One-Year MAcc Program
In just one year, gain the knowledge and skills necessary to meet the demands of the accounting profession with a One-Year Master of Accounting (MAcc) degree from Penn State's Smeal College of Business. Designed for high-potential baccalaureate degree holders, the program offers CPA preparation and expanded career opportunities.
- Connect with Corporate Partners: Top employers, including the Big Four and major regional accounting firms, come to Smeal knowing they will find hard-working students who will succeed once hired.
- Engage in Challenging Course Work: Courses are designed with the near-term goal of passing the CPA Exam and the long-term goal of preparing you for a rewarding career.
- Build Your Network: Opportunities to connect within and beyond the classroom encourage collaboration among students and faculty and build your career potential.
Accounting at Penn State
The Accounting Department at Smeal enrolls approximately 1,000 students at the undergraduate, graduate, and doctoral levels and is powered by a leading faculty of practitioners, educators, and researchers.
Program Format & Curriculum
Offered in a traditional face-to-face classroom setting with dedicated course sections on Penn State’s University Park campus, the One-Year MAcc Program begins in the fall semester and concludes in August of the following year. The One-Year MAcc Program offered by Penn State's University Park campus can only be completed on a full-time basis and is not offered online.
CPA Exam Preparation
Courses covered in the program are designed with the near-term goal of passing the CPA Exam and the long-term goal of preparing for a rewarding career as an accounting professional. Faculty work with students to ensure they understand the major issues confronting the accounting profession today and have the technical competence to pass the CPA Exam.
Fall Semester (15 credits)
ACCTG 432 – Accounting Information Systems
ACCTG 440 – Advanced Managerial Accounting
ACCTG 803 – Forensic Accounting
B A 517 – Leadership Communications
B LAW 444 – Advanced UCC and Commercial Transactions
Spring Semester (3 credits)
Summer Semester (12 credits)
ACCTG 806 – Taxes and Business Planning
ACCTG 873 – Advanced Topics in Financial Reporting
ACCTG 881 – Financial Statement Analysis
FIN 531 – Financial Management
An essential part of the program curriculum is the required spring semester internship. The internship must be accounting-related in order to qualify. The Director of the One-Year MAcc Program, Scott Collins, will assist you as you explore options for placement and encourage you to make the most of your campus recruiting events. An internship is not guaranteed and is not provided by the program.
The tuition for the Class of 2019 is approximately $36,000. Textbooks and supplies are additional costs to be paid by the student. On average, the One-Year MAcc Program tuition increases by approximately four percent (4%) each year. This is an approximation, and the actual increase may be slightly more or slightly less each year. The same program tuition is charged to all applicants regardless of residency.
A non-refundable deposit of $500 is required to accept an offer of admission to the One-Year MAcc Program. This deposit will be credited toward your Fall tuition payment.
Tuition payment due dates are listed on the Bursar’s schedule. Fall tuition is typically due in August, Spring tuition is typically due in December, and Summer tuition is typically due in May.
It is possible to meet the 150 credit-hour requirements without receiving a master’s degree or any other graduate degree. If you are a Pennsylvania resident, then the tuition cost of taking undergraduate courses beyond those required to meet the Bachelor of Science degree, but which serve to satisfy the 150 credit-hour requirements, may be significantly less than the cost of enrolling in the One-Year MAcc Program.
We are now accepting applications from all prospective students, even if you are not currently an F-1 visa holder. The following items are required to complete your application to the One-Year MAcc Program:
- Current Resume
- Two professional or academic references
- Unofficial transcripts uploaded within the application
- Responses to essay questions uploaded within the application
- GMAT score. The submission of a GMAT score is optional for current Penn State students. The submission of a GMAT score is optional for applicants from outside of Penn State with a cumulative GPA at the time of application of 3.50 or higher. Applicants from outside of Penn State with a cumulative GPA at the time of application of less than 3.50 must submit a GMAT score.
- TOEFL or IELTS score. Current Penn State students are exempt from providing an updated TOEFL or IELTS score. Applicants from outside of Penn State are only exempt from providing a TOEFL score if they have graduated from a U.S.-based institution prior to the time of application.
- Non-refundable application fee paid via the Graduate School's website
Formal admissions interviews are conducted on an invitation-only basis. As such, you might be invited by the Admissions Committee to participate in a formal admissions interview.
GMAT and TOEFL scores are only accepted if sent by the testing organization directly to Penn State. DO NOT mail or email copies of your scores to the Accounting Department. Also, do not send financial information unless you have been admitted into the program and we request that information.
When sending your GMAT score to Penn State, please select Penn State, University Park, Master of Accounting
When sending your TOEFL score to Penn State, please enter Penn State's code: 2660
There are no minimum GMAT, TOEFL or GPA scores. The Admissions Committee favors GMAT scores of at least 600, TOEFL scores of at least 100, and an overall GPA of at least 3.50, but these are not requirements and students have been accepted in the past with lower scores. If the GMAT or TOEFL exam was taken more than once, then the Admissions Committee will view all scores but will consider only the highest score. We do not accept GRE as a substitute for GMAT under any circumstances. If you are required to submit a GMAT score and/or TOEFL score as part of your application package, then please note that we will not waive the GMAT or TOEFL requirement under any circumstances.
All reference letters are submitted electronically via the GRADS application system. You will be asked to provide email addresses for your referees during the application process. Please verify that the email addresses you provide are valid and correct. Emails to referees are not sent by the GRADS system until the application is submitted. You will receive an email when each reference is submitted and you can also check on references received by logging into your application. Please do not mail or email copies of your recommendation letters to the Accounting Department. You can resend the link to your referee or remind your referee by logging back into your application and clicking the “remind” button. This will send them another email asking for the reference letter.
Two reference letters are required for your application to be complete. Recommendation letters should come from two people who you feel are able to present a complete and objective evaluation of you. Instructors and recent work or military supervisors are most appropriate. Recommendations from personal friends, relatives, academic advisers, or family acquaintances are not appropriate and will not count towards the reference letter requirement.
Please make sure to review Penn State Graduate School’s Requirements for Admission.
Offers of admission are conditional upon satisfactory completion of remaining undergraduate course work (including course work equivalent to a specified sequence of Penn State undergraduate accounting courses) and obtaining a bachelor’s degree before entering the One-Year MAcc Program. Additional conditions of admission may be communicated to an applicant at the discretion of the Admissions Committee.
You will upload unofficial copies of your transcripts within your application. Please do not send the Accounting Department or the Graduate School copies of your official transcripts. If you are extended an offer of admission and will be accepting the offer, you have sixty (60) days to send the Graduate School copies of your official transcripts.
A non-refundable application fee is required to process your application. This fee is paid via the Graduate School’s website. You will receive instructions for payment during the application process. If paying by check or money order, please make it payable to The Pennsylvania State University. International money orders or checks must be drawn on a U.S. bank. Bank-to-bank transfers are not accepted. Please note that applications without fees cannot be processed.
The application to begin the One-Year MAcc Program in Fall 2019 will be made available in September 2018. Application deadlines to begin the program in Fall 2019 will be as follows:
- First Round for All Applicants (US Citizens, US Permanent Residents, and International Students): 10/15/18 *
- Second Round for All Applicants (US Citizens, US Permanent Residents, and International Students): 02/01/19 *
- Applications from US Citizens, US Permanent Residents, and international students will be considered and reviewed on a “rolling admissions” basis after the 02/01/19 application deadline.*
* Applicants may apply only once during any given academic year.
For all applicants, a natural question emerges regarding any tradeoffs that might exist between the October and February application deadlines, as well as the “rolling admissions” process after the February application deadline. The following insight might be helpful as you consider tradeoffs between the various application deadlines:
- The Admissions Committee will review the application materials you submit as of any given application deadline. The attractiveness of your application package is therefore a function of the “body of work” you are presenting to the Admissions Committee as of that application deadline. In some cases, the attractiveness of your application package is sufficient for admissions consideration during the first application round. In other cases, the extra time provided by an alternate application round can help improve the attractiveness of your application package. Any perceived benefit that might be realized by submitting an application package to an alternate application round should be weighed against any perceived costs associated with the additional information provided immediately below.
- Because the application package is comprehensive in nature, and because you will be asked to submit materials and request reference letters, we recommend starting the application at least one month prior to the application deadline.
- Offers of admission are valid for sixty (60) days. To accept an offer, you must submit a $500 non-refundable tuition deposit. Offers of admission are conditional upon satisfactory completion of remaining undergraduate coursework (including coursework equivalent to a specified sequence of Penn State undergraduate accounting courses) and obtaining a bachelor’s degree before entering the One-Year MAcc Program. Additional conditions of admission may be communicated to an applicant at the discretion of the Admissions Committee.
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