A master's degree in accounting can elevate earning potential and support career advancement.
Depending on the state, it also meets the credit requirements to become a certified public accountant (CPA). A CPA Journal study found that examinees with graduate accounting degrees have higher success rates on the Uniform CPA Examination.
Find the best master's in accounting programs for your goals, along with admission requirements, courses, and degree costs.
Top Graduate Accounting Programs
What to Expect From an Accounting Master's Degree
Master's in accounting programs build on undergraduate coursework and explore advanced concepts, techniques, and strategies in accounting, auditing, and financial reporting. Many also offer specific training for specialized career paths or provide rigorous preparation for the CPA exam.
Curricula usually cover about 30-36 credits, though some go up to 45 credits or more. Completion timelines depend on credit requirements, but master's accounting degrees usually require a time commitment in the range of 18-24 months. Schools may offer shorter timelines, especially if you have a relevant undergraduate educational background.
You can also reduce time requirements by transferring previous coursework toward your degree. If you've completed eligible courses at another accredited school, it may be worth it to investigate this option: It could save you time and money.
Degree, Concentration, and Format Options
The best master's in accounting programs usually lead to an MS or master of accountancy (MAcc) degree. MS programs focus more on technical accounting principles, while MAcc programs prepare you for specialized careers by building on existing knowledge foundations.
Schools sometimes award MA degrees in accounting, but MA programs are relatively rare.
Accelerated bachelor's-to-master's accounting programs are another option that may appeal to aspiring CPAs. Typically covering five academic years, these programs usually satisfy the 150-credit requirement for CPA licensure in some states while leading to both bachelor's and master's degrees.
You can also pursue a master of business administration (MBA) with an accounting concentration. Such MBA programs combine general business management training with advanced accounting coursework, preparing you for accounting-focused managerial roles.
Some master's programs in accounting offer their own unique concentrations, which provide targeted preparation for career specializations. Examples include concentrations in:
- Auditing or financial compliance
- Data and analytics
- Managerial or professional accounting
You can also specialize in taxation, but a master of taxation program may be a better option than an accounting degree.
Finally, familiarize yourself with common program formats: These include online, face-to-face, and hybrid options that blend distance and campus-based learning. Online courses may use live, real-time (synchronous) or pre-recorded (asynchronous) delivery methods. Synchronous classes offer more interactivity, while asynchronous classes maximize scheduling flexibility.
Admissions Process
Admissions requirements vary and can depend on the degree type. For instance, MS programs may recommend but not strictly require that applicants hold a bachelor's degree in accounting. However, some MAcc programs only accept students with an accounting degree.
Regardless of undergraduate degree requirements, you'll likely need coursework in accounting, business, finance, or related subjects. However, some schools have alternative pathways for students from non-accounting, non-business backgrounds. These generally offer conditional admission pending the successful completion of a preparatory course sequence.
If you have it, professional accounting experience may enhance your acceptance chances. Many schools are moving away from testing but if test requirements apply, they'll most likely include the GMAT and/or GRE.
For specific details about admissions standards and processes, always refer directly to the school offering the program.
Popular Accounting Graduate Courses
Master's accounting programs usually include core courses required of all students and electives you select from a list of options. Some curricula also have a culminating experience, such as a capstone project or exit examination.
The best master's in accounting programs cover accounting concepts and advanced professional applications. Examples of courses you may find in your curriculum include:
- Accounting Information Systems: Required in some curricula and elective in others, this course explores the computerized accounting systems enterprises use to track, store, and analyze financial data. Businesses increasingly rely on these technologies, and related expertise may improve your career potential.
- Financial Reporting: Master's accounting programs usually include one or more required courses in financial reporting. These courses provide detailed coverage of generally accepted accounting principles (GAAP) and other standard reporting and documentation practices. Globally focused programs may also cover similar systems used elsewhere in the world, such as International Financial Reporting Standards (IFRS).
- Advanced Auditing: This course covers advanced techniques for examining financial records to ensure GAAP or IFRS compliance. You may analyze attestation reports, comparing them against Statements on Standards for Attestation Engagements compliance requirements. Auditing concentrations typically require this course, while generalist programs may offer it as an elective.
- Accounting Capstone: In this culminating experience, you will complete an intensive project designed to test the synthesized accounting knowledge you gained through your program coursework. When required, capstones typically engage concepts in auditing, cost accounting, managerial accounting, taxation, and professional ethics.
How Much Do Accounting Master's Programs Cost?
According to the National Center for Education Statistics (NCES), graduate students paid an average of $20,513 in tuition and fees in 2021-22. The NCES also tracked the following average costs among various institution types with students in public schools paying the least and those in private nonprofit schools paying the most:
- Public: $12,596
- Private for-profit: $14,161
- Private nonprofit: $29,931
Many factors may influence your costs. For example, you will likely face higher tuition fees if you attend a public institution as an out-of-state student. Conversely, you could qualify for in-state rates regardless of residency if you pursue a fully online program.
Also, these figures do not account for costs related to relocation, housing, transportation, books, or course materials.
If you need financial aid, submit the Free Application for Federal Student Aid (FAFSA) to see if you qualify. Research scholarships, fellowships, grants, and work-study programs. Try to minimize your borrowing, especially at higher interest rates.
Selecting the Best Master's in Accounting Program
When choosing a master's in accounting program, it is critical to do your research. Ranked lists of the best schools can help you get started, but you must also determine if the program meets academic standards and is the right fit for you. Consider these important factors when comparing your options:
Analyze these factors alongside other considerations, like tuition costs and concentration options.