Whether you want to become a professional accountant or gain new knowledge, an accounting MBA program may be just what you need. Aside from the fact that employers highly covet an MBA in Accounting, it also helps to prepare you for the CPA exam.
MBA Programs Offer A Specialization In Accounting
Obtaining a Master of Business Administration (MBA) degree with an accounting focus can provide a broad set of career options. Graduates may work in executive roles such as chief financial officer or accounting director. They can also find opportunities to serve in non-profit organizations.
Accounting plays a significant role in every aspect of society. It helps businesses to manage their revenues and expenses. It also helps banks, lenders, and investors make investment decisions. Leaders at all levels need to apply the principles of managerial and financial accounting.
The accounting MBA program is designed to give students comprehensive business management and leadership knowledge. They offer a wide range of courses that teach the best business practices. Many of these classes are tailored to particular areas of interest, such as human resources management or financial management.
Although an MBA is not the only degree available, it is an excellent choice for students looking to advance their careers. The coursework includes both business and management courses, and students can take additional courses to specialize in their chosen field.
MBA Programs Prepare You For The CPA Exam
Whether you are a college student deciding between an MBA and CPA, or a professional looking to advance your career, there are many factors to consider. For example, an MBA can prepare you for the CPA exam, but a CPA degree will help you achieve higher management positions in accounting.
In addition to preparing you for the CPA exam, an MBA can also enhance your business knowledge. MBA programs are designed to teach students about organizational behavior, marketing, finance, economics, and quantitative analysis. A well-rounded education is essential for career advancement.
Knowing your career objectives, interests, and abilities is helpful when choosing between an MBA and CPA. For example, an MBA may be better suited for management opportunities, while a CPA would be better suited for finance and financial controller positions.
The CPA exam requires various courses, including accounting and business law. It also includes several classes in advanced accounting and technical accounting.
Occupations To Graduates Of An Accounting MBA
Whether you are interested in the private or public sectors, an MBA in accounting can open the door to an exciting variety of career options. The Bureau of Labor Statistics projects that the employment of accountants and auditors will increase by 10 percent from 2016 to 2026.
Accounting jobs are available in several fields, including financial analysis, government, and advisory roles. While the job title may vary, all jobs involve recording and analyzing financial transactions. These individuals evaluate past and future trends in a business’s finances. They may also make recommendations to improve the company’s financial health.
Various accounting positions are available, such as tax accountant, auditor, and financial manager. The Bureau of Labor Statistics estimates that the top 10% of accounting professionals earn over $120,910.
Financial analysts analyze and assess financial data to determine the financial health of a business. They also make investment recommendations to clients. These professionals work in securities firms, insurance companies, and private businesses.
MBA Programs Prefer Applicants Without A Professional Accounting Background
Getting an MBA degree can open up a world of opportunities. You can better understand the global market, build an international network, and pursue a pivot in your career. However, you’ll need to meet a few unique admissions requirements to pursue an MBA.
Most respected MBA programs require at least two to three years of professional experience. Applicants without a professional accounting background will likely need to take prerequisite classes. They may include Federal Income Taxation, Managerial Accounting, and Introduction to Accounting.
In addition to the work experience, applicants should also have stellar GPAs and GMAT scores. Some B-schools will waive the test requirement for qualified applicants. Other schools will ask applicants to submit video essays. In some cases, interviews will be required.
Start working on your application if you’re planning to attend an MBA program. You’ll need to include a professional resume, official transcripts, and short application essays. You’ll need to pay an application fee, as well. The cost will vary depending on the school. It can be anywhere from $20-275.