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Accounting is more than crunching numbers and looking for a clear bottom line. As the business landscape grows more complex鈥攁nd global鈥攑roviding accounting services for individuals and companies often requires analyzing data and communicating insightful conclusions.听

Earning your Master of Science in Accounting (MSA) degree may be a lucrative step forward in your accounting career. While many entry-level accounting roles require a bachelor鈥檚 degree, you may qualify for more advanced roles and higher salaries with a 尘补蝉迟别谤鈥檚 degree.听

In this article, we鈥檒l go over the key facts you should know about the MSA degree, jobs you may be able to get with one, and other finance-related graduate degree options you may want to consider.听聽

MSA degree: Key facts聽

Even though an MSA program is typically offered by a college or university鈥檚 business school, the degree tends to cost less and take less time than the more popular Master of Business Administration (MBA). Most MBAs require students to concentrate in an area of business, and there are relevant options, such as accounting, finance, and economics.听

There are significant differences between the MSA and MBA. In terms of education:聽

• MSA program: You will likely only take accounting and finance-related courses.听

• MBA program: You will first learn about business more broadly before taking specific courses in your concentration.

Coursework

A 尘补蝉迟别谤鈥檚 degree in accounting is meant to deepen your knowledge of the major financial areas involved in corporate and individual accounting, including taxation, financial planning, reporting, and ethics.听

The classes you may encounter during your MSA degree program include:聽

• Accounting ethics聽

• Information systems聽

• Advanced managerial accounting

• 础耻诲颈迟颈苍驳听

• Financial accounting and research methodologies聽

• Financial institutions聽

• Accounting theory聽

• Financial reporting

• Forensic accounting

• Individual taxation

• Business tax planning聽

Some programs offer you the option of concentrating in an area of accounting, such as data analytics or financial services reporting. Depending on your career goals and interests, you may want to spend time researching relevant programs to get the most out of your time in graduate school.

MSA degree: Time and price

An MSA degree often takes fewer credits to complete than an MBA and can be done in a year when you鈥檙e able to attend full-time. If you need to attend part-time while working on your degree, you may find that it takes two or more years to finish, depending on how many courses you can complete each semester. An MBA, on the other hand, typically takes two years when you鈥檙e able to attend full-time, though there are accelerated and part-time options for students who want to speed up or pace their learning.听

A 尘补蝉迟别谤鈥檚 degree costs between $44,640 and $71,140 on average, but the total amount typically depends on where you go to school and the length of your program []. As a one-year 尘补蝉迟别谤鈥檚 degree, the MSA may be a more affordable option than attending an MBA program. While the cost of attending business school to earn your MBA varies by institution, the average total cost among the top 27 business schools in the United States is $215,619, according to Poets&Quants [].

Admissions criteria

Applying to an MSA program often requires first having earned your bachelor鈥檚 degree and completing some financial coursework as part of your course of study. However, some 尘补蝉迟别谤鈥檚 programs will let you complete core financial and accounting curriculum to get the foundation you need to embark on more advanced coursework.听

If you鈥檙e weighing the differences between an MSA and MBA, applying to an MBA program often requires having your bachelor鈥檚 degree and some professional experience, typically between four to five years in the workforce.听

What can you do with an MSA degree?聽

The field of accounting remains important to businesses across numerous industries. Accounting jobs are poised to grow by 6 percent between 2023 and 2033, according to the US Bureau of Labor Statistics (BLS) [].

While many accountant roles do not require a 尘补蝉迟别谤鈥檚 degree, you may find that you qualify for more senior roles and higher salaries with your MSA degree. If you are interested in managerial positions or even executive roles, such as chief financial officer (CFO), you may be able to achieve your goal with a 尘补蝉迟别谤鈥檚 in accounting.听

Is an MSA a good degree?

Yes, an MSA is a good degree to prepare you for a career in accounting. According to the BLS, globalization and a growing economy will increase the demand for accountants. As a result, the BLS projects an average of 130,800 job openings for accountants and auditors through 2033 []. When you earn an MSA, you鈥檒l develop your knowledge of advanced accounting principles, helping to prepare you for these roles.听

Let鈥檚 review some of the jobs you can explore with an MSA degree:聽聽

Alternatives to the MSA degree

You may want to consider two other degrees when you are interested in studying accounting or finance at the graduate level. Let鈥檚 go over each one briefly:聽

Master of Science in Finance: This degree focuses on finance, with classes in accounting and economics. It emphasizes coursework in investing, financial modeling, analysis, portfolio theory, and capital markets. Students may go into corporate finance or investment banking after graduation.

Master of Business Administration (MBA): This degree focuses broadly on business, with an emphasis on leadership and management. Students will also likely have the option of concentrating on a financial subset of business, such as finance, accounting, or economics.

While an MBA can be more expensive and time-consuming than an MS degree, the outlook remains promising. Recruiters expected some growth in business master's degree hiring in 2024, according to the Graduate Management Admission Council (GMAC) []. Moreover, the median MBA salary is estimated to be $120,000, compared to $69,320 for bachelor鈥檚 degree holders []. Master鈥檚 degree holders, on the other hand, make a median weekly salary of $1,737, according to BLS [闭.听

Is an MSA degree right for you?聽

When you鈥檙e interested in studying accounting, you typically have a choice between earning your MSA degree or your MBA degree with a concentration in accounting. If you鈥檙e torn between the two options, think about your reasons for embarking on graduate education in the first place. Why do you want to earn your 尘补蝉迟别谤鈥檚? What would you like to do with the degree? Answering those two questions can help narrow your options.听

We鈥檝e also broken down the two degrees by focus, entry requirements, and resources. Use the questions below to think about which degree path might make more sense in light of your resources, needs, and larger goals.听

MSA degree:聽

• Would you like to focus exclusively on accounting and related financial subjects?聽

• Have you taken some accounting or finance-related courses as an undergrad?聽

• Do you have at least one year to dedicate to your graduate education?

• What kinds of financial resources do you have to pay for your degree?

MBA degree:

• Would you benefit from a broader business education beyond focusing on accounting?

• Have you spent several years gaining professional experience?聽

• Do you have at least two years to dedicate to your graduate education?

• What kinds of financial resources do you have to pay for your degree?

Many graduate programs have advisors available to speak with prospective students. As you research your options, you may want to take advantage of those resources to decide which is the best course of action for you.听

Explore the MSA degree further on 糖心vlog官网观看

If you鈥檙e ready to explore an advanced accounting education, consider the iMSA from the University of Illinois Gies College of Business. It鈥檚 a competitively ranked program offered entirely online, so you can enjoy greater flexibility when it comes to finishing your degree.