If you are considering earning your online Master’s degree in Accounting, you may be faced with a choice to make first. “What might that be?” Well, there are two types of master’s degree programs within the subject of accounting. Depending on your interest and desired outcome, you may want to choose a Master’s of Accounting degree program or a Master of Business Administration (MBA) degree program with an emphasis in accounting. Your next question might be, “What’s the difference?”
To begin, either degree program is an excellent choice, no doubt. However, you may wish to enroll in a program that specifically fits your needs. And, speaking of specifics, your online Master’s of Accounting degree program will focus primarily on accounting practices and less on general business practices. This degree is related to the Master of Accountancy, Master of Science in Accounting and the Master of Professional Accountancy degree.
A Master of Accounting program will generally take you about two years to complete. Your program will often emphasize specific areas of accounting. With a Master’s of Accounting degree, you will also qualify to sit for the Certified Public Accountant, Certified Fraud Examiner or the Certified Management Accountant examinations.
Typically, if you enroll in an online Master’s of Accounting program, your degree and your future certifications will allow you a career with numerous opportunities, excellent salary and benefits, as well as, job security.
The Master of Business Administration, or MBA, degree program will generally take between two to three years to complete. While both degree programs are focused on accounting, the MBA program specializes in management and leaderships skills, which will prepare you for a top-level management career within the field of accounting.
Within an MBA program, internships are typically required, as well as, a capstone project. Its focus is to teach the student all facets of business, rather than one aspect of it. Both MBA and Master’s of Accounting degree programs are available through an online distance learning format, however, the MBA program could possibly require some on-campus visits occasionally.
The holder of a Master’s of Business Administration degree with a focus on accounting has a choice of a wide array of job opportunities to choose from. Today’s economy requires that employers hire personnel that are often flexible and willing to do all types of jobs within the company, not just one. And, perhaps you are not sure exactly what your future holds, what you would like to pursue or if your interest and passion may take you down another career path later. If so, the MBA is the degree for you! It will allow you to perform many duties for a company.
In addition, you may be asked to further decide on a specialization. If so, you may need to consider a choice between management accounting, public accounting, government accounting or internal auditing. Choose a degree program that will help you the most in your designated specialty or career choice. For example, the MBA degree program is great for those interested in management accounting and a Master’s of Accounting degree is needed as a CPA.
If you are interested in this field, please see our choices for the Top 15 Online Schools for Master’s in Management Accounting.