How To Fast-Track Your MBA in Accounting

The accounting world is full of exciting opportunities, and the field is constantly evolving. Whether you want to help people manage their finances, keep companies in the black, or find new ways to assess risk and reward, a career in accounting offers many career paths.

Accounting is the language of business, and reading and interpreting financial statements are essential parts of the job. But accounting is about more than numbers—it’s about providing business owners with the information they need to make strategic decisions.

How much education does it take to be an accountant?

Accountants need at least a bachelor's degree in accounting or a related field for entry-level positions. Higher education may be required as you advance in your career, depending on the situation. Even if you are not required to have a degree, you may want to earn one to demonstrate your commitment to your career.

What are graduate degree programs are available?

The most common graduate degree in accounting is a Master of Business Administration (MBA). An MBA in accounting is a two-year program that focuses on business and finance. It is an excellent option if you want to take your career in a specific direction, ideally management.

What positions can you get with an MBA?

Accountants with an MBA are usually in management roles, such as controllers, financial analysts, and financial managers. They may also be in charge of a department or division within a company. Financial managers can make over $100,000 per year.

How long does it take to get an MBA in accounting?

The length of your program can vary depending on the required credit hours and the number of courses you take. Whether you are a full-time or part-time student and taking classes online or in a traditional classroom are also factors to consider.

Traditionally, a master's degree can take one to three years. However, with the rise of online learning, you can complete a master's degree in accounting in as little as one year. You can fast-track your MBA in accounting by taking courses online and seeing if your school offers credit for the experience you already have.

How much does it cost?

This depends on the school you choose and the program you are enrolled in. Some private schools charge as much as $40,000 in tuition alone. The good news is some schools offer online programs and low-cost options. If you are not dead set on going to a specific school, it will pay off enormously to do your research and shop around.

If you are already employed, check if your company offers tuition reimbursement. Some companies will pay for your MBA, in part or in full, if you are enrolled in an accredited program.

What accreditation should you look for?

There are two types of accreditation: regional and national. Regional accreditation is for schools in a specific geographic area. National accreditation is for schools that are recognized across the country. Both are good to have, but it is essential to understand that some accrediting agencies are more rigorous than others.

You may have seen news stories about online schools that have been accused of fraud. This can be a concern for prospective students. However, many reputable online schools have been around for a long time.

When you start looking for online MBA accounting AACSB is a good accrediting agency to look for. The Association to Advance Collegiate Schools of Business has been around since 1916 and is recognized internationally as the industry standard in business education.

In Summary

An MBA is a great way to advance your career in accounting. If you are looking for a flexible degree, online classes are the way to go. Being open-minded about the schools you choose can give you more options and a greater chance of success. Online degrees can be less expensive than on-campus programs and also quicker. No matter what method you choose to get your MBA, make sure, a trustworthy agency accredits the program.

What to Look for in Online MBA Programs for Business and Career Growth

Once you decide that you want to get your MBA to further your business career, you have to consider what school you’re going to attend. There are all sorts of online MBA programs, making it easier for you to work full-time while getting your MBA. By comparing the programs, it will allow you to find the one that helps you to reach new and exciting career opportunities.

The Cost

All of the different online programs vary based on the number of credit hours as well as the school itself. You’ll want to look at what the cost of tuition is going to be. Consider whether you want to attend a private or public school for your degree.

The cost isn’t necessarily what’s published on the school website, either. If you’re a resident of the state, you can often get resident pricing. Further, there may be various grants and scholarships that you can apply for. Some schools guarantee that all students will receive at least some portion of their tuition covered.

Specializations

When you decide to participate in online MBA programs, most schools will require you to choose a specialization. This ensures that you focus on your education in one particular area of business.

Some of the most popular specializations include:

• General management

• International management

• Finance leadership

• Entrepreneurship

• Consulting

• Marketing

• IT/Tech

There are all sorts of different specializations, though not all schools offer all of them. This is why you’ll want to do your research. Consider what you want to specialize in. Then, you can narrow down the school programs based on what they have to offer. It will ensure you get the education needed to succeed in the career you want to have.

The Length of the Program

The average MBA program is two years. It consists of 36 credit hours, which are generally broken down across four semesters. There are various programs that will allow you to adjust the time to your schedule.

There are both part-time and full-time programs for you to explore. Many online MBA programs have accelerated studies that will allow you to complete your MBA in approximately 18 months as long as you’re willing to put the work in.

Once you decide you want to pursue an MBA, you have to consider how much time you can dedicate to the courses. Some people choose to take the courses as quickly as possible due to their personal circumstances such as a job prospect or career advancement goal. Others choose to take only a course a semester, which can result in the MBA taking four years or longer.

The Prestige of the School

Not all schools are the same. Some are accredited by different entities. Some schools have more extensive programs, higher graduation rates, and more. When you decide to find online MBA programs, take a look at what the school’s prestige is.

The reason it can be a good idea to attend a prestigious school is that it will look good on your resume. Additionally, many schools have a 90% or higher placement rate among their MBA graduate students. What this means is that the schools will help you to get hired by a top company upon graduating from their program. The more prestigious schools also work with more prestigious companies. It can grant you some incredible opportunities to move forward with your career.

Getting an MBA can be more affordable than you might think. Don’t assume you don’t have the time or money to complete the program. If you want to get ahead in your career, having an MBA can make a big difference. Simply decide what kind of career you want and start exploring the schools that offer MBA programs, either online, on-campus, or a hybrid of both.

7 Steps to Take When Preparing for a Master’s in Business Administration

By: Rosana Beechum

Earning a master’s in business administration (MBA) can equip you with a credential that will make you a more eligible candidate for an extensive selection of managerial and administrative jobs. Of course, since such high-ranking positions are often the highest-paying and most prestigious jobs on the company roster, pursuing an MBA is an understandable and admirable goal for any ambitious professional to set their mind towards. However, the simple act of earning the degree isn't going to get you where you're trying to go. To achieve the desired outcome of having a fruitful career, here are seven preparatory steps you can take to get ready for an MBA program:

1. Attend an MBA Event to Compare Schools

Opting for the first online program that you find can be tempting when you're in a rush to get started, but it's better to examine all available options first. Attending an MBA tour event is a great way to interact with schools that offer business administration degree programs. You'll be able to ask questions about the curriculum and requirements, ask for general advice on the enrollment process, and receive direct one-on-one support from some of the best MBA schools in the country. You can learn more about their events and register to attend at The MBA Tour website.

2. Consider All Relevant Career Paths

Knowing exactly how you're going to use an MBA to your advantage before you even start studying is a wise approach because then you can gear your other academic and self-improvement efforts towards that end goal. Visit the top job search sites and browse through listings for positions that prefer or require candidates with MBAs.

3. Think of Another Degree That Will Complement Your MBA

While an MBA is certainly a fast-track to establishing yourself as a qualified professional for a variety of desirable job positions, it doesn't have to be the end of your career advancement efforts. In fact, having one or two accompanying degrees will only serve to elevate your chances of being the chosen candidate when you're vying for competitive openings.

4. Understand that You Will Need to Set a School Schedule

If you opt for a fully online program, it's easy to feel like you'll be able to knock out the modules in no time without major impact on your current obligations. Although you will indeed have the flexibility of making your own schooling schedule, it's imperative that you do so from a realistic standpoint – allocating a decent amount of time to your education each day instead of putting it off perpetually.

5. Adjust Upcoming Work Obligations Accordingly

In line with the previous tip, you may need to make some adjustments to your working life by taking certain days off or switching to a part-time roll. While that may reduce your current income, it's important to remember that you're working towards a much higher-paying career, so sacrificing some of your current work hours will be worth it in the long run.

6. Take a Few Learning Improvement Courses

Short courses like those found on Udemy and other course provider platforms can give you quick certifications in a matter of weeks or months. If you focus on these courses while studying for your MBA, by the time you graduate you'll have several accompanying certificates and qualifications that will boost the appeal of your resume even further. Likewise, improving your ability to learn new concepts with memory exercises, puzzles, mini courses, and quizzes will help you prepare to get the most out of the MBA degree program you choose.

7. Line Up Career Enhancement Efforts

What are you going to do after you graduate from an MBA program? While it might seem a bit early to start thinking about that, being prepared will help you make appropriate decisions regarding your specializations and educational efforts going forward.

Are you prepared to relocate to find your dream job? Is working abroad something you might be interested in? What is the exact lifestyle you are striving towards? Answering these simple questions can help you develop an effective career enhancement strategy that can be activated as soon as you've obtained your MBA.

1 Hour Per Day is Better Than Nothing

Even if you're only dedicating one hour a day towards your schooling, you'll be slowly but surely moving towards your goal instead of stagnating. If you have the discipline to cram more work and study into your everyday life, you might not even have to reduce your hours at work as mentioned in tip #5 above –  simply requesting a shift change or asking for an extra day off could provide the adjustment needed to allow you a bit of study time before and after work. Ultimately, it's up to you to decide how quickly you want to upgrade your credentials, but keep in mind that procrastination and hesitation are negative traits.

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