College of Business and Innovation

MSAMSA

Master of Science in Accountancy

Thank you for considering The University of Toledo College of Business and Innovation to pursue your MSA!

 

Master of Science in accountancy

/business/

Academic Support Services

Contact Us

Graduate Programs Office
Stranahan Hall Suite 1016
419.530.5680 (Phone)
419.530.8498 (Fax)
COBIGradPrograms@Utoledo.edu
Office Hours:
M-T: 8:30AM-5PM
F: 8:30AM-4PM

Dean's Office
Stranahan Hall 5017
419.530.2558
419.530.7744 (Fax)
CoBusiness@UToledo.edu

The objective of the Master of Science in Accountancy (MSA) degree program is to provide an opportunity for students to achieve greater breadth and depth in the study of Accountancy than is possible in the baccalaureate program. The MSA program gives student the advanced skills to be a successful accountant and business leader. Skills such as critical and analytical thinking, leadership, teamwork, effective communication, and the ability to deal with big data and data analytics are important skills for short and long-term career success in a dynamic environment. The MSA program is also designed to fulfill the requirements to sit for the Uniform CPA Exam in the state of Ohio and other states.

Nationwide, the CPA candidates who qualify to sit for the CPA exam with an MSA degree have the highest pass rates. The CPA exam pass rates over the last 14 years, for which data is available, supports this fact.

New York Times economics reporter Catherine Rampell indicated in her article on February 19, 2013 that the college bachelor's degree is becoming the new high school diploma. Further, it's necessary to distinguish yourself in the job market in order to remain competitive for career advancement. A Master's degree will provide you with an advantage over those without graduate degrees when seeking promotions or applying for advance positions. 

The IMA 2014 Salary Survey showed that in 2014 the median salary for respondents with Master’s degrees is $19,750 (22%) higher than the median salary for respondents with bachelor degrees and $15,604 (18%) higher in 2013 (http://www.imanet.org/docs/default-source/salary-survey/us.pdf?sfvrsn=4).

AACSB Accreditation
The department of accounting is accredited by the Association to Advance Collegiate Schools of Business, International (AASCB). This prestigious accreditation places our department among the top 2 percent of accounting departments worldwide!
AACSB logo

Federation of Schools of Accountancy
The Accounting department is a full member of the Federation of Schools of Accountancy (FSA). The FSA promotes "the development of high quality accredited programs of education for the accounting profession that lead to a graduate degree."
FSA logo

CPA Passing Rates
The CPA exam pass rates for our accounting MSA students exceeded the U.S. and Ohio averages for the past 10 years.

Outstanding Placement Rate
Within a year of graduation, approximately 100 percent of our master of accountancy students and 95 percent of our undergraduate accounting students find placement.  UT MSA graduates are also highly sought after in the job market and report an average salary of $50,000. Our graduates have been hired by recognizable local and national accounting firms such as CliftonLarsonAllen, Ernst & Young, Gilmore Jasion Mahler, Plante Moran, PriceWaterhouseCoopers, Rehmann, and UHY well as corporate entities including The Andersons, Marathon Petroleum, Owens Corning, and Owens-Illinois.

Small Class Sizes
Our small class sizes enhance learning environment through individual attention to every student.

Dedicated Faculty
The accounting faculty are very committed to being educators and mentors to their students. The scholarly activities of the accounting faculty include publications in top-tier accounting journals. Many accounting faculty received research and teaching awards.

Flexibility
The MSA program offers live and distance learning courses that accommodate students’ needs. The program can be completed in nine months of full-time study. Students may also be enrolled on a part-time basis.

Affordable Education
We pride ourselves on offering students a high quality, affordable education. Qualified students may be eligible for financial aid and graduate assistantships.

State of the Art Accounting Lab
The Alan Barry Accounting Lab is the only accounting lab in the nation, to our knowledge, that has a lab licenses for CPA or CMA review material that is free for students. The lab also has software to help students improve their accounting and writing skills.

Alan Barry Workshop Series
We offer free workshops in Excel, Writing, Data Visualization, and QuickBooks to equipped students with different skills need for the job market.

Real World Issues
The MSA program gives students the opportunity to use various aspects of analytical accounting skills to analyze real-world problems.

The University of Toledo (UT) programs leading to licensure and/or advanced practice certification/endorsement, whether delivered online or face-to-face, satisfy the academic requirements for those credentials set forth by the State of Ohio. To read more about this please visit this page.

The MSA program reviews applications on an individual basis looking at both quantitative and qualitative aspects of an applicant's professional and academic background. The committee seeks to assess an individual's potential for academic success and future professional growth. Applicants are considered for admission on the basis of the following criteria: 

  1. A 3.0 undergraduate GPA on a 4.0 scale, and if accounting major student must have 3.0 GPA in major.
  2. A minimum score of 500 on the Graduate Management Admissions Test (GMAT) with a minimum score of 20 in both the verbal and quantitative sections.
  3. Passed the CPA/CMA exam within the last five years, or active CPA/CMA.

The admissions process is:

Step 1: Complete the required materials and submit the application fee to the College of Graduate Studies.  You can apply and submit most documents on-line via the College of Graduate Studies application page  (https://apply.utoledo.edu).

Step 2: Register to take the Graduate Management Admission Test (GMAT) if you are a non-UT students. The GMAT may be waived for applicants who have earned a:*

  • Undergraduate degree from UT (minimum 3.00 GPA) within the last ten years, or
  • MBA or Masters is economics (minimum 3.00 GPA) within the last ten years, or
  • Active CPA/CMA, or passed the CPA/CMA exam within the last five years

*Contact the College of Business and Innovation Graduate Programs Office regarding GMAT waivers.

The University code for the GMAT/GRE/TOEFL is 1845. The test is given throughout the year. GMAT testing sites and information can be obtained from:

Applicants who have taken the exam within the last five years should request the GMAT testing center or GMAT Customer Service in your region to send official scores to:

  • The College of Graduate Studies (MS 933)
    The University of Toledo 
    Toledo, OH 43606-3390
    Note:
  • The MSA program will accept a GRE test score equivalent to the acceptable GMAT      test score (http://www.ets.org/gre/).
  • Scores older than five years will not be considered.

Step 3: Send one official transcript from each educational institution attended (other than The University of Toledo) showing degree attained. Transcripts should be mailed directly to:

  • The College of Graduate Studies (MS 933)
    The University of Toledo 
    Toledo, OH 43606-3390

Step 4: Most recent resume or curriculum vitae including contact information for two references (name, title, place of employment, phone number and e-mail address). This can be uploaded to the College of Graduate Studies application page (https://apply.utoledo.edu).

Step 5:  If you would like to be considered for an assistantship, submit a completed Assistantship Application, to the COBI Graduate Programs Office.

Step 6:  In the case of students whose native language is not English, a score of at least 550 (paper based), 213 (computer based), or 80 (internet based) on the Test of English as a Foreign Language (TOEFL) or a 6.5 on The International English Language Testing System (IELTS)

 Please note

  1. TOEFL test scores cannot be older than 2 years from the first day of the term that the student begins their program. In the event test scores are considered invalid and cancelled by ETS, The University of Toledo reserves the right to require submission of new test scores. Please contact the College of Graduate Studies if you have questions regarding this.

TOEFL application forms may be requested from:

Application Deadlines

Below are the application deadlines. However, early application is encouraged.

Domestic   Students

 

International   Students

Fall semester admissions August   1 

 

Fall semester admissions May   1 

Spring semester admissions November   15 

 

Spring semester admissions October   1 

Summer semester admissions April   15 

 

Summer semester admissions March   1 

Note: For international students additional time is required to complete immigration documents. For example, materials received after May 1 could result in a delay for a Fall admission.

All documents should be sent to the College of Graduate Studies: 
The University of Toledo 
College of Graduate Studies 
2801 W. Bancroft St., MS 933 
Toledo, OH 43606

The Master of Science in Accountancy (MSA) is a 30 semester hours program (10 courses) beyond the baccalaureate level. The general MSA program is designed to prepare students for a professional career in accounting and to fulfill the requirements to sit for the uniform CPA exam in the state of Ohio (university students in Ohio wishing to become a CPA must earn an accounting baccalaureate degree and also take an additional 30 semester hours of coursework to meet the "150 hour" requirement). Students can choose between the general MSA program or any of the specialized tracks specified below. These tracks provide an opportunity for the MSA students to choose their focus areas.

MSA Core Courses (Required Of All MSA Students): 12 Hours (4 Courses)

  • ACCT 6130 External Financial Reporting III*
  • ACCT 6190 Financial Contemporary Problems
  • ACCT 6210 Research in Accounting and Taxation
  • OSCM 6250 Essentials of Business Analytics

MSA Elective Courses for The “General MSA” And The “Specialized MSA Tracks”: 18 Hours (6 Courses) - At Least 12 Credit Hours (4 Courses) Of Accounting Electives.

The course lists below illustrate the wide range of focus areas based on the available electives. Students are not required to have a specific declared "focus area" and may have more than one focus area. The information below simply provides students with some possible focus areas available to them to support their academic and career goals and growth. It is recommended that students have a portfolio approach to plan their MSA program. This portfolio should have 12 credit hours (4 courses) of accounting electives.

GENERAL MSA

  • MSA 4 Core Courses (12 hours) above required of all MSA students
  • Accounting Elective Courses - 12 hours (4 courses):
    • ACCT 6150          International Accounting and Taxation
    • ACCT 6250          Taxation of Business Entities*
    • ACCT 6310          Advanced Managerial Accounting
    • ACCT 6330          Advanced Topics in Accounting Information Systems 
    • ACCT 6410          Governmental & Not-for-Profit 
    • ACCT 6430          Business Valuation
    • ACCT 6440          Advanced Auditing
    • ACCT 6450          Fraud and Forensic Accounting 
    • ACCT 6960          Independent Study In Accounting: Advanced CPA Studies    
    • Business Electives – 6 hours (2 courses):
    • Two graduate business courses.

SPECIALIZED MSA TRACKS

AUDITING & IT TRACK

  • MSA 4 Core Courses (12 hours) above required of all MSA students
  • Accounting Electives (12 hours) – Choose 4 courses from the following:
    • ACCT 6410          Governmental & Not-for-Profit 
    • ACCT 6440          Advanced Auditing
    • ACCT 6450          Fraud and Forensic Accounting  
    • ACCT 6330          Advanced Topics in Accounting Information Systems 
    • ACCT 6960          Independent Study In Accounting: Advanced CPA Studies
  • Business Electives (6 hours) – Choose 2 course from the following:
    • INFS 6150             Business Intelligence Management
    • INFS 6610             Information Storage and Retrieval Structure  
    • INFS 6710             Management of Information Systems Security.

FINANCIAL REPORTING AND FINANCE TRACK

  • MSA 4 Core Courses (12 hours) above required of all MSA students
  • Accounting Electives (12 hours) – Choose 4 courses from the following:
    • ACCT 6150          International Accounting and Taxation
    • ACCT 6250          Taxation of Business Entities*
    • ACCT 6310          Advanced Managerial Accounting
    • ACCT 6410          Governmental & Not-for-Profit
    • ACCT 6430          Business Valuation
    • ACCT 6960          Independent Study In Accounting: Advanced CPA Studies
  • Business Electives (6 hours) – Choose 2 course from the following:
    • BUAD 6200          Corporate Finance
    • FINA 6130            Advanced Corporate Finance
    • FINA 6140            Investments and Security Analysis
    • FINA 6340            Derivative Securities

STRATEGIC MANAGERIAL ACCOUNTING AND OPERATIONS MANAGEMENT TRACK

  • MSA 4 Core Courses (12 hours) above required of all MSA students
  • Accounting Electives (12 hours) – Choose 4 courses from the following:
    • ACCT 6150          International Accounting and Taxation
    • ACCT 6310          Advanced Managerial Accounting
    • ACCT 6330          Advanced Topics in Accounting Information Systems
    • ACCT 6410          Governmental & Not-for-Profit* 
    • ACCT 6430          Business Valuation
    • ACCT 6960          Independent Study In Accounting: Advanced CPA Studies
  • Business Electives (6 hours) – Choose 2 course from the following:
    • BUAD 6200          Corporate Finance
    • BUAD 6600          Supply Chain Management
    • INFS 6150             Business Intelligence Management
    • OPMT 6680          Total Quality Management and SPC 
    • OPMT 6690          Manufacturing Resources Management 

* For students who have taken these classes previously as a UT undergraduate or an equivalent course (check with your advisor) somewhere else and received a C (2.0) or better, these courses may not be taken at the graduate level. Students must take a total of ten courses beyond the MSA Common Body of Knowledge.

MSA Common Body of Knowledge 
0 - 30 hours, 0 - 10 classes 

The common body of knowledge required for the MSA program includes a maximum of 30 hours (or 10 classes).  Based on the candidate's prior course work, any or all of the common body of knowledge may be waived:

  • ACCT 5000                Financial and Managerial Accounting 
  • ACCT 3110                External Financial Reporting I * 
  • ACCT 3120/5120       External Financial Reporting II * 
  • ACCT 3210                Individual Taxation *
  • ACCT 3310                Accounting Information Systems and Controls* 
  • ACCT 3320/5320       Internal Reporting* 
  • ACCT 4420/5420       Auditing* 
  • FINA  5210                 Economics for Business Decisions
  • FINA  5310                 Managerial Finance
  • OSCM 5510                Bus. Stats w/Computer Apps

*Students must have an average GPA of 3.0 or higher in the common body of knowledge courses in order to proceed into 6000 level accounting classes.

Click here to see the Curriculum Flow Chart.

Click here to view the College of Graduate Studies scholarship information.

GENERAL
How long does it take to complete the MS program?
What are the academic credentials of admitted MS students?
What is the demographic breakdown of current MS students?
What is the approximate cost of the MS program?
How is a graduate program different from an undergrad program of study?
How do the classes in the MS program align with the information tested on the CPA exam?
What is the difference between MBA and MSA?

APPLYING
When are the deadlines to apply?
How long will my application remain valid?
Where should I send my transcripts and other documents?
How many hours do I need to take to be a full-time student?
Can I enroll part-time?
Are interviews part of the application process?
Can I check my application status over the telephone? 
How long does it take to get a response?

GMAT/GRE
Which test is preferred?  The GMAT or the GRE?
What is the minimum GMAT score considered?
What school code should I use for the GMAT?
Can I take the GRE instead of the GMAT?
I am a UT student. Am I required to take the GMAT?

INTERNATIONAL STUDENTS
What are the minimum TOEFL scores considered for international students?
What school code should I use for the TOEFL?
When should I send my financial proof?
Does the MSA program grant international students with “Conditional Admissions”?

SCHOLARSHIPS AND GRADUATE ASSISTANTSHIP
Will I be offered a scholarship?
Do I need to apply for the scholarships?
What is a graduate assistantship? 
Does a graduate assistantship cover tuition cost?
What are the minimum requirements to be considered for a graduate assistantship?
I am a UT student. Do I need to take the GMAT/GRE to be considered for the graduate assistantship?
When do I apply for a graduate assistantship?

CONTACT
Where can I schedule an inquiry appointment?

GENERAL

How long does it take to complete the MSA program?
Most students complete the program 9 -12 months.

What are the academic credentials of admitted students?
The average undergraduate GPAs for the MSA students were a 3.45 overall and a 3.32 in their accounting program, and their average GMAT score was 540 for the period 2009-2015.

What is the demographic breakdown of current MSA students?
The average for years 2009 through 2015 is made up of 53% UT undergraduate students, 20% undergraduates from other domestic universities, and 27% international students.  On average, the MSA program is composed of 61.9% female and 38.1% male students.

What is the approximate cost of the MSA program?
The cost of the MSA program is the same as the MBA program. Please click the below link for the cost (http://www.utoledo.edu/offices/treasurer/finance_brochures.html).

How is a graduate program different from an undergrad program of study?
The curriculum in a graduate class focuses on the application of knowledge through in class discussion, group projects, and written based assignments.

How do the classes in the MS program align with the information tested on the CPA exam?
Through the core and elective accounting classes offered, you will get more in-depth exposure to the various fields tested on the CPA exam which many undergraduate programs do not have time to cover.

What is the difference between MBA and MSA?
MBA programs focus on general business areas. MBA degrees are a good choice for students looking to broaden their knowledge of general business theory. MSA programs help students develop skills to become highly educated and trained accountants with general business knowledge.

APPLYING

When are the deadlines to apply?
Below are the application deadlines; however, early applications are encouraged.

Domestic   Students

 

International   Students

Fall semester admissions August   1 

    

Fall semester admissions May   1 

Spring semester admissions November   15 

    

Spring semester admissions October   1 

Summer semester admissions April   15 

    

Summer semester admissions March   1 

Note: For international students additional time is required to complete immigration documents. For example, materials received after May 1 could result in a delay for a Fall admission.

How long will my application remain valid?
An application for admission is good for one year beyond the initial application date.

Where should I send my transcripts and other documents?
Our application system is on-line. We do not accept any documents sent to the accounting department. Any documentation received will not be considered part of your application.  Please send any transcripts to:

The University of Toledo 

The College of Graduate Studies
2801 W. Bancroft St., MS 933
Toledo, OH 43606-3390

How many hours do I need to take to be a full-time student?
A student carrying 9 credit-hours in a fall or spring semester is considered a full-time student.

Can I enroll part-time? 
Yes, you can enroll as a part-time commitment.

Are interviews part of the application process?
No interview is required.

Can I check my application status over the telephone? 
No, for purposes of confidentiality, we will not give information regarding your application status via telephone or e-mail. An e-mail acknowledging receipt of your application will be sent to you at the time you submit your application on-line. A letter from the College of Graduate Studies will be sent to you with the admission decision.  However, you may check the status of your application via the on-line application portal.

How long does it take to get a response about my application?
It takes two weeks, on average, after your application is complete.

GMAT

Which test is preferred?  The GMAT or the GRE?
The MSA Program will accept a test score report from either the GRE or the GMAT. Preference to one exam is not given over the other

What is the minimum GMAT score considered?
We admit applicants with a minimum GMAT score of 500.  Our average GMAT score is 540.

What is the minimum GRE score?
The minimum GRE score 297 and our average is score is 310.

What school code should I use for the GMAT/GRE?
The university code for the GMAT, GRE, and TOEFL is 1845.

I am a UT student. Am I required to take the GMAT?
The GMAT may be waived for applicants who have earned a:

  • Undergraduate degree from UT (minimum 3.00 GPA) within the last ten years, or
  • MBA or Masters in economics (minimum 3.00 GPA) within the last ten years, or
  • Active CPA/CMA, or passed the CPA/CMA exam within the last ten years

*Contact the College of Business and Innovation Graduate Programs Office regarding GMAT waivers.

INTERNATIONAL STUDENTS

What are the minimum TOEFL scores considered for international students?
In the case of students whose native language is not English, a score of at least 550 (paper based), 213 (computer based), or 80 (internet based) on the Test of English as a Foreign Language (TOEFL) or a 6.5 on The International English Language Testing System (IELTS)

Please note:

  1. Test scores for TOEFL cannot be older than 2 years from the first day of the term that the student begins their program.
  2. We do not accepting IELTS as a form of English language proficiency.

What University code should I use for the TOEFL?
The University code for the TOEFL is 1845.

When should I send my financial proof?
It is recommended that financial proof is sent once accepted into the program.

Does the MSA program grant international students with “Conditional Admissions?”
No. The MSA program does not grant international students “Conditional Admissions.” 

SCHOLARSHIPS AND GRADUATE ASSISTANTSHIP     

Will I be offered a scholarship?
While funding is not guaranteed, we offer some merit scholarship for outstanding students.

Do I need to apply for the scholarships?
No.  Students with a minimum GPA of 3.7 will automatically be assigned the merit scholarships when funding is available.

What is a graduate assistantship? 
Graduate Assistants (GAs) will work with a faculty member in one of the COBI departments, assisting with research, class preparation, and special assignments.

Does a graduate assistantship cover tuition cost?
A full graduate assistantship includes a tuition waiver for three classes each Fall and Spring, 20 hours of work per week on campus, and a stipend. A half graduate assistantship includes a tuition waiver for two classes each Fall and Spring, 10 hours of work per week on campus, and a stipend. Most GA awards do not cover Summer semesters. All GA awards include approval to purchase faculty/staff parking permits.

What are the minimum requirements to be considered for graduate assistantship?
The minimum requirements to be considered for a full GA award are an undergraduate GPA of 3.0 or higher, and a GMAT/GRE score of 500/297 or higher. Scoring well on the GMAT/GRE is the best way to increase the likelihood that you will be selected for a GA award.

I am a UT student. Do I need to take the GMAT/GRE to be considered for the graduate assistantship?
No. UT accounting students with a minimum GPA of 3.0 can be considered for half GA without GMAT/GRE. However, to be considered for a full graduate assistantship you need a minimum GMAT/GRE score of 500/297.

When do I apply for graduate assistantship?
We offer graduate assistantship as decisions are made. The deadline for application is March 1st each year.  However, early applications will be considered. Applications to the MSA program must be completed by March 1st in order to qualify for a graduate assistantship.

CONTACT

Where can I schedule an inquiry appointment?
Darlene Evans

Assistant Director, Graduate Programs
College of Business & Innovation

Graduate Programs Office
Stranahan Hall Suite 1016
419.530.5680 (Phone)
419.530.8498 (Fax)
COBIGradPrograms@utoledo.edu

Dr. Hassan HassabElnaby
Professor and Chair, Department of Accounting
MSA Director
College of Business & Innovation
(419) 530-2780
Hassan.HassabElnaby@utoledo.edu

Each year the College of Business and Innovation (COBI) offers Graduate Assistantships to MBA students with a history of academic excellence. We are only able to offer Graduate Assistantship (GA) awards to a very small percentage of applicants, so being selected is a great privilege.

Typically, Graduate Assistants will work with a faculty member in one of the COBI departments, assisting with research, class preparation, and special assignments. Some Graduate Assistants will also be placed in the Office of Student Retention and Academic Success, EMBA Program, COBI College Computing Office, COBI Graduate Programs Office, and the Business Career Programs Office.

A full GA includes tuition waiver for 3 classes each Fall and Spring, 20 hours of work per week on campus and a stipend. A half GA includes tuition waiver for 2 classes each Fall and Spring, 10 hours of work per week on campus, and a stipend. Most GA awards do not cover Summer semesters. All GA awards include approval to purchase faculty/staff parking permits.

The deadline to apply is March 1st each year, however early applications will be considered. The minimum requirements to be considered for a full graduate assistantship (GA) award are an undergraduate GPA of 3.0 or higher, and a GMAT score of 500 or higher. Scoring well on the GMAT is the best way to increase the likelihood that you will be selected for a GA award. UT accounting students with a minimum GPA of 3.0 can be considered for half GA without GMAT/GRE.

You must do the following by March 1st to be considered for an award:

  • Submit all program application materials to the College of Graduate Studies
  • Submit a complete Assistantship Application, and a one page resume, to the COBI Graduate Programs Office.
  • Send an electronic copy of your resume to COBIGradPrgms@utoledo.edu.

Graduate Assistantship awards will be announced as decisions are made and in late April or early May

Department Chair
Dr. Hassan HassabElnaby
(419) 530-2780
Hassan.HassabElnaby@utoledo.edu
http://homepages.utoledo.edu/hhassab/

Darlene Evans
Graduate Programs Office
Stranahan Hall Suite 1016
419.530.5680 (Phone)
419.530.8498 (Fax)
Darlene.Evans@utoledo.edu

Secretary:
Susan Welch
(419) 530-2277
Susan.Welch@utoledo.edu

Department of Accounting
Stranahan Hall Room 3041
College of Business and Innovation
The University of Toledo
2801 West Bancroft St.
Toledo, Ohio 43606-3390
(419) 530-2277  Department Office
(419) 530-2873  Department Fax

 

Last Updated: 9/12/17