Top 5 reasons you should seek a Masters in Accounting

Earning a Masters in Accounting is an outstanding investment in your time.  Don't get frustrated if you are stuck in boring job.  Take action and look at the upward potential of being a highly educated, licensed accounting professional.

If you wanted to earn your Certified Public Accounting (CPA) license, but did not think you had the prerequisites, then look seriously at the possibilities of a Masters degree in Accounting.  The college credits you earn in this program will also count towards the 150 credit requirements in most states.  The same class will count towards your Masters in Accounting and it will also count towards the prerequisites for earning your CPA.  

One of the benefits of earning your Masters in Accountancy is that you will be more competitive for more senior jobs. With those new roles will come higher salaries and total compensation packages.

As the late night infomercials say "But, wait! There's more!"

A Masters in Accounting will be a great preparation for sitting for the CPA Examinations. Look at the salary chart below. That is not just for accountants with CPAs or with a Master's degree. It is for all accountants.

Earning your Master's and/or your CPA will easily place you in the top of your bracket.

Accountants are not just the "person who does your tax." Certainly, tax preparation is a lucrative job that has a lot of stress during tax season, but offers great flexibility during rest of the year.

Accounting can be divided into four major fields as defined by Bureau of Labor Statistics, U.S. Department of Labor:

1. Public Accountants
2. Management Accountants
3. Government Accountants
4. Auditors and Internal Auditors

Accountants are involved in mergers and acquisitions, in forensic accounting, in government, and in virtually every business in the world. Here is a great guide to help you get hired in one of the Big Four accounting firms. Getting a job at one of these firms is a GREAT way to give your career a jump start after earning your Masters in Accounting!

With the passing of the Sarbanes-Oxley (SOX) Act, a lot of focus was placed on the role of accountants. SOX was enacted after a rash of major accounting scandals shook the financial markets, including Enron, Adelphia, Tyco and Worldcom.

There are numerous roles for accountants in modern business, and the roles will continue to expand and become even more dynamic.

As you probably know, most states require 150 credit hours before an applicant is allowed to earn the Certified Public Accountant license.  Each state has its own requirements, so check here for your particular state.

Some states, such as Washington, will credit 4.5 hours for a 3 credit course, if the accounting course was at the graduate level.  Earning a Masters in Accounting benefits applicants who did not major in accounting as an undergraduate, because those credits will "count more" towards the prerequisites for some Accounting Boards.

If you need to take more accounting classes to meet the minimum to be eligible to sit for the CPA exam, then seeking a Masters degree in Accounting may be a good option for you.  There are many online accounting courses to choose from if attending a traditional university is not convenient for you.  You may be VERY surprised at how close you are to earning your advanced accounting degree.

According to the Bureau of Labor Statistics, accountants and auditors should experience a "much faster than average" employment growth between 2008 and 2018. Accountants and auditors with professional certifications (like a CPA) will have the best prospects.

Applicants with a Masters in Accounting or a MBA with a concentration in accounting should also have an advantage.

The role of the accountant will continue to be valued as regulations become more complicated, tax laws change, and corporations need accurate financial statements.

Scholarships for Women Students

Government Finance Officers Association