So, what is an online accounting master’s degree, and why is it important? Discover more about this important and popular program in the FAQs below.
Why does this degree matter?
A master’s degree in accounting is the primary qualification in taking the CPA Exam. Most state boards of accountancy will require exam applicants to complete 150 credit hours of college level coursework, yet the typical bachelor’s degree consists of only 120 to 130 credit hours. This means an extra year of full-time coursework is necessary to be eligible to take the CPA Exam. A master’s degree in accounting helps master’s in accounting students meet this requirement.
What are the admission requirements?
Each program will have its own admissions requirements, but most will require a bachelor’s degree in business or accounting plus the completion of 15 to 21 credit hours of basic and upper level accounting courses. Additionally, many programs will require master’s applicants to take the Graduate Record Examination (GRE) or the Graduate Management Admission Test (GMAT). However, for interested students looking for online master’s in accounting programs with no GMAT or GRE, they are in luck: there are plenty of programs that don’t require these test scores or make them optional.
How long does it take?
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 10 months if they accelerate their curriculum or have extensive transfer credits accepted by the accounting program. Those who choose to complete their degree at a slower pace can expect to take 15 to 22 months to earn their master’s degree.
What certifications does the degree lead to?
To make the most of an accounting career, graduates should look into becoming a Certified Public Accountant (CPA). It’s a prestigious designation that can open up many professional growth opportunities. When a CPA enters the workforce, this certification can help attract new clients and bring additional business to an accounting firm.
Which master’s degree should I pursue?
There are typically three options for accounting master’s degrees: the MSA (Master of Science in Accounting), MPAcc (Master of Professional Accounting) and MAcc online degrees (Master of Accountancy). On a practical level, there is little to no difference beyond the degree titles. Some schools might have slightly different curriculums, but all three degrees will fully prepare master’s students to sit for the CPA Exam.
What does tuition look like?
Students can expect an online accounting master’s degree to cost anywhere from $14,000 to $24,000. Of course, this will vary widely based on a school’s tuition rates, students’ state of residency and if a student has completed any outside coursework that will transfer to the master’s program.