Admission to any graduate program is contingent upon admission to the Graduate School; for requirements; see Admission to the Graduate School. In addition, applicants to the M.S.T. program must comply with the following:
Admission to the Master of Science in Taxation program is limited to holders of baccalaureate degrees from regionally accredited institutions who demonstrate high promise of success. Several measures of probable success that may be included in the evaluation of an applicant include but are not limited to:
1. Performance on the Graduate Management Admission Test (GMAT); see above, under `Master of Business Administration.'
2. Undergraduate grade point averages and the trend of grades earned during undergraduate education.
3. Licensure and certifications, such as bar admission and certification as a Certified Public Accountant.
4. Other relevant factors such as employment and leadership experience.
The M.S. in Taxation Committee is authorized to review the credentials of each applicant. This Committee is composed of the Chairperson of the Department of Accounting, the Director of the M.S. in Taxation Program, one other member of the graduate faculty of the University, and two representatives of the professional community; it is chaired by the Assistant Dean for Student Services. Final approval of the applicant's admission to graduate study in taxation is authorized by the Dean of the School of Business Administration or the Dean's designee, upon recommendation of the M.S. in Taxation Committee. Appeals of an admission denial must be made in writing to the Director of the M.S. in Taxation Program, School of Business Administration. A copy of the Guidelines for formal appeals is available in the School's Office of Student Services.
Before an applicant can be considered for admission, the following material must be timely submitted:
1. a completed W.S.U. Application for Graduate Admission;
2. an official transcript from each college or university previously attended by the applicant;
3. an official notification of the applicant's score on the GMAT and, if required, the TOEFL. (For information regarding the GMAT, see above, under `Master of Business Administration.')
4. a photocopy of each professional license or certification held by the applicant;
The M.S. in Taxation degree program requires the completion of thirty credits in final-program course work with a grade point average of not less than 3.0. Degrees are granted upon recommendation of the faculty of the School of Business Administration. Consideration is given to both scholastic achievement and the extent to which the candidate has met the standards and requirements of the School. All course work must be completed in accordance with the regulations of the Graduate School and the School of Business Administration governing graduate scholarship and degrees; see Academic Regulations and Academic Regulations of the School of Business Administration. University policies on transfer of credits from other institutions will apply.
The M.S. in Taxation program consists of five categories of courses, as follows:
Foundation Courses are background courses which are required but do not generate credit toward the M.S.T. degree. Applicants who have already earned a degree in business administration or accounting will usually be able to waive most, if not all, of the foundation courses.
Core Courses are five courses providing in-depth coverage of the body of knowledge associated with studies in taxation and tax policy.
Cognate/Concentration Courses are two additional required courses. The choice of these two courses depends on the area of concentration selected by the student.
Electives: M.S. in Taxation students will generally complete six or seven elective credits (two or three courses).
Capstone Course: When nearing the conclusion of the M.S. in Taxation program, the degree candidate will take ACC 7998, Seminar in Tax and Accounting Policy.
The M.S. in Taxation is an advanced degree. Before progressing to the core courses of the program, the student should possess a solid foundation in accounting and economics, as follows:
However, if the applicant's business administration or accounting degree is from a college or university located outside of the United State, some or all of the foundation requirements may not be able to be waived as U.S. generally accepted accounting principles (US GAAP) and/or U.S. tax principles and rules may not have been studied.
The graduate level foundation courses listed above are open only to students who have been formally admitted to a graduate program at Wayne State University. Analogous courses offered at the undergraduate level may be taken to satisfy foundation requirements prior to graduate admission. However, once a student has been formally admitted to the M.S. in Taxation program, NO graduate credit will be allowed for subsequent registration in undergraduate courses.
A cumulative grade point average of 3.0 (`B') is required in foundation requirements courses. No individual grade below `C' (2.0) is acceptable. All foundation requirements must be completed before a student begins Cognate/Concentration courses or Elective courses. Students may begin taking Core courses during the last semester in which they elect Foundation Requirements, subject to the prerequisite and corequisite requirements of the Core courses.
The following five Core courses are required of all students, and all are prerequisites or corequisites to students' work in elective courses:
For students who have completed undergraduate, graduate and law courses equivalent to Core courses, within the preceding three years with a grade point average of 3.0 or above, one or more advanced courses in taxation may be substituted for Core courses, at the discretion of the M.S.T. Committee.
Regular Program and Special Program: Once a student completes the Foundation Requirements and begins the Core Requirements, he/she must select either the regular M.S.T. program (with a concentration in accounting and taxation), or a special M.S.T. (which includes approved Cognate courses in economics or political science). The special program option must be selected before completion of twelve credits in course work at the 7000 level or above.
Concentration in Accounting and Taxation: Most students will find that the regular M.S.T. program, with a concentration in accounting and taxation, to be the most responsive to their professional needs. Unless a special program involving a cognate area of study is selected by the student before completion of twelve credits in course work at the 7000 level or above, the student will be expected to follow the regular program. Students in the regular program select at least two of the following six concentration courses:
Cognate Area of Study: Some students, such as those with a strong background in the social sciences, may earn an M.S. in Taxation in a cognate area other than accounting. In such cases at least two but no more than four courses may be taken outside of the accounting, taxation, and law disciplines. The following courses are required for students who wish to earn the M.S. in Taxation in the Public Administration cognate area.
At least two electives are required of all M.S. in Taxation students. A student who has completed the foundation requirements and at least two core courses may begin to take elective courses. Advanced graduate courses in taxation offered by the Accounting Department, such as the five accounting and taxation concentration courses listed above, may be elected without approval of the student's adviser. Electives outside of the field of taxation, as offered by the Accounting Department, require approval of the adviser; electives from outside the School of Business Administration must also be approved by the school or college offering the courses.
A student may elect Law School courses with the approval of his/her adviser and the Director of Graduate Studies of the Law School. Students should be aware that registration for Law School courses takes place earlier than for the School of Business Administration and the rest of the University, and that the Law School calendar and the regular University calendar also differ. Students should consult the Law School regarding courses, schedules, and calendar, and see Calendar, Law School, 2006-2008.
ACC 7998, Seminar in Tax and Accounting Policy, is the capstone course for all M.S. in Taxation degree candidates; it must be elected as part of the final nine credits in the student's program, and only after completion of at least four Core courses. ACC 7998 provides the opportunity to combine concepts developed by students in their professional and educational experience with economic, social, industrial, administrative, and legislative policy considerations.