With the demand for accountants on the rise, it is no surprise that A Master’s degree in Accounting is becoming a preferred choice by employers and also by prospective students. A Bachelor’s degree majoring in accounting will help students build a solid foundation of knowledge so that they can show that they are proficient in the field following graduation, but a Master’s degree focuses on helping students achieve mastery and an expertise in the field. As you might expect, when you demonstrate mastery rather than just proficiency, you will be eligible for higher level positions within large organizations that undoubtedly pay more. Here is your guide to some of the occupations you can pursue once you attain your MAcc:
A Greater Range Of Career Options for Graduate Students
If you earn a Bachelor’s degree, you may need more credit hours to qualify to take your CPA exam. If you are enrolled in a MAcc program, you will surely fulfill the CPA requirements and gain more technical knowledge before you are tested so that you can ensure that you pass the test. With your MAcc and your CPA, a wide range of different high-paying accounting occupations will open up to you. These occupations exist in both the public and the corporate sector, and MAcc applicants typically have less limitations when it comes to finding a position.
Occupations Where a Master’s Degree is Required or Preferred
There is a long list of different professional roles that graduates play in the field of accounting in the public and corporate setting. Each of these roles offer different pay scales and different sets of responsibilities, and you should consider all of the factors before you decide which career path you would like to take. Here is a list of occupations where a MAcc is ideal or required:
- Senior Auditors working for audit firms or departments in corporations.
- Forensic Accountants who investigate fraud and misconduct generally need an MAcc.
- Financial Planners do not need a Master’s for entry-level roles, but a Master’s will increase earning and improve prospects for employment.
- Financial Managers in large organizations work under the CFO and are required to have an MBA or MAcc.
- Controllers have a Master’s degree requirement.
- With experience and a MAcc, you may be able to become a CFO.
How to Choose a MAcc Program?
If you would like to become an upper level accountant, the next step is to apply to the right graduate school for admissions. You will need to possess a Bachelor’s in a related field and also pass a Graduate Record Examination before you will be admitted into a graduate program. This will show you have a basic accounting knowledge and have the skills necessary to make it through coursework. Once you do this, you should research the duration of multiple programs and select a school and program that is accredited. There are regional accrediting bodies, but it is very important to choose a program that meets standards set by specialization bodies in the field. The AACSB and the ACAT are two bodies that oversee and set accountancy academic standards.
First, set your goals. Once you know where you would like to go within the field of accounting, gain the knowledge you need and the degree that is preferred to stand out. With an MAcc, you can earn a large salary and work in a stable setting.