Accounting Curriculum for the Master in Accounting Program

Loyola's accounting program is accredited by Association to Advance Collegiate Schools of Business (AACSB-International). The Association is the only agency that accredits accounting programs in the United States and only 181 of the 694 AACSB business accredited programs around the world have a separate accreditation for Accounting*.

Loyola's accounting program is among the best in the nation, achieving 8th best performance in our enrollment category in 2012 according to the National Association of State Boards of Accountancy (NASBA). Fifty one candidates with Loyola bachelors-level degrees presented themselves as first-timers for one or more of the four sections of the CPA exam. The pass-rate was 74.5%, the highest among all first-timers with bachelor's degrees from any Maryland institution.

Obtaining the CPA credential provides many high quality employment options for students, including careers in public, corporate, managerial, and government accounting, corporate finance, consulting, non-profit management, and law enforcement. The Sellinger School's Master of Accounting (MAcc) program provides a clear path to both a master level credential and requisite credit hours to be licensed. The MAcc is a 10 course, 30 credit-hour cohort program designed to enhance students':

  • Technical accounting skills
  • Verbal and written communication skills
  • Ability to engage in sound, ethical decision-making

MAcc curriculum highlights include:

  • Expanded knowledge and deep grounding in technical skills, as well as opportunities to apply skills through integrative cases within courses.
  • Curriculum design that increases the rate of learning, motivation and commitment to excellence through a cohort-style learning environment.
  • Experiential learning via opportunities for students to obtain paid, full-time internships in the spring semester, accountants' busiest time of year.
  • Advanced study in the major areas of accounting (financial, managerial, information systems, auditing, and taxation), as well as in the supporting field of finance
  • Content delivery embedded with concern for ethical decision making.
  • Co-curricular opportunities:
       (1) Link students to accounting professionals (e.g., mentoring)
       (2) Enhance students' technical skills (e.g., advanced training in Excel)
       (3) Make graduates career ready (e.g., advanced training in presentation skills)

Design/Delivery

The program is a lock step cohort full time program. Classes will be offered in 3 hour blocks, over a 12-week semester (Summer – 12 credits, Fall – 12 credits, Spring – 6 credits). A sample academic year outline is below. The program will be completed in a 12-month period. 

Fall
15 week term
Spring
15 week term
Summer
12 week term 
AC 701
Accounting in an 
International Context
 

AC 703
Performance Measurement and
Strategic Cost Management

 
AC 700
 

AC 711 
Seminar in Accounting Practice

or

Free Elective 

For more information on Loyola's MAcc program, contact us at 410-617-5067 or macc@loyola.edu. One of our advisors will be glad to speak with you.

Course Descriptions

AC 700 Ethics and Social Responsibility for Accountants (3.00 cr.)

Prerequisite: Restricted to MAcc students. 

This course has two primary objectives: to provide a practical, action-oriented approach to business ethics that helps individuals who work in corporations and organizations decide what to do when they are faced with an ethical dilemma, and to explore modern corporate social responsibility—an approach to management that guides organizations beyond creating an ethical environment in the workplace. While pursuing these objectives, students study alternative perspectives on a wide range of contemporary business issues through readings and case studies. Ultimately, students see the extent to which ethics and moral and social responsibilities are intertwined. The course emphasizes verbal and written communication skills, and professional judgment expected of leaders.

MAcc students will use Writing That Works: Communicating Effectively on the Job (Oliu, Brusaw & Alred) and The Exceptional Presenter: A Proven Formula to Open up and Own the Room (Koegel) throughout the MAcc program.

AC 701 Advanced International Accounting (3.00 cr.)

Prerequisite: Restricted to MAcc students. 

This course examines the international dimensions of accounting, including topics such as International Financial Reporting Standards (IFRS), corporate financial reporting and convergence, and international financial statement analysis. 

Students will study Convergence Guidebook for Corporate Financial Reporting  (Pounder).

AC 702 Advanced Financial Accounting (3.00 cr.)

Prerequisite: Restricted to MAcc and graduate accounting certificate students. 

This course focuses on advanced topics related to the stockholder’s equity and cash flow statements. These topics include dilutive securities, accounting for pensions, accounting error analysis, and equity method conversions. Closed to students who have taken the course as a topic under GB763. (Summer only)

AC 703 Performance Measurement and Strategic Cost Management (3.00 cr.)

Prerequisite: Restricted to MAcc students. 

This course teaches graduate students how accounting is used to support decision-making, planning, control, and performance measurement within organizations.

AC 704 Tax Research (3.00 cr.)

Prerequisite: Restricted to MAcc students. 

This course provides in-depth electronic accounting, auditing, and tax research. The course emphasizes use of databases, practice in issue identification, reading and analyzing primary authority, and communicating results.

AC 705 Advanced Accounting Information Systems (3.00 cr.)

Prerequisite: Restricted to MAcc and graduate accounting certificate students. 

This course is designed to provide a detailed study of integrated components within an accounting information system. A thorough of current issues that pertain to information technology is conducted. Students utilize the database approach to design and develop a complex system of storing and retrieving data. Closed to students who have taken the course as a topic under GB768. (Summer only)

AC 707 Government and Non-profit Accounting (3.00 cr.)

Prerequisite: Restricted to MAcc students. 

This course focuses on the accounting and financial reporting issues of governmental units, not-for-profit organizations, colleges and universities, and some health care entities. The course covers fund accounting and financial reporting for state and local units under GASB Statement No. 34 and not-for-profit accounting principles.

AC 708 Advanced Finance (3.00 cr.)

Prerequisite: Restricted to MAcc students. 

At the completion of the course, the student will: 1) Apply financial accounting metrics to the valuation of firms in the capital markets. 2) Understand the interrelationships among financial statements, stock options, and derivatives.

AC 709 Internship (3.00 cr.)

Prerequisite: Restricted to MAcc students. 

Students will work full-time for an accounting firm, company, government agency, or not-for-profit organization. 

AC 710 Professional Communication (3.00 cr.)

Prerequisite: Restricted to MAcc students. 

This course provides accountants the practical skills necessary to communicate in a professional manner and to do so effectively, including key elements of effective presentations, effective writing and speaking skills, interviewing skills from the interviewer’s perspective, and special considerations for technology-assisted forms of communication and documentation. (Summer only)

AC 711 Seminar in Accounting Practice (3.00 cr.)

Prerequisite: Restricted to MAcc students. 

An overall analysis and review of the American Institute of Certified Public Accountant’s (AICPA) Content Specification outlines. Study includes financial accounting and reporting, regulation, auditing and attestation, and business environment and concepts. (Spring only)

CPA Review material for AC 711

Loyola's MAcc program is proud to partner with Becker CPA Review earning a strong track record of student success through superior teaching, curriculum and learning tools that enable students to develop the knowledge and performance skills necessary to pass their exams.

The primary program goal is to have all members of each class complete and pass all parts of the CPA exam before they start work.  To do this, we offer a recommended schedule as to when to do your review and sit for the exams.

  • December/January – review for BEC, schedule BEC exam
  • January/February – sit for BEC exam
  •  March - schedule Audit, FAR & REG exams
  • April/May – review for Audit
  • May – sit for Audit exam
  • June – review for REG
  • Beginning of July – sit for REG
  • July/August – review for FAR
  • August – sit for FAR

To meet this goal we offer CPA exam review resources available to all students (required in AC 711).

Students accepting offers from firms paying for CPA exam review:

When you accept an offer of employment, the firm or company may offer to pay for your CPA exam review materials.  Becker CPA Review is often the company of choice by several firms.  To help you successfully complete this review, we have coordinated with Becker to directly bill employers that offer this benefit (currently 80% of Loyola MAcc hiring firms).

Students accepting offers from firms not paying for CPA exam review or students without a job offer:

The MAcc will give these students a $600 allowance towards the cost of Becker CPA Exam Review materials (currently $3393).  The Program also offers two additional 50% scholarships per year available on a merit basis.  





As chair of the Accounting Advisory Board and a future employer of accounting students, I’m excited this new program will offer a clear path to completion of the 150-hour requirement, in addition to building a pipeline of very qualified CPAs for years to come.

-Christine Aspell, BBA & Partner, KPMG LLP

The new MAcc curriculum is focused on developing deeper technical, communication and decision making skills, providing graduates crucial tools for successful careers in public accounting and beyond.

-Bob Jirsa, BA '77, Partner, RSM US LLP

RSM has a long and very successful relationship with Loyola - supporting its programs, its faculty and staff, and its students. Over the years, we have recruited many of our most successful professionals from Loyola’s undergraduate and graduate programs. As a Loyola alumnus myself, I’m always proud when another Loyola student or alumnus joins the Firm.

-Robert J. Callens, '81, Partner, RSM US LLP

While earning a Masters will almost certainly qualify a student to earn his or her CPA license, the true benefit such programs provide comes from a truly increased depth of knowledge.

-John Peter Krahel, Ph.D., Assistant Professor of Accounting

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