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Masters in Accounting Online

The field of accounting deals with various aspects of financial activities and cash flow within a company or a government organization. These include investments, research and development costs, purchasing and marketing costs, company payroll and payment of taxes. Accounting also involves the recording and auditing of various financial expenditures and reporting them to supervisors, directors and shareholders. According to the American Institute of Certified Public Accountants, the majority of the accounting firms in the country will continue their expansion into the next decade, which makes careers in the field of accounting a safe and a good option.

What is the Master of Accounting?

If you already hold an undergraduate degree in accounting or a business related field, and wish to move up in your career, you can enroll in the Master of Accounting degree. This graduate degree allows students to specialize in fields such as risk assessment, project management, auditing and taxation. After graduation, students normally take a certification exam such as the Certified Public Accountant (CPA) or Chartered Accountant (CA) exam, before they start work.

Is an Accounting Degree Right for You?

If you wish to enroll in an accounting degree, there are several skills that you should have or should be able to develop over time. These include analytical skills, communication capabilities, attention to detail, and mathematical skills.

Program Objectives

Most of the master degrees in accounting are designed in such a way that students
  • Learn to apply accounting concepts, theories, and practices to different business situations.  
  • Become familiar with the fundamental concepts of accounting and financial reporting, auditing procedures, and ethical business considerations. 
  • Learn how to generate and analyze accounting data
  • Deal with risk management and related practices

What will you Study?

There are variations in the names and types of courses offered across different universities. However most universities offer courses such as the following:
  • Cost Accounting
  • Financial Statement Analysis
  • Advanced Corporate Taxation
  • Federal Tax
  • Intermediate Accounting
  • Ethical issues in business and accounting
  • Internal Control Assessment and Design
  • International Accounting Standards
  • Government and Not-For-Profit Accounting
  • Accounting Law and Regulation
  • Capstone Project

What are the Admission Requirements?

Every university has a slightly different set of requirements for students. However typically you’ll be required to provide the following:
  • Hold a bachelors degree in accounting, finance, or a related discipline.
  • Have a minimum level of GPA
  • Submit standardized test scores
  • Provide official transcripts, letters of recommendations, and personal statement.

What are the Future Prospects?

The following information has been taken from O* Net Online

Median Annual Wage:  $65,080 per year

Job Growth Rate:  8-14%

Job Responsibilities: Accountants are generally responsible for:
  • Preparing and analyzing accounting data, and making sure that it follows the financial regulation and best standards. 
  • Using computer technology to design and use accounting systems.
  • Making calculations such as taxes payable and filing tax returns
  • Preparing and analyzing budgets and expenses of companies.
  • Analyzing profitability of business and forecasting future revenues, and costs.

Some graduates may work as bookkeeping, accounting, and auditing clerks, budget analysts and auditors. According to the Bureau of Labor Statistics, the top industries that hire accountants and auditors include the following:
  • Accounting, tax preparation, bookkeeping, and payroll services
  • Government
  • Finance and Insurance
  • Management of companies and enterprises
  • Manufacturing

Frequently Asked Question(s)

Q:How soon can I find a job with the online masters in accounting degree?

A:A master's degree can truly enhance your employment opportunities, if you are already employed then your growth prospects can also be fostered through a specialized degree program. Upon the completion of your online master's in accounting program, you can easily find jobs at banks, insurance companies, credit card companies and in finance departments of various firms. However, your options are highly dependent on the area of your specialization such as the master of public accounting or the master of forensic accounting.

Q:Can you tell exactly how long will it take me to complete an online masters degree accounting?

A:The duration of a masters degree in accounting depends upon which instate you decide you enroll in. Some institutes may offer a two year program, while others may offer accelerated programs. You will have to find out the exact duration of a masters degree in accounting by getting in touch with the admission department of the institute.

Q:Are the subject studied in an online masters in accounting the same as the subjects offered in a campus based accounting degree?

A:Yes, the subject embedded in the curriculum of an online accounting degree are the same as the subject found in a campus based accounting degree. The curriculum of both programs are the same, it is only the mode of learning that is different. Online programs are more convenient to pursue as compared to campus based degrees.

Q:When doing a Masters in Accounting Online, what specializations can I choose from?

A:An online master's in accounting will allow you the chance to choose a specialization area to increase your expertise and job opportunities. Accounting, banking, investment banking, real estate accounting, insurance, asset management and financial management are just some of the offered specializations in accounting which will allow you to propel your career farther.

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