Siena College in Albany, N.Y. announced a new accounting program for bachelor's and master's students this week, dubbed the"3+1" program. Participating students will now be able to achieve bachelor's and master's degrees in four years' time, as opposed to the more standard five-year period.

Accredited by theAssociation to Advance Collegiate Schools of Business, the 3+1 program will allow students to earn a Bachelor of Science in Accounting in three years, with Master of Science in Accounting in the fourth. Upon graduating with their master's, they will be eligible for New York's Certified Public Accountant Exam.

"The courses taken will be exactly the same as those in a traditional five-year program," stated Charles Seifert, dean of Siena's School of business, per a release. "It's compressed into a shorter period of time for students who are especially motivated and want to begin their careers a year earlier."

"Obviously, we're putting more people in the marketplace more quickly to fill positions that are greatly demanded," Chester Brearey, associate professor and director of Siena's accounting program, toldAlbany Business Review. "Our accounting students don't get jobs; they get careers."

Seifert added that Siena's program has a 100 percent job placement rate and estimates that approximately 75 percent of accounting graduates work in the Albany area upon graduating.

For more on Siena and the 3+1 program, head to the College'ssite here.