Accounting is a complicated field of study that requires extensive learning. A Masters in Accounting USA expands your understanding in this field and prepares you for leadership positions and specialized careers. It equips you with solid theoretical foundations and opportunities to focus on areas such as auditing, data analysis, financial reporting, and taxation. Moreover, you get to learn to manage complicated legal requirements, compliance, and risk analysis.
Top reasons to pursue Masters in Accounting USA
There are several perks you can enjoy studying for your Masters in Accounting in the USA -
Multiple career opportunities – Apart from a Certified Public Accountant role, a master’s degree in accounting offers many more options for lucrative and rewarding positions in the field. For instance, External auditor, Government accountant, IT auditor, Management accountant, Internal auditor, Chief financial officer, Tax accountant, and more. To attain these titles, one needs to have advanced knowledge of business and accounting which only a master’s program can provide.
Accounting certification – To become a certified accountant, you need to have a degree, take the CPA exam, and 30 additional credit hours beyond the 120 hours. To fulfill these requirements, you must have some graduate or extra undergraduate credits. Besides, to attend a professional examination like the CPA exam, one must have a master’s degree with a focus on accounting that would further help to achieve your goals post-graduation.
Higher return on Investment – Advanced degrees often come with high salary options. According to the Bureau of Labor Statistics, people with a master’s degree in accounting earn more than those with a bachelor’s degree. A higher salary indicates a higher return on investment on your degree.
Flexible learning options – A master’s degree in accounting offers flexible education options. For instance, you can take classes online, or use a hybrid program to learn both online and offline. This method will enable you to earn while pursuing your studies and find a career path that fits your desires.
Employer assistance – Employers in the finance industry seek CPAs on staff to offer assistance programs. Many accounting firms and financial companies offer this assistance to their employees who are looking to pursue an advanced degree. This serves as an additional training for accounting professionals.
Extended knowledge and expertise – Studying a particular subject makes you more knowledgeable in that field. Although a bachelor’s degree in accounting is a great start for an entry-level job, a master’s degree can deepen your knowledge for specific opportunities. The type of knowledge and expertise you receive depends on the program you wish to pursue. For example, an MSc Accounting in USA gives you deep and extensive expertise about accounting, while an MBA in Accounting gives you broad and expanded business knowledge. Though both degrees have their own benefits, your selection will be based on your professional goals.
Opportunity to be distinct – A Post-graduation degree provides distinction and makes you stand out from the crowd in job applications. You can not only apply for better roles but also gain the respect of many in your field. With a master’s degree in accounting, you can improve your leadership qualities, attain knowledge and expertise in important accounting principles, gain a skill set in specific accounting areas, and enhance communication, people, and presentation skills. All of this will further help in expanding your career opportunities.
Ability to take leadership roles – A Master's degree in Accounting facilitates the candidate in acquiring a higher-level management or leadership position within the organization. They can further train their subordinates with a deeper knowledge of accounting principles and how to apply them to business entities. Apart from leadership roles, they can also go for an educator’s position where they inspire the next generation of financial professionals by teaching full-time or part-time, according to their preferences.
Networking opportunities – Networking in the accounting field can be beneficial for your career. With a Masters in Accounting USA, you can connect with professors and other students, make them a part of your professional network, add them to your social accounts, and know when any new opportunities open up. Further, you will also join their alumni connections which will further expand your network.
Specialization choices – Accounting courses have many specialization options such as auditing and taxation, management, forensic accounting, etc. Hence, you can add courses that align with your area of interest within the accounting field.
Best universities to pursue Masters in Accounting USA
It is a widely known fact that the USA is home to the world’s top universities. In this section, we will list some of the best universities offering MSc accounting in USA.
- Harvard University
- Massachusetts Institute of Technology
- Stanford University
- University of Chicago
- University of Pennsylvania
- University of California, Berkeley
- New York University
- Columbia University
- Yale University
- University of California, Los Angeles
Topics covered in Masters in Accounting USA
Learning and doing are the two primary features of accounting courses. Students get to learn the history and theory behind accounting processes and create reports, tax documents, and advanced audits to upgrade their skills. Some of the topics covered in the accounting courses include the following:-
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Accounting, auditing, and assurance regulation
This course explains the details of inspecting the finances of an organization to ensure compliance and identify risk. It mainly focuses on preparing external reports and communication skills.
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Data Analytics
This topic is increasingly important for accounting students as it teaches them to have a clear understanding of statistical programs and data visualization. It focuses on using analytics tools to convert accounting information into datasets and reports for shareholders and clients.
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Advanced financial statement analysis
Advanced financial statement analysis is an invaluable aspect of the accounting world. It teaches the students how to do an in-depth study of all aspects of a statement, Generally Accepted Accounting Principles (GAAP) standards, and financial records of multi-entity business ownership.
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Business ethics and law
Understanding business ethics and law is crucial, especially in a field that involves money as a pivotal character. Being a highly regulated field, accounting professionals are expected to show preparedness and respond to different issues related to the law and ethics of accounting.
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Admission requirements
Below is the list of required supporting documents to apply for Masters in Accounting USA –
- Bachelor’s degree from an accredited college or university/Proof of equivalent training
- A minimum GPA of 3.0 on a 4.0 scale
- 18 credit hours in an area related to the applying degree
- Academic transcripts from all institutions attended
- GMAT scores
- English proficiency test scores
- Statement of Purpose
Career prospects after Masters in Accounting USA
A master's degree in accounting paves the way to careers and job roles in the world of auditing, financial planning, and digital forensics. One can consider pursuing the following career paths after completing their studies in the USA –
- Accounting manager
- Financial analysts
- Auditor
- Tax accountants
- Finance managers
Conclusion
A journey to pursue a Masters in Accounting USA can shape your future in thoughtful ways. With premium universities, comprehensive courses, and supreme networking opportunities in the USA, you can equip yourself with the skills and knowledge required to outshine the accounting industry. However, if you have extensive support and guidance from Shuraa Education counselors, you can avail these opportunities and step into a promising career with confidence and assurance of long-term growth.
Shuraa Education specializes in guiding students through the complex procedures of studying abroad. For more information, reach out to Shuraa consultants at www.shuraaeducation.com
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