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.
