Is A Master’s Degree In Accounting Worth It For Getting A Good Job?Uncategorized March 28, 2020, Comments Off
Is the master’s degree really worth it? How different are the career opportunities with a master’s in accounting compared to a bachelor’s degree? Obtaining a master’s degree in accounting requires advanced education, constant improvement, formal certification, and a firm commitment to learning much more to optimize your profession. During the process, prospective masters in accounting might ask themselves: Do I have the qualifications to earn a master’s degree in accounting? Can I have a successful career with just the college graduate or do I need to get a master’s degree in accounting? Should I dedicate myself only to work or can I study while studying? These questions are only a reflection of the desire to want to excel in your professional career.
A master’s degree in accounting will hone your analytical skills with expert training in accounting principles and cutting-edge business applications. With courses that cover everything from tax to marketing, this professional degree will prepare you to take your place alongside business decision-makers as a corporate accountant, auditor, and financial analyst or even as a public accountant.
Traditionally, the functional areas covered by the master’s degree in accounting are among the most sought-after areas of application for economists. Moreover, they are related to both industries (financial service providers and others) and functions (finance, accounting), and offer the best entry opportunities.
Generally, you have several prospects in:
- In management
- In business staff departments of larger companies
- In consultations
- In authorities and associations
There is also the option of founding a company, specifically:
- In the areas of accounting, taxes, controlling, finance and risk management
- In the field of auditing and tax advice
- With banks, insurance companies, and other financial service providers
Master In Accounting: Salary And Hiring Prospects
The Occupational Outlook Handbook of the United States Bureau of Labor Statistics (BLS) says that the average annual salary for accountants and auditors is $68,150. Top-tier accountants earned more than $ 120,000 a year. Demand for the profession is also on the rise, as the BLS predicts 10% job growth through 2026. Today, you can even go for distance learning options, such as MACC online global learning platform.
A Master In Accounting And Finance Makes You More Competitive Internationally:
A Master in Accounting and Finance makes you a more competitive professional in the international market. As a graduate accountant, you will become an essential member of any management team. Master’s studies will allow you to understand and develop the practical skills necessary to use the latest financial tools, a vital aspect for the growth of any organization. A Master’s in accounting program will teach you the parameters to carry out accounting reports at an international level, as well as business ethics and social responsibility.
With a Master in Accounting and Finance, you can have great job opportunities in various sectors since the employment rate among accountants is very high.
Curricular Design Of The Master In Accounting:
A Master’s in Accounting study program has a managerial focus, which broadens and deepens knowledge, competencies, and capacities related to accounting, auditing, management, resource control, financial aspects, investment, taxation, collection, and financing. It seeks to strengthen the training of officials and professionals of public and private institutions that has specific objectives:
- Train professionals specialized in the knowledge of accounting and financial theories.
- Provide specialized strategies and techniques in legislation, auditing, and management of public and private entities.
- Develop capacities of the highest level of specialization in the design of audit and control procedures.
- Provide specialized knowledge in the field of management and control of tax burdens and business financing.
Graduates of the Master’s in Accounting program are professionals with a comprehensive vision of financial-accounting aspects, capable of performing in managerial positions and solving complex strategic situations.
The graduate will be able to efficiently direct the planning, organization, execution, and control of the accounting and financial processes of the companies. It will have the capacity for the optimal management of budgetary control, treasury, investments, collection, and inspection. Likewise, it will be formed for the execution of audits and the development of risk and profitability profiles of companies. The Master of Accounting and Finance is more than a professional training program. It is a space for personal, academic and professional growth, in which value is added to each of the participants, considering their macro environment and future goals.
Advantages Of The Masters In Accounting Program:
Short-Term Master’s Degrees:
According to law, there is a short master’s degree available with two academic semesters, which facilitates access to a new academic degree.
Thesis Or Research Work At The End Of The Second Semester:
From the first semester of a Master’s in accounting program, candidates will be trained to develop the thesis or research work, so that at the end of the second semester, participants must carry out the preliminary support. The study plan is usually integrated with the economic reality, national development, and modernization of the infrastructure, improvement of public services and efficient management of resources for the benefit of the population.
Modern Infrastructure In Campuses:
Most schools have a quality academic infrastructure for teaching classes, which has classrooms equipped with audiovisual and computer equipment, air conditioning and Internet access.
Double Accreditation: Diploma And Master
You can even get a double accreditation. A Master’s in accounting program allows participants to obtain double accreditation after meeting the requirements:
- Diploma in the specialty, at the end of the first semester.
- Master’s degree in the specialty, at the end of the second semester.
Training In Spss Software And Excel For Investigations:
Training in the use of two of the necessary programs for the management of statistics and databases.
Accounting Studies Scope:
An accounting course prepares you for a national and international career in business. You will gain knowledge in economics that will qualify you for management positions in the areas of finance and accounting, controlling or business consulting. After completing your degree, for example, you will be able to determine the financial resources of your company and make important financing decisions.
What Course Content Can I Expect?
Depending on the chosen course, the content differs slightly. In the beginning, you usually gain basic business knowledge, which you gradually build on.
In order for you to be well acquainted with the various financial markets in your later job and to be able to carry out the bookkeeping and the annual financial statements of a company conscientiously and routinely, you may attend the following courses:
- Business law
In addition, the modules Business Mathematics, Statistics, Corporate Finance, and Risk Management can be part of your Accounting university degree. You also deal with capital and financial markets and the subject of auditing, among other things.
Whether Bachelor or Master studies – after the first semester you often have the opportunity to specialize in one direction of your choice. The focal points that come into question are, for example, risk management, corporate finance or controlling.