Choosing The Best Master's Degree For You: Master's in Accounting
More and more business schools are offering business masters degrees, from generalist programs in management to specialized master’s offerings covering topics like accounting, data analytics, finance, and marketing.
With so many options out there, choosing the best master’s degree to suit your career ambitions can be a challenge.
Before applying, candidates should know the answers to the following questions: Who are the different master’s programs for? What jobs do they lead to? What do you study on the course? What do you need to know to get accepted?
To answer those questions, we spoke with faculty from five of the most common business master’s degree options at some of the world’s leading business schools.
Read on to find out how to choose the best master’s degree for you.
Master's in Accounting
Read what Dr. Wang Jiwei, MSc in Accounting director at Singapore Management University (SMU), had to say about a Master's in Accounting:
Who is a Master’s in Accounting for?
Our Master of Professional Accounting (MPA) is designed to create a pathway for non-accounting graduates working or seeking to work in a field that requires specialized knowledge in accounting.
We also have a Master of Science in Accounting (MSA) which specializes in data and analytics. It’s designed for students who already have a background in accounting or business related disciplines, but wish to further their career and skills set in this data-driven era.
What skills/qualifications do you need to apply?
The overall quality of the applicant determines admission to the program. This would include prior academic performance at university, work experience, referees reports, interview scores, and GMAT/SMU Admission Test is compulsory.
Applicants must have sufficient background in math. Applicants with post-undergraduate working experience will have an added advantage. Applicants to the MSA must also have a business or accounting background.
What will you learn on a Master’s in Accounting?
Through the MPA course, students will learn about the three pillars of accounting; the business fundamentals, accounting core and the professional services which would include the following modules: management accounting, taxation, audit, corporate financial management and financial accounting.
The MSA equips students with the essential skills to harness data for critical decision making. They learn to make use of tools such as R, Python, Tableau, and SQL for data analysis, data visualization and data management. They also can learn machine learning techniques, and understand how they can be applied to the accounting and finance work.
What jobs can you qualify for after a Master’s in Accounting?
An accounting master’s degree is versatile. Every company needs somebody who is well versed in finance and accounting. Hence, the career of an accountant is not limited to the accounting, banking and finance industry. Good accountants are in demand in every sector.
In the recent years, the role of an accountant has evolved. Many organizations are eliminating manual accounting work, because computers and robots can automatically generate accounting entries.
But at the same time, we also see a growing demand in other job functions, mainly in the areas of data processing, management analysis and financial analysis. In the current market, there is a demand for domain experts who understand finance, accounting and data technology and how the systems work.
Top tip for applying to SMU?
What will give our applicants an edge is whether they have the drive to excel, the gumption to overcome challenges and the passion to make a meaningful impact through their work.
Check out what other faculty had to say about other Business Master's degrees:
This article was originally published on BusinessBecause.
Whether you’re considering an MBA, EMBA, or Master’s program, read more content like this and get practical resources to help your business school application on BusinessBecause.