Master of Science in Accounting
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The Master of Science in Accounting degree at Our Lady of the Lake University (OLLU) is designed for the working accounting professional who wants to deepen and strengthen their skills in accounting theory and practice while establishing eligibility to sit for the Certified Public Accountants (CPA) Exam. It is offered on the weekends, with some classes offered online, and can be completed in one year.
The program focuses on:
- Analytical methods and processes
- Critical thinking
- Case studies and scenarios from real-world accounting and business situations
- Needed advanced accounting coursework to allow students to prepare and sit for the CPA Exam
MS Accounting Program Overview
The field of accounting will continue to see strong growth. Individuals who have completed advanced coursework will be prepared to take the CPA Exam and increase their promotion and career prospects.
OLLU’s Master of Science in Accounting program is designed for busy accounting professionals offering:
- Classes that meet every other weekend offering a balance of work, family and school
- A 30-credit-hour program (10 courses) that can be completed in one year
- Small classes allowing faculty to provide direct guidance to help students reach their career goals
- Preparation for the CPA Exam and eligibility for accounting certificates including the Certified Internal Auditor (CIA) and
- Certified Management Accountant (CMA) certificates
Students who complete the Master of Science program will have earned the advanced accounting hours necessary to sit for the Certified Public Accountant (CPA) exam. In addition, students will be eligible for other accounting certifications, including Certified Internal Auditor (CIA) and Certified Management Accountant (CMA).
The program is offered on the weekends and can be completed in one year. It is designed
for the working professional with classes that meet every other weekend to allow for
a balance of work, family and school.
This business program is accredited by the Accreditation Council for Business Schools
and Programs (ACBSP). ACBSP is a leading specialized accreditation association for
business education, supporting, celebrating and rewarding teaching excellence on a
diverse global scale.
Advanced Credits needed for CPA Exam
Why Earn a Master of Science in Accounting Degree?
OLLU’s Master of Science degree in Accounting enriches you with accounting theory and practical skills necessary for real-life application. With a 100% Pass Rate for our students who tested for any subject area on the CPA exam, you can deepen your understanding of complex accounting principles, foster critical thinking and problem-solving skills, and expose yourself to emerging trends and technologies. A Master’s in accounting also allows you to engage in research and contribute to advancing accounting knowledge, making you a valuable asset to your organization and the profession.
What Will You Learn in Our MS in Accounting Degree?
A Master’s in Accounting program at Our Lady of the Lake University equips you with advanced skills in accounting and taxation. The comprehensive curriculum prepares you for various career opportunities in accounting, finance, auditing, and taxation while emphasizing ethical conduct. Here are some key courses and what you can expect to learn:
Managerial Control System: This course addresses decision-making issues of complex organizations.
- Financial Statement Analysis: Here, you will learn the interpretation of financial statements for auditing and financial analysis.
- Internal Auditing: Evaluation of internal controls and social responsibility in the accounting profession.
- Business Income Taxation: In-depth study of corporate tax laws.
- Governmental Accounting: Accounting in the public sector and nonprofit organizations.
- Federal Tax Research: Research skills for applying federal tax laws.
- Forensic Accounting and Fraud Examination: Detecting and investigating financial fraud.
- Advanced Business Combinations: Addresses accounting problems and issues associated with foreign currency transactions
- Contemporary Topics in Accounting: Emerging trends and industry issues.
- Professional Ethics for Accountants: Understanding ethical responsibilities in accounting.
Is a Master’s in Accounting Degree Worth It?
Unlocking the door to a Master’s in Accounting degree is your key to financial success and professional fulfillment. Enrolling in Our Lady of the Lake University’s Master of Science degree in Accounting is a smart investment, opening doors to positions with salaries above $120,000. High-earning potential, combined with approximately 126,500 annual job openings, makes it a compelling choice for securing a financially rewarding future.
Courses in the Accounting Master's Degree
At OLLU, our Master of Science in Accounting degree program is designed to prepare you to integrate accounting theory with practical applications skills and prepare for the CPA exam.
The program is 30 credit hours (10 courses) and classes are offered on the weekends to allow you to continue working full-time and balance school and family obligations. The program is composed of the following courses:
ACCT 8310 | 3 CREDIT HOURS
This course addresses managerial control issues of complex organizations, including strategic planning, implementation, coordination of accounting into the planning process, design and control of responsibility center, development of budgetary models, generally accepted accounting principles, performance measurements, price and costing models, and internal controls.
ACCT 8315 | 3 CREDIT HOURS
This course prepares students to analyze, interpret, and assess an entity’s financial statements for liquidity, solvency, and profitability and identify errors and missing data. Students will understand ways to mitigate financial risks through ratio analysis and variances. This course examines the issues of how firms create or destroy value for their shareholders and how financial statements can be used to identify value-creating opportunities. Students must have a substantial understanding of accounting, especially in the areas of disclosure and reporting, as well as how working capital is affected through debt, various banking policies, and pricing models.
ACCT 8319 | 3 CREDIT HOURS
An examination of current problems and procedures used by internal auditors, the use of auditing judgement, development of audit programs, internal controls and evaluation. Included will be discussion of current ethical and social responsibility in the accounting profession.
ACCT 8330 | 3 CREDIT HOURS
This course examines federal income taxation as it impacts corporations, partnerships, trusts and estates, including accounting methods, donative transfers, consolidations, IRS Audit procedures, tax planning and research.
ACCT 8340 | 3 CREDIT HOURS
This course focuses on budgeting, accounting, auditing and financial reporting principles and practices as they relate to government and other nonprofit entities.
ACCT 8350 | 3 CREDIT HOURS
This course is an in-depth study of how to locate and resolve tax questions. Students will become acquainted with various tax materials both in paper and electronic form, court cases, IRS Rulings, IRS Procedures, tax court cases and IRS publications.
ACCT 8354 - 3 CREDIT HOURS
This course explores the forensic accountant’s role in today’s economy. Topics covered include fraud detection and fraud investigation techniques, valuation of closely held businesses, lost profits analyses, and various types of litigation support services. Fundamental legal concepts governing expert witness testimony are also examined, and students are required to quantify economic damages in cases. By the end of the course students are able to understand both the pervasiveness and the causes of fraud and white-collar crime in our society, examine the types of fraud and fraud schemes that affect business enterprises, explore methods of fraud detection and prevention, and increase their ability to recognize potential fraudulent situations.
ACCT 8360 | 3 credit hours
This course addresses accounting problems and issues associated with foreign currency transactions and SEC reporting and segment reporting. In addition there will be an examination of the requirements and context of due diligence from financial statements including methods of valuation, market caps, financial reporting before and after, as well as the tax implications associated with a reorganization.
ACCT 8320 | 3 credit hours
In-depth coverage of current topic in accounting. Included will be analysis, concentration and presentation in such areas as financial management and reporting, forensics, taxation, auditing, international, legal and ethical issues facing the accounting profession. May include topics related to accounting such as financial valuation issues and current economic issues. Current events will dictate the specific topic.
Note: Can be taken up to 3 times maximum as long as the topic is different and with the prior approval of the Accounting Program Head. Possible topics include: Auditing Clarity Projects, Estates and Trusts, IFRS, Non-profit Accounting, Risk Management, Study Tour, and Varied Topics.
ACCT 8325 | 3 CREDIT HOURS
This course addresses ethical reasoning, integrity, objectivity, independence, core values, and professional issues in accounting. Students will apply the concepts of theories to accounting cases.
- Application (no application fee)
- Senior standing as an undergraduate student or an earned baccalaureate degree from a regionally accredited institution
- Official transcripts of all previous college work
- A 3.0 GPA or better in the last 60 hours of undergraduate level work and a GPA of 2.5 or better in the undergraduate major
- Two references knowledgeable about the applicant’s managerial and/or professional performance
- A résumé highlighting managerial or professional work experience
Full-time faculty members in the Accounting Department have extensive professional and academic experience. Most have doctoral degrees and/or professional certifications. Seasoned practitioners who teach selected courses complement full-time professors as adjunct faculty. View Accounting Faculty
What Can You Do With a Master's in Accounting?
Enrolling in a Master’s Degree in Accounting with Our Lady of the Lake University paves the way to many exciting career opportunities in the ever-evolving landscape of finance and accounting. Whether you envision yourself as a financial strategist, a tax expert, or an auditing professional, this program provides the stepping stones to your chosen path.
- Some of the potential job titles that could have in the future include:
- Certified Public Accountant (CPA)
- Financial Analyst
- Corporate Accountant
- Tax Specialist
- Forensic Accountant
- Management Accountant
- Government Accountant
- Financial Planner
Tuition & Financial Aid
The weekend Master of Science in Accounting program is an investment in your career and future. Unlike other area programs, the OLLU weekend program allows you to continue working full-time so you don't lose valuable on-the-job experience while completing your advanced degree and preparing for the CPA Exam.
|Our Tuition (2023–2024 rate)||$3,220 per course|
|Average Tuition of Peer Online Institutions||$4,330 per course|
|Average Total Cost||$38,640|
You should begin the Financial Aid application process at the same time that you apply to the graduate program. To be considered for financial aid, you must complete the Free Application for Federal Student Aid (FAFSA) at www.studentaid.gov . Please list Our Lady of the Lake University, federal school code #003598, as one of the schools to receive your application information. OLLU will receive your results electronically and use them to award your financial aid.
A Master’s Degree in Accounting is a graduate program that provides advanced education in accounting, preparing students for careers in accounting, auditing, taxation, and finance.
Benefits include better job prospects, eligibility for CPA licensure, and specialization options in areas like forensic accounting or taxation.
A Master’s in Accounting at Our Lady of the Lake University typically can be completed in 1 year.
Common requirements include a bachelor’s degree from a regionally accredited institution, competitive GPA, references, and résumés.