Why Earn a Masters Degree in Accounting
A Master’s Degree in
Accounting is a professional graduate level degree that is offered by many
colleges and universities. Some schools call this degree a Master of Accountancy
degree, a Master of Science in Accountancy degree, or a Master of Professional
Accountancy degree. This degree is usually offered from a university business
school.
A primary goal of a graduate level accounting program is to
permit a student to complete accounting coursework that prepares him to sit for
a CPA exam, or certified public accounting exam. Most states require the
completion of one hundred fifty credit hours of undergraduate and graduate level
accounting courses as a qualification to sit for the CPA exam. Students with a
Bachelor’s Degree in Accounting often do not have enough credits to sit for the
CPA exam. People with a Bachelor’s Degree in Accounting and no graduate level
coursework can still qualify for the CPA exam if they have two years of work
experience in the accounting field.
Some people get a Master’s
Degree in Accounting, to help prepare them for other professional accounting
examinations. People who want a career in corporate accounting can use graduate
accounting education to prepare them to take the CMA exam, or certified
management accountant exam. Students who want to work as internal auditors for a
corporation can use graduate accounting coursework to prepare them for the CIA
exam, or certified internal auditor exam.
Programs that offer
graduate accounting degrees often allow students to concentrate in specialized
areas. Students can take only accounting courses, they can take some accounting
courses and some tax courses, or they can mix accounting coursework with
graduate level business courses. Students who anticipate running their own
business or working in a management position may get more benefit from a
Master’s in Business Administration degree rather than a Master’s Degree in
Accounting.
One of the best graduate level accounting programs is
offered by the University of Texas at Austin. This school offers a Masters in
Professional Accounting degree. Most students complete this program in a year.
Texas students can seek a general accounting education or they can specialize in
tax accounting, managerial accounting and control, or financial
reporting.
Another excellent graduate level accounting program is
offered at the University of Illinois at Urbana. This university offers a Master
of Science in Accounting degree for students who did not major in accounting as
an undergraduate. A Masters of Accounting Science degree, or MAS degree, is
offered to students who already earned a Bachelors Degree in accounting. This
school offers specializations in Taxation, Finance, and Information
Technology.
A Masters in Accounting degree can be a good choice if
you would like to become an accounting instructor. Graduate level study provides
an additional recognition of educational achievement that a Bachelor’s Degree
alone does not match.
Many students decide to pursue a graduate
degree in accounting because it allows them to take the CPA exam sooner than
students with only a Bachelor’s Degree. Some accountants without graduate level
education cannot afford to pursue a graduate degree, and they must wait to take
the CPA exam until they have completed two years of on the job experience. For
students who want a faster track to a successful career, a Master’s Degree in
Accounting program can be a good choice.