MASTER OF ACCOUNTANCY

BUSINESS

2017-2018

MCAFEE SCHOOL OF BUSINESS

Available on the Jackson Campus

The MAcc Academic Program

The Master of Accountancy (MAcc) degree provides

advanced study in accounting for individuals interested in

careers in the accounting ﬁeld.

Program Emphasis

There are ten courses in the Union MAcc curriculum.

These courses are 3 semester hours of graduate credit each.

Six of these courses are accounting courses. The remaining

four courses are MBA courses. The accounting courses

are scheduled during the day according to the traditional

schedule. The MBA courses can be completed at night or

online. The entire 30-semester hour MAcc program can be

completed in one year.

The strength of the Union MAcc program is the qualiﬁed

faculty that serve our student body. Union’s business faculty

combine practical work experience with strong academic

backgrounds. This dual emphasis on practicum and

education provides a rich and relevant classroom experience

for our MAcc students. Faculty pursue innovative teaching

concepts while continuing to conduct and publish accounting

and business-related research.

Expected Outcomes

The MAcc program strives to develop the following

knowledge and skills in each student:

1. Advanced knowledge in the functional areas of

accounting.

2. Ability to utilize research skills in accounting.

3. Effective communication skills both written and oral.

4. Critical thinking and decision-making skills, as

supported by the appropriate analysis of advanced

accounting problems.

5. Ability to demonstrate and make personal and

business decisions based on values informed by the

Christian worldview.

Dual-Degree Program

A dual degree program is offered between the MBA and the

Master of Accountancy. The Master of Accountancy requires

twelve hours from the MBA program. Students in either the

MBA or the Master of Accountancy programs may elect to be

dually enrolled in both programs. Dual enrollment will allow

students to earn both degrees while counting 12 hours of MBA

coursework toward both degrees.

MASTER OF ACCOUNTANCY

Admission Information

Regular Admission Requirements

1. Ofﬁcial transcript(s) showing all course work, completion

of baccalaureate degree(s), and all graduate credit

previously attempted. Even if withdrawal occurred prior

to earning credits and even if those credits do not apply to

the current degree being sought, ofﬁcial transcripts must

be sent from each institution.

2. Completed application for the MAcc program, including

payment of a $25 application fee.

3. Submission of a recent (less than 5-years old) acceptable

score on the Graduate Management Admission Test

(GMAT) or the Graduate Record Examination (GRE). The

GMAT or GRE may be waived in the following situations:

a. MBA & MACC: A student who holds a graduate

degree earned from a regionally accredited college

or university at the discretion of the MBA/Master of

Accountancy Program Director. Additional information

may be obtained from the Program Director.

b. MBA: Students pursuing a dual-degree with the Doctor

of Pharmacy, the Doctor of Nursing Practice, the Master

of Science in Nursing, or the Master of Accountancy.

c. MACC: Union business majors possessing a 3.0 GPA.

4. The completion of 18 hours of prerequisite coursework is

required for regular or conditional admission to the MACC

program. These courses are PMACC 511, 513, 514, 515,

523, and 550. The prerequisite courses may be waived with

the completion of equivalent undergraduate or graduate

course work.

5. Immunization Record

Five-Year Program

Undergraduate Accounting majors may apply to the

MAcc program during the latter half of their junior year.

All regular admission requirements must be met except the

requirement to possess a bachelor’s degree. After admission

to the program, undergraduate students may take up to 9

hours of accounting courses that are required in the MAcc

while completing the B.S.B.A. The 9 hours of courses are

treated as regular undergraduate courses for both tuition

and ﬁnancial aid purposes. Courses taken after graduation

from the bachelor’s degree are charged at the normal MAcc

graduate rate. Students will not be required to complete the

MAcc before receiving the B.S.B.A.

BUSINESS

Conditional Admission Requirements

Applicants who do not meet the regular admission

requirements to the MAcc program may be admitted

conditionally at the discretion of the MAcc Director and the

Graduate Business Admissions Committee. Students seeking

conditional admission must apply in writing to the MAcc

Director for consideration. Students who are conditionally

admitted must attain regular admission within 6 hours of

graduate study having been completed with a minimum 3.0

grade point average, and the speciﬁc cause for conditional

admission having been removed.

Transfer of Credit

Graduate credit for courses earned at a regionally

accredited college or university or at a recognized foreign

college or university may be transferred to Union University

if the courses are essentially the same courses as those required

in the program. The maximum number of semester hours that

may be transferred to Union University and applied to the

MAcc degree is nine.

No grade less than “B” may be transferred. Courses taken

more than ﬁve years before beginning the MAcc program at

Union University will be considered on an individual basis.

Academic Suspension

A student enrolled in the MAcc program will be suspended

from the program upon earning three grades of “C” or below.

While suspended from the MAcc program, the student may,

in an effort to remove these grades, repeat those courses in

which a “C” or below has been received.

Graduation Requirements

A. Completion of 30 hours to include:

1. MACC 615, 616, 619, 624, 670

2. One of the following: MACC 612, 625, 650, 675, 684

3. 12 hours of MBA courses excluding MBA 613.

B. A minimum grade point average of 3.0 for the required

course of study.

Financial Information

There are three methods of payment for the program.

1. One-hundred percent of tuition expense for the entire

program before the ﬁrst night of class. Interest will be

assessed on the unpaid balance at the rate of 1.5% per

month.

2. The payment of tuition as billed monthly as a result

of courses registered. Interest will be assessed on the

unpaid balance at the rate of 1.5% per month.

3. FACTS payment plan. Please see details at

www.uu.edu/admissions/ﬁnancialinfo/facts/

4. Tuition reimbursement is offered by many employers.

The University allows the completion of the current

student schedule to meet eligibility requirements for

payment. Prompt payment is requested to prevent

interruption of registration.

5. All ﬁnancial information is subject to change without

notice.

Tuition is $575 per semester credit hour.

The following are non-refundable fees:

Application Fee: ................................................... $25

General Student Fee: .................................... $20/hour

Financial Assistance

Financial aid information for graduate students is available

on our website at http://www.uu.edu/ﬁnancialaid/graduate/.

Generally, graduate students may be eligible for Federal Direct

student loans or private alternative student loans, depending

on the program of study and the eligibility of the borrower.

Union University is also approved by the Department for

Veterans Affairs to offer educational beneﬁts to veterans,

reservists, and dependents of veterans who qualify for Veterans

Beneﬁts. Any person who qualiﬁes for VA Beneﬁts should

check with the Ofﬁce of Student Financial Planning as soon

as possible after acceptance into a graduate program.

Course Descriptions: Prerequisites

to the Master of Accountancy

(PMACC)

511. Cost Accounting (3)

Prerequisite: ACC 212.

A study of methods of accounting for materials, labor, and

factory overhead in job order and process cost systems.

513. Intermediate Accounting I (3)

Prerequisite: ACC 212.

Intensive review of the accounting process and ﬁnancial

statements with emphasis on the asset section of the balance

sheet.

514. Intermediate Accounting II (3)

Prerequisite: PMACC 513.

Corporation formation and changes in the equity structure

after formation. Topics include long-term investments, bonds,

earnings per share, and income recognition.

515. Taxation of Individuals (3)

Prerequisite: ACC 212.

The Internal Revenue Code as it affects individual income

tax returns.

BUSINESS

550. Accounting Information Systems (3)

Prerequisite: ACC 212 and CSC 105.

Principles and problems of accounting system design and

implementation. Organization for accounting control,

internal control procedures, and internal reports. Attention

given to computerized accounting systems and to traditional

information ﬂows.

523. Auditing and Assurance Services (3) F

Prerequisites: PMACC 514 and 550.

An examination of ethics in accounting practice, general

standards and procedures for a contemporary audit, audit

programs, and work papers.

Course Descriptions: Master of

Accountancy (MACC)

615. Advanced Accounting Theory (3) F

Prerequisite: ACC 313 / PMACC 513

This course is a study of the Financial Accounting Standards

Board pronouncements for general accounting use.

Emphasis is given to the interpretation of pronouncements

and applications in problem-solving settings as applied to

advanced topics in ﬁnancial accounting.

616. Advanced Information Systems (3) F

Prerequisite: ACC 350 / PMACC 550

This course explores systems planning, acquisition, delivery,

and monitoring from a risk and control perspective while

analyzing systems as processors of data for ﬁnancial reporting

and control of economic organizations.

670. Advanced Financial Accounting (3) S

Prerequisite: ACC 314 / PMACC 514

Accounting practices and theories for business combinations

and partnerships.

585. Special Studies in Accounting (1-4)

Group studies which do not appear in the department course

offerings. Context will be determined by need.

612. Advanced Managerial Accounting (3) W

Prerequisite: ACC 311 / PMACC 511

This course focuses on effective managerial accounting tools

to be used for decision making in business analysis including

strategic position analysis and value chain analysis.

619. Taxation of Corporation and Pass-Through Entities

(3) S

Prerequisite: ACC 315 / PMACC 515

This course focuses on the taxation of corporations and pass-

through entities including partnerships, S corporations, and

estates and trusts.

624. Internal Auditing (3) F

Prerequisite: ACC 423 / PMACC 523

This seminar examines internal auditing concepts and

proper internal controls for ﬁnancial reporting and business

operations along with compliance with applicable laws,

regulations, and policies.

625. Fraud Examination (3) W

An in-depth look at fraud detection, prevention, investigation,

management and resolution.

650. Governmental and Not-For-Proﬁt Accounting (3) W

Prerequisite: ACC 314 / PMACC 514

Operation of the accounting structure and ﬁnancial reporting

for governmental and not-for-profit entities to include

colleges and universities, medical care facilities, and social

service agencies.

675. Accounting Research (3) As Needed

Prerequisite: ACC 314 / PMACC 514

This course is designed to introduce students to empirical

thinking, empirical methods, and empirical writing in

accounting.

679. External Domestic Study Programs (1-4) As Needed

All courses and their application must be defined and

approved prior to registering.

679PF. External Domestic Study Programs (Pass/Fail)

As Needed

All courses and their applications must be defined and

approved prior to registering.

680. Study Abroad Programs (1-4) As Needed

All courses and their application must be deﬁned prior to

travel.

680PF. Study Abroad Programs (Pass/Fail) As Needed

All courses and their applications must be defined and

approved prior to registering.

684. Accounting Internship (3) F, W, S, Su

Selected students are assigned to obtain supervised practical

work experience in many area accounting firms, banks,

corporations, and various non-proﬁt organizations.