Research Schools

Masters Degree in Accounting Demystified

No matter how much money flows into this world or out of it, there’s one person who’d never go out of job. That one person is an Accountant. Is there less money coming in? Figure out why. Is there too much money coming in? Manage it well and good.

An accountant’s job never goes out of style. If you feel that you always had a knack for balancing debit and credit sides, accounting might be the right profession for you. An accounting degree is all you need to take a step ahead, and a Masters Degree in Accounting does just that. There’s a never ending scope in accounting that would carry on till time immemorial.

A master’s degree in accounting means you earned something that’d make you a pro in tallying lefts and rights of money. Not only does a Masters Degree help in landing you a better job, the insights you get on subject of your forte make it an elucidating experience. A master’s degree in accounting can walk into the list of easy college majors as it is efficient, effective and simple at the same time.

We are now going to delve into the plethora of Accounting and figure out why master’s degree in accounting is the way to go if you plan to make a career out of it. We are also going to learn about all the jobs that you can enroll for once you get a master’s degree in accounting. Bring out your Balance Sheets and get ready to learn about Accounting as a profession.

What is Accounting about?
Gone are the days when the art of accounting was just punching excruciating numbers on the calculator only to fair them down in a register. Right now it is a complicated modern art that involves showcasing numbers in a sensible yet beautiful manner. Accountants keep the firm’s head above water, they solve crimes (for real) and they are government servants.

So it can be rightly said that accountancy is not just a layman’s job. It requires sheer determination, razor sharp math skills and a head clear with all accounting concepts and postulates. Managers and experts realized that they need more from an accountant than what meets the eye. After all, an accountant looks at the money and shows the way ahead.

So the need of a master’s degree emerged, and hence it was born—the Master’s Degree in Accounting.

Does a Master’s Degree help?
Master’s Degree is of utmost importance for every professional and his/her career. Be it any degree that s/he opted for in Bachelor’s, s/he would have to get a master’s degree to pimp up that resume. Be it something from this list of easy college majors or a master’s degree in course of their choice, this degree is extremely crucial.

Before a Master’s degree in Accounting, the students are just ‘accountants’. After that, however, this master’s degree is the key to a door that would let them go places—not just as an accountant, but a lot more beyond an accountant’s horizon. A master’s degree is a key checkpoint in the map to become a CPA.

A Certified Public Accountant (CPA) is a lucrative option for anyone looking to hire an accountant. It just doesn’t stop at working for Fortune 500 tycoons, but there is a great scope of development when it comes to working for Government and its authoritative bodies. You don’t have to be a CPA to tally the books; in fact it is a tough nut to crack.

However if you want to be one of the finest accountants, CPA is a star you must carry on your chest. One can be an accountant and not be a CPA too. Let’s understand that logic in a better manner.

CPA and Accountant walk into a bar…

If you are thinking about difference between CPAs and accountants, this might help you clear those doubts. A CPA is ‘certified’ as an accountant by clearing the official CPA exam, an authority which swears by its high standards of accounting province. An accountant doesn’t have to be a CPA to practice accounting, but a good accountant definitely leaves no stone unturned in learning by being a CPA.

What do they teach in Master’s Degree?
There are two ways you can go for a Master’s Degree in accounting:
- Master’s in Accounting
- MBA in Accounting

These two phrases are often used simultaneously, but there is a big deal of difference in getting a master’s degree in accounting and going for an MBA in accounting. Let’s have a look at them in detail:

Master’s in Accounting
If you plan to learn about accounting from a super-detailed perspective, you should go for Master’s in Accounting. A master’s in accounting works like a charm if you are interested in going for CPA in later stages. This course provides a very valuable accounts-centric insight into things. This is heavy stuff for dedicated accountants and they should give it a try.

MBA in Accounting
Our perspective was very much accountant-knowledge centric before, but in case of a MBA in accounting, it develops an enlightening business acumen in every accountant. Not only do students learn accounting concepts, they learn man-management skills which are essential for their overall growth.

List of Jobs for Accountants
If you are wondering “why should I get a master’s degree in accounting if I can practice right now”, here are some jobs waiting for your resume in case you get yourself a master’s degree:
- Management Accountant
- Government Accountant
- Internal Auditor
- External Auditor
- IT Auditor

Also, there is a huge scope of becoming a CPA after you are done with your Master’s Degree in accounting. So if you are wondering whether accounting is the way to go in terms of a career choice, now is the time to pounce on that opportunity. An accountant earns a median income of $80,000 approx. Now’s your time to do the same!