Accounting & Taxation

Master of Science

The Master’s in Accounting and Taxation (MSAT) is a graduate degree program for those individuals who wish to enhance their knowledge in the areas of tax and accounting. Our MSAT curriculum places an emphasis on real-world applications, particularly in response to the new landscape of accounting since the corporate crisis of the 21st century and will prepare you for a career in the public or private sector.

This rigorous program builds upon an undergraduate degree in accounting, providing the technical skills needed to provide tax and business advice in the private sector. The AIC program is also structured to allow individuals who do not hold undergraduate degrees in accounting to take the program and be successful. Our graduates are prepared to enter the professional world of consulting, and many of our students elect to take the CPA examination upon completion of our MSAT graduate program.

Learning Outcomes for Master’s in Accounting and Taxation (MSAT)
The following are learning outcomes for successful completion of the Master’s in Accounting and Taxation (MSAT). Students will be able to:

  • Critique problems in business situations
  • Formulate plans based on integrated business theory and practice
  • Apply quantitative techniques to make better financial decisions
  • Create effective written documents
  • Compose and deliver clear, compelling oral presentations
  • Interact professionally as members of teams
  • Critique social responsibility issues in business contexts
  • Differentiate plans based on cultural/global differences

The School of Business, Arts & Sciences at American International College have received specialized accreditation for its business programs through the International Accreditation  Council for Business Education (IACBE) located at 11374 Strang Line Road in Lenexa, Kansas.

School of Business Administration Accreditation Status

Report of Outcomes Assessment Results

To see a report of student learning and program assessment please view the International Accreditation Council for Business Education’s Interim Quality Assurance Report.

Graduation Rates

Please view this report to see graduation rates for this program.

In the classroom. In the workforce.

What You’ll Learn

This program prepares you to work with financial information — to measure it, analyze it, and communicate it to others. Since accounting is the basic “language” that every business and organization uses, it’s a degree that gives you substantial career options and opportunities for advancement.

Future Studies

As U.S. tax laws, financial statements, and auditing standards become more complex, people with Accounting degrees take on increasingly vital roles in the business world, and with the MSAT you’ll be well-prepared to pursue a Masters of Business Administration (MBA) degree.

Career Opportunities

As a graduate of the program, you’ll have the skills and knowledge needed for a variety of advanced degree programs and careers, including public accountant, managerial accountant, government or healthcare accountant, and many others.

Six Core Courses (18 credit hours)

A student must successfully complete a total of 10 required courses for a total of 30 credit hours.

  • ACC5205: Advanced Accounting I – Consolidations, International and Partnerships
  • ACC5225: Advanced Accounting II – Governmental and Non-for-Profit
  • ACC5305: Tax I
  • ACC5325: Tax II
  • LAW5202: Contemporary Issues in Business Law
  • ACC6999: Seminar in Contemporary Accounting Issues (Capstone Course)


Four Elective Courses (12 credit hours)


  • ACC5300: Managerial Accounting
  • ACC5505: Advanced Issues of Partnership and Corporate Taxation
  • ACC5605: Fraud Examination
  • ACC6610: Business Valuation
  • ACC6650: Prevention and Detection of Fraud in Financial Reporting
  • ACC5510: Managerial Tax Planning
  • ACC5515: Employee Benefits and Retirement
  • ACC5610: Computer Security and Audit
  • ACC5520: Estate and Gift Taxation
  • ACC6630: Controllership
  • ACC6640: International Taxation and Accounting
  • One, and only one, 5200 level or higher non-accounting elective.


Preparatory Accounting Courses

Candidates for the MSAT degree program who qualify for admission but lack appropriate preparation courses in accounting, economics, finance, management, marketing, or statistics, are required to complete the business foundation as determined by the graduate advisor. Students with an undergraduate major in a business discipline are typically exempt from these courses. In addition, all degree candidates must complete the following accounting foundation courses:

  • ACC5000: Principles of Accounting
  • ACC5001: Intermediate Accounting I
  • ACC5010: Intermediate Accounting II
  • ACC5013: Auditing
  • ACC5020: Cost Accounting

All Courses

This course is a study of advanced accounting principles and practices. Topics include mergers and acquisitions, partnerships, international accounting and foreign currency transactions, and other topics of an advanced nature.

This course further studies advanced accounting principles and practices as they relate to nonprofit entities, including municipal governments, hospitals, universities, and voluntary health and welfare organizations. Current topics in accounting are also discussed.

This course examines the Federal Income Tax Law and Regulations as they relate to individuals. Topics covered include calculation of gross income, business and personal deductions, tax computations and tax credits. Practical problems and preparation of returns are also discussed.

This course continues the study of the Federal Income Tax Law and Regulations. Topics covered include basis and determination of gain or loss, capital gains and losses, regular and S corporations, partnerships and research methods in taxation.

Topics covered in this course include development and function of common law; policy considerations; judicial procedure; survey of criminal law, torts, and contracts; Uniform Commercial Code as it relates to sales, commercial paper, and secured transactions; survey of agency; the formation, management, and financing of partnerships, corporations, and other business entities.

This course familiarizes the student with the resources available to the professional in the areas of financial reporting and taxation. The hierarchy of the sources of generally accepted accounting principles is discussed in the financial reporting area, while the Internal Revenue Code, regulations, rulings, and court cases are covered in the taxation area. The primary focus of the course is the completion of a major research project to serve as a capstone to the students study in the Master of Science in Accounting and Taxation program.

This course studies accounting as it pertains to the needs of management; principally planning, controlling and decision making. Topics covered include: financial statement analysis; funds flow; cost terms, concepts, classifications, and behavior patterns; cost-volume-profit relationships; job order, process and standard costing; flexible budgets, profit planning, non-routine decision-making; pricing; and capital budgeting.

This course examines the various forms of business entity and the tax implications of each. Covered forms of business include C Corporations, S Corporations, Partnerships and Limited Liability Companies. The course also covers the formation, operation and liquidation of each, with particular emphasis on comparing and contrasting the strengths and weaknesses of each.

This course will develop an understanding of the elements of fraud and financial crimes, including fraud prevention, detection and investigation. It will examine consumer fraud and fraud against organizations.

This course brings out the interrelationships between business operations and tax liability. Emphasis will be placed on an understanding and appreciation of tax factors in everyday decision making, tax planning, and possibilities of legitimate tax avoidance. Topics also include: definition of a corporation for tax purposes; tax problems incident to the formation of a corporation; survey of tax problems; and planning in the areas of nonliquidating distributions, redemptions, liquidations, accumulated earnings, compensation and fringe benefits, and gratuitous transfers of property.

This course is an introduction to the tax treatment of deferred compensation arrangements covering the formation and operating requirements of pension, profit sharing and stock option plans. Qualified plans, including Defined Benefit and Defined Contribution, are covered as well as 401(K), SIMPLE, and Simplified Employee Plans, as are non-qualified deferred compensation arrangements. Individual Retirement Accounts, both Roth and regular, are also discussed.

Types of controls are identified and their effectiveness is evaluated. Emphasis is on the prevention and detection of both intentional and unintentional computer abuse. Existing and proposed legislation in this area will be discussed.

This course is a study of the federal system of estate and gift taxation. Topics include calculation of the gross estate, utilization of the unified credit, wealth transfer planning, income taxation of estates and trusts, and the responsibilities of executors, administrators, and trustees.

This course is designed to give the student a comprehensive understanding of business valuation processes through top to bottom analysis of firm characteristics using various valuation techniques. These include the income, asset, and market approach. The course will also cover capital budgeting techniques as they apply to the valuation process. These include weighted average cost of capital, the capital asset pricing model, and the build up method. The course will use case studies and current examples of valuations to illustrate current trends in this field.

This course is a study of the function and approach to the problems of collecting, analyzing and presenting information to be used by corporate executives in making decisions governing company plans and policies. It shows how the controller can supply a reliable fact basis for the planning, direction, coordination, and control of the company organizations.

This course enables the student to understand current accounting and reporting systems of various countries. The international dimensions of accounting for multinational organizations and attempts to harmonize diverse accounting and reporting systems will be discussed.

This course will examine the various types of fraud that involve accounting information, financial fraud related to major business processes, as well as the common techniques used to assess the risk of financial statement fraud. Specific topics may include off balance sheet financing, fraudulent sales, asset valuations, conditional sales, understatement of liabilities, income-smoothing and expense capitalization.

This course continues the study of basic concepts and principles, as well as accounting for the partnership and corporate forms of business organizations; coverage of plant assets, intangible assets, and current liabilities, long-term liabilities, and investments in stocks and bonds; a study of financial statement analysis, and the Statement of Cash Flows. Lecture classes and laboratory sessions meet at least four times per week. Laboratory fee.

This course includes a more comprehensive study of the principles and practices of accounting, a review of the accounting process, and a study of the design and content of financial statements. Detailed coverage is given to the areas of cash, receivables, and inventories.

This course covers detailed accounting principles and practices in the areas of investments in stocks and bonds, plant assets, intangible assets, current and long-term liabilities, and stockholders equity. Other areas covered in detail include financial statement analysis and the statement of cash flows.

This course examines the fundamental theory, primary objectives, and working procedures of auditing. This course is designed to familiarize the student with the ethics and duties of the independent certified public accountant. The major course focus centers around the examination of financial statements, their supporting accounts and financial records, and the rendering of the audit report.

This course covers the study of accounting as it serves the needs of management, principally in planning, controlling, decision making, and determining product cost for pricing, inventory valuation and income determination. Course emphasis is on the use of this information by those seeking careers in management accounting. Topics covered include cost terms, concepts and classifications; job-order costing; process costing; cost behavior analysis and use; cost-volume-profit relationships; profit planning with the master budget; standard costs; flexible budgets and overhead analysis; measuring managerial performance; pricing and services; and relevant costs for decision making.

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