Accountancy

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The objective of the Master of Accountancy (M.Acc) degree program is to provide an opportunity for students to achieve greater breadth and depth in the study of accountancy than is possible in the baccalaureate program. As preparation for entry into a dynamic profession the curriculum fosters clear, logical, and analytical thought processes, effective oral and written communications, and life-long learning skills. Graduates pursue careers as professional accountants in public practice, industry, financial institutions, government, and other not-for-profit organizations.

Admission

Applicants for admission to the program are required to:

  1. Complete all requirements for admission to graduate study as specified by the Graduate School.
  2. Complete the Graduate Management Admissions Test (GMAT) unless the applicant qualifies for a waiver of the GMAT as provided below; and
  3. Pay a nonrefundable $65 application fee by credit card when submitting the application for Admission to Graduate Study in Accountancy.

Information regarding the GMAT is available through the GMAT website: www.mba.com/exams/gmat. The results of the test must be mailed directly to the Director of the M.Acc. Program.

The GMAT requirement is waived for applicants with an overall grade point average of 2.7 or higher (on a 4.0 scale) in an undergraduate major in accountancy at a 4-year undergraduate AACSB-accredited institution. Applicants whose grade point average is below 3.0 will be conditionally admitted under this waiver and must obtain a B or better in all 12 credit hours of coursework in their first semester to remain in the program.

If the GMAT is required, admission to the program is based on a composite of: (1) undergraduate grade point average times 200, and (2) GMAT overall score. These two factors are added together to arrive at a composite score. For example, an undergraduate grade point average of 3.2 with a GMAT of 550 would yield a composite score of 1190.

Differential Tuition and Technology Fee

Starting Fall 2008, the College of Business has implemented a differential tuition surcharge of 15 percent of applicable tuition for new College of Business majors. The differential tuition surcharge will be assessed at the in-state tuition rate and will be capped at 15 credit hours per semester. If students are charged the differential tuition surcharge, the technology fee (see item below) will not be assessed.

The College of Business assesses College of Business majors a technology fee of $6 per credit hour for Fall and Spring semesters up to twelve semester hours and Summer up to six semester hours. The technology fee is being phased out and will be subsumed under the differential tuition surcharge. Consequently, students will be charged either the technology fee or the differential tuition surcharge but not both.

Degree Requirements

The Master of Accountancy degree program includes two concentrations from which to choose: 1. Taxation, 2. Audit/Information Systems, and 3. General. Degree requirements are dependent upon the specialization chosen.

Taxation Concentration:

The taxation concentration is designed to provide in-depth exposure to the basic areas of taxation and to develop competence in the practical application of rules of taxation in the context of business and personal decision-making. Students must complete 30 hours of graduate-level course work.

Taxation Core Courses (18 hours)*
Six (6) of the following courses must be completed:

  • ACCT 541 (3)   Federal Income Tax Concepts
  • ACCT 542 (3)   Tax Research and Procedure
  • ACCT 543 (3)   Corporate Taxation
  • ACCT 544 (3)   Partnership Taxation
  • ACCT 545 (3)   State and Local Taxation
  • ACCT 546 (3)   Estate and Gift Taxation
  • ACCT 547 (3)   Tax Accounting Principles
  • ACCT 548 (3)   International Taxation

Electives (12 hours)

  • ACCT 514 (3)   Ethics of Business
  • ACCT 561 (3)   Accounting Analytics
  • ACCT 571 (3)   Governmental & Not for Profit Accounting
  • ACCT 575 (3)   CPA Review
  • ACCT 595 (3)   Internship
  • Any 500-level ACCT course not previously taken
  • Any 400-level ACCT course not previously taken

Elective will be selected in consultation with the Director of the Master of Accountancy Program.

*Substitutions will be determined in consultation with the Director of the Master of Accountancy program when necessary.

Auditing & Accounting Information Systems Concentration:

The Auditing & Accounting Information Systems concentration is designed for those interested in pursuing careers in assurance. The primary objective is to develop conceptual and technical abilities, research competence, and communication and human relation skills.

The program of study is designed to provide in-depth exposure to the basic areas of auditing and accounting information systems and to develop competencies in the practical application of these areas of expertise. Students must complete 30 hours of graduate-level coursework.

Auditing & Accounting Information Systems Core Courses (18 hours)*
Six (6) of the following courses must be completed:ACCT 512c (3)  Interpreting Data

  • ACCT 532 (3)   Advanced Managerial Accounting
  • ACCT 560 (3)   Information Technology Risk and Controls
  • ACCT 561 (3)   Accounting Analytics
  • ACCT 562 (3)   Governance, Risk, and Control
  • ACCT 563 (3)   Advanced Auditing
  • ACCT 565 (3)   Advanced Accounting Information Systems
  • ACCT 567 (3)   Fraud Examination
  • ACCT 568 (3)   Forensic Accounting

Elective (12 hours)

  • ACCT 514 (3)   Ethics of Business
  • ACCT 571 (3)   Governmental & Not for Profit Accounting
  • ACCT 575 (3)   CPA Review
  • ACCT 595 (3)   Internship
  • Any 500-level ACCT course not previously taken
  • Any 400-level ACCT course not previously taken

Elective will be selected in consultation with the Director of the Master of Accountancy Program.

*Substitutions will be determined in consultation with the Director of the Master of Accountancy program when necessary.

General Concentration:

The General concentration is designed for those interested in pursuing careers that cover all areas of accounting. This concentration is designed to provide a mix of taxation, auditing, and accounting information systems topics. Students must complete 30 hours of graduate-level coursework.

General Core Courses (up to 30 hours)*

  • ACCT 514 (3)   Ethics of Business
  • ACCT 542 (3)   Tax Research and Procedure
  • ACCT 543 (3)   Corporate Taxation
  • ACCT 545 (3)   State and Local Taxation
  • ACCT 561 (3)   Accounting Analytics
  • ACCT 562 (3)   Governance, Risk, and Control
  • ACCT 563 (3)   Advanced Auditing
  • ACCT 567 (3)   Fraud Examination
  • ACCT 568 (3)   Forensic Accounting
  • ACCT 571 (3)   Governmental & Not for Profit Accounting

Electives (up to 6 hours)

  • ACCT 575 (3)   CPA Review
  • ACCT 595 (3)   Internship

Elective will be selected in consultation with the Director of the Master of Accountancy program.

* Substitutions will be determined in consultation with the Director of the Master of Accountancy program when necessary.

Foundation Requirements
A student who does not have an undergraduate business degree will be required to complete the following (or equivalent):

  • ACCT 220   Accounting I-Financial
  • ACCT 230   Accounting II-Managerial
  • FIN 270   The Legal and Social Environment of Business, or
    FIN 280 & FIN 380   Business Law I (FIN 280); Business Law II (FIN 380)
  • FIN 330     Introduction to Finance
  • MGMT 304  Introduction to Management
  • MKTG 304  Marketing Management

A student not having an accountancy degree will be required to complete the following (required to be completed prior to enrollment in any graduate course for which the course is a prerequisite):

  • ACCT 321   Intermediate Accounting I
  • ACCT 322   Intermediate Accounting II
  • ACCT 331   Cost Accounting
  • ACCT 341   Introduction to Taxation
  • ACCT 360   Accounting Operation Systems
  • ACCT 460   Auditing

Note: The student may request that undergraduate courses taken at universities other than Southern Illinois University (SIU), or that other undergraduate courses taken at SIU be evaluated as possible substitutes that would meet the above requirements.

The full-time student who qualifies for the minimum program in terms of course work requirements normally may expect to complete the Master of Accountancy degree in one calendar year (two semesters and one summer session).

In order to meet the graduate requirements, the students must obtain a 3.0 grade point average (4.0 = A) and obtain a B or better in eighty percent of all graduate-level courses taken after admission to the M.Acc. program.

Double Major Policy

Any graduate student wishing to pursue a double major for a master’s degree that includes business administration must satisfy the following requirements in addition to any requirements stated in the Graduate Catalog:

  • The individual must satisfy all requirements for admission to the relevant master’s program in business (M.B.A or M.Acc.).
  • The individual must satisfy all foundation requirements of the relevant master’s program in business.
  • The individual must complete all core classes, secondary core (M.Acc.) courses, and elective course requirements for the relevant master’s program in business.
  • No more than six hours of coursework outside the College of Business may be counted toward elective requirements in the relevant master’s program in business.

Concurrent J.D. and M.Acc. Program

A student who has been admitted separately to the School of Law and to the M.Acc. program may apply for permission to study concurrently for both the Juris Doctor and Master of Accountancy degrees. This permission must be requested from both the School of Law and the School of Accountancy, ordinarily prior to entry into the second-year curriculum of the School of Law.

During the first academic year of concurrent work on the two degrees, the student enrolls only in the first-year law curriculum. In any subsequent academic term, the student may enroll for courses either in the School of Law or in the Master of Accountancy program. A student registered for both law and graduate courses in the same term must enroll for a minimum of 10 hours in law, and 12 semester hours in total, in order to meet A.B.A. residence requirements and the academic requirements of the School of Law.

Completion of the concurrent program requires that the student successfully complete 90 semester hours of law courses and 30 semester hours of courses that meet M.Acc. requirements. However, up to nine semester hours of M.Acc. courses may be applied to the 90-hour J.D. requirement and up to nine hours of Law School courses may be applied to the 30-hour M.Acc. requirement. School of Law courses counting for graduate credit toward the Master of Accountancy degree must be approved by the Director of the Master of Accountancy program. Further, no more than six of the 30 semester credit hours may be taken in courses at the 400-level for graduate credit.