Accountancy
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
Off Campus Program: Major: Taxation
Degrees Offered: M.S.
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.A.), and Doctor of Philosophy in Accountancy. We also offer the Master of Science in Taxation (M.S.T.) at the Illini Center in Chicago. Graduate minors in finance, corporate governance and international business, and information technology and control 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 M.A.S., M.S.A. and Ph.D. degrees are offered on the Urbana-Champaign campus. We are not currently admitting to the M.S. in Accountancy with a graduate concentration in Tax program either on campus or at the Illini Center in Chicago.
Admission
All applicants for the M.A.S., M.S.A. 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. The M.S.T. offered in Chicago does not require the GMAT for applicants who meet the two-year minimum work experience requirement. Applications for admission to the doctoral program, supported by three letters of recommendation, must be approved by the department admissions committee, which may require an oral or a written examination.
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. Graduate minors in finance, corporate governance and international business, and information technology and control are also available to M.A.S. students.
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:* A concentration is not required. | 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. |
|
|
| Minimum GPA: | 3.0 | 3.0 |
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 1 for fall admission. Application to the concentration should occur at the same time as application to the MAS program.
Master of Science, Accountancy
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 with accountancy backgrounds that vary from a limited to a stronger background. This would include candidates with non-accountancy undergraduate degrees from domestic and international universities and those with accountancy undergraduate degrees from international universities. Individuals with an undergraduate degree in accountancy from a U.S. institution should apply to the MAS program.
Students, with the approval of a program advisor, may customize their MSA course work to reflect educational and career backgrounds, as well as educational and career objectives. The MSA program consists of at least 20 hours in graduate-level accounting courses, together with 12 hours of appropriate graduate electives, at least 4 hours of which must be in non-accountancy graduate courses.
For students just beginning the study of accountancy, the 20 accountancy hours are ACCY 501 through ACCY 505 (each of the five courses awards 4 hours credit). With the approval of a program advisor, students that have an international accountancy undergraduate degree with appropriate course work may substitute other graduate accountancy courses for some of ACCY 501 through ACCY 505 courses. For example, advanced accountancy students may substitute ACCY 511, 512 and 560 for ACCY 501, 502 and 503.
The MSA program begins in June each year with Summer Session II.
Requirements:
| Required Courses | Required Hours |
|---|---|
| ACCY 501, ACCY 502, ACCY 503, ACCY 504, and ACCY 505 or substitute graduate accountancy courses approved by a program advisor | 20 |
| Graduate electives with at least 4 hours credit in a non-accountancy graduate course | 12 |
| Total Hours | 32 |
| Minimum 500-level Hours Required Overall: | 20 (of the total 32 required) |
| Other Requirements:* | |
| Students shall earn least 24 of the 32 total graduate hours while enrolled in the Graduate College at Urbana-Champaign. | |
| Electives shall form a coherent program of study approved by a program advisor. | |
| Minimum MSA program coursework cumulative GPA, both by semester and program overall | 3.0 |
| Minimum MSA accountancy coursework cumulative GPA, both by semester and program overall | 3.0 |
An optional CPA Review course (ACCY 398) is available during the spring semester. This Review course nor the grade count toward the minimum MSA graduation requirements.
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 599) | 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 Examination |
| Although teaching is not a general Graduate College requirement, experience in teaching is considered an important part of the accountancy Ph.D. program. | |
| Minimum GPA: | 3.0 |
| Masters Degree Required for Admission to PhD? | No |
| Qualifying Exam Required (Accountancy Core Examination) | Yes |
| Preliminary Exam Required | Yes |
| Final Exam/Dissertation Defense Required | Yes |
| Dissertation Deposit Required | Yes |
Off Campus Program
Master of Science, Taxation (M.S.T.) The M.S.T. is an executive-style program offered only at the Illini Center in Chicago. The M.S.T. program is a one-year program for students with at least two years of experience. The program 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. Graduation requires 32 graduate hours of study that consists of eight required courses.
Requirements:
| Required Courses | Required Hours |
|---|---|
| ECON 512, ACCY 551, ACCY 552, ACCY 560 | 16 |
| Four different courses in ACCY 553 (selected topics in taxation) | 16 |
| Total Hours | 32 |
| Minimum 500-level Hours Required Overall: | 32 |
| Other Requirements: | |
| Minimum GPA: | 3.0 |