MS in Accounting

The Master of Science in Accounting program is designed for students who have completed an undergraduate degree in accounting or another business discipline and wish to become a CPA in New York State.

The program is designed to assist in the transition from an undergraduate accounting program to the CPA exam and professional practice.

Today’s accountants do a lot more than balance the books. They are integral to global businesses as they aid law enforcement in criminal financial investigations, track spending for government agencies, and calculate the costs of compliance with environmental regulations. The U.S. Bureau of Labor Statistics projects growth in demand for professionals with advanced knowledge of accounting principles and practices.

Our Master’s in Accounting is designed to take you from undergraduate accounting to the CPA exam to a high-level position in banking, taxation, insurance, and more. You will develop the analytical and problem-solving skills that will give you an edge in this diverse industry.

The Sy Syms Edge

• Our flexible classes are catered towards the working professional.
• Our comprehensive core curriculum builds a foundation for success in any business.
• Our renowned full-time professors inspire you through academic excellence. Impressive adjuncts bridge theory with real-time business practice.
• Our student body includes a diverse variety of professionals from every business sector.
• Your classes will be small and personalized, allowing you to make lifelong business connections.

At a Glance

• Prepare for the NY CPA exam.
• Develop your professional accounting knowledge and skills.
• Learn from scholars, entrepreneurs, and researchers in the industry.
• Earn your master’s in one year if you study full-time.

Course Descriptions

Accounting Ethics

This course the following topics: business in society, corporate social responsibility and corporate performance, introduction to business ethics, corporate governance, the role and responsibility of the professional accountant, accounting ethics, the meaning of accountability in today’s economy, earning management, triple bottom line reporting, ethical issues related to accounting and tax preparation, accounting and audit failure and whistle-blowing.

Accounting Information Systems

An introduction to the subject of accounting information systems, including their design, control, and use. The course gives attention to control procedures and methods for manual and computerized systems by major transaction cycles.

Advanced Auditing

This course will have as its focus the practical applications of generally accepted auditing standards directed toward the audits of financial statements. This course will also analyze current topical issues in the auditing profession and provide detailed insight into common areas where audits can and do fail. Also, the course will examine the tension between the practical and business aspects of operating an auditing practice and conducting an audit in accordance with generally accepted auditing standards.

Advanced Taxation: Contemporary Tax Issues

This seminar entails a detailed examination of current income tax developments and problem areas as indicated by court decisions, legislation, regulations, and rulings. Specific areas of study will be selected during the semester. Class presentations will hone each student's research and oratory skills.

Business Leadership

The focus of this course is to assist students in developing their competencies and goals regarding leadership. Students explore theories and concepts of leadership and their application in practice Attention is given to identifying personal leadership styles and skills and learning how to adapt and use them. Through cases, readings, videos, experiential exercises, field projects, and performance feedback students gain greater insight and skill in leadership. Topics include behaviors of effective leaders, the use of vision, power, and influence strategies, dealing with multiple stakeholders, organizational politics, and ethics.

Contemporary Topics in Accounting

This is a graduate seminar that will cover various current issues including the politics of standard-setting, International Financial Reporting Standards, revenue recognition, and what we can learn from the ongoing financial crisis.

Data, Analytics & Business Impact

The course explores the exponential growth and ever-changing large complex data and information created by business and society. Data has become so valuable that the World Economic Forum deemed it a new class of economic asset, like oil. Students will study various applications and analytical tools used to derive insight from data, and how experts in accounting, finance, and operations utilize big data applications to manage reporting, risk management, and compliance. Students learn how different industries leverage the data to impact the bottom line and create a competitive advantage.

Deferred Compensation and Employee Benefits

This course will deal with issues around the areas of Qualified Retirement Plans, Other Tax-Favored Retirement Plans, Nonqualified Deferred Compensation, Equity-Based Compensation, and Welfare Benefit Plans.

Federal Income Tax I

Introduction to taxation, determination of tax, gross income inclusions and exclusions, capital gains and losses, itemized deductions, losses, and bad debt, employee expenses, depreciation, and accounting periods and methods.

Federal Income Tax II

Income Tax II is intended to help students recognize key planning, compliance, and ethical issues in the income taxation of partnerships, corporations, and estates and trusts.

Financial Statement Analysis

It gives students a better understanding of financial statements and the information they communicate on the operating, investing, and financing activities of corporations. Focuses on the impact of financial accounting principles, disclosure standards, and alternative accounting practices on financial reports. Examines and evaluates traditional and non-traditional methods of financial statement analysis.

Forensic Accounting

This course will introduce the accounting student to the functions of the forensic accountant in preventing, detecting, and investigating financial statement fraud, employee fraud, and bankruptcy fraud. The course will also explore the forensic accountant’s role in the litigation of the process like an expert witness.

Governmental and Not-for-Profit Accounting

Governmental and Not-for-Profit Accounting is a graduate-level course focusing on accounting and financial reporting for state and local governments and not-for-profit organizations. The course includes a detailed study of:

• Accounting standards promulgated by the Governmental Accounting Standards Board(GASB).
• Relevant pronouncements of the Financial Accounting Standards Board(FASB).
• Fund accounting concepts and practices.
• Reporting for individual funds and consolidation of funds.

Hedge Funds and Alternative Investment Strategies

The course will survey a broad range of hedge fund strategies such as value investing, distressed investing, activist and control-oriented investing, energy trading, fixed income, and several others. The course aims to give students a hands-on, practitioner’s perspective by combining lectures, case studies, interactive discussions, and a final group presentation. Lectures will feature senior investment professionals to present and answer questions about the strategy in which they specialize, giving students a unique opportunity to learn directly from successful real-world investors. The course will also discuss issues related to starting and running a hedge fund.

Students who complete the course will be equipped to understand and think critically about financial markets and will have improved their ability to present and communicate financial concepts. The course will culminate in a group presentation of a mock hedge fund strategy to a panel of institutional investors, which will give students the opportunity to demonstrate knowledge of the strategies, risks, and operational considerations learned during the semester. No prior Hedge Fund experience required.

State Income Tax

State and Local Income Tax will offer an exploration of the constitutional limits on state taxing jurisdiction, the impact of the rise of attempts to impose non-physical presence jurisdiction to tax, and a full review of the history of case-law resulting in the current ability of states to impose income taxes. An exploration of unitary and combined tax theories will be undertaken to permit an understanding of how state and localities have successfully broadened the base of taxation. A review of state personal income tax regimes will be investigated, including rules covering residency, domiciliary, and the ability of a state to reach and tax non-residents on income taxes on activities conducted within its borders.

Taxation of S Corporations and Foiw-Throughs

S corporations are corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. This course will examine the following: What is an S corporation? Electing and maintain S corporation status, advantages and disadvantages of S corporations, terminating S corporation status, self-employment, and payroll taxes for S corporation shareholders, among other topics.

Tax Research, Practice, and Procedure

The purpose of the course is to explain the procedural aspects of working as a tax practitioner and representation of taxpayers before the IRS. In addition, the course is designed to provide an in-depth analysis of the concepts and tools of modern income tax research.

Pre-requisites for MS in Accounting

Students who do not have an undergraduate degree in accounting but in another business discipline will be required to take courses in accounting during the summer(s) to satisfy New York State Licensure Requirements. Once your application is received, your transcript will be evaluated to create a schedule that will address your specific needs. Students should begin matriculation with 27 business credits.

If courses are not taken at YU, they must be taken at an institution that is AASB accredited and submit their transcript to YU. Must earn a C or better for credit.

Students who graduated from the Sy Syms School of Business with an Accounting degree must complete 24 credits during the fall and spring semesters and will be granted six transfer credits for Federal Income Tax I and II.

Students who did not attend the Sy Syms School of Business or anyone who may have attended Sy Syms but did not major in Accounting will be required to take six credits of taxation.

Classes taken will depend upon a review of the transcript by the admissions committee. These classes may require an additional summer semester to complete.