Florida Gulf Coast University (FGCU)

Interoffice Memo
To:

Dominic Volpi, SGA President

From:

Michael Gervase

Date:

March 14, 2016

Subject:

Request for Approval and Funding for an Accounting

Society Certified Public Accountant (CPA) Scholarship
The Wiley CPAexcel Scholarship

CC:

Dr. Michele Yovanovich, Dean of Student Affairs

Dr. J. Mike Rollo, the Vice President of Student Affairs

The purpose of this memorandum is to seek approval for a

partnership and $10,000 funding to support a new scholarship
program the Accounting Society is proposing for Spring 2017. Our
objective is to increase the first-time pass rate on the Certified Public
Accountant (CPA) exam of FGCU graduates. A partnership with the
SGA would provide not only FGCU accounting students the financial
opportunity to aid in obtaining the highest professional distinction of
CPA, but would put FGCU on the map for being the first school in
Florida to offer scholarships for graduates in this career.

Background

Dominic Volpi

March 14, 2016

The Accounting Society offers FGCU students a chance to network

with members of our community from accounting and finance
professions. Through monthly workshops these professionals are
invited to our campus to share personal endeavors, serve to educate
students about various professional opportunities, provide
interviewing tips, and aid in professional resume building, all in an
informal environment. Although networking has proven to offer our
graduates tremendous benefits, we are still in need of a program that
will help our accounting students earn the highest professional
distinction in the designation of Certified Public Accountant (CPA)
(Fisher 2016).

In addition to meeting stringent educational and ethical

requirements, CPAs must pass a series of four examinations covering:
Auditing and Attestation (AUD), Business Environment and Concepts
(BEC), Financial Accounting and Reporting (FAR), and Regulation
(REG) (Fisher 2016). With a current first-time CPA exam pass rate of
50% for FGCU candidates with a bachelors degree, we are falling
short of the Florida average of 55% and the University of Floridas
85% average pass rate (NASBA 2016). Our proposal is to offer
scholarships to accounting graduates of FGCU to cover 50% or $745
toward the cost of the Wiley CPAexcel platinum CPA preparatory review
course program in order to obtain a school goal of reaching the
minimum state pass rate of 55% and to eventually fall within the top
five Florida passing schools (Johnson 2016). In order to accomplish
this goal, I am asking FGCU to provide $10,000.

Wiley CPAexcel Scholarship

Currently the Wiley CPAexcel platinum CPA preparatory review course,

at a discount to FGCU students, costs $1490. According to Efficient
Learning, the platinum program offers candidates:
Core Study Materials
Video Lectures + Slides
Professor Mentoring

Dominic Volpi

March 14, 2016

Course Outlines
Virtual Classroom Series
CPA Online Test Bank
Flash Cards
Focus Notes
Flash Drive for Offline Access
12,000 CPA Exam Questions and 600 Task-based Simulations
Total
Partner Until You Pass Guarantee Free Content and Software
Updates

Scholarships to accounting graduates of FGCU will cover 50% or $745

toward this cost. The Wiley CPAexcel Scholarship fund will be
supported by the $10,000 fund request from FGCU. This $10,000
would supply scholarships for up to 13 FGCU CPA graduate candidates
in good academic standing those students with a 3.0 GPA or higher.
Upon graduation, CPA candidates will be required to provide an
academic transcript to the Accounting Society in order to be placed in
a lottery for a Wiley CPAexcel Scholarship. Once scholarships have
been awarded, remaining funds will be used to support the monthly
workshops offered to current FGCU students. Costs associated with
the workshop include: food, beverages and thank you gift cards for
our visiting accounting and finance professionals.

Benefits to FGCU

In 2014, approximately eight FGCU candidates with a bachelors

degree took the CPA exam for the first-time (NASBA 2016). Of these,
only 50% passed either all or just a portion of the four exams (NASBA
2016). With the high cost of education itself, taking a preparatory
review program may not be affordable for our graduates whose
performance acts as an important measure and reflection of success
of the FGCU accounting program. By offering scholarships to our CPA
candidates in good academic standing (3.0 GPA or higher), FGCU will
have a higher passing success rate, thus placing FGCU in the top five

Dominic Volpi

March 14, 2016

passing Florida public schools. Our collaborative efforts to support or

graduates will make our accounting program very marketable to
potential student applicants and have the potential to open more
doors for our graduates in big four firms and associated businesses in
the Fort Myers area.

Recommendation and Conclusion

I recommend that the FGCU SGA partner with the Accounting Society
in the development of the Wiley CPAexcel Scholarship program by
offering $10,000 to the Accounting Society to fund thirteen FGCU
graduate candidates in good academic standing the opportunity to
earn the highest professional distinction in the designation of
Certified Public Accountant (CPA) (Fisher 2016). By relieving the
financial strain of an additional cost, FGCU graduates will be better
prepared to pass the CPA exam necessary to further their career.
A higher first-time CPA exam pass rate for FGCU candidates acts
as an important measure and reflection of success for the FGCU
accounting program (our school) thus leading to a competitive
collegiate alternative for applicants. The FGCU SGA is recognized as
the most prestigious organization on our campus and it would be an
honor to have you on our side as partner. I hope this request meets
with your approval. I look forward to hearing from you at your earliest
convenience when we can make arrangements to meet in person.
Feel free to contact me at 777-777-7777.

Dominic Volpi

March 14, 2016

References
Fisher School of Accounting Home. CPA Exam Performance.
University of Florida, 2016. Web 10 Mar. 2016. Available at:
http://warrington.ufl.edu/accounting/about/exam.asp
Johnson, Jeff. FGCU: CPA Bundles. Efficient Learning, N.p., 2016.
Web 10 Mar. 2016. Available at: http://accountingsociety.
Fgcu.edu/
The NASBA Report. Fisher School of Accounting. University of
Florida, 2015. Web 10 Mar. 2016. Available at:
https://warrington.ufl.edu/accounting/docs/CPA_Florida_2014.pd
f

Dominic Volpi

March 14, 2016