We compared 15 public and private non-profit colleges and universities in the US that are regarded as the top value schools for online accounting masters degrees to come up with this ranking.
We used a points system in our technique that was based on specific standards. Schools that helped students prepare for professional certifications like the CPA license were given points. Schools offering PhD programs in closely related accounting and business subjects also received points. Institutions that were ranked in the U.S. received points. Best Colleges 2022 from News and World Report. In a tie, we rated the school higher on our ranking if its graduate tuition and fees were lower.
What is Accounting?
The process of reporting and disseminating financial data on a person or an organization is referred to as accounting.
Accounting, to put it simply, is the process through which a company keeps track of its financial data. The goal of accounting professionals—or anybody else charged with accounting duties—is to take a moment in time picture of an organization’s financial health.
Typical accounting procedures include the following:
- Keeping transaction records
- The gathering of financial data
- Assembling financial accounts, reports, and records
- Getting tax returns ready
- Ensuring that an organization pays its taxes and that its financial records are legal
Studying basic accounting can have many advantages, whether you’re an entrepreneur who needs to create financial records for your business, a business professional trying to better understand and participate in your organization’s financial decision-making process, or someone who wants to make sense of their own finances.
Also Read: 10 Best Free Wireframe Tools
Benefits of Studying Accounting
All company professionals ought to be proficient in financial accounting since it has been dubbed the corporate world’s common tongue.
Despite what you might believe, all professionals can benefit from having a basic understanding of financial accounting. Examples include the accounting equation and financial statements.
Here are six benefits of knowing financial accounting for professionals in general.
1. You’ll be able to more skillfully handle your own finances.
Be sincere: Can you describe where all of your money goes when it is deposited from your paycheck? You’ll understand your personal finances better and learn useful skills, like how to efficiently manage costs and stick to a budget, if you have some accounting knowledge under your belt.
2. You’ll learn more about current events
In the accounting industry, scandals are commonplace. You may have heard tales of financial documents being improperly altered for personal gain or of seemingly insignificant accounting errors having grave repercussions.
You can grasp what these corporations have done incorrectly and why it matters if you have a rudimentary understanding of accounting. Additionally, you’ll discover how current affairs in accounting and finance may affect your company and sector.
3. You’ll be able to contribute more significantly at work
Imagine being in a staff meeting where the chief financial officer (CFO) wants to review the financial results from the previous quarter. If you’ve taken accounting 101, you won’t just be able to follow the CFO’s explanations; you’ll also be able to add your own financial insights and thoughts.
With some accounting experience under your belt, you’ll be able to assess your company’s financial standing independently. You can draw insightful conclusions from this data and present suggestions for improvement to top management. In the end, having a solid grasp of your company’s finances will make you more productive in your position.
4. You’ll Be Prepared for Business Success
To succeed as an entrepreneur or business owner, you must be aware of the fundamental accounting concepts.
Controlling expenses, cash flow, invoices, vendors, and payroll is an essential part of running a business. Creating financial accounts, figuring out how successful your company is, predicting future sales, and conveying financial information to stakeholders and investors are some crucial accounting skills for business owners.
Studying accounting as a business owner might help you get one step closer to realizing your dreams of starting your own company.
5. You’ll Have the Chance to Advance Your Career
Accounting knowledge can help you enhance your career even if you are not a professional accountant. You’ll improve your efficiency in your current position and make yourself a more desirable candidate for advanced positions.
Finding a career in finance or accounting is also made possible by learning financial accounting. By 2029, employment in financial occupations is predicted to increase by 5%, faster than the average for all occupations, according to the Bureau of Labor Statistics. You will acquire the skills necessary to be qualified for such professions by studying accounting.
6. You’ll Develop Better Decision-Making Skills
Financial statements like balance sheets and income statements are used by organizations to make data-driven choices about potential investments, budgets, and resource allocation.
You can examine financial accounts to assist guide business choices and improve communication inside your organization and with its stakeholders if you study accounting. Accounting knowledge will help you make better decisions at business as well as in your personal life by teaching you to base your choices more on facts.
15 Best Online Accounting Masters Degrees in the US
- 4 points
- Graduate School Fees/Tuition: $10,235
Private Indiana Wesleyan University is situated in Marion, Indiana. The university provides a reasonably priced online master’s in accounting program. It is intended for students who want to attend a Christian university that will help them become certified professionals. U.S. publications give the school excellent marks. World Report and News. In fact, the university is ranked #12 among Best Value Schools and #30 among the Best Regional Universities in the Midwest in the 2016 edition of Best Colleges. An organizational leadership PhD is available from the university. It enables a smooth transition from the online accounting master’s degree. The business and academic programs have both regional and national accreditation.
- 4 points
- Graduate School Fees/Tuition: $10,080
The Baker College Center for Graduate Studies provides flexible options for students looking for an authorized online master’s in accounting. Students can obtain an MBA in Accounting that blends accounting knowledge with business principles. After receiving an MBA in Accounting, graduates are qualified to take the CPA exam. Both the course and the university are nationally accredited. The curriculum is in reality accredited by the International Assembly for Collegiate Business Education (IACBE). Students enroll in classes in:
- Financial accounting
- Global Accounting
- Research and Statistics
Students at Baker College are able to get the most out of their education thanks to small class sizes and 100% online alternatives.
- 5 points
- Graduate School Fees/Tuition: $9,900
A reasonably priced master’s in accounting is available online from Freed-Hardeman University. It mixes accounting concepts with an MBA program. Depending on their areas of interest, students create their own MBA degrees. The accounting focus helps graduate students prepare for careers as professional accountants or for those who choose to pursue CPA certification. In Henderson, Tennessee, there is a private university called Freed-Hardeman University. The school has a U.S. national ranking. News and World Report ranked it as the South’s 46th best regional university. The college is ranked #35 for Best Colleges for Veterans in the 2016 edition of Best Colleges by U.S. News.
- 5 points
- Graduate School Fees/Tuition: $9,720
Due to its affordable tuition and adaptable degree program, Bellevue University in Bellevue, Nebraska, is a top choice on our list of online master’s in accounting programs. The Higher Learning Commission has accredited it. Online cost-effective Master of Science in Accounting programs are available from Bellevue University. Students are given the necessary training through the program in order to be eligible to take the professional CPA certification exam. Numerous Bellevue graduate online programs are rated with U.S. World Report and News. In fact, out of more than 1,200 comparable schools, the online graduate business program (excluding the MBA) is ranked #78.
- 5 points
- Graduate School Fees/Tuition: $9,710
Liberty University offers a master’s in accounting online that is incredibly inexpensive. An affordable and demanding Master of Science in Accounting is available to students. In reality, the program’s rigorousness equips students with the skills necessary for professional certification and advanced positions in accounting. America claims. Liberty University is ranked as the 80th Best Regional University in the South in News and World Report’s 2016 edition of Best Colleges. The university’s graduate online programs are among the best offered by comparable schools. The online graduate business school, which offers an accounting degree program, is ranked #61 out of more than 1,200 programs in the 2016 Best Colleges guide.
- 5 points
- Graduate School Fees/Tuition: $9,615
A reasonably priced online master’s program in accounting is available from Cleveland State University. It is strict and cost-effective. Students may pursue a Master of Accountancy degree for less than $10,000 annually. Participants are prepared for higher careers and professional certification. Only 165 similar programs worldwide, including Cleveland State’s Master of Accountancy degree, have received the AACSB International Accounting Accreditation seal.
Additionally, the institution provides Bridge Programs, which let students achieve several degrees without needing to take additional time to do so. Students can enroll in the Bridge Program and simultaneously acquire an MBA and an MS in Accounting. Students enrolling in any of the graduate business degree programs, including Accounting, are also eligible to pursue a PhD degree in Business Administration.
- 6 points
- $9,360 Graduate tuition and fees
Our list includes Southwestern College in Winfield, Kansas because of its cost-effective online master’s in accounting programs. A graduate certificate in Executive Accounting or an MBA with an emphasis on accounting are options for students. Students who choose any degree program are prepared for professional certification as CPAs or in other areas of professional accounting. According to U.S. News & World Report, Southwestern College is the 99th-best regional university in the Midwest. Best Colleges for 2016 according to News and World Report. In fact, the school’s online graduate business program, which offers a focus in accounting, is ranked #77 out of 1,200 programs of a comparable nature.
- 6 points
- Graduate School Fees/Tuition: $9,120
At Brescia University, students looking for affordable online master’s degree programs in accounting have access to a variety of possibilities. The institution provides a Master of Science in Management with an Accounting Certificate. The distinctive program mix appeals to students who are interested in accounting but want to advance in the business world. Brescia provides competitive scholarship and financial aid packages together with affordable graduate tuition rates. According to U.S., the University has a high ranking among institutions with comparable curricula. World Report and News. Brescia is ranked as the South’s 50th Best Regional College in the 2016 edition of Best Colleges.
- 8 points
- Fees for Graduate School: $8,996
An economical online master’s in accounting program in business administration is available from Brenau University. A degree in MBA in Accounting is awarded to graduates. Brenau University provides affordable tuition costs and alluring financial aid options. While obtaining a master’s degree, the University’s MBA in Accounting program assists students in getting ready to take the CPA exam. Additionally, the curriculum aids in preparing individuals who wish to pursue doctoral degrees. The university’s MBA program offers a smooth transition into a doctoral program. To help online students with their educational and career aspirations, faculty work closely with them. The 61st Best Regional University in the South is Brenau.
- 8 points
- Graduate School Fees/Tuition: $8,514
A master’s degree in accounting that combines financial management and accounting is available online from University of Maryland at University College and is accredited and reasonably priced. A Master of Science in Accounting and Financial Management is awarded upon program completion. The lower tuition rate is available to in-state students. The graduate tuition for out-of-state students is very affordable. Graduate students can use the curriculum to get ready for professional certification tests like the CPA certification. Students who desire to obtain professional certification and operate as managers in the following fields should enroll in the program:
- 8 points
- Graduate School Fees/Tuition: $8,442
Affordable online master’s degree programs in accounting are available from Saint Leo University, helping students get ready to pass the CPA and CMA exams. The Master of Accounting program’s graduates receive the 150 hours needed for licensure. They acquire in-depth knowledge of accounting and business administration. Students can choose to earn an MBA with an Accounting Concentration or a Masters in Accounting. Students are also prepared for doctoral degree pursuits through the program. U.S. According to the 2016 edition of Best Colleges, News and World Report ranks Saint Leo University as the 71st Best Regional University in the South.
- 9 points
- Graduate School Fees/Tuition: $7,551
Southern Utah University is a good choice for students looking for the greatest value on online master’s degree in accounting programs. Online courses for the Master of Accountancy degree are flexible and self-paced. The degree program is intended to fulfill Utah’s 150-hour prerequisite for the Certified Public Accounting exam. A special bridge program that enables students to acquire a joint MBA and Master’s in Accounting degree is also offered by the school, along with assistantships. According to U.S. News and World Report, Southern Utah University is among the Best Colleges. World Report and News. The organization came in at number 70 among Western Regional Universities.
- 10 points
- Graduate School Fees/Tuition: $7,090
Online accounting master’s degrees are very reasonably priced and are offered by the University of Alabama at Birmingham. It aids students in becoming qualified to sit for the CPA certification test. On our list of the Best Deals, The University of Alabama is a great choice thanks to:
- 365-day internships
- Significant financial assistance
- Choices for a rapid degree completion
For graduate students, in-state tuition is very competitive. U.S. publications also give the University good marks. World Report and News. In actuality, University of Alabama is ranked 149th in the nation for Best National Universities. The graduate business programs of the school, which also include the accounting department, are well regarded.
- 11 points
- Graduate School Fees/Tuition: $6,657
One of the nation’s most affordable online master’s degrees in accounting is available from Florida Atlantic University for just $6,657 a year. For students with busy schedules who nevertheless desire to pursue a masters degree in business or accounting, Florida Atlantic offers online flexibility. After completing the program, candidates will be eligible to sit for professional certification examinations like the CPA or CMA and get a Master of Accounting. America claims. The institution’s online graduate business programs, excluding the MBA, are ranked #41 out of more than 1,200 comparable programs in News and World Report’s 2016 edition of Best Colleges.
- 12 points
- Graduate School Fees/Tuition: $5,670
Due to program preparation and pricing, Kennesaw State University takes the top rank among the best value online accounting master’s degrees. Students can study for eligibility for professional certification exams, such as the CPA certification, through the online Master of Accounting degree program. Among the top regional universities in the South, the institution is ranked. America claims. According to News and World Report, Kennesaw is ranked #32 among top public schools and #71 among the best regional universities in the South. In the 2016 edition of Best Colleges, the University is ranked as the 6th Most Innovative School in the nation.
Frequently Asked Questions
Is a master’s in accounting worthwhile?
According to the U.S. Bureau of Labor Statistics, the median annual salary for accountants and auditors in 2021 was $77,250. According to Payscale, candidates with a master's degree in accounting (MAcc) often receive better pay, with an average projected income of $78,000 and senior posts exceeding $100,000.
Are MBAs and Masters in Accounting equivalent?
An MBA provides the same training for a range of disciplines depending on a student's chosen emphasis, but a master's degree in accounting is intended to prepare students for a higher-level or management role in accounting.
How long does a master’s degree in accounting take?
Programs for a master's in accounting often run one or two years. In either scenario, students must finish 30 to 36 credits (or semester hours) to be eligible for a degree.
- 10 Best Free Wireframe Tools
- 10 Accredited Online Colleges in Alabama
- 5 Lucrative Careers in Organizational Leadership
- Top 10 Accredited Online Colleges in Georgia
- Top Online Masters in Public Health
- 10 Online MBA Programs In California
- 10 Cheapest Online JD Degree Programs
- What is Version Control and why do Software Engineers use it?