Getting a master's degree in the field you plan to hold a career in has become a natural step in the college track. A master's degree in accounting is not a departure from this trend. There are two master's degrees in accounting, but both degrees offer similar benefits.
MBA
The first accounting master's degree option is a Masters of Business Administration in Accounting. This degree is commonly referred to as an MBA. This gives people the preparation needed to run their own business or take a management position in a company. It does not deal only with the accounting aspect.
MACC
The second accounting master's degree option is a Masters of Accounting. This degree is commonly referred to as an MACC. This master's degree gives people the education and preparation to become forensic accountants, tax specialists or corporate accountants.
Significance
An MBA or MACC program is designed to give students the 150 credit hours they need before taking the Certified Public Accounting exam, which must be passed before being able to practice as a licensed accountant.
Features
An MBA or MACC program provides an education focus on personal finance management, business finances, government finances and charitable finances needed to serve as an accountant in a varied field.
Benefits
People who have an MBA or MACC earn a higher income and additional benefit options than students with a bachelor's degree in accounting or business. They also can take higher management positions and have increased opportunities for promotion.
Notable Programs
Notable universities with highly ranked master's programs in accounting include the University of Texas at Austin, the University of Illinois, the University of Wisconsin, the University of Florida and Brigham Young University.
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