Master of Science in Accounting
The Master of Science in Accounting (MSA) program has been designed to equip students to meet the new educational standards of the accounting profession. The American Institute of Certified Public Accountants (AICPA) requires 150 collegiate-level semester hours of its membership applicants since the year 2000.*
Since many states have adopted statutes that also require 150 hours to sit for the CPA examination, it is clear that soon no individual will be able to qualify for membership in the AICPA without meeting the prescribed educational standards.
The Marquette program not only ensures that graduates will meet the 150-hour requirement, but it also offers an exceptional educational foundation for aspiring accounting professionals by:
- extending students' knowledge both in accounting and in related functional areas of business
- meeting the increased demand for master's qualified accountants as demonstrated in recent AICPA studies
- enabling graduates to enjoy more attractive starting positions and faster career advancement than bachelor's degree holders as demonstrated by College Placement Council salary surveys
- providing educational specialization for practice in industry and in the government/not-for-profit sector
Applicants seeking admission to the MSA program should follow the procedures and guidelines described in the Marquette University Graduate School Bulletin. Admission decisions are based on a variety of criteria, each of which is intended to measure the applicant's ability to succeed in the program. No application can be evaluated until all of the required official documents have been received.
An applicant must have completed or be in the process of completing a baccalaureate degree in accounting (or equivalent accounting course work) from an accredited college or university. In addition, the applicant must submit the following items to the Marquette Graduate School of Management, Straz Hall Executive Center:
- A completed Graduate School application and application fee
- Official transcripts from previously and currently attended colleges and universities (other than Marquette)
- Official test scores of the Graduate Management Admission Test (GMAT)
- Essay questions on page 2 of the application form
- Resume or job profile
International applicants whose native language is not English, and who have not received a degree from an accredited academic institution in the United States, also must submit official TOEFL (Test of English as a Foreign Language) scores. In addition, international applicants are required to submit three letters of recommendation.
The MSA program is designed to provide students with the broad range of skills that successful accounting professionals need in today's complex and changing business environment. Courses emphasize technical knowledge in the functional areas of accounting, accentuate communications skills, and promote awareness of the accountant's ethical and social responsibilities. The MSA program meets the AICPA requirement for individual membership in that organization.
The MSA program requires a minimum of 30 credit hours (normally, 10 courses):
- Six (6) Accounting courses (three required and three electives)
- Four (4) Non-Accounting courses (two required business courses and two electives)
The course work involves six functional areas of accounting: financial, managerial, taxation, systems, auditing and governmental/not-for-profit.
The program does not require a thesis, essay or comprehensive examination.
For a graphical representation (i.e. the flowchart) click here.
Marquette's MSA program is designed to meet the new AICPA educational requirements. The MSA program will consist of ten courses — six accounting (four required and two electives) and four non-accounting (two required business courses and two electives). The two required business courses were selected because of their emphasis on critical thinking and the special nature of the Marquette master's degree. Prerequisite for admission to the MSA program is an undergraduate degree with an accounting major or the equivalent accounting course work.
Students graduating from the MSA program must have taken one or more courses in each of six functional areas of accounting:
- financial
- managerial
- taxation
- systems
- auditing
- governmental/not-for-profit
These course areas can be covered at the graduate or undergraduate level.
The Marquette MSA program can be taken in a number of different scenarios. That is, a student may be enrolled in the program as either full-time or part-time. A student can have an undergraduate accounting major from either Marquette or another college or university, and the degree can be taken either immediately after the undergraduate program or at a later time.
The MSA will consist of the following ten courses:
For a graphical representation (i.e. the flowchart) click here.
Required Accounting Courses
- ACCO 222 - Corporate and Not-for-Profit Reporting Issues
- ACCO 233 - Auditing: Ethical, Legal, Professional, and Reporting Responsibilities
- ACCO 235 - Taxation of Corporations, Partnerships,
and Trusts
Business Courses (9-12 credit hours required)
Select 9-12 credits from other graduate level business courses (BUAD), or with the permission of the program director, other graduate level, non-business courses, EXCLUDING BUAD 201-205, 230, 231, 239 and 263.
Three Elective Accounting Courses (9-12 credit hours required)
- ACCO 232 - Advanced Cost Management
- ACCO 240 - Analysis of Corporate Financial Statements
- ACCO 241 - International Accounting
- ACCO 242 - Tax Research Seminar
- ACCO 243 - Accounting Theory
- ACCO 244 - Accounting Information Systems
- ACCO 246 - Governmental Accounting
- ACCO 247 - International Taxation
- ACCO 250 - Capstone Case Course in
Financial Accounting
- ACCO 296 - Seminar in Accounting
Marquette University offers scholarship opportunities for graduate students through the Graduate School. A limited number of assistantships also may be available to students pursuing the MSEM degree. Loans, part-time job opportunities, and other forms of financial aid are available through the Office of Student Financial Aid. However, no offer of financial aid can be made until a student has been admitted to Marquette on a regular, degree-seeking basis.
For details about financial aid programs please consult the Graduate School Bulletin or visit the Office of Student Financial Aid.
Applications are evaluated as soon as the candidate's admission file is complete. Applicants are informed of the Admission Committee's decision shortly thereafter. Those admitted to the program may begin their studies at the start of any semester during the year.
Fall Semester (End of August)
Spring Semester (Mid-January)
Summer Session (Mid-May)
Applicants are encouraged to apply well in advance of their intended matriculation. Applications received less than 6 weeks before the start of a semester might not be reviewed in time for enrollment that semester.
* National 150-hour requirement for membership in the American Institute of Certified Public Accountants (AICPA):
In 1987, the AICPA adopted by a vote of its membership a requirement that, after the year 2000, applicants for membership in that organization must have completed at least 150 collegiate-level semester hours. This requirement applies only to membership in that organization; by itself, it affects neither the requirement to sit for the CPA exam nor to obtain licensure to practice public accountancy in any state. However, in accordance with the AICPA's requirement, many states have adopted statutes requiring 150 semester hours for sitting for the AICPA examination. Thus, no individual will be able to qualify for membership in the AICPA after January 1, 2000 without this additional education.
Current Status of the 150 hour requirement:
To date 45 states have adopted this 150 hour-credit requirement for new CPA's. Included in this total are Wisconsin, Illinois, Indiana, Ohio, Iowa and Nebraska. Wisconsin has passed legislation for a 150 hour requirement effective January 1, 2001.
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