What are the Prerequisites for a Master’s in Accounting?

Before you look at the types of jobs you can get with a degree in accounting, you may want to look at the prerequisites for a Master’s in Accounting.

Going to graduate school is the only way that you can qualify to take the Certified Public Accountant examination in your state. Each state requires that those who sit for the CPA exam have at least five years of college completed before taking that test. Before enrolling in a graduate accounting program, you must make sure that you know the prerequisites in place for those programs.

Basic Accounting Knowledge

One of the first things that colleges look for is whether you have basic accounting knowledge. As part of your application, you must submit an official transcript from your college that shows you had either a major or a minor in accounting. While not all grad schools require that you major in accounting, many colleges will look at your transcript to ensure you took classes in financial, intermediate and tax accounting. If you meet all other prerequisites but did not take those classes, you’ll need to take each one before taking graduate accounting classes.

Standardized Test Score

Most graduate programs that require an advanced understanding of mathematics topics will ask that you take the GMAT before enrolling. Also known as the Graduate Management Admission Test, your score determines whether you will get into the school you want to attend and whether you get into an advanced accounting program at any college. The minimum score on the GMAT is a 200 and 800 is a perfect score, but most colleges want students who scored at least 500. U.S. News & World Report found that among the top 11 colleges with applicants who scored the highest on the GMAT that those students scored 715 or higher.

Completed Application

Many of the prerequisites for a Master’s in Accounting surround the basic application. This application varies between graduate schools, but it often consists of at least two sections. One of those sections requires information about your background, including where you live, the names of your parents, where you went to college and the type of degree you have or will finish. The second section deals more with your test score, class ranking, extracurricular activities and work experience. Some accounting grad programs also ask for your response to an essay question, letters of recommendation and a copy of your resume.

4 + 1 Programs

If you think that you want to go to graduate school after college to study accounting, consider enrolling in a 4 + 1 program as an undergrad. Designed specifically for students who want to complete two accounting degrees, these programs let you complete all your studies in five years instead of six years. You’ll have the chance to take graduate courses during your senior year and finish out the graduate program over the course of one additional year. Many colleges that offer graduate accounting programs also offer 4 + 1 programs.

A Master’s in Accounting can prepare you for the CPA exam and also help you make more money over the course of your career. Before enrolling, make sure that you look at some of the prerequisites for a Master’s in Accounting program, which may include taking the GMAT, majoring or minoring in accounting and completing an application.