IMAcc: Integrated Master of Accountancy

The Integrated Master of Accountancy (IMAcc) degree is the fifth year of an integrated curriculum designed to meet the educational requirements for licensure as a certified public accountant.

Students are admitted to the IMAcc program in the spring of their junior year (Not an accounting major? Our Graduate Master of Accountancy may interest you).

Admission is limited to students in the undergraduate program at the University of Wisconsin-Madison or nearby schools that have developed agreements with the program (currently Carthage College). The graduate year is designed to build on an internship experience through in-depth study of accounting issues. The graduate year also provides students with some flexibility to promote breadth of knowledge across a number of business disciplines (e.g., accounting theory, auditing, taxation, information systems, applications, and policy and decision making). Careers as professional accountants in public accounting, financial institutions, government, industry, or nonprofit organizations are possible upon graduation.

About IMAcc-Taxation

The Master of Accountancy degree allows for a major in taxation and is designed for students preparing for a career in tax. Only students admitted to the IMAcc or GMAcc program are eligible for this major. The taxation program stresses in-depth study of tax law in a variety of areas, including business tax, individual and estate tax planning, multijurisdictional tax issues, and tax administration. The courses for the IMAcc-Taxation degree are closely integrated with law school tax offerings and, in many cases, are cross-listed with the law school. In addition, the IMAcc-Taxation degree requires additional courses in auditing, financial reporting theory, or consulting.

The application process for the IMAcc program is two-fold.

To apply for the IMAcc program in spring 2013, you will submit an e-application (details to follow on this process). If you are studying abroad in spring 2013, your application is due during October 2012 (attend the IMAcc information session for specifics). The due date for all other students is the last Friday in January of your junior year (this spring, that date is 01/25/13).

Following your admission to the program as an IMAcc candidate and at the start of your senior year, you will apply to the graduate school and complete a separate application process, which includes taking the GMAT exam and preparing certain additional essays/writings. The graduate school application is an online application and your contact for questions is Kristen Fuhremann at kfuhremann@bus.wisc.edu.

Prospective Students (Juniors) / Class Profile

You are strongly encouraged to attend Accounting Awareness (announced in AIS 100), The Future is Now (October of your junior year), the IMAcc Information Session (October of your junior year) and receive undergraduate advisement from the Wisconsin BBA Advisning Center, 3150 Grainger Hall, here at the Wisconsin School of Business. Further, each student is encouraged to be registered on BuckyNet.

The average GMAT score of the 2011 IMAcc graduating class was 640. The average GPA of the same class was 3.6.

Timetable

Applications are taken during January of your junior year. Once applications are received, you will be scheduled for a half-hour interview with one or more faculty members. The timetable is as follows:

Event Date

• pplications due to Departmental Office Late January*
• Admission Interviews with Faculty February
• Notification of Admittance Early March
• Interviews for Internship Monday/Tuesday Following Finals
• Notification of Internship Placement Early June

*If you plan on studying abroad, you need to contact the department early in the fall of your junior year and adhere to an alternate timetable.

Financial Aid

Financial aid is available from the following sources:

• Paid internship (spring of your senior year)
• Teaching assistant (TA) appointments or project assistant (PA) appointments in the graduate year (competitive; approximately 50% of all MAcc students received a TA or PA position in the last appointment period—i.e., for the 2010-2011 academic year)
• Scholarships (several IMAcc students that started in fall 2010 received scholarships in the graduate year totaling $80,000, in the range of $1,000–$5,000)

The paid internships yield a salary of approximately $6,000–$8,000. The competitive teaching assistantship and project assistantship appointments waive a semester of tuition (students teach for only one semester) and also pay a stipend of several thousand dollars.

Tuition Information

The current tuition and fees per semester (for the 2012–2013 academic year) for a business masters degree are as follows:

• $7,631.00 residents
• $14,594.00 non-residents