The Master of Accountancy (MAcc) program is designed to develop outstanding graduates who demonstrate the knowledge, skills, and competencies necessary to enter the accounting profession and meet future career challenges. The Department of Accounting and Finance provides a student-centered environment that promotes academic excellence, professional and personal growth, a spirit of collegiality, and ethical and professional conduct. The faculty is committed to excellence in teaching and is engaged in research, service, and professional interactions to benefit the University, the accounting profession, and the community.

Western Illinois University is one of only 181 schools worldwide to achieve accreditation by the AACSB International – The Association to Advance Collegiate Schools of Business for its undergraduate and graduate programs in business and accounting. The degree builds upon the broad framework of the undergraduate degree in Accountancy. Graduate Accounting courses emphasize current accounting topics, critical thinking, case studies, accounting theory, and written and oral communication. Classes are limited in size to encourage close interaction between the professor and the student. In addition, the student is allowed to tailor coursework in accounting and business to meet his or her educational and professional goals. A program may be designed to prepare the student for an accounting career in public accounting, industry, government, financial management, or accounting education.

Integrated BB/MAcc Accountancy Program (IAP)

Western offers a unique Integrated Bachelor of Business/Master of Accountancy Program (IAP). The IAP is oriented toward preparation for careers in professional accountancy and is available for students currently enrolled in the undergraduate Accounting program at Western. The IAP is strongly recommended for students interested in a plan of study designed to gain eligibility to sit for the CPA exam. To be admitted to the IAP, students must have completed 60 sh or more, achieved junior-level standing in Accounting courses, and earned a minimum GPA of 3.25 in each of the following: cumulative undergraduate, overall major, and Accounting courses within the major. Students enrolled in the IAP are able to

• earn six graduate semester hours in their senior year.
• waive the GMAT.
• apply for special scholarships reserved for IAP students.
• sit for the CPA exam upon completion of the program.

Additionally, upon reaching graduate status, IAP students will receive special consideration for graduate assistantships, which provide a monthly stipend and a tuition waiver.

View detailed integrated degree requirements for accountancy.

Benefits of Achieving a Master’s Degree

• According to the American Institute of Certified Public Accountants, “the additional academic work needed to acquire the technical competence and develop the skills required by today’s CPA is best obtained at the graduate level.”
• Studies show that students who get a graduate education have a substantially higher rate of success on the Uniform CPA Exam.
• MAcc degree holders receive starting salaries that are approximately 10 to 20% higher than the starting salaries of those with only a bachelor’s degree.
• Today’s MAcc holders are successfully performing the roles of business advisors, consultants, CFOs, and CEOs. The U.S. Department of Labor expects accountants to experience growth in the coming years. The bureau’s 2014-2015 Occupational Outlook Handbook estimates 13% growth in accounting and auditing jobs from 2012 to 2022, adding that job candidates with professional designations, especially CPAs, should have the best prospects. Applicants who have a master’s degree in Accounting also may have an advantage.
• According to the 2014 Salary Guide from Robert Half, when presented with the choice, employers are giving preference–and higher salaries–to professionals who have obtained specialized credentials. The CPA remains the most sought-after designation, and a master’s degree is commonly preferred for senior-level accounting and finance positions.

Accreditation

Western has earned accreditation in both business and accounting by the AACSB International, designating Western Illinois University as among the best business schools in the world. Less than one-third of U.S. business schools and only 15% of business schools worldwide meet the rigorous standards of AACSB International accreditation.

Assistantship and Internship Opportunities

The department has a limited number of graduate assistantships available that provide a tuition waiver and a monthly stipend during the fall and spring semesters, and a tuition waiver during the summer sessions. The graduate assistant’s duties range from providing assistance to undergraduate students in the accounting tutor lab to aiding faculty in grading and/or research projects.

Internships often assist students in differentiating among career paths and provide students with the impetus to complete coursework with a clearer concept of the relationship between academic pursuits and professional development. MAcc graduates have been placed at firms including, but not limited to, John Deere & Co., Caterpillar, Deloitte, McGladrey & Pullen, CliftonLarsonAllen, BDO Seidman, and Accenture after completing an internship with that particular firm.