Master’s Degree in Accounting
A master’s degree in accounting enhances career opportunities in the financial industry. To obtain a degree it is necessary to enroll in an accredited university that offers the degree. Many universities require an undergraduate degree in accounting, or a closely related field, to enroll. Universities require substantial work experience in accounting before accepting students into the program if an undergraduate degree is not in accounting or a related field.
Required courses for an accounting master’s degree include topic areas like taxation, legal environment, accounting information systems, financial auditing, marketing, microeconomics, and macroeconomics. A variety of managerial courses may be additionally required such as financial, production, operations, and information systems. Many programs are also broken down to include a specialization; students take specific courses pertaining to a particular accounting concentration.
There are many beneficial skills students can acquire while pursuing an accounting master’s degree. These skills include advanced research, risk analysis, business risk, problem-solving, and decision-making. Research skills are essential in accounting careers because accounting and business issues require accurate information. Both risk analysis and business risk skills allow for the creation of strategic methods and aid in mitigating risks. Identifying problems and issues, and the ability to consider appropriate solutions is essential to all accounting careers.
There are a variety of careers available to those who possess an accounting master’s degree. These careers include accounting system design, consulting, system and information analysis, auditing, and tax professions. Forensic accounting is another branch of the field that uses accounting abilities to research and obtain information regarding embezzlement and fraud. Legal proceedings in court also use forensic accounts.
Finally, a Certified Public Accountant is another career path for those who possess a master’s degree in accounting. The required coursework in a master’s degree program fulfills the requirements to sit for the CPA exam. The CPA exam is a test for professional licensing, and all the states within the United States accept it. The professional license assures the public they are dealing with qualified individuals. There are four components to the exam: auditing and attestation, financial accounting and reporting, regulation, and business environment and concepts. Each part of this rigorous exam takes three to four hours to complete.