//Master of Accounting Facts & Questions

Master of Accounting Facts & Questions

Master of Accounting Facts & Questions 2016-12-06T06:19:30+00:00

FAQs

The Master of Accounting (MAcc) degree is designed to allow undergraduate accounting majors to receive an advanced degree while meeting the 150 hour requirement to sit for the CPA exam. The degree provides students with a more in depth understanding of the rationale for current accounting principles and engages students in critical thinking about accounting problems.

Applicants to the program should have a strong academic record. Applications will be reviewed in their entirety. Requirements for admission will generally be:

  • GPA above a 3.00 (junior/senior GPA will be considered if better than overall)
  • Grades of no worse than a B in all required accounting courses.
  • Completed at least four upper division accounting courses, including Accounting 387
  • Demonstrate strong professional communication skills through the required essays
  • GMAT score of at least 50th percentile
  • GMAT writing of at least 4.5

Applicants are generally required to complete a GMAT exam. If an applicant is completing an undergraduate degree at ISU and has a GPA over 3.25 in both overall GPA and at least four upper level accounting classes, and no grade lower than a B in any accounting class, the GMAT requirement will be waived.

The MAcc is a thirty credit program. The requirements are as follows:

  • Fifteen credits or five courses in graduate accounting course work
  • All students are required to take Acct 598, Acct 583, and English 507. Acct 583 and English 507 are offered as a learning community and must be taken concurrently.
  • Accounting 501 , 581 and 592may not be taken for credit in the MAcc
  • One course with an international focus; Accounting 596 will meet this requirement
  • Enough additional classes to get to 30 credits
  • Up to six hours of undergraduate courses at the 300 or 400 level subject to adviser approval

In general, if you are going to do 150 credits, consider a graduate degree. You can pursue a second area of expertise using the 12 credits of electives you have in the MAcc program. It may not be a good idea to do a MAcc if you:

  • Will already be near 150 credits by the time you finish your undergraduate degree because you changed majors or have a lot of transfer credit
  • Have a very strong interest in another field such as a foreign language
  • Have accounting as a second major and are more interested in a career in another discipline
  • You do not meet the requirements to be admitted to the MAcc

See the Program Requirements PDF. If you are applying for concurrent you need to do a paper application; be sure to follow directions.

Generally, the MAcc can be started at any time. There are a variety of ways to transition to the MAcc.

  • The easiest way is to simply finish the undergraduate accounting degree, apply in your last semester, and start the MAcc the next semester.
  • If a student will not have a full load, the student can apply for concurrent enrollment for the last semester of the undergraduate program.
  • A student can also petition to take a graduate course(s)their last semester, not use these courses in their undergraduate program, and transfer these coursesinto the MAcc.

A student can be taking classes toward two degrees during the same semester. In some cases, these courses can be double counted toward both degrees.

If a student has a course remaining that can count in both the undergraduate accounting degree and the MAcc, this course can count in both degree programs. Examples of courses that can work are electives, US diversity courses, global perspectives courses, or courses being used to satify requirements for a second major or minor. For example, Accounting 596 can count in the MAcc program and meets the global perspectives requirement in the undergraduate program, so this course could count toward both degrees.

Remember, these courses do NOT count twice toward your 150 credits needed for the CPA exam. Thus, for most students graduating with 122 credits, there is no reason to double count more than three credits or the student will not have 150 credits. Up to 6 credits may be double counted if the circumstances warrant; for example if a student needs 126 credits to graduate and has six credits left that can count in the MAcc program, then six credits can be double counted. The student would then need 24 additional credits to complete the MAcc and end up with exactly 150 total credits. Students considering the MAcc should leave an elective or another course that can count in the MAcc for their last semester so the option of concurrent enrollment is available to them.

Concurrently enrolled students are treated by the University as graduate students. The tuition is higher for graduate students and concurrent students pay graduate rates on all of their credit hours. Additionally, students will sometimes lose financial aid that is available only to undergraduate students. Students should carefully consider the pros and cons of their situation when applying to be concurrent. It is possible to stay an undergraduate your last semester and transfer up to three classes into the MAcc; however, there is no double counting available from this status.