The Master of Science in Accounting degree provides students with the academic training necessary to qualify them for positions in both public- and private-sector accounting. The basic program of 32 graduate credit hours assumes applicants have an undergraduate degree in accounting from a U.S. AACSB International-accredited school and a sound background in management and other complementary disciplines. Students with such a background can complete the program in one year of full-time graduate study.
Students with little or no accounting or business background may be admitted to the program, however this will require the completion of coursework beyond the basic graduate course requirements. Depending on students' individual academic backgrounds and/or proficiency in core subjects, students may have some or all of the core requirements waived.
Coursework focuses on the vital role accountants play in well-run enterprises. Accounting is presented as the principal medium of financial measurement, communication and control, both within enterprises and investors. The MS Accounting program faculty teach the fundamentals of accounting theory and how to effectively resolve business problems. Emphasis is placed on students understanding the ways in which related disciplines such as behavioral science, economics and management information systems are integrated with modern accounting practices. For terminal master's degree students, courses are offered in auditing, taxation, and financial and managerial accounting practices.
Students who complete the program will fulfill the educational requirements for becoming a Certified Public Accountant (CPA). Additionally, the program is excellent preparation for students who want to become certified as management accountants, hold positions in corporate accounting or seek positions at government agencies such as the Treasury Department, General Accounting Office and Securities and Exchange Commission.
Core Requirements
- Principles of Microeconomics
- Principles of Macroeconomics
- Statistics for Management
- Legal Environment of Management I
- Legal Environment of Management II
- Organizational Behavior
- Management Information Systems
- Financial Management
- Introduction to Marketing
- Operations Management
- Financial Accounting
- Intermediate Accounting Theory I
- Intermediate Accounting Theory II
- Cost Accounting
- Auditing
- Taxation of Entities (Corporate Tax)
Competency in the core requirements may be demonstrated in any of the following ways:
- Evaluation of previously completed studies essentially equivalent to one or more courses.
- Achieving a satisfactory grade on a validation examination based on prior coursework.
- Completion of a course while enrolled in the MS in accounting program, which is not included in the total graduate requirements for the degree; MS in accounting students are expected to take the graduate equivalents of the background courses.
MS Accounting Curriculum
All students must complete the following graduate courses to qualify for the Master of Science in Accounting degree:
- ACCT 540 Financial Accounting Theory
- ACCT 541 Auditing & Managerial Accounting Theory
- ACCT 573 Individual Tax
- ACCT 555 Advanced Accounting Theory
- ACCT 550 Accounting Information Systems
- MGMT 530 Global & Ethical Environment
- MGMT 516 Business Communications
- Two graduate electives
MS Accounting Part-Time Study
Students may elect to complete the MS Accounting degree program on a part-time basis. Part-time students are expected to take eight credits each semester. In such cases, students will require between two and four years to complete all degree requirements, depending on course waivers and ability to take courses during summer sessions.
Transfer Credit
Students may petition to transfer up to eight graduate credits, elective in nature, in lieu of comparable SOM graduate course credit, if these credits have not been applied to another degree.
Master of Science in Accounting with Concentration in Taxation
The tax concentration in the MS in accounting program at °®¶¹´«Ã½ prepares students for careers in taxation. The concentration is a mixture of regular, specialized and integrative tax courses, providing both a broad understanding of tax and policy issues as well as a specialized focus on several areas of taxation important to practice.
The concentration consists of 18 credits of taxation-related coursework. The concentration and its specialized and integrative tax courses are available only through application and admission to the concentration. The courses must be taken in a fall/spring sequence. The program consists of regular, specialized and integrative tax courses taught by experts from practice, as well as °®¶¹´«Ã½ faculty. Admission to this one-year program requires students to have an undergraduate degree in accounting from a U.S.-accredited program.
In the fall semester, students take the regular individual income tax course (four cr.) along with three specialized elective courses (two cr.) taught by experts from the practice community. The topics of the specialized courses are asset management taxation, financial accounting aspects of income tax, and state and local tax.
In the spring semester, students take an additional specialized course (two cr.) in international taxation, as well as two integrative courses. Taxation of business transactions (four cr.) draws on material from all the tax courses to develop tax strategies for business entities and their owners. (It is assumed that students have taken corporate income taxation in their undergraduate program.) The tax capstone project (two cr.) explores tax policy issues and develops skills in performing and presenting tax research on specific situations. In addition, each student prepares and presents a capstone research project on a tax policy issue.
MS Accounting with a Concentration in Tax Curriculum
Prerequisite: Corporate tax
- Fall semester
- ACCT 540 Financial Acct Theory or ACCT 541 Auditing and Managerial Acct Theory (four credits)
- ACCT 573 Individual Tax (four credits)
- MGMT 530 Global & Ethical Environments (two credits)
- ACCT 583A Asset Management Tax (two credits)
- ACCT 583H Fin Acct Aspects of Income Tax (two credits)
- ACCT 583I State & Local Tax (two credits)
- 16 credits total
- Spring semester
- ACCT 540 Financial Acct Theory or ACCT 541. Auditing and Managerial Acct Theory (four credits)
- ACCT 555 Advanced Acct. Theory (four credits)
- ACCT 583E Taxation of Entities and Owners (four credits)
- ACCT 583D International Tax (two credits)
- ACCT 583F Capstone Project in Taxation (two credits)
- 16 credits total
MS Accounting Degree Requirements
The Master of Science in Accounting degree is awarded if the candidate has:
- Completed at least 32 credit hours of graduate coursework
- Maintained the equivalent of a B average in courses including core requirements approved by the program director and presented for the degree
- Fulfilled all course requirements, with no credit for graduate courses in which a grade equivalent to less than C (C- needs permission of graduate director) has been received
- Been recommended for the degree by the Dean's Office acting on behalf of the faculty of SOM
A candidate for the MS in accounting degree must complete all requirements for the degree within five years after admission to the school. Exceptions may be made for a part-time student when such exceptions are recommended by the graduate program director in consultation with the dean or the dean's appointee.
New York State Certified Public Accountant (CPA) License Requirements
Complete information on New York State CPA license requirements may be obtained via the New York State Office of the Professions website.