Accounting

 Prospective students should use this checklist to obtain specific admissions requirements on how to apply to Graduate School.

Degree Offered:M.Ac.
Interim Director:Dr. Lary Cowart
Phone:(205) 934-8501
E-mail:lcowart@uab.edu
Web site:www.uab.edu/business

Mission and Objective

The mission statement of the Department of Accounting and Finance is as follows: "The Department of Accounting and Finance is committed to providing a high-quality, practice-oriented educational experience to a largely urban population. The Department will offer, through its accounting programs, an educational foundation that will prepare students for professional careers in business and accounting or enable them to pursue graduate studies. The Department will contribute to the understanding and application of accounting and business knowledge through the scholarship activities of the faculty. The Department will maintain a continuing relationship with the professional community while supporting the internal activities of the University."

The objective of the Master of Accounting Program is to further develop in students the skills required for success in the accounting profession. Offered primarily in an evening format, it is designed for those individuals with a knowledge base in accounting and business who desire to broaden their communication, interpersonal, technological, and applied research skills. The Master of Accounting Program is accredited by the AACSB International-The Association to Advance Collegiate Schools of Business (AACSB International, www.aacsb.edu).

Admission Requirements

Requirements for admission to the program include the following:

  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: 
  2. RequirementsHours
    AC 200Principles of Accounting I3
    AC 201Principles of Accounting II3
    AC 300Financial Accounting I3
    AC 310Financial Accounting II3
    AC 304Accounting Information Systems3
    AC 401Cost Accounting3
    AC 402Income Taxation I3
    AC 423External Auditing3
    AC 430Financial Accounting III3
  3. 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.
  4. 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.]

The following additional admission requirements may apply to 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 to the program is competitive. The number of qualified applicants admitted may be limited as deemed appropriate by the Master of Accounting Program Committee.

Program Description—Master of Accounting

The Master of Accounting Program consists of 30 semester hours of graduate credit—21 hours of required courses and 9 hours of electives:

RequirementsHours
Required courses (7)
LS 557Business Law for Accountants (Offered in Fall only)3
AC 514Governmental and Not-for-Profit Accounting (Offered Fall, Spring, Summer)3
AC 580Advanced Financial Accounting (Offered in Fall only)3
AC 600Current Topics Fin. Acct. (Offered in Spring only)3
AC 606Advanced Auditing and Attestation (Offered in Spring only)3
AC 620Tax Entities (Offered in Fall only)3
AC 672Advanced Information Technology Auditing (Offered in Spring only)3
Elective courses (3) *9
Total Hours30

Elective courses*Course List

Requirements Hours
LS 571 Legal Elements of Fraud Investigation 3
AC 513 Internal Auditing 3
AC 523 External Auditing 3
AC 564 Accounting Internship 3
AC 572 Forensic Accounting and Information Technology Auditing 3
AC 573 Fraud Examination 3
AC 574 Forensic Accounting Practicum 1-3
AC 590 Advanced Topics in Accounting 3
AC 612 Corporate Governance 3
AC 617 Technology Based Business Process Reegineering 3
Or MBA courses numbered 600 or above approved by the M.Ac. Program Director. Students may not take any of the following MBA courses as electives to be used towards their MAc degree including:  
   
MBA 601             Accounting and Finance for Managers                                  3
MBA 608           Strategic Cost Analysis and Decision Making 3
MBA 637 Operations and Supply Chain Management 3
     


Program Description—Master of Accounting with an Internal Auditing Concentration

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

Required courses for Internal Auditing Concentration (8):

RequirementsHours
LS 557Business Law for Accountants3
AC 513Internal Auditing3
AC 514Governmental and Not-for-Profit Accounting3
AC 580Advanced Financial Accounting3
AC 600Current Topics Fin. Acct.3
AC 606Advanced Auditing and Attestation3
AC 620Tax Entities3
AC 672Advanced Information Technology Auditing3

Elective courses for internal auditing concentration (2):

RequirementsHours
AC 564Accounting Internship3
AC 572Forensic Accounting and Information Technology Auditing3
AC 573Fraud Examination3
AC 612Corporate Governance3

Other internal audit related courses approved by the M.Ac. Program Committee.

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 lcowart@uab.edu.  

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 should contact Jessica Smith, the undergraduate accounting advisor in the School of Business, for specific guidance. Those interested in this option who already hold degrees from other institutions should also contact Jessica at jessmith@uab.edu .
  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 Christy Manning, the Program Coordinator in the Graduate School of Management, at cmanning@uab.edu .

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.

Additional Information

Deadline for Entry Term(s):The program admits every semester
Deadline for All Application Materials to be in the Graduate School Office:Two months before term begins Summer: April 1, Fall: July 1, Spring: November 1
Number of Evaluation Forms Required:None, unless required by Program Committee
Entrance Tests:GMAT score of 500 or higher. TOEFL (minimum composite score of 80 and a minimum score of 20 for each section) and TWE for international applicants whose native language is not English.
Comments:An ECE "catalog match" is required of applicants whose degrees are from foreign institutions. Inquiries regarding financial assistance should be directed to the University's Office of Financial Aid.

 

Contact Information

For detailed information contact the Department of Accounting and Finance:
School of Business, BEC 305
1150 Tenth Avenue South
Birmingham, AL 35294-4460

Telephone 205-934-8817
FAX 205-934-9200
E-mail, M.Ac. lcowart@uab.edu
E-mail, M.B.A. cmanning@uab.edu
Web www.uab.edu/business

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.

A course examining the governance by boards of directors, shareholders, management and others of publicly-owned corporations, larger privately-held corporations, and other complex organizations. Preq: Graduate standing.

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, Visiting Instructor (Accounting and Finance)
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)
Edmonds, Thomas P., Alumni and Friends Professor of Accounting, 1986, B.B.A. (Georgia State), M.B.A. (St. Mary’s), Ph.D. (Georgia State)
Grant, Gerry, Visiting Associate Professor (Accounting and Finance), Accounting Information Systems
Grant, Terry, Professor (Accounting and Finance), Financial Accounting
Im, Mary, Assistant Professor, Governmental and Non-profit, Financial Accounting
Messina, Frank M., Professor of Accounting, 1993, B.S. (Livingston), M.Acc., Ph.D. (Mississippi State), C.P.A.
Nabors, Eddie, Instructor (Accounting and Finance), Financial Accounting
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, Assistant Professor of Finance, 2007, Diploma (J. W. Goethe University, Germany), M.B.A. (East Carolina), Ph.D. (Cincinnati)
Rauterkus, Stephanie, Assistant Professor of Finance, 2007, B.S., M.A., M.B.A. (Cincinnati), Ph.D. (LSU)
Savage, Arline, Professor (Accounting and Finance), Fraud and Forensic Accounting
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)
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)