When you decide you want to pursue an advanced degree in addition to your Bachelor's degree in accounting, business or finance, the next logical step is usually an MBA. There are many accountants who go on to get this degree. With it they only need one year of work experience to become eligible to write the CPA exam. This advanced degree is considered to be the highest credentials you can have in the accounting world and opens the door to multiple employment opportunities.
With an MBA degree, you can have an offer for a managerial position before you even finish your degree program. New accounting regulations have increased the demands on professionals with an MBA in accounting because the coursework for this degree equips them with specialized knowledge and skills. By specializing in the accounting industry, you have a greater understanding of the process of developing budgets for organizations and large corporations and how best to monitor these budgets and the controls. You will have more knowledge of auditing, which will open the doors to becoming an internal or external auditor in a management position.
Some of the other accounting areas in which you will gain greater skill to apply the concepts of the courses to actual casework is in financial reporting and documentation. Many employers like to hire those with an MBA degree to help reduce the possibilities of fraud in the accounting procedures, this preventing them from having to call in independent auditors to do the work. Thus you strengthen your ability to perform well in senior level positions in the government or the private sectors of the industry.
It only takes two years to complete an MBA program in accounting and you can work either full time or part time as you pursue your studies. There are many universities that offer this program online, which makes taking the courses easy from wherever you are located. Also, you do not need to have a CPA certificate in order to be accepted into the program and this advanced degree is accepted in all states. You can also obtain this advanced degree in accounting if your undergraduate degree was in another area of specialty. If you wish you can even combine your degree with a Master of Accounting degree to give you more credibility in the job market.
If you aspire to management positions in the accounting industry, you can obtain a position as an accountant and work your way up the corporate ladder. When you obtain your MBA degree, the rise to the higher-ranks will be much easier. Even if your supervisors know that you are in the process of pursuing this degree, you will receive more promotions and have more challenging work assigned to you to help you gain the experience you need. You do need to meet the admission requirements of the Master’s level program, which is usually a B average in the major coursework of your undergraduate degree. You also need to check the university you choose to ensure that it is accredited by the state.