Department of Accounting
2157 Constant Hall
Douglas Ziegenfuss, Chair
Master of Science-Accounting
Yin Xu, Graduate Program Director
Accounting services are becoming both broader and more specialized. The major changes that have occurred in the accounting profession dictate expanded and updated educational programs. The minimum education necessary for the professional accountant cannot be achieved in four years of undergraduate study. For instance, the Virginia Board of Accountancy requires Certified Public Accountant (CPA) exam candidates to have 150 semester hours of education for licensure. Therefore, the ideal model for a professional accounting education embodies a Master of Science in Accounting program that augments a broad undergraduate education. The program is designed to accommodate both full-time and part-time students with courses offered in the evenings.
Prospective students may apply for admission to the program for the fall, spring, and summer semesters. The Department of Accounting welcomes applicants who have earned bachelor’s degrees from accredited institutions. Admission to the program is competitive and is granted only to those who show high ability and likely success in graduate business study. Successful applicants will stand well above the average in most of the criteria used to measure graduate student promise.
Criteria used for admission include the candidate’s score on the Graduate Management Admission Test (GMAT), undergraduate grade point averages and the trend in grades during undergraduate work, one letter of reference, a goals statement, and previous work experience. Students must earn a grade of B- or better in each undergraduate business course used to satisfy the program’s prerequisite courses.
The application process is as follows: submit to the Graduate Admissions Office
- application forms (may be done on-line) for graduate study in business,
- official transcripts of all previous college work,
- one letter of recommendation,
- an one-page essay setting forth the applicant’s work experience, and goals and objectives for the program, and
- scores on the Graduate Management Admission Test (GMAT).
Applicants whose native language is not English are also required to submit an acceptable score on the Test of English as a Foreign Language (TOEFL) Exam.
Prior to admission, each candidate must have completed:
|Six Hours of Financial Accounting|
& ACCT 301
|Principles of Financial Accounting|
and Intermediate Accounting I *
|Six hours of Management Accounting|
& ACCT 311
|Principles of Managerial Accounting|
and Managerial Accounting *
|Three hours of Taxation Courses|
|ACCT 421||Taxation *||3|
|And eighteen hours in economics, statistics/decision sciences, marketing, management, finance, and commercial law.||18|
Application deadlines are July 1 for fall admission, November 1 for spring admission, and April 1 for summer admission. International student deadlines are April 15 (fall semester), October 1 (spring semester), and February 15 (summer semester).
Applicants who have not obtained an acceptable GMAT score, or an acceptable TOEFL score for those applicants whose native language is not English, will not be permitted to enroll in graduate accounting courses.
Fast-Track Undergraduate Admission
Undergraduate students majoring in Accounting at Old Dominion University may apply for conditional status in the Master of Science in Accounting program after completing ACCT 301, Intermediate Accounting I, with a minimum Overall and Accounting Grade Point Average of 3.00. These students can then achieve regular admission status by completing their undergraduate degree with a minimum Overall and Accounting Grade Point Average of 3.00, and obtaining an acceptable GMAT score.
A minimum of 30 semester hours of graduate courses are required to complete the Master of Science in Accounting. Students must maintain a cumulative grade point average of a least 3.00 in all graduate work taken. Additionally, students must successfully complete at least one part of one of the following professional exams during the final two semesters of their graduate course work:
- Certified Public Accountant (CPA) exam,
- Certified Management Accountant (CMA) exam, or
- Certified Internal Auditor (CIA) exam.
Students who already hold one or more of these professional designations must successfully complete at least one part of one of the other professional exams during the final two semesters of the graduate work.
The Program of Study
The program of study is designed for the student interested in a professional career in accounting either as an assurance services provider (auditor) or management accountant in public accounting or in industry and government. The curriculum, especially the required courses, are designed to improve the student’s chances of passing the Certified Public Accountant (CPA) exam. However, there is enough flexibility in the choice of electives to tailor programs of study to successfully complete other certification exams such as:
- Certified Internal Auditor (CIA),
- Certified Management Accounting (CMA),
- Certified Information Systems Auditor (CISA),
- and the Certified Fraud Examiner (CFE) exams.
Additionally, a student completing the four auditing courses meets the requirements of the Institute of Internal Auditors Endorsed Internal Auditing Program.
Required Courses—Accounting Credits
|ACCT 626||Financial and Global Accounting||3|
|ACCT 630||Financial Statement Analysis||3|
|ACCT 631||Advanced Financial Auditing||3|
|ACCT 640||Professional Ethics and Legal Issues In Accounting||3|
|TAX 650||Tax Strategies for Business Decisions||3|
|ACCT 727||Strategic Cost Management||3|
|Graduate accounting courses *||6|
|Graduate business or public administration elective courses at the 600 level||6|
Excluding ACCT 601.
ACCT 505. Accounting and Auditing in the Public/Nonprofit Sector. 3 Credits.
The application of accounting principles to governmental funds and not-for-profit organizations. Emphasis is placed on budgeting and control as well as auditing concerns for such entities. Prerequisites: Graduate standing and a level of competency in accounting at the intermediate level or higher.
ACCT 511. Financial Auditing. 3 Credits.
Standards and ethics of the public accounting profession, generally accepted auditing standards, and public reporting are covered, as well as exposure to other types of auditing such as operational and compliance auditing. Prerequisites: Graduate standing and a level of competency at the intermediate accounting level or higher.
ACCT 521. Taxation. 3 Credits.
An analysis of federal income tax law and its application to personal and business tax situations. Reconciliation of tax and accounting concepts. Prerequisites: Graduate standing and a level of competency in accounting at the intermediate level or higher.
ACCT 522. Federal Income Taxation of Individuals and Business Entities. 3 Credits.
An analysis of federal income tax laws and its application to individuals and business entities. Prerequisites: Graduate standing an a level of competency in tax accounting.
ACCT 550. International and Advanced Accounting. 3 Credits.
The study of accounting for international operations and business combinations.
ACCT 601. Accounting for Managers. 3 Credits.
A study of the concepts of financial and managerial accounting. Covers the financial reporting process and the development of financial statements for external users while exposing students to internally generated accounting information. The overall objective of the course is to provide students with sufficient knowledge and competency to be intelligent users of accounting information.
ACCT 623. Operational Assurance Services. 3 Credits.
Standards, ethics, and practice of operational auditing particularly as it concerns the internal auditing profession, as well as exposure to financial auditing. Prerequisites: ACCT 601 or equivalent.
ACCT 624. Information Technologly Assurance Services. 3 Credits.
Standards, ethics, and practice of information technology assurance services particularly as it concerns the governance and control of information systems. Prerequisites: ACCT 601 or equivalent.
ACCT 625. Fraud Examination and Forensic Accounting. 3 Credits.
Standards, ethics, and practice of fraud examination and forensic accounting particularly as it concerns the accounting profession. Prerequisites: ACCT 601 or equivalent.
ACCT 626. Financial and Global Accounting. 3 Credits.
Course covers current financial accounting standards and the reporting problems faced by national and multinational corporations in reporting financial information to external users in a global economy. Discussion of the various techniques for presenting and analyzing financial statements and the ethical issues related to those presentations.
ACCT 627. Operational Cost Control. 3 Credits.
Covers cost concepts and analysis in both a manufacturing and service operational environment. Provides an introduction to activity based costing and standard cost systems, methodology for measuring productivity changes and cost of quality and measurement and control of operating performance. Prerequisites: ACCT 601 or equivalent.
ACCT 630. Financial Statement Analysis. 3 Credits.
This course covers the analysis and interpretation of financial statements, including the significant accounting issues involved in performing an effective evaluation of a company. Accounting and financial analysis are used to provide a framework for applying the various techniques for analyzing and interpreting financial statements.
ACCT 631. Advanced Financial Auditing. 3 Credits.
Advanced concepts associated with the public accounting profession, generally accepted auditing standards, public accounting reporting, and recent developments, such as Sarbanes-Oxley/Public Company Accounting Oversight Board, are emphasized.
ACCT 640. Professional Ethics and Legal Issues In Accounting. 3 Credits.
An intensive course covering ethical and legal issues confronted by practicing accountants. The course emphasizes rigorous analysis of complex situations leading to appropriate ethical and legal solutions.
ACCT 667. Cooperative Education. 1-3 Credits.
Student participation in a full-time professional work experience. Prerequisites: Permission of the departmental chair in accordance with departmental Cooperative Education policies and approval of Career Management.
ACCT 668. Accounting Internship. 1-3 Credits.
The course is a practicum in the profession of accounting where theories, concepts, and financial management techniques are applied in a business environment. Prerequisites: Permission of the departmental chair.
ACCT 693. Selected Topics in Accounting. 3 Credits.
Study designed for students who have had one of the required courses waived or for students desiring additional work in an area of particular interest in accounting. Prerequisites: Permission of the chair of the Department of Accounting and the graduate program director, and a minimum B average in graduate work.
ACCT 727. Strategic Cost Management. 3 Credits.
Focuses on advanced costing concepts, current management accounting practices, and analytical techniques employed by controllers in supporting their organization’s strategic planning process.
ACCT 747. Seminar in Controllership. 3 Credits.
Prerequisites: ACCT 627 or equivalent. This course is the capstone course for the study of management accounting. It includes a review of management accounting practices and analytical techniques employed by controllers in supporting their organization’s strategic decision-making process.
ACCT 999. ACCT 999. 1 Credit.