Some individuals are simply not convinced that getting a Masters in Accounting degree will have any real effect on their careers. After all, having a Masters degree isn't really necessary to work in an accounting role, most professionals begin their careers without it, and then wonder if they should get a Masters degree? The answer to this question is a resounding no for those who wish to advance further in the accounting or finance fields.
It may be of interest to you to know that there are actually three Masters Degrees in Business Administration; the Masters Degree in Accountancy (MBA), the Masters Degree in Finance and Business Management (MGMB) and the Master Degree in Management Information Systems (MMS). The reason that these MBA's are the most popular is that they are designed specifically to prepare individuals for a position in business-to-business administration. There are several differences between these different degrees, and these differences can have a major impact on your ability to find employment in your chosen field.
You will find that in order to take an exam to become a Certified Public Accountant (CPA), you must first complete a two-year Bachelor's program at an accredited university or college, along with an exam, which is called the CPA exam. This exam is the only step in the process that must be completed by an individual, as the actual Bachelor's program and exam do not require an individual to be certified.
The second step in the process is becoming a licensed Professional Accountant (CPA). To become a certified Public Accountant, you must earn a Bachelors of Science in Accountancy from an accredited institution and pass the CPA exam. Once you pass this exam, you will have your CPA license and become eligible to apply to the American Society of Accountants (ASA) for certification. To become a Certified Financial Analyst (CFA), you must also pass both of these exams, and must also be employed as a CPA in order to achieve this designation.
The third and final step in this process is earning the Masters Degree in Business Administration. Although the CPA and CFA degrees are similar, the Masters degree is much more specific and comprehensive. In fact, all three degree programs will prepare individuals to work in a variety of different areas of business management, including planning and financial, human resource, accounting, and managerial finance, as well as management in one specific area such as corporate finance. This is the most difficult degree to earn and is most often only granted by institutions such as the University of Chicago, Loyola of Los Angeles or Boston College.
When choosing whether to get your Masters Degree in Business Administration or Masters in Business Administration (MBA) online, you may be concerned about whether you'll be able to take courses while working a job, or whether you'll have to stop work to pursue your Masters degree in business administration (MBA). The reality is that many of the courses required for this degree are offered online. If you're a stay-at-home parent, you can take classes during the day while juggling work schedules, and finish your studies during the evenings or weekends while still being able to work.