AMAcc Costs

The ultimate cost of the AMAcc program depends on the level of investment the employer sponsor chooses to make in its CPA Apprentices. While most are out-of-pocket costs (e.g., tuition, fees, instructional resources, and CPA Exam costs), others are opportunity costs (e.g., the amount of time that sponsors permit apprentices to study at work). An estimate of the out-of-pocket costs is provided in the following table.

AMAcc Costs

• Tuition and Fees: $18,455
• Instruction Resources (Textbooks, etc.): $545
• Total AMAcc Costs: $19,000

CPA-Related Costs

• CPA Exam-Related $3,860
• CPA License $140
• Total CPA-Related Costs $4,000

Total Costs: $23,000

Note: All amounts are subject to change. Accurate as of June 2024.

Some sponsors may choose not to cover the full cost of the AMAcc program and CPA licensure. It is important that the Sponsorship Agreement Form clearly specifies all costs that are to be covered by the employer. All costs not covered by the sponsor are the responsibility of the student.

Managing Program Costs and Reimbursements

As shown in the above cost table, the AMAcc program involves three categories of costs: tuition and fees, instructional resources, and CPA-related expenses. Understanding who pays these costs and how reimbursement works is crucial for both students and sponsors.

Tuition and Fees.  To simplify the payment process, the AMAcc program recommends that sponsors take advantage of the university’s direct payment option for tuition and fees. Direct payment streamlines the financial process, ensuring timely payments and reducing administrative burdens on both the sponsor and student.  Another benefit is that students who cannot afford upfront payments are not burdened financially.

Instructional Resources and CPA-Related Costs.  Students are responsible for paying for the instructional resources and CPA-related expenses at the time of incurrence.  They can then submit receipts to their sponsor for reimbursement. This arrangement allows students to manage smaller, more manageable costs while sponsors cover the larger, more significant expenses directly.

Forgivable Loans Some sponsors might consider offering their CPA Apprentices an educational loan to cover the costs of the program.  Such loans are forgiven based on the employee’s tenure or performance, making this an attractive option for both parties. Click here for an example of a typical promissory note.

In Summary

In summary, educational assistance programs are designed to help employees further their knowledge and skills, which can be beneficial both for their personal development and for enhancing their contributions to the employer. Employers may choose to offer one or a combination of these assistance types based on what best fits their organizational goals and budget.