Inside 2024’s Best Online Master’s Degree Programs in Accounting

Advantages of Earning an Online Master’s in Accounting

The master’s in accounting online degree is one of the most useful graduate degrees for anyone who has an interest in accounting. Not only is it necessary to become a CPA, but it also offers flexible learning options and provides the chance to shift career fields by completing one of the many specializations available. Here are some other reasons to choose a master’s in accounting online program:

Work while in school

Most students can earn their master’s in accounting fully online, with no need to visit campus. They can also choose when to start and attend classes, thanks to programs offered in an asynchronous format. All of this makes it possible to continue working while in school.

Become a CPA

Though this varies by state requirements, for the most part a master’s in accounting isn’t required to become a CPA. However, a bachelor’s degree in accounting usually doesn’t offer the necessary academic training hours needed to take the CPA exam. Students need roughly two semesters of full-time coursework beyond the typical bachelor’s degree to become eligible to take the CPA exam.

Specialize

Most online master’s in accounting programs offer several areas of specialization. And even the ones that don’t have a robust list of electives available, giving an ample opportunity for students to tailor their education and meet their professional goals.

Advanced Accounting

One of the core classes that all students must take, Advanced Accounting covers the creation of financial and accounting statements and the reasoning behind them. Students also learn about other forms of accounting and financial statements, such as those involving foreign currency, securities, and corporate restructuring.

Income Tax II

Before enrolling in a master’s in accounting online program, most students have foundational income tax courses under their belt. In this class, students take the next step and learn about income tax concepts for corporations, sole proprietorships, estates, trusts, and partnerships.

Fraud Examination

The primary focus of this class is to look at various types of accounting fraud, including how and why it occurs. But the class also covers how accounting fraud is investigated and what happens when fraud is discovered. Students discuss why fraud occurs and steps organizations can take to prevent it.

Advanced Auditing

This course teaches students how to think like independent auditors. In addition to learning how to conduct an audit and create a report to summarize findings, students also learn about ethical guidelines and how to use technology to improve the auditing process.

Ethics for Professional Accountants

Accounting may be about numbers and rules, but gray areas still exist. This class outlines many of these gray areas to increase awareness of ethical challenges. Students also learn about the Association of International Certified Professional Accountants Professional Code of Conduct.

Forensic Accounting

Many crimes are financial in nature, with highly complex schemes. It takes special tools to examine financial and accounting documents to detect evidence of fraud and embezzlement. Earning an online master’s degree in forensic accounting teaches you these tools, as well as how to work with law enforcement to gather evidence and establish a case.

Taxation

This specialization is among the most popular, given the prevalence of tax questions and issues in financial and accounting environments. Students pursuing an online master’s degree in taxation learn about various tax codes and principles, such as individual income tax, corporate tax issues, trust and estate tax questions, and tax law.

Healthcare Management

Hospitals and other medical organizations have elaborate and complex accounting and financial operations. Online healthcare management master’s programs prepare students to work in healthcare leadership, including managing an organization’s budget and tax documents. Topics covered include the economics of healthcare businesses, healthcare accounting principles, and leadership.

Finance

Not every accounting student wants to be an accountant or auditor. Some want to learn more about accounting so they can be more effective in finance. This specialization teaches advanced accounting knowledge along with helping students take the next step in their finance education. Classes include valuation modeling, financial statement analysis, and financial management.

Public Accounting

Many students enroll in an online master’s in accounting program with the goal of becoming a CPA. To help students succeed, many schools have special curricula developed to prepare students to take and pass the CPA exam. Topics covered in this specialization include financial analytics, business consulting, and government accounting.