Master of Science in Accounting

Master of Science: 45.0 quarter credits (for students entering with an undergraduate degree in accounting); 63.0 quarter credits (for students entering without an undergraduate degree in accounting)

About the Program

The MS in Accounting program, which can be completed in a one-year or two-year format, is designed to meet the needs of those who plan careers in public accounting, corporate accounting, not-for-profit accounting, or government accounting.

The one-year (45.0 quarter credit) option is for students already awarded an undergraduate degree in accounting. Students who do not have an undergraduate degree in accounting can be considered for admission to the two-year (63.0 quarter credit) program, where prerequisite courses are completed in the first year of study.

The program offers students the opportunity to obtain the technical knowledge, analytical skills and communication proficiency required to serve as ethical and effective accounting professionals. Upon completion of the program, students will be qualified to sit for the Certified Public Accountant (CPA) examination.

The one-year program builds on knowledge equivalent to the requirements for a Drexel University baccalaureate degree in business with a major in accounting. Some or all of the prerequisite courses may be waived at the time of admission for those who have completed equivalent courses in their undergraduate education and who can demonstrate proficiency. Applicants must have earned a minimum grade of C in each of the following prerequisite courses:
 

Prerequisite Requirements
ACCT 115Financial Accounting Foundations4.0
ACCT 116Managerial Accounting Foundations4.0
ACCT 321Financial Reporting I4.0
ACCT 322Financial Reporting II4.0
ACCT 323Financial Reporting III4.0
ACCT 331Cost Accounting4.0
ACCT 341Principles of Auditing4.0
TAX 341Individual Income Taxes4.0

 

For Drexel University students planning on entering this program, they are expected to be at Drexel for five years (4 undergraduate years + 1 year for the MS degree) with one co-op residency as part of their combined BS/MS program. Students with undergraduate accounting degrees from non-AACSB accredited schools and non-US schools will be reviewed based upon the curriculum and its comparability to the LeBow undergraduate program. These students may be required to take additional prerequisite courses prior to being admitted to the MS in Accounting program. Further, while students with undergraduate degrees in accounting from non-US schools may be eligible for admission to the program, completion of the program will not necessarily make them eligible to sit for the CPA examination. These students will be responsible for assessing whether their academic backgrounds make them eligible to sit for the CPA examination.

Students with undergraduate degrees in areas outside of accounting can be considered for admission to the two-year program or to the one-year program only after they acquire the necessary prerequisite undergraduate accounting and/or business courses. These students should contact the LeBow Advising Office to determine what courses are needed to gain admission to the MS in Accounting program.

State CPA Requirements

Under the accountancy law that became effective in Pennsylvania in 2012, an individual interested in practicing as a CPA is required to have the equivalent of 150 semester (225 quarter) credit hours of university education and 36 semester-credits (54 quarter-credits) in accounting subjects. The combined BS/MS in Accounting program satisfies this Pennsylvania state certification requirement. If students are interested in taking the CPA examination in another state (e.g., Delaware, New Jersey, Maryland), they will need to work in conjunction with the relevant State Board of Accountancy, the Accounting Department, and the LeBow Advising Office to ensure their eligibility to sit for the CPA examination in their desired state.

Students should contact the Accounting Department for additional information.

One-Year Program: Degree Requirements 

Required Core Courses
ACCT 600Accounting Analysis & Theory3.0
ACCT 603Strategic Cost Management3.0
ACCT 604International Financial Reporting3.0
ACCT 605Assurance Services3.0
ACCT 606Current Issues in the Accounting Profession3.0
ACCT 622Advanced Financial Accounting3.0
BLAW 626Law for the CPA Exam3.0
TAX 630Corporate Taxation3.0
Select two of the following:6.0
Forensic Investigation
Government and Not-for-Profit Accounting
Accounting Valuation Issues
Internal Auditing
Accounting Information Systems
Tax Research
Special Topics in Tax
Business Elective Courses15.0
Students take any five (5) business courses from within the Lebow College of Business. Students should consult with their program manager for the full list of approved electives available each term.
Total Credits45.0

 

Students should contact the Accounting Department for additional information.


Two-Year Program: Degree Requirements

Required Courses
ACCT 600Accounting Analysis & Theory3.0
ACCT 601Managerial Accounting3.0
ACCT 603Strategic Cost Management3.0
ACCT 604International Financial Reporting3.0
ACCT 605Assurance Services3.0
ACCT 606Current Issues in the Accounting Profession3.0
ACCT 622Advanced Financial Accounting3.0
ACCT 625Financial Accounting Theory I3.0
ACCT 626Financial Accounting Theory II3.0
ACCT 627Financial Accounting Theory III3.0
ACCT 631Cost Accounting 3.0
ACCT 640Auditing Theory and Philosophy3.0
BLAW 626Law for the CPA Exam3.0
ECON 601Managerial Economics3.0
FIN 601Corporate Financial Management3.0
STAT 601Business Statistics3.0
TAX 620Individual Taxation3.0
TAX 630Corporate Taxation3.0
Electives9.0
Students select an additional three elective courses. At least two courses must be ACCT or TAX. The following is a list of suggested electives. Students should consult with their program manager for the full list of approved electives available each term.
Forensic Investigation
Government and Not-for-Profit Accounting
Accounting Valuation Issues
Internal Auditing
Accounting Information Systems
Tax Research
Special Topics in Tax
Total Credits63.0

Accounting Courses

ACCT 600 Accounting Analysis & Theory 3.0 Credits

Topics may include: economic and political aspects of the financial reporting standard setting process; agency theory and efficient markets hypotheses and their financial reporting implications; analysis of accounting information with an emphasis on accounting measurement issues and evaluating the quality of financial accounting information for use in accounting-related decisions.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 601 Managerial Accounting 3.0 Credits

Discusses management accounting as part of the firm's information system, drawing on modern cost accounting and budgeting systems for planning and controlling business operations.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: BUSN 501 [Min Grade: C] or (BUSN 505 [Min Grade: C] and BUSN 506 [Min Grade: C])

ACCT 603 Strategic Cost Management 3.0 Credits

Examines recent advances in cost management principles and applies these principles to practical situations. Also covers how management accounting tools can be utilized by management for tactical and strategic profit planning and control.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 604 International Financial Reporting 3.0 Credits

Examines the international dimensions of financial reporting with primary emphasis on financial reporting and disclosure under International Financial Reporting Standards.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 605 Assurance Services 3.0 Credits

Focuses on emerging issues related to assurance services and involves researching and resolving practice-oriented problems. In addition to other relevant topics selected by the instructor, the course covers issues related to the audit of a company's internal controls.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 606 Current Issues in the Accounting Profession 3.0 Credits

This course focuses on key issues facing the profession. Students hear from speakers in the accounting profession about a variety of topics, including personal career issues, keys to professional success, and profession-wide developments.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 607 Forensic Investigation 3.0 Credits

Study of the process of locating, investigating, and documenting fraud in a business environment. Topics include: discussion of criminal statues related to financial crimes, techniques used in solving financial crimes, interviewing, rules of evidence, sources of information, forensic accounting procedures, and current issues in financial investigations.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 608 Government and Not-for-Profit Accounting 3.0 Credits

Topics may include: uses of fund accounting and budgeting in governmental entities; the financial reporting entity; elements of financial states; conceptual reporting issues for state and local governments; accounting and financial reporting for governmental and non-governmental not-for-profit organizations, including hospitals, universities, and voluntary health and welfare organizations.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 622 Advanced Financial Accounting 3.0 Credits

Studies theory and practice related to business combinations, consolidated financial statements, and other selected topics. Students who have taken advanced accounting at the undergraduate level should not enroll in this course.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Restrictions: Can enroll if major is ACCT.

ACCT 625 Financial Accounting Theory I 3.0 Credits

Introduces preparation of the income statement and the balance sheet. Covers analysis and recording of business transactions and a detailed study of accounting for assets, liabilities, and equity.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Restrictions: Can enroll if major is ACCT.

ACCT 626 Financial Accounting Theory II 3.0 Credits

Provides intensive review of current accounting practice in light of authoritative pronouncements and critical study of theory and practice relating to preparing financial statements.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Restrictions: Can enroll if major is ACCT.
Prerequisites: ACCT 625 [Min Grade: C]

ACCT 627 Financial Accounting Theory III 3.0 Credits

Continues critical study of accounting theory and practice relating to financial statement items and selected accounting topics and covers theory and practice relating to advanced accounting topics, with emphasis on consolidated financial statements.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Restrictions: Can enroll if major is ACCT.
Prerequisites: ACCT 626 [Min Grade: C]

ACCT 628 Accounting Valuation Issues 3.0 Credits

This course explores the role accounting information, accounting practices, and ratio analysis serves in determining the valuation of firm assets, liabilities and equity to support transactions such as asset impairment, mark-to-market accounting, business combinations or leveraged buyouts. Case studies will highlight current and emerging valuation issues and challenges.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: ACCT 627 [Min Grade: C] or ACCT 323 [Min Grade: C]

ACCT 631 Cost Accounting 3.0 Credits

Cost accounting information is essential to many forms of communication in business enterprises. It is important not only to understand how cost accounting information is developed and used, but also to consider why it is used (i.e., its purpose), and whether it should be used for that purpose. Students will learn how concepts, procedures, and techniques are applied in practice and learn to critically evaluate their use.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: ACCT 601 [Min Grade: C]

ACCT 640 Auditing Theory and Philosophy 3.0 Credits

This course is designed to provide a basic overview of the audit profession, role and responsibilities of the external auditor and the audit process. You will become familiar with concepts, processes and procedures that an external auditor utilizes during the scope of an audit engagement.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 644 Internal Auditing 3.0 Credits

Internal auditing provides an organization with independent, objective assurance and consulting activity designed to add value and improve an organization's operations. Topics covered vary at the discretion of the instructor and frequently include: the Institute of Internal Auditor's International Professional Practices Framework, risk assessment including internal control system evaluation and enterprise wide risk assessment, corporate governance, and the relationship of management and employee fraud to the internal audit process. The course includes outside speakers and cases to highlight current issues.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 650 Accounting Information Systems 3.0 Credits

Examines the relationships and distinctions between accounting information systems (AIS) and the total management information system, with major emphasis on computerized AIS. Covers oral and written communication, objectives and procedures of internal control, proper system documentation through flowcharts and other techniques, and systems analysis and design methodologies.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 698 Special Topics 0.5-9.0 Credits

See department for course description.

College/Department: LeBow College of Business
Repeat Status: Can be repeated multiple times for credit
Prerequisites: ACCT 111 [Min Grade: C] or ACCT E311 [Min Grade: C] or ACCT 511 [Min Grade: C] or BUSN 501 [Min Grade: C]

ACCT 699 Independent Study 0.5-4.0 Credits

Independent Study.

College/Department: LeBow College of Business
Repeat Status: Can be repeated multiple times for credit
Prerequisites: ACCT 601 [Min Grade: C] or ACCT 602 [Min Grade: C] or ACCT 620 [Min Grade: C]

ACCT 790 Seminar in Accounting 3.0 Credits

Examines selected accounting topics from the standpoint of historical background, current theory, and future application to financial reporting. Requires oral and written reports.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: ACCT 621 [Min Grade: C]

ACCT 910 Research Methods in Accounting 3.0 Credits

Provides in-depth analysis of the application of research methodologies in accounting.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 921 Empirical Research in Accounting I 3.0 Credits

An introduction to empirical research concerning financial accounting and the capital markets.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 922 Empirical Research in Accounting II 3.0 Credits

This course builds upon the material in ACCT 921 and examines topics in empirical research in financial accounting and the capital markets.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: ACCT 921 [Min Grade: C]

ACCT 931 Behavioral Research in Accounting I 3.0 Credits

Seminar involving an in-depth analysis and critique of the experimental design, conclusions, use and choice of subjects, and statistical techniques of judgment and decision-making in accounting.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

ACCT 932 Behavioral Research in Accounting II 3.0 Credits

Seminar involving an in-depth coverage of accounting research utilizing experimentation designs to examine issues such as instrument development.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: MGMT 904 [Min Grade: C]

ACCT 990 Special Topics-PhD-Accounting 0.5-9.0 Credits

College/Department: LeBow College of Business
Repeat Status: Can be repeated multiple times for credit

ACCT 998 Dissertation Research in Accounting 1.0-12.0 Credit

College/Department: LeBow College of Business
Repeat Status: Can be repeated multiple times for credit

ACCT 999 Independent Study in Accounting 3.0 Credits

ACCT Independent Study.

College/Department: LeBow College of Business
Repeat Status: Can be repeated 3 times for 9 credits

Taxation Courses

TAX 611 Tax Research 3.0 Credits

Uses tax research cases to demonstrate the use and interrelationship of statutory, legislative, and judicial authority. Requires students to have access to a personal computer for assignments.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

TAX 615 Tax Practice and Procedure 3.0 Credits

Covers the history and organization of the Internal Revenue Service, audit and conference procedures, administrative and judicial procedures governing tax controversies, and rights and obligations of the taxpayer.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

TAX 620 Individual Taxation 3.0 Credits

Covers fundamentals of federal income taxation with respect to individuals, addressing items of income inclusion and exclusion and statutory deductions in arriving at tax liability. Students who have taken individual taxation at the undergraduate level should not enroll in this course.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: BUSN 501 [Min Grade: C] or (BUSN 505 [Min Grade: C] and BUSN 506 [Min Grade: C])

TAX 630 Corporate Taxation 3.0 Credits

Examines the impact of federal income taxes on corporate income and corporate distributions received by shareholders.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

TAX 631 Advanced Corporate Taxation 3.0 Credits

Continuation of TAX 630 with emphasis on consolidated tax returns.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: TAX 630 [Min Grade: C]

TAX 640 Partnership Taxation 3.0 Credits

Examines statutory and administrative authority governing the federal taxation of partnership.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: TAX 620 [Min Grade: C] or TAX 341 [Min Grade: C]

TAX 650 Estate and Gift Taxation 3.0 Credits

Covers taxation of lifetime gifts and decedent's estate, including valuation of property subject to estate and gift taxes.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: TAX 620 [Min Grade: C] or TAX 341 [Min Grade: C]

TAX 651 Estate Planning 3.0 Credits

Covers planning aspects of personal investments and business transactions, with emphasis on the potential impact of federal taxes on the transfer of wealth.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: TAX 650 [Min Grade: C]

TAX 652 Fiduciary Income Taxation 3.0 Credits

Provides an in-depth analysis of Subchapter J of the Internal Revenue Code, with case studies involving both compliance and planning.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: TAX 630 [Min Grade: C] or TAX 342 [Min Grade: C]

TAX 660 Tax Basis for Decision Making 3.0 Credits

Not open to MST students. Offers an overview of personal financial planning.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: TAX 790 [Min Grade: C]

TAX 675 Taxation of Multi-national Corporations 3.0 Credits

Examines provisions of the Internal Revenue Code relating to the taxation of income earned by corporations doing business in the United States and one or more other countries.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

TAX 698 Special Topics in Tax 0.5-9.0 Credits

College/Department: LeBow College of Business
Repeat Status: Can be repeated multiple times for credit

TAX 699 Independent Study 12.0 Credits

Independent Study.

College/Department: LeBow College of Business
Repeat Status: Can be repeated multiple times for credit

TAX 723 Tax Accounting 3.0 Credits

Covers accounting periods and methods, allocations among taxpayers, timing of income and deductions, relief provisions, and other accounting aspects of federal taxation.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: TAX 620 [Min Grade: C] or TAX 341 [Min Grade: C]

TAX 730 Taxation of Sub S Corporations 3.0 Credits

Coverts federal income taxation of small business electing Subchapter S status.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: TAX 630 [Min Grade: C] or TAX 342 [Min Grade: C]

TAX 740 State and Local Taxation 3.0 Credits

Covers the various state and local taxes in the tri-state area.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: TAX 620 [Min Grade: C] or TAX 341 [Min Grade: C]

TAX 761 Qualified Retirement Plans 3.0 Credits

Examines the income from qualifies plans, Keoghs, SIMPLEs, 401(k)s, and 403(b)s.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

TAX 781 Tax Fraud & White Collar Crime 3.0 Credits

Covers civil and criminal tax investigations, including administrative summons, document production and constitutional protection, professional responsibilities and ethics for the tax practitioner, and privileged communications.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit
Prerequisites: TAX 620 [Min Grade: C]

TAX 790 Tax Policy Seminar 3.0 Credits

Open to all graduate students. Analyzes the potential influence of tax laws on taxpayers' behavior and their decision-making ability to extract an arbitrage profit. Requires term paper.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

TAX 791 Tax Seminar 3.0 Credits

Requires each student to choose a provision of the federal tax law and submit a scholarly paper analyzing the legal attributes and tax planning opportunities of the law.

College/Department: LeBow College of Business
Repeat Status: Not repeatable for credit

TAX 999 TAX Independent Study 3.0 Credits

TAX Independent Study.

College/Department: LeBow College of Business
Repeat Status: Can be repeated 3 times for 9 credits

Accounting and Tax Faculty

Hsihui Chang, PhD (University of Minnesota) KPMG Professor of Accounting. Professor.
Hiu Lam Choy, PhD (University of Rochester). Associate Professor. Financial accounting.
Anthony P. Curatola, PhD (Texas A&M University) Joseph F. Ford Professor of Accounting. Professor. Federal and state income tax policy, retirement income taxation, fringe benefits taxation, educational savings and tax incentives, federal and state income tax research.
Xin Dai, PhD (University of Minnesota). Assistant Professor. Empirical capital markets research, including insider trading, accounting regulation, and disclosure.
Patricia L. Daniel Derrick, PhD (The George Washington University). Associate Clinical Professor.
Hubert Glover, PhD (Texas A&M University) Department Head. Associate Clinical Professor. International financial reporting.
Barbara Murray Grein, PhD (University of North Carolina). Associate Professor. Auditing, auditor selection, audit adjustments, audit fees, corporate governance, financial reporting.
Curtis M. Hall, MBA (University of Arizona). Assistant Professor. Strategic cost management; corporate governance; capital markets research in accounting; human capital investment.
Kevin K. Jones, EDB (Georgia State University). Assistant Clinical Professor.
Natalya V. Khimich, PhD (University of Califormia at Berkeley). Assistant Professor. Equity valuation, earnings quality, and accounting for innovation and intangible assets.
Stacy Kline, MPA, CPA (Temple University). Clinical Professor. Individual, corporation; S corporation and partnership taxation.
Johnny Lee, PhD (University of Utah). Associate Clinical Professor. Accounting information systems; Managerial accounting; Supply chain management; e-business.
Gordon Ndubizu, PhD (Temple University). Professor. Financial accounting.
Duri Park, PhD (Ohio State University). Assistant Professor. Financial accounting, insider trading, investments, and cash holdings.
Bernhard Reichert, PhD, CPA (University of Texas at Austin). Assistant Professor. Behavioral research in accounting and experimental economics.
Mark Vargus, PhD (University of Pennsylvania). Assistant Professor. Capital market research and executive compensation.
Jennifer Wright, CPA, MTA Master of Tax Accounting (Villanova University) Assistant Department Head. Associate Clinical Professor.
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