The objective of the M.A.S. program is to provide its graduates with the professional skills, knowledge, and competencies necessary to be successful, professional accountants in today’s complex business environment.
The program focuses on broad-based accounting knowledge; knowledge in other business disciplines that complements a professional accounting career; the ability to integrate this knowledge to make business decisions; the development of research, communication, technology and team-building skills; and an understanding of ethical issues and expectations for professional conduct.
In addition to the College of Business standards listed under “Graduate Study in Business,” the admission standard for the Department of Accountancy is a minimum 3.00 GPA in undergraduate accountancy courses. Candidates may also be asked by the department graduate adviser to complete an interview either in person or by phone.
The Institute of Internal Auditors (IIA) has approved NIU as a participant in IIA’s Endorsed Internal Auditing Program. To receive a IIA certificate of completion, a student must have either a B.S. in accountancy from NIU or an M.A.S. degree from NIU. As part of the certificate requirements students must complete ACCY 562, an approved business elective, and an academic internship (ACCY 473 or ACCY 673) in an internal audit position. A student completing the internal audit course work will have “Completion of internal audit course work as endorsed by the Institute of Internal Auditors” on the official NIU transcript.
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The Phase One foundation courses will be included in a student’s program of study unless she or he has earned a C or better in corresponding undergraduate courses or a B or better in equivalent graduate courses elsewhere, or has passed the first and only attempt of the Phase One exemption examination. The M.A.S. program director will determine which Phase One graduate courses will be included in each student’s program of courses. Phase One courses must be completed before enrolling in Phase Two M.A.S. requirements. Phase One courses may not be used as Phase Two electives or requirements.
Required Accountancy Courses
The graduate Phase One requirements must be included in the student’s program unless a grade of C or better has been earned in corresponding undergraduate courses, or the student has passed the first and only attempt of the Phase One exemption examination. A student with a baccalaureate degree in accountancy and acceptable undergraduate grades may have already satisfied Phase One requirements.
A student must have a C or better in each Phase One accountancy course. A student enrolled in Phase One courses may take Phase Two courses at the discretion of the graduate adviser provided the student has successfully completed all prerequisites for the Phase Two courses and has maintained a 3.00 GPA in Phase One courses. However, any student who has not completed all Phase One courses must maintain a 3.00 GPA or above in all Phase One accountancy courses in order to register for any Phase Two course.
None of the required Phase One accountancy courses may be counted as accountancy electives in Phase Two.
The writing of a thesis is optional. It is recommended that calculus be taken in addition to finite math (equivalent to MATH 210).
The M.A.S. student must select specific courses leading to an area of study in financial reporting and assurance, managerial accounting systems, or taxation, or may work with the director to tailor a program of study for the student’s specific academic and career goals. All M.A.S. students must have ACCY 670, Accounting Research, or ACCY 645, Professional Tax Research; and ACCY 690, Accountancy Capstone/Financial Statement Analysis and Business Valuation.
The student is required to complete a minimum of 30 semester hours of work beyond Phase One and the baccalaureate degree. Of these 30 semester hours, 21 must be in classes reserved exclusively for admitted graduate students and 15 of the 21 hours must be in accounting. Nine of the 30 semester hours must be in graduate-level courses in related areas outside the Department of Accountancy with the approval of the adviser. The total Phase Two credits accepted in transfer from other institutions may not exceed 9 semester hours.
Financial Reporting and Assurance Area of Study (30)
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