The School of Business offers two combined degrees in the Accounting, Taxation, & Law department. Each of these programs allows students to accelerate their trajectory towards graduation. Successful applicants will receive a Bachelor of Science in Accounting and an Master of Science in either Accounting, Forensic Accounting or Taxation. In their final year prior to BS graduation students will take two graduate courses in addition to completing their remaining undergraduate requirements. See the College’s Undergraduate Catalog for additional details.
Upon successful completion of the program, including specified prerequisites, students will have satisfied the 150 hours requirement necessary to be licensed as a Certified Public Account (CPA) in New York State. They also qualify for a one-year work experience requirement relating to CPA licensure.
Admission to the B.S./M.S.
Candidates will apply for the program when they have earned 82 credits, of which 24 credits must be earned at OW including BU 4510 Intermediate Accounting II. All candidates must have a cumulative GPA of 3.25 and take the Graduate Management Aptitude Test (GMAT). An algorithm based on the GPA and GMAT scores will determine admission to the combined BS/MS program. Students earning a 3.25 GPA at OW and a 3.30 GPA in all accounting courses (transfer + OW) will be granted a waiver of the GMAT.
Candidates submit an application that includes:
- An essay
- All college transcripts
- GMAT scores (if necessary)
General Admissions Requirements for the School of Business
Requirements for Applicants
- Completion of a Bachelor of Arts, Bachelor of Science, or BBA degree.
- An official GMAT Examination score taken within the last 5 years (see GMAT waiver below).
- All official college transcripts (admission is based on a review of the combination of cumulative undergraduate Grade Point Average and GMAT score).
- Two letters of reference (professional or academic)
- An essay about the applicant’s career goals and a self-assessment of their strengths.
- A $50 application fee.
Applicants wishing to enter the Advanced Certificate Program must meet the following conditions as determined by the program coordinator:
- a. Possess an approved Bachelor’s degree (or its equivalent) from an accredited college or university.
- b. If the degree is not in Accounting, then have completed BU4500 (Intermediate Accounting I), BU4510 (Intermediate Accounting II) and BU4570 (Federal Income Tax).
- c. Demonstrate the ability to successfully pursue graduate study by having an undergraduate grade point average (GPA) of 3.0 or better.
GMAT Waivers are only granted in the following circumstances:
- Have passed all four parts of the CPA examination at time of application.
- Are a Licensed attorney (admitted to the Bar).
- Awarded an MBA or master’s degree in a business related degree.
- Are a Chartered Financial Analyst holding a bachelor’s degree.
- Have an undergraduate degree in Accounting or an undergraduate degree in Business with at least 24 credits in accounting (including auditing) and have a cumulative GPA of at least 3.00 overall and a GPA of 3.30 in accounting courses (GPA to be considered will be cumulative for all undergraduate institutions attended.)
Note: A GMAT waiver may apply to students applying for the BS/MS Program (see the School of Business section in the Old Westbury Undergraduate Catalog for further information on this program) if a current Old Westbury undergraduate student has an Old Westbury cumulative GPA of 3.25 or above, and a GPA of 3.30 or above for all Accounting courses (including Intermediate Accounting I) taken at all colleges.
Acceptance decisions are made by the Graduate Business Admissions Committee based upon the above materials submitted with the application.
Note: The Old Westbury Master of Science programs in Accounting, Forensic Accounting, and Taxation are intended to qualify a graduate for licensure as a Certified Public Accounting after passing the Uniform CPA Exam. Questions on the licensing application require disclosure of prior felony and misdemeanor convictions (including please of guilty, no contest, or nolo contendere, prior professional licensing issues, charges of professional misconduct, and child support obligations. This may become an issue in obtaining a license as a Certified Public Accountant.
Candidates not meeting any of the above criteria are also permitted to take graduate business courses, as a nonmatriculated student, if they have earned a US Bachelor’s degree (or equivalent) that included the prerequisites for the course(s) they are interested in taking and have an overall 3.0 GPA in all of their undergraduate courses.
Non-matriculated students with the appropriate prerequisites will be allowed to register on a space available basis. There is a limit of 12 credits allowed at the graduate level.
Course Waivers
Required Accounting Foundation courses in the two-year professional track may be waived based upon prior undergraduate coursework. Required 7000-level graduate courses may be waived based upon prior graduate coursework. Waivers will only be granted after careful evaluation by faculty in the area of specialization and the Graduate Business Admissions Committee.
The maximum graduate level credits that may be waived are as follows:
30-Credit MS Accounting Track - 6 credits
MS in Forensic Accounting- 6 credits
MS in Taxation - 6 credits
General Policies & Procedures
Residence
A degree candidate must complete at least twenty-four (24) graduate credits at the College at Old Westbury to meet the residency requirements in the M.S. in Accounting, Forensic Accounting or Taxation programs. Once enrolled, permission to take any course in the graduate program elsewhere must be granted by the Director of the Program in consultation with the Graduate Business Academic Standing Committee; such approval would be considered an extraordinary exception.
Schedule of Courses
The graduate program operates on a three semester per year basis: the fall semester begins the end of August and ends in mid-December; the spring semester begins mid-January and ends mid- May; the summer semester has two sessions. The first summer session begins the end of May and ends in early July, and the second summer session begins in early July and ends in mid August. During the fall and spring semesters, each class meets one evening a week, with the first class period beginning at 5:40 pm and ending at 7:55 pm and the second class period beginning at 8:05 pm and ending at 10:20 pm. During the seven week summer sessions, classes meet two times per week on Mondays and Thursdays with the first class period meeting from 5:30 pm to 8:10 pm and the second class period meeting from 8:20 pm to 11:00 pm.
A full-time student who completes four classes per semester may be able to complete the 30- credit programs in one year. Part-time students may take courses in the program as their schedule permits. Not every course is offered every semester. Students must complete the program within five years.
Academic Advising
All students admitted to the graduate program will be advised by the Director of the Graduate Program. This process entails: full discussion of student goals; explanation of all degree requirements; clarification of requirements for the CPA exam; description of the course schedule and frequency of course offerings over the relevant period; and information about internships, placement, and the employment market.
Graduate Assistants
Contingent upon funding, a small number of graduate assistantships may be available to aid faculty with research and teaching activities. Graduate assistants will be under the supervision of the assigned faculty and the Director of the Graduate Business Program and the performance of graduate assistants will be reviewed on at least an annual basis.
Academic Standing
Graduate students whose cumulative graduate Grade Point Average (GPA) falls below 3.0 will be placed on academic probation. Students on academic probation have one semester in which to raise their GPA to 3.0. Any student whose GPA remains below 3.0 at the end of the probationary period may be dropped from the program.
Any student who receives an “F” in a course or any student whose cumulative GPA is less than 3.0 will have his or her record reviewed by the Graduate Business Academic Standing Committee. Based on the facts of the case, the Committee may issue a letter of warning, may place the student on probation until a certain target level of academic performance has been met, or may deny continuance in the graduate program. Students may be denied continuance if they do not, in the next semester, make up a failed course or for some reason cannot bring their cumulative GPA to 3.0. Dismissal from the program is final and may not be appealed.
Graduation Requirement
To graduate a student must have a cumulative GPA of 3.0 or better for Old Westbury graduate course work.
Application for Degree
In the last semester of attendance, a degree candidate is required to send an application for graduation to the Director of the Graduate Business Programs by the specified deadline.
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