Accounting and Finance

Degree Offered: Master of Accounting

Director: Dr. Arline Savage

Phone: (205) 934-8820

E-mail: arlsav@uab.edu

Web site: https://www.uab.edu/business/degrees-certificates/master-of-accounting

Admission

Prospective students should use this checklist to obtain specific requirements for applying to Graduate School.

Application Deadlines*

*Deadlines for On-campus Master of Accounting Program:

Fall semester: July 1st
Spring semester: November 1st
Summer semester:April 1st

*Deadlines for the Online Master of Accounting Program:

Fall semester: July 15th
Spring semester: November 20th
Summer semester: March 20th

Required Documents

  • Application form including 2 evaluation forms/letters of reference
  • Current resume detailing work experience
  • Official transcripts from all colleges and universities attended sent directly by the Registrar or responsible head of the institution to the UAB Graduate School, 1720 2nd Ave. S., LHL 103, Birmingham, AL 35294-0013.
  • GMAT score* sent directly from the testing agency.

International Applicants
The following additional documents are required of international applicants:

A minimum composite score of 80 with a minimum score of 20 in each section of  the Test of English as a Foreign Language (TOEFL) administered by the Educational Testing Service (ETS, www.toefl.org) within the five-year period immediately preceding the desired term of enrollment. An ILETS score 

A "catalog match" transcript evaluation report prepared by Educational Credential Evaluators, Inc. (ECE,www.ece.org).

Admission Requirements

1. A bachelor's degree in accounting from an institution accredited by AACSB  International received within the five-year period immediately preceding the desired term of enrollment (or a bachelor's degree in any discipline from a regionally accredited institution). Applicants who do not have an undergraduate accounting degree will be required to complete up to nine foundation courses in addition to the classes listed in the Program Description section and will be required to maintain at least a B average in the foundation courses numbered 300 and above. The foundation courses that must be completed are as follows: 

  • AC 200     Principles of Accounting I
  • AC 201      Principles of Accounting II
  • AC 300     Financial Accounting I
  • AC 310      Financial Accounting II
  • AC 304     Accounting Information Systems
  • AC 401      Cost Accounting
  • AC 402     Income Taxation I
  • AC 423     External Auditing
  • AC 430     Financial Accounting III

2.  A minimum score of 500 on the Graduate Management Admission Test (GMAT)   administered by the Graduate Management Admission Council (GMAC, www.gmac.com) within the five-year period immediately preceding the desired term of enrollment. The GMAT is waived for UAB accounting graduates and other students who take all of the foundation accounting courses at the undergraduate level at UAB.

3.  Satisfactory academic performance as measured by the undergraduate accounting grade point average. [Note: UAB undergraduates planning to pursue the M.Ac. degree should take and  AC 423  as their two accounting electives. If they do not take AC 423 , they should plan to take AC 523  as an elective in the M.Ac. program before taking AC 606 .]

Admission to the program is competitive. The number of qualified applicants admitted may be limited as deemed appropriate by the Master of Accounting Program Committee.

 

The Department of Accounting and Finance (ACFN) in the Collat School of Business is proud to offer a Master of Accounting (M.Ac.) program that holds a separate accreditation by the Association of Advance Collegiate Schools of Business (AACSB), the highest honor a business school can achieve for its accounting programs.

Courses in the program are offered in the classroom primarily in an evening format, completely online, or a combination of both. Our dedicated and caring ACFN faculty are exceptional teacher scholars and teach all courses in the M.Ac. program; in the classroom and online.

High-achieving UAB accounting undergraduate students interested in pursuing the M.Ac. degree should look into the UAB Fast-Track Master of Accounting Program.

Program Description - Master of Accounting

Students can pursue the general Master of Accounting program or chose a concentration in Internal Auditing. A Fast-track Master of Accounting program is open to high achieving undergraduate students pursuing a BS degree in accounting at UAB. Students can also take courses offered through the Accounting and Finance Department to prepare for the CPA and other certifications.

Master of Accounting Program

The Master of Accounting program consists of 30 semester hours of graduate credit - 21 hours of required courses and 9 hours of approved electives:

Required courses (7):

LS 557     Business Law for Accountants (Offered in Fall only)

AC 514     Governmental and Not-for-Profit Accounting (Offered Fall, Spring, Summer)

AC 580    Advanced Financial Accounting (Offered in Fall only)

AC 600    Current Topics in Financial Accounting (Offered in Spring only)

AC 606     Advanced Auditing and Attestation (Offered in Spring only)

AC 620     Tax Entities (Offered in Fall only)

AC 672     Advanced Information Technology Auditing (Offered in Spring only)

*Elective courses (3):

Courses numbered 500/600 level with AC, LS, or MBA prefix may be chosen with approval of the M.Ac. Program Director.

*MBA 601, MBA 608 and MBA 637 will not apply toward the M.Ac. degree.

Master of Accounting with an Internal Auditing Concentration

Students who have not previously taken an internal auditing course at the undergraduate level can earn a Master of Accounting degree with an Internal Auditing Concentration by completing the following program of study. The Master of Accounting Program with an Internal Auditing Concentration consists of 30 semester hours - 24 hours of required courses and 6 hours of approved electives:

Required courses (8):

LS 557     Business Law for Accountants

AC 513     Internal Auditing

AC 514     Governmental and Not-for-Profit Accounting

AC 580     Advanced Financial Accounting

AC 600     Current Topics in Financial Accounting

AC 606     Advanced Auditing and Attestation

AC 620     Tax Entities

AC 672     Advanced Information Technology Auditing

*Elective courses (2):

Choose from:

AC 564     Accounting Internship

AC 572     Forensic Accounting and Information Technology Auditing

AC 573     Fraud Examination

AC 612     Corporate Governance

*Other courses may be approved by the M.Ac. Program Director.

Fast-Track Master of Accounting Program

The Fast-track Master of Accounting (M.Ac.) Program is open to high-achieving undergraduate students pursuing a BS degree in accounting at UAB. Students admitted to the Fast-Track M.Ac. Program can take up to 12 hours of graduate courses at undergraduate tuition rates while they are completing their Bachelor’s degree in accounting and have these graduate courses count toward the M.Ac. degree as long as A’s or B’s are earned in the courses.  After earning the BS degree, students in the Fast-Track Program continue pursuing the M.Ac. degree as described above.  Students in the Fast-Track M.Ac. program are not required to take the GMAT.

Fast-Track M.Ac. Program Admission Requirements

To be admitted to the Fast-Track Master of Accounting Program, students must:

  • Have completed at least 15 hours of coursework at UAB.
  • Be within 45 hours of graduation. 
  • Have a cumulative GPA of 3.4 or higher.
  • Have completed the following courses with at least a “B” in each course and have at least a 3.3 average in the three courses:

AC 300     Financial Accounting I

AC 304     Accounting Information Systems

AC 310     Financial Accounting II

Students who think they are eligible for the Fast-Track M.Ac. Program should contact the M.Ac. Program Director at the Collat School of Business.

Uniform CPA Examination

Eligibility requirements for sitting for the Uniform CPA examination vary among the states.  The state of Alabama, through its Accountancy Laws and the Alabama State Board of Public Accountancy (ASBPA,www.asbpa.state.al.us), requires that applicants for the Uniform CPA Examination hold a baccalaureate degree from an accredited institution and possess a total of 150 semester hours of postsecondary education, including at least 33 semester hours of accounting in specified areas at the upper-division or graduate level. UAB students can meet these requirements in several ways:

  1. By obtaining an undergraduate accounting degree (or its equivalent) and completing certain additional course work as specified under the Board’s Accountancy Rules. Students interested in this option and those interested in this option who already hold degrees from other institutions should contact the accounting advisor in the Collat School of Business, for specific guidance.
  2. By obtaining a Master of Accounting degree. Those who hold a Master of Accounting degree from an accounting program accredited by AACSB International (as is UAB's) meet the academic requirements for taking the Uniform CPA Examination.
  3. By obtaining a Master of Business Administration degree. Those who already hold an undergraduate accounting degree (or its equivalent) and who desire a graduate degree in business may establish their academic eligibility under the Board's Accountancy Rules by completing as part of their M.B.A. requirements certain graduate accounting course work as determined by the Master of Accounting Program Director. Students interested in this option should first contact  the Program Coordinator in the Graduate School of Management.

Other Professional Accounting Certifications

Other examinations leading to professional certification (CMA, CIA, CFE, CISA, etc.) generally do not require academic course work beyond the baccalaureate degree. Students interested in other accounting certifications should contact any member of the accounting faculty for further information.

Courses

AC 500. Financial Accounting I. 3 Hours.

Accounting cycle, environment of financial accounting, conceptual framework of financial accounting, financial statements, time value of money, cash and receivables. Enrollment requires permission of the M.Ac. Program Director.

AC 501. Cost Accounting. 3 Hours.

Basic Theory and procedures involving cost determination, analysis, and control. Cost allocations, applications of overhead, budgeting, standard costs, job order, process and byproduct costing, spoilage, and quantitative techniques.Enrollment requires permission of M.Ac. Program Director.

AC 502. Income Taxation I. 3 Hours.

Fundamentals and basic concepts of various entities, with emphasis on federal income taxation of individuals. Enrollment requires permission of M.Ac. Program Director.

AC 504. Accounting Information Systems. 3 Hours.

Transaction processing cycles of accounting system; internal control, development, and control of information systems; emerging development of information technology. Enrollment requires permission of the M.Ac. Program Director.

AC 510. Financial Accounting II. 3 Hours.

Continuation of AC 500. Inventories, plant assets, intangible assets, current liabilities, long term debt and stockholders' equity. Enrollment requires permission of M.Ac. Program Director.

AC 513. Internal Auditing. 3 Hours.

Theory and practice of internal auditing and application of internal auditing principles and techniques to selected audit problems. Enrollment requires permission of M.Ac. Program Director.

AC 514. Governmental and Not-for-Profit Accounting. 3 Hours.

Special features of budgetary and fund accounting as applied to municipalities, other government units, and to other non-profit entities. 999999.

AC 523. External Auditing. 3 Hours.

Study of the external audit function and the essential standards that govern audit practice. Enrollment requires permission of M.Ac. Program Director.

AC 530. Financial Accounting III. 3 Hours.

Dilutive securities, earnings per share, investments, accounting for income taxes, accounting changes and error analysis, statement of cash flows, retirement benefits, leases and selected disclosures. Enrollment requires permission of the M.Ac. Program Director.

AC 540. International Accounting: From a User's Perspective. 3 Hours.

Development of international accounting knowledge needed to make informed decisins in global business environment.
Prerequisites: AC 200 [Min Grade: C] and AC 201 [Min Grade: C]

AC 541. International Accounting: Study Abroad. 3 Hours.

Development of intrnational accounting knowledge needed to make informed decisions in global business environment through study abroad.
Prerequisites: AC 540 [Min Grade: C]

AC 564. Accounting Internship. 3 Hours.

Work experience enabling students to better integrate academic knowledge with practical applications by exposure to accounting practice and business environment.

AC 572. Forensic Accounting and Information Technology Auditing. 3 Hours.

Introduction to the practice of forensic accounting and its relationship to auditing in settings characterized by extensive reliance on information technology. An emphasis on audit methodology as applied to accounting information systems.

AC 573. Fraud Examination. 3 Hours.

Advanced forensic accounting concepts with a primary focus on occupational fraud and abuse--its origins, perpetration, prevention, and detection.

AC 574. Forensic Accounting Practicum. 1-3 Hour.

Work experience requiring the application of forensic accounting concepts and methods. Preq: C or better in AC 572, AC 573 and LS 571.
Prerequisites: AC 573 [Min Grade: C] and LS 571 [Min Grade: C] and AC 572 [Min Grade: C]

AC 580. Advanced Financial Accounting. 3 Hours.

Business combinations, consolidated financial statements, multinational accounting and partherships. Preq: AC430 and graduate standing, and aproval of M.Ac. program director.

AC 590. Advanced Topics in Accounting. 3 Hours.

Contemporary professional accounting issues.

AC 600. Current Topics Fin. Acct.. 3 Hours.

Consideration of recent pronouncements from various authoritative bodies such as the FASB and SEC through research projects and case discussions.

AC 606. Advanced Auditing and Attestation. 3 Hours.

Development of auditing to its present statue; authoritative bodies influencing auditing; new developments. Preq: Admission to M.Ac. program or graduate standing and approval of the M.Ac. program director.

AC 612. Corporate Governance. 3 Hours.

This course examines the process by which individuals inside and outside a publicly-traded or other complex organization seek to govern the organization’s activities, including boards of directors, shareholders, management, independent auditors, internal risk managers, and the Securities and Exchange Commission.

AC 617. Technology Based Business Process Reegineering. 3 Hours.

This course addresses concepts and applications of business process management in conjunction with project management and systems development techniques and tools. Emphasis is placed on the Association of Business Process Management Professionals' body of knowledge. Enrollment requires permission of M.Ac. Program Director.

AC 620. Tax Entities. 3 Hours.

Basic research tools in taxation; selected parts of Internal Revenue Code and Regulations; tax planning techniques.

AC 649. Directed Research. 3 Hours.

Supervised study of topics not covered in regular courses.

AC 672. Advanced Information Technology Auditing. 3 Hours.

IT auditing with a focus on the role of IT audit in the financial audit profession, professional standards, and professional organizations. An emphasis on IT audit methodology as applied to financial audits and other public accounting audit services. Preq: Graduate standing, or permission of the instructor.

Faculty

Burns, Richard M., Professor of Finance, 1987, B.S. (Alabama), M.B.A. (UAB), Ph.D. (Georgia)
Byrd, Jim, Instructor of Accounting, 2013, B.S. (Auburn), M.B.A. (Georgia State), M.A., Ph.D. (UAB), CPA, CHFP
Cowart, Larry, Assistant Professor of Finance, 2007, B.S. (Athens), M.B.A. (Samford), Ph.D. (Georgia)
Drnevich, Dawn, Assistant Professor of Accounting, 2010, Ph.D. (Texas Tech)
Grant, Gerry, Visiting Associate Professor (Accounting and Finance), Accounting Information Systems
Grant, Terry, Professor of Accounting, 2012, B.S. (Alabama), M.P.A. (Texas), Ph.D, (Florida)
Messina, Frank M., Professor of Accounting, 1993, B.S. (Livingston), M.Acc., Ph.D. (Mississippi State), C.P.A.
Nabors, Eddie, Instructor of Accounting, 2011, B.S. (Alabama), M.Acc. (University of West Florida)
Prather-Kinsey, Jenice, Professor of Accounting; Chair, Department of Accounting and Finance, 2001, B.S. (Lindenwood), M.S. (Illinois), PhD. (Alabama), C.P.A.
Racca, Joshua, Assistant Professor of Accounting, 2011, Ph.D. pending University of North Texas (Denton, Texas)
Rauterkus, Andreas, Associate Professor of Finance, 2007, Diploma (J. W. Goethe University, Germany), M.B.A. (East Carolina), Ph.D. (Cincinnati)
Savage, Arline, Professor of Accounting, 2012, Ph.D. (University of Port Elizabeth-South Africa), CA (SA)
Walker, Joe, Associate Professor of Finance, 1987, B.A., B.S. (Baylor), Ph.D. (Texas A&M)
Worrell, James L., Assistant Professor of Accounting, 2008, B.S., M.Ac., Ph.D. (Florida State)
Yates, Stephanie, Associate Professor of Finance, 2007, B.S., M.A., M.B.A. (Cincinnati), Ph.D. (LSU)
Yoder, Stephen A., Assistant Professor of Legal Studies; Director, School of Business Honors Program, 2008, A.B. (Duke), J.D. (Northwestern University School of Law)