Rutgers University is also featured in our ranking 30 Top Affordable Master’s in Accounting/Master’s of Accountancy Degree Programs.
Master of Accountancy Programs at Rutgers University
The four available master of accountancy degrees at Rutgers University are part of the Rutgers Business School, and the curriculum of each program is designed with very specific goals in mind. The Professional Accounting track prepares students with no prior background in accounting for work in the industry. This is a strictly part-time program and involves 11 required courses totaling 30 credit hours. Accounting for Managers, Business Law I and II, and Intermediate Accounting I and II are some of the required classes.
The Financial Accounting program also involves 30 credit hours partly composed of 5 core classes like Accounting in the Digital Era and Decoding of Corporate Financial Communication which are taken full-time in-person during the summer session. The remaining hours come from elective courses which can be taken either online or on-campus part-time. This program can be completed in one year.
Students currently working in taxation can enroll in the 30-credit-hour part-time Master of Accountancy program that enables them to complete the coursework requirement for CPA certification and prepares them for the examinations. Students take advanced courses like Regulation of Tax Practice and Corporate Income Taxation.
Finally, those interested in working in the public sector can choose the Governmental Accounting program. This is only offered online and involves seven required courses along with three electives. Advanced auditing and budgeting skills are emphasized throughout each class.
About Rutgers University
Enrolling almost 70,000 students each year, Rutgers University is the largest university in New Jersey and has campuses all across the state but most notably in New Brunswick, Newark, and Camden. The school began as Queen’s College in 1766 and is one of the ten oldest colleges in the United States. Since then, it has expanded to include over 350 degree programs and more than 300 research centers. Admissions is competitive as the university has earned a reputation for excellence as evidenced by its U.S. News and World Report ranking as the 25th best public university in the country and one of the top 100 world universities.
Individual programs have also received high rankings. In 2016, U.S. News and World Report named the Rutgers Master of Accountancy Governmental program the 14th best online business program in the country and 11th for business programs for veterans.
Rutgers University Accreditation Details
The Middle States Commission on Higher Education (MSCHE) is the accrediting organization for post-secondary institutions in Washington, D.C., Maryland, New York, New Jersey, Pennsylvania, and Delaware. New Jersey’s Rutgers University first received accreditation in 1921 and was most recently re-certified in March 2018. The MSCHE focuses on four primary objectives during evaluations. First, it serves as quality assurance for the education provided by a university while also ensuring the school meets all Department of Education regulations necessary for students to receive federal financial aid. Accreditation also certifies that the financial, organizational, and management aspects of the university are handled appropriately. Finally, these evaluations help schools identify and remedy areas needing improvement.
The four master in accountancy programs are offered through the Rutgers Business School which is specially accredited by the Association to Advance Collegiate Schools of Business, or AACSB. This organization evaluates business programs to ensure that teaching methods are effective and the curriculum provides adequate preparation for professional life.
Rutgers University Application Requirements
The admissions requirements for the four different master of accountancy degree programs at Rutgers vary slightly. All applicants need to submit the following.
- Graduate school admission and $70 fee
- Official transcripts from all post-secondary schools
- Professional resume
- Essay or personal statement
Testing requirements, essay topics, and letters of recommendation requirements depend on the specific program. As far as standardized tests, students applying for the Taxation and Governmental Accounting tracks do not have to submit any scores. Financial Accounting applicants must submit GMAT scores from the previous five years unless they currently are licensed as CPAs or earned a Rutgers undergraduate business degree with at least a 3.0 GPA. The Professional Accounting program requires either the GMAT or GRE scores, and this requirement is waived for students with a prior graduate degree or those with 8 or more years of professional work experience as well as above a 3.0 GPA in undergraduate courses.
As for the other differences, the Financial Accounting and Taxation programs ask for two letters of recommendation, but Governmental Accounting applicants need three. While the Professional Accounting program does not request recommendations, this application requires two essays, one outlining a student’s 5-year plan and the other about his or her reasons for choosing the program. Governmental Accounting applicants need to submit a similar statement of purpose, and Financial Accounting students are asked to write about a personal ethical dilemma. The Taxation track gives students a few different options for their essay including the above.
Application deadlines also vary by program as some are more competitive than others. These are as detailed below for spring, summer, and fall start dates.
- Professional and Financial – January 4, May 1, June 1
- Taxation – January 2, May 1, August 1
- Governmental – January 2, no summer start, August 1
Tuition and Financial Aid
Since the Governmental Accounting program is provided entirely online, in-state and out-of-state students pay the same tuition, $11,340 per semester for full-time and $945 per hour for part-time. Full-time study in the other master of accountancy programs is $13,158 for in-state and $22,844 out-of-state tuition with part-time rates $1,097 and $1,904.
After first completing their FAFSA to qualify for federal aid, graduate students are encouraged to apply for scholarships from private organizations to help fund their education. The Government Finance Officers Association, Mensa Foundation, and American Woman’s Society of CPAs are groups offering scholarships to accounting students. Since many students enrolled in these programs are working professionals, another source of financing may be their employers. Often, companies offer tuition reimbursement for coursework relevant to their industry.
A graduate degree in accounting can open doors in both the public and private sectors. Along with gaining advanced knowledge and skills, a degree from Rutgers University demonstrates an individual’s commitment to advancement in a particular branch of accounting.
