Master of Accounting Science

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.

Admission to the Master of Accounting Science program is competitive. Candidates may be asked by the department graduate advisor to complete an interview either in person or electronically.

Applicants must submit the following materials:

A resume, and
A statement of purpose.

Students with insufficient relevant experience in specific business disciplines may need to complete additional Phase One courses.

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.

Check departmental information for any additional requirements.

Master of Accounting Science Learning Competencies and Outcomes

Graduates from the NIU Department of Accountancy Master of Accounting Science will fulfill the following learning competencies and outcomes.

Learning Competency 1: Apply accounting concepts to solve problems.

Learning Outcome 1: Demonstrate appropriate knowledge of technical accounting concepts.

Learning Outcome 2: Support conclusions using appropriate analysis and research.

Learning Competency 2: Demonstrate professional skills necessary for the accounting profession.

Learning Outcome 3: Communicate accounting and business information clearly and persuasively.

Learning Outcome 4: Develop skills to receive and provide feedback.

Learning Competency 3: Demonstrate data literacy skills necessary to interpret, transform, and analyze data for decision-making in complex accounting environments.

Learning Outcome 5: Assess data quality and transform data as needed to conduct appropriate analyses.

Learning Outcome 6: Apply data analysis tools and techniques to answer business questions.

Learning Outcome 7: Evaluate results and communicate data-driven recommendations.

Phase One

The College of Business has Phase One requirements that must be completed by each student. See Phase One Requirements listed under “Graduate Study in Business.” College of Business Phase One courses must be completed before enrolling in Phase Two M.A.S. requirements. No Phase One course may be used to satisfy a Phase Two elective or requirement. The director of graduate studies in Accountancy will determine which College of Business Phase One graduate courses will be included in each student’s program of courses based upon successful completion of undergraduate course work.

ACCY 310, or its equivalent, will be accepted as meeting the Phase One requirement of OMIS 507 for entering M.A.S. students.

And

The M.A.S. has Phase One requirements that 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. A student with a baccalaureate degree in accountancy and acceptable undergraduate grades may have already satisfied M.A.S. Phase One requirements. Courses completed for the Foundation of Accountancy certificate of graduate study meet most of the M.A.S. Phase One accountancy requirements. Earning a Foundation of Accountancy certificate of graduate study does not waive the admission criteria. The director of graduate studies in Accountancy will determine which M.A.S. Phase One graduate courses will be included in each student’s program of courses. A student must have a C or better in each M.A.S. Phase One accountancy course. A student enrolled in M.A.S. Phase One courses may take Phase Two courses at the discretion of the director of graduate studies in Accountancy provided the student has successfully completed all prerequisites for the Phase Two courses and has maintained a 3.00 GPA in M.A.S. Phase One courses. None of the required M.A.S. Phase One courses may be counted as accountancy electives in Phase Two. It is recommended that calculus be taken in addition to finite math (equivalent to MATH 210). The writing of a thesis is optional.

Required Accountancy Courses (M.A.S. Phase One Course Work):

ACCY 510 - Accounting Information Systems Credits: 3
ACCY 520 - Intermediate Cost Management Credits: 3
ACCY 531 - Financial Reporting I Credits: 3
ACCY 532 - Financial Reporting II Credits: 3
ACCY 550 - Taxation of Business Entities Credits: 3
ACCY 560 - Assurance Services Credits: 3

Phase Two

Students are required to complete a minimum of 30 semester hours of course work beyond Phase One and the baccalaureate degree. The total Phase Two credits accepted in transfer from other institutions may not exceed 9 semester hours. ACCY courses numbered 600 or above and completed with a C or better in either the Certificate of Advanced Study in Accountancy or the Certificate of Advanced Study in Accounting Analytics meet Phase Two requirements; however, students must maintain a minimum average GPA of 3.00 in all graduate course work completed in Phase Two.

Students must complete a minimum of 30 semester hours of course work and all required activities related to professional development. Students may pursue a program of study with an emphasis on financial reporting and assurance, managerial accounting systems, data analytics, or taxation, or may work with an advisor to tailor a program of study to their specific academic and career goals.

Students must complete 21 semester hours of graduate-level accounting course work including:

ACCY 670 - Accounting Research Credits: 3
OR ACCY 645 - Professional Tax Research Credits: 3
ACCY 672 - Professional Development Skills in Accounting Credits: 3
ACCY 675 - Data Analytics and Decision Making in Accounting Credits: 3

Students must also complete:

Nine semester hours of additional graduate-level course work approved by the department (9)

Four of the following (12)

ACCY 521 - Advanced Cost Management Credits: 3
ACCY 535 - SEC Reporting and Corporate Governance Credits: 3
ACCY 562 - Internal Auditing Credits: 3
ACCY 565 - Forensic Accounting/Fraud Examination Credits: 3
ACCY 580 - Governmental and Not-For-Profit Accounting Credits: 3
ACCY 604 - Independent Study in Accounting Credits: 1-3
ACCY 633 - Advanced Financial Reporting Credits: 3
ACCY 650 - Taxation of Individuals Credits: 3
ACCY 664 - Advanced Financial Statement Auditing Credits: 3
ACCY 667 - Information Systems Auditing Credits: 3
ACCY 673 - Internship in Accountancy Credits: 3
ACCY 679 - Seminar in Accounting Credits: 3
ACCY 682 - International Accounting Credits: 3
ACCY 690 - Financial Statement Analysis and Business Valuation Credits: 3

Accelerated B. S. in Accountancy/Master of Accounting Science (MAS)

Admission

This program leads to both the B. S. in Accountancy and Master of Accounting Science (MAS) degrees. Students who want to complete this program must identify themselves to the Department of Accountancy as majors who will complete the accelerated program. The program is open to all undergraduates who major in Accountancy and have at least 90 semester hours of undergraduate course work with a minimum grade point average of 3. 00. Students who have met these standards in their B. S. in Accountancy degree program must also apply for admission to the MAS program under the special provisions of this program and meet the application deadline. To qualify for this program, applicants must have a C or better in ACCY 332 and either ACCY 320 or ACCY 360, and may be required to participate in an oral interview with the department chair or the MAS program advisor. Admission will be on a competitive basis. Interested students should meet with an academic advisor as early as possible.

Curriculum

Students must complete all the fundamental business requirement courses for the B. S. in Accountancy degree program as well as all general education requirements prior to or concurrent with taking classes in the MAS program. Once admitted into the accelerated B. S. in Accountancy/MAS program and having completed all course requirements for entry, students will start taking classes in the MAS program (up to 15 semester hours), which will also count toward 15 semester hours in the undergraduate degree.