Now that the market is open to a lot many options for advancing your career, today students are not restricted in their options by financial status or lack of future options. Today the times are all about embracing and pursuing one’s passion rather than being dragged down by conservative and limited options. While an MBA is quite a popular opinion amongst the millennials the right stream to do the MBA in is an equally important aspect of it. Checking out all the streams, their eligibility, and their career paths are the first step to approach an MBA in the right way. Amongst all the branches, let’s discuss one such MBA that is gaining popularity across the globe – MBA in Accounting.
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Why MBA in Accounting?
An MBA is meant to be a course that grooms and readies the candidate for the rough and tough life. The one or two year(s) program is to bring about the leadership qualities and/or the manager level skills required to get to the top of the chain. A student chooses an MBA in Accounting when he/she wishes to make a career in finance or taxation. This gives the candidate access to opportunities pertaining to accounting in public or private companies. MBA in Accounting has no prerequisite in terms of an undergraduate course, and any student with the specified percentage can apply and do the course.
Course Structure of MBA in Accounting
It is common knowledge that students of all MBA streams are required to study the basic subjects at the beginning of the course. These subjects are common to all streams and clearing them will allow the students to get down and deep in their selected stream subjects. Here is a list of some of the subjects taught during an MBA in Accounting:
- Auditing and Professional Responsibilities
- Advanced Accounting
- Commercial Law
- Financial Accounting
- Organisational Behaviour and Leadership
- Innovation Management in Products and Services
- Marketing Concepts and Commercialisation
- Advanced Taxation
- Competitive Strategies
- Information Technology
- Financial Management
- Legal Aspects of Business
- Management Accounting
- Management Information Systems
- Managerial Communication
- Managerial Economics
- Manufacturing & Operations Management
- Materials & Logistics Management
- Statistical & Quantitative Methods
- Business & Environmental Management
- Human Resource Management
There are other subjects that are taught too, but these can be considered as few of the core topics taught during an MBA in Accounting. Keeping in mind the kind of knowledge the student stands to gain from the course, the student should move forward with their choice.
Universities/Colleges Offering MBA in Accounting
After looking through the career options and course framework of an MBA in Accounting, it is important to look over colleges that offer the knowledge and opportunities required to make it big in the area. A good college ensures a good study environment, good professors, the right subjects and good placement opportunities.
Here is a list of colleges that you must consider:
Top Universities Abroad
|University Name||Location||Course Name||Duration |
|Dallas Baptist University||Dallas, USA||MBA in Accounting||2 semesters|
|IU International University of Applied Sciences||Bad Honnef, Germany||MBA – Finance & Accounting||3 semesters|
|Sloan School of Management, MIT||USA||MBA in Financial Accounting, MBA in Corporate Financial Accounting||1-2 years|
|Stanford Graduate School of Business, Stanford University||USA||MBA in Accounting||1-2 years|
|Columbia Business School, Columbia University||USA||MBA in Accounting||1-2 years|
|University of Chicago||USA||MBA in Accounting||1-2 years|
|Northwestern University||USA||MBA in Accounting through:Managerial Accounting Track Financial Accounting Track||1-2 years|
|The University of Texas at Dallas||Richardson, USA||MBA in Accounting||18 – 36 months|
|Upper Iowa University||USA||MBA in Accounting||3 semesters|
|Rochester Institute of Technology||Rochester, USA||Master of Business Administration – Accounting||Full-timePart-time|
|Manipal Academy of Higher Education Dubai||Dubai, United Arab Emirates||Online MBA||2 – 3 years|
|West Virginia University||Morgantown, USA||MBA in Accounting||12 months|
|Broward International University||Davie, USA||MBA with Concentration in Accounting||18 months|
|University of Phoenix||Phoenix, USA||Master of Business Administration/Accounting||2 years|
|OUS Royal Academy of Economics and Technology in Switzerland||Zürich, Switzerland||Executive Master in Accounting and Financial Management||12 months|
|National American University||Austin, USA||Master of Business Administration (MBA): Emphasis Accounting||Full-timePart-time|
Top Universities in India
If you wish to pursue MBA in Accounting course from India, then here are some options of universities, colleges and B-schools that are available:
- IIT Bombay, Mumbai
- Rabindranath Tagore University, Bhopal
- Jawaharlal Nehru Technological University, Hyderabad
- ICFAI University, Dehradun
- Delhi Technological University, Delhi
- Presidency College, Bangalore
- Institute of Business Studies and Research, Navi Mumbai
- Bangalore City College
- GD Goenka University, Gurgaon
- WLC College, Chennai
MBA in Accounting: Eligibility and Important Requirements
Candidates applying for admission to the MBA in Accounting programme must meet the college’s eligibility requirements. Each college will have its own set of eligibility requirements. The following are the requirements:
- A bachelor’s degree in any discipline is required of candidates.
- To be eligible for entry, they must have earned at least 45 per cent to 50 per cent on their bachelor’s degree.
- English Proficiency Test scores such as IELTS/TOEFL/PTE, if planning to study abroad.
- Exam scores like GMAT/GRE, etc.
- All academic transcripts
- Statement of Purpose
- Letters of Recommendation
- Work Experience (if required)
- Updated CV/Resume
- Student Visa (if planning to pursue MBA from Abroad)
MBA in Accounting: Career Options and Job Prospects
An MBA in Accounting can open doors to different kinds of career options, such as:
- Financial Analyst
- Certified Public Accountant
- Tax Manager
- Auditing Manager
- Financial Planner
- Tax Fraud Examiner
- Budget Analyst
- International Accountant
- Tax Consultant
- Equity Analyst
- Forensic Accountants
- Accounting Firm Partner
- Chief Accounting Officer
- Accounts Receivable Clerk
- Accounting Associate
- Accounting Manager
There are different options, one can choose even after an MBA in Accounting. It is not compulsory to go through with these career options specifically. A career in marketing and sales, for example, is another option that, if not completely, gels well with the subjects offered. However, these career option suits well with the framework of the subjects offered in an MBA in Accounting.
MBA in Accounting can help you train for the most common accounting certifications, such as the CPA, which can lead to accounting manager roles, financial analyst positions, and even chief financial officer positions.
Accounting, applied statistics, human resources, corporate communication, business ethics, business law, business policy, finance, managerial economics, management, entrepreneurship, marketing, supply-chain management, and other topics are covered in an MBA program’s core courses.
Accountants in the United States receive an annual median wage of $70,500, according to the Bureau of Labor Statistics (BLS).
It all comes down to your professional aspirations, aptitude, and personal preferences when deciding between an MBA and a CPA. If you want to advance in your career and improve management skills, an MBA might be the best option, but a CPA license is also highly regarded and demonstrates your competence in accounting or finance.
Both the CPA Exam and the GMAT are tough exams. Based on your previous testlet, the CPA Exam assigns you a relatively difficult, medium, or simple testlet. On the other hand, each question on the GMAT’s Quantitative and Verbal sections is chosen based on your results on the previous question.
Choices a decade ago were a luxury that students were not offered. Now with choices being the prime factor that drives one’s professional life ahead, one must choose wisely. Not just the choice of career direction or course to study, but also how you want to navigate that path. We at Leverage Edu are there to help you make the right choices that will help you build an awesome career.