EducationMasters of accounting and financial management - Popular colleges and course details

Masters of accounting and financial management – Popular colleges and course details

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The importance of accounting cannot be overstated when it comes to running a business–from filing taxes and paying employee salaries to offering financial insights and support, companies always need qualified accountants. As a result, the field provides a higher level of job security, as compared to others, making it an attractive option for many students. A master’s degree in accounting and finance can help students excel in this space.

About the degree

A master’s program in accounting and financial management is meant to train students to take on managerial positions as specialists in fields like forensic accounting, auditing, tax accounting, assurance regulation, data analytics, statement analysis, and business ethics. Often, many students also opt for this degree to complete the educational requirements for the Uniform Certified Public Accountant (CPA) examination.

Depending on one’s enrollment status and the credits chosen, the course can take anywhere between one to three years to complete. Students are now increasingly looking for online M.Sc. degrees in accounting and finance, so they can continue to support themselves while they earn their degree.

Admission requirements

While admission requirements can vary significantly from one college to another, most universities will ask for a relevant undergraduate degree (often with a GPA of 3.0 or higher), reference letters, some work experience, and a personal essay or statement for choosing the field/course or one’s understanding of the subject. Some may also take this a step further and ask students for their scores on the General Management Admissions Test (GMAT).

Online coursework

Common courses students undertake as a part of their master’s degree in accounting and finance may include accounting analytics concepts and tools, professional accounting research, individual federal income taxation, auditing and assurance services, data-driven decisions for accounting, business ethics and law, among others. 

Popular colleges for an online master’s in accounting and finance

It’s only natural that students want to enroll in the best programs to earn their master’s degree in accounting and finance.

1. University of Massachusetts – Amherst

Accredited with the AACSB International (Association of Advanced Collegiate Schools of Business), the online M.Sc. degree offered by UMass is among the best programs to consider. It has a total requirement of 30 credits and is estimated to cost around $25,500.

2. University of Illinois Urbana-Champaign

This is another top-rated school offering an online Master’s Degree in Accounting. Students are required to complete 32 credits to graduate and pay an estimated fee of around $27,200. 

3. Arizona State University

Those interested in data analysis may particularly benefit from the online master’s program offered by Arizona State University. Upon completion, it earns students a title of Master’s of Accountancy and Data Analytics. A total of 30 credits are required as a part of the coursework, with multiple intakes throughout the year. In-state students can expect to pay $32,269 in fees, while out-of-state students are charged a little bit higher ($34,661).

4. Rutgers University – Newark and New Brunswick

Rutgers runs two online accounting master’s degrees–professional accounting and governmental accounting. This is ideal for students who have found their niche in the field. The professional course takes three batches in a year, while the government accounting course has two. Both these courses have a mandatory requirement of 30 credits. The estimated price of this degree is $37,440.

5. Bentley University

Perhaps the most expensive course in the list, the online accounting course at Bentley has an estimated cost of $70,380. It is offered as a part of the Master’s of Business Administration program, with a concentration in accounting. Students are expected to complete 36 credits to earn their degree.

6. University of North Carolina at Chapel Hill

This online master’s course is open to students from all fields of study. Three concentration programs are offered–tax, audit, or financial analysis and reporting. Enrolled students are required to complete anywhere between 36 and 48 credits to complete the course, with each credit being priced at $1,446. That being said, certain allowances for in-state students bring down the average tuition fees to $10,552, while out-of-state students can expect to pay around $28,844. The course duration is around 12-36 months. 

7. Western Governors University

Those looking for a cheaper tuition option to earn their M.Sc. in Finance and Accounting can check the Western Governors University in Salt Lake City, UT. This private university has an average tuition fee of $7,750 for graduate students. Students are expected to complete 10 competency units, with coursework covering topics such as fraud and forensic accounting, financial management, accounting research, and critical thinking. 

8. The University of West Florida

This is a public university offering a 30-credit curriculum that earns students the title of Master in Accounting. In-state students can expect to pay $385 per credit, while out-of-state students will be charged $479. Four major concentrations are offered in the curriculum–analytics, business analysis and reporting, information systems and controls, and taxation.

Scope of work

Upon completion of the degree, students from this field can explore career roles such as financial managers, financial advisors, financial and investment analysts, financial examiners, accountants and auditors, and even chief executives in the field of finance. This field is rather lucrative, with many individuals drawing around $100,000-150,000 on average. That being said, one’s income and earning potential depend largely on their experience, location, and industry knowledge.

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