UW–Madison is awaiting approval of this new academic program by the Student & Exchange Visitor Program (SEVP) before we are able to accept prospective F-1 students into this program or issue a Form I-20 for this program. International students may apply for this program but will only be considered for admission if or when the program is approved.
Founded in 1900, the Wisconsin School of Business established one of the first five business programs in the nation. That legacy of leadership and entrepreneurial spirit continues.
As a student in the School of Business, you will find yourself inspired by peers, staff, alumni, business leaders, and world-renowned faculty who are focused, collaborative, and engaged in every aspect of the student experience. You will join a program that equips you to meet both academic and career challenges, and graduate with the skills to lead and transform business.
Master of Science in Financial Management and Accounting
The MS in Financial Management and Accounting degree helps students gain the technical expertise to launch an impactful career in financial analysis, financial advising, wealth management, financial management, corporate finance, or public accounting. Students learn how to report and communicate financial information using relevant accounting frameworks, and develop the skills to analyze data, apply tax principles, and assess business decisions to provide strategic advice. Students who earn the MS in Financial Management and Accounting degree will qualify to sit for the CPA exam in most states. Covering all the exam’s core topics, the program’s curriculum helps prepare students to pass the CPA exam.
Through the curriculum, students gain foundational expertise and hands-on experience in financial management and accounting, plus they are able to customize the degree to their goals by choosing additional coursework in one of three specialized career pathways: accounting analytics, financial advising, or capital management. Additionally, students benefit from career coaching, on-site recruitment, and connections to top companies.
The program is open to students with, or currently pursuing, a four-year undergraduate degree from an accredited university in a field other than accounting. Students must also have, or be currently pursuing, an undergraduate certificate in accounting or accounting fundamentals from UW–Madison, or equivalent from an accredited institution. No work experience is required.
Admissions
| Fall Deadline | See program webpage: TBD |
| Spring Deadline | This program does not admit in the spring. |
| Summer Deadline | This program does not admit in the summer. |
| GRE (Graduate Record Examinations) | May be required in certain cases; consult program. |
| English Proficiency Test | All applicants whose native language is not English must submit scores from the Test of English as a Foreign Language (TOEFL), the Pearson Test of English (PTE), or the Intensive English as a Second Language (IELTS). A minimum iBT TOEFL score of 100 or equivalent, computer-based PTE score of 73 or equivalent, or IELTS score of 7.5 or equivalent, obtained within two years of the intended start term, is required. This requirement is waived for international applicants who have completed a four-year undergraduate degree and/or master’s degree (minimum of eight semesters total) with instruction in English or who will complete such a degree prior to matriculation into the program. |
| Other Test(s) (e.g., GMAT, MCAT) | GMAT may be required in certain cases; consult program. |
| Letters of Recommendation Required | 0* |
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Submission of up to two letters of recommendation is optional.
The Master of Science in Business: Financial Management and Accounting (MSFMA) program is open to any student who has (1) earned a four-year undergraduate degree in a field other than accounting, from an accredited institution, and (2) completed the undergraduate Accounting Certificate or Accounting Fundamentals Certificate at UW-Madison, or the equivalent from an accredited institution1. The following will be required for admission to the MSFMA program:
- Undergraduate degree in a field other than accounting. Completion of an undergraduate degree is required prior to starting the program.
- Undergraduate Accounting Certificate or Accounting Fundamentals Certificate at UW-Madison, or equivalent1. Completion of an undergraduate certificate or equivalent is required prior to starting the program.
- Resume
- Completed application and payment of application fee
- Official transcripts
- All undergraduate and master’s degree transcripts will be evaluated.
- Schools outside the US may be verified by World Education Services (WES) at the individual class level.
- Interview (by invitation only)
- Responses to essay question(s) are optional for candidates who earned an undergraduate degree at UW-Madison.
- The GMAT and GRE are optional for candidates who earned an accredited US undergraduate degree.
- TOEFL, PTE or IELTS test scores, only for applicants whose native language is not English
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Completion of the following courses is considered to be equivalent to an undergraduate Accounting Certificate or Accounting Fundamentals Certificate:
- Introductory Financial Accounting (equivalent to ACCT I S 100 or ACCT I S 300)
- Introductory Managerial Accounting (equivalent to ACCT I S 211)
- Intermediate Financial Accounting I (equivalent to ACCT I S 301)
- Introductory Finance (equivalent to FINANCE/ECON 300)
How to Apply
Students interested in business degrees do not apply through the Graduate School application system and should instead refer to the School of Business Admissions page.
Funding
Graduate School Resources
The Bursar’s Office provides information about tuition and fees associated with being a graduate student. Resources to help you afford graduate study might include assistantships, fellowships, traineeships, and financial aid. Further funding information is available from the Graduate School. Be sure to check with your program for individual policies and restrictions related to funding.
Minimum Graduate School Requirements
Review the Graduate School minimum degree requirements and policies, in addition to the program requirements listed below.
Major Requirements
Mode of Instruction
| Face to Face | Evening/Weekend | Online | Hybrid | Accelerated |
|---|---|---|---|---|
| Yes | No | No | No | No |
Mode of Instruction Definitions
Accelerated: Accelerated programs are offered at a fast pace that condenses the time to completion. Students typically take enough credits aimed at completing the program in a year or two.
Evening/Weekend: Courses meet on the UW–Madison campus only in evenings and/or on weekends to accommodate typical business schedules. Students have the advantages of face-to-face courses with the flexibility to keep work and other life commitments.
Face-to-Face: Courses typically meet during weekdays on the UW-Madison Campus.
Hybrid: These programs combine face-to-face and online learning formats. Contact the program for more specific information.
Online: These programs are offered 100% online. Some programs may require an on-campus orientation or residency experience, but the courses will be facilitated in an online format.
Curricular Requirements
| Minimum Credit Requirement | 30 credits |
| Minimum Residence Credit Requirement | 16 credits |
| Minimum Graduate Coursework Requirement | 15 credits must be graduate-level coursework. Refer to the Graduate School: Minimum Graduate Coursework (50%) Requirement policy: https://policy.wisc.edu/library/UW-1244. |
| Overall Graduate GPA Requirement | 3.00 GPA required. Refer to the Graduate School: Grade Point Average (GPA) Requirement policy: https://policy.wisc.edu/library/UW-1203. |
| Assessments and Examinations | No required assessments or examinations beyond course requirements. |
| Language Requirements | No language requirements. |
Required Courses
| Code | Title | Credits |
|---|---|---|
| Core Courses | ||
| ACCT I S 302 | Financial Reporting II | 3 |
| or ACCT I S 406 | Accounting and Analysis for Reporting Entities | |
| ACCT I S 340 | Accounting Information Systems | 3 |
| ACCT I S 603 | Financial Statement Analysis | 3 |
| ACCT I S 620 | Fundamentals of Taxation | 3 |
| ACCT I S 621 | Corporate and Advanced Taxation | 3 |
| ACCT I S 710 | Managerial Accounting | 3 |
| Career Pathway | ||
| Complete four courses from one Career Pathway | 12 | |
| Total Credits | 30 | |
Career Pathways1
Accounting Analytics1
| Code | Title | Credits |
|---|---|---|
| ACCT I S 630 | Foundations of Auditing | 3 |
| ACCT I S 640 | Foundation in Accounting Analytics | 3 |
| ACCT I S 740 | Information Risk, Control, & Forensics | 3 |
| Choose one of the following: | 3 | |
| Accounting and Analysis for Reporting Entities | ||
| Analysis of Taxation for Pass-Through Entities | ||
| Data Technology for Business Analytics | ||
Financial Advising1
| Code | Title | Credits |
|---|---|---|
| ACCT I S 772 | Analysis of Taxes & Business Decisions | 3 |
| FINANCE 601 | Strategic Planning for Estates and Business Transitions | 3 |
| FINANCE 602 | Wealth Management & Financial Planning | 3 |
| Choose one of the following: | 3 | |
| Analysis of Taxation for Pass-Through Entities | ||
| Risk Analytics and Behavioral Science | ||
| Principles of Risk Management | ||
Capital Management1
| Code | Title | Credits |
|---|---|---|
| ACCT I S 771 | Analysis of Performance Measurement & Control | 3 |
| FINANCE 635 | Business Valuation | 3 |
| FINANCE 650 | Mergers and Acquisitions | 3 |
| Choose one of the following: | 3 | |
| Investment Banking and Capital Markets | ||
| Challenges & Solutions in Business Sustainability | ||
| Project Management | ||
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These pathways are internal to the program and represent different curricular paths a student can follow to earn this degree. Pathway names do not appear in the Graduate School admissions application, and they will not appear on the transcript.
Other Policy
Students in this program may not take courses outside the prescribed curriculum without faculty advisor and program director approval. Students in this program cannot enroll concurrently in other undergraduate or graduate degree programs.
Policies
Graduate School Policies
The Graduate School’s Academic Policies and Procedures serve as the official document of record for Graduate School academic and administrative policies and procedures and are updated continuously. Note some policies redirect to entries in the official UW-Madison Policy Library. Programs may set more stringent policies than the Graduate School. Policies set by the academic degree program can be found below.
Major Specific Policies
Prior Coursework
Graduate Credits Earned at Other Institutions
With program approval, up to 6 credits of coursework at the graduate level of required or elective courses from an AACSB-accredited school, and in which a grade of B or better was earned, may transfer toward the degree. Coursework earned seven or more years prior to admission is not allowed to satisfy requirements.
Undergraduate Credits Earned at Other Institutions or UW-Madison
Up to 7 credits from courses numbered 300 or above of required or elective courses from the undergraduate work completed at UW–Madison or the equivalent from other institutions in which a B or better was earned may transfer toward the degree. Work completed at other institutions is subject to program review for equivalency to required or elective courses. Undergraduate coursework would not be allowed to count toward the 50% graduate coursework minimum unless numbered 700 or above from UW-Madison. Coursework earned seven or more years prior to admission to a master's degree is not allowed to satisfy requirements.
Credits Earned as a Professional Student at UW-Madison (Law, Medicine, Pharmacy, and Veterinary careers)
Refer to the Graduate School: Transfer Credits for Prior Coursework policy.
Credits Earned as a University Special Student at UW–Madison
With program approval, up to 15 University Special student credits numbered 700 or above may transfer toward the degree. These credits are allowed to count toward the 50% graduate coursework minimum if numbered 700 or above. Coursework earned seven or more years prior to admission to a master’s degree is not allowed to satisfy requirements.
Probation
Refer to the Graduate School: Probation policy.
Advisor / Committee
Refer to the Graduate School: Advisor policy.
Credits Per Term Allowed
15 credit maximum. Refer to the Graduate School: Maximum Credit Loads and Overload Requests policy.
Time Limits
Refer to the Graduate School: Time Limits policy.
Grievances and Appeals
These resources may be helpful in addressing your concerns:
- Bias or Hate Reporting
- Graduate Assistantship Policies and Procedures
- Hostile and Intimidating Behavior Policies and Procedures
- Employee Assistance (for personal counseling and workplace consultation around communication and conflict involving graduate assistants and other employees, post-doctoral students, faculty and staff)
- Employee Disability Resource Office (for qualified employees or applicants with disabilities to have equal employment opportunities)
- Graduate School (for informal advice at any level of review and for official appeals of program/departmental or school/college grievance decisions)
- Office of Compliance (for class harassment and discrimination, including sexual harassment and sexual violence)
- Office Student Assistance and Support (OSAS) (for all students to seek grievance assistance and support)
- Office of Student Conduct and Community Standards (for conflicts involving students)
- Ombuds Office for Faculty and Staff (for employed graduate students and post-docs, as well as faculty and staff)
- Title IX (for concerns about discrimination)
Any student who feels that they have been mistreated by a faculty or staff member has the right to lodge a complaint. Complaints may concern course grades, classroom treatment, program admission, or other issues. To ensure a prompt and fair hearing of any complaint and to protect both the student's rights and the person at whom the complaint is addressed, the grievance procedures below are used in the School of Business.
The person against whom the complaint is directed must be an employee of the School of Business. Any student or potential student may use these procedures unless other campus rules or contracts cover the complaint:
- If the student feels comfortable/safe doing so, the student should first talk with the person against whom the grievance is directed. Most issues can be settled at this level. If the complaint is directed against a teaching assistant (TA) and the student is not satisfied after discussion of the grievance with the TA, the next step would be to talk to the TA's supervisor, who is usually the course professor. If the complaint is still not resolved satisfactorily, the student may continue to step 2.
- If the complaint involves an academic department, the student should contact the chair of the department. The chair will attempt to resolve the problem informally. If this cannot be done to the student's satisfaction, the student may submit the grievance to the chair in writing. This must be done within 60 calendar days of the alleged unfair treatment.
- If the complaint does not involve an academic department, the procedure outlined in Step 4 below should be followed.
- On receipt of a written complaint, the chair will refer the matter to a departmental committee, which will obtain a written response from the person at whom the complaint is directed. This response shall be shared with the person filing the grievance. The chair will provide a written decision within 30 days to the student on the action taken by the committee.
- If either party is not satisfied with the decision, they have five working days from receipt of the decision to contact the dean's office (at the number below), indicating the intention to appeal. If the complaint does not involve an academic department in the school, the student must contact the dean's office within 60 calendar days of the alleged unfair treatment.
- In either case, there will be an attempt to resolve the issue informally by the appropriate associate dean. If this cannot be done, the complaint can be filed in writing with the Office of the Dean. This must be done within 10 working days of the time the appealing party was notified that informal resolution was unsuccessful.
- On receipt of such a written complaint, the Sr. Associate Dean for Faculty & Staff will convene a subcommittee of relevant stakeholders pending the nature of the issue. This subcommittee may ask for additional information from the parties involved and may hold a hearing at which both parties will be asked to speak separately. The subcommittee will then make a written recommendation to the dean of the School of Business who will render a decision. Unless a longer time is negotiated, this written decision shall be made within 20 working days from when the grievance was filed with the Office of the Dean.
Questions about these procedures can be directed to the School of Business, Office of the Dean, 4339 Grainger, 975 University Avenue, 608-262-7867.
State law contains additional provisions regarding discrimination and harassment. Wisconsin Statutes 36.12 reads, in part: "No student may be denied admission to, participation in or the benefits of, or be discriminated against in any service, program, course or facility of the system or its institutions or center because of the student's race, color, creed, religion, sex, national origin, disability, ancestry, age, sexual orientation, pregnancy, marital status or parental status." In addition, the UW System prohibits discrimination based on gender identity or gender expression. Students have the right to file discrimination and harassment complaints with the Office of Compliance, 361 Bascom Hall, 608-265-6018, uwcomplianceoffice@wisc.edu.
The Graduate School has procedures for students wishing to appeal a grievance decision at the school/college level. These policies are described in the Graduate School’s Academic Policies and Procedures: https://grad.wisc.edu/documents/grievances-and-appeals/
Other
None
Professional Development
Graduate School Resources
Take advantage of the Graduate School's professional development resources to build skills, thrive academically, and launch your career.
Learning Outcomes
- Report and communicate financial information according to relevant accounting frameworks.
- Measure and assess inputs to and outcomes of business or advisory decisions.
- Integrate understanding of tax principles and frameworks into business or advisory decisions.
- Apply analytical techniques to identify and inform business or advisory decisions with data-driven insights.
Accreditation
AACSB International—The Association to Advance Collegiate Schools of Business
Accreditation status: Accredited. Next accreditation review: 2026–2027.