An MBA in accounting program is focused mainly with teaching students about finance as well as accounts. Before enrolling in a MBA in accounting program it is important to understand that there are several branches in this discipline and so it is necessary to undergo detailed study of each different aspect. It is also important to know the difference between an MBA with a concentration in accounting and a master of science in accounting. We discuss this further below.
Accounting Education and Training
A masters of business administration in bookkeeping will mean studying various subjects including those such as accounting, statistics for management, organizational behavior, cost accounting, financial analysis, human resource book-keeping, total cost management and capital budgeting.
You may want to specialize in tax bookkeeping, which is an important aspect of finance. This kind of specialization is very beneficial, as it will help to open up many more job opportunities to you. Most organizations today are in need of qualified professionals that are good at taking care of accounts and so such a course is of great use to those students that wish to embark on a book-keeping career. One of the things that they will learn is how to provide information that will help the organization take correct decisions. You could also choose to focus on areas like auditing or forensic accounting.
After completion of such a course you can look forward to a career as a manager in accounts. This position involves needing to do some work on preparation of tax statements as well as tax reporting. Today’s corporations are always looking for professionals that know and can work this kind of work in the right manner.
A masters in business administration in bookkeeping program has therefore been designed to ensure that students that graduate from the course are capable of handling all the book-keeping requirements of a company. There are several different aspects to this discipline that are going to be taught in this course and practical training will also be given to ensure that the student comes out ready and able to serve a firm or organization in the best manner possible.
MBA in Accounting vs The Master of Science in Accounting
The Masters in Business Administration (MBA) provides students with comprehensive knowledge of business theory and application. An accounting MBA would be one of the specializations, along with other specializations like finance management, marketing, or leadership. The MBA:
- Is a fairly more recognized general management credential
- Provides more breadth and covers more topics in business management
On the other hand, various master of science degrees are available in the accounting field, including accountancy in general, taxation, and public accounting. Each of these areas specialization are designed to presents students with specific theories related to the particular area of study. The Msc:
- Depending on the program may be a shorter, most direct route to meeting CPA requirements
- For entry level public accounting positions, the CPA is generally an important credential
Overall, the MBA is probably a good option for those who are looking to broaden knowledge of general business theory and application, yet at the same time adding a focus to a particular area of specialization. With the Masters in Accounting program students develop skills to become highly skilled accountants in a particular area of focus like auditing or forensics accounting. Some additional items to keep in mind:
- Both programs offer coursework that helps with CPA exam preparation
- The Msc may be a better undergraduate business majors while the MBA may be better suited for students without a previous business degree
Careers in Accounting
There are a number of openings in positions such as controller and auditor of an organization and there are plenty of openings in both private as well as public sectors and even in non-profit organizations. To perform such work, it is necessary to have a sharp mind and proper management skills, which can be learned from a course such as masters in business administration in accounting.
There is an ongoing demand for those who have completed this kind of course and at the very least graduates can expect to find employment as managers in small and medium size companies as larger firms, and they can also take up corporate positions as well. Accounting managers are much in demand as they will be in charge of the accounts section and they will be entrusted with keeping records of data.
Estimated Income and Projected Career Growth
The job outlook for students that have successfully graduated from a MBA in Accounting course is bright. At the same time, it is important to note that because of the current turmoil in the economy there will be some sort of stagnation in the salaries that a MBA in Accounting degree graduate can earn. However, the reported average MBA salary in the accounting field is currently $74,779. Certified Public Accountants (CPA) earn between $39,980 and $96,563 according to payscale.com. This means that there will not be any spectacular jumps in salaries but there will nevertheless be growth in salaries that is higher than for other industries.
Programs in Accounting
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