WGU Master of Accounting

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Master of Accounting

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Understanding the Competency-Based Approach
Practically speaking, what does it mean when we say that WGU programs are competency-
based? Unlike traditional universities, WGU does not award degrees based on credit hours or
on a certain set of required courses. Instead, students earn their degrees by demonstrating their
skills, knowledge, and understanding of important concepts through a series of carefully
designed assessments.
Progress through your degree program is governed, not by classes, but by satisfactory
completion of the required assessments that demonstrate your mastery of the competencies. Of
course, you will need to engage in learning experiences as you brush up on competencies or
develop knowledge and skills in areas in which you may be weak. For this learning and
development, WGU has a rich array of learning resources in which you may engage under the
direction of your mentor. You will work closely with your mentor to schedule your program for
completing the assessments. (We discuss assessments in much more detail later in this guide.)
You will work closely with additional faculty members as you proceed through courses of study
that are designed to lead you through the content you must master in order to pass individual
assessments.
The benefit of this competency-based system is that it makes it possible for people who are
knowledgeable about a particular subject to make accelerated progress toward completing a
WGU degree even if they lack college experience. You may have gained your skills and
knowledge of a subject on the job, accumulated wisdom through years of life experience, or,
indeed, took a course on a particular subject. WGU awards a degree to you based on the skills
and knowledge that you possess and can demonstrate, not the number of credits you have on
your transcript.
Accreditation
Western Governors University is the only university in the history of American higher education
to have earned accreditation from four regional accrediting commissions. WGU's accreditation
was awarded by (1) the Northwest Commission on Colleges and Universities, (2) the Higher
Learning Commission of the North Central Association of Colleges and Schools, (3) the
Accrediting Commission for Community and Junior Colleges of the Western Association of
Schools and Colleges, and (4) the Accrediting Commission for Senior Colleges and Universities
of the Western Association of Schools and Colleges. The university’s accreditation status is now
managed by the Northwest Commission on Colleges and Universities (NWCCU). The WGU
Teachers College is accredited by the National Council for Accreditation of Teacher Education
(NCATE). The nursing programs are accredited by the Commission on Collegiate Nursing
Education (CCNE). The Health Informatics program is accredited by the Commission on
Accreditation for Health Informatics and Information Management Education (CAHIIM).
The Degree Plan
The focus of your program is your personalized Degree Plan. The Degree Plan is a detailed
blueprint of the learning resources and assessments that comprise your program. The length of
your program depends on both the amount of new information you need to learn and the
amount of time you plan to devote each week to study.

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Students will vary widely in the specific skills and information they need to learn. For example,
some may be highly knowledgeable in a subject matter and would not need to engage in new
learning opportunities. Others may find that portions of the program require completely new
learning and that they may need to take an online class or participate in a study module to
acquire the knowledge and skills needed to pass the program competencies in that area. Some
individuals may be able to devote as little as 15-20 hours per week to the program, while others
may have more time. For this reason, you will complete pre-assessments to help your mentor
form a profile of your prior knowledge and experience for use in creating your Degree Plan.
WGU’s Mentoring Approach
Our mentoring approach is a powerful component of the WGU educational experience. When
you enroll at WGU, you will begin interacting with your personal mentor, course mentors, and
support staff. Your mentor takes an active role and a personal interest in your success. Whether
by e-mail or phone, your mentor will be your “point person” of communication throughout your
program. Your mentor will help motivate you to work hard to complete your program. When you
have questions or concerns, your mentor team will help you resolve them.
You and your mentor will work together to evaluate your educational background, strengths, and
weaknesses. With this analysis, your mentors will help determine in which areas you are
already competent (and can move quickly to assessment) and areas you need to work on; this
will become your personalized Degree Plan. Your mentor will direct you to the Courses of Study
that contain the best learning resources for you (courses, texts, independent study modules,
etc.) and are supported by course mentors that serve as your content experts for each area of
study. As you proceed through your academic program, you and your mentor will determine
when you are ready for the required assessments. If you are ready, your assessment will be
scheduled. You will follow this same process as you proceed through each domain.
Connecting with Other Mentors and Fellow Students
As you proceed through your Degree Plan, you may also have direct contact with other faculty
members. These communications can take a variety of forms, including participation in learning
communities, office hours via the courses of study, and webinars. As a WGU student, you will
have access to your own personal MyWGU Student Portal that will provide a gateway to
courses of study, learning communities, and program communities where you will have
interactions with faculty and other students. Courses of study and communities are specifically
designed to support you as you develop competencies in preparation for your assessments
through the utilization of threaded discussions, blogs, and chats that are guided by content
experts. You will access your program community during the Education Without Boundaries
introductory course to network with peers who are enrolled in your program and to receive
continued support through professional enrichment and program-specific chats, blogs, and
discussions. WGU also provides a Student Services Associate to help you and your mentor
solve any special problems that may arise.
Orientation
The Orientation focuses on acquainting the student with WGU’s competency-based model,
distance education, technology, and other resources and tools available for students. You will

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also utilize tutorials, message boards, online chats, and other activities to connect with other
students in your program. This orientation is completed before you start your first term at WGU.
Transferability of Prior College Coursework
Because WGU is a competency-based institution, it does not award degrees based on credits
but on demonstration of competency. However, if you have completed college coursework at
another accredited institution, you may have your transcripts evaluated and may be able to have
some lower-division or co-requisite assessments cleared. The guidelines for determining what
will “clear” through transfer vary based on the degree program.
The following transfer guidelines generally apply to graduate programs: Graduate domains (i.e.,
subject areas) cannot be cleared through transfer. Requirements in the domains that can be
considered the degree major cannot be cleared through transfer. Furthermore, WGU does not
clear any requirements based on the student's professional experience and does not perform a
"resume review" or "portfolio review" that will automatically clear any degree requirements.
Degree requirements and transferability rules are subject to change in order to keep the degree
content relevant and current.
Remember, WGU's competency-based approach lets you take advantage of your knowledge
and skills, regardless of how you obtained them. Even when you do not directly receive credit,
the knowledge you possess may help you accelerate the time it takes to complete your degree
program.
Continuous Enrollment, On Time Progress, and Satisfactory Academic
Progress
WGU is a “continuous enrollment” institution, which means you will be automatically enrolled in
each of your new terms while you are at WGU. Your terms are six months long. Longer terms
and continuous enrollment allow you to focus on your studies without the hassle of unnatural
breaks between the shorter terms that you would experience in a more traditional environment.
At the end of every six-month term, you and your mentor will review the progress you have
made and revise your Degree Plan for your next six-month term.
WGU requires that students make measurable progress toward the completion of their degree
programs every term. We call this On Time Progress – denoting that you are on track and
making progress toward on time graduation. As full-time students, graduate students must enroll
in at least eight (8) competency units each term, and undergraduate students must enroll in at
least twelve (12) competency units each term. Completing at least these minimum enrollments
is essential to On Time Progress and serves as a baseline from which you may accelerate your
program. We measure your progress based on the assessments you are able to pass, not on
your accumulation of credit hours or course grades. Every time you pass an assessment, you
are demonstrating that you have mastered skills and knowledge in your degree program. For
comparison to traditional grading systems, passing an assessment means you have
demonstrated competency equivalent to a “B” grade or better.
WGU has assigned competency units to each assessment so that we can track your progress
through the program. A competency unit is equivalent to one semester credit of learning. Some

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assessments may be assigned three competency units while other assessments may be as
large as 12 competency units.
Satisfactory Academic Progress (SAP) is particularly important for financial aid students
because you must make SAP in order to maintain eligibility for financial aid. We will measure
your SAP quantitatively by reviewing the number of competency units you have completed each
term. As full-time students, WGU graduate students must enroll in at least eight competency
units each term, and undergraduate students must enroll in at least 12 competency units each
term. In order to remain in good academic standing, you must complete at least 66.67% of the
units you attempt over the length of your program – including any assessments you add to your
term to accelerate your progress. Additionally, during your first term at WGU you must pass at
least three competency units in order to remain eligible for financial aid. We know that SAP is
complex, so please contact a Financial Aid Counselor should you have additional questions.
Assessments
Your Degree Plan will include the courses needed to complete your program. To obtain your
degree you will be required to demonstrate your skills and knowledge by completing one of
more of the following types of assessments in your courses:
Objective Assessments are designed to evaluate your knowledge and skills in a domain of
knowledge. Most objective assessments include multiple-choice items, multiple-selection items,
matching, short answer, drag-and-drop, and point-and-click item types, as well as case study
and video-based items.
Performance Assessments contain, in most cases, multiple scored tasks such as projects,
essays, and research papers. Performance assessments contain detailed instructions and
rubrics for completing each task and are submitted in TaskStream, an online project
management and grading tool.
As mentioned earlier, we have assigned competency units (CUs) to each course in order to
measure your academic progress. As a graduate student, you will be expected to enroll in a
minimum of eight competency units each term. A standard plan, at eight units per term, would
look similar to the one that follows.
Your personal progress can be faster, but your pace will be determined by the extent of your
transfer units, your time commitment, and your determination to proceed at a faster rate.
STANDARD PATH FOR MASTER of ACCOUNTING
Course Description
CUs
Term
Advanced Financial Accounting
3
1
Management Communication
3
1
Governmental and Non-Profit Accounting
3
1
Advanced Managerial Accounting
3
2
Fraud and Forensic Accounting
3
2
Advanced Tax Concepts
3
2

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Financial Management
3
3
Strategic Management
3
3
Advanced Auditing
3
3
Accounting Research
3
4
In this example, the program will take four terms for the student to complete. The standard path
shown above lists the courses and the associated competency units by term. The Degree Plan
will include greater detail about each course, including the assessments and their associated
standard learning resources.
Learning Resources
You will work with your mentor to select the various learning resources needed to prepare for
the required assessments. In most cases, the learning materials you will use are independent
learning resources such as textbooks, e-learning modules, study guides, simulations, virtual
labs, and tutorials. WGU works with dozens of educational providers, including enterprises,
publishers, training companies, and higher educational institutions to give you high quality and
effective instruction that matches the competencies that you are developing. The cost of many
learning resources is included in your tuition, and you can enroll directly in those through your
Degree Plan as your mentor has scheduled them. Some resources (e.g., many textbooks) are
not covered by your tuition, and you will need to cover those costs separately. WGU has
excellent bookstore and library arrangements to help you obtain the needed learning resources.
Areas of Study within the Master of Accounting
Program
The following section includes the areas of study in the program, which are then followed by
their associated courses, and in some cases, the sample learning resources that have recently
been used to help students gain the competencies needed to pass the assessments in the
course. Your specific learning resources and level of instructional support will vary based on the
individual competencies you bring to the program and your confidence in developing the
knowledge, skills, and abilities required in each area of the degree. Please note that the learning
resources included in the following sections are sample resources that will vary based on your
own Degree Plan and the resources current at the time you enroll in the program. The Degree
Plan and learning resources are dynamic, so you need to review your Degree Plan and seek the
advice of your mentor regarding the resources before you purchase them.
Advanced Financial Accounting
Advanced Financial Accounting
This course builds upon your accounting knowledge by focusing on advanced financial
accounting topics such as consolidations, partnerships, and international accounting. It covers
the following competencies:
• The graduate applies generally accepted accounting principles (GAAP) as they relate to
business combinations and parent/subsidiary relationships.

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• The graduate accounts for partnerships, including formation, operations, and
liquidations.
• The graduate can demonstrate hedging for foreign currency transactions and translate
foreign currency financial statements.
• The graduate explains reporting requirements for SEC, segment, and interim reporting.
Advanced Financial Accounting
Proctored, computer-based objective assessment
Management Communication
Management Communication
This course prepares you for the communication challenges in organizations. Topics examined
include: theories and strategies of communication, persuasion, and ethics that enhance
communication to various audiences. It covers the following competencies:
• The graduate communicates effectively, both in writing and speaking, within an
organizational setting.
• The graduate demonstrates best practices to overcome biases that inhibit organizations
and teams from communicating effectively.
• The graduate recognizes cultural differences in communication and develops strategies
and techniques to effectively communicate with internal and external stakeholders.
• The graduate applies negotiation and conflict management strategies to improve
organizational performance.
• The graduate utilizes appropriate technology and/or social media to communicate
effectively.
Management Communication
Performance assessment
Governmental and Non-Profit Accounting
Advanced Financial Accounting
This course is designed to be an introduction to the theory and practice of accounting in
governmental and nonprofit entities. The course includes a thorough examination of the
process of analyzing and recording transactions by governmental and nonprofit organization
and their preparation of financial statements in accordance with Financial Accounting Board
(FASB) and Governmental Accounting Standards Board (GASB) standards. This course
includes accounting for governmental and nonprofit entities (local, state, and federal), colleges
and universities, and voluntary organizations. It covers the following competencies:
• The graduate explains the background, need, and governance for governmental and
nonprofit entities.

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• The graduate analyzes and records transactions for governmental and nonprofit entities
under the Financial Accounting Standards Board (FASB) and Governmental Accounting
Standards Board (GASB) standards.
• The graduate prepares and analyzes financial statements for governmental and
nonprofit entities in accordance with Financial Accounting Standards Board (FASB) and
Governmental Accounting Standards Board (GASB) standards.
Governmental and Non-Profit Accounting
Proctored, computer-based objective assessment
Advanced Managerial Accounting
Advanced Managerial Accounting
This course introduces the complexity and functionality of managerial accounting systems within
an organization. It covers the topics of product costing, decision making, profitability analysis,
budgeting, performance evaluation, and reporting related to managerial decision-making. This
course provides the opportunity for a detailed study of how managerial accounting information
supports the operational and strategic needs of an organization and how managers use
accounting information for decision-making, planning and controlling activities within
organizations. It covers the following competencies:
• The graduate analyzes cost data to formulate business decisions.
• The graduate uses data analysis tools to make strategic business decisions.
• The graduate uses management tools to strategically support management planning and
decision making.
Advanced Managerial Accounting
Proctored, computer-based objective assessment
Fraud and Forensic Accounting
Fraud and Forensic Accounting
This course provides a framework for detecting and preventing financial statement fraud.
Topics include the profession’s focus and legislation of fraud, revenue- and inventory-related
fraud, and liability, asset, and inadequate disclosure fraud. This course covers the following
competencies:
• The graduate explains the ethical responsibility of providing accurate financial
information.
• The graduate explains financial statement auditing standards and legislation.
• The graduate identifies fraud risk factors and assesses the risk of financial statement
fraud in the organization.
• The graduate identifies effective ways to deter fraud.

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Fraud and Forensic Accounting
Proctored, computer-based objective assessment
Advanced Tax Concepts
Advanced Tax Concepts
This course is designed to enhance your awareness of the complexities and sources of tax law
and to measure and analyze the effect of various tax options. This course provides an overview
of income taxes on individuals, corporations, associations, reorganizations, and corporate
distributions. This course emphasizes the role of taxes in business decisions and business
strategy. It covers the following competencies:
• The graduate applies knowledge of tax laws for planning and compliance purposes.
• The graduate analyzes the impact of multijurisdictional taxes.
• The graduate utilizes tax research to interpret and evaluate recent developments in tax
concepts.
• The graduate determines the proper taxable amount for property transactions.
• The graduate determines the proper taxable amount for corporate transactions.
• The graduate prepares tax returns with IRS forms, schedules, and related reporting
requirements.
Advanced Tax Concepts
Proctored, computer-based objective assessment
Advanced Tax Applications
Proctored, computer-based objective assessment
Financial Management
Financial Management
This course covers practical approaches to analysis and decision-making in the administration
of corporate funds, including capital budgeting, working capital management, and cost of
capital. Topics include financial planning, management of working capital, analysis of
investment opportunities, sources of long-term financing, government regulation, and global
influences. You will improve your ability to interpret financial statements and manage corporate
finances. It covers the following competencies:
• The graduate evaluates the primary risk/return criteria regarding financial management
in domestic and global environments.
• The graduate evaluates company performance based on financial statements and other
measures in order to provide recommendations.
• The graduate applies basic principles of valuation to evaluate capital investment projects
and the overall value of a firm.

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• The graduate applies capital market theory in financial decision making.
• The graduate applies long-term investment concepts to capital budgeting decision-
making.
• The graduate demonstrates the management of working capital to achieve the
appropriate value for the firm.
• The graduate analyzes applicable legal and regulatory requirements to determine
whether organizations meet legal responsibilities and act with social responsibility.
Financial Management
Proctored, computer-based objective assessment
Strategic Management
Strategic Management
This course focuses on models and practices of strategic management, including developing
and implementing a strategy and evaluating performance to achieve strategic goals and
objectives. It covers the following competencies
• The graduate identifies the strategic process and the execution of a strategic plan.
• The graduate assesses the fundamental perspectives on strategic decision-making
using analytical tools.
• The graduate analyzes generic strategies for winning a competitive advantage and
determines how to apply maximum strategic power.
• The graduate assesses the value of competing in international markets and determines
the risks and rewards of diversification strategies.
• The graduate analyzes the concepts of ethics, corporate social responsibility, and
environmental sustainability and assesses the impact these policies have on strategic
decision-making.
• The graduate evaluates the framework necessary to effectively execute strategy.
Strategic Management
Proctored, objective assessment.
Advanced Auditing
Advanced Auditing
This course covers the concepts, standards, procedures, and practices of auditing. It examines
the topics of the changing role of the independent auditor, professional conduct and ethics,
auditor's reporting responsibilities, risk assessment, internal control, evidential matter, and
management fraud. This course is designed to help students examine how the role of internal
and external auditing can best be performed while studying cases of integrated audit activities. It
covers the following competencies:
• The graduate applies legal and ethical professional standards.

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• The graduate knows the different engagements performed by CPAs and the standards
that apply to each.
• The graduate conducts an audit of various business processes.
• The graduate applies appropriate auditing procedures to detect fraud.
• The graduate uses statistical and non-statistical sampling methods.
• The graduate conducts research and applies research findings to resolve audit issues.
Advanced Auditing
Performance assessment
Accounting Research
Accounting Research
This course helps students develop analytical and research capabilities and apply the technical
knowledge of accounting theory and principles to solve complex accounting problems. It covers
the following competencies:
• The graduate conducts accounting research utilizing multiple analytical methods and
sources.
• The graduate identifies, organizes, and integrates diverse sources of information to
reach a conclusion or to make a decision.
• The graduate analyzes accounting issues by reviewing information, using empirical data
and analytical methods, recognizing patterns of activity, forecasting, and integrating
data.
• The graduate applies research findings to resolve complex accounting treatment or
disclosure issues.
Accounting Research
Performance assessment
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