Jun 17, 2024  
2021-22 NSU Graduate Catalog 
2021-22 NSU Graduate Catalog [Archived Catalog]

Accounting and Financial Analysis, M.S.

OSRHE Program Code: 130
CIP Code: 520304
Major Code: 1300


The MAFA program integrates the areas of accounting and finance. The program is rigorous with broad coverage in financial accounting, finance, information technology, management accounting, taxation, international business, and investment analysis. All students should enroll in Accounting and Finance Analysis Seminar I during their first fall semester in the MAFA program. Accounting and Finance Analysis Seminar II should be taken near the end of the program. The MAFA program will be attractive to individuals employed or interested in becoming employed as controllers, financial managers, public accountants, financial analysts, and financial planners. It is expected that applicants will have an undergraduate background in either accounting or finance.

The purpose of the program is to education and train accounting and finance professionals who

  • Use an analytical approach in problem solving and decision making.
  • Communicate effectively;
  • Have current, relevant, integrated knowledge in accounting, finance and business;
  • Understand the economic, social, political, legal, and technological environment of business in a global context;
  • Are prepared to be dynamic leaders and effective team members;
  • Are professional in their attitude and approach to a career; and
  • Appreciate the civic, social, and ethical responsibilities of business organizations and business professionals.

Specialty Accreditation

The Master of Science in Accounting and Financial Analysis program offered through the College of Business and Technology is accredited by the Accreditation Council for Business Schools and Programs (11520 West 119th Street, Overland Park, KS 66213, 913-339-9356). http://www.acbsp.org

Credential Requirements

To be professionally credentialed, students must achieve an acceptable score on a professional examination to receive the Certified Public Accountant license, Certified Management Accountant designation, or Chartered Financial Analyst® designation or other equivalent certification or specialist designation.

Student Learning Outcomes

  1. apply capital budgeting techniques to make a sound investment decision.
  2. apply the capital structure theories and financial concepts when making financial decisions.
  3. apply financial instruments in investments and hedging.
  4. understand the balance sheet elements.
  5. understand income statement elements.
  6. understand reporting of cash flows.

Admission, Retention, and Graduation

Admission. Admission to the Graduate College does not imply admission to the MAFA program. Beyond the admission requirements for the Graduate College, admission to the Accounting and Financial Analysis, M.S. requires:

  1. A sufficient background in business subjects. Students who have completed the undergraduate Business Core at NSU or equivalent courses are considered to have a sufficient background in business.
  2. An undergraduate major in either accounting or finance or have completed 15 hours of undergraduate courses in finance including Managerial Finance, Investments, and Securities Markets or fifteen hours in accounting including Intermediate I and II and Auditing or the equivalent with a “C” or better in each course.
  3. A Graduate Management Admission Test (GMAT) score, not more than five years old, that combines with the undergraduate grade point average (UGPA) to satisfy the following formula: GMAT ≥ Maximum of 400 or [1,050 - (UGPA x 200)]. Accordingly, the student’s GMAT score must add to the product of the undergraduate GPA and 200 to yield a total of at least 1,050. However, in no case may the GMAT score be less than 400.
  4. A vita detailing the applicant’s educational background, work experience, skills, awards, and achievements. The vita should be submitted directly to the MAFA Program Coordinator.
  5. Two letters of recommendation from individuals who either are or have served in a position of authority over the applicant. Preferably, one letter will be from an employer source and one letter will be from an academic source. These letters must be sent directly from the source to the MAFA Program Coordinator.

Since the capacity of the program is limited, a MAFA Admissions Committee consisting of three graduate faculty members, including the MAFA Program Coordinator, reviews each application and associated materials. The purpose of this review is to allocate the program’s capacity to those applicants who are most likely to be successful in the program. An applicant’s previous academic records, professional experience, recommendations, accomplishments and test scores will be assessed during the admission decision process. At the discretion of the MAFA Admissions Committee, an applicant may be requested to respond to clarifying questions by mail, e-mail, telephone, or in-person interview. Applicants who have submitted all required documentation will be notified of the admission decision by mail. The following schedule applies:

All Application Materials Must Be Received By Decision to be Mailed by
April 1 July 31
September 1 December 31
February 1 May 31

Advisement. The Graduate College assigns students an advisor upon admission to graduate studies. Initially, each student will be advised by the departmental coordinator of graduate studies from the student’s emphasis area.  It is the candidate’s responsibility to make an appointment with the advisor prior to enrollment to discuss policies and procedures relevant to the degree program. Conferring with the student, the advisor develops the plan of study, assists in the selection of classes, and counsels the student.

Retention and Graduation. The candidate for the Master of Science in Accounting and Financial Analysis must satisfy the following requirements:

  1. Continue to meet the Graduate College’s Retention Standards. See the Academic Information page for more information.
  2. Monitor degree progress using the degree audit system in the goNSU portal.
  3. Meet Graduate College policies detailed in Academic Information and Master’s Degree Requirements regarding GPA, minimum grades, coursework age, residency and institutional / state regulations governing degree conferral.
  4. Satisfactorily complete the capstone experience.

Accounting and Financial Analysis, M.S. - 30 hrs plus capstone experience

Required MAFA Courses - 15 hours

ACFN 5003 includes focused attention on program orientation and should be taken as early in the program as possible. ACFN 5363 requires substantial progress toward completion of the capstone experience and should be taken at or near the end of the program. Other program courses may be taken in any sequence.

Capstone Experience

The MAFA program requires a learning experience beyond the specified minimum number of courses. The capstone experience can be satisfied by making an acceptable score on a professional examination to receive the Certified Public Accountant license, Certified Management Accountant designation, or Chartered Financial Analyst® designation or other equivalent certification or specialist designation.

The capstone experience can also be satisfied by completing a business plan, research paper, thesis, 6 hours of additional coursework, or other synergistic experience. Generally, the capstone experience must be approved by the MAFA Program Coordinator and the Dean of the Graduate College. A capstone experience not involving an approved professional examination will also require the approval of an advisory committee, consisting of three graduate business faculty members, at least two of whom must be faculty who teach in the MAFA program.

Students who do not complete the capstone experience by the end of program coursework must enroll in ACFN 5711 under the MAFA Program Coordinator until the capstone experience is completed. Evidence of completing the capstone experience must be submitted to the Dean of the Graduate College at least thirty days before conferral of the degree.

Accelerated B.B.A. Accounting to M.S. Accounting and Financial Analysis

Note:  Please refer to Accelerated Bachelor’s to Master’s Degree Program   for complete information concerning the Accelerated Degree Program.  Refer to the current Undergraduate Catalog for bachelor’s degree requirements.


  • Students admitted to the Accelerated B.B.A. Accounting to M.S. Accounting and Financial Analysis degree program will complete up to 12 hours of graduate level credit to apply toward both the undergraduate and graduate degrees.
  • A minimum grade of C is required for all 5000 level graduate courses.
  • Students who do not follow the approved degree plan may become ineligible to continue in the accelerated degree program. 
  • Prior to completing the undergraduate degree, if the undergraduate GPA, graduate GPA and/or overall GPA fall below a 3.00, the student becomes ineligible to continue in the ADP.
  • Students may withdraw from an approved accelerated degree pathway.  Graduate credit hours completed prior to the student withdrawing or becoming ineligible to continue in the ADP apply toward the undergraduate degree only.