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Master of Science in Accountancy

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Frequently Asked Questions about the Master of Science in Accountancy (MS ACCY) have been segregated into 4 groups:

ABOUT THE PROGRAM

Does the MS ACCY Program have a work experience requirement?

Some of our students have work experience, but most apply to the program immediately after completing their undergraduate degrees in order to earn the additional credits they need to be licensed as a CPA. Most students with undergraduate accounting degrees fall about 30 credits short of the 150 credit hours (at least 36 in ACCT) required to be a CPA in South Carolina (and most other states). The MS ACCY program gives students an opportunity to earn these credits and improve their marketability BEFORE entering the full-time work force.

Can I work off-campus while pursuing a MS ACCY degree?

Full-time students will take most of their classes in the day time and will be encouraged to graduate within 1 calendar year. Most of our full-time students find that working more than 10-20 hours a week in an off-campus job impairs their academic performance in the MS ACCY program. Also, some of our students work full-time and finish the degree at a slower pace than full-time students.

Are courses offered during the day or night?

Both. During the Fall and Spring semesters, most courses will be offered during the day-time. Each Fall and Spring, we will typically offer at least 1 graduate level course at or after 5:30pm. During the May and Summer sessions, courses are offered during both day and night sessions at the discretion of instructors.

Is the MS ACCY program accredited?

Yes. The College of Charleston School of Business and Economics and the Department of Accounting and Legal Studies are accredited by AACSB International — the Association to Advance Collegiate Schools of Business.

Will I get a job when I graduate?

Past placement of MS ACCY students has been excellent. Over the past several years, all of our students have been placed by the time they graduate.
Some of the primary factors for job placement are:

  • Communication skills and the ability to market yourself – We have significant resources devoted to helping you gain access to potential employers, but MS ACCY students should be prepared to take responsibility for their own job searches.

  • Undergraduate and graduate grades - Undergraduate grades are of particular importance as recruitment takes place in the fall term, which is generally the first semester of enrollment.

  • Willingness to relocate – While there are potential employers in the Charleston area, there are many more job opportunities for MS ACCY students in larger markets like Charlotte, NC, Greenville, SC and Atlanta, GA.

  • Professional Development and Community Service – Employers of MS ACCY graduates tend to place great value on these things. Membership in our campus’ chapter of the accounting honor fraternity Beta Alpha Psi allows qualified students to learn more about careers in accounting and work toward improving the world in which we live.

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GETTING INTO THE PROGRAM

What are the prerequisite business classes for the MS ACCY*?

Legal Environment of Business
Principles of Macroeconomics
Principles of Microeconomics
Statistics
Business Finance
Management and Organizational Behavior
Marketing Concepts

*Pre-requisites may be taken at institutions other than College of Charleston provided that the institutions are accredited by the AACSB. In cases where these courses have been completed at non-AACSB institutions, the Graduate Committee will determine if the institutions are adequately accredited on a case-by-case basis.

What are the accounting prerequisite courses for the MS ACCY*?

Principles of Accounting
Accounting Information Systems
Cost/Managerial Accounting
Intermediate Financial Accounting I
Intermediate Financial Accounting II
Federal Taxation I
Auditing

*Pre-requisites may be taken at institutions other than College of Charleston provided that the institutions are accredited by the AACSB. In cases where these courses have been completed at non-AACSB institutions, the Graduate Committee will determine if the institutions are adequately accredited on a case-by-case basis.

Must I have an undergraduate degree in accounting to get into the MS ACCY program?

No. However, a student must have a Bachelor's degree and completed prerequisite courses in business and accounting (see above) before applying to the MS ACCY Program. Students interested in the MS ACCY Program who have not completed the prerequisites should contact Dr. Michael Cipriano, Program Director, to discuss the steps necessary to fulfill the pre-requisite requirements.

Foreign students who have not completed the required prerequisite courses or earned a degree equivalent to an American Bachelor's Degree should consider completing these at the College of Charleston or another accredited university in the USA.

If I don't have the pre-requisite accounting courses, can I take them at the College of Charleston?

Yes. The College of Charleston offers a rigorous summer schedule whereby all the upper-level accounting courses required for the MS Accountancy program will be offered. If a prospective MS Accountancy student holding a non-accounting business degree begins classes in May and takes the courses full-time, he/she should be able to complete the accounting courses required before the Fall semester.

During the time period in which students are taking prerequisites, they are considered non-degree seeking undergraduates. Upon completion of the prerequisites, the Graduate Committee will consider their application to the MS ACCY Program.

What is involved in applying for the MS ACCY program?

*Applications will not be reviewed until they are complete and the application fee has been paid.

Is an interview required for acceptance into the program?

No. However, we encourage potential students to visit the university and to talk with our students and faculty to learn more about the program.

When is my application due?

For May/Summer admission, applications must be completed by April 1. For Fall admission, applications must be completed by July 1. For students interested in being considered for graduate assistantships, applications for both admission to the program and the graduate assistantships must be completed by March 1. Spring admissions are discussed as needed.

What should my GMAT score be?

Generally, our students earn combined scores on Math and Verbal around the 50th percentile or better (above 520). The average GMAT score for students admitted to the program is generally around 570. The GRE exam is not acceptable. GMAT Scores must be no more than five years old.

What should my undergraduate GPA be?

Generally, your overall and accounting GPAs should be at least a 3.0 on a 4.0 scale. The average undergraduate GPA for students admitted to the MS ACCY program is generally around 3.4.

Applicants must have an AACSB score of at least 1120, but as a general rule, students admitted to the program have an AACSB score of 1200 or above. Your AACSB score is determined by multiplying your GPA on a 4.0 scale times 200 and then adding this number to your GMAT score [(GPA x 200) + GMAT Score].

Meeting GPA and GMAT minimums does not guarantee admission as the Graduate Committee takes several non-quantitative criteria into account as it makes admission decisions.

What should my computer-based TOEFL or IELTS score be (Applicable only to foreign students without a four-year undergraduate or graduate degree earned at an educational institution in the United States)?

The minimum accepted TOEFL score is 100 on the new, internet-based version (250 on the CAT version & 600 on the paper exam).

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ONCE YOU ARE IN THE PROGRAM

How long does it take to earn the MS ACCY degree?

The course of study consists of 30 semester hours. For full-time students who have completed all prerequisites, the program can be completed in two full semesters of 12 hours each (Fall and Spring) and one summer. Full-time students typically take 6 credits in May/Summer sessions and 12 credits each during Fall and Spring sessions.

Often, full-time students will either have summer internships and/or need to complete pre-requisites during the May/Summer preceding the Fall semester. These students typically take 4 classes each in Fall and Spring, and complete the program with 2 courses in the May Evening term (following Spring). The May Evening term ends in June so students taking May Evening courses will also have the opportunity to study and sit for the CPA Exam before beginning full-time employment (most traditional public accounting jobs begin in the Fall).

Other full-time students may start the program by taking 2 courses in May Evening. These students also typically take 4 classes each in Fall and Spring, and graduate from the program at the end of the Spring semester. The earlier graduation date increases the time a student has to study and sit for the CPA Exam before beginning full-time employment.

Part-time students will typically take 1 or 2 courses each Fall and Spring in addition to May and Summer courses. It is reasonable to expect to complete the program in 2 to 3 calendar years by taking courses at or after 4:00pm in the semesters when they are offered at night.

What courses are required for the MS ACCY degree?

We have two courses required for all students. ACCT 500 (Financial Accounting Theory) and ACCT 513 (Financial Statement Analysis). ACCT 500 will typically be offered in the Fall and is a pre-requisite for ACCT 513. ACCT 513 will typically be offered in the Spring.

Are there areas in which one can concentrate while getting a MS ACCY degree?

Students will choose the AIS, FR/A or GEN Track upon admission to the MS program. The Financial Reporting/Auditing (FR/A) and Accounting Information Systems (AIS) tracks consist of four courses each that are structured to develop a specialized skill set. The Generalist (GEN) track allows a student to take courses in both tracks and from our stated list of electives. There are four (4) GEN track courses related to taxation. Each track is oriented toward where the accounting profession is going (as opposed to where it has been). Each student should pick the track that best suits his/her professional interests.

The Accounting Information Systems (AIS) Track allows students to focus on both a) how information systems are constructed, maintained and protected from potential contaminants and b) how to generate business intelligence from large data sets using sophisticated analytical techniques and powerful computer languages. This track allows students to develop information technology skills as they prepare for careers in auditing (including Information Technology Auditing), high-level data analysis and business advisory services. Two AIS track courses will be offered each Fall (ACCT 551 and 555) and each Spring (ACCT 552 and 556).

The Financial Reporting/Auditing (FR/A) Track allows students to consider the future of financial reporting and auditing through the four-course track sequence. Advances in information technology and globalization are creating significant changes in the skills required to conduct financial statement and internal control audits. This track allows students to develop these skills as they prepare for careers in financial reporting, external and internal auditing. Two FR/A track courses will be offered each Fall (ACCT 507 and 509) and each Spring (ACCT 510 and 531).

The Generalist/Taxation (GEN) Track allows students to study various topics in accounting and business law, including taxation. A GEN track student can take courses in either of the other two tracks (AIS or FR/A) as part of his/her four-course track sequence. The taxation courses have been designed to build students’ research skills and knowledge of estate planning tax issues as well as the taxation of both pass-through entities and corporations. Two tax courses will be offered each Fall (ACCT 540 and 543) and each Spring (ACCT 542 and 545).

How flexible are the curriculum requirements?

Relative to most similar graduate programs, the number of accounting and non-accounting electives (typically 4) that our students take is high. This flexibility allows students to tailor their curriculum to fit their interests and career needs.

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PAYING FOR THE PROGRAM

What fees are involved for the MS ACCY program?

The MS ACCY tuition and fees for 2007-2008 are $3,889 per semester for an in-state student taking at least 12 credit hours. During semesters in which an in-state student takes less than 12 credit hours, tuition and fees are $324 per credit hour.

The MS ACCY tuition and fees for 2007-2008 are $9,366 per semester for an out-of-state student taking at least 12 credit hours. During semesters in which an out-of-state student takes less than 12 credit hours, tuition and fees are $781 per credit hour.

Tuition and fees for 2008-2009 will likely be adjusted before the Summer I 2008 session. For the most current information related to tuition and fees, see http://treasurer.cofc.edu/financial.html.

Are graduate assistantships available?

Yes. However, these merit-based awards are quite competitive. In order to be considered for most graduate assistantships, your application must be received by March 1. Finalists for these awards generally have GPAs and GMAT scores that are well above the program averages. You should apply for a graduate assistantship with your application for admission to the MS ACCY Program at: http://www.cofc.edu/gradschool/current/pdf_forms/graduateassistantship.pdf.

We typically offer 8 graduate assistantships each year which pay $3,100 per semester ($6,200 per year) plus in-state tuition and fees (for out-of-state residents) for the 2007-08 academic year. Our graduate assistants normally work 10 hours per week. Their work involves services to a department, office, or faculty member.

Are student loans available to MACC students?

Yes. Currently graduate students may borrow from several student loan programs. These programs are constantly changing. For specific program requirements and application materials, contact the Office of Student Financial Aid (http://www.cofc.edu/finaid)

Foreign students generally do not qualify for U. S.-based student loans.

Are there opportunities to find out more about the MS ACCY Program?

Yes. For additional information or to arrange a campus interview/visit, please contact:

Dr. Michael C. Cipriano
Director, MS ACCY Program

E-mail: ciprianom@cofc.edu
Phone: 843-953-7166
Web: www.cofc.edu/~accntncy/

And, for general information about the application process:

The Graduate School of the College of Charleston
66 George Street
Randolph Hall 310
Charleston, SC 29424

E-mail: gradsch@cofc.edu
Phone: 843-953-5614
Web: www.cofc.edu/gradschool/index.html

 
 
   

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Contact Us | MS ACCY Program • The Graduate School of the College of Charleston • 66 George St. • Randolph Hall 310 • Charleston, SC • 29424 • (843) 953-7166 |