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When you are planning on earning a graduate degree as an accountant, it is important to know the difference between a Master of Science in Accounting and an MBA in Accounting. While both the terminal Master’s degree and the professional Master of Business Administration are advanced degrees that will add to any accountant’s resume, how you put your degree to use in your professional life will dictate which program is best for you. You need to learn what type of courses are offered, what the emphasis of the curriculum is and also how much you can expect to spend on school before you start to apply to graduate or business school. Read on, and learn what you need to learn to distinguish between each type of advanced program.
What Does a Master of Science Program Majoring in Accounting Prepare You For?
The primary objective of any professional graduate Master of Science program is to help you develop an advanced knowledge base so that you can pursue a mid-to-senior-level accounting position. The curriculum is designed to make you a critical thinker and a problem solver. As a graduate student, you will study global economics, corporate tax strategy, advanced cost accounting, advanced auditing and regulation. You will also have classes that focus on research and will be required to complete a semester-long capstone project before you graduate as a Master of Accounting. Once you graduate, you will be prepared to test to become a CPA and may be eligible for upper-level accounting and auditing positions.
What Does a MBA Program with a Concentration in Accounting Prepare You For?
An MBA may be an advanced business degree that prepares to make you familiar with several aspects of business, but you can choose a concentration. If you choose to study for an MBA with a concentration in accounting, you will cover high level broad topics that all pertain to business. While you will take accounting coursework, the courses are not considered to be the core focus. Instead, the emphasis is business, according to MBA. This means that you will take less courses that are focused on accounting and more that prepare you to be a well-rounded business professional or entrepreneur.
What is the Difference in Costs Between MSA and MBA Programs?
If cost is your primary concern, you should research the differences in tuition rates. While the tuition rates can vary significantly across the globe, but typically the credit requirements are lower to earn your Master of Science in Accounting. Since you have to complete less credits, you will complete the program in less time. This translates into fewer classes and less textbook fees. No matter which type of program you take, you will have to spend money, but there can be a difference that will help you make your final decision.
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You should also review the admissions and prerequisite requirements when you are planning to enroll in advanced studies programs. Most MBA programs will accept all majors who have a Bachelor’s degree from an accredited school, but they may require some professional experience. If you want to study for a degree immediately after you graduate, you can study for a master’s fresh out of your undergrad program. Use this guide on the difference between a Master of Science in Accounting and an MBA in Accounting, and then you can make the most practical choice.