joomla templates

Master of Science in Accounting

Master of Business Administratione

The Master of Science in Accounting (MAC) degree program provides students with the technical and operational skills necessary for careers in Accounting. New financial regulations, the globalization of businesses, and pressure for organizations to be more fiscally responsible and transparent drive the need for more skilled accountants and auditors. Various agencies and organizations in the US and internationally are in constant need of professional accountants to successfully maintain their business operations. Governmental agencies, private enterprises, multinational corporations, international organizations, non-profits, and start-ups are all looking for employees with professional skills in financial and managerial accountancy, especially those with an understanding of ethical and legal issues in the global financial environment.

Courses in the MAC program emphasize financial and managerial accounting, taxation, and auditing. Students will also be exposed to international accountancy, accounting information systems, and ethical and legal issues in accounting.

Degree Requirements

VIU's Master of Science in Accounting (MAC) requires twelve courses and consists of two study areas that develop core competency in accounting as well as additional necessary knowledge and skills to become an accountant beyond prerequisite courses. In addition to taking the seven core courses (21 credit hours) essential to MAC, students will also select three concentration courses (9 credit hours), and take two thesis courses (6 credit hours) which will help prepare them for a career in Accounting. If desired, graduates can take an additional course aimed at successful preparation for obtaining the professional certification as a Certified Professional Accountant (CPA).

Area # of Courses Credit Hours
Core Courses 7 21
Concentration Courses 3 9
Thesis Courses 2 6
Total 12 36

Prerequisite Courses (5 Courses) 15 Credit Hours**

Applicants seeking admission into the MAC Program, who have no previous business and/or management background, finance and accounting experience and his/her Bachelor’s degree is not related to business and management is required to take the MAC prerequisites All MAC applicants must demonstrate academic credit for the prerequisite courses. Applicants who cannot demonstrate academic credit for the prerequisite courses will be required to complete these courses in addition to their 36-hour MAC program of study.

Course Code Course Name Credit Hours
ACCT 201

Prerequisite: None
This course is an introduction to accounting concepts and procedures for an organization. The emphasis is upon the accounting cycle as well as the recording, summarizing, and interpretation of accounting information.
3
ACCT 202

Prerequisite: ACCT 201 Principles of Financial Accounting
This course continues the elementary accounting principles with a focus on operations, time value of money, and cost accounting. Job-order costing, process costing, cost-volume-profit, budgeting, and variance are introduced.
3
BUSS 303

Prerequisite: ACCT201 Principles of Financial Accounting
This course focuses on the methods of financial analysis and planning within the firm including time value of money, cash flow analysis, capital budgeting, and valuation of debt and equity instruments.
3
ENGL 120

Academic Writing focuses on reviewing the fundamentals of standard written English for academic purposes. Students will practice writing common forms of academic documents and demonstrate the ability to successfully use APA formatting. This interactive class provides students with an opportunity to improve their academic writing skills necessary for success in college and beyond. 
3
STAT 200

This course provides an introduction to data analysis, least-squares regression, data collection, sampling distributions and strategies, probability, confidence intervals, and hypothesis testing.  
3

These program prerequisites are co-requisites and may be taken at the same time. Additionally, the dean has the authority to issue permission or waiver for these courses.

Accounting Core Courses (7 Courses) 21 Credit Hours

This set of courses provides basic concept, analysis and fundamental knowledge in auditing, taxation, financial reporting, business ethics and information systems within accounting field. Every MAC student must complete the following seven (7) courses:
Course Code Course Title Credits
MBA 511

Prerequisites: ACCT 201 Principles of Financial Accounting, BUSS303 Principles of Finance
This course focuses on companies' sources and uses of financial resources. Students will focus on capital/debt structure decision and capital budgeting techniques, with particular emphasis on the impact of long-end short-term uses and sources of funds on the firm’s value.
3
MBA 605

Prerequisite: MBA 511: Managerial Accounting and Finance
This course provides students with the knowledge of basic to complex auditing issues of businesses. It focuses on basic auditing concepts and principles including professional standards, planning an audit and auditing internal controls, evidence gathering, fraud, and sampling tools for audits, as well as review of audit procedures and audit reports.
3
MBA 608

Prerequisite: None
This course presents accounting reporting and decision making tools used in various businesses. Students will understand basic to complex financial reporting and decision making concepts and practices. Topics include the analysis of financial statements, ratio analysis, benchmarking, valuation concepts, risk, budgeting, investments, and taxes.
3
MBA 610

Prerequisite: MBA 511: Managerial Accounting and Finance
This course provides students with the knowledge of basic to complex tax issues of businesses. The course includes a basic introduction to taxation, tax issues with investments, and other business transactions. The course will also cover taxation of various types of corporations and individuals including gift taxes and income.
3
MBA 611

Prerequisite: None
This course examines the legal and ethical basis of decision-making in business organizations. Topics include torts, contracts, liability, and the Uniform Commercial Code.
3
MBA 654

Prerequisite: None
This course focuses on the analysis and design of systems that facilitate the accounting process. The students will learn how to evaluate, develop, implement and apply accounting models, processes, and internal controls used in the accounting processes. The course introduces the use of simple to complex data flow diagrams for evaluation and decision making.
3
ACCT 600

Prerequisite: MBA 511 Managerial Accounting and Finance
Internship/CPT Qualified
This course focuses on developing knowledge around the principles and practices related to providing management with cost information critical to decision making. Cost accounting is a process of collecting, analyzing, summarizing and evaluating cost of delivery (products or services) with the goal of informing management around alternative decision points. Topics covered include standard costing practices, activity based costing principles, cost-volume-profit analysis, and other key concepts relevant to the cost accounting discipline.
3

Accounting Elective Courses (3 Courses) 9 Credit Hours

To expand their knowledge and experience in accounting, students are required to take additional courses from a list of provided courses. Every MAC student must choose and complete three elective courses (9 credits) from the list below:
Course Code Course Title Credits
MBA 614

Prerequisite: MBA 511: Managerial Accounting and Finance
Internship / CPT Qualified

This course aims to concentrate on the following two topics: (1) basics of international financial markets including derivatives; and (2) managerial perspectives on international finance. The course includes an analysis of different types of financial instruments, such as currencies, stocks, futures, options, international risk and diversification, and swaps. The course covers the theoretical concepts of international financial markets and the study of valuations, acquisitions, and strategies using various techniques to analyze foreign investments.
3
MBA 620

Prerequisite: MBA 511: Managerial Accounting and Finance
Internship / CPT Qualified

This course places an emphasis on the optimal acquisition and allocation of long-term sources of capital. Topics include working capital, capital budgeting evaluation models, cash flow analysis, diversification, portfolio approaches to capital budgeting, capital structure, cost of capital, lease-purchase decisions, abandonment, and mergers.
3
MBA 621

Prerequisite: MBA 511: Managerial Accounting and Finance
Internship / CPT Qualified

This course will cover the different financial markets and trading theories that different market participants use to profit from moves in the market. Unlike an investments course, this class will focus more on the economic and psychological factors that move secondary markets instead of advanced calculations based on efficient market theory.
3
ACCT 601

Prerequisite: MBA 511: Managerial Accounting and Finance
Internship/CPT Qualified

This course focuses on understanding the available alternatives and correct accounting for complex business transactions and business models. Topics covered will include variable interest entities (e.g. joint venture accounting), merger and acquisition principles, accounting for multinational corporations, and other subject matter required in an increasingly complex business environment. Case studies will be used in a highly interactive classroom environment will allow students to explore topics in depth.
3
ACCT 602

Prerequisite: MBA 511: Managerial Accounting and Finance
Internship/CPT Qualified

As activities and interests of investors, lenders, and companies become increasingly global, accounting professionals are expected to understand and communicate to management the impact of these complexities. This course focuses on developing knowledge and understanding around issues such as international financial reporting standards (IFRS), translation of foreign currency financial statements, analysis of foreign financial statements, and contrasts in multinational auditing and corporate governance. At the end of the course, students will have gained a better understanding of the implications for the accounting professional where international influences impact the daily business transactions of an organization.
3
ACCT 603

Prerequisite: MBA 511: Managerial Accounting and Finance
Internship/CPT Qualified

The focus of coursework will be current topics of interest in the technical accounting discipline and the general accounting, finance, and business environment. Students will explore hot button topics which impact the practice of the profession as well as the impact on business organizations. A combination of lecture, case studies, classroom interaction, and student project research and presentation will provide students the opportunity to explore contemporary topics of interest and interpret how issues may influence the practice of accounting.
3

Accounting Thesis Courses (2 Courses) 6 Credit Hours

The Accounting Thesis allows students to demonstrate their ability to integrate accounting practices, various business models, and business operational procedures for the purpose of maintaining an organization's fiscal, legal, and ethical stability as well as actualize their understanding through imperial research.
Course Code Course Title Credits
ACCT 698

Prerequisite: Completion of at least five Core courses and Dean's or academic advisor's approval.
The thesis work can comprise basic research or a practical project. Students are encouraged to start their thesis work as early as possible. Usually after completing two semesters of course work, the student will be asked to work with a faculty advisor to choose a suitable master’s thesis topic and prepare a thesis proposal. Thereafter, the student completes the project and writes a thesis. The master’s thesis will project will be conducted over a period of two semesters.
3
ACCT 699

Prerequisite: ACCT 698 Master Thesis I
The thesis work can comprise basic research or a practical project. Students are encouraged to start their thesis work as early as possible. Usually after completing two semesters of course work, the student will be asked to work with a faculty advisor to choose a suitable master’s thesis topic and prepare a thesis proposal. Thereafter, the student completes the project and writes a thesis. The master’s thesis will project will be conducted over a period of two semesters.
3

Optional: CPA Professional Preparation Course (1 Course) 3 Credit Hours

To obtain in-depth professional preparation for passing the Certified Professional Accountant (CPA) exam, students may consider taking an additional course. The requirement for taking this course is the completion of MS in Accounting Core Curriculum.

Course Code Course Title Credits
ACCT 650

Prerequisite: Completion of all core courses of MS in Accounting curriculum
The focus of this course is to familiarize students with the CPA exam, as administered by the American Institute of Certified Public Accountants (AICPA). The overall exam administration process will be reviewed and each exam section (Auditing and Attestation, Financial Accounting and Reporting, Regulation, and Business Environment and Concepts) will be reviewed to help students understand the subject matter tested. Additionally, students will participate in practice exam sessions aimed at providing for a self-assessment of exam readiness.
3

Sample Schedule


The following is a sample schedule of the possible sequencing of courses in the MS in Accounting program.

Course Code Course Name Credits
First Semester
MBA 511 Managerial Accounting and Finance 3
MBA 608 Financial Reporting and Decision Making 3
MBA 611 Business Ethics and Law 3
Second Semester
MBA 605 Auditing 3
ACCT 600 Cost Accounting 3
MBA 654 Accounting Information Systems 3
Third Semester
MBA 610 Taxation of Business Entities 3
MBA/ACCT XXX Elective Course 3
ACCT 698 Master Thesis I 3
Fourth Semester
MBA/ACCT XXX Elective Course 3
MBA/ACCT XXX Elective Course 3
ACCT 699 Master Thesis II 3

* The School of Business at Virginia International University is an Educational Member of the International Assembly for Collegiate Business Education (IACBE), and has affirmed its commitment to excellence in business education.