Students who are considering pursuing a career in accounting but cannot afford to take time away from their current jobs may look into affordable online Master’s of Accounting degrees rather than traditional on-campus programs. Many accredited business schools, colleges, and universities offer hybrid or 100 percent online accounting degrees, and students with children, family, or work obligations often find an online accounting program can be less stressful than an on-campus degree. Earning an accredited Master of Accountancy (MAcc) degree online also gives students the flexibility to schedule projects and courses around their other responsibilities.
Methodology
We developed the following ranking list with the goal of helping graduate students choose the best online master’s in accounting degree that meets their professional, personal, and academic goals. We based our rankings on information from U.S. News & World Report, each school’s website, and the National Center for Education Statistics (NCES) College Navigator database. A search for the term MAcc degree yielded 125 results, and we narrowed down these schools into the top 25 based on factors such as national rankings and the average cost of tuition as outlined below.
Average Cost of Attendance
When looking at prospective graduate schools for a master’s online in accounting, it is important to look at the quality of the program as well as the cost of tuition. As you begin to research each school and program, keep in mind that cost does not necessarily indicate the strength of a particular program. In other words, the expensive schools may not meet your academic goals, while the most affordable master’s in accounting online programs may provide a better curriculum or specialized topics that are more in line with your interests. All of the programs in our ranking come in at under $30,000 in total program tuition, and we awarded points based on the following tuition ranges.
Points:
Under $15,000: 3 points
$15,001 to $25,000: 2 points
$25,001 or more: 1 point
College Ranking
When looking at affordable, online MAcc programs, not only should students be aware of the quality and cost of a program, but it may also be helpful to determine how these colleges, universities, and degrees line up with other institutions across the country. U.S. News & World Report, a respected ranking agency, is recognized nationally for its comparisons of schools and individual programs. For the purpose of this ranking, we awarded points based on its Best Business Schools category as indicated below.
Points:
U.S. News & World Report: Best Business Schools Program Ranking:
Top 10: 5 points
Top 25: 4 points
Top 50: 3 points
Top 75: 2 points
Top 100: 1 point
Ranking Top 25 Most Affordable Online Master of Accounting Degrees
25. University of Scranton
Scranton, Pennsylvania
Points: 1
Program Website
The University of Scranton offers a top affordable online Master of Accountancy program to students with or without a background in accounting. Focusing on ethics, management, communication, and technical skills, this cheap online program prepares students to assume leadership roles in the global business environment. The 30-credit degree combines a Jesuit perspective of social responsibility with practical skills and consists of 12 credits in advanced electives, 15 credits in core courses, and a three-credit capstone course. Scranton offers graduate accounting students a discount on the Wiley CPAexcel preparation program, one of the best exam prep courses in the country, which includes a video lecture format and comprehensive analytical tools to help students track their progress.
Degree Options:
Online MAcc
Average Program Cost: $26,850
U.S. News & World Report Ranking:
N/A
24. Regis University
Denver, Colorado
Points: 1
Program Website
Regis University offers a flexible online course schedule, with start dates every eight weeks. The inexpensive MS in Accounting program requires the completion of 30 to 48 credits, depending on the student. Those with a background in accounting can complete the degree in 30 credits and eliminate the additional 18 credits of foundation courses. The affordable core curriculum includes nine credits in accounting ethics, financial communication, and interpreting accounting information. Students also take 18 credits in electives that allow them to customize their degree and pursue professional interests, with options including international accounting, advanced auditing, and management accounting. Graduate students of this low cost master’s degree program may also choose to participate in a three-credit internship to gain real-world, hands-on experience. All students are required to complete a three-credit capstone course prior to graduation that focuses on business strategy and planning.
Degree Options:
MS in Accounting
Average Program Cost: $26,550
U.S. News & World Report Ranking:
N/A
23. University of Connecticut
Storrs, Connecticut
Points: 2
Program Website
Considered one of the top public universities in the country, the University of Connecticut confers an online MS in Accounting, which was the school’s first online graduate degree. Students can expect a curriculum that combines components of UConn’s MBA inexpensive program and accounting, allowing them to develop skills in financial analysis, tax code, business management, and communication. Students have the ability to design their own program of study through the selection of eight electives as the degree requires only two core classes. Students may choose to pursue a variety of accounting topics, including advanced assurance services, global financial reporting, fraud examination, and data analytics. This affordable program is available entirely online with the exception of one four-day, mandatory campus residency in Hartford.
Degree Options:
Online Master of Science in Accounting
Average Program Cost: $25,500
U.S. News & World Report Ranking:
#79
22. Bay Path University
Longmeadow, Massachusetts
Points: 2
Program Website
Bay Path University’s 30-credit MS in Accounting low cost online degree program is open to working students interested in forensic, private, and public accounting tracks. Depending on the number of credits transferred and the starting date, students may earn their degree within eight months of full-time study. Classes start every April, May, July, September, and November, and they are delivered entirely online. Required courses include topics in nonprofit accounting, government accounting, advanced financial reporting, and advanced auditing as well as legal issues in accounting and information technology for accountants. Bay Path does not schedule classes between January and mid-April, giving working tax and accounting professionals the time they need to focus on the tax season. Students will enjoy building their career by completing classes in the interactive environment in this affordable online degree program.
Degree Options:
MS in Accounting
Average Program Cost: $24,900
U.S. News & World Report Ranking:
N/A
21. Western New England University
Springfield, Massachusetts
Points: 2
Program Website
Offered by the College of Business, Western New England University’s 30-credit online MS in Accounting degree consists of three areas: elective courses, core courses, and foundation courses. Full-time students are able to earn their degree in 10 months, while part-time evening students can finish this low cost program in 15 months. Students may choose to specialize in fraud investigation/forensic accounting, which explores techniques for offering litigation support and examining financial fraud. Students who choose not to take the optional nine-credit concentration are instead required to round out their degree through accounting electives. The curriculum teaches students advanced skills in controlling, planning, evaluation, and analysis and consists of required courses in auditing and assurance services, accounting theory and contemporary issues, managerial finance, fundamentals of corporate and partnership tax, and cost-based decision-making. This cheap master’s online program satisfies the CPA exam requirements in Connecticut and Massachusetts.
Degree Options:
Master of Science in Accounting
Average Program Cost: $24,720
U.S. News & World Report Ranking:
N/A
20. Davenport University
Grand Rapids, Michigan
Points: 2
Program Website
The 30-credit MAcc program at Davenport University offers multiple tracks and graduate-level concentrations that allow students to customize this cheap online program to meet their professional goals and interests. Students may pursue specialization areas in professional accounting, managerial accounting, internal auditing and fraud examination, and finance. Classes are delivered entirely online, and required courses cover topics such as accounting research and communication, accounting information systems, and accounting and financial analytics. Students have opportunities to practice what they have learned through simulations, presentations, internships, field projects, and case studies, developing their leadership ability as they work with others to develop effective, ethical business solutions. Graduates of this inexpensive program are prepared with the expertise to excel in several career paths and are eligible to take specific certification exams to become a CFE, CIA, CMA, or CPA.
Degree Options:
Master of Accountancy
Average Program Cost: $24,060
U.S. News & World Report Ranking:
N/A
19. Southern New Hampshire University
Manchester, New Hampshire
Points: 2
Program Website
Southern New Hampshire University offers a fully online MS in Accounting degree that is designed for financial analysts, fraud examiners, auditors, and corporate accountants. Students pursuing this affordable 36-credit degree can choose from four concentrations in taxation, management accounting, forensic accounting, and auditing in order to tailor their degree to their own interests and career goals. Taught by experienced instructors with real-world experience, courses include situational ethics in accounting, managing through communication, international accounting, corporate financial management, and financial reporting. Students can earn their degree from this cheap online program in as few as 15 months with two courses per 10-week term, and graduates are eligible to sit for the CPA exam in New Hampshire.
Degree Options:
MS in Accounting
Average Program Cost: $22,572
U.S. News & World Report Ranking:
N/A
18. University of Hartford
West Hartford, Connecticut
Points: 2
Program Website
The Barney School of Business at the University of Hartford offers a MS in Accounting and Taxation degree that is designed for students seeking careers in professional taxation or accounting. Students may choose from a track in either taxation or financial/assurance, both of which are currently offered entirely online. Students may earn their degree from this inexpensive program within seven months to five years, depending on whether they complete the program on a part- or full-time basis. Both tracks consist of three core courses in ethics, business law, and taxation. Students then complete three additional courses in the concentration, one seminar in the concentration, and three accounting or business electives to round out their degree. Graduate students of this cheap online degree program have the option of taking part or all of the spring semester off due to tax season.
Degree Options:
Master of Science in Accounting and Taxation
Average Program Cost: $20,850
U.S. News & World Report Ranking:
N/A
17. California Baptist University
Riverside, California
Points: 2
Program Website
The ACBSP-accredited MS in Accounting degree at California Baptist University explores topics such as business ethics and responsibilities for CPAs, financial accounting, business law, auditing and assurance, and taxation. Students are required to complete 30 credits of coursework, and low cost classes are offered entirely online. Depending on whether a student completes the program on a full- or part-time basis, he or she can earn this affordable one year master’s degree. Graduates are eligible to sit for the CPA exam in California, teach at a higher education institution, or seek additional professional development in accounting and accounting-related business topics.
Degree Options:
Master of Science in Accounting
Average Program Cost: $19,860
U.S. News & World Report Ranking:
N/A
16. Franklin University
Columbus, Ohio
Points: 2
Program Website
Students may pursue an online MS in Accounting from Franklin University. This 30-semester-hour low cost program is comprised of 10 hours of core courses in research, financial accounting theory, and management control processes and systems as well as 16 hours of electives. Students may choose from predetermined elective pathways in either taxation or financial operations, or they may choose any four classes to complete this requirement. Students must also complete a four-hour capstone course that consists of an accounting research seminar, and graduates can earn their degree in 17 months. Students who enroll in this quick, cheap degree program also gain access to professional organizations such as the Institute of Management Accountants and the American Institute of Certified Public Accountants.
Degree Options:
MS in Accounting
Average Program Cost: $19,770
U.S. News & World Report Ranking:
N/A
15. Liberty University
Lynchburg, Virginia
Points: 2
Program Website
Students pursuing the 30-credit-hour MS in Accounting from Liberty University can earn their degree within one year. The affordable program consists of eight-week courses and is available entirely online. Designed to prepare students with the critical skills and knowledge in business concepts for a successful accounting career, the degree contributes to the 150 hours of formal education required to sit for the CPA exam. Core areas of study in this cheap online program include accounting ethics, tax research and jurisprudence, and business law for accountants to ensure that students have a firm foundation of responsible accounting practice. Students can also choose from several specializations, including taxation, leadership, general accounting, financial services, forensic accounting, business, and audit and financial reporting.
Degree Options:
MS in Accounting
Average Program Cost: $16,950
U.S. News & World Report Ranking:
N/A
14. Saint Leo University
Saint Leo, Florida
Points: 2
Program Website
The online MBA with a concentration in accounting at Saint Leo University is designed for working professionals to gain the knowledge and skills they need to rise to the top of the accounting profession. Students complete general MBA courses in management, marketing, and managerial economics as well as accounting-specific classes that further focus the program, including topics in financial accounting information, accounting theory, advanced cost accounting, and fraud examination. Students take up to two low cost courses per eight-week term, and they can complete the required 36 credits within one to five years. Graduates of this affordable degree are prepared to play key leadership roles and use their accounting skills to solve complex problems in the business world.
Degree Options:
MBA – Accounting
Average Program Cost: $16,650
U.S. News & World Report Ranking:
N/A
13. Indiana Wesleyan University
Marion, Indiana
Points: 2
Program Website
Students in the inexpensive online MSA program at Indiana Wesleyan University learn to integrate knowledge of accounting practices and standards in performing tax preparation and advisory services, financial reporting, and forensic accounting and auditing services. The 30-credit-hour program consists of classes in taxation, financial accounting, ethics and business law, tax theory and research, and accounting information systems and control. Students are required to complete a three-credit accounting seminar in governmental and nonprofit accounting to graduate. Since IWU is affiliated with the Wesleyan Church, classes also incorporate a biblical framework and place a strong focus on Christian ethics. Classes are taught only by professors with academic credentials and professional experience, and students can earn this cheap MS in Accounting in just 18 to 26 months.
Degree Options:
MS in Accounting
Average Program Cost: $16,410
U.S. News & World Report Ranking:
N/A
12. Shorter University
Rome, Georgia
Points: 2
Program Website
Shorter University’s online Master of Accountancy is one of several fully online programs the school has developed in recent years, using convenient, flexible technology to extends its reach beyond Georgia. This cheap 31-credit program is available entirely online and is designed to provide the credit hours necessary for bachelor’s-holders to sit for the CPA exam. Students can expect to take courses in financial statement analysis, business analytics and research methods, managerial accounting, auditing and assurance services, advanced financial accounting, legal and ethical issues, and internal auditing and fraud. Developed for speed and convenience, the affordable MAcc can be completed in as few as 12 months by full-time students, but it is also flexible enough for working accounting professionals who may need additional time to complete the program.
Degree Options:
MAcc
Average Program Cost: $16,215
U.S. News & World Report Ranking:
N/A
11. Saint Joseph’s College of Maine
Standish, Maine
Points: 2
Program Website
Students pursuing the affordable MAcc from Saint Joseph’s College of Maine can choose from a traditional program or a fast-track that allows students to earn their degree quickly within one year. Applicants with a Bachelor’s in Accounting degree are required to complete just 30 graduate credits to finish the program, while those with an undergraduate degree in another discipline are required to complete 36 credits of study. Notable MAcc courses include international accounting, applied corporate financial management, advanced topics in disclosure and financial reporting, leadership and relationship management, and legal environment and business law. Students can choose from five 10-week terms scheduled each year in January, March, May, July, and October, and the program satisfies the 150-hour educational requirement for certification and licensure as a CPA. SJCME also offers CPA workshops and continuing professional education (CPE) credits for current CPAs. This cheap online master’s will move you to success in your ongoing career.
Degree Options:
Master of Accountancy
Average Program Cost: $15,420
U.S. News & World Report Ranking:
N/A
10. Rutgers University
Newark, New Jersey
Points: 3
Program Website
Ranked among the best affordable business programs in accounting, the MAcc in Governmental Accounting from Rutgers University is the first and only degree of its kind available entirely online. Designed to prepare students in the rapidly expanding field of government auditing, accounting, and financial management, the 30-credit program can be completed on a part-time basis in as quickly as 12 months. Core courses include auditing, financial management, governmental accounting and auditing, government budgeting systems, ethical issues, and the design and development of information systems. Graduates of this inexpensive master’s degree are eligible to sit for the CPA exam in New Jersey. Rutgers also confers a dual degree in which students complete both a Master of Public Administration and a Master of Accountancy in Governmental Accounting, enabling graduates to work within the context of public financial management and public administration.
Degree Options:
Master of Accountancy in Governmental Accounting (Online)
Master of Public Administration (MPA) and Master of Accountancy in Governmental Accounting (MAcc)
Average Program Cost: $28,350
U.S. News & World Report Ranking:
#58
9. Auburn University
Auburn, Alabama
Points: 3
Program Website
Auburn University’s online MAcc program is designed for working professionals and mirrors the traditional on-campus option in its coursework, faculty, and quality. Full-time students can complete the affordable program within one year, while part-time students may finish in two years. Offered by the Harbert College of Business, the 30-semester-hour low cost curriculum consists of required courses in accounting applications, federal tax research, research in accounting, and advanced auditing and assurance services. Students must complete 18 hours of electives, and the school requires distance learners to participate in a three-day, on-campus residency during the final spring semester of the program. During this time, students participate in the Auburn MAcc Leadership Summit, which is comprised of leadership workshops, business seminars, and social events.
Degree Options:
Master of Accountancy
Average Program Cost: $26,250
U.S. News & World Report Ranking:
#69
8. Colorado State University
Greenwood Village, Colorado
Points: 3
Program Website
The cheap online Master of Professional Accounting at Colorado State University is a 30-credit-hour program that includes 24 credits of required coursework and six credits of track-specific classes through which students can specialize in an area of accounting that meets their career goals or needs. Students can choose from emphasis areas in fraud investigations and forensic accounting, data analytics, taxation, auditing and assurance, and professional accounting. Core courses in each concentration area emphasize communication skills, planning, teamwork, and leadership, preparing students for leadership roles in education, nonprofit entities, government, corporations, and public accounting. In addition, students of this affordable online degree are given a discount to access and use Wiley CPAexcel’s Video Gold Medal Course in order to fully prepare for the CPA exam.
Degree Options:
Online Master of Professional Accounting
Average Program Cost: $15,000
U.S. News & World Report Ranking:
N/A
7. Clarion University
Clarion, Pennsylvania
Points: 3
Program Website
The 30-credit MS in Accounting degree at Clarion University provides students with essential financial analysis and accounting skills as well as the ability to communicate that knowledge within their place of employment. Required classes are offered in topic areas such as public accounting, business taxation tax research, operations management, auditing, database management systems, and management accounting. Coursework is designed to prepare students to pass the CPA exam, and graduates of Clarion’s online accounting degree have gone on to work for the Big Four and other CPA firms as well as with nonprofit, government, and industry organizations. Students can complete this low cost online program quickly within one year of full-time study. Graduates of this cheap online master’s will be prepared for the skills it takes for a successful career.
Degree Options:
MS Accounting
Average Program Cost: $15,000
U.S. News & World Report Ranking:
N/A
6. SUNY Polytechnic Institute
Albany, New York
Points: 3
Program Website
The MS in Accountancy at SUNY Polytechnic Institute is an affordable 33-credit-hour program comprised of 11 courses that accommodates both part- and full-time students. Students take 15 hours of accounting core classes, 15 credits of business core classes, and one elective course. Topics of study include financial accounting theory, auditing, income tax research, financial statement analysis and reporting, financial management, quantitative business analysis, and management information systems. Students may also pursue a concentration in forensic accounting. This cheap online program meets the 150-hour requirements for CPA licensure in New York.
Degree Options:
MS in Accountancy
Average Program Cost: $14,950
U.S. News & World Report Ranking:
N/A
5. Southern Utah University
Cedar City, Utah
Points: 3
Program Website
The Dixie L. Leavitt School of Business at Southern Utah University has provided a MAcc degree for more than 25 years. An AACSB-accredited program, the low cost 30-credit degree is designed to establish Utah’s 150-hour requirement for CPA licensure and includes optional concentrations in taxation, public accounting, or management. Students must complete foundation classes in managerial, financial, cost, tax, and advanced accounting as well as auditing, business law, managerial finance, and statistics. Students can also take an additional 15 credits and earn an MBA while studying for the MAcc. With nearly 100 percent placement rate, most SUU graduates who earn a MAcc degree from this inexpensive program are employed by government agencies or accounting firms in Utah, California, and Nevada in positions in controllership, auditing, and taxation.
Degree Options:
MAcc
Average Program Cost: $13,066
U.S. News & World Report Ranking:
N/A
4. Penn State University World Campus
University Park, Pennsylvania
Points: 4
Program Website
The 30-credit Master of Professional Accounting at Penn State University World Campus prepares students to sit for CPA licensure as well as for careers in auditing and public accounting, government and nonprofit accounting, and industrial and managerial accounting. Students take 10 classes in these areas as well as courses in strategic cost management, business tax planning, and professional responsibilities and ethics in accounting. The inexpensive master’s program culminates in a capstone course that integrates materials students have already learned, focusing on litigation support, consulting, and investigative accounting activities. Although a Bachelor’s in Accounting is not required, students may need to complete prerequisite accounting courses prior to being admitted into the program. Students of this top affordable master’s degree program will have many opportunities before them upon graduation of this prestigious school.
Degree Options:
Master of Professional Accounting
Average Program Cost: $27,900
U.S. News & World Report Ranking:
#33
3. University of Illinois
Champaign, Illinois
Points: 4
Program Website
The Gies College of Business at the University of Illinois confers a fully online MS in Accountancy program known as the iMSA. This 32-credit-hour degree is only offered twice per year, but it builds upon the fundamentals of accounting like federal taxation, auditing, and financial reporting while teaching modern advancements in the industry such as analytics. Students can earn their degree from this low cost program within four to eight semesters, and courses combine hands-on live sessions known as “global classrooms” with asynchronous video lectures. Students also have access to alumni who can provide guidance and who serve as valuable contacts once they complete the program. Ranked among the top affordable master’s degrees in accountancy in the country, approximately 75 percent of graduates pass the CPA exam on their first try, and 98 percent are employed after graduation.
Degree Options:
iMSA
Average Program Cost: $27,200
U.S. News & World Report Ranking:
#47
2. University of Massachusetts – Amherst
Amherst, Massachusetts
Points: 4
Program Website
The MSA degree at the University of Massachusetts – Amherst is available either entirely online or in a hybrid format that consists of both online and on-campus coursework. The AACSB-accredited program consists of 30 credit hours, including nine credits of business electives, six credits of accounting electives, and 15 credits of core courses, and provides graduates with a solid understanding of auditing, tax laws, and business writing. Other areas of study include forensic accounting, globalization, corporate finance, and governmental and nonprofit accounting. Graduates of this top affordable master’s degree program are eligible to sit for the CPA exam or to pursue careers in upper-level positions in corporate, nonprofit, and government accounting environments. Due to state regulations, UMass cannot admit distance learners who live in Minnesota, Kansas, and Arkansas. This top inexpensive master’s degree program will prepare you for a future in management and business.
Degree Options:
MS in Accounting
Average Program Cost: $27,000
U.S. News & World Report Ranking:
#74
1. University of Texas at Dallas
Richardson, Texas
Points: 5
Program Website
This top affordable 36-semester-hour MS in Accounting program at the University of Texas at Dallas can be completed within 18 to 24 months, and students have the option to tailor their coursework in different areas such as ERP/SAP systems, internal auditing, assurance services, taxation, public accounting, and corporate accounting. Students choose from two enrollment options: cohort or flex. The flex program allows students to work at their own pace and choose their own course schedule, while the cohort program is comprised of a group of students who complete the same courses at the same time. Students are required to complete four business core classes, five accounting electives, and four accounting core classes. Although the cheap degree program is available entirely online, Texas CPA requirements mandate that students take at least 15 of the 30 credit hours face-to-face if they wish to sit for CPA licensure.
Degree Options:
MS in Accounting Flex
Average Program Cost: $16,254
U.S. News & World Report Ranking:
#38
Frequently Asked Questions
What are My Career Options for a MAcc Degree?
Graduates who earn a master’s degree in accounting online are prepared for a number of positions in the field of accounting. The ideal candidate should understand mathematical functions inside and out and be able to demonstrate dexterity in crunching numbers. Since a master’s degree is above the minimum bachelor’s degree that is typically required for entry-level positions in this field, applicants with graduate degrees may be eligible to seek higher, advanced positions in the field, including finance management, auditing, and accounting. Five of the most common career options for a master’s in accounting degree include:
- Financial Manager: Financial managers are responsible for overseeing all of the financial operations of a private client, corporation, or organization. They advise on investments, draft finance reports, and create a budget with a focus on overall financial health in order to help their clients reach long-term financial goals. Candidates should hold a bachelor’s degree and work in financial analysis, security, accounting, or sales for a minimum of five years to pursue this career path.
- Financial Analyst: Financial analysts make investment recommendations to improve the overall health of their clients’ financial portfolios, and they make informed investment decisions by analyzing the performance and risk of stocks and bonds. Candidates should hold a bachelor’s degree in economics, mathematics, accounting, or finance. Some employers may sponsor CFA certification for new-hires, while others may require FINRA licensure for sales positions.
- Cost Estimator: Cost estimators help estimate the materials, time, labor, and money required to provide a service, make a product, or complete a project. Most cost estimators, also known as budget estimators, work in auto repair, manufacturing, or construction. Candidates with a bachelor’s degree in business, finance, or a related field with work experience in their area of expertise are preferred.
- Budget Analyst: Budget analysts help clients manage their finances by monitoring their expenditures, amending or drafting their budget, and evaluating their spending habits. These professionals may be employed by private or public institutions, ranging from small business owners to large corporations. Most budget analyst positions require a minimum of a bachelor’s degree, though some government agencies may require applicants to hold the certified government financial manager credential.
- Auditor or Accountant: Auditors and accountants thoroughly examine and prepare financial records and taxes, respectively. They help ensure companies and individuals can follow financial regulations and rules and operate lawfully and efficiently. Accountants must be CPA-certified through their state board to file SEC reports. Although most employers accept candidates with CPA certification and a bachelor’s degree, candidates with a master’s degree may qualify for advanced financial positions.
How Much Can You Earn in This Field?
Employment and salary expectations for accounting master’s degree graduates varies by individual requirements, employer, and location. As is typically the case in nearly every industry, prospective employees with professional experience and advanced degrees qualify for the most lucrative jobs in finance and accounting. According to the U.S. Bureau of Labor Statistics, accountants and auditors reported an average salary of $70,500 in May 2018. The highest 10 percent earned more than $122,220, while the lowest 10 percent earned less than $43,020. During this year, the median annual wages for accountants and auditors in the top industries in which they worked were:
- Insurance and finance: $74,690
- Management of enterprises and companies: $73, 180
- Payroll, bookkeeping, tax preparation, and accounting services: $70,640
- Government: $68,420
In addition, since the field of accounting is broad and encompasses a number of disciplines and career paths, the BLS produces data regarding the median annual pay in May 2018 for the following accounting-related fields:
- Financial Manager: $127,990
- Financial Analyst: $85,660
- Budget Analyst: $76,220
- Cost Estimator: $64,040
What Coursework and Specializations Are Offered in Master’s in Accounting Programs?
Many of the cheapest online graduate degrees in accounting also provide a great academic experience. Although details may vary by program and school, applicants can expect similar application procedures, coursework, and concentration offerings as part of their accounting degrees. The cost and length of each program also vary, but most programs share several common features.
For instance, students may choose to specialize their online master’s in business administration degree through a specialization or concentration in areas such as management, forensics, auditing, taxation, or international accounting. Although coursework will depend on the school, program, and focus area, most online business administration master’s degrees offers courses such as:
- Corporate Financial Management
- Globalization and Managerial Economics
- Business Law and Ethics
- Auditing
- Financial Reporting
Although the time required to complete an online accounting degree varies from school to school, most students can earn a master’s degree within two years. Many online colleges and universities offer these programs in an accelerated format, which typically takes fewer than 24 months to complete. Although most online programs in accounting do not require any in-person or residency components, students who choose to complete one or more classes on-campus may need additional time to earn the degree.
A master’s degree in accounting is comprised of approximately 30-35 credits of study. Students must consider whether to pursue a full- or part-time schedule, and they may choose either a cohort or self-paced learning program. Some schools offer cohort-style learning that requires all students in the group to complete their classes at the same time, while other schools follow self-paced learning models that offer maximum flexibility and allow students to take as many courses as they want during each semester.
Although largely technical in nature, many online master’s in accounting degrees culminate in a thesis or capstone and include some additional requirements such as an internship. Most master’s-level internships are comprised of three credits, which students complete through placement in a local financial institution or accounting firm. Some programs coordinate paid internships. An online Master’s in Accounting degree generally concludes with a capstone course rather than a thesis.
Are There Any Professional Organizations for Accountants?
Becoming a member of a professional finance or accounting organization offers graduates and current students with a host of benefits. For instance, some professional organizations offer discounted rates to become members while they are pursuing a master’s degree rather than waiting until after graduation. For many students, doing so is encouraged as most professional organizations offer career placement services, classes for continuing education, and networking opportunities. Some of the most reputable and largest finance and accounting organizations include:
- MGI Worldwide
- Chartered Institute of Management Accountants
- Institute of Management Accountants
- National Society of Accountants
- American Institute of Certified Professional Accountants
In addition to joining a professional organization, students may consider seeking certification to increase their job prospects. Available certifications for students with a graduate degree in accounting include the Certified Management Accountant (CMA), the Chartered Financial Analyst (CFA), and the Certified Public Accountant (CPA) designations. Regardless of your career goals, we hope that our list of the top 25 most affordable online Master’s in Accounting degrees serves as a solid starting point as you narrow down prospective schools to further your education.
AS Staff
This concludes our ranking of the Top 25 Most Affordable Online Master’s of Accounting Degrees.
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