- The University of Louisville’s Master of Accountancy program is AACSB accredited. The School of Accountancy is one of only 181 accounting programs that have achieved separate accreditation by AACSB. AACSB is the premier accrediting organization for colleges and schools of business, and awards separate accreditation for schools of accountancy.
The Master of Accountancy (MAC) program is a specialized program aimed at individuals planning to complete the CPA examination and begin their careers in public accounting. The program aims to prepare students by enhancing the knowledge and skills developed in their undergraduate program, and by providing the resources and support necessary to pass the CPA exam.
The program is designed primarily for students who have recently completed their undergraduate degree in accounting. Many students will have completed an internship, but that is not a requirement.
Features of the UofL MAC Program
The MAC program is cohort-based. Students begin the program in August and will work with a team throughout the program. Students complete the program the following July. The cohort format, also used in all UofL MBA programs, allows the student to learn from other students and to develop friendships that will last a lifetime. The cohort format also gives students opportunities to develop their teamwork skills – important to those working in audit, tax, consulting, or any other field in accountancy.
The College of Business is home to the Ulmer Career Management Center, which focuses solely on undergraduate and graduate students in the College of Business. While in the MAC program, students will have opportunities to attend workshops (interviewing skills and other topics) and to meet individually with Ulmer Center staff to review resumes and discuss other issues.
Students will sit for the CPA exam while in the MAC program. Kentucky, unlike many other states, permits individuals to sit for the CPA exam once they have completed an undergraduate degree and the specific course requirements*. Incorporated in the program is the Becker CPA Review course, widely regarded as the premier preparation for the CPA exam. The program includes blocks of time for students to take the CPA exam. Students can take all four parts of the exam during the program. Our goal is for all graduates to successfully complete the CPA exam before graduation.
The MAC curriculum prepares the student not only to enter the profession, but also gives students the skills you need to be successful in the accounting profession in the future. The curriculum consists of 30 credit hours of course work, organized in modules of 1.5 credit hours each. Advanced study in information systems, audit, federal taxation and corporate accounting and reporting comprise eight modules. Two modules are devoted to professional research tools and techniques. Data analytics, and introduction to the characteristics and use of “big data,” is also covered in two modules. Other modules address professional ethics, financial statement analysis, leadership, and current topics to give the student a perspective on the issues being addressed by the profession now. Communication skills are developed throughout the program, with students gaining valuable experience communicating complex and simple topics to diverse audiences. The remaining modules cover each section of the CPA exam, using the Becker CPA review program.
Classes are held in the evening and on some Saturdays. Evening classes meet from 6:00-9:30 p.m., with five classes for each module. The Becker CPA Review program meets on Saturdays, in either the morning, or both morning and afternoon. This is an intense program, and we recommend that students focus solely on completing the MAC program and passing all four parts of the CPA exam. The structure of the program does allow a student to be employed during the program, we recommend no more than a 20-hour per week schedule, however.
*Students who wish to become CPAs in other states must check the requirements of those states to ensure they meet all of the requirements. Go to www.nasba.org to obtain additional information about individual state requirements.
Of course, the results of this program are up to you, the student. Hard work, some long hours, and dedication to the objectives of the program are necessary inputs. Dedicated students will graduate with the requirements to become a CPA complete, ready to focus on their careers – “Profession Ready.”
With dedication, graduates of the MAC program will exhibit:
- Outstanding technical knowledge in all major aspects of accountancy.
- The ability to identify business, accounting, tax and other issues, and to formulate solutions.
- Skills in the use of the latest technology to solve complex, real world problems.
- Outstanding communication skills – written and oral – and the ability to convey complex accounting, tax, and business issues to diverse audiences.
- Leadership skills, obtained both in the classroom and by experience working in teams.
- The ability to work effectively as a team member, with an understanding of the characteristics of effective teams.
- A stronger understanding of potential ethical issues professional accountants may face during their careers, and how those issues can and should be addressed.
Admission to the Program
Applicants to the Master of Accountancy program must have an undergraduate degree, majoring in accountancy, from an AACSB accredited college or university. Students with equivalent coursework (for example, the University of Louisville Accounting Certificate Program), and students with undergraduates degrees from outside the United States will also be considered for admission.
Master of Accountancy
The requirement to submit GMAT test scores will be waived for students graduating from AACSB accredited institutions with an overall grade point average of 3.5 or higher (on a 4.0 scale).
The MAC program will admit a relatively small number of students. Interested applicants are encouraged to apply as soon as possible. Applications are considered on a rolling basis. Students will be notified if they are accepted soon after all of the application requirements are met. Once the program limit is met, we will accept students on a standby basis only, and may possibly stop admitting additional students, even qualified applicants.
Cost of the Program
Tuition for the full Master of Accountancy program is $21,000, which includes all University fees. The Becker CPA Review course must be purchased by students separately, and that cost is not included in tuition. Tuition is billed in three installments.
Books and other supplies are not included in tuition and will vary from course-to-course. In some cases, used books, or e-books may be available and may reduce the cost of textbooks for the program.
As graduate students at the University of Louisville, College of Business, students enjoy some additional benefits that will be helpful as they complete the program. Early in August, the MAC cohort will have a Friday night orientation dinner (to which you may bring one guest). The MAC cohort will meet the next day at a retreat/conference center in Indiana. This all-day Saturday program will introduce students to their teams. Through team-building activities, students will get to know their team members and other MAC program students. The day will include an orientation to the program and a short program on working in teams.
The College of Business has a graduate lounge that is available to all graduate students from 5:00 p.m. through 8:00 p.m., with snacks available. Students will have the opportunity to meet and network with students in other programs – the entrepreneurship, full time, and professional MBA programs. Lunch will be provided on those Saturdays that include both morning and afternoon sessions.
At the end of the program, the cohort will meet at a special location for dinner and celebration of graduation. Past graduations have been held at the Ali Center. Each student may bring one guest, with the option to include others (for a fee). Students will receive their degrees at this event. Students may also participate in the December University graduation, with cap and gown.
Need More Information?
For more information, contact the Graduate Program office in the College of Business at (502) 852-7257, or by e-mail to MBA@louisville.edu.