The University of Michigan is also featured in our ranking 30 Top Affordable Master’s in Accounting/Master’s of Accountancy Degree Programs.
Located in Ann Arbor, Michigan, the University of Michigan is a public research university. Often referred to as simply “Michigan,” the school was established in 1817, 20 years prior to Michigan becoming a state, making it Michigan’s oldest university. Initially located in Detroit, it was moved to its present location in Ann Arbor in 1837. Nestled on 40 acres of what is known today as Central Campus, the school has expanded to include more than 584 major buildings. UM also operates a center in Detroit, a North and South Campus, and two regional campuses in Dearborn and Flint.
As of 2017, UM has produced six Turing Award winners, 24 Nobel Prize winners, and one Fields Medalist. The school offers comprehensive doctoral degrees in STEM fields, social sciences, and the humanities as well as professional degrees in dentistry, public health, social work, nursing, pharmacy, law, medicine, business, and architecture. There are more than 540,000 living alumni of UM — one of the largest alumni bases of any post-secondary institution worldwide.
Master of Accounting at the University of Michigan
At UM, the Master of Accounting degree focuses more on just passing the CPA exam. Students will develop fundamental knowledge of how accounting works within the business world by customizing a portion of their degree with electives. Outside the classroom, students attend the EY Public Policy Symposium in Washington, D.C., network with Master of Business Administration (MBA) students, and gain leadership skills that will help them to make vital business decisions. According to the University of Michigan, 100% of 2017 Master of Accounting (MAcc) graduates received an offer of employment within six months of graduation.
The MAcc core curriculum includes a balanced mix of financial reporting and accounting coursework. All courses are taught by the MBA faculty and fully integrated with the Ross School’s MBA program. Topics of study include auditing and assurance, advanced financial accounting, information systems design, financial instruments and structured finance, federal taxation, and corporate financial research and reporting. Students must also choose one core elective such as partnership tax, international tax, financial statement analysis, federal taxation, taxation of individual income, or ethics and negotiations for accountants. Students may count up to six non-Ross credit hours toward the MAcc degree in topics such as business law, securities law, intellectual property law, valuation, financial management and policy, or managerial writing fundamentals.
In addition to studying within the classroom, MAcc students also work with the Sanger Leadership Center and participate in two seminars that foster understanding of teamwork, ethics, leadership, and how to make a positive difference in today’s dynamic and complex world. They also participate in action-based learning via the EY Accounting and Public Policy Symposium and develop leadership skills as executive board members of the MAcc Student Association.
By integrating the eight-month MAcc program with the MBA program, students receive a broad-based, dynamic education that prepares them to be leaders in their fields. Graduates work in accounting forms but also pursue careers worldwide in industries such as non-profit enterprise, consulting, and investment banking. Upon graduation, alumni may access iMpact — an online networking system and career opportunity database. This resource allows students to find other alumni and search by company, industry, and other topics to find a list of recruiting companies in their areas of interest. iMpact also provides students with instant access to other career resources such as industry and company information, interviewing skills, negotiating guidelines, and career advice.
University of Michigan Accreditation Details
The University of Michigan is accredited by the Higher Learning Commission (HLC) within the North Central Association of Colleges and Schools (NCA). There are two primary goals of the accreditation process. First, to ensure that each school is offering rigorous programs and maintaining high-quality standards, but accreditation also works to promote improvement where institutions may be lacking. The HLC evaluates universities based on five criteria, each of which contains core components such as engagement and service, student learning and effective teaching, preparing for the future, integrity and mission, and the acquisition, discovery, and application of knowledge. The University of Michigan requests a review every 10 years to maintain its accreditation.
University of Michigan Application Requirements
Students wishing to pursue a Master of Accounting degree from the University of Michigan must meet the school’s graduation application requirements in order to be admitted to the program. Although admission is rolling, the school encourages early application. Students must submit a completed application, including official transcripts from all previously attended institutions, GMAT or GRE test scores, an outline of prerequisite course completion, a resume, references, and essays. In addition, prospective students are required to pay a nonrefundable application fee of $75 for applicants within the U.S. or $100 for prospective international students. International applicants must also pass the Test of English as a Foreign Language (TOEFL) within a minimum score of 100, earned within the two years prior to application. International students should keep in mind that the school does not accept test results from the International English Language Testing System (IELTS).
The Master of Accounting program is only offered full-time, and students cannot take longer than one year to earn the degree. Students may also not be enrolled in another certificate or graduate program, and no previous coursework may be transferred into the MAcc degree. The only graduate-level students who may apply are those who will not take duplicate coursework between current or previous coursework and the MAcc curriculum.
Tuition and Financial Aid
Full-time students will complete a total of 30 credit hours within one year in order to earn the Master of Accounting degree. Michigan residents can expect to pay an in-state tuition of $46,300, and non-Michigan residents will pay $51,300 for their degree. The school offers several types of financial aid, including federal and private loans, that can help to offset the cost of tuition, fees, food and housing, books and supplies, and certain personal expenses such as healthcare insurance. To determine eligibility, students must complete one Free Application for Federal Student Aid (FAFSA). Upon completion, all students are eligible for $20,500 per academic year in Federal Direct Unsubsidized Loans. In addition, the University of Michigan supports its veterans as a Yellow Ribbon school and offers in-state tuition status to all students who serve.
