Edited By Arlene Ward
Review & Contribution By Dixie Brown
Many aspiring accountants pursue an advanced degree in accounting for lasting benefits like field expertise, salary increases, and streamlined access to CPA or CMA Exams. Online Master’s in Accounting programs, popular for their affordability, flexibility, and self-paced courses, cater to working professionals. These programs also offer specialized concentrations, including fraudulent financial reporting, financial analysis, tax research, business law, and more, providing diverse employment opportunities. According to the U.S. Bureau of Labor Statistics, the field is projected to grow by 4% from 2022 to 2032, with an average annual salary of $78,000[1]. Explore the courses and benefits of online master’s in accounting programs to advance in the accounting profession.
Table Of Contents
Featured Online Programs
www.onlinemasterscolleges.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.
Southern New Hampshire University
PROGRAM: Online Masters Degrees in Accounting & Finance
Southern New Hampshire University is a private, nonprofit, accredited institution with more than 3,000 on-campus students and over 60,000 online students, making us one of the fastest-growing universities in the country. Founded in 1932, we’ve been relentlessly reinventing higher education ever since and have gained national recognition for our dedication to helping students transform their lives and the lives of those around them.
We’re proud to provide affordable, accessible education that students can pursue on our 300-acre campus in Manchester, NH, over our innovative online platform or at our regional centers in Manchester, Nashua, Portsmouth and Salem, NH, and Brunswick, ME.
SNHU has earned the GetEducated.com Best Buy and Best of Business – Best Online Degree awards and is consistently ranked as a top Military Friendly® School by G.I Jobs®.
The Best Master’s in Accounting Online Degree Programs
Identifying the top Master’s in Accounting programs across various U.S. schools can be challenging. Factors such as faculty expertise, curriculum quality, and available resources must be considered. A comprehensive college education significantly impacts academic and personal growth. OMC has assessed accounting programs nationwide, employing a unique ranking system and methodology to compile a list of colleges offering the best online master’s in accounting degrees. Here is the list:
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| College Name & Address | Tuition | Graduation Rate |
|---|---|---|
| #1 University of North Carolina, Chapel Hill 103 South Bldg Cb 9100, Chapel Hill, North Carolina 27599 | $10,552 | 91% |
| #2 University of Illinois, Urbana-Champaign 601 E John Street, Champaign, Illinois 61820 | $14,997 | 85% |
| #3 University of Connecticut 52 Mansfield Road, Storrs, Connecticut 06269 | $16,300 | 84% |
| #4 University of Scranton 800 Linden Street, Scranton, Pennsylvania 18510 | $11,580 | 83% |
| #5 University of Massachusetts, Amherst 374 Whitmore Building 181 Presidents Drive, Amherst, Massachusetts 01003 | $14,014 | 82% |
| #6 Saint Joseph’s University 5600 City Avenue, Philadelphia, Pennsylvania 19131 | $17,334 | 81% |
| #7 Colorado State University-Global Campus 585 Salida Way, Aurora, Colorado 80011 | $9,000 | NA |
| #8 University of Miami University of Miami, Coral Gables, Florida 33146 | $37,800 | 83% |
| #9 Bentley University 175 Forest St, Waltham, Massachusetts 02452 | $38,400 | 90% |
| #10 Syracuse University 900 South Crouse Ave., Syracuse, New York 13244 | $38,880 | 83% |
| #11 Golden Gate University, San Francisco 536 Mission Street, San Francisco, California 94105 | $19,620 | NA |
| #12 Auburn University Auburn, Alabama 36849 | $9,828 | 79% |
| #13 University of Missouri, Columbia 105 Jesse Hall, Columbia, Missouri 65211 | $9,264 | 71% |
| #14 George Mason University 4400 University Dr, Fairfax, Virginia 22030 | $12,144 | 71% |
| #15 DePaul University 1 E Jackson Blvd, Chicago, Illinois 60604 | $19,584 | 74% |
| #16 Seton Hall University 400 S Orange Ave, South Orange, New Jersey 07079 | $23,580 | 73% |
| #17 University of Oklahoma, Norman 660 Parrington Oval, Norman, Oklahoma 73019 | $6,583 | 70% |
| #18 University of Texas, Dallas 800 West Campbell Road, Richardson, Texas 75080 | $13,874 | 70% |
| #19 Maryville University, Saint Louis 650 Maryville University Drive, Saint Louis, Missouri 63141 | $14,346 | 71% |
| #20 Rutgers University 249 University Avenue, Blumenthal Hall, Newark, New Jersey 07102 | $17,736 | 69% |
| #21 University of North Dakota 264 Centennial Drive, Stop 8193, Grand Forks, North Dakota 58202 | $10,534 | 61% |
| #22 Regis University 3333 Regis Blvd, Denver, Colorado 80221 | $14,441 | 64% |
| #23 Western New England University 1215 Wilbraham Rd, Springfield, Massachusetts 01119 | $25,056 | 65% |
| #24 University of Alabama, Birmingham Administration Bldg Suite 1070, Birmingham, Alabama 35294 | $8,100 | 63% |
| #25 Western Governors University 4001 South 700 East Suite 700, Salt Lake City, Utah 84107 | $7,500 | 21% |
Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available
The Most Affordable Master’s in Accounting Online Programs
A master’s degree can be substantially more expensive than a bachelor’s degree. Fortunately, there are many affordable online master’s in accounting programs to choose from among stellar graduate schools. After thorough consideration of various crucial factors, The teams at OMC have compiled a collection of notable colleges from across the country (please read our methodology page for further insights). Here is a list of the most affordable online master’s in accounting programs:
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| College Name & Address | Tuition | Graduation Rate |
|---|---|---|
| #1 Florida Atlantic University 777 Glades Rd, Administration Bldg., Room 339, Boca Raton, Florida 33431 | $5,467 | 50% |
| #2 University of Oklahoma, Norman 660 Parrington Oval, Norman, Oklahoma 73019 | $6,583 | 70% |
| #3 California State University, San Bernardino 5500 University Parkway, San Bernardino, California 92407 | $7,176 | 55% |
| #4 California State University, Sacramento 6000 J St, Sacramento, California 95819 | $7,176 | 55% |
| #5 Western Governors University 4001 South 700 East Suite 700, Salt Lake City, Utah 84107 | $7,500 | 21% |
| #6 University of Alabama, Birmingham Administration Bldg Suite 1070, Birmingham, Alabama 35294 | $8,100 | 63% |
| #7 Colorado State University-Global Campus 585 Salida Way, Aurora, Colorado 80011 | $9,000 | NA |
| #8 University of Missouri, Columbia 105 Jesse Hall, Columbia, Missouri 65211 | $9,264 | 71% |
| #9 Auburn University Auburn, Alabama 36849 | $9,828 | 79% |
| #10 University of North Dakota 264 Centennial Drive, Stop 8193, Grand Forks, North Dakota 58202 | $10,534 | 61% |
| #11 University of North Carolina, Chapel Hill 103 South Bldg Cb 9100, Chapel Hill, North Carolina 27599 | $10,552 | 91% |
| #12 SUNY Polytechnic Institute 100 Seymour Rd, Utica, New York 13502 | $11,310 | 57% |
| #13 University of Scranton 800 Linden Street, Scranton, Pennsylvania 18510 | $11,580 | 83% |
| #14 George Mason University 4400 University Dr, Fairfax, Virginia 22030 | $12,144 | 71% |
| #15 University of Texas, Dallas 800 West Campbell Road, Richardson, Texas 75080 | $13,874 | 70% |
| #16 University of Massachusetts, Amherst 374 Whitmore Building 181 Presidents Drive, Amherst, Massachusetts 01003 | $14,014 | 82% |
| #17 Maryville University, Saint Louis 650 Maryville University Drive, Saint Louis, Missouri 63141 | $14,346 | 71% |
| #18 Regis University 3333 Regis Blvd, Denver, Colorado 80221 | $14,441 | 64% |
| #19 University of Illinois, Urbana-Champaign 601 E John Street, Champaign, Illinois 61820 | $14,997 | 85% |
| #20 University of Connecticut 52 Mansfield Road, Storrs, Connecticut 06269 | $16,300 | 84% |
| #21 Saint Joseph’s University 5600 City Avenue, Philadelphia, Pennsylvania 19131 | $17,334 | 81% |
| #22 Rutgers University 249 University Avenue, Blumenthal Hall, Newark, New Jersey 07102 | $17,736 | 69% |
| #23 DePaul University 1 E Jackson Blvd, Chicago, Illinois 60604 | $19,584 | 74% |
| #24 Golden Gate University, San Francisco 536 Mission Street, San Francisco, California 94105 | $19,620 | NA |
Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available
What Master’s in Accounting Online Programs Entail
Pursuing a Master’s in Accounting is truly worthwhile. These programs focus on developing advanced knowledge in accounting principles, financial analysis, taxation, auditing, and managerial accounting. The curriculum includes comprehensive and specialized courses, offering hands-on learning through case studies and simulations. Online programs provide flexibility, virtual classrooms, and interactive tools. Graduates gain skills for roles like CPAs, financial analysts, or auditors. Program duration varies with synchronous, asynchronous, or hybrid formats. Overall, pursuing a Master’s in Accounting program combines theory and practice, equipping students with the skills and knowledge needed for success in the dynamic accounting field.
Learning Formats
Many academic disciplines are online yet require on-campus visits or in-person practicums. Accounting is different because most grad students can fully receive their accounting education online, requiring no in-person visits. Some programs may have on-campus or professional events, but they are often not mandatory. Other programs may require students to meet a residency requirement by attending a special program for a few days on campus. Choosing the right school means looking carefully at these options and requirements.
Curriculum
The Master’s in Accounting program offers a comprehensive curriculum to equip students with advanced financial knowledge and strategic skills essential for success in dynamic accounting. Students learn auditing, taxation, management accounting, and financial analysis through a blend of theoretical and practical coursework. Most master’s accounting programs will require grad students to complete similar core and elective courses found in an accounting undergraduate degree but at an advanced level. Some staple courses include:
- Advanced Auditing and Assurance Services
This course explores sophisticated auditing techniques and principles. Students gain expertise in risk assessment, internal controls, and ethical considerations, preparing for advanced roles in audit management. The course emphasizes real-world applications, ensuring graduates are equipped to conduct thorough and effective audits in diverse organizational settings. - Federal Tax Research
This course delves into advanced tax research methodologies within the U.S. legal framework. Students develop expertise in navigating complex tax codes, regulations, and case law, enhancing their ability to provide businesses and individuals with strategic tax planning and compliance solutions. - Situational Ethics in Accounting
This course explores the ethical dimensions of financial decision-making. Students analyze real-world scenarios, enhancing their ability to navigate complex ethical challenges in accounting practice. This course fosters a nuanced understanding of ethical considerations, preparing graduates for principled leadership roles. - Advanced Cost Accounting
This course focuses on sophisticated cost analysis methodologies. Students explore advanced concepts in budgeting, variance analysis, and strategic cost management. This course equips graduates with the skills to enhance organizational efficiency and profitability through nuanced cost control and strategic decision-making. - Governmental Accounting and Not-for-Profit Accounting
This course focuses on specialized accounting practices in the public and nonprofit sectors. Students gain expertise in fund accounting, budgeting, and financial reporting unique to governmental and nonprofit organizations, preparing for roles in public service accounting.
Typical elective courses in a master’s in accounting are:
- Accounting Principles
- Data Analytics
- Enterprise Risk Management
- Accounting Analytics
- Accounting Information Systems
- Advanced Financial Accounting
- Financial Statement Analysis
- Financial Accounting
- Financial Operations
- Forensic Accounting
- Financial Reporting
- International Accounting
Skills You’ll Gain
Online master accounting students learn a particular set of skills while earning their degree, which will help them achieve their professional goals and make the most of their education and training. By the end of their online college programs, graduates will be accounting professionals with desirable skills such as:
- Advanced Financial Knowledge: An in-depth understanding of accounting principles, financial reporting, and analysis.
- Auditing Expertise: Proficiency in auditing techniques, risk assessment, and internal controls.
- Taxation Competence: Advanced knowledge of tax codes, regulations, and strategic tax planning.
- Management Accounting Skills: Strategic decision-making through cost analysis, budgeting, and performance evaluation.
- Forensic Accounting: Ability to detect and prevent financial fraud on a global scale, employing advanced investigative techniques.
- Financial and Managerial Acumen: Integration of financial reporting with internal management practices for effective decision support.
- Analytical Thinking: Strong analytical skills to interpret complex financial data and make informed decisions.
- Ethical Judgment: Understanding of ethical considerations in financial practices and reporting.
- Communication Skills: Effective communication of financial information to diverse stakeholders.
- Problem-solving abilities: Critical thinking and problem-solving skills to address complex financial challenges.
Degree Types
There are typically three options for accounting master’s programs: the MS Accounting online degree program (Master of Science in Accounting), MPA (Master of Professional Accounting), and online MAcc Program (Master of Accountancy). Practically, there is little to no difference beyond the degree titles. Some schools might have slightly different curricula, but all three degrees will fully prepare master’s students to sit for the CPA Exam.
The Master of Science in Accounting (MSA)
The Master of Science in Accounting (MSA) is a specialized graduate degree focusing on advanced accounting knowledge and skills. This program prepares students for various roles in accounting, such as financial analysis, taxation, auditing, and managerial accounting. The MSA curriculum typically covers advanced accounting concepts, business ethics, financial reporting, and specialized areas like forensic accounting or international accounting.
The Master of Professional Accounting (MPA)
The Master of Professional Accounting (MPA) is a specialized graduate degree that prepares students for professional careers in accounting. This program emphasizes practical skills and knowledge in areas such as financial reporting, taxation, auditing, and managerial accounting. The MPA curriculum combines theoretical concepts with real-world applications to develop well-rounded accounting professionals.
The Master of Accountancy (MAcc)
The Master of Accountancy (MAcc) is a specialized graduate degree focusing on advanced accounting knowledge and skills. This program is designed to deepen understanding of financial reporting, auditing, taxation, and accounting ethics. The MAcc curriculum combines theoretical concepts with practical applications, preparing students for public accounting, corporate finance, government agencies, or consulting careers. Graduates of an MAcc program are equipped with the expertise and credentials needed to excel in the accounting profession.
Specializations for Accounting Students
The online Master’s in Accounting, along with Master’s in Finance and MBA in Finance online programs, presents abundant chances for students to specialize in various accounting realms, tailoring their education to their interests. For instance, the forensic accounting concentration delves profoundly into forensic accounting and financial statement analysis, enriching expertise in this domain. Some potential concentration areas include:
| Area of Focus | Description | Careers This Concentration Prepares For |
|---|---|---|
| Auditing | This specialization focuses on advanced techniques and principles of auditing. Students delve into risk assessment, internal controls, and ethical considerations. This specialization equips individuals with the skills to conduct thorough and effective audits, ensuring compliance and financial integrity in diverse organizational settings. | Internal Auditors, Forensic Accountants, and Compliance Officers |
| Taxation | This specialization emphasizes advanced knowledge of tax codes, regulations, and compliance. Students gain expertise in tax planning, consulting, and navigating complex tax issues for businesses and individuals. This specialization prepares professionals to excel in diverse roles within the dynamic field of taxation. | Tax Consultants, Tax Managers,and International Tax Specialists. |
| International Forensic Accounting | This specialization focuses on the detection and prevention of financial fraud on a global scale. Students learn advanced investigative techniques, ethical considerations, and cross-border financial analysis, preparing them to combat financial crimes and provide expert forensic accounting services internationally. | Global Forensic Accountants, International Financial Analysts, and Anti-Money Laundering Specialists. |
Management Accounting | This specialization centers on strategic financial decision-making for organizations. Students delve into cost analysis, budgeting, and performance evaluation to support managerial planning. This specialization equips professionals with skills to enhance organizational efficiency, profitability, and overall financial management. | Management Accountants, Financial Controllers, and Budget Analysts |
| Financial and Managerial Accounting | This specialization integrates financial reporting and internal management practices. Students gain expertise in financial analysis, budgeting, and decision support. This dual-focus specialization equips individuals to navigate complex financial scenarios, ensuring effective financial management in corporate and managerial settings. | Financial Analysts, Management Consultants, and Corporate Controllers. |
Graduation Timeline
Typical Timeline: 1-year
Credits to Completion: 30
Most online master’s in accounting programs require the completion of 30 credit hours, which is the equivalent of one academic year for a full-time student. However, some master’s in accounting students can take as few as 12 months if they accelerate their curriculum or have extensive transfer credits accepted by the accounting program. Those who complete their degree slower can expect 18 to 24 months to earn their master’s degree.
Accelerated Master’s in Accounting Online Programs
Typically, online master’s in accounting degrees can take two to three years, depending on many factors. However, several universities offer accelerated online master’s in accounting programs, which can shorten the time to graduation. The requirements for these accelerated graduate programs vary by university and the student’s background. While some universities provide credits for a few courses if the students have an accounting background, others provide credits if the students have a certain level of experience or another master’s degree. In some instances, some universities offer accelerated programs without any conditions, but these programs can get intensive with 5-8 week courses that require a lot of dedication and time. Here are some universities that offer accelerated online master’s in accounting programs:
Southern New Hampshire University2– 15 Months
Franklin University3– 17 Months
University of Arizona4– 12 months
One-Year Master’s in Accounting Online
While many universities offer accelerated accounting graduate programs, some offer one-year online master’s in accounting. Such 1-year programs are designed with classes lasting just a few weeks of intense coursework followed by tests. These programs can be started many times throughout the year. Also, core courses are available throughout the year asynchronously so that students can finish their coursework fast. Here are some one-year online master’s in accounting:
St. John’s University5 – 12 Months
Shorter University6 – 12 Months
Syracuse University7– 12-15 Months
Admission Requirements for Master’s in Accounting Online
Applying for a Master’s in Accounting involves submitting the required documentation. Colleges commonly mandate an undergraduate degree in accounting or related fields, ensuring applicants possess a foundational understanding of accounting principles. This prerequisite reflects the advanced coursework and specialized knowledge integral to success in Master’s in Accounting programs.
Some of the standard admissions requirements for Master’s in Accounting programs include:
- Educational Background
- Prerequisite Courses
- Minimum GPA
- Letters of Recommendation:
- GRE or GMAT
- Work Experience
- Personal Statement or Essay
- Resume or Curriculum Vitae (CV)
- Interviews
- English Language Proficiency
Prospective students should check the specific admission requirements of the universities they are interested in, as these criteria can vary between institutions and may change over time.
Master’s in Accounting Online No GRE or GMAT
The GRE or GMAT is usually a standard requirement for accounting and business graduate programs for most admissions applications. However, many schools no longer require either test scores or make them optional. There are multiple ways to get this waiver, such as possessing a particular graduate degree, professional degree, or doctoral degree (JD, MD, or Ph.D.), having an undergraduate accounting degree with a minimum GPA, or having significant executive-level work experience. Here are a few examples of universities that offer an online master’s in accounting with no GMAT:
Accredited Master’s in Accounting Online Programs
Accreditation serves as a form of independent verification by independent private organizations and government agencies that a school or academic program meets a basic level of quality. No matter which accounting school an individual attends, they need to ensure it is an accredited college. A couple of organizations that offer programmatic accreditation are:
- AACSB International10 – Also known as the Association to Advance Collegiate Schools of Business, which has traditionally accredited accounting programs that emphasize research more.
- Accreditation Council for Business Schools and Programs11 (ACBSP) – Unlike AACSB International, the ACBSP focuses more on teaching.
In addition to programmatic accreditation, universities are often accredited by of of the six regional accrediting bodies, which are:
- New England Association of Schools and Colleges (NEASC)
- Middle States Association of Colleges and Secondary Schools (MSA-CESS)
- Higher Learning Commission (HLC)
- Southern Association of Colleges and Schools Commission on Colleges (SACSCOC)
- Northwest Commission on Colleges and Universities (NWCCU)
- Western Association of Schools and Colleges (WASC) Senior College and University Commission (WSCUC)
Read more about accreditation in the Best Accreditation Guide.
Free Master’s in Accounting Online
A very limited number of educational institutions offer a free online accounting degree, but these institutions are not accredited and may not help students in their careers. The good news, however, is that plenty of recognized educational institutions offer graduate-level free online courses. Some of these courses are taken from previous years’ master’s of accounting programs, and famous universities offer some on third-party platforms. Here are some free courses in accounting:
| Course | Description | Provided by |
|---|---|---|
| Introduction to Management Accounting13 | This free course offers students insights into financial data analysis, cost management, and organizational decision-making. Students gain skills to interpret financial information, allocate resources efficiently, and make informed business choices. This foundational course enhances their ability to contribute effectively to a company’s financial strategies and success.” | edX |
| Introduction to Financial Accounting14 | This course equips participants with the technical skills essential for analyzing financial statements and disclosures in financial analysis. Explore the influence of accounting standards and managerial incentives on the financial reporting process. Upon completion, participants will proficiently interpret the three primary financial statements: the income statement, balance sheet, and statement of cash flows. | Class Central |
| Financial Accounting, Cash vs. Accrual Accounting15 | This free course offered by Udemy covers cash and accrual accounting methods, enabling students to understand financial transactions, statements, and reporting. By grasping these concepts, students develop skills to accurately record business activities, analyze financial health, and communicate essential financial information, thus aiding informed business decision-making.” | Udemy |
How to Pay for Master’s in Accounting Online Programs
Figuring out how to pay for an online master’s degree is usually at the top of any prospective student’s list of things to consider. Fortunately, federal student aid and several other resources can help students pay for their degree programs. Here are a few common forms of financial aid:
Scholarships for Master’s in Accounting Online Degree Students
Scholarships are arguably one of the most prized and commonly used forms of financial aid by any postsecondary student. Sometimes called fellowships, scholarships are forms of financial aid that do not need to be paid back. Many are sponsored or administered by various sources, professional accounting organizations, charitable organizations, and corporations.
Please Note: Students should research scholarships and be cautious of scholarship scams.
Here are a few online master’s in accounting scholarships students can explore and apply for.
AICPA John L. Carey Scholarship Award 16
The scholarship offers financial support to individuals with liberal arts or non-business backgrounds pursuing graduate studies in accounting and seeking CPA licensure. These scholarships inspire students without accounting education to explore accounting careers. Scholarship funds are disbursed to the student’s financial aid office, aiding tuition and degree-related expenses.
Amount/Award: $5000
Deadline: March 15, 2024.
AICPA Foundation Scholarship for Future CPAs17
The scholarship offers financial aid to exceptional students, motivating them to choose accounting as a major and embark on a career in the field. The establishment of this award aims to assist undergraduate or graduate students who express an interest in obtaining a CPA license following their graduation. Scholarship funds are directly sent to the student’s financial aid office to cover tuition and degree-related expenditures.
Amount/Award: $3000- $10000
Deadline: March 15, 2024.
Ernst & Young (EY) Scholarship18
The Ernst & Young (EY) Scholarship offers financial support to students pursuing accounting degrees, fostering their educational journey. This scholarship is a testament to EY’s commitment to cultivating future accounting professionals and encouraging their growth within the industry.
Amount/Award: up to $30,000 for five years
Deadline: TBA for 2024.
Grants
Grants are similar to scholarships in that they are gift-based aid that does not need to be paid back. However, they are usually awarded based on financial need, while scholarships tend to be given based on individual merit. Many grants come from the state or federal government.
Student Loans and Financial Aid
Student Loans are financial payments made for educational purposes that must be paid back in the future. These loans can come from various public and private entities, although the most common are subsidized and unsubsidized loans from the federal government. To apply for these (as well as many other forms of financial aid), grad students must complete the Free Application for Federal Student Aid or FAFSA ®.
Employer Pay
Many employers will pay for part or all of the educational costs for their employees to return to school and gain eligibility for the CPA Exam. Each employer will have its own unique rules for its tuition reimbursement program, but one typical characteristic is that recipients must agree to return to work for their employer for a minimum period after earning their degree. Additionally, certain institutions provide financial incentives for students enrolling in online programs, such as paid attendance.
Career Paths and Average Salaries for Accounting Graduates
The online Master’s in Accounting program is designed to cultivate high-caliber professionals in accounting and related fields. Graduate-level education imparts knowledge essential for diverse accounting disciplines. Choosing specializations allows individuals to showcase acquired skills and expertise. Graduates can pursue careers in a global accounting environment and various related areas, including but not limited to:
| Job Title | Job Description | Median Salary | Job Growth up to 2032 |
|---|---|---|---|
| Bookkeeping, Accounting, and Auditing Clerks19 | Bookkeeping, Accounting, and Auditing Clerks are crucial in maintaining accurate financial records for organizations. They record financial transactions, update ledgers, prepare financial statements, and assist in auditing. Attention to detail, proficiency in accounting software, and knowledge of financial principles are essential for success in this career. | $45,860 | -6% (Decline) |
| Accountants and Auditors1 | Accountants and Auditors are professionals responsible for examining financial records, ensuring compliance with regulations, and providing accurate financial information to organizations. They analyze financial data, prepare reports, offer tax advice, and help businesses make informed decisions. Their expertise in financial analysis and reporting contributes to organizations’ overall financial health and success. | $77,250 | 4% (as fast as average) |
| Cost Accountant, specialist20 | Cost Accountants are specialists who focus on analyzing and controlling expenses within organizations. They collect and analyze cost data, identify cost-saving opportunities, and provide insights to optimize operations and improve profitability. Their cost analysis and management expertise help organizations make informed financial decisions and achieve cost-effective strategies. | $115,500 | No Data Available |
| Audit and Business Controls Senior Manager21 | Audit and Business Controls Senior Managers oversee and lead organizations’ audit and control processes. They ensure compliance with regulations, evaluate internal controls, and provide recommendations for risk mitigation. They oversee audit teams, collaborate with stakeholders, and contribute to the overall governance and integrity of the business operations. | $176,600 | No Data Available |
Certifications and Licensing for Accounting Graduates
Professional certifications enhance expertise in specific skills. A Master’s in Accounting program awards a certification signifying professional education, training, and preparation. It validates the individual’s competency, demonstrating their ability to meet distinct criteria relevant to accounting roles, ensuring they are well-prepared for success in the field.
The main reason most people get a master’s degree in accounting is to become a Certified Public Accountant or CPA. To become a CPA, individuals must pass the CPA exam, which consists of four sections. Each section’s national average passage rates vary from 40 to 60 percent. Programs with much higher passage rates are usually among the best master in accounting online programs available. Beyond the passage of the Certified Public Accountant Exam, each state may have its own requirements. For example, most states require CPAs to have taken at least 150 credit hours of college courses. Once a person becomes a CPA, they must meet their state’s continuing education requirements to maintain their license. Beyond the CPA designation, accountants and auditors may obtain additional certifications, such as:
- Certified Fraud Examiner22
Certified Fraud Examiners (CFEs) possess varied skills, including a deep understanding of complex financial transactions, expertise in investigative techniques, and the ability to design effective anti-fraud programs. Affiliation with the Association of Certified Fraud Examiners (ACFE) provides continuous access to top-tier training and resources, enhancing expertise and staying current with industry trends. - Certified Internal Auditor23
The Certified Internal Auditor (CIA) certification is a globally recognized credential for internal auditors. Offered by the Institute of Internal Auditors (IIA), it signifies proficiency in internal audit practices, risk management, and governance. Earning the CIA demonstrates a commitment to excellence and adherence to high professional standards in the field. - Chartered Global Management Accountant (CGMA)24
The Association of International Certified Professional Accountants awards the Chartered Global Management Accountant (CGMA) certification. By recognizing expertise in management accounting, financial strategy, and business performance management, the certification signifies a commitment to advancing global management accounting proficiency. CGMA holders demonstrate strategic financial leadership and contribute significantly to organizational success. - CMA Certification25
The CMA (Certified Management Accountant) certification validates financial management and strategic planning expertise. Globally recognized, it signifies proficiency in areas like financial analysis, risk management, and performance evaluation. CMA-certified professionals are equipped to drive optimal business decisions and enhance organizational success. - CPA vs. CMA
CPA (Certified Public Accountant) and CMA (Certified Management Accountant) are prestigious accounting certifications with distinct focuses. CPA primarily emphasizes public accounting, taxation, and auditing, while CMA focuses on management accounting, financial analysis, and strategic planning. CPAs often work in public practice, while CMAs excel in managerial roles, decision-making, and performance analysis.
Additional Resources for Students
To remain current in the field, professionals in leadership roles can leverage diverse resources. Networking with peers, affiliating with organizations, keeping abreast of industry journals and publications, and participating in seminars and workshops contribute to a competitive edge. Here are some notable resources for online master’s in leadership professionals to consider:
American Institute of Certified Public Accountants (AICPA)26
The American Institute of Certified Public Accountants (AICPA) is a leading professional association catering to Certified Public Accountants (CPAs). It offers members a wealth of resources, expert guidance, and invaluable support. AICPA advocates for the accounting profession, upholds stringent ethical standards, facilitates professional growth through development opportunities, and provides technical resources essential for CPAs.
Institute of Management Accountants (IMA)27
The Institute of Management Accountants (IMA) is a prominent professional association dedicated to management accounting. It offers members access to valuable resources, certifications like the CMA (Certified Management Accountant), and a strong network for career advancement. IMA focuses on enhancing management accounting skills and providing professionals with industry insights and expertise.
The National Association of State Boards of Accountancy (NASBA)28
The National Association of State Boards of Accountancy (NASBA) is a key association responsible for administering the Uniform CPA Examination and ensuring compliance with state-specific accounting requirements. NASBA offers educational resources, research, and support to aspiring CPAs, promoting professional excellence and maintaining high standards in the accounting profession.
Association of Government Accountants (AGA)29
The Association of Government Accountants (AGA) is a prominent professional association focused on government accounting and financial management. AGA offers valuable resources, networking opportunities, and professional development for individuals interested in careers in the public sector. It provides insights into government financial practices and promotes excellence in government accounting and auditing.
FAQs About Master’s in Accounting Online Programs
Frequently Asked Questions
What is a Master’s in Accounting program?
A Master’s in Accounting program is a graduate-level curriculum that provides advanced education in accounting principles, financial reporting, and auditing. Designed to deepen expertise and fulfill CPA licensure requirements, it typically covers advanced accounting, taxation, and auditing topics, preparing students for roles in accounting, finance, and related fields.
How long does it take to complete a Master’s in Accounting program?
Can I pursue a Master’s in Accounting without a background in accounting?
Are online Master’s in Accounting programs available?
What certifications does the degree lead to?
What’s the difference between CPA and CMA?
Is a master’s in accounting worth it?
4 Advantages to Completing a Master’s in Accounting Online Program
Explore the advantages of pursuing an online master’s in accounting, including flexible scheduling, location independence, self-pacing, and the development of valuable time management skills.
Distance learning has revolutionized how master’s students go through entire graduate programs and accelerate their learning to achieve their degrees in very little time. Now, more than ever, master’s students can pursue additional education without giving up their jobs, sitting in a classroom all day, or paying for pricey programs.
Below are four advantages to earning a master’s in accounting online:
Flexible Scheduling
Most online master’s accounting programs will allow graduate students to take all or almost all of their coursework requirements through asynchronous learning methods. This means students can not only attend class from anywhere with an Internet connection, but they can also attend at any time that fits their schedule. This is perfect for those with busy work hours or family obligations.
Learn from Anywhere
Distance learning is just that – and it doesn’t matter how far that distance is from the physical school. There are no commutes to and from campus. Without distance learning, master’s students could only apply to programs near their home – or those they were willing to pack up and move to – and they had to be okay with attending class on campus during set hours. With online learning, grad students no longer have to accept these limitations.
Self-Pacing
Online programs offer students the option to self-pace their learning. Those with busy schedules can take their time and complete their degree at a part-time pace. Those with the drive and time to do so can load up on classes and finish several months earlier than usual.
Development of Time Management and Organizational Skills
For many grad students, the most challenging part of online learning is not the academic material, rather, it is finding the discipline to create their own schedule, buckle down, and complete their assignments in a reasonable timeframe. Completing online master’s degree programs in accounting is not only a testament to the student’s accounting prowess but also highlights their ability to stay disciplined and effectively manage their classroom and non-academic obligations, such as taking care of family members or working full-time.
Bottom Line
In conclusion, pursuing an online master’s in accounting provides the flexibility, convenience, and skill development necessary for success in the field. To take the next steps, interested individuals can explore various accredited online programs and consider their personal goals and requirements to make an informed decision about their educational journey.
Citations:
U.S. Bureau of Labor Statistics: Occupational Outlook for Accountants and Auditors
Southern New Hampshire University
Accreditation Council for Business Schools and Programs
Southern Association of Colleges and Schools Commission on Colleges (SACSCOC)
edX- Introduction to Management Accounting
Class Central- Introduction to Financial Accounting
Udemy- Accounting- Financial Accounting, Cash vs. Accrual Accounting
AICPA John L. Carey Scholarship Award
AICPA Foundation Scholarship for Future CPAs
Ernst & Young (EY) Scholarship
Salary.com- Cost Accountant, Specialist
Salary.com -Audit and Business Controls Senior Manager
Chartered Global Management Accountant (CGMA)
American Institute of Certified Public Accountants (AICPA)
Institute of Management Accountants (IMA)
The National Association of State Boards of Accountancy (NASBA)
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