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Prospective finance students may be interested in pursuing an accredited Online Master of Accounting. While an online education offers affordable flexibility, some students still worry about the accreditation quality of their online program. Read on to learn about college accreditation for accounting degrees.
Why Does Accreditation Matter?
College accreditation refers to the voluntary review of educational programs by independent organizations in order to verify the school’s academic quality and consistency. Colleges that maintain accreditation from prestigious accrediting agencies demonstrate that their institution continually maintains the highest learning standards. Accreditation is also important because it helps determine the college’s eligibility for federal Title IV assistance, state financial aid programs and employer tuition assistance programs. Additionally, recognized accreditation is an essential requirement for graduate programs, college credit transfers and professional licensure, such as an accounting CPA credential.
Who Accredits Traditional Accounting Degrees?
The most widely recognized and accepted type of college accreditation is regional accreditation. Generally speaking, most college credits or degrees that are received at a regionally accredited college will be accepted by other regionally accredited colleges. However, non-regionally accredited programs are generally not as accepted. Bear in mind that every college has their own specific policies and requirements regarding credit and degree transfers. Any online accounting program that is regionally accredited is a legitimate degree program.
Resource: Top 10 Best Online Master of Accounting Degree Programs
One of the oldest regional accrediting bodies is the New England Association of Schools and Colleges (NEASC). This venerable institution was established in 1885 and accredits over 2,000 educational organizations. For example, the NEASC’s Commission on Institutions of Higher Education (CIHE) accredits Harvard, Yale and Brown University. Next, the Southern Association of Colleges and Schools and the North Central Association of Colleges and Schools each accredit over a dozen states. Finally, there are also the small accrediting bodies known as the Northwest and Middle States Association of Colleges and Schools.
Who Accredits Online Accounting Programs?
Certain schools exclusively offer distance education courses. The accrediting body for online schools is a national organization known as the Distance Education Accrediting Commission (DEAC). However, the DEAC is not regionally accredited and therefore, any accounting degree obtained through a DEAC program will probably not be accepted by a regionally accredited college. The Department of Education and their active counterpart the Council for Higher Education Accreditation (CHEA) both recognize the DEAC. Any student who wishes to pursue an online master of accounting degree should verify the school’s accreditation through the Department of Education.
A Typical Curriculum for an Accredited Master’s Degree in Accounting
Master of Accounting programs are designed for students who wish to become CPAs, auditors, accountants and financial analysts. These programs are designed to help students work in the competitive fields of banking, insurance and investing. Some students choose to specialize their master of accounting program in auditing, taxation or forensics. For example, an auditing concentration will teach the student about fraud, federal regulations and financial reporting.
All degree programs will teach the student about basic accounting topics, such as cost accounting, internal controls and financial reporting. To illustrate, cost accounting will introduce the student to accounting practices and systems that record and report cost data. Financial reporting classes will cover everything from assets and liabilities to stockholders’ equity to consolidation reports.
An accredited Online Master of Accounting is an excellent way to increase income potential and career advancement opportunities.