The Accounting MS Program prepares students for the changing accounting profession of the new millennium. The Accounting MS Program provides students with a balanced, rigorous, and in-depth core-course exposure that covers financial accounting, managerial accounting, auditing, income taxation, and research methodology. . In addition to the core accounting course, students may choose to concentrate in several different areas: Auditing, Accounting Information Systems, and Taxation. The Accounting MS program also exposes students to non-accounting fields so that graduates from the program can make decisions in multi-disciplinary business environments. In addition, the program enables students to meet the 150 credit hours requirement for the CPA exam in the states which have enacted this legislation. The program consists of curricular studies of 30 credit hours in the Accounting Core and Elective Curriculum. Most courses are offered Face-to-Face, Online (asynchronously), Hybrid (both online and Face-to-Face) or Remote Learning (online synchronously). These courses are offered in the evening and/or on Saturday.
Admission to the Accounting MS Program
The Accounting MS Program is open to applicants who hold a bachelor’s degree from a regionally-accredited college/university or recognized international institution. Acceptance to the Accounting MS Program is contingent upon either: a bachelor’s degree in Accounting from a regionally-accredited college/university or recognized international institution; or successful completion of the equivalent content of (1) BLAW 285 The Legal Environment of Business, and (2) the following five undergraduate-level accounting courses:
- ACTG 301 Cost Accounting
- ACTG 307 Auditing Theory and Problems
- ACTG 310 Federal Income Tax (Individual)
- ACTG 321 Intermediate Financial Accounting I
- ACTG 322 Intermediate Financial Accounting II
Each application is evaluated on the basis of: (1) transcripts of all prior undergraduate and graduate coursework; (2) performance on the Graduate Management Admissions Test (GMAT) or Graduate Records Exam (GRE); (3) a statement of career goals and objectives; (4) two letters of recommendation; and (5) curriculum vitae (C.V.) or resume and any other evidence that can help the committee assess the applicant’s qualifications. International applicants are required to submit (6) proof of English proficiency. For the Test of English as a Foreign Language (TOEFL) a minimum score of 550 on the paper-based test (or, equivalently, 213 on the computer-based test, or 79 on the internet-based test). Alternatively, for the International English Language Testing System (IELTS) a minimum score of 6.5, for the Duolingo the minimum score must be 100 and for the Pearson English Language Test the minimum score must reach 53. (7) All transcripts from foreign countries must be professionally evaluated on a course-by-course basis by an evaluation service that is a member of NACES (https://www.naces.org/members) for equivalence to our degrees.
The Accounting MS program requires an undergraduate cumulative GPA of at least 2.75 (on a 4.0 scale) and a GMAT score of at least 450 or an equivalent GRE score computed using the published GRE conversion table (generally, 149 on each part of GRE is equivalent to 450 on GMAT).
Minimum competency in Mathematics (i.e., Finite Mathematics, Business Calculus, or their equivalent) will be expected before entry into the program. Those who have not acquired appropriate mathematical skills as part of their undergraduate programs may be required by the Graduate Program Coordinator to take appropriate remedial course(s).
Admission to provisional status:
Applicants may be admitted to provisional status if their GPA is slightly below the minimum requirement as specified above, provided that the composite index score calculated following the formula below is greater than or equal to 1,000.
Composite index score = (GPA x 200) + GMAT score (or equivalent GMAT score in the case of GRE)
Each applicant admitted to provisional status is required to obtain a letter grade of B or A in all courses in the first 9 credit hours.
Exceptions policy for GMAT/GRE:
An applicant may request a GMAT/GRE waiver during the application process, if one of the following three conditions is satisfied.
- An advanced degree (e.g., masters or higher) from a U.S. regionally-accredited institution with a GPA of 3.5 or higher;
- A combination of an undergraduate GPA of 3.25 or higher from a U.S. regionally-accredited institution, at least five years of management experience, and at least 7 years of working experiences in total;
- A combination of an undergraduate GPA of 3.25 or higher from a U.S. regionally-accredited institution, and active (or current) certification of ongoing continuing education (i.e., CPA, CMA, CIA, PHR, SPHR)).
If, upon review by the Admissions Committee, the applicant is considered admissible without a GMAT/GRE score, then the GMAT/GRE requirement will be waived. An applicant may also request a personal interview.
Note: A GMAT preparation course is available through the Office of Community and Professional Education.
Course Scheduling
All graduate courses being offered are scheduled on the evenings of workdays most of the time and on Saturday occasionally. The College of Business and Technology makes an effort to schedule the graduate courses by following a predictable pattern. Students are cautioned to make course choices carefully and plan well in advance so that program completion will not be delayed.
Additional information for the MSA Program can be found on the website of the College of Business and Technology.
MS in Accounting Program Requirements
Accounting Cores --- 15 cr.
All Accounting MS students are required to take the following five core courses.
| Code | Title | Hours |
|---|---|---|
| ACTG-407 | Auditing Theory And Practice | 3 |
| ACTG-412 | Accounting For Planning And Control | 3 |
| ACTG-421 | Current Topics In Financial Accounting | 3 |
| ACTG-430 | Research Methodology In Accounting | 3 |
| ACTG-440 | Tax Research And Procedure | 3 |
| Total Hours | 15 | |
Accounting Electives --- 9 cr.
Each Accounting MS student is required to take three elective courses from the list below.
| Code | Title | Hours |
|---|---|---|
| ACTG-406 | Governmental & Not-For-Profit Accounting | 3 |
| ACTG-408 | Information Technology Auditing | 3 |
| ACTG-409 | Forensic And Investigative Accounting | 3 |
| ACTG-410 | Seminar In Tax Planning | 3 |
| ACTG-422 | Financial Statement Analysis | 3 |
| ACTG-441 | Estate, Gift And Trust Taxation | 3 |
| ACTG-451 | Accounting Information Systems | 3 |
| ACTG-480 | Issues In International Accounting And Multinational Business Operations | 3 |
| ACTG-500 | Project | 3 |
Non-Accounting Electives --- 6 cr.
Each Accounting MS student is required to take two non-accounting elective courses from the list below.
| Code | Title | Hours |
|---|---|---|
| ABF-403 | Management Of Information Systems & Technology | 3 |
| BLAW-410 | International Business Law | 3 |
| COBM-482 | Business Internship/ Practicum For Graduate Students | 3 |
| FINA-402 | Issues In Corporate Finance | 3 |
| FINA-462 | Investment Strategies | 3 |
| FINA-469 | Mergers And Acquisitions | 3 |
| FINA-470 | Corporate Financial Strategy | 3 |
| FINA-471 | International Financial Management | 3 |
| FINA-474 | Seminar On Futures And Options Markets | 3 |
| FINA-475 | Management Of Financial Institutions | 3 |
| MNGT-402 | Applied Business Research | 3 |
| MNGT-403 | Leadership And Organizational Behavior | 3 |
| MNGT-404 | Operations Management | 3 |
| MNGT-474 | Human Resources Policy And Decision Making | 3 |
| MNGT-480 | Entrepreneurship | 3 |
| MNGT-481 | International Management | 3 |
| MNGT-487 | Strategy And Organization | 3 |
| MNGT-489 | Management Of Organizational Change | 3 |
| MNGT-491 | Strategic Technology & Innovation Management | 3 |
| MNGT-490 | Innovation And Creativity | 3 |
| MNGT-498 | International Business | 3 |
| MKTG-402 | Marketing Management | 3 |
| MKTG-451 | Consumer Behavior And Marketing Action | 3 |
| MKTG-453 | Marketing Research - Techniques And Applications | 3 |
| MKTG-454 | Digital Marketing Strategy | 3 |
| MKTG-456 | Channel Distribution And Retailing | 3 |
| MKTG-458 | Global Marketing | 3 |
| MKTG-461 | Services Marketing Management | 3 |
Concentrations --- 9 cr.
Students may choose a combination of accounting electives and non-accounting elective courses to create a concentration from the list below.
| Code | Title | Hours |
|---|---|---|
| Auditing (9 hrs.) | ||
| ACTG-408 | Information Technology Auditing | 3 |
| ACTG-409 | Forensic And Investigative Accounting | 3 |
| ACTG-422 | Financial Statement Analysis | 3 |
| Information Systems (9 hrs.) must include ACTG-451 | ||
| ACTG-451 | Accounting Information Systems | 3 |
| ABF-403 | Management Of Information Systems & Technology | 3 |
| ACTG-408 | Information Technology Auditing | 3 |
| CS-413 | IT Project Management | 3 |
| CS-415 | Design Of Data Base Systems | 3 |
| Taxation (9 hrs.) | ||
| ACTG-406 | Governmental & Not-For-Profit Accounting | 3 |
| ACTG-410 | Seminar In Tax Planning | 3 |
| ACTG-441 | Estate, Gift And Trust Taxation | 3 |
Managerial Competencies
Prior to enrolling in the Accounting MS cores and/or electives, students must demonstrate certain managerial competencies. This requirement can be fulfilled by completing, with an average GPA of 3.0 or higher, four graduate-level courses given below:
- COBM 401 Accounting for Managers
- COBM 402 Business Economics and Finance for Managers
- COBM 403 Topics in Management and Marketing
- COBM 404 Business Statistics and Operations Decisions for Managers
The managerial competencies can also be satisfied by having successfully completed equivalent coursework from a regionally-accredited institution. For example, the corresponding conversion table for NEIU undergraduate coursework is given below.
| Graduate-Level Courses | Prior Coursework at Undergraduate Level |
|---|---|
| COBM-401 Accounting for Managers | ACTG-201 and ACTG-202 |
| COBM-402 Business Economics and Finance for Managers | FINA-360 and ECON-215 |
| COBM-403 Topics in Management and Marketing | MNGT-370 and MKTG-350 |
| COBM-404 Business Statistics and Operations Decisions for Managers | MNGT-368 and MNGT-377 |