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Accountancy

Master of Accounting (MACC)
Offered By: College of Business
Graduate

Description

The Arkansas State University MAcc Program is a professional degree program designed to prepare students for careers in accounting and related fields. This program prepares students for advancement beyond entry-level positions, and provides an excellent avenue to obtaining the 150 credit hours required to sit for the CPA exam.

Coursework Overview

For students with an undergraduate accounting degree from an U.S. AACSB accredited university, the program usually requires 30 hours of course work. Students holding an undergraduate business degree in another field from an AACSB accredited university are required to take the accounting prerequisites. Students whose undergraduate degrees are in a non-business related field normally will take 12 additional hours of foundation courses. Students must complete 21 hours of required accounting courses and 9 hours of graduate business electives approved by your program advisor.


  • Prerequisites

    Prerequisite Upper Level Accounting Courses with C or Better

    • ACCT 2033 Intro to Financial Accounting
    • ACCT 2133 Intro to Managerial Accounting
    • ACCT 3003 Intermediate Accounting I
    • ACCT 3013 Intermediate Accounting II
    • ACCT 3033 Intermediate Accounting III
    • ACCT 3053 Cost Accounting with a Managerial Emphasis
    • ACCT 4013 Individual Income Tax (Tax I)
    • ACCT 4033 Accounting Information Systems
    • ACCT 4053 Auditing
    Note:

    Some CPA Boards may require other classes as prerequisites to sit for the CPA exam. These requirements do not affect the granting of the ASU MAcc degree, but may impact students’ ability to sit for the CPA exam which is often another component of students’ career goals. Students should consult the CPA Board where they will take the CPA exam for additional guidance on CPA exam requirements that may impact their recommended course work. Accounting advisors can help you interpret the Board rules for your respective state but cannot offer any definitive rulings on Board requirements.

  • Admission Process

    Admission into the Graduate School

    All general admission requirements of the Graduate School are applicable to the program and the student should refer to these requirements which are listed in the graduate bulletin. Non-degree candidates cannot enroll in College of Business graduate courses unless they meet all the admission requirements of the degree candidate. Students who are admitted to masters degree programs outside the College of Business will not be permitted to take more than nine semester hours of College of Business graduate courses unless they meet all of the admission requirements of the degree candidate.

    An applicant's complete application package, including application to the Graduate School, official transcripts, official GMAT scores, required application fee and, when required, proof of immunization must be received in the Office of Graduate Admissions no later than six weeks prior to the beginning of classes each semester. To ensure time for issuance of an I-20, international students must submit a complete application, including all the above plus official TOEFL scores no later than 90 days prior to the beginning of classes each semester.


    Admission into the MAcc Program

    Application

    All sections of the application form should be completed. This form should be typewritten (or printed clearly) and filled out completely. If the space provided is inadequate, please attach additional pages.

    Download the MAcc Program Application >>

    Transcripts

    An official transcript is required from every college and university you have attended since graduating from high school. All prior course work including summer sessions, night school and any graduate study should be included. All international transcripts must be translated into English. The translations should be notarized or officially validated.

    Required Tests

    All applicants are required to take the Graduate Management Admission Test (GMAT) administered by Pearson VUE. Test scores more than 5 years old will not be accepted. Please arrange for your GMAT scores to be reported directly to Arkansas State University by Pearson VUE. The Arkansas State University code number is 6011.

    All applicants whose native language is not English must submit a score for the Test of English as a Foreign Language (TOEFL) or IELTS. The required score for the TOEFL is 550 on the paper based, 253 on the computer based and 79 on the internet based test. Applicants taking the IELTS have to score 6.0. Please arrange for your TOEFL scores to be reported to Arkansas State University.

    Each applicant is responsible for having his/her official GMAT and TOEFL scores sent directly to the Graduate School under separate cover.

    Unconditional Admission

    Applicants to the College of Business Graduate Program may attain unconditional admission with either the Graduate Management Admission Test (GMAT) or the Graduate Records Exam (GRE) as indicated below:

    Submission of GMAT®
    1. A minimum cumulative GPA of 2.75 or its equivalent on a 4.00 scale on all undergraduate coursework completed and a minimum GMAT® of 480 to achieve the formula score of 1030 as follows:
      2.75 X 200 + 480 = 1030
    2. A minimum GPA of 3.00 or its equivalent on a 4.00 scale on the last 60 hours of undergraduate coursework completed and a minimum GMAT® of 480 to achieve the formula score of 1080 as follows:
      3.00 X 200 + 480 = 1080
    OR Submission of GRE®
    1. A minimum cumulative GPA of 2.75 or its equivalent on a 4.00 scale on all undergraduate coursework completed and a minimum GRE® composite of 300 (must have a minimum of 145 on the Verbal part and a minimum of 145 on the Quantitative part) to achieve the formula score of 850 as follows: 2.75 X 200 + 300 = 850
    2. A minimum GPA of 3.00 or its equivalent on a 4.00 scale on the last 60 hours of undergraduate coursework completed and a minimum GRE® composite of 300 (must have a minimum of 145 on the Verbal part and a minimum of 145 on the Quantitative part) to achieve the formula score of 900 as follows: 3.00 X 200 + 300 = 900

    Information pertaining to the GMAT may be obtained by contacting the Testing Center at (870) 972-2038 or by writing:

    Graduate Management Admission Test
    Educational Testing Service
    P.O. Box 966
    Princeton, NJ 08540

    Conditional Admission

    An applicant to the College of Business Graduate Program who fails to meet the minimum GPA, but who meets the formula stated above by offsetting a lower GPA score with a higher GMAT or GRE score may be admitted conditionally by the director of graduate business programs based on the applicant's outstanding academic record as evidence of the ability to succeed in the program.

    Pre-Graduate Program

    No applicant will be admitted to the College of Business Graduate Program without a satisfactory score on the GMAT or GRE. Applicants are encouraged to take the GMAT or GRE early to be admitted to the program. An applicant without the GMAT or GRE may take the foundation courses and/or a maximum of nine hours of regular graduate courses as a pre-graduate (non-degree) student. Foundation courses do not apply toward the College of Business Graduate Program. International students are not permitted to enroll as a pre-graduate student and cannot take courses or be admitted to the College of Business Graduate Program without submitting the required GMAT or GRE and TOEFL scores.

    Affidavit of Financial Resources of International Applicants/Visa Status

    Check the Office of International Programs website for more information.

    The completion of the affidavit to the satisfaction of Arkansas State University is one of the requirements that must be met before a Form I-20 can be issued. Return the completed form with the statement and signature from an official of your financial institution to Graduate Sdmissions, P.O. Box 1570, State University, AR 72467 USA.

    International applicants need to indicate on the affidavit the amount of funds in United States currency that will be available to them during each year that they plan to be in the United States. Funds must be verified by a certified statement from an official of the financial institution and/or government agency.

    To expedite processing, applicants are encouraged to submit this information with their applications.

  • Capstone Experience

    At the end of their program each student will complete a capstone experience course, ACCT 6503 Special Problems in Accounting.

    This course will require students to work with an accounting graduate faculty member to work on a single issue or accounting related project in depth. The issue or project must be approved by the faculty member and business graduate director prior to enrollment in this course for the student's fi nal semester. The capstone experi-ence will culminate in a written issues paper and a presentation of the results of the research or other approved project. A grade of B or better on the capstone project will be required for graduation.

    Students will attend regularly scheduled class during project development, project implementation, and project presentation.

  • CPA Exam

    Minimum Qualifications

    Most states now require first time CPA exam candidates to have 150 hours of basic education. The ASU Bachelor of Science in Accounting is 126 hours. While a uniform CPA Exam is given, minimum qualifications to sit for the CPA Exam can vary from state to state. Access to rules for specific states is available through this website, http://www.nasba.org/nasbaweb.nsf/exam.

    Those interested in the CPA exam will need to be familiar with the specific residency and coursework requirements of the state where they plan to take the CPA exam and discuss these rules with their advisor in planning specific electives in their program of study.

    The Arkansas State Board of Public Accountancy’s website includes information about the CPA exam, including Accountancy Rule 3 dealing with education requirements.

    First time candidates for the CPA Exam in Arkansas must have a minimum of 150 hours of college credit hours to sit for the CPA exam including 30 semester hours of accounting at the graduate or undergraduate level with a minimum grade of “C” in each course.

    Preparing at ASU for the CPA Exam

    ASU students have four tracks they can use to prepare themselves for the CPA exam:

    1. A Bachelor's of Science in Accounting (126 hours) plus the Master's of Accountancy (MAcc) (30 hrs).
    2. A Bachelor's of Science in Accounting (126 hours) plus another College of Business's graduate degree such as the Master's in Business Administration (33 hrs).
    3. A Bachelor's from the College of Business with a major other than Accounting (such as finance or information systems) plus 30 hours of undergraduate or 20 hours of graduate coursework in accounting.
    4. A Bachelor's degree other than in a business areas plus 24 hours of course work similar to the College of Business core and 30 hours of undergraduate or 20 hours of graduate coursework in accounting.

    The first and second tracks above (BS in Accounting plus MAcc or other graduate business degree) are recommended to prepare for the CPA Exam in Arkansas, but the last two approaches provide flexibility for mature students coming back for a second degree.

    A requirement in Arkansas is that your education must include coverage of specific accounting topics. One of these topics, governmental/nonprofit accounting, is not required in the ASU Bachelor of Science in Accounting program. This topic is covered in ACCT 4123, and students planning to sit for the CPA exam in Arkansas must take ACCT 4123 as part of their undergraduate coursework.

  • Certifications

    Certification demonstrates proficiency in today's most sought-after skills. Employers prefer to hire and retain those who achieve and maintain their designation. Numerous certifications are available in accounting. Some certifications cross over into other business disciplines. Several are listed below along with websites where more information can be obtained.

    CPA

    Certified Public Accountant

    www.aicpa.org

    CMA

    Certified Management Accountant

    www.imanet.org

    CIA

    Certified Internal Auditor

    www.theiia.org

    CFM

    Certified in Financial Management

    www.imanet.org

    CFE

    Certified Fraud Examiner

    www.acfe.com

    CFP

    Certified Financial Planner

    www.cfp.net

    CISA

    Certified Information Systems Auditor

    www.isaca.org

  • Checksheet & Course Rotation

    Checksheets

    Checksheets list all of the requirements and university obligtions for degree completion.

    View the MAcc checksheet >>


    Course Rotation

    It is possible to complete the MAcc in one calendar year.  

    View suggested course sequences >>