Twin Cities campus
 
Twin Cities Campus

Accountancy M.Acc

Accounting
Curtis L. Carlson School of Management
Link to a list of faculty for this program.
Contact Information
Master Programs in Accounting, 3-110 Carlson School of Management, 321 19th Avenue S, Minneapolis, MN 55455 (612-624-7511; fax: 612-626-7795)
  • Program Type: Master's
  • Requirements for this program are current for Spring 2018
  • Length of program in credits: 30 to 48
  • This program does not require summer semesters for timely completion.
  • Degree: Master of Accountancy
Along with the program-specific requirements listed below, please read the General Information section of this website for requirements that apply to all major fields.
The Master's of Accountancy (MAcc) program offers a 30-credit track for students with a degree in accounting or finance. It provides these students with an opportunity to enhance their management skills with graduate-level courses in accounting, finance, taxation, information systems, and supply chain and operations. Completing the MAcc program enables them to meet the 150 semester hour requirement for CPA certification. In addition, it provides finance majors the opportunity to take accounting courses, required to sit for the CPA examination, that were not taken for their bachelor's degree. The MAcc program also offers a 48-credit track to students with a bachelor's degree in an academic discipline other than accounting. The eight required core courses include the necessary accounting courses needed to sit for the CPA examination. Elective courses in the MAcc program cover a broad range of topics in accounting, taxation, finance, supply chain and operations, and information systems. The curriculum has been designed and developed by Carlson School of Management faculty with extensive input and ongoing consultation with executives from the professional community. This ensures relevant, practical, and challenging courses that enhance the students' professional development. Students may choose to complete the program on a full-time or part-time basis. The majority of the courses are offered in the evenings (Monday-Thursday, 5:45-9:05 p.m.).
Program Delivery
  • via classroom (the majority of instruction is face-to-face)
Prerequisites for Admission
Other requirements to be completed before admission:
All applicants must have a bachelor's degree from an accredited college or university and a cumulative undergraduate grade point average of 3.0 (on a 4.0 scale) or higher. Applicants with a bachelor's degree in accounting (or equivalent coursework) or finance are generally eligible for the 30-credit MAcc program. Students who have a bachelor's degree in an academic discipline other than accounting or finance are eligible to apply for the MAcc program and take the 48-credit track. The following courses (or equivalents) are prerequisites to the MAcc courses: IDSC 3001 Information Systems, FINA 3001 Finance Fundamentals, ACCT 2050 Financial Accounting, ACCT 3001 Management Accounting, ACCT 5101 Intermediate Accounting I. They can be taken after being admitted to the MAcc program but do not apply to the 48-credit requirement. Coursework will be evaluated after applying.
Special Application Requirements:
Summer/Fall application deadline: February 1 priority, followed by rolling admission until program is full. Spring application deadline: October 1 priority, followed by rolling admission until program is full. Applicants must submit all application materials through the University's admission system. Application materials include: Three letters of recommendation from persons qualified to evaluate most recent work and potential for graduate study. A GMAT score that is not more than five years old is required. The GMAT score must be sent directly from GMAT to be considered official. Admitted Carlson School of Management undergraduate students will have the GMAT requirement waived. For international students, the results from one of the following English language tests are required: TOEFL, IELTS, MELAB. TOEFL scores must be received directly from TOEFL. IELTS and MELAB scores must be received directly from the testing center. For additional application details, review the M.Acc. admissions webpages.
For an online application or for more information about graduate education admissions, see the General Information section of this website.
Program Requirements
Plan C: Plan C requires 30 to 48 major credits and 0 credits outside the major. There is no final exam.
This program may not be completed with a minor.
Use of 4xxx courses towards program requirements is not permitted.
A minimum GPA of 2.80 is required for students to remain in good standing.
The MAcc program requires either 30 or 48 credits, depending on bachelor's degree. The 30-credit program includes 12 required credits from three core courses. The 48-credit program includes 30 required credits from eight core courses. Both programs also require 18 elective credits from a designated pool of courses in accounting, taxation, finance, information and decision sciences, and supply chain and operations. Students in the 30-credit MAcc program are required to have completed the following courses (or equivalent courses) in their undergraduate program or in their MAcc. program. If required to take any of these courses in the MAcc program, the number of elective credits is reduced by that number of credits. • ACCT 5102 Intermediate Accounting II, 4 cr • ACCT 5125W Auditing, 4 cr • ACCT 5135 Fundamentals of Federal Income Tax, 4 cr • BLAW 3058/6158 The Law of Contracts and Agency, 4 cr
Required Courses for 30-Credit MAcc Program
Students with an undergraduate degree in accounting or finance will complete the 30-credit MAcc program and take three required core courses (12 credits) in addition to 18 credits of electives.
ACCT 6601 - Internal Control (4.0 cr)
ACCT 6602 - Securities and Exchange Commission (SEC) and Standard Setting (4.0 cr)
IDSC 6003 - Accounting and Information Systems (4.0 cr)
Required Courses for 48-Credit MAcc Program
Students with an undergraduate degree in a field other than accounting or finance will complete the 48-credit MAcc program and take eight required core courses (30 credits) in addition to 18 credits of electives.
ACCT 5102 - Intermediate Accounting II (4.0 cr)
ACCT 5125W - Auditing Principles and Procedures [WI] (4.0 cr)
ACCT 5135 - Fundamentals of Federal Income Tax (4.0 cr)
ACCT 5201 - Intermediate Management Accounting (2.0 cr)
BLAW 6158 - The Law of Contracts and Agency (4.0 cr)
ACCT 6601 - Internal Control (4.0 cr)
ACCT 6602 - Securities and Exchange Commission (SEC) and Standard Setting (4.0 cr)
IDSC 6003 - Accounting and Information Systems (4.0 cr)
Elective Courses (18 credits)
Take 18 - 20 credit(s) from the following:
· ACCT 5126 - Internal Auditing (2.0 cr)
· ACCT 5180 - Consolidations and Advanced Reporting (2.0 cr)
· ACCT 5201 - Intermediate Management Accounting (2.0 cr)
· ACCT 5236 - Introduction to Taxation of Business (2.0 cr)
· ACCT 5310 - International Accounting (2.0 cr)
· ACCT 5420 - MAcc directed study (1.0-4.0 cr)
· ACCT 6603 - Advanced Auditing (4.0 cr)
· ACCT 6604 - Advanced Management Accounting (2.0 cr)
· ACCT 6605 - Negotiations for Financial Executives (2.0 cr)
· FINA 6121 - Debt Markets, Interest Rates, and Hedging (2.0 cr)
· FINA 6241 - Corporate Finance Analysis and Decisions (4.0 cr)
· FINA 6242 - Advanced Corporate Finance Analysis and Decisions (4.0 cr)
· FINA 6322 - Financial Modeling (2.0 cr)
· FINA 6341 - World Economy (4.0 cr)
· FINA 6522 - Introduction to Derivatives and Financial Risk Management (2.0 cr)
· FINA 6621 - International Financial Management (2.0 cr)
· IDSC 6423 - Enterprise Systems (2.0 cr)
· IDSC 6471 - Knowledge Management (2.0 cr)
· MBA 6120 - Data Analysis and Statistics for Managers (3.0 cr)
· MBT 5200 - Tax Accounting Methods and Periods (4.0 cr)
· MBT 5220 - Tax Research, Communication, and Practice (4.0 cr)
· MBT 5230 - Corporate Taxation I (2.0 cr)
· MBT 5346 - ASC 740 Computations and Analysis (2.0 cr)
· MBT 5370 - Taxation of Property Transactions (2.0 cr)
· MBT 5382 - Transfer Pricing (2.0 cr)
· SCO 6041 - Project Management (2.0 cr)
· SCO 6056 - Managing Supply Chain Operations (4.0 cr)
 
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ACCT 6601 - Internal Control
Credits: 4.0 [max 4.0]
Course Equivalencies: 02471
Grading Basis: A-F only
Typically offered: Every Fall
Internal control from management's perspective. Application of COSO Internal Control—Integrated Framework and Enterprise Risk Management—Integrated Framework. prereq: MAcc grad major
ACCT 6602 - Securities and Exchange Commission (SEC) and Standard Setting
Credits: 4.0 [max 4.0]
Course Equivalencies: 02472
Grading Basis: A-F only
Typically offered: Every Fall
Role/organization of Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB). Compliance with Securities Act of 1933, Securities and Exchange Act of 1934, and Sarbanes-Oxley Act of 2002. Setting/convergence of international/U.S. accounting/auditing standards.
IDSC 6003 - Accounting and Information Systems
Credits: 4.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Spring
IS/IT infrastructure assessment methods, technology solutions, management issues. Digital data sources. Systems design in accounting and financial reporting information systems. Internal control requirements of Sarbanes-Oxley Act of 2002. Experiential learning, hands-on use of accounting enterprise software other packages. prereq: IDSC 3001 or equivalent
ACCT 5102 - Intermediate Accounting II
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Basic valuation problems encountered in financial reporting. Focuses on valuation of liabilities. Accounting for leases, pensions, and deferred taxes. Introduces consolidated financial statements. prereq: 5101[ mgmt or grad mgmt student]
ACCT 5125W - Auditing Principles and Procedures (WI)
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Concepts of auditing internal control/financial statements in accordance with generally accepted auditing/professional standards established by Public Company Oversight Board (PCAOB) and American Institute of Certified Public Accountants (AICPA). Writing Intensive course. prereq: [3101 or 5101 or 5100 or 6100], [acct major or grad mgmt student]
ACCT 5135 - Fundamentals of Federal Income Tax
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
U.S. federal system of taxation. Concepts of gross income, deductions, credits. Analysis of structure of Internal Revenue Code, its provisions with respect to specific areas of law. Interrelationships between legislative, judicial, and administrative authority. Methods, tools, and techniques to conduct tax research. prereq: [2050 or MBA 6030], [mgmt or grad mgmt student]
ACCT 5201 - Intermediate Management Accounting
Credits: 2.0 [max 2.0]
Prerequisites: 3001, acct or finance major
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Activity-based costing techniques in specific industries including service firms. Other topics could include costing for Just-in-Time manufacturing, tracking customer profitability, and costing quality. prereq: 3001, acct or finance major
BLAW 6158 - The Law of Contracts and Agency
Credits: 4.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Spring
Origin of law, its place in and effect upon society. History/development of law. System of courts, legal procedure. Extensive study of law of contracts as the basic law affecting business transactions. Law affecting sales of goods contracts. prereq: MBA student
ACCT 6601 - Internal Control
Credits: 4.0 [max 4.0]
Course Equivalencies: 02471
Grading Basis: A-F only
Typically offered: Every Fall
Internal control from management's perspective. Application of COSO Internal Control—Integrated Framework and Enterprise Risk Management—Integrated Framework. prereq: MAcc grad major
ACCT 6602 - Securities and Exchange Commission (SEC) and Standard Setting
Credits: 4.0 [max 4.0]
Course Equivalencies: 02472
Grading Basis: A-F only
Typically offered: Every Fall
Role/organization of Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB). Compliance with Securities Act of 1933, Securities and Exchange Act of 1934, and Sarbanes-Oxley Act of 2002. Setting/convergence of international/U.S. accounting/auditing standards.
IDSC 6003 - Accounting and Information Systems
Credits: 4.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Spring
IS/IT infrastructure assessment methods, technology solutions, management issues. Digital data sources. Systems design in accounting and financial reporting information systems. Internal control requirements of Sarbanes-Oxley Act of 2002. Experiential learning, hands-on use of accounting enterprise software other packages. prereq: IDSC 3001 or equivalent
ACCT 5126 - Internal Auditing
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Financial/operational auditing. Standards. Managing the function. prereq: 2050
ACCT 5180 - Consolidations and Advanced Reporting
Credits: 2.0 [max 2.0]
Course Equivalencies: 02432 - Acct 5180/Acct 6160
Grading Basis: A-F or Aud
Typically offered: Every Spring & Summer
Theory underlying preparation of consolidated financial statements, as well as mechanical computations needed to prepare statements. prereq: 5101, 5102 recommended, or MBA 6030. MBA students must register A/F grade base.
ACCT 5201 - Intermediate Management Accounting
Credits: 2.0 [max 2.0]
Prerequisites: 3001, acct or finance major
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Activity-based costing techniques in specific industries including service firms. Other topics could include costing for Just-in-Time manufacturing, tracking customer profitability, and costing quality. prereq: 3001, acct or finance major
ACCT 5236 - Introduction to Taxation of Business
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Introduction to the income tax laws governing the taxation of corporations, partnerships, limited liability companies, limited liability partnerships, and S corporations. Students will also increase their knowledge and skills related to tax research by writing research memorandums. prereq: 5135, acct major
ACCT 5310 - International Accounting
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Causes/history of international differences in design of financial accounting/reporting systems, efforts to harmonize them into worldwide system. Role/impact of currency translation on financial statements. International Accounting Standards, conceptual framework. prereq: 5101; [5102 or concurrent registration is required (or allowed) in 5102] recommended
ACCT 5420 - MAcc directed study
Credits: 1.0 -4.0 [max 4.0]
Typically offered: Every Fall, Spring & Summer
Internship or directed study in Master of Accountancy degree program. prereq: MAcc student
ACCT 6603 - Advanced Auditing
Credits: 4.0 [max 4.0]
Course Equivalencies: 02473
Grading Basis: A-F only
Typically offered: Every Fall
Auditing of derivatives, business combinations, fair value instruments, and other accounting topics. Evaluating the discipline of forensic accounting.
ACCT 6604 - Advanced Management Accounting
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
Advanced Management Accounting will expose students to the application of management accounting from a strategic perspective. Students will deepen their knowledge and understanding of management accounting’s role in areas such as sustainability, environmental accounting, time-based accounting, including time-based activity-based costing, activity-based management, value chain analysis, business process re-engineering, benchmarking, target costing, product life cycle management, quantifying qualitative improvements and “big data”. Via cases and discussion of current articles, students will explore the most current and challenging issues facing management accountants.
ACCT 6605 - Negotiations for Financial Executives
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
In Negotiations for Financial Executives, students will develop an individual negotiating style and learn to adapt their negotiating style to various situations. Students will learn the methods and frameworks for negotiating effectiveness: preparation, setting high expectations, listening, and a commitment to ethics. During the class, students will have opportunities to apply the preparation model to plan a negotiation and actually apply their knowledge in a live case situation.
FINA 6121 - Debt Markets, Interest Rates, and Hedging
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Bond valuation: yield conventions, spot/forward rates, term structure, binomial pricing, static/option-adjusted spread. Duration: PVBP, Macauley/modified/effective duration, convexity. Portfolio management, hedging: dedicated, immunization, horizon matching, contingent, indexing, portfolio insurance, hedging. Treasury market: role of Fed, auctions, primary dealers, market conventions, bills, notes, bonds, strips, repos. Fixed income markets: agency, corporate, private placement, securitization, municipal. prereq: MBA 6230, MBA student
FINA 6241 - Corporate Finance Analysis and Decisions
Credits: 4.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Theoretical/applied understanding of corporate financial decisions. Adjusted present value, economic value added options. Impact of financing decisions on real asset valuation, managerial incentives, corporate strategy. prereq: MBA 6230, MBA student
FINA 6242 - Advanced Corporate Finance Analysis and Decisions
Credits: 4.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Fall
Theory/practice of efficiently managing working capital, fixed assets. Emphasizes mergers/acquisitions, corporate restructuring, real options. Use of derivatives as financing tools, in deal structure. prereq: 6241, MBA student
FINA 6322 - Financial Modeling
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring & Summer
Financial modeling tools to build, maintain, and interpret comprehensive financial models that provide the framework for understanding businesses and their historical performance, plans/strategies, and market values. Financial analytics/modeling skills. prereq: MBA 6230, MBA student
FINA 6341 - World Economy
Credits: 4.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Tools to predict/understand ramifications of major economic events. Financial crises. Changes in monetary, fiscal, financial policies. Strategies for promoting long-run economic growth. Examples from U.S., Europe, Japan, developing countries. prereq: MBA 6230, MBA student
FINA 6522 - Introduction to Derivatives and Financial Risk Management
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Periodic Fall & Spring
Tools, tactics, strategies of risk management. Treasury risk measurement, interest rate risk management, currency risk management, credit risk management. Value-at-risk approach to integrated risk management. Risk management/corporate financing decisions. Internal control systems. Accounting/disclosure issues. prereq: 6121, MBA student
FINA 6621 - International Financial Management
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Spring
Applying finance theory to multinational corporations' investment, financing, risk management, decisions. International financial system. Spot, forward, swaps, option markets for foreign exchange. Interest rate arbitrage, parity. Exchange rate risk analysis/forecast. Measuring/managing currency exposure. Long term financing with swaps. Multinational capital budgeting. Cost of capital for international projects. prereq: MBA 6230, MBA student
IDSC 6423 - Enterprise Systems
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Requirements of architectures of information systems that help integrate business processes and optimize performance across diverse organizations/divisions. Capabilities of information systems in enterprise integration and supply chain management. Linkages necessary between information systems and business processes.
IDSC 6471 - Knowledge Management
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
Design, evaluation, use of knowledge in organizations. Leveraging knowledge in workers, structures, processes. Assessment of knowledge needs. Evaluation of key decision processes, information demands, usage patterns, content requirements. Behavioral/cultural barriers. Use of technology for knowledge management. prereq: MBA student
MBA 6120 - Data Analysis and Statistics for Managers
Credits: 3.0 [max 3.0]
Grading Basis: A-F only
Typically offered: Every Fall, Spring & Summer
Concepts/ principles of business statistics, data analysis and presentation of results. Topics: exploratory data analysis, basic inferential procedures, statistical process control, time series/regression analysis, and analysis of variance. These methods are selected for their relevance to managerial decision making and problem solving. prereq: MBA student
MBT 5200 - Tax Accounting Methods and Periods
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Rules affecting timing of income and deductions for tax purposes. Examination of cash and accrual accounting methods on an overall basis and with respect to individual items of income and deductions; rules for changing accounting methods and periods; annual accounting and transactional concepts, including the claim of right doctrine, the Arrowsmith doctrine, and the tax benefit rule. prereq: ACCT 5135, MBT student
MBT 5220 - Tax Research, Communication, and Practice
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Tax questions. Locating/assessing potential authority. Communicating research results. Sources of IRS policy. Processing/auditing returns. Rulings, determination letters. Closing agreements. Assessments, collections. prereq: ACCT 5135
MBT 5230 - Corporate Taxation I
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Federal income taxation of corporations/shareholders. Organization of a corporation. Establishment of capital structure. Determination of tax liability. Dividends, non-liquidating distributions. Stock redemptions, liquidations. prereq: ACCT 5135
MBT 5346 - ASC 740 Computations and Analysis
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Financial accounting/reporting standards for effects of income taxes from corporate activities. Computation of current/deferred tax expense/benefit. Temporary differences, carryforwards. Computation of deferred tax assets/liabilities, valuation allowances, business combinations. Investments in subsidiaries, equity method investments. Foreign operations, tax allocations, interim period tax calculations.
MBT 5370 - Taxation of Property Transactions
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Determining realized gain or loss and recognized gain or loss, and tax treatment of that gain or loss on property dispositions. Consequences of property transactions including depreciation, depletion, basis, and capital gains problems. prereq: Acct 5135
MBT 5382 - Transfer Pricing
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Spring Odd Year
Transfer pricing requirements facing multinational companies. Tax requirements of the United States and other countries that have adopted the "arm's-length standard" or the transfer pricing guidelines adopted by the Organization for Economic Cooperation and Development. Regulations, methods, economic models, pricing policies, transaction accounting, and management of audits of managing transfer prices within a multinational company. prereq: ACCT 5135
SCO 6041 - Project Management
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
In the course of their careers, contemporary managers spend a significant amount of time either participating in or leading projects. Projects are frequently used as proving-grounds for high-potentials. The skills that are required in project management are often the very same attributes that are required for successfully managing a business. While every project is by definition unique, some concepts and tools (e.g., critical path method, time and cost tradeoffs, resource utilization, methods to deal with uncertainties) in project management apply to a wide range of different types of projects. The aim of this course is to equip students with these concepts and tools (e.g., Monte Carlo simulation, risk analysis) and to develop them into successful project managers, as well as team members.
SCO 6056 - Managing Supply Chain Operations
Credits: 4.0 [max 4.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Decisions/trade-offs managers face when directing operations of supply chain. How supply chain operations are coordinated within manufacturing, distribution, and retail organizations. prereq: [MBA 6220 or equiv], MBA student