One-Year MAcc FAQs

What are the educational requirements to sit for the CPA exam?

The specific curriculum requirements vary state-by-state, but nearly every state, including Pennsylvania, now requires 150 credit-hours of college education.

Do I have to have a master's degree to sit for the CPA exam?

No, the 150 credit-hour requirement does not mean that you must earn a master's degree to become a CPA.

I'm not interested in earning my CPA license, but I would like to earn a master's degree. Is the MAcc Program still a good fit for me?

No. You would be better suited for another master's program, such as an MBA program.

What options are available to me at Penn State to get educationally qualified to sit for the CPA exam?

Smeal offers three paths that enable you to fulfill the 150-hour requirement. First, Penn State sophomores in the Smeal College of Business or the Division of Undergraduate Studies can apply to enter the Integrated Undergraduate-Graduate MAcc (“IUG MAcc”). If accepted into the IUG, you will complete your B.S. and M.S. degrees in Accounting in five year’s time at Penn State.

Second, you may seek admission to the One-Year MAcc after having earned your undergraduate degree from Penn State or another accredited institution.

Third, you can fulfill the 150-hour requirement by simply earning 30 additional credits beyond your undergraduate degree’s requirements without enrolling in a master’s program.

Application Questions

When will applications for the One-Year MAcc be accepted?

The Penn State Accounting Department is now accepting applications for the One-Year MAcc Program. You can apply anytime throughout the year and will select will select which year you are applying to on the application.

If you are currently a junior you should discuss your plans with Dr. Benjamin Lansford, MAcc Program Director, before submitting an application to the One-Year Macc Program.

Click here to visit The Graduate School's website and view the application.

When should I apply to the One-Year MAcc?

Seniors interested in the One-Year MAcc are encouraged to apply as soon as possible to receive a prompt indication of whether they are conditionally admitted to the program. As a senior, knowing whether you have been conditionally admitted will greatly assist you in choosing courses for the rest of your undergraduate studies. Conditional admits will be given a list of courses to complete as part of their undergraduate studies.

If you are currently a junior and interested in the program, please contact Dr. Benjamin Lansford, the MAcc Program Director, prior to applying to the program. Dr. Lansford will help map out your remaining semesters and discuss the program with you prior to applying.

Are there any courses that I have to have completed before beginning the One-Year MAcc Program?

Yes, there are six fundamental accounting courses that are prerequisites for entering the One-Year MAcc Program:

• ACCTG 211: Financial and Managerial Accounting for Decision Making
• ACCTG 403W: Auditing
• ACCTG 404: Managerial Accounting
• ACCTG 405: Principles of Taxation
• ACCTG 471: Intermediate Financial Accounting I
• ACCTG 472: Intermediate Financial Accounting II

If you have not completed some or all of these prerequisite courses, they are offered at Penn State during the summer prior to the start of the One-Year MAcc Program. Alternatively, you can take the equivalents of these courses at another university.

I'm currently a junior/senior and I am interested in the One-Year MAcc Program. What classes should I take before I finish my undergraduate degree?

Juniors and seniors intending to pursue the One-Year MAcc should avoid scheduling courses that are duplicative of the One-Year MAcc curriculum (see table below) as part of their undergraduate studies.

Juniors and seniors conditionally admitted to the One-Year MAcc must not schedule courses that are duplicative of the One-Year MAcc curriculum as part of their undergraduate studies.

Applicants are advised to consult with Dr. Benjamin Lansford with questions regarding undergraduate course selections.

What is the One-Year MAcc's tuition?

There is no in-state tuition rate for the One-Year MAcc. The tuition for the One-Year MAcc is listed on Tuition Information Page.

It is possible for accounting juniors and seniors to meet the 150 credit-hour requirement without receiving a Master's degree or any other graduate degree. In the case of a Pennsylvania resident, the tuition cost of taking additional undergraduate courses, that can be used to satisfy the 150 credit-hour requirement, but which are beyond those required to meet the Bachelor of Science degree in accounting, may be significantly less than the cost of enrolling in the One-Year MAcc Program.

When I apply, how will I know when you've received all of my materials?

You will receive an email from the Accounting Department informing you that your application is complete once we receive all of your materials (GMAT Score, TOEFL Score, Official transcripts, and at least two reference letters).

Your application will only be reviewed by the Admissions Committee once it is complete, so it is important to send your materials to us in a timely manner.

I am a current or past Penn State student. Do I need to have official transcripts sent to your department?

No. Current or past Penn State students do not need to have transcripts sent to our office. Also, if you took courses at another institution and transferred them into Penn State, you do not need to obtain a transcript from the other institution as it would already be on file.

I am an international student in the process of obtaining my Bachelor's degree, but have not graduated yet. Am I exempt from the TOEFL requirement?

No. All international students are required to submit a TOEFL score, unless they have already received their bachelor's degree in the United States. You must still submit your TOEFL score if you have not already graduated. This requirement will not be waived.Application Questions

I am an international applicant. For the English-language proficiency requirement, are IELTS scores accepted in lieu of TOEFL scores?

Please refer to the Penn State Graduate School for information about TOEFL/IELTS requirements.