University of Illinois- Chicago is also featured in our ranking 30 Top Affordable Master’s in Accounting/Master’s of Accountancy Degree Programs.
Master of Science in Accounting at the University of Illinois Chicago
At UIC, accounting is regarded as the fundamental language of business. This means that it features a prestigious Master of Science in Accounting program. A flexible program that typically is completed in one or two years of study fully prepares graduates to sit for the Certified Public Accountant, or CPA, and the Certificate in Management Accounting, or CMA, examinations. These certifications, particularly the CPA, open a multitude of professional doors.
The Liautaud Master of Science in Accounting program acknowledges that this field of study and the industry are about more than numbers. Accountants are expected to do more than keep track of figures in the modern business world. They are considered valuable business consultants who assist with strategic planning and making fundamental business decisions. Completing the coursework for this graduate degree prepares students to meet these complex challenges.
Students who enter the program after earning a business or accounting baccalaureate degree may be able to use their education to reduce the number of credits they must complete at the graduate level. This may enable program completion within one year. The program places an emphasis on using cutting-edge technology. This is in response to the demand from employers who are increasingly requiring that their accounting professionals be up-to-date on the latest innovations for even more efficient and successful operations. Accordingly, students will complete classes such as Advanced Financial Accounting as well as Database Accounting Systems. This ensures familiarity with accounting fundamentals and the state-of-the-art technology that supports the profession.
About University of Illinois Chicago
The University of Illinois Chicago is a relatively modern incarnation of several 19th-century health colleges. Medical, dental and pharmacy programs continue to be the largest at the college, with the earliest school having been established in 1859. The medical school is the largest in the U.S., but the overall institution has grown to include 15 colleges that offer 85 undergraduate degrees, 93 master’s degrees and more than 60 doctoral degrees.
Early in its history, the university’s main campus was located in Champaign-Urbana. Relocation began just after World War II when Congress passed the G.I. Bill. Expecting to be inundated with new students, the university built a temporary location at Navy Pier that remained in operation until 1965. The main campus relocated to Chicago Circle the same year, though the medical campuses remained technically separate. They were not joined into the modern University of Illinois Chicago until 1982. Since then, the institution has gathered an outstanding reputation.
U.S. News & World Report ranked UIC at the 129th place on its list of the best national colleges in 2015. For national public universities, it was ranked at the 78th spot by the same publication. Times Higher Education ranked UIC at the third position in its list of 100 universities that are fewer than 50 years old.
With a dynamic campus in the center of a vibrant city, distinguished faculty members and a sterling academic reputation, an education at UIC is sought by more than 30,000 students each year.
University of Illinois Chicago Accreditation Details
Institutional accreditation has been conferred on UIC by the Higher Learning Commission, or HLC, which is headquartered in Chicago. This commission is recognized by and affiliated with the Council for Higher Education Accreditation and the U.S. Department of Education. The most recent renewal of UIC’s accreditation took place in 2016-2017.
The UIC Business College was first accredited by the American Assembly of Collegiate Schools of Business in 1971. Accreditation of the Master of Science in Accounting degree program is conferred by AACSB International-The Association to Advance Collegiate Schools of Business.
University of Illinois Chicago Application Requirements
Prospective students who are interested in the Master of Science in Accounting program must complete an online application at the UIC Liautaud Graduate School of Business website. The online application consists of two portions. One is the “Apply Yourself” application, which is used by the school of business to determine eligibility. The other application is the UIC Supplemental Application, which is reviewed by the UIC University Office of Admissions for admission to UIC. A $70 application fee must be submitted.
The admissions process is entirely paperless, so students must be prepared to upload supporting documentation with their applications. All transcripts from undergraduate and graduate coursework must be submitted. No restrictions are placed on the field of the candidate’s baccalaureate degree. However, students must be able to demonstrate at least a 3.00/4.00 grade point average for the final 60-semester or 90-quarter hours of study. GMAT minimum test scores of 500 are required. Alternatively, the student may qualify through GAMSA. This program generally is available to UIC undergraduates in the accounting program who have completed at least 90 hours of coursework and 12 hours in accounting classes at the 300- or 400-level. An overall GPA of 3.25, with a 3.0 GPA in accounting courses, also is required.
Additional application items include two letters of recommendation, a personal statement, and a resume. Domestic students must apply by November 1 for admission in the spring semester and by June 15 for the fall semester. International students must observe deadlines of July 15 and February 15. Students for whom English is not the first language must submit test scores from TOEFL, IELTS or PTE-Academic.
Tuition and Financial Aid
In-state students in graduate degree programs will pay tuition fees depending upon the number of credit hours for which they are enrolled. Students enrolled in 12 hours or more may pay nearly $6,000 per semester while enrollment in just one to five credit hours will result in tuition costs of about $2,000. Out-of-state students will pay per semester tuition costs of between $4,000 and $12,000.
UIC offers numerous funding options for higher education. Students may seek assistantships through their degree program or compete for various awards and fellowships that are offered by the university. Several scholarships also are available.
Private or government loans similarly are available to students enrolled at UIC. Unlike grants, scholarships, and fellowships, funds received from a loan must be repaid.
The prestigious Liautaud School of Business is the ideal place to seek an advanced accounting degree. Completion of this program prepares the student for a promising career.
