Overview of the Online Master of Accountancy Program

The online Master of Accountancy (MAcc) program at the University of Oklahoma is designed to empower professionals to deepen their expertise and elevate their careers in accounting. This flexible, high-impact program blends advanced theory with real-world applications, equipping students with the tools to lead in a dynamic financial landscape.

Program Details

• The program is accredited by the AACSB and prepares graduates for leadership roles in accounting and fulfills the educational requirements to sit for the CPA exam in nearly all U.S. jurisdictions.
• The program offers two distinct tracks based on the student's academic background:
  • The Standard 51-hour track is designed for students who hold an undergraduate degree in a field other than accounting.
  • The Advanced Standing 33-hour track is tailored for students who have earned a bachelor’s degree in accounting.
• The program offers flexibility through course alternatives and custom schedules for students in both tracks.

Course Structure

• The program offers a comprehensive overview of key topics related to financial reporting, cost accounting, taxation, auditing, research, and more.
• All students take 21 credits of advanced accounting and 12 credits of business electives.
• Additionally, standard track students may need up to 9 fundamental courses.
• While classes are online, most courses are synchronous with live Zoom lectures one to two times per week at 7 p.m. Central Time.
• Attendance in live sessions is required.

Standard Track Courses

• Financial Reporting Foundations: This course introduces the process of preparing, reporting, and using financial data reported on the income statement and balance sheet.
• Financial Reporting for Assets and Investments: This course introduces the process of measuring and reporting assets and investments.
• Financial Reporting for Liabilities and Equity: This course introduces the process of valuing and reporting liabilities and equities.
• Fundamentals of Cost Accounting: This course covers an overview of technical management accounting concepts.
• Fundamentals of Income Taxation & Tax Accounting: This course covers an introduction to the taxation of income.
• Fundamentals of Taxation of Business & Employment Income: This course covers the introduction to the alternate organizational forms in which businesses may be conducted.
• Fundamentals of Accounting Information Systems: This course introduces the conceptual foundations of AIS and data analytics.
• Fundamentals of Internal Control: This course introduces the basic concepts of system documentation and internal controls of accounting information systems.
• Fundamentals of Auditing: This course will develop the perspective and knowledge necessary to understand the audit process and gain basic competency in audit risk assessment and reporting.

Common Courses for both Standard and Advanced Standing Tracks

• Advanced Accounting: This course covers consolidated reporting for mergers and acquisitions, along with accounting and reporting for governmental and nonprofit organizations.
• Accounting Theory and Research: This course examines the history and development of accounting theory and its reflection in current professional standards.
• Income Tax Accounting II: This course covers advanced issues related to the taxation of multi-jurisdictional operations and transactions involving corporations, partnerships, estates, and trusts, and their owners throughout the life of the entity.
• Fraud Examination: This course develops a broad understanding of the different types of fraud that affect organizations, as well as to learn how and why fraud occurs.
• Advanced External Auditing: This course is designed to introduce students to advanced external auditing topics, such as how to audit internal controls, revenue, and fair value, with a special emphasis on audit data analytics.
• Oil and Gas Accounting: This course is a study of financial accounting issues specifically directed toward oil and gas companies.
• Financial Statement Analysis: This course covers topics in analysis and use of general-purpose financial statements for decision making, ratio analysis, credit risk, and valuation.
• IT Audit and Controls: This course focuses on the frameworks utilized in assessing the controls required for information systems assurance.
• Accounting Ethics & Professional Responsibilities: This course examines the ethical issues encountered by, and the professional and legal obligations of, practicing accountants with the ultimate goal of enhancing ethical decision-making and behavior in the profession.
• Strategic Leadership Communication: This course explores methods to improve the ability to lead and communicate effectively at any level of leadership.
• Financial Management: This course provides a working knowledge of fundamental concepts in financial management and the ability to apply these concepts to real-world problems.
• Law of Commercial Transactions: This course is a comprehensive survey of commercial transactions, including the law of sales, warranties, risk of loss, negotiable instruments, bank collections and deposits, electronic fund transfers, secured transactions, and bankruptcy.
• Investments: This course provides the fundamentals of investment analysis.
• Operations Management: This course discusses advanced concepts of operations planning, operations functions, current operations management practices, analytical techniques related to operations management problems, and applies these concepts and techniques in practice.
• Management of Information Systems: This course examines the role of information technology and its management in supporting an organization's (internally and externally focused) operations and strategies.
• Business Data Analysis: This course surveys analysis tools available in Excel relevant to business decision-making.

Program Outcomes

• The program equips graduates with the technical expertise, ethical grounding, and strategic insight required to lead in the evolving field of accounting and meet CPA licensure requirements.
• Graduates will be able to:
  • Demonstrate mastery of advanced accounting principles in areas such as financial reporting, auditing, taxation, and managerial accounting to support sound business decision-making.
  • Apply ethical reasoning and professional judgment to resolve complex accounting issues in compliance with regulatory standards and frameworks.
  • Utilize data analytics and accounting technologies to interpret financial data, identify trends, and provide actionable insights for stakeholders.
  • Communicate complex financial information clearly and effectively to diverse audiences, including clients, regulators, and executive leadership.
  • Prepare for and meet the requirements of the CPA exam, positioning graduates for licensure and advancement in public accounting, corporate finance, or government roles.
  • Evaluate and implement internal controls and risk management strategies to ensure organizational accountability and operational efficiency.
  • Collaborate effectively in cross-functional teams, demonstrating leadership and adaptability in dynamic business environments.

Career Opportunities

• The program prepares students for career advancement in a variety of areas within the field of accounting, including:
  • Certified Public Accountant
  • Internal or External Auditors
  • IRS Auditor
  • Chief Financial Officer
  • Controller
  • Managerial roles/staff accountants

Industry Insights

• Median Pay for Accountants and Auditors: $81,680
• Job Outlook: Employment for accountants is expected to grow 6 percent by 2033.
• Job Openings: 130,800 openings for accountants are projected each year, on average, over the next decade.

Why Choose OU Online for a Master of Accountancy

• OU Online offers high-quality, affordable, professional undergraduate and graduate programs in a flexible, online format from a top-tier public institution.
• The Master of Accountancy program combines the academic excellence of world-class University of Oklahoma faculty with the real-world insight of seasoned professors of practice.
• The program delivers an advanced, career-focused curriculum designed to position students for long-term success.
• OU Online offers robust student support services, including academic support, online tutoring, mental health counseling, and an online career development center.
• The program accommodates the needs of working professionals, allowing students to expand their skills while maintaining full-time employment.
• With more than 250,000 alumni across the world, becoming a Sooner means students will have access to a strong network of accounting professionals to accelerate their career.

Cost and Financial Aid

• Tuition and fees for the Standard Track total $51,765 ($1,015 per credit hour).
• The Advanced Standing Track totals $33,495 ($1,015 per credit hour).
• Costs for books and additional materials are not included.
• Financial aid, scholarships, and employer tuition assistance may be available to help reduce out-of-pocket expenses.
• A nonrefundable deposit of $350 is required upon admission to secure a place in the program.

Application Process

• To apply to the online Master of Accountancy Standard program, students must hold a bachelor’s degree in any field from a regionally accredited college or university (or the international equivalent) with a 3.0 cumulative GPA.
• To apply to the online Master of Accountancy Advanced Standing program, students must hold a bachelor’s degree in accounting with a 3.0 cumulative GPA.
• The application process includes:
  • Completing the online application
  • Providing official college transcripts from all institutions
  • Submitting a current resume
  • Submitting a personal statement
  • Letter of recommendation (optional)
  • International students must demonstrate English proficiency (TOEFL)

Application Timeline

• The admissions committee operates under a rolling admissions process, and admissions may continue until two weeks before the start of classes.
• The committee strives to respond to all applicants within two weeks from the time a completed application is submitted.
• A nonrefundable deposit of $350 is required upon admission to secure a place in the program.

University of Oklahoma Summary

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Overview:

The University of Oklahoma (OU) is a comprehensive research university with a strong focus on innovation and educational excellence. It is a major contributor to the state of Oklahoma, impacting the lives of Oklahomans through scholarship, research, and healthcare. OU boasts a diverse student body representing 50 states, 76 Oklahoma counties, and 125+ countries.

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Services Offered:

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Student Life and Campus Experience:

OU offers a vibrant and diverse campus experience with over 400 student organizations. The university has a strong sense of community and is known for its spirited and driven atmosphere.

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Key Reasons to Study There:

Strong Research Focus:

OU is a highly ranked research university, designated as a Highest Research Activity institution by the Carnegie Foundation.

Top-Ranked Programs:

OU is ranked #1 in the country for Aviation and Atmospheric Science & Meteorology.

Diverse Student Body:

OU welcomes students from across the globe, fostering a rich and inclusive learning environment.

Vibrant Campus Life:

With over 400 student organizations, OU offers a wide range of opportunities for students to engage in extracurricular activities and build community.

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Academic Programs:

OU offers over 170 academic programs across various disciplines. The university is particularly known for its strengths in research, aviation, atmospheric science, and healthcare.

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Other:

• OU has three campuses located in Norman, Oklahoma City, and Tulsa.
• The university is committed to supporting the state of Oklahoma through its research and educational initiatives.
• OU has a strong alumni network, with 80% of Oklahoma's healthcare professionals being OU graduates.