs for undergrads.</p>
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<p>If you are interested in the program, read what DePaulAcctngGrad wrote again. My D was invited into the program, didn’t want to, but then wondered if she made the right decision. Now she is so gald she didn’t enter the program. She knows several freshman who were in the program and all have dropped out. I believe that they have all even fled the College of Commerce.</p>
<p>So if you know you want to be a CPA and are up for lots of rigor, go for it. But know that it will be crazy hard. I’m not saying it’s not good for the very focussed and dedicated student. It’s just not for everyone (i.e. not for 85 out of every 120 students.)</p>
<p>What do you guys think. Strobel, IU Kelley School, or U of I College of Business? I am from Chicago and trying to decide between the three.</p>
<p>I recently decided to go to depaul and i was invited to join the strobel honors program. However, when i e-mailed the school to confirm, they said seating was full and i had been waitlisted. What are my chances of getting in now? Not getting into this program makes me seriously reconsider if DePaul is the right choice for me.</p>
<p>Hi Blaackmamba, </p>
<p>I know that space is limited in the Strobel program. If getting into that program is make or break for you to attend the school, I would let the coordinator, Sarah Whittemore, know. You probably received an email from her. If not, you can reach her at <a href=“mailto:SWHITTEM@depaul.edu”>SWHITTEM@depaul.edu</a>. </p>
<p>Best,
Jordan Myers
DePaul Office of Admission
<a href=“mailto:jmyers17@depaul.edu”>jmyers17@depaul.edu</a></p>