Penn State Smeal to merge accounting analytics into Master of Accounting program

UNIVERSITY PARK, Pa. — The Penn State Smeal College of Business has announced plans to merge its Master’s in Accounting Analytics (MAA) program with its Master of Accounting (MAcc) program beginning in fall 2024. 

The integration of the MAA program into the MAcc curriculum is designed to elevate the program’s analytics content in response to industry shifts precipitated by recent technological advances. 

The merger will enhance students’ proficiency in managing and interpreting vast quantities of data, providing a strong foundation in quantitative methods, management science and predictive analytics, according to Scott Collins, director of the one-year Master of Accounting program. This will align graduates with the demands of modern accounting roles, which are heavily reliant on “big data.” 

“The transformed MAcc curriculum represents a fundamental shift in our approach and allows us to deliver a cutting-edge educational experience,” Collins said. “The field of accounting is rapidly changing and now requires the adoption of a data-driven mindset. Our transformed curriculum will prepare graduates to meet the demands of the accounting profession." 

The updated STEM-designated MAcc program begins in the fall and can be completed in one year. During the spring semester, students will complete an internship to bridge the gap between academic learning and real-world application, offering invaluable experiences for networking, industry exposure and professional development. 

A STEM (science, technology, engineering and math) designation means that MAcc achieves the definition set forth by the U.S. Department of Homeland Security and is a testament to the quality and rigor of the program. The designation also allows international graduates on F-1 visas to work in the United States for an additional 24 months via the extended Optional Practical Training, totaling 36 months. This extended duration and designation is attractive to employers interested in hiring international students. 

According to the National Center for Science and Engineering Statistics, STEM workers had median wage and salary earnings of about $64,000, higher than the $40,000 earned by those working in non-STEM occupations.   

"Penn State Smeal's MAcc program offers a core set of courses aimed at providing students with relevant data analytics skills. Additional analytics-focused elective courses are offered to help students supplement their core knowledge and hone their analytic skills," Collins said. 

"Data sets are becoming increasingly large and complex. In fact, approximately 120 trillion gigabytes of data are currently being generated each day. The ability of an accounting graduate to efficiently transform and analyze a large data set is a skill that can help a corporation explore patterns and anomalies in its data, with the goal of using these insights to generate additional revenue and streamline costs. In addition, a well-trained accounting graduate can also apply their data analytics skills in the core accounting functions of audit, tax and consulting.” 

The updated curriculum also includes additional accounting courses for graduates to meet the certified public accountant (CPA) licensure requirements in Pennsylvania and neighboring states, significantly expanding their professional opportunities. 

Becoming a CPA opens doors to opportunities not only in accounting firms, but also across the business landscape. A master’s degree in accounting prepares students to enter careers in public accounting, as well as corporate finance, financial analysis and law enforcement. 

Pennsylvania’s CPA standards require a bachelor’s degree and 150 total education credits including 24 credits in accounting or other select business areas. Other states, like New York, require 33 credits. 

The program changes ensure that graduates are well-prepared to meet the varying requirements across states, Collins said.

Applications are now being accepted for Fall 2024. To learn more or apply, visit the Smeal Master of Accounting program website.