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Since you will need to show potential employers that you have mastered more than just accounting basics to find success in today’s competitive business arena, you may want to get an MBA in Accounting to advance your knowledge in this specialty area. Named one of the most popular specializations offered nationwide, the Master of Business Administration in Accounting is renowned for preparing graduates for leadership in top-level positions at some of the most prestigious accounting firms, corporations, and financial institutions. According to the Bureau of Labor Statistics, as employment growth for accountants is expected to grow at the rate of 13% before 2022 due to an increased focus on accounting from recent financial crises, it is an excellent time to consider pursuing an MBA in Accounting from an accredited graduate business school.
Structure of an MBA in Accounting Degree
With the goal of preparing students to become certified professional accountants in diverse areas of business and finance, an MBA in Accounting degree is a rigorous two-year professional graduate degree program. Typically requiring between 50 and 75 credits to finish all degree requirements depending on previous business background, an MBA offers a broad-based foundation with courses in organizational leadership, business law, management, and ethics. Specializing in accounting will include concentrated courses in budget planning, auditing, financial reporting, taxation, sales, capital markets, and accounting information systems. Most will also require the completion of a capstone or thesis project for applying accounting principles into a real-world consulting project within an accounting firm.
How to Find an MBA in Accounting Program
Due to the fact that not all MBA in Accounting programs are created equal, it is important that you do your homework to find the program that will provide the training you need to succeed. The best MBA in Accounting programs that follow the highest quality standards in graduate education will be accredited by the Association to Advance Collegiate Schools of Business. In addition to looking for accreditation, you should take into consideration the program’s job placement rate, accounting curriculum, faculty credentials, location, student services, experiential learning opportunities, and tuition rate. If you are balancing a full-time job or are looking for a more convenient self-paced learning option, there are many online MBA in Accounting degree programs available nationwide at an affordable price.
When to Choose a Master of Science in Accounting Instead
Although pursuing an MBA is a long-standing tradition for many business leaders across various sectors, there is a growing trend for graduate business students to choose a specialized Master master’s degree instead, according to US News and World Report. While an MBA has numerous benefits for providing a well-rounded education on all aspects of business, students pursuing an MSA are able to deepen their knowledge specifically in accounting. Enrolling in an MSA program is often tailored more towards students with less full-time work experience as well, so that students do not have to enter the workforce after graduation. Furthermore, specialized MSA programs can typically be completed within just 12 to 16 months for an accelerated degree path.
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Overall, MBA in Accounting programs are available nationwide to provide a thorough background in business theory for application in preparing financial records in the business world. Whether you choose to get an MBA in Accounting or a Master of Science in Accounting (MSA), pursuing a master’s degree specialized in accounting is the best way to unlock leadership positions as an accountant, auditor, bookkeeper, budget analyst, or even Chief Financial Officer.