M.S. Accounting

https://www.tamuct.edu/degrees/graduate/accounting.html

OVERVIEW

The Master of Science in Accounting degree is a 30-credit-hour program that provides the coursework needed for students looking to meet the requirements of the Texas State Board of Public Accountancy to sit for the CPA Exam and advance their careers in accounting.  The degree can also serve as a step towards a doctoral degree in accounting.

The Master of Science in Accounting (MS Accounting) program is designed to develop the student’s leadership, decision-making, and critical-thinking abilities. Students entering the program are expected to have an undergraduate degree in accounting. Students without an undergraduate degree in accounting, need to have a foundation of 24 hours of undergraduate accounting coursework to be prepared for graduate accounting program and the CPA exam. Students in the MS Accounting program gain extensive experience in the research, analysis, documentation, and communication or real-world problems in accounting and taxation. The faculty strive to prepare graduate accounting students for career opportunities and to compete effectively in global business.

Program Level Student Learning Outcomes

The student will be able to:

  1. Demonstrate the application of Generally Accepted Accounting Principles, Generally Accepted Auditing Standards, and Internal Revenue Code.

  2. Demonstrate critical thinking by examining and evaluating alternative solutions to accounting problems.

  3. Display ability to critically evaluate ethical issues in accounting.

  4. Demonstrate ability to communicate technical content clearly and concisely.

Entry Requirements

Students will be admitted into the MS Accounting major by the faculty once the following application criteria are met:

  • Successful admission to graduate school.

Master of Science - Accounting Program Requirements

All courses applicable to the program must be attained, at least 30 hours are required for the degree.

MGMT 5350Project Management3
ACCT 5305Accounting Theory3
ACCT 5315Business Law for Accountants3
ACCT 5340Ethics in Accounting3
ACCT 5345Financial Statement Analysis3
ACCT 5355International Accounting3
ACCT 5365Accounting Research Seminar3
ACCT 5370Auditing Seminar3
ACCT 5375Tax Research Seminar3
ACCT 5395Current Topics in Accounting3
ACCT 5090Comprehensive Examination0
Total Credit Hours30

Courses

ACCT 2301. Principles of Financial Accounting. 3 Credit Hours.

This course is an introduction to the fundamental concepts of financial accounting as prescribed by U.S. generally accepted accounting principles (GAAP) as applied to transactions and events that affect business organizations. Students will examine the procedures and systems to accumulate, analyze, measure, and record financial transactions. Students will use recorded financial information to prepare a balance sheet, income statement, statement of cash flows, and statement of shareholders’ equity to communicate the business entity’s results of operations and financial position to users of financial information who are external to the company. Students will study the nature of assets, liabilities, and owners’ equity while learning to use reported financial information for purposes of making decisions about the company.

ACCT 2302. Principles of Managerial Accounting. 3 Credit Hours.

This course is an introduction to the fundamental concepts of managerial accounting appropriate for all organizations. Students will study information from the entity's accounting system relevant to decisions made by internal managers, as distinguished from information relevant to users who are external to the company. The emphasis is on the identification and assignment of product costs, operational budgeting and planning, cost control, and management decision making. Topics include product costing methodologies, cost behavior, operational and capital budgeting, and performance evaluation.

ACCT 3300. Accounting Concepts. 3 Credit Hours.

Learn basic accounting principles, concepts, and methods to include a review of general purpose financial statements and the accounting process. Financial accounting procedures are presented to support the overall managerial function. Used to provide for students without a previous accounting background. (Meets requirements for Accounting I.).

ACCT 3301. Analysis - Using Spreadsheets. 3 Credit Hours.

Learn theory and application of microcomputer spreadsheet technology applied in accounting, finance, management, and other business disciplines. Stimulate creative initiative and to develop basic skills in performing common business tasks. Credit for both CIS 3301 and ACCT 3301 will not be awarded. Prerequisite(s): ACCT 2301.

ACCT 3302. Cost Accounting. 3 Credit Hours.

Learn accounting for material, labor, and manufacturing expenses in both job order and process cost systems. Special emphasis will be given to distribution of service department cost and costing of byproducts and joint products. Prerequisite(s): ACCT 3300 or ACCT 2302.

ACCT 3303. Intermediate Accounting I. 3 Credit Hours.

Study the environment of accounting, development of standards, basic theory, financial statements, worksheets, and the application of generally accepted accounting principles for the business enterprise with emphasis on corporations. Prerequisite(s): ACCT 3300 or ACCT 2301 or permission of department chair.

ACCT 3304. Intermediate Accounting II. 3 Credit Hours.

Continue the study of Intermediate Accounting with a special emphasis on generally accepted accounting principles as applied to the business enterprise. Prerequisite(s): ACCT 3303 or permission of department chair.

ACCT 3305. Governmental Accounting. 3 Credit Hours.

Learn budgeting, accounting, and financial reporting principles and practices for governmental and other not-for-profit entities. Prerequisite(s): ACCT 3303 or permission of department chair.

ACCT 3307. Writing for Accountants. 3 Credit Hours.

(WI) Learn how to improve communication skills for those entering the accounting profession. Study written communication including letter writing, memos, emails, reports, employment resumes, and writing for publication. Special emphasis on organization of thought, critical thinking, and accounting research.

ACCT 3308. Managing Accounting. 3 Credit Hours.

Study the uses of accounting information by management. Accounting procedures and reports essential to management are emphasized, as are cost analysis, cost control, budgeting, and controllership. Prerequisite(s): ACCT 2301 or permission of department chair. Course cannot be counted as part of a degree program for an accounting major.

ACCT 3310. Accounting Information Systems. 3 Credit Hours.

Study the design and implementation of complex accounting information systems. Understand the traditional accounting model and its relationship to each type of accounting information system, including accounts receivable, inventory control, cost accounting, operational budgeting, and capital budgeting. Special emphasis on key elements of a well-designed management control system. Prerequisite(s): ACCT 2301.

ACCT 3387. Cooperative Education. 1-3 Credit Hours.

Integrate academic study with work experience that is relevant to a major or minor. Two-semester minimum requirement that may be accomplished by 1) alternating semesters of full-time study with semesters of curriculum-related employment, or 2) enrolling in courses at least half-time (6 semester hours) and working part- time in parallel positions of curriculum-related employment. Cooperative Education advisor will supervise and assign the final grades. Students may participate in the Cooperative Education but will earn only a maximum of 6 hours credit toward a degree. Prerequisite(s): Completion of 30 semester hours which includes 12 hours in the major or minor discipline in which the Cooperative Education course is desired, minimum overall GPA of 2.5 and a minimum GPA of 3.0 in the appropriate major or minor field, and permission of department chair. Field experience fee $75.

ACCT 4301. Intermediate Accounting III. 3 Credit Hours.

Study financial statement analysis and accounting topics related to financial statement presentation and disclosure. Prerequisite(s): ACCT 3304 or permission of department chair.

ACCT 4303. Advanced Accounting. 3 Credit Hours.

Analyze special phases of partnership accounting, joint ventures, consignments, installment sales, statement of affairs and accounting for insolvent concerns, and business combinations. Prerequisite(s): ACCT 4301 or concurrent registration.

ACCT 4305. Federal Tax Accounting I. 3 Credit Hours.

Study current income tax law and regulations with special emphasis on income tax legislation, treasury and court decisions, departmental rulings, income tax problems and returns, social security, and self-employment taxes. Prerequisite(s): ACCT 2301 and junior standing. Credit for both ACCT 4305 and FIN 4305 will not be awarded.

ACCT 4306. Federal Tax Accounting II. 3 Credit Hours.

Continue the study of current income tax law and tax accounting procedures. Learn about preparation of income tax returns for partnerships and corporations. Prerequisite(s): ACCT 4305 or permission of department chair. Credit for both ACCT 4306 and FIN 4306 will not be awarded.

ACCT 4323. Ethics for Accountants. 3 Credit Hours.

Learn auditing and ethical responsibilities for auditors and other accountants in both public and private practice. Study generally accepted auditing standards, the standard audit report, legal responsibilities of accountants, the Code of Professional Conduct for accountants, independence, and objectivity. Special emphasis on case studies involving ethical reasoning, ethical decision making. Prerequisite(s): ACCT 3304.

ACCT 4324. Auditing. 3 Credit Hours.

Learn procedures used by auditors and accounting practitioners to gather and evaluate information and report on their findings. Special emphasis on evaluation of internal control, planning an audit or other engagement, compliance testing, substantive testing, statistical sampling, evaluation of findings, and preparation of reports. Prerequisite(s): ACCT 3304.

ACCT 4335. Financial Statement Analysis. 3 Credit Hours.

Learn the use of financial statements to analyze the position of a firm. Study analysis techniques and limitations imposed by generally accepted accounting principles. Prerequisite(s): ACCT 3303.

ACCT 4350. Management Information Systems. 3 Credit Hours.

(WI) Study management issues related to business information systems designed to meet the informational needs of the various business subsystems. Special emphasis on the concepts of systems development, security, privacy and ethics associated with information systems. Credit will be awarded for only one of the following courses: ACCT 4350, CIS 4350, or MGMT 4350. Prerequisite(s): COSC 1301 or 3 hours of Advanced CIS or ACCT 3301 or CIS 3301 and junior standing.

ACCT 4357. Accounting Theory. 3 Credit Hours.

Study of the generally accepted accounting rules and principles that govern the practical application of accounting methods. Prerequisite(s): ACCT 3303 and ACCT 3304.

ACCT 4388. Accounting Problems. 1-3 Credit Hours.

Study of selected problems in accounting. Engage in independent research, reading and discussions under the personal direction of the instructor, topics may vary according to student need. May be repeated with permission of department chair. Prerequisite(s): Senior standing and permission of department chair.

ACCT 4389. Special Topics in Accounting. 3 Credit Hours.

Study current issues and developments in accounting. Prerequisite(s): Permission of instructor.

ACCT 5090. Comprehensive Examination. 0 Credit Hours.

Study and take the accounting examination for Non-thesis students. Register for the comprehensive examination during final semester of graduate coursework, or upon permission of advisor. All comprehensive examinations will be written, but an oral component may also be required. A maximum of three attempts will be allowed. Thesis student do not take this examination.

ACCT 5300. Foundations of Accounting. 1 Credit Hour.

Learn basic knowledge of accounting necessary to begin the MBA program. Appropriate for students who have not had prior accounting courses, or who need a refresher course, prior to their MBA studies. Study the accounting process, accounting cycle, preparation of the basic financial statements in corporate annual reports, analysis of corporate financial statements using ratio analysis, the study of cost behavior, and cost-volume-profit analysis.

ACCT 5303. Accounting and Management. 3 Credit Hours.

Study accounting as related to problems of making business and economic decisions. Learn both financial and managerial accounting. MS-ACC majors may not take this course for credit. Prerequisite(s): Required accounting leveling or permission of instructor.

ACCT 5305. Accounting Theory. 3 Credit Hours.

Study the theory of accounting as it has developed in the economy of the United States. Particular emphasis is on concepts, income measurement, and valuation of assets, including valuation and measurement of equities. Application of accounting theory to contemporary problems is analyzed with cases and research papers on selected areas.

ACCT 5310. Advanced Accounting Systems. 3 Credit Hours.

Comprehensive study of computerized accounting systems. Study design, implementation, operation, control and audit techniques of accounting information.

ACCT 5315. Business Law for Accountants. 3 Credit Hours.

Study current business law topics which concern accountants in governing their practice and working with clients.

ACCT 5320. Corporate Tax. 3 Credit Hours.

Analyze formation and capital structures, partial liquidations, S Corporations, accumulated earnings tax, and personal holding companies.

ACCT 5330. Current Topics in Auditing. 3 Credit Hours.

Explore current topics in auditing.

ACCT 5335. Estate Planning. 3 Credit Hours.

Study federal estate and gift taxation, as well as advanced family tax planning. Explore issues in taxation of decedent’s estate and lifetime gifts, and valuation of properties subject to gift and estate taxes.

ACCT 5340. Ethics in Accounting. 3 Credit Hours.

Study of ethics as it relates to problems in business and economic decisions. Explore integration of ethical reasoning, objectivity, independence, and other core values important for the development of a professional accountant. Analyze ethical lapses that have occurred in business and the accounting profession, with readings, problems, and cases requiring use of business and accounting data to evaluate the ethical decision process.

ACCT 5345. Financial Statement Analysis. 3 Credit Hours.

Learn an analytical approach to the application of finance and accounting principles relevant to the analysis of financial statements.

ACCT 5350. Forensic Accounting. 3 Credit Hours.

Learn the complete cycle of investigative auditing. Examine business, through study and evaluation of internal control, and corroborative evidence on the details of account balances. Explore flow-charts, test planning, use of statistical samples, computer controls and management audits. Gain experience through team performance on an extended case audit.

ACCT 5355. International Accounting. 3 Credit Hours.

Examine accounting issues unique to multinational enterprises and international business activities.

ACCT 5360. Information Technology Audit. 3 Credit Hours.

Learn controls, issues and audit techniques to explore the use of a computers as an auditing tool. Utilize generalized audit software currently used in auditing practices. Particular emphasis on computer fraud, security measures and controls in advanced online, teleprocessing systems.

ACCT 5365. Accounting Research Seminar. 3 Credit Hours.

Explore accounting topics in an online environment. Emphasis is on basic accounting research in the areas of accounting theory, accounting practice, and other accounting topics in preparation for research needs encountered in the business environment and on the CPA exam. Stimulate creative initiative in performing accounting tasks and develop basic skills necessary to effectively research accounting and other topics which may be encountered in a business environment.

ACCT 5370. Auditing Seminar. 3 Credit Hours.

Analyze current issues and research in auditing, attestation, and financial disclosures.

ACCT 5375. Tax Research Seminar. 3 Credit Hours.

Develop the technical and research skills needed to address contemporary tax issues. Study tax issues, formulate research questions and develop the research skills needed to address them. Special emphasis on major tax services, evaluating relevant authorities and communicating findings in a professionally written research memorandum, familiarization of federal tax policies and procedures, and the authorities that govern tax practice.

ACCT 5388. Accounting Problems. 1-3 Credit Hours.

Study of selected problems in accounting. Engage in independent research, reading and discussions under the personal direction of the instructor, topics may vary according to student need. Prerequisite(s): Permission of department chair.

ACCT 5389. Special Topics in Accounting. 3 Credit Hours.

Study selected accounting topics of current importance to business management. May be repeated once for credit when topics vary.

ACCT 5395. Current Topics in Accounting. 3 Credit Hours.

Explore selected topics of new or current interest in financial accounting.