Accounting

Graduate Programs

Description

The Master of Accounting (MAcc) is a graduate professional degree designed to prepare students for public and private accounting and to provide students with the 150 credit hours required by most states before taking the Uniform Certified Public Accountant (CPA) Exam. This program enables students to complete the program in one year and contains fifteen two credit courses or 30 credit hours in total. The program includes graduate accounting courses and graduate business electives from the Minnesota State University, Mankato MBA program. The program is designed to not only prepare students for the CPA examination but also to provide a strong knowledge of accounting principles and business applications. 

Majors

Program Locations Total Credits
Accounting MACC MACC - Master of Accounting
  • Mankato
  • Edina
30
Accounting MS MS - Master of Science
  • Mankato
  • Edina
30

Certificates

Program Locations Total Credits
Taxation GC
  • Edina
10

Policies & Faculty

Policies

Admission to the MAcc Program is competitive. An undergraduate degree is required for admittance; undergraduates in their senior year can apply for admission but would not be able to take MAcc courses until their degree is conferred. Applicants with degrees other than accounting must complete, at a minimum, the Intermediate Accounting course sequence before applying for the MAcc. Applicants without an undergraduate accounting degree must complete equivalent undergraduate accounting courses before beginning their MAcc coursework. Equivalent coursework would include, at a minimum, the following subjects: introductory financial accounting and management accounting, intermediate financial accounting, advanced financial accounting, cost or management accounting, auditing, individual income tax, corporate income tax, and accounting information systems. A business law contracts course is strongly recommended as well.

For students who are six to eight credits from their undergraduate degree in Accounting access to MAcc courses is possible.

Students in the MACC program can receive a maximum of eight (8) credits from non-MACC courses.

The admission process is the same whether you are planning to take courses in Mankato or at the Normandale Campus:

Students must first obtain admission from the College of Graduate Studies and Research. The application is available at grad.mnsu.edu/applying. This completed application, along with two official transcripts from all colleges and universities attended, a completed immunization form and a $40 application fee must be submitted to:

College of Graduate Studies and Research
Minnesota State University, Mankato
115 Alumni Foundation Center
Mankato, MN 56001
Phone: 507-389-2321
Fax: 507-389-5974

Students who do not use English as their first language must demonstrate the ability to study in English by submitting a score of at least 500 on the written Test of English as a Foreign Language (TOEFL) test, 173 on the computer-based test or 61 or better on the web-based exam. We will also accept a score of 6 or better on the IELTS. Applicants from countries where English is the sole official language of instruction [Australia, Bahamas, Barbados, Canada (except Quebec), England, Ghana, Ireland, Jamaica, Kenya, New Zealand, Nigeria, For students who are six to eight credits from their undergraduate degree in Accounting access to MAcc courses is possible. Scotland, St. Vincent and the Grenadines, Trinidad, Tobago, Uganda and Wales] are typically not required to submit TOEFL results.

A Graduate Management Admissions Test (GMAT) score of 500 or above is also generally required. Test scores must be sent directly to the College of Graduate Studies and Research from GMAC. This requirement will be waived for applicants meeting one of the following criteria:

  • Applicant has an undergraduate degree from Minnesota State University, Mankato’s College of Business or is in the last semester completing an undergraduate degree from Minnesota State University, Mankato with a 3.2 overall GPA and a 3.0 GPA in the Intermediate Accounting courses.
  • Applicant has passed the CPA exam.
  • Applicant has a PhD, JD, or MD.
  • Applicant has a Master’s from an AACSB accredited business school.

After review of your application, the admissions committee, at their discretion, may also request the submission of two letters of reference. The committee may also request that the applicant participate in an interview with the chair of the MAcc program.

Contact Information

150 Morris Hall

Main Office (507) 389-2965
https://cob.mnsu.edu/macc

Faculty

Chair
  • Byron Pike
Faculty

600 Level

Credits: 2

The theoretical structure underlying financial accounting will be discussed. The relationship of accounting theory to basic financial statements and standard setting will be analyzed. Case analysis will require research in accounting standards and application of those standards to various situations.

Prerequisites: none

Credits: 2

This course provides in-depth coverage of contemporary tools and techniques available for analyzing financial statements and other relevant data to derive measurements and relationships useful in decision making.

Prerequisites: none

Credits: 2

This course examines accounting rules and regulations for governmental and not-for-profit entities.

Prerequisites: none

Credits: 2

The course provides an overview of organizing, financing and managing corporations, risk management, bankruptcy and foreclosure. SEC oversight of publicly traded securities, insider trading restrictions, and liability issues are also examined. Professional and ethical responsibilities of accountants are discussed.

Prerequisites: none

Credits: 2

This course addresses specialized topics in accounting, auditing, or taxation. Topics will vary by semester.

Prerequisites: none

Credits: 2

This course examines the audit of investments, equity, estimates, going concern issues, and other advanced topics related to the audit of financial statements. The course also covers non-audit services such as compilations, SSARS reviews, and agreed upon procedures engagements.

Prerequisites: none

Credits: 2

This course examines the principles and methodology of fraud detection and deterrence. Topics include skimming, cash larceny, check tampering, register disbursement schemes, billing schemes, payroll and expense reimbursement schemes, non-cash misappropriations, corruption, fraudulent financial statements, and interviewing witnesses.

Prerequisites: none

Credits: 2

This course is an analysis and discussion of the requirements and standards related to audits of government entities, not-for-profit organizations, and employee benefit plans.

Prerequisites: none

Credits: 2

This course is designed for those interested in financial auditing. The course focuses on the processes involved in information technology (IT) auditing, from planning an IT audit to auditing controls. Topics include general controls, application controls, and audit technology applications. Auditing standards and frameworks, including the COSO and COBIT frameworks, are examined. The approach to performing a SOX audit for the IT infrastructure that supports key financial applications is discussed.

Prerequisites: none

Credits: 2

This course concentrates on the skills needed to research tax questions. The research process employed to ascertain the state of the Federal tax law applicable to the facts, and the formulation of conclusions and professional recommendations is also explored.

Prerequisites: none

Credits: 2

This course examines the tax impact of the conduit rule, partnership formation, operation, sale and dissolution of a partnership; income to the partners, withdrawal and retirement of partners; and basis calculations.

Prerequisites: none

Credits: 2

This course examines issues and rules governing the taxability of C-corporations and their shareholders. The tax concepts and rules related to the activities of formation, operations, distributions, and liquidation are reviewed for the C-corporation entity and its shareholders.

Prerequisites: none

Credits: 2

The course examines significant principles of the federal tax system as applied to individuals and entities to provide a deeper understanding and appreciation of tax rules and underlying policies. The course will utilize the study of critical tax cases and application of tax laws to factual scenarios.

Prerequisites: none

Credits: 2

This course addresses the importance of using data for business decision making purposes. Students will learn to identify specific business problems, evaluate potential solutions, and use data to provide a foundation for making sound business decisions. This will be accomplished through the use of systematic problem solving tools, the exploration of commonly used business analytics methodologies, and the learned use of specific software packages.

Prerequisites: none

Credits: 2

The course examines the IFRS reporting practices of various countries and examines recognition and disclosure differences of the major classes of assets and liabilities reported in accordance with IFRS and US GAAP. Hedging transactions of multinational corporations are also discussed.

Prerequisites: none

Credits: 2

This course provides an overview of US electronic banking rules, commonly used financial instruments and collateralizing lending. Discussion will focus on equity, debt and convertible securities, as well as common uses of derivatives.

Prerequisites: none

Credits: 1-4

Participation in a paid full-time position with a cooperating business, governmental, or civic organization whose program has been approved in advance by the department in which the student has an approved major. Credits provided upon completion of all requirements.

Prerequisites: none

Credits: 2

This course will employ hands-on application of accounting and tax concepts to case applications. Applications will include completion of the accounting cycle as well as researching in accounting standards and tax law to address appropriate treatment of transactions.

Prerequisites: MACC 615