Accounting & Business Advisory Services M.S.
Degree: Master of Science
https://www.towson.edu/cbe/departments/accounting/programs/accounting-business-advisory/
Program Director: Charles J. Russo
Phone: 410-704-5336
Email: crusso@towson.edu
The Master of Science in Accounting and Business Advisory Services at Towson University is a joint program with the University of Baltimore. Graduates of the Master of Science in Accounting and Business Advisory Services program will have the necessary background in accounting and analytics to pursue careers in accounting, auditing, taxation, or management consulting.
The M.S. in Accounting and Business Advisory Services received STEM designation from the Department of Homeland Security. STEM refers to programs in Science, Technology, Engineering, and Mathematics disciplines. Data analytics, financial analysis, information systems, and quantitative analysis are integral to the higher-level skills impacting the accounting profession. STEM designation allows graduates of the program with F-1 visas to remain in the United States an additional 24 months under the optional practical training STEM extension. TU’s accounting and business advisory services M.S. receives STEM designation – Business Dialog (towson.edu)
This program is designed to meet the following learning objectives:
First, when combined with a bachelor’s degree in accounting, the program allows students to earn the additional units necessary to meet the education requirements to sit for the Uniform Certified Public Accountant (CPA) exam in Maryland and many other states. The CPA exam includes four sections consisting of three core sections and one discipline section. The three core sections of the CPA exam are:
- Financial Accounting and Reporting (FAR)
- Auditing and Attestation (AUD)
- Taxation and Regulation (REG)
Discipline Section (4th Section): CPA exam candidates select one discipline section from the following:
- Business Analysis and Reporting (BAR)
- Information Systems and Controls (ISC)
- Tax Compliance and Planning (TCP)
Students planning to take the CPA exam will be best served by a program of study, such as our Bachelor of Science in Accounting and this graduate program, that emphasizes the same subject matter as the exam. The combined BS and MS degrees align with the AICPA Model Curriculum.
Second, by incorporating courses in the related disciplines of data analytics, financial management and information technology, the program complements and expands the technical skills acquired in an undergraduate accounting education.
Graduates of the Master of Science in Accounting and Business Advisory Services program will have the flexibility needed to accelerate their public accounting careers or pursue careers in other areas such as management accounting, internal auditing, accounting for governmental or other nonprofit entities, and management consulting.
NOTE: Since this program is jointly operated with the University of Baltimore, the tuition, fees and grading system for students are the same as at the University of Baltimore. Contact the Student and University Billing Office for more information.
Maryland CPA Education, Exam, and Licensure Requirements
To qualify to become a candidate and sit for the Uniform CPA Examination, applicants must satisfactorily complete 120 semester hours or 180 undergraduate quarter hours or the equivalent. Thirty (30) semester hours or 45 quarter credit hours in Group I, which requires 27 semester or 41 quarter credit hours, must be in accounting and related subjects, and three semester credit hours or 4.5 quarter credit hours must be in ethics. An applicant must have received baccalaureate or higher degree that meets the following requirement: a major in accounting on the baccalaureate level, or its substantial equivalent, from an institution that is a member of the Association to Advance Collegiate Schools of Business or the Accreditation Council for Business Schools and Programs, is accredited by or is a constituent of an institution accredited by the Middle States Association of Colleges and Schools or the equivalent regional accrediting association for other regional areas, or is recognized and approved by the Board.
Further, to obtain a license as a CPA, an applicant must have completed the requirements of Group II Business related education as described below.
GROUP I - Accounting and Ethics Education
An applicant must have successfully completed 30 undergraduate semester credit hours in accounting and ethics subject matter. Applicants must have completed the following: one 3-semester credit hour course each in auditing, accounting information systems, U.S. federal income tax and accounting or business ethics; a minimum of nine semester credit hours in financial accounting; and a minimum of nine semester units in elective accounting courses.
GROUP II - Business-Related Education
Courses from the list of subjects below must be completed to meet the business-related educational requirements to qualify for a license. At least 3 undergraduate semester credit hours in business law and 18 undergraduate semester hours in at least in five of nine subject areas. These subject areas are: statistics, economics, corporation or business finance, management, marketing, data analytics, business communication, information technology/systems, quantitative methods, or other business-related content areas included in the Uniform CPA Examination Blueprints.
Requirements for CPA Licensure in Maryland
Maryland offers multiple CPA licensure pathways. Traditional options include a baccalaureate degree with an accounting concentration plus 30 additional units, or a post-baccalaureate degree with an accounting concentration; both require passing the CPA Exam and 1 year of qualifying experience. Effective October 1, 2026, Maryland will add a new optional pathway allowing licensure with a baccalaureate degree with an accounting concentration, passage of the CPA Exam, and 2 years of qualifying experience.
Three Pathways to the CPA Licensure
- New Pathway: A Baccalaureate Degree with an accounting concentration + 2 years of qualifying experience + passage of the CPA Exam
- Post-baccalaureate degree with an accounting concentration + 1 year of experience + passage of the CPA Exam
- Baccalaureate degree with an accounting concentration + 30 units + 1 year of experience + passage of the CPA Exam
- How to Obtain your CPA License
- Maryland Board of Public Accountancy - Division of Occupational and Professional Licensing - Maryland Department of Labor
- The full 9th Edition of the UAA is located here: Uniform Accountancy Act 9th Edition (PDF)
Accelerated Bachelor's-Master's Program
The accelerated bachelor's-master's program allows qualifying undergraduate accounting majors to take up to 9 units of graduate-level courses that can be counted toward both the undergraduate and graduate degree programs. In the BS degree, these 9 graduate units will replace the two upper-level accounting electives and the open elective (Accelerated Bachelor’s-Masters Accounting Program).
To be admitted to the accelerated bachelor's-master's accounting program, students must be an accounting major with at least one term of residency at Towson University and have an overall GPA of at least 3.0.
Admitted accounting majors may apply for the accelerated Bachelor’s-Masters Accounting Program during their junior year and be admitted prior to their senior year. A bachelor's degree is awarded after all the bachelor's degree requirements are met, normally in the fourth year. Students in the accelerated program must apply for admission to the MS in Accounting and Business Advisory Services in the same semester they apply for graduation from the BS degree. When applying to the MS degree, the GMAT is waived for students who complete the accelerated bachelor's-master's program.
Admission Requirements
Application deadlines and a full listing of materials required for admission can be found on the website.
Prerequisite Courses
Students must have a B.S. in Accounting from an AACSB Accredited Institutions or have taken the following courses:
| Code | Title | Units |
|---|---|---|
| ACCT 341 | MANAGEMENT ACCOUNTING I | 3 |
| ACCT 361 | TAX ACCOUNTING I | 3 |
| ACCT 505 | ACCOUNTING ESSENTIALS | 1.5 |
| ACCT 510 | INTERMEDIATE ACCOUNTING I | 3 |
| ACCT 511 | INTERMEDIATE ACCOUNTING II | 3 |
| ACCT 512 | AUDITING/ACCOUNTING INFORMATION SYSTEMS | 3 |
| ACCT 513 | INTERMEDIATE ACCOUNTING III | 3 |
Degree Requirements
Completion of a minimum of 30 units beyond the undergraduate degree of which a minimum of 18 units should be in 600-level courses or above designed primarily for graduate students. (This is an AACSB requirement.)
| Code | Title | Units |
|---|---|---|
| Required Courses 1 | ||
| ACCT 624 | FINANCE AND ACCOUNTING ANALYTICS | 3 |
| ACCT 680 | TAXATION OF ENTITIES | 3 |
| ACCT 720 | DESIGN OF MANAGERIAL COST AND CONTROL SYSTEMS | 3 |
| ACCT 740 | ADVANCED TOPICS IN ASSURANCE SERVICES 1 | 3 |
| ACCT 752 | ADVANCED TOPICS IN ACCOUNTING SYSTEMS 1, 2 | 3 |
| FIN 605 | FINANCIAL MANAGEMENT 1 | 1.5 |
| FIN 625 | CORPORATE FINANCE 1 | 1.5 |
| Other Electives | 12 | |
| Select four of the following: | ||
Accounting 3 | ||
| DATA SCIENCE TOOLKIT I | ||
| DATA SCIENCE TOOLKIT II | ||
| FINANCIAL STATEMENT ANALYSIS | ||
| LAW AND PROFESSIONAL RESPONSIBILITY | ||
| TAX POLICY | ||
| INDEPENDENT RESEARCH IN ACCOUNTING | ||
| GRADUATE ACCOUNTING INTERNSHIP | ||
| ACCOUNTING ETHICS | ||
| FEDERAL AND STATE GOVERNMENT ACCOUNTING | ||
| VISUAL BUSINESS INTELLIGENCE | ||
| FINANCIAL STATEMENT ANALYTICS AND VALUATION | ||
| FORENSIC ACCOUNTING | ||
| GOVERNMENTAL AND NOT-FOR-PROFIT ACCOUNTING | ||
| SEMINAR IN CURRENT TOPICS IN ACCOUNTING | ||
| SUSTAINABILITY ACCOUNTING | ||
| NETWORKING AND TELECOMMUNICATIONS 6 | ||
| DATABASE MANAGEMENT SYSTEMS 6 | ||
Applied Information Technology (TU Courses) 4 | ||
| INFORMATION TECHNOLOGY INFRASTRUCTURE | ||
| SYSTEMS DEVELOPMENT PROCESS | ||
| INFORMATION SYSTEMS VULNERABILITY AND RISK ANALYSIS | ||
| NETWORK SECURITY | ||
| DATABASE MANAGEMENT SYSTEMS | ||
Economic Analytics (TU Courses) 4 | ||
| INTRODUCTION TO ECONOMETRICS | ||
| COMPUTATIONAL ECONOMICS | ||
| MACHINE LEARNING FOR ECONOMICS | ||
Electronic Business and Technology Management (TU Courses) 4 | ||
| INTRODUCTION TO SUPPLY CHAIN MANAGEMENT | ||
| INTRODUCTION TO PROJECT MANAGEMENT | ||
| PROJECT LEADERSHIP AND COMMUNICATION | ||
| SUPPLY CHAIN ANALYTICS | ||
Finance (UB Courses) 6 | ||
| FINANCIAL REPORTING | ||
| INVESTMENT ANALYSIS | ||
| GLOBAL FINANCE | ||
FIN 724 | APPLICATIONS OF BUSINESS ANALYTICS AND MACHINE LEARNING | |
| RISK MANAGEMENT | ||
| BUSINESS VALUATION | ||
| SPECIAL TOPICS IN FINANCIAL MANAGEMENT | ||
Professional Writing (TU Course) 4 | ||
| BUSINESS WRITING | ||
| Total Units | 30 | |
Other graduate courses in areas such as applied information technology, economics, management, marketing, etc., may also be chosen after consultation with the graduate director depending on the student’s career goals and professional needs.
- 1
Courses offered at Towson University and University of Baltimore.
- 2
INSS 605-IT for Business Transformation, offered by University of Baltimore, may be substituted.
- 3
Additional courses are available from University of Baltimore. Consult with the Program Director to determine if they are appropriate for you.
- 4
Courses offered at Towson University only.
- 5
Available as an elective only to students who have not taken an equivalent course in their undergraduate program.
- 6
Courses offered at University of Baltimore only.
CPA Examination
A student must have also completed the specific courses required to sit for the Certified Public Accountant examination in Maryland, which would normally be taken during the student’s undergraduate studies (see Prerequisite Course section). A student who has not completed these courses prior to admission to the M.S. in Accounting and Business Advisory Services program will develop a plan to satisfy these requirements in consultation with the graduate director. This can be expected to add to the total number of units needed to earn the degree.
Goal 1: Analytical and Critical Thinking Skills
L.O 1.1 Graduates will understand and apply the regulatory environment surrounding the accounting profession, as it pertains to external reporting.
L.O. 1.2 Using accounting and finance data analytics techniques, Graduates will use financial analysis to solve business problems and recommend actions that maximize shareholder value.
L.O. 1.3 Using accounting and finance data analytics techniques, Graduates will evaluate cost and control systems for their effectiveness in measuring performance.
Goal 2: Research Skills
L.O. 2.1 Graduates will use appropriate professional research sources in investigating financial accounting reporting practices.
Goal 3: Application of Information Systems & Technology
L.O. 3.1 Graduates will use advanced technology and data analytics tools to understand companies internal controls and recommend improvements.
Goal 4: Ethical Perspective
L.O. 4.1 Graduates will identify and analyze ethical dilemmas and recommend appropriate resolutions.
Professional Standards of the AICPA including the Audit and Attest Standards, Compilation and Review Standards, Tax Standard, Code of Professional Conduct, Valuation Standards, Forensic Services Standards, and Consulting Standards.
Goal 5: Effective Communications Skills
L.O. 5.1 Graduates will prepare an effective written report, using appropriate data, analysis and conclusions generated from accounting and auditing data analytics techniques.
NOTE: Since this program is jointly operated with the University of Baltimore, the tuition, fees and grading system for students are the same as at the University of Baltimore. Contact the Student and University Billing Office for more information.