Sec. 6.1.  Compliance with IC 25-2.1-3-2, regarding educational requirements for first time examination applicants, will be met by obtaining at least one hundred fifty (150) semester hours of college education, including a baccalaureate or higher degree from an accredited college or university.  As part of the one hundred fifty (150) semester hours, an applicant must meet any one (1) of the following conditions:

(1)               Earned a graduate degree from a college or university that is accredited by an accrediting organization as included in section 6.3 of this rule, and completed:

(A)              at least twenty-four (24) semester hours in accounting at the undergraduate level or fifteen (15) semester hours in accounting at the graduate level; and

(B)              at least twenty-four (24) semester hours in business administration and economics courses, other than accounting courses, at the undergraduate or graduate level.

The business administration courses may include up to six (6) hours of business and tax law courses and up to six (6) hours of computer science courses.  The accounting hours must include courses covering the subjects of financial accounting, auditing, taxation, and managerial accounting.  If the accounting hours are a mixture of graduate and undergraduate hours, the higher number of required hours applies.

(2)               Earned a baccalaureate degree from a college or university that is accredited by an accrediting organization, as included in section 6.3 of this rule, and completed:

(A)              At least twenty-four (24) semester hours in accounting at the undergraduate or graduate level, including courses covering the subjects of financial accounting, auditing, taxation, and managerial accounting; and

(B)              At least twenty-four (24) semester hours in business administration and economics courses other than accounting courses.

The business administration courses may include up to six (6) hours of business and tax law courses and up to six (6) hours of computer science courses.

(Indiana Board of Accountancy; 872 IAC 1-1-6.1; filed Jun 5, 1998, 3:58 p.m.: 21 IR 3933; readopted filed Jun 22, 2001, 8:57 a.m.: 24 IR 3824; filed Aug 3, 2001, 4:34 p.m.: 24 IR 3989)