Earning a Master of Science in Accountancy

A Master of Science in Accountancy is a degree program for accounting or business students who would like to meet the requirements for the Uniform Certified Public Accountant (CPA) Examination or for those who are just interested in becoming knowledgeable and qualified in the field.

How to Start a Master of Science in Accountancy

A Master of Accountancy is a 30 credit-hour program. To enroll, students must meet the admission requirements of the school to which they are applying. The student will need to have basic accounting skills, knowledge of business law and management and skills in finance.
 
The student will also need to have completed any courses that the school requires beforehand. These vary from school to school. Next, the Department of Accounting Admissions Committee will look over the student’s past grades, his scores on the Graduate Management Admission Test, his leadership skills and other submitted criteria.

Types of Master's Programs for Accountancy

All students who are attempting to get a master's degree in accountancy are required to complete the course in five years. Most students finish the program within a year, however. Many schools offer flexible plans to accommodate working students. Below is an overview of various program options:
  • Accelerated: An accelerated program offers students a bigger course load within a shorter period of time. While these programs can be a bit rushed, they allow students to earn their Master's in Accountancy much faster than other programs.

  • Internet: Some schools offer Master of Science in Accountancy programs over the Internet. Enrolling in online master of accountancy programs is ideal for those trying to still work or take care of families while earning their degree.
  • Part-time: Part-time programs have night and/or weekend classes so that students with full-time jobs or families can fit courses into their schedules. While the part-time program will usually take longer than two years to complete, it is a good option for people with busy lives.

  • Two-Year: Two-year programs are the most standard programs available, with breaks during the summer and fall. These programs are usually taken by full-time students who live on campus or with their parents. A two-year program is not recommended for people who have full-time jobs or a busy home life.

Cost of a Master's Degree in Accountancy

A typical Master of Science in Accountancy degree can cost around $40,000, including tuition and book fees. However, keep in mind that this price will vary depending on what school the student attends. Although there are some more affordable programs out there, students should be wary of programs touting unusually low fees. Look for schools that are accredited and have a proven track record to get the most out of your education.

Jobs for Master in Accountancy Graduate

With a master of accountancy, jobs in high finance and the banking industry are within your reach. While some with a master in accountancy chose to work as auditors, others may prefer to be accountant managers for either public or private firms.
 
Although a master of accountancy salary will typically be higher in the corporate (rather than government) arena, keep in mind that starting salaries for those with a master of accountancy will usually be between $44,000 to $48,000. On average, a master of accountancy salary ranges between $75,000 and $115, 000.

Resources

Ball State University, (2008). Master of Science in Accounting. Retrieved March 26, 2008, from the Ball State University Web site: http://www.bsu.edu/cob/article/0,1370,10701-2579-3996,00.html.

College of Business (2008). Master of Science in Accountancy. Retrieved March 26, 2008, from the University of Illinois at Urbana-Champaign Web site: http://www.business.uiuc.edu
/accountancy/programs/msa/.