Geneseo's M.S. in Accounting
The School of Business at SUNY Geneseo has established a Masters in Accounting Program. This new program meets the state requirements as well as providing the skills and knowledge required for a licensure qualifying program by the accounting profession.
Designed to be a full-time program, students will nornally complete the degree in one year. This time frame enhances the linkages between the courses in the program. The academic schedule will include two courses in the summer and four each in the fall and spring semesters. Our small classes, accessible faculty and carefully designed curriculum all reflect the high quality of Geneseo's accounting program.
The M.S. in Accounting courses will be given in the following rotation:
Mgmt 522 Quantitative Analysis
Mgmt 550 Information Systems Theory and Practice
Acct 502 Advanced Financial Accounting
Acct 510 Advanced Taxation Accounting
Mgmt 511 Financial Management
Econ 525 Managerial Economic Analysis
Acct 503 Strategic Management Accounting
Acct 520 Advanced Auditing Theory
Acct 530 Accounting Theory and Research
Mgmt 500 Leadership in Organizations
The five accounting courses will cover topics in financial, managerial, and tax accounting, advanced audit and a capstone in financial accounting theory and research. In addition, courses with a management or economics prefix will cover information systems, quantitative methods, managerial economics, advanced financial management and electives. See bulletin descriptions for each of these courses MS in Accounting Course Listing
Advantages of an M.S. in Accounting
Earning an M.S. in Accounting provides the following benefits:
Enhanced preparation: Fifth-year graduates will arrive in the workplace with a superior level of skills and knowledge. This frequently translates to more rapid advancement and enhanced career prospects.
Career planning flexibility: Professional mobility requires a CPA license or the ability to become licensed. Many states which already have 150-hr. requirements will not provide reciprocity for out-of-staters who possess only 120 hours. Lack of a 150 can adversely affect promotions contingent on a transfer, plans to move out of state, or advancement prospects in a market which includes some 150-hr. jurisdictions (e.g. metro NYC).
Shortened experience requirement: Masters graduates need only one year of work in order to meet the experience requirement.
Performance on the CPA exam: There is a growing body of evidence which shows significantly enhanced pass rates for fifth-year students.
SUNY graduate tuition for the year would be $9415 (2006-07). This price is still extremely competitive with other options for graduate study in the Rochester area.
Financial support for the graduate students will consist of need-based financial assistance packages available to all students. These include Stafford and Perkins loans, College-work study employment, and TAP (if the students are full-time). http://financialaid.geneseo.edu/#Grad%20Student
Candidates should submit the one-page SUNY Graduate School application http://www.geneseo.edu/dean_office/graduate_studies along with two letters of recommendation (at least one of which should be from a professor) MS in Accounting Recommendation Form and a $50.00 processing fee. Deadline dates: September 1, early action (non-binding) for the upcoming summer and February 1, regular decision for the upcoming summer. The candidate should also arrange to take GMATs and to have those results reported to complete the application process.
A general note concerning the Geneseo MS in Accounting.
The Geneseo MS in Accounting is an academic degree which builds on the skills and knowledge obtained in a four-year undergraduate accounting major. It is not a "one-year program." In general, applicants who do not already possess an undergraduate degree in accounting would need two academic years of additional preparation in order to qualify for the Geneseo MS.
Prerequisites for the Geneseo MS in Accounting
Applicants to the Geneseo MS in Accounting must have completed a registered undergraduate degree in accounting, or its equivalent, or be in the process of doing so. We define the term "equivalent" as comprising (a) completion of an undergraduate degree, and (b) completion of a set of courses that would transfer in for credit at Geneseo for each of the courses listed on our Evaluation of Accounting Transfer Credit. Student who wish to apply to the Geneseo MS program on the basis of an "equivalent degree" must include with their application (a) one or more transcripts which evidence completion of the required courses, (b) syllabi which demonstrate substantial conformity between the equivalent course and the Geneseo course (the Undergraduate Bulletin is available at http://bulletin.geneseo.edu) and (c) evidence of an undergraduate degree.
Potential applicants to the Geneseo MS program who do not meet the criteria set out in the preceding paragraph may attempt to complete missing coursework in one of three ways:
(1) If the candidate needs one or two courses to complete the equivalent to an undergraduate degree, he or she may do so by registering for the required course(s) under graduate non-matriculated status. See http://dean.geneseo.edu/forms/Grad_Guide.pdf for instructions and additional information.
(2) If the candidate needs three or more courses to complete the equivalent to an undergraduate degree, he or she may apply to do so by securing graduate non-degree status. See http://dean.geneseo.edu/forms/Grad_Appl_Instructions.pdf for instructions and additional information.
(3) If the candidate desires to complete a Geneseo undergraduate accounting degree, he or she my apply to Geneseo as an undergraduate degree candidate.
Current undergraduates who wish to enter the MS program typically apply after completing their Junior year. Please note that completion of coursework at Geneseo or acceptance into the college for degree studies under any of the options noted above does not guarantee admission to the MS program. This condition holds for all Geneseo students, including students who are completing the BS in Accounting program.
NYS and Geneseo Requirements
Geneseo's MS has been designed to satisfy the New York state Dept. of Education requirements for CPA licensure, Option #2, which includes but are not limited to at least 33 semester hours in accounting with courses in financial accounting theory and principles, managerial accounting, U.S. federal tax accounting, auditing and computer auditing; and 36 semester hours in general business electives including business statistics, commercial law, computer science, economics, and finance. Applicants seeking a Geneseo undergraduate accounting degree should be aware of the more stringent requirements for that degree, including specific liberal arts courses and a quantity of accounting and business courses that exceeds the NYS minimum.
The Geneseo MS contains fifteen semester hours of accounting; therefore prospective applicants should have completed a minimum of eighteen semester hours of accounting coursework. Note the other specific requirements in general business.
For reference & additional information see http://www.op.nysed.gov/cpa.htm
Geneseo prerequisites include two semesters of Intermediate Financial Accounting for Advanced Financial Accounting (A502), Cost Accounting for Strategic Management Accounting (A503), Tax I for Advanced Taxation (A510) and at least one semester of Audit for the Advanced Auditing Theory (A520). Introductory financial and managerial accounting are prerequisites for the courses noted above in boldface.
If you have completed an undergraduate accounting degree, you should meet all the requirements noted above. If you have completed an undergraduate finance degree, you may be very close to having satisfied all the requirements. You may be able to pick up a few accounting and business courses at Geneseo or another undergraduate program, and then apply to Geneseo for the MS.
Please feel free to contact the Director of Geneseo’s MS in Accounting, Harry Howe, if you have any questions about the foregoing. Dr. Howe’s contact information is:
For additional information, contact:
Dr. Harry Howe
Associate Professor and
Director, Masters in Accounting Program
School of Business, SUNY-Geneseo