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SCHOOL OF BUSINESS ADMINISTRATION
– GRADUATE
www.bus.miami.edu
DEGREE PROGRAMS
The Department of Accounting offers two degree programs
leading to the Master’s degree:
Master of Accounting (MAcc) and
Master of Science in Taxation (MST).
While the programs are similar in that they offer an opportunity
to concentrate in accounting, they differ in degree of specialization
and career path orientation. The MAcc offers two separate
tracks in assurance and corporate accounting while the MST
is designed for students interested in careers in taxation.
For admission to either program, based on an undergraduate
degree from an accredited U.S. institution, we consider the
applicant’s undergraduate grade point average, GMAT
score, grades in specific accounting courses, the rigor of
the undergraduate program, and other factors such as work
experience. Admission decisions are made on a competitive
basis from the applicant pool.
Students without an undergraduate degree in accounting will
be required to take certain prerequisite courses to secure
admission. These prerequisites will depend upon the undergraduate
major and previous accounting courses taken. Necessary prerequisite
accounting courses can be taken in the University of Miami
Accounting Summer Intensive Program, which is a seven-week
program beginning in early July.
Foreign students must provide evidence of proficiency in
English by supplying a TOEFL score.
Additionally, foreign students must have successfully completed
two semesters of intermediate accounting, one semester of
cost accounting, one semester of auditing, one semester of
accounting systems and one semester of tax at a U.S. university
accredited by the AACSB before enrolling in graduate accounting
courses. Alternatively, foreign students may attend the University
of Miami Accounting Summer Intensive Program to fulfill this
requirement.
SCHOLARSHIPS
University of Miami School of Business - Alumni Association
Endowed Accounting Scholarships are available for students
pursuing Graduate Studies in Accounting. Various other scholarships
and assistantships may be available. An application may be
obtained from the Department’s website.
MASTER OF ACCOUNTING (MAcC)
The MAcc program offers two tracks: Assurance (MAcc-Assurance)
for students planning to go into public accounting and Corporate
Accounting (MAcc-Corporate) for students planning careers
as controllers, CFOs or financial analysts.
In addition to the traditional one year of full-time study
beyond the Bachelor’s level, the MAcc and the MST programs
are offered as accelerated programs for UM undergraduates.
Students in the accelerated programs have the option of obtaining
an International Designation.
The MAcc is designed for the student who has taken the accounting
and related courses required for an undergraduate major in
accounting or other undergraduate business majors who have
successfully completed the Accounting Summer Intensive Program
. These students should be able to complete the MAcc in a
year or less provided they enroll as full time students.
Undergraduate Course Requirements
The courses listed below are undergraduate prerequisites
that, unless already completed, must be fulfilled in order
to be admitted for graduate study. For most graduate tax classes
the equivalent of ACC 404: Advanced Taxation (Corporate and
Partnership Income Taxation) is also required. If a candidate
does not have an undergraduate business degree, additional
business prerequisites (economics, marketing, management,
finance and others) will also be required.
Principles of Financial Accounting (ACC 211)
Managerial Accounting (ACC 212)
Intermediate Financial Accounting I and II (ACC 311 and 312)
Cost/Managerial Accounting (ACC 301)
Auditing (ACC 402)
Fundamentals of Taxation (ACC 403)
Accounting Information Systems (ACC 406)
Master of Accounting—Assurance Track (MAcc-Assurance)
The program requires 30 semester hours consisting of five
required courses and the balance of approved elective courses
provided the student has an undergraduate degree in Accounting,
or its equivalent, from an accredited institution. Of the
elective courses, at least four credits must be selected from
electives with an accounting emphasis (refer to list below).
Courses with a 600-level designation are designed for graduate
students. Courses with a 500-level designation are open to
graduate students and upper-level undergraduate students.
Graduate students are permitted to take up to 6 semester hours
in 500-level courses. The remaining credits must all be earned
in 600-level courses.
Required courses:
ACC 530 International Financial Reporting Standards (1 credit)
ACC 603 Studies in Financial Reporting Issues
ACC 610 Accounting Research and Theory
ACC 611 Auditing Seminar
In addition to the above courses, a student must select one
of the following courses:
ACC 602 Analysis of Financial Statements
ACC 672 Advanced Financial Analysis
In addition to the above courses, a student must take at
least two credits from the following accounting courses:
ACC 522 Advanced Issues in Auditing
ACC 524 Accounting for Governmental and Not-for-Profit Entities
ACC 620 Accounting Controls in Information Technology
ACC 623 International Accounting and Taxation
ACC 648 Financial Reporting Implications of Income Taxes
ACC 675 Compensation, Incentives and Strategic Control
ACC 677 Forensic Accounting
Students may select their other electives from courses above
or the following courses:
ACC 640 Corporate Taxation I
ACC 641 Corporate Taxation II
ACC 642 Seminar in Taxation
ACC 643 Tax Research
ACC 645 Partnership Taxation
ACC 647 Estate and Gift Taxes
ACC 649 Issues in Tax Policy
ACC 662 Taxation of Multinational Corporations
ACC 677 Forensic Accounting
BSL 691 The Public Corporation
BUS 602 Critical Thinking and Effective Writing (1 credit)
BUS 603 Critical Thinking and Effective Presentations (1 credit)
Any other electives must be selected in consultation with
the Program Director.
Master of Accounting—Corporate Accounting Track
(MAcc-Corporate)
The program requires 30 semester hours consisting of five
required courses and the balance of approved elective courses
provided the student has an undergraduate degree in Accounting,
or its equivalent, from an accredited institution. Of the
elective courses, at least two credits must be selected from
electives with an accounting/finance emphasis (refer to list
below). Courses with a 600-level designation are designed
for graduate students. Courses with a 500-level designation
are open to graduate students and upper-level undergraduate
students. Graduate students are permitted to take up to 6
semester hours in 500-level courses. The remaining credits
must all be earned in 600-level courses.
Required courses:
ACC 530 International Financial Reporting Standards (1 credit)
ACC 603 Studies in Financial Reporting Issues
ACC 675 Compensation, Incentives and Strategic Control
FIN 670 Corporate Finance
In addition to the above courses, a student must select one
of the following two courses
ACC 602 Analysis of Financial Statements
ACC 672 Advanced Financial Analysis
In addition to the above courses, a student must take at
least one course from the following accounting or finance
courses:
ACC 610 Accounting Research and Theory
ACC 677 Forensic Accounting
FIN 650 Financial Investment
FIN 651 Advanced Topics in Investments
FIN 660 International Finance
FIN 671 Advanced Topics in Corporate Finance
FIN 685 Mathematics of Financial Derivatives
Students may select their other electives from courses above
or the following courses:
ACC 522 Advanced Issues in Auditing
ACC 524 Accounting for Governmental and Not-for-Profit Entities
ACC 601 Trends in Present Day Accounting
ACC 606 Internal Auditing
ACC 611 Auditing Seminar
ACC 620 Accounting Controls in Information Technology
ACC 623 International Accounting and Taxation
ACC 640 Corporate Tax I
ACC 641 Corporate Tax II
ACC 642 Seminar in Taxation
ACC 643 Tax Research
ACC 647 Estate and Gift Taxes
ACC 648 Financial Reporting Implications of Income Taxes
ACC 649 Issues in Tax Policy
ACC 662 Taxation of Multinational Corporations
BSL 691 The Public Corporation
BUS 602 Critical Thinking and Effective Writing (1 credit)
BUS 603 Critical Thinking and Effective Presentations (1 credit)
Any other electives must be selected in consultation with
the Program Director.
MASTER OF SCIENCE IN TAXATION (MST)
This program affords the accounting major or equivalent the
opportunity to specialize in the area of taxation. Through
electives, students are able to expand their areas of expertise,
so that they may adequately prepare themselves for careers
requiring a high degree of specialized tax knowledge in public
accounting, private industry, and government. The program
requires 30 semester hours consisting of six required courses
and the balance of approved elective courses provided the
student has an undergraduate degree in Accounting, or its
equivalent, from an accredited institution and has completed
ACC403: Fundamentals of Taxation and ACC404: Advanced Taxation,
or their equivalents.. Of the elective courses, at least two
courses must be selected from electives with a tax emphasis
(refer to list below). Courses with a 600-level designation
are designed for graduate students. Courses with a 500-level
designation are open to graduate students and upper-level
undergraduate students. Graduate students are permitted to
take up to 6 semester hours in 500-level courses. The remaining
credits must all be earned in 600-level courses.
Required courses:
ACC 640 Corporate Taxation I
ACC 641 Corporate Taxation II
ACC 643 Tax Research
ACC 645 Partnership Taxation
ACC 648 Financial Reporting Implications of Income Taxes
In addition to the above courses, a student must select at
least one of the following courses:
ACC 623 International Accounting and Taxation
ACC 649 Issues in Tax Policy
ACC 662 Taxation of Multinational Corporations
Students may select their other electives from courses above
or the following courses:
ACC 522 Advanced Issues in Auditing
ACC 524 Accounting for Governmental and Not-for-Profit Entities
ACC 530 International Financial Reporting Standards (1 credit)
ACC 601 Trends in Present Day Accounting
ACC 602 Analysis of Financial Statements*
ACC 603 Studies in Financial Reporting Issues
ACC 606 Internal Auditing
ACC 610 Accounting Research and Theory
ACC 611 Auditing Seminar
ACC 620 Accounting Controls in Information Technology
ACC 642 Seminar in Taxation
ACC 647 Estate and Gift Taxes
ACC 672 Advanced Financial Analysis and Valuation**
ACC 675 Compensation, Incentives and Strategic Control
ACC 677 Forensic Accounting
BSL 691 The Public Corporation
BUS 602 Critical Thinking and Effective Writing (1 credit)
BUS 603 Critical Thinking and Effective Presentations (1 credit)
*Not open to students who have taken ACC 672
**Not open to students who have taken ACC 602 Any other electives
must be selected in consultation with the Program Director.
ACCELERATED MASTER’S PROGRAMS
In addition to offering the Master of Accounting (MAcc) and
Master of Science in Taxation (MST) on the usual time frame
involving one year of full-time study beyond the Bachelor’s
level, the MAcc-Assurance Track, MAcc-Corporate Track, and
MST are offered as accelerated programs. These programs permit
high achieving accounting students who have accelerated their
education by taking advanced courses in high school, testing
out of classes, taking increased class loads, or going to
summer school, to start their graduate work while seniors.
The accelerated programs are available only to students who
are undergraduate students at the University of Miami. The
programs are designed in such a way that students can expect
to complete both their Bachelor’s and Master’s
degrees and make significant progress on the CPA exam (if
not complete it entirely) within 4½ years. In addition,
these programs are extremely price competitive.
Accelerated Program Timeline
1. Internship in summer after junior year
2. Twelve credits of work in senior year will count towards
their graduate degree (only students in the accelerated
programs will be permitted to take these classes during
their senior year).
3. In summer after senior year take one graduate course,
CPA review course, and CPA exam.
4. Complete remaining credits of graduate work in fall semester
after senior year.
Prerequisites
The following must be completed before students begin their
senior year:
• A minimum of 102 credit hours
• 15 credit hours of the 21-hour Professional Business
Core including CIS 410, ECO 302, FIN 302, MGT 303, and MGT
304. (MGT 401 must be taken in the final semester and FIN
303 will be taken as the core elective in the senior year.)
• The following Accounting major requirements: ACC
301, ACC 311, ACC 312, ACC 402 ACC 403, and BSL 301.
• All other requirements for a Bachelor’s degree
other than those that will be satisfied through completion
of the undergraduate courses taken while in senior-graduate
status.
Senior Year Curriculum (Senior-Graduate Status)
The curriculum for the senior year is the same for all tracks
(except that students selecting the MAcc-Corporate track must
complete FIN 303 in order to take the graduate finance courses
required for the track) and consists of 14 credits in the
fall and 16 credits in the spring semester as follows:
Fall Semester Senior Year
Recommended Sequence:
ACC 404 Advanced Taxation (3 credits)
ACC 406 Accounting Systems (3 credits)
FIN 303 Intermediate Financial Management (3 credits)
Courses offered only in the fall:
ACC 524 Accounting for Governmental and Not-for-profit Entities
(2 credits)
ACC 530 International Financial Reporting Standards (1 credit)
BSL 691 The Public Corporation (2 credits)
Spring Semester Senior Year
Recommended Sequence:
ACC 511 Advanced Accounting (3 credits)
MGT 401 Strategic Management (3 credits)
One other non-accounting undergraduate course (3 credits)
Courses offered only in the spring:
ACC 643 Tax Research (2 credits)
ACC 522 Advanced Issues in Auditing (3 credits)
BUS 602 Critical Thinking and Effective Writing (1 credit)
BUS 603 Critical Thinking and Effective Presentations (1 credit)
Students should select their track (MAcc-Assurance, MAcc-Corporate,
or MST) by the spring semester of their senior year before
registering for their final fall graduate classes.
Summer after Senior Year
Students must take one 2 or 3-credit graduate course. Accounting
courses are offered based on demand and could include ACC
620, Accounting Controls in IT (offered every summer).
Students would also be expected to take a CPA review course
and pass part, if not all of the CPA exam during this summer.
(The CPA review course is not a formal part of the master’s
program but it is highly recommended.)
Final Fall Semester
In the final fall semester students will complete 15 graduate
classes including the requirements for their track and electives
selected in consultation with the Program Director.
Admission to the Accelerated Programs
Incoming Freshmen
• Prospective students apply to the accelerated
program when they apply for admission to the University
of Miami.
• SAT scores should meet or exceed 1400; high school
unweighted GPA should meet or exceed 3.75.
• Students are required to have an overall and accounting
GPA of 3.0 or higher by their junior year in college and
to maintain this GPA after their junior year.
• Students will need to have completed 102 credit
hours by the start of their senior year.
Current University of Miami Undergraduate Accounting Majors
• Students apply to the accelerated program by February
1 of their junior year.
• Admission to the program will be primarily based
on GPA and letters of recommendation. It is expected that
the students admitted to the program will have GPAs exceeding
3.5, but students with these scores are not guaranteed admission.
The decision will depend on the quality and size of the
application pool.
• After admission, students must maintain an overall
GPA of 3.0 or higher and an accounting GPA of 3.0 or higher
to remain eligible.
• Students will need to have completed 102 credit
hours by the start of their senior year including ACC 301,
ACC 311, ACC 312, ACC 402, ACC 403, and BSL 301.
International Designation Requirements
Admission to this accelerated program is expected to be more
competitive given the small number of international internships
that will be available.
Incoming Freshman Admission Requirements
Applicants must meet the freshman admission requirements
of the accelerated program as well as:
• Maintain an overall GPA of 3.00 or higher and
an accounting GPA of 3.25 or higher,
• Demonstrate proficiency in a second language.
Current University of Miami Undergraduate Accounting Major
Admission Requirements
Applicants must meet accelerated program admission requirements
as well as:
• Have an overall and accounting GPA of 3.5 or higher,
• Demonstrate proficiency in a second language,
GRADUATE CERTIFICATE PROGRAMS IN ACCOUNTING
AND TAXATION
The Graduate Certificate in Accounting and the Graduate Certificate
in Taxation programs are designed for students who have an
undergraduate degree in accounting and wish to complete the
educational requirements to become a CPA in Florida. The Graduate
Certificate in Accounting consists of 12 semester hours in
graduate level accounting (or tax) classes (other than ACC
600, ACC 607, ACC 608, ACC 670, ACC 671, , and ACC 673 which
are for MBA non-accounting students). The Graduate Certificate
in Taxation consists of 12 semester hours in graduate level
tax or accounting classes of which at least 9 semester hours
are in taxation.
Applicants for the Graduate Certificate in Accounting or
Certificate in Taxation must have an overall undergraduate
GPA of 3.0, a GPA of 3.0 or higher for upper division (300-level
and above) accounting courses, and completed all of the requirements
for an undergraduate accounting major before beginning to
take graduate classes. Students who have taken their undergraduate
accounting classes at an accredited school other than the
University of Miami will be evaluated on an individual basis
(and may need a higher GPA to meet our admission standards).
Students meeting these requirements are not guaranteed admission.
Admission and class availability will be handled on a space-available
basis with students already enrolled in our MAcc or MST programs
receiving priority.
Students must satisfy all prerequisites for classes they
wish to take. Students can choose to take less than four courses
under this program; however, they must complete 12 semester
hours in graduate accounting or tax classes at UM to receive
a certificate. Students wishing to take more than 12 semester
hours of graduate accounting or tax classes would have to
apply and be admitted to the Master of Accounting or the Master
of Science in Taxation program before taking any additional
courses. Students with a 3.25 or better GPA in the graduate
accounting courses can have these courses count for both the
Certificate and the Master’s program so that students
could move into one of the Master’s degree programs
with no loss of credits.
Educational Requirements to Sit for The CPA Exam
Most of our students intend to become qualified as Certified
Public Accountants (CPA). While the CPA exam is a national
exam administered by the American Institute of Certified Public
Accountants, its execution and licensing practices are governed
by state law. For example, some states require a certain number
of credit hours in particular subjects and have overall accounting
and business credit hour requirements. As such, you should
check with the state in which you intend to practice to determine
what the specific course requirements are for that state.
Note, our department is unable to make a determination of
your eligibility to sit for the CPA exam. This can only be
done by the appropriate state board. The licensure requirements
for the State of Florida can be viewed at: http://www.myfloridalicense.com/dbpr/cpa/licensure.html.
For your convenience, the Florida rules that apply to most
individuals are summarized here. Please check the State of
Florida Web site noted above for updates and rules which may
apply in particular circumstances.
As of July 1, 2008 the Florida State Board of Accountancy
(BOA) separated the requirements to become a Certified Public
Accountant (CPA) into two parts: (1) the requirements to be
eligible to take the CPA exam and (2) the requirements for
licensure to practice as a CPA in Florida..
Requirements to Sit for the CPA Exam: To
be eligible to take the CPA exam, you must have completed
120 semester hours including 24 semester hours of accounting
(auditing, cost and managerial accounting, financial accounting,
accounting information systems, and taxation) at the upper
division level (300-level or above) and 24 semester hours
in general business courses (including at least 6 semester
hours of business law courses). One course can be at a lower
lever (freshman or sophomore), the other course must be upper
division (junior level or higher). The exam is offered in
the following time periods; January – February, April
– May, July – August and October – November.
Note you do not have to have a bachelor’s degree in
order to sit for the CPA exam.
Requirements for Licensure: In addition
to passing all four parts of the CPA exam with at least a
75% within 18 month rolling period, the BOA requires that
you have completed a bachelor’s degree plus an additional
30 hours for a total of 150 semester hours before you can
become licensed as a CPA. One year of work experience under
the supervision of a licensed CPA is now also required to
become licensed. (This experience may be obtained before or
after sitting for the exam, however, all requirements to sit
for the exam must be met before the work experience commences.)
If you fail to apply for licensure within three years of receiving
the licensure package, (sent after you pass all four parts)
the CPA grades expire and you have to retake the examination.
The 150 semester hours must include a minimum of 36 semester
hours of accounting courses and at least 39 semester hours
of general business courses. Excess upper division accounting
courses may be used to meet the general business requirement.
Courses for non-accounting majors and any MBA courses that
are equivalent to elementary accounting are not accepted for
this requirement.
Licensed in Another State: If you are licensed
in a state other than Florida you can obtain a license in
Florida by a process called endorsement. You must provide
evidence of meeting all of the requirements in effect at the
time of your application. In addition if you passed the exam
more than two years before applying you must provide evidence
of meeting continuing professional education requirements.
Accreditation
The Board accepts degrees from schools accredited by the following
associations : Middle States Association, New England Association,
North Central Association, Northwest Association, Southern
Association of Colleges and Schools, Western Association of
Schools and Colleges, Association of Independent Schools and
Colleges who have been approved by the Florida State Board
of Independent Colleges and Universities, and Canadian Schools
who have been approved by their provincial educational bodies.
If you have graduated from a school or college which is not
accredited by the above mentioned means, then you must use
the provisions of F.A.C. 61H1-27.001 (5) (see below).
Applicants Who Have Graduated from Non-Accredited
Schools (61H1-27.001) (5)
Applicants who have graduated from a non-accredited school
may still qualify to sit for the CPA examination. The candidate
must take 15 semester hours of graduate classes. Those must
consist of at least nine hours of graduate level accounting
courses including a minimum of three semester hours of graduate
tax. THESE HOURS MUST BE TAKEN AFTER ADMISSION TO GRADUATE
SCHOOL. If the courses are taken before admission to a graduate
program, the classes will not be accepted, even if the school
includes them as part of the graduate program. These courses
cannot duplicate other courses which the applicant has taken
and they cannot be used to accredit the non-accredited degree
and satisfy the educational requirements. The applicant must
complete the graduate school courses to validate the non-accredited
degree. The applicant must also meet all other requirements
for endorsement or transfer of credit. An evaluation of foreign
transcripts must be completed by an evaluation service which
has been approved by the Board (see Board Approval Evaluation
Services).
Duplicate Courses
No credit will be given for courses which duplicate another
course for which the applicant has received credit. Review
courses are considered as duplicates.
For the CPA requirements in other states, you should consult
the State Board of Accountancy for your state.
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