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Your Guidebook to Masters in Accounting'2025!
Introduction
Say, you are running a company. A company has to deal with lots of data and work with clients. Depending on your business, you will need to record, process, clean, and summarize your data. The person involved must report financial transactions to oversight agencies, regulators and the IRS.
Sounds Interesting?
This is what Accounting is all about. Accountants are responsible for keeping financial records, balancing accounts, and processing information of entities, corporations, and businesses. If this career path excites you, hop in for today's blog!
Who should consider a Masters in Accounting?
If you are interested in handling finances for big-shot companies, working with corporations like JP Morgan or Goldman Sachs, a master's in accounting is worth the investment.
A Masters in Accounting is a postgraduate degree designed to deepen your understanding of accounting principles, tax regulations, and auditing standards. It typically takes 1-2 years to complete, depending on the program structure and whether it's full-time or part-time.
To study Masters in Accounting in top universities, you need the following documents:
- Eligibility qualifications: An undergraduate degree preferably in Accounting or a relative quantitative subject like commerce, computing, business studies, economics, engineering and finance. Keep your transcripts of grades ready to submit in the application.
- GRE/GMAT: Some universities prefer a GRE or GMAT score to evaluate your quantitative and verbal aptitude and competence to pursue the masters. Though, it is not a necessity for all.
- CV: A well-structured CV is vital to showcase your skills and talents and make you a potential candidate.
- Statement of Purpose: A well-crafted SOP or Cover Letter can be a potential document to showcase your achievements and leadership skills. You can use it to portray your accomplishments even beyond academics. For more help in crafting the scholarship-winning essays and motivation letters, click here.
- Letters of Recommendation is another document of testimonials where your professors or supervisors highlight your potential and strength and the diligence you show to your work. You must contact a few academic and professional supervisors beforehand who can provide such documents when asked by the admissions office.
- English proficiency exams like IELTS/ TOEFL are important for candidates from non-English speaking countries.
Some universities ask for other documents as well like a letter of intent or research proposals which are university specific. Be well prepared with all documents when you start your application.
The Future of Accounting Masters
The accounting profession is undergoing a significant transformation in 2024, driven by automation, data analytics, and a growing emphasis on strategic decision-making. While a bachelor's degree remains the baseline qualification for most accounting jobs, a Master's in Accounting can equip you with the advanced skills and knowledge to thrive in this evolving landscape beyond 2024.
1 Core Curriculum: Typically a masters in accounting encompasses fundamentals of analytics and financial understanding. Below is the list of courses universities generally follow for a master's in accounting degree. The nomenclature and number of subjects may vary but they are typically:
- Tax
- Auditing
- Advanced Accounting
- Business Communications
- Analytics
- Accounting Ethics
- Financial Accounting
- Forensic Accounting
- Information Systems
- Data Analytics for Accountants
- Finance
- Management Accounting
- Financial; Reporting
- Curriculum skills
2. Electives or specializations are university-specific. For example, LSE provides a range of electives related to topics like financial disclosure, investor relations, mergers and acquisitions,management accounting, etc. Whereas technical courses like Advanced excel, VBA and Power BI are offered by HEC Paris. The courses vary from university to university.
3. Internships - Several universities design their curriculum in a way which allows students to do an internship to gain industry experience.
Skills
Here is the list of skills you are taught to master by the end of your master's in accounting program,
- Advanced Financial Accounting
- Tax Accounting
- Auditing
- Assurance
- Data Analytics
- Cost Accounting
- Management Accounting
- Effective communication
- Professional Judgement and Ethics
- Forensic Accounting
- International Accounting
- Accounting Technology and Automation
And many more. Please keep in mind that this list is non-exhaustive and skills depend on specializations or additional tracks as well.
What are the typical jobs after MiM?
- Financial Analysis
- Strategy & Consulting
- Private Equity (PE) Analysis
- Digital Marketing
- Project Management
- Business Development
- Operations and Supply Chain
- Impact Investing
- Business Analytics
- Financial Controlling
- Product Management
Top schools to study Masters in Accounting
With the burst of technological advancements and businesses collecting a huge amount of data, business entities are hiring people equipped with the necessary skills to audit and understand financial records. These skill sets have an array of future jobs discussed later in the blog. Here we have curated a list of the best masters in accounting programs you could apply to this 2024.
UNIVERSITY | COURSE NAME | LOCATION | DURATION |
London School of Economics | Master of Science In Accounting and Finance | London, UK | 9 months |
New York University | Master of Science in Accounting | Stern NY, USA | 1 year |
Columbia University | Master of Science in Accounting & Fundamental Analysis | New York, USA | 12-18 months |
National University of Singapore | Master of Science in Accounting | Kent Ridge, Singapore | 12 months |
University of Toronto | Master of Accounting and Finance | Scarborough, Canada | 16 months |
Bocconi University | Master of Science in Accounting, Financial Management and Control | Milan, Italy | 2 years |
HEC Paris | Master in Accounting, Finance, and Management | Jouy-en-Josas, France | 2 years |
Imperial College London | Master of Science in Finance and Accounting | London, UK | 1 year |
UNSW | Master of Professional Accounting | Sydney, Australia | 1.7 years |
University of Manchester | Masters in Accounting | Manchester, UK | 1 year |
Alternatives
Due to the current interdisciplinary nature of the market there are several masters programs in accounting and another related specialization of taxation, financial economics, finance,etc. These courses may help you stand out from the crowd and make you a better candidate for future job openings. Here is a list of courses you can consider alternatively to your Masters in Accounting.
UNIVERSITY | COURSE NAME | LOCATION | DURATION |
Nanyang Technological University (NTU) | Master of Science in Accountancy | Nanyang Avenue, Singapore | 1 year |
University of Oxford | Master of Science in Financial Economics | Oxford, UK | 9 months |
University of Oxford | Master of Science in Taxation | Oxford, UK | 2 years (part-time) |
London School of Economics (LSE) | MSc Accounting, Organizations and Institutions | London, UK | 10 months |
Accounting careers after masters
A top-tier accounting degree will lead to these job roles once you graduate in 2024
- Corporate Controller
- Financial Controller
- Accounting manager
- Financial Analyst
- Auditor
- Tax accountant
- Finance Manager
- Management Consultant
- Economist
- Data Analyst
Recently cyber financial fraud has increased at an alarming rate. A master's in accounting and finance can help you hone the skills to investigate financial fraud, misconduct, and irregularities. This is another lucrative career option post a masters in accounting degree in 2024..
Is a master's in Accounting worth it?
According to the US Bureau of Labour Statistics, Accountants are paid a median salary of $79,880 annually with an outlook of 4% increase. So it is evident how crucial accountants are for a company and the generous salary marking the prospects. So yes, a master's in accounting is worth it.
Not to forget, the worth of it also depends on your fondness for this subject.
If you enjoy analyzing financial transactions and helping companies make profitable business or if you like playing with numbers and have the aptitude to help the business run smoothly, then a master's in accounting is worth the investment for you.
The search for your perfect Masters in accounting program might be quite daunting and we can relate. We at EdYOU Abroad have helped countless students get their dream university admits and you can be next. Click here and let's write your next scholarship-winning story today!
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