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Accounting is a multidisciplinary subject that focuses on the economic activities of an organization or individual.Accounting students will gain advanced theoretical and practical knowledge of accounting and finance; master computational and computing skills and techniques used in professional accounting practitioners,
Are you thinking of pursuing a Masters in Accounting degree? If so, you may want to consider the option of pursuing the degree without taking the GMAT. The GMAT (Graduate Management Admission Test) is an exam that prospective students can take to demonstrate their suitability for graduate studies in business. It consists of multiple choice questions and requires about 4 hours to complete. While there are other ways to demonstrate that you have the skills necessary to succeed in an accounting program, such as a GPA from previous education or work experience, many programs require applicants to submit their GMAT scores as well.
But what if you aren’t ready for the GMAT? If you are worried about having enough time or resources to prepare for it (or simply don’t want to take it), there are still options available. One option is to pursue an online program without taking the GMAT at all! While this option may seem unconventional at first glance, there are many benefits associated with it:
-It’s affordable! Because there is no need for physical classrooms or instructors on site, online programs tend to be less expensive than traditional ones that require travel expenses and other expenses related
Masters in Accounting in USA
Masters in Accounting in the USA is a 1-2 years program for students aspiring a career in professional accounting. The course also prepares students for the CPA (Certified Public Accountant) examination.
- Students with a bachelor’s degree in accounting and curriculum including statistics and calculus can apply for this program.
- As per the QS Global Rankings 2020, 28 top universities in USA are ranked among the best Accounting and Finance institutes of the world.
- Accounting professionals can expect a median salary of 70,000 USD annually.
As a fact, accounting studies are of great demand making it a worthwhile program for international students to study in USA.
Study in the USA: Face the facts
There is hardly any reason for not pursuing higher education in the USA. Here’s why:
- About 5.5% of the higher education population in the US are international students.
- Times Higher Education Employability Ranking for 2019 found the US topping the list with 56 of its universities finding prominent places.
- More than 80% of the population of the US speaks English for which international students do not face problems in communicating.
- As per WES reports, 82% of international alumni receive a satisfactory job within 6 months from program completion.
- The report also claimed that 74% of employers value a US degree more. Thus, it greatly boosts a career even after students return to home countries.
Why study Masters in Accounting in USA?
The USA is the largest economy in the world and so most of the biggest companies are headquartered here. This makes employability a favorable factor for international students in the USA.
- Top accounting firms termed as ‘Big Four’: Ernst &Young, Deloitte, PwC, and KPMG are headquartered in the US. These firms provide an entry-level package of 85,000 USD to accounting postgraduates.
- As the accounting industry of the US contributes 156 billion USD of revenue, graduates can expect the most lucrative jobs as well.
- However, only 20% of accounting graduates take up a master’s program. As a result, there is a greater demand for accounting postgraduates in the industry.
- Accountants earn an average wage of 90,000 USD annually with 2.64% growth every year.
- As per the data of 2018, around 11.5 million accounting workforce in the USA projects a net growth of 3.14% every year.
Additionally, the US accounting industry also exhibits a wider global and ethnic diversity with India upholding maximum share among all non-US employees.
Top Universities offering Masters in Accounting in USA
More than 16 colleges in the US have made it to the top 50 Accounting and Finance colleges of the world. Among these, the 10 US universities offering masters in accounting with details are listed below:
| University | QS Ranking | Degree Offered | Program Duration (year) | Annual Tuition Fees (in USD) |
|---|---|---|---|---|
| University of Pennsylvania | 7 | MBA Accounting | 2 | 81,378 |
| New York University (NYU) | 10 | Master of Science in Accounting | 1 | 56,140 |
| Columbia University | 12 | Master of Science in Accounting and Fundamental Analysis | 1-1.5 | 76,195 |
| University of Michigan | 26 | Master of Accounting | 1 | 55,328 |
| Northwestern University | 31 | MBA with Accounting Major | 2 | 73,404 |
| Cornell University | 34 | Master of Professional Studies in Management (Accounting Specialization) | 1 | 58,586 |
| University of Texas | 37 | Master of Professional Accounting | 1 | 45,321 |
| Boston College | 51-100 | MS in Accounting | 1 | 56,580 |
| Michigan State University | 51-100 | Master of Science in Accounting | 1 | 51,855 |
| Ohio State University | 51-100 | Master of Accounting | 9 months | 56,426 |
Masters in Accounting in USA: Course and Curriculum
Master of Accounting in USA is usually a 30-credit score program spanning over 1 to a maximum of 2 years.
- The curriculum focuses on core accounting concepts along with business strategy, and finances.
- Some common concentrations include:
- Accounting Information System
- Financial Reporting and Services
- managerial, Forensic and Government Accounting
- Control
- Audit
- Assurance
- On completion of this program, students can also apply for CPA (Certified Public Accountant) examination.
Course Highlights
| Course | Masters in Accounting |
| Duration | 1-2 years |
| Eligibility | Undergraduate degree in Accounting |
| Examination pattern | Semester-wise |
| Exams RequiredAdmission process | GMAT/GRE and TOEFL/IELTS |
| Tuition fee | 54,000 USD- 82,000 USD/year |
| Job roles | Auditor, Financial Analyst, Managerial Accountant, Corporate Controller, Forensic Accountant, Chief Financial Officer, etc. |
| Entry-level package | 58,000 USD-85,000 USD/ annually |
Types of Degrees Offered
Masters in Accounting for international students is offered through different types of degrees at universities in the USA which are as follows:
- Master of Science (MS) in Accounting or Master of Science in Accounting and Fundamental Analysis: This course is a STEM discipline and more mathematical and analytical in its approach.
- Master of Business Administration (MBA) Accounting-Major: This course is tailored for students seeking a career in business and specifically in the accounting field.
- Masters of Accounting (MAcc)/ Master of Professional Accounting (MPA): This professional course that allows students to prepare for CPA examinations.
CPA (Certified Public Accountant)
- CPA exams give a successful accounting student the license to provide accounting services in the USA.This makes it a prerequisite for every accountant to pass this examination.
- The exam is structured into 4 segments: Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), Regulation (REG) and Business Environment and Concepts (BEC).
- Each section is awarded with 4 hours for completion. Students can complete more than 1 and even 4 sections in one testing window.
- Scores of the exam remain valid for the next 18 months.
Masters in Accounting in USA Without GMAT
Did you know that there are a number of top-class American universities that have done away with the need of a student submitting a GRE score? Yes, you can join a PG programme without writing the GRE.
The GRE is a standardised admissions test that is used to test the calibre of applicants aspiring to study a postgraduate programme abroad, especially in the USA. With a special focus on Science and Engineering, an excellent GRE score is considered extremely crucial in finding a place at a popular university.
But did you know that there are a number of top-class American universities that have done away with the need of a student submitting a GRE score? Yes, you can join a postgraduate programme in the USA without writing the GRE. The detailed list given below consolidates the names of various American universities where you can study specific MS programmes without submitting a GRE score.
University List:
- Farleigh Dickinson University(NJ)
- Monmouth University(NJ)
- Montclair State University(NJ)
- The Richard Stockton College of NJ(NJ)
- Rowan University(NJ)
- Wichita State University
- Kansas State University
- Virginia State University
- Rivier University
- San Jose University – Computer Science
- California State University – Channel Islands – Computer Science
- California State University – Northbridge – Computer Science
- Bridge Port University – Computer Science
- Wichita State University – Computer Science
- Boston University CIS (Master of Science in Computer Information Systems)
- Norwich University CIS (Master of Science in Information Security & Assurance)
- University of Cincinnati – Master of Health Informatics
- Florida International University for MS, PhD in Computer Science
- Villanova University for MS in EE
- University of Idaho for MS in Environmental science and Computer Engineering
- West Texas A&M University
- University of Florida for Arts Education
- George Mason University (for Master in Health Information Systems and Civil Engineering)
- University of Oklahoma – Some programmes do not require GRE scores
- Oklahoma State University – Bio systems and Agricultural Engineering
- Washington State University – Few MS programmes
- University of Nebraska-Lincoln – Few engineering programmes
- University of Northern Virginia – Optional GRE for some programmes
- New Mexico State University – Few MS programmes have optional GRE
- University of Dayton – All Engineering programmes MS and MEng
- University of New Mexico – Biomedical science
- Ohio University – MHA – Masters in Health Administration (GRE is waived if GPA is 3.2 or +)
- California State University, Sacramento – Civil Engineering
- Norwich University – Civil Engineering
- Iowa State University – Civil Engineering
- University of Minnesota – Civil Engineering
- University of Washington – Civil Engineering
The GMAT is written by students aspiring to study a postgraduate Business programme in the USA, mainly the MBA. Some universities that allow students to opt for postgraduate Business programmes without submitting GMAT scores are:
- DePaul University – Kellstadt
- University of Phoenix
- Lake Forest College, Chicago
- Loyola University – Quinlan
- Boston University
- Villanova University
- Suffolk University – Sawyer
Disclaimer – General admission requirements and course-specific entry requirements are liable to be changed at the discretion of the University. Hence all prospective students are advised to cross-check with the Admissions Team of the concerned University if GRE/GMAT scores are needed or not.
So be it an MS, M.Tech or an MBA there are a number of leading universities that let you study a course of your choice without asking for GRE/GMAT scores. Given below are some other parameters, which universities use to judge the applicant’s calibre.
Exceptional GPA:
Some universities choose to waive off the GRE/GMAT score if your grade point average is above 3.3 on a scale of 0 to 4. So it pays to focus on your undergraduate degree and achieving an excellent GPA.
Work Experience:
Some universities waive off the GRE/GMAT if you have relevant work-experience of four years or more that is closely related to the degree that you aim to study.
Undergraduate Research Projects:
There have been instances in the past wherein exceptional undergraduate research projects executed by students have led to the students being offered a place to study in leading universities.
We hope you found this article useful. If you are aware of other American universities accepting students without a GRE/GMAT score, add their names in the ‘Comments’ section below.
Masters in Accounting in USA: Admissions
To apply for MS in Accountancy at the intended college, students need to keep a note of the admission application procedures in USA, deadlines and decision-making process stated below:
How to Apply?
- As requirements regarding admissions are specific to each university, students can always look up to the official websites for better comprehension.
- Application procedure is conducted online. As a fact students need to keep track of the admission dates and deadlines.
- Also, scanned and original copies of each document need to be handy to avoid any form of delay.
Dates and Deadline
- Application to US colleges takes place for two sessions: Fall (mid-December to mid-April) and Spring (mid-October).
- For each session, there are about 2-3 cycles for accepting applications.
- Deadlines for each US university vary, however, students applying post-deadline are treated on a case-by-case basis.
- International students are always encouraged to apply for admissions at least a year before their intended joining year. This is to ensure that they are able to apply for student visas and make travel arrangements to USA.
Note: Incomplete applications are not accepted and definitely not reviewed for admissions.
Masters in Accounting in USA: Eligibility
The academic requirements for Masters(MS) in Accounting in USA vary with universities, details for which are stated below:
English language Requirement
All international students who are not native English speakers, have to take English proficiency tests like TOEFL and IELTS.
- The minimum score for TOEFL on paper-based is 600, on internet-based is 100 and 250 for computer-based.
- Minimum band score for IELTS is 7.5.
Entrance Examinations
For entry into Masters in Accounting, students are required to provide scores of standardized exams to study in USA such as GMAT or GRE. Yet, some like Boston College certainly do not require GMAT for international applicants.
- There is no specific score earmarked for clear admission into the MS in Accounting programs.
- However, following are the average scores for 2019 entering batches in some of the elite US universities:
- GMAT: Students obtaining an average total score of 752 and more can expect to be through the admission process.
- GRE: Average score for verbal should be 162 whereas for quantitative around 167.
University-specific Requirements
| University | Minimum UG Requirement | GMAT (Average Total) | GRE (Average) | TOEFL (iBT) Scores | IELTS Scores | Required Work Experience (years) |
|---|---|---|---|---|---|---|
| University of Pennsylvania | 83%-86% (3.0 GPA) | 732 | Verbal and Quantitative: 156 | 100 | 7.5 | Not necessary |
| New York University (NYU) | 83%-86% (3.2 GPA) | GMAT waiver | GRE waiver | 100 | 7.0 | At Least 2.5 |
| Columbia University | 90%-92% (3.7 GPA) | 752 | Quantitative:167; Verbal: 160 | 112 | — | Not required, but desirable |
| University of Michigan | 89% (3.4 GPA) | 612 | Quantitative: 159;Verbal: 149 | 88 | 6.5 | Relevant full-time job or internship |
| Northwestern University | 85% (3.0 GPA) | 730 | No minimum score required | 90 | 6.5 | 2 |
| Cornell University | 3.42 GPA | 696 | Not required | 77 | 7.0 | 2-3 |
| University of Texas | 87% (3.2 GPA) | 704 | 300 | 79 | 6.5 | Not required |
| Boston College | 91% (3.6 GPA) | 660-700 | Optional | 100 | 7.0 | Not required |
| Michigan State University | 85% (3.0 GPA) | 674 | Quantitative: 164; Verbal: 153 | 80 | — | Not required |
| Ohio State University | 91% (3.6 GPA) | 680 | 164 | 80 | 7.0 | Not required |
Documents Checklist
For a complete admission procedure, students must keep these documents handy:
- Proof of online admission application
- Current resume
- Academic transcripts from each college/university that granted degrees
- GMAT and GRE scores cards
- Evidences of TOEFL/IELTS scores
- Personal Essay
- 2 Letters of recommendation
Admission Decision
- Admission decisions are made based on a number of criteria like GRE/GMAT scores, language proficiency, academic records, and work experience.
- All these factors determine the strength of applications arriving from different corners of the world.
Visa to Study in USA(F-1 Visa)
Students applying for a full-time course can apply for an F-1 student visa to USA. This validates a student’s stay for the entire duration of the program.
- Visa acceptance rate for the US is 80%, hence availability will not be a bigger issue if conditions are strictly followed.
- Students need to submit an online application for a visa to study in the USA with an amount of 180 USD.
- Applicants need to make sure that bank balance supports the entire study duration.
- Keep in hand bank statements proving scholarships (if offered)
- Documents required for a student visa application to USA:
- Online application form (D-160)
- Valid passport
- Fee payment receipt (SEVIS)
- 1 copy of interview letter
- Birth Certificate
If you are considering a Masters in Accounting in USA, you might be wondering if it is possible to get into a program without having to take the GMAT. It can be tough to navigate the different requirements of each school, but we’re here to help!
First off, it’s important to note that most programs will require you to have an undergraduate degree (typically in accounting) and some experience in accounting. While this may seem like an uphill battle if you don’t have any formal education in accounting yet and want to start with a Master’s program, there are some options available that do not require the GMAT or GRE. For example, some programs will accept applicants who have certain types of work experience.
Additionally, some schools offer provisional admission for applicants who haven’t yet completed their undergraduate degrees but have taken courses at other institutions and can provide transcripts showing completion of these courses. This may allow them to apply for admission before completing their college credits.
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