Course Information Suite

Accountancy

Head: Ira Solomon
Director of Graduate Studies: Clif Brown
360 Wohlers Hall
1206 South Sixth Street
Champaign, IL 61820
(217) 333-0857
E-mail: accy@illinois.edu

Major: Accountancy
Degrees Offered: M.A.S., M.S., Ph.D.
Graduate Concentration: Tax (M.S. only)
Graduate Concentration: Taxation (M.A.S. only)

Off Campus Program: Major: Accountancy
Degrees Offered: M.S. with a Graduate Concentration in Tax

Graduate Degree Programs

The Department of Accountancy offers on campus graduate programs leading to the degrees of Master of Accounting Science (M.A.S.) with an optional concentration in Taxation, Master of Science in Accountancy (M.S.) with a graduate specialization in international accounting & auditing, and Doctor of Philosophy in Accountancy. Graduate minors in finance (need to add link) and information technology and control (need to add link) are also available to M.A.S. students. The master's degree requirements can be completed in one year. The Ph.D. degree takes approximately four to five years of full-time study and research. The department also offers the Master of Science in Accountancy with a specialization in taxation in Chicago.

Admission

Applicants for the M.A.S. and Ph.D. programs, domestic or international, are required to take the Graduate Management Admission Test (GMAT). This test should be taken early enough to ensure that the results will be available to the department before action on admission. The admission requirements of the Graduate College also apply, including prior academic performance and references. In addition, all international applicants must take the Internet- Based Test of English as a Foreign Language (TOEFL iBT) or the International English Language Testing System (IELTS) test. While the GMAT is not required for admission to the M.S. in Accountancy with specialization in international accounting and auditing program, the department strongly recommends students take this test. The M.S. with a specialization in taxation offered in Chicago does not require the GMAT for applicants who meet the three-year minimum work experience requirement.

Degree Requirements

*For additional details and requirements refer to the department's program information online and the Graduate College Handbook.

Master of Accounting Science (M.A.S.)

The M.A.S. program is a one-year program for students with an undergraduate background in accounting. Students applying for admission should have acquired a background in business and accounting equivalent to a Bachelor of Science in Accountancy. The background courses in business that must be completed before admission to the program include mathematics (calculus and linear algebra), computer science, intermediate microeconomics, statistics (two courses), and functional areas of business, such as marketing, corporate finance, and organizational behavior.

Requirements:

Required Courses Required Hours Required Hours-Taxation Concentration
ACCY 511 and ACCY 512 8 8
Electives in either accountancy or non-accountancy 8 8
Accountancy electives 8  
Electives in non-accountancy 8 4
Graduate hours of taxation   12
Total Hours 32 32
             Minimum 500-level Hours Required Overall: 20 20
Other Requirements:* 24 of the 32 total graduate hours must be earned while enrolled in the Graduate College at the Urbana Campus.  
  The electives, both accountancy and non-accountancy, shall form a coherent program of study, approved by a program advisor.  

The Department offers a graduate concentration in taxation designed to provide students with sufficient knowledge and skills to begin a career in taxation.  The prerequisite for admission is admission to the Master of Accounting Science program.  Admission is limited and acceptance is on a competitive basis. Admission to the concentration requires application to the Department no later than February 15 for fall admission.  Application to the concentration should occur at the same time as application to the MAS program.

Master of Science

The M.S.in Accountancy (M.S.A) program is a one-year program designed to meet the professional accounting career development needs of individuals engaged in international business. The M.S.A. provides international students with their first experience with an U.S.-based accounting education. The program accepts those with little prior study or experience in accounting whom wish to prepare for a career in accounting. The program begins in June with Summer Session II.

Requirements:

Required Courses Required Hours
ACCY 501, ACCY 502, ACCY 503, ACCY 504, and ACCY 505 20
Electives in either accountancy or non-accountancy 8
Electives in non-accountancy 4
Total Hours 32
             Minimum 500-level Hours Required Overall: 20
Other Requirements:* At least 24 of the 32 total graduate hours must be earned while enrolled in the Graduate College at the Urbana Campus
  The electives, both accountancy and non-accountancy, shall form a coherent program of study, approved by a program advisor.

Doctor of Philosophy

The student's doctoral program is determined in consultation with a faculty advisory committee. The student's evolving plans for the doctoral thesis serve as a guide in planning the program. Program coursework is comprised of two general categories: core studies and advanced studies within an area of specialization (i.e., a supporting field).  The latter coursework is especially tailored to facilitate the student's dissertation.

In addition, candidates must pass a written accountancy core examination and both oral preliminary and oral final examinations on the doctoral thesis. In the accountancy core examination, candidates must demonstrate a thorough knowledge of research methods and accounting theory; a general acquaintance with the subject matter of the variety addressed within accountancy doctoral core studies; and proficiency in the required areas of economic theory, quantitative methods, behavioral science and financial economics.

Requirements:

Required Courses Required Hours
Graduate study, at least 16 hours of which are in a supporting field (e.g., economics, finance, psychology). Students generally take at least one graduate elective course in finance and at least one graduate elective course in psychology.  They take additional courses in their supporting field. 24
A two-course introduction to mathematical statistics and probability theory 8
Accountancy core doctoral seminars:
Introduction to Accountancy Research (ACCY 592)
Constructs in Accountancy Research (ACCY 585)
Behavioral Accountancy Research (ACCY 593, section B)
Financial Economics Accountancy Research (ACCY 593, section C)
16
Research project in accountancy (ACCY 593, section S) 4
Accountancy Doctoral Research Seminar (ACCY 594) in area of specialization 4
Microeconomics at the graduate level (ECON 500), and another economics course at the graduate level from an approved listing 8
Doctoral Thesis Research (ACCY 499) 32
Total Hours 96
Minimum Hours Required Within the Unit:
56
Minimum 500-level Hours Required Overall:
60
Other Requirements: Students must present a research paper at the Accountancy Research Forum no later than one year after the successful completion of the Accountancy Core Preliminary Examination
  Although teaching is not a general Graduate College requirement, experience in teaching is considered an important part of the accountancy Ph.D. program.
Masters Degree Required for Admission to PhD? No
Qualifying Exam Required (Accountancy Core Preliminary Examination) Yes
Preliminary Exam Required Yes
Final Exam/Dissertation Defense Required Yes
Dissertation Deposit Required Yes

Off Campus Program

The M.S. in Accountancy with a specialization in Taxation program is a one-year program for students with at least three years of professional experience. The program, offered only at the Illini Center in Chicago, begins in May and meets weekly on Friday afternoons and all day Saturday. Students applying for admission should have acquired a background in business and an accounting undergraduate major from an accredited college or university.

Requirements:

Required Courses Required Hours
ECON 512 4
ACCY 551, 552, and 560 12
3 sections of ACCY 553 12
ACCY 593 4
Total Hours 32