The Master of Accounting Program is taught on a module (Mod) schedule: two modules in the fall semester and two modules in the spring semester. A module is the equivalent of half a semester or 7 weeks. A module course is usually 1.5 credit hours.
The minimum number of credit hours required to graduate is 32. The MAC program curriculum is divided into three parts: core courses, tax or audit, and electives.
- Core Curriculum: 18.5 credit hours
- Tax Requirements: 7.5 credit hours
- Audit Requirements: 7.5 credit hours
- Elective Courses: 6.0 credit hours
The core courses are required of all students in the program. Those courses are as follows:
MAC 711 (2.5 credit hours)
Financial Reporting B examines the theoretical foundations of financial reporting, the environmental factors that affect accounting standard-setting and decision-making, and the mechanics of accounting for events and transactions that have an economic effect on the firm. Course participants will gain an understanding of the preparation of financial statements, as well as the skills necessary to interpret financial accounting information. Prerequisite: MAC 710.
MAC 714 (1.5 credit hours)
Financial Statement Analysis is the capstone course of the Financial Accounting sequence. It provides an applied perspective on analyzing firms’ financial statements using lectures and Harvard case studies. Key topics include earnings management, profitability analysis, credit analysis, predicting financial distress, pro-forma business modeling and industry analysis.
MAC 725 (1.5 credit hours)
Cost Accounting examines the application of cost accounting techniques and practices for manufacturing and service organizations. Special focus is given to the strategic context of cost system design and the application of cost accounting techniques to decision-making. The course uses cases to help students contextualize cost accounting topics and to understand the impact of cost accounting information on firm decision-making. Topics include cost accounting systems, strategic costing, activity-based costing, cost management systems, responsibility accounting and transfer pricing. Prerequisite: MAC 701.
MAC 730 (3.0 credit hours)
Auditing and Assurance Services offers a foundation in the external audit function and stresses the role and value of auditing in business. Students consider the effect of environmental factors and standards on auditors' judgments of client acceptance, risk assessment, planning, evidence gathering and reporting.
MAC 743 (1.5 credit hours)
Deloitte Corporate Taxation analyzes tax laws with respect to corporate formation, shareholder distributions, liquidations, divestitures, mergers and acquisitions.
MAC 775 (1.5 credit hours)
Professional Communication includes the following topics: active listening, interpersonal communication dynamics, strategic planning for writing and presenting, communication channel choice, visual rhetoric, credibility, and persuasion. This course offers customized instruction in small sections (20 students per section) to heighten students' self-awareness in various interpersonal settings and upgrade effectiveness in interacting with individuals or small groups.
MAC 776 (2.0 credit hours)
Leadership: Professionalism and Team Building in Today’s Diverse Business Environment directly develops the mission of the Master of Accounting Program to prepare students by utilizing an extremely high level of educational tools that will assure the ability to assume positions of leadership in the professional accounting environment, both public and private. To accomplish this objective, we believe it is necessary that our students’ education be well grounded in the latest research regarding inclusivity, leadership, professionalism and communication. This course is designed to provide an understanding of the essential skills of professionalism and team building which are requisites in today’s diverse, global business environment.
MAC 832 (2.0 credit hours)
Financial Research examines the theoretical foundations of financial reporting, the environmental factors that affect accounting standard-setting and decision-making, and the mechanics of accounting for events and transactions that have an economic effect on the firm. Course participants will gain an understanding of the preparation of financial statements, as well as the skills necessary to interpret financial accounting information. Prerequisite: MAC 710.
MAC 884A & B (1.5 credit hours for each course)
Leadership, Ethics & Professionalism I & II address ethical theories coupled with critical thinking approaches to analyzing ethical issues. These courses help students understand when they confront ethical issues and provide a mechanism for helping students think their way through to making ethical decisions. These courses provide a useful way to identify and understand the values they bring to bear in making important decisions with ethical components. In addition, students will develop critical managerial and leadership skills in the areas of communication, persuasion and influence, team leadership and decision-making. Students also will participate in a management simulation created specifically for accounting professionals and receive feedback on their performance from industry executives.
Students concentrating in tax have 7.5 credit hours of required tax coursework.
*Indicates tax courses that students, concentrating in audit, may take as electives.
MAC 740 (1.5 credit hours)
*Individual Income Taxation covers major tax compliance and policy issues inherent in individual taxation, including filing status, income, deductions, gains and losses, and credits. Prerequisite: MAC 700.
MAC 840 (1.5 credit hours)
Tax Research considers the diverse sources of tax law. Course participants learn to access electronic databases, analyze typical client situations and communicate research results. Prerequisite: MAC 740.
MAC 841 (3.0 credit hours)
International Tax focuses primarily on the U.S. tax laws applicable to individuals and business investing and operating businesses abroad. Specific international tax topics include jurisdiction, source of income, allocation and apportionment of deductions, foreign tax credit planning, anti-avoidance provisions and transfer pricing. The course also will introduce students to some of the basic concepts of multi-state income and sales & use taxation. Prerequisite: MAC 741.
MAC 842 (1.5 credit hours)
Taxation of Flow-Through Entities: Partnerships & SCorps analyzes tax laws related to partnerships, S corporations, limited liability corporations and other flow-through entities. Course participants discuss partnership formation, compensation and allocation of partnership income, transactions and changes in partnership interests, family partnerships, and S corporation and limited liability requirements. Prerequisite: MAC 741.
Students concentrating in audit have 7.5 credit hours of required audit and assurance services coursework.
*Indicates audit courses that students, concentrating in tax, may take as electives.
MAC 713 (1.5 credit hours)
*Accounting for Mergers and Acquisitions emphasizes the financial and economic aspects of mergers and acquisitions with a focus on the challenges of preparing financial statements for conglomerates with domestic and international subsidiaries. Prerequisite: MAC 711.
MAC 830 (1.5 credit hours)
Advanced Auditing provides an in-depth examination of technical auditing topics introduced in MAC 730 Auditing and Assurance Services. Topics include strategic risk analysis, corporate governance, internal control assessments, audit sampling and modified audit reports. Prerequisite: MAC 730.
MAC 833 (1.5 credit hours)
Applied Audit gives students the opportunity to experience working through an audit engagement with an engagement team. In order to complete the engagement successfully, students will be required to apply audit principles and standards learned in MAC 730 to this "real world" client engagement.
MAC 889 (3.0 credit hours)
*Accounting Information Systems introduces course participants to the technology and internal controls used in contemporary information systems to capture, process and communicate financial and managerial accounting data.
Both tax and audit students may take these courses. Students take at least 6.0 credit hours of electives.
MAC 703 (1.5 credit hours)
Contracts & Business Law will present an overview of the American legal system, the role of the courts, and regulation, litigation and constitutional issues. The primary purpose of this course is to introduce the student to the legal environment of business. NOTE: This course is required for all students, except UNC Chapel Hill undergraduate business majors.
MAC 707 (1.5 credit hours)
Advanced Spreadsheet Modeling focuses on using advanced features of Microsoft Excel to create efficient spreadsheet models of common business problems. It challenges students to use critical thinking and analysis to find effective solutions to real-life situations. Course topics include an introduction to problem-solving and decision-making, statistical analysis tools, determining effective data display with charts, applying logic in decision-making, locating and managing data with reference functions, evaluating the financial impact of loans and investments, organizing data for complex analysis, performing what-if analyses with data tables and scenarios, enhanced decision-making with goal seek and solver, and troubleshooting and customizing workbooks with visual basic programming and other advanced tools. NOTE: May not be repeated if taken at UNC Chapel Hill.
MAC 812 (3.0 credit hours)
Advanced Finance for Accountants: Description to come
MAC 825 (1.5 credit hours)
Applied Improvisation focuses on improving participants’ soft skills, such as presenting, expressiveness, and interviewing, through applying the principles and techniques of improvisational theater. Students also explore creativity, adaptation, awareness, self-confidence, risk taking, physicality, intuition, and teamwork. This course provides a safe and playful environment in which students can stretch their abilities and discover things about themselves and others that are crucial to success in business, theater, and elsewhere.
MAC 857 (1.5 credit hours)
Fair Value Methods & Reporting explains how and why the wealth and business decisions of auditors, consultants, CFOs, CEOs, investors, regulators and employees depend on a firm's past, present and future stock value. It will provide course participants with the theoretical and practical tools necessary to both value a firm and understand the valuation techniques used by other business professionals.
MAC 863 (1.5 credit hours)
Managing Workplace Diversity is designed to improve your awareness of the importance of effectively managing workplace diversity, not only as a social or moral goal, but also as a sound business practice—enlightened self-interest. Toward this end, the goals are to (1) increase your appreciation of your own cultural values; (2) heighten your sensitivity to the unique characteristics of other groups; and (3) thereby enhance your ability to manage people of diverse backgrounds.
MAC 866 (1.5 credit hours)
Intro to Derivatives and Securities Markets examines the economic fundamentals and inherent risk features of various financial instruments such as options and forward and futures contracts. Prerequisite: MAC 709. NOTE: May not be repeated if taken at UNC Chapel Hill.
MAC 869 (1.5 credit hours)
Behavioral Finance: There is an abundance of evidence suggesting that the standard economic paradigm - rational agents in an efficient market - does not adequately describe behavior in financial markets. This course will survey the evidence and use psychology to guide alternative theories of financial markets. The course will identify limitations to the ability of smart, profit-seeking agents to correct distortions caused by irrational investors. Then, it will examine more closely the preferences and trading decisions of individual investors and how they aggregate into observed market inefficiencies. The goal of the class is to apply an understanding of behavioral frictions in financial markets to value investment strategies and corporate finance decision-making.
MAC 875 (1.5 credit hours)
Agency and Unincorporated Business Associations covers agency law, property law, bankruptcy, partnerships, limited partnerships, limited liability companies, limited liability partnerships and limited-liability limited partnerships. Prerequisite: MAC 703.
MAC 876 (1.5 credit hours)
Corporations and Securities Regulations covers state law governing corporations and federal regulations of securities. Prerequisite: MAC 703.
MAC 877 (1.5 credit hours)
Commercial Law covers secured transactions (Article IX) and negotiable instruments (Article III) under the Uniform Commercial Code. Secured transactions and negotiable instruments are critical to commerce and the world’s economic system. Prerequisite: MAC 703.
MAC 880 (1.5 credit hours)
Negotiation addresses basic theories of good negotiation with a heavy focus on "Principled Negotiation" as advanced by professors Roger Fisher and Bill Ury. Also, students work extensively on effective techniques for planning and conducting negotiations. Specific topics include emotions, power, dealing with difficult people, persuasion and negotiation "tricks." NOTE: May not be repeated if taken at UNC Chapel Hill.
MAC 898A (1.5 credit hours)
Success in the U.S. Workplace Culture helps non-native English speakers refine their communication skills so as to be able to successfully: understand communication norms and best practices in U.S. culture, be understood by classmates, recruiters, potential colleagues (including partners) and clients, have confidence when communicating, regardless of the setting, communicate effectively during networking events and interviews, interact with clients with confidence and ease, and translate refined communication skills into increased number of job offers and success on the job. NOTE: This course is for non-native English speakers.