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  Sep 20, 2017
 
 
    
Graduate Record 2011-2012 [ARCHIVED RECORD]

Master of Science in Accounting


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Master of Science in Accounting

The M.S. in Accounting program provides a strong technical foundation as well as a practical understanding of the context within which business decisions must be evaluated.  The 30-credit hour program is designed to be completed in one academic year.  Students are admitted for the fall semester and generally graduate the following May.  The curriculum allows students to meet the 150-hour rule currently required by most states to sit for the CPA exam. Students may specialize in tax, or financial reporting and assurance.

Classes for the M.S. in Accounting are taught in a rigorous yet informal seminar format that encourages a culture of collaboration between and among the faculty and students.  The relatively small size of the program contributes to the friendly, supportive environment.        

Program Prerequisites:


McIntire seeks graduate students who show evidence of strong academic preparation, intellectual curiosity, and a passion for their chosen field of study.  Along with academic preparation and test scores, the admissions committee takes into consideration any relevant work or internship experience; honors; awards; extracurricular activities  personal characteristics such as leadership, ability to work with others, integrity, maturity, and motivation.  Factors such as diversity of perspective and international experience also may be considered.  Candidates who are non-native English speakers also must demonstrate sufficient oral and written English language skills to be successful in the graduate program.

In addition, students must have successfully completed the following courses in accounting prior to matriculation:

  • Intermediate Accounting I & II (six semester hours)
  • Six semester hours of upper-division accounting courses
    • A course equivalent to Commerce 5150 Introductory Assurance Services.
    • A course equivalent to Commerce 5450 Federal Tax I.

Admission Requirements


  • Completed online application form, including all requested documentation and application fee
  • Official transcript from all colleges and universities attended   
  • Official GMAT scores sent to the McIntire School of Commerce 
  • Official TOEFL scores, if applicable, sent to the McIntire School of Commerce (McIntire requires a TOEFL score of 100 iBT/250 computer/ 600 paper-based or higher to be competitive for admissions) 
  • Two letters of recommendation (one preferably from college or university faculty who are familiar with the applicant’s potential for graduate study)

A $75 application fee is required, which can be paid online with the application. If accepted, a non-refundable deposit of $500 will be required and is credited toward the first tuition payment. For more information or to access the online admissions services, please visit the website or contact:

Office of Graduate Admissions

McIntire School of Commerce
Rouss & Robertson Halls, East Lawn
University of Virginia
P.O. Box 400173
Charlottesville, VA 22904-4173
(434) 924-3571 Toll-free (877) 349-2620
msaccounting@virginia.edu
www.commerce.virginia.edu/msaccounting

Departmental Financial Aid


The McIntire School of Commerce offers a limited number of departmental scholarships to qualified graduate students in the MS in Accounting program.  Scholarships are awarded based on merit and financial need, and priority is given to those students who apply by February 1st of each admission cycle.  Prospective students must complete a Departmental Aid Application Form and submit this with their application materials by the priority deadline.  Scholarship awards will be communicated to students once admission decisions have been rendered.

Grading Policy


Grades are awarded only to those students who are registered for, and who complete a course for, credit. All courses are on a credit basis only. The letter grade symbols used for grading graduate students in the Accounting program are: A+, A, A-, B+, B, B-, C, D, F. Students are required to maintain a GPA of 3.00 to remain in the program and graduate. Student performance may be evaluated periodically by the faculty.  At these points of evaluation, students found not to be in good academic standing, may be placed on academic probation or if already on probation may be dismissed from the program. In addition, a student who earns six credits of sub-standard performance (C or lower) is placed on probation; a probationary student who earns one additional grade of C or lower is dismissed from the program. A student who receives a grade of F (non-performance) in any course is automatically dismissed from the program.

Employment


Students may not engage in employment in excess of what is compatible with a full-time commitment to the graduate study of accounting. Therefore, full-time students may NOT be employed for more than 20 hours per week or receive financial compensation or financial awards for activities requiring more than 20 hours per week.

Residency, Enrollment Requirements and Time to Degree Completion


All degree candidates must complete two full semesters in residence except in the case of students who (A) graduated from the undergraduate program at the McIntire School of Commerce and (B) completed adequate undergraduate credits and specific 5000 level courses in their undergraduate program to transfer semester hours to qualify for a one semester residency requirement. Those one-semester residency students must complete 18 semester hours in courses approved for graduate credit in the M.S. in Accounting Program and their one-semester of residence. Students interested in this one-semester alternative should contact the Office of Graduate Admissions to assess eligibility. All other students must carry a minimum of 12 hours per semester to be considered a full-time student in the M.S. in Accounting Program. These 12 semester hours must be for courses approved for graduate credit in the M.S. in Accounting Program.
 
All students must complete the program within four semesters from the time they initially enroll in the program.  Student failing to meet the program requirements within four traditional semesters (fall and spring) will be dismissed from the program.

Leave of Absence

Requests for a leave of absence should be made in writing to the Associate Dean for Graduate Programs and cannot exceed one calendar year.  Permission to take a leave of absence is granted only in rare circumstances.  If a student plans to return to the MS in Accounting program, written notification must be sent to the Associate Dean for Graduate Programs at least three month prior to the beginning of the semester when a student plans to re-enroll in the program.  The Associate Dean and Academic Program Director will determine how the student’s remaining academic requirements will be met and communicate that information to the student prior to returning from a leave of absence.

Because academic requirements and specific courses offered might change from year-to-year, the academic requirements for a student returning from a leave of absence will reflect the combination of courses that the Academic Program Director determines will best approximate the program requirements in place throughout the period of time the student is enrolled in the program.

Track requirements


Two-semester students must choose a track of study:  Tax Consulting (“Tax”) or Financial Reporting & Analysis (“FRA”).   One-semester students do not have a specific track.  Each student will be asked to declare their track preference during the summer prior to the beginning of one’s program of study.  At that time, the exact track or program requirements will be communicated in writing to each student and will serve as the official program of study for that student’s time in the MS in Accounting program.  The typical requirements for each track are outline below, but official details will be communicated by the Program Director prior to the start of each academic year.

Tax track

• GCOM 7400 – Leading for Success in the Accounting Profession
• Four graduate tax classes
           o GCOM 7410 – Tax Research
           o GCOM 7430 – Taxation of Partnerships and Flow-through Entities
           o GCOM 7440 – Taxation of Corporations and Their Shareholders’ Transactions
           o GCOM 7420 – Business Strategy and Taxes
• One of the following FR&A courses:
           o GCOM 7320 – Accounting Policy
           o GCOM 7350 – Special Topics – Auditing
           o GCOM 7371 – Financial Statement Analysis and Valuation
• One of the following courses:
           o GCOM 7310 – Strategic Business Advising and Communication
           o GCOM 7780 – Project Management
• Three additional courses from those courses eligible for graduate credit.  These courses can be additional FR&A-track courses or other courses described in the accompanying information.

FR&A track

• GCOM 7400 – Leading for Success in the Accounting Profession
• Four FR&A classes
           o Two of three of the following:
                      o GCOM 7330 – Enterprise Risk Management and Consulting
                      o GCOM 7340 – Special Topics – Financial Reporting
                      o GCOM 7341 – Accounting for Derivatives
           o Two of three of the following:
                      o GCOM 7320 – Accounting Policy
                      o GCOM 7350 – Special Topics – Auditing
                      o GCOM 7371 – Financial Statement Analysis and Valuation
• GCOM 7480 – Legal Liability and the Regulation of Accountants
• One of the four graduate tax classes (Fall/Spring) or Income Tax II (COMM 5460)
• One of the following:
           o GCOM 7310 – Strategic Business Advising and Communication
           o GCOM 7780 – Project Management
• Two additional courses from those courses eligible for graduate credit.  These could be additional Tax-track or FR&A-track courses not used to fulfill the requirements listed above, or other courses described in the accompanying information.
 

In either the Tax Consulting track or the FRA track, you can take more than one course from the other track (e.g., if you are in the FR&A track, you must take one tax course, but you can take more than one if you desire).

One-semester track

• GCOM 7400 – Leading for Success in the Accounting Profession
• Four classes from the following set of six graduate accounting classes
            o GCOM 7410 – Tax Research
            o GCOM 7430 – Taxation of Partnerships and Flow-through Entities
            o GCOM 7440 – Taxation of Corporations and Their Shareholders’ Transactions
            o GCOM 7340 – Special Topics – Financial Reporting
            o GCOM 7330 – Enterprise Risk Management and Consulting
            o GCOM 7341 – Accounting for Derivatives
• One additional course from the following set
            o GCOM 7480 – Legal Liability and the Regulation of Accountants
            o GCOM 5871 – Business Communications
            o Any one additional of the six graduate accounting classes listed above
 

Transfer of Credit


Up to six credits for approved courses can be transferred to satisfy the 30 credit graduation requirement in the M.S. in Accounting program. Transfer credits must be approved by the Director of the M.S. in Accounting Program. In general, courses will only be approved for transfer if they are equivalent to graduate courses available at the McIntire School of Commerce. Specific approval for credit transfer will be based on evaluation of the rigor and content of the course, and will only be granted when the course was taken at an accredited institution and was not required to satisfy undergraduate degree requirements. Students in the one-semester residency program (described above) may transfer 12 credits toward their graduation requirement, but those transfers must be approved by the Director of the M.S. in Accounting Program. All students requesting transfer credit must provide adequate documentation of course details and undergraduate degree requirements to support their request.

Course Enrollment


Enrollment in M.S. in Accounting courses is generally restricted to students in that specific program. Permission may be granted to non-degree students to enroll in these courses on an exception basis. A request for this exception must be made in writing to the Director of the M.S. in Accounting program. Requests will be evaluated based on course availability, applicant qualifications and any other factors that might impact the administration of the graduate course under consideration. Exceptions will be granted on a case by case basis for no more than two courses for any student not admitted to the M.S. in Accounting program and will be permitted only under rare circumstances.

M.S. in Accounting Course Descriptions


All courses are three credits unless otherwise noted.

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