Fairfax University of America

MS in Accounting

• Demonstrate the ability to apply concepts of accounting theory and practice in a variety of business settings.
• Analyze complex financial and managerial accounting problems and formulate, communicate and explain recommendations to decision-makers.
• Demonstrate the ability to communicate fundamental accounting and tax principles and techniques effectively both in writing and orally.
• Construct GAAP compliant financial statements including the balance sheet, income statement, statement of cash flows, and statement of stockholder’s equity, and understand their interrelationships.
• Evaluate accounting practices from ethical, legal, and regulatory perspectives while considering the interests of diverse stakeholders.
• Integrate accounting principles and enterprise technology solutions to maximize value recognized by organizations.

The Masters of Science in Accounting degree program is earned by completing 30 semester credits of coursework and 6 semester credits of thesis work beyond the required courses.

Students graduating from the MS in Accounting program should be prepared to provide leadership in a variety of financial and accounting settings. The MS in Accounting program develops the foundation for continuing education and leadership in all fields of accounting. Graduates of the MS in Accounting Program can anticipate jobs in the following types of careers at the management, director, and executive levels:

• Accounting Manager
• Auditor
• Budget Analyst
• Controller
• Environmental Accountant
• Financial Analyst
• Financial Manager
• Financial Planner
• Fraud Investigator
• Internal Auditor
• Payroll Staff, Manager
• Risk Manager
• Strategic Planner
• Tax Specialist
• Postsecondary Business Teacher

The Master of Science in Accounting Degree requires 36 academic credits, consists of two study areas that develop core competency in the accounting field, and additional necessary knowledge and skills to become an accountant.

Program Prerequisites

If an applicant does not have a previous business and/or management background, finance, and accounting experience, and their bachelor’s degree is not related to business and management, he/she is required to take the following MS in Accounting Program prerequisite courses (5 courses, 15 credits):

• STAT 200 Introduction to Statistics
• ACCT 201 Principles of Financial Accounting
• ACCT 202 Principles of Managerial Accounting
• BUSS 303 Principles of Finance
• ENGL 120 Academic Writing and Research

Core Courses (7 courses- 21 Credits)

This set of courses provides basic concepts, analysis, and fundamental knowledge in auditing, taxation, financial reporting, business ethics, and information systems within the accounting field. Every student must complete the following seven (7) courses:

• MBA 511 Managerial Accounting and Finance
• MBA 605 Auditing
• MBA 608 Financial Reporting and Decision Making
• MBA 610 Taxation of Business Entities
• MBA 611 Business Ethics and Law
• MBA 654 Accounting Information Systems
• ACCT 600 Cost Accounting

Elective Courses (3 Courses – 9 Credits)

To expand their knowledge and broaden their experience and skills in the accounting field, students are required to complete three elective courses (9 credits) from the list below:

• MBA 614 International Finance
• MBA 620 Long-term Financial Decisions
• MBA 621 Trading and Risk Management
• ACCT 601 Advanced Financial Accounting
• ACCT 602 International Accounting
• ACCT 603 Contemporary Topics in Accountancy

Note: Students who wish to take a course that is offered by another graduate program outside of their major can petition to do so with permission from the instructor of the course and the Program Chair. Requests are considered based upon a student’s previous academic performance including meeting the minimum attendance requirements for previous courses and maintaining satisfactory progress.

Thesis Courses (2 courses, 6 credits)

Accountants are widely employed throughout practically every industry and every area of employment. Often serving as the essential source for financial data critical to the organization’s ultimate success, accountants may provide financial insights, which serve as the primary factor in making all other decisions. Through the thesis process, students will have an opportunity to demonstrate their ability to integrate accounting practices, various business models, and business operational procedures for the purpose of maintaining an organization’s fiscal, legal, and ethical stability as well as actualizing their understanding through imperial research.

• ACCT 698 Master Thesis I
• ACCT 699 Master Thesis II