With a competitive global business market, employers increasingly prefer hiring individuals who possess advanced qualifications in their respective field. Many accountants who wish to climb up the career ladder and obtain senior level positions within their organizations may choose to earn a master's degree in accounting. With a master in accounting degree, individuals could enhance their critical thinking and analytical skills as well as stay abreast with the latest developments in the field.
A master's degree may typically be completed in two years. Many accredited schools and institutions offer a Master of Science in accounting degree program, and this may be offered both online and on campus. In an accounting master's degree program, individuals have an opportunity to specialize in a field of their interest, and these could include project management, financial risk management, taxation, or payroll management.
Master's Degree Program Admission Criteria
While the specific admission criteria for enrolling in a master's degree program may vary for each school, but applicants may need to meet some common basic requirements. Individuals will need to have a bachelor's degree and have a good GPA (at least 3.0 on a scale of 4.0). Moreover, individuals might also need to take the GMAT exam as part of their admission process. International applicants may also be required to take English proficiency exams such as IELTS or TOEFL.
Curriculum
While the exact curriculum could be different at each program, some similar topics may include the following:
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Corporate taxation
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Advanced accounting
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Principles of auditing
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Audit simulation
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Principles of profit planning and control
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Accounting analysis of financial statements
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Taxation of real estate transactions
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International financial reporting standards
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Tax provision and related topics.
Online Education
An online master's degree program may have numerous advantages for individuals. Working individuals who wish to advance their knowledge and analytical skills could enroll in online programs in accounting without disrupting their work routines. Also, an online program enables individuals to study at their own pace and at times that fit within their current personal schedule. They will not need to commute to campus, and students may study wherever they want and whenever they want. A variety of multimedia techniques such as podcasts, webcasts and online presentations are used to help ensure effecting teaching and student learning. Moreover, online courses may be cheaper than on campus programs.
Job Outlook and Pay
Earning an accounting master's degree could help students become qualified for a variety of exciting careers. They could become financial analysts, auditors, corporate accountants, and even certified public accountants after taking additional examinations. According to the US Bureau of Labor Statistics (BLS), employment of accountants and auditors is projected to grow by 13 percent from 2012 to 2022, and this is a rate that is about as fast as the average of all other occupations. With regard to pay, according to BLS, the median annual wage for accountants and auditors was $63,550 in May 2012.