Earning a master’s degree in accounting has become the gold standard for aspiring CPAs and accounting professionals. With the universal requirement of 150 semester hours for CPA licensure, a graduate degree provides the most comprehensive path to meet educational requirements while gaining advanced expertise in taxation, auditing, and financial reporting.
This comprehensive guide explores the different types of accounting master’s programs—including MSA, MAcc, and MBA options—to help you make an informed decision about your accounting education and career path.
Why a Master’s in Accounting is Essential for CPAs
The path to becoming a Certified Public Accountant (CPA) requires more than just passing the exam. Here’s why earning a master’s degree has become the preferred route:
Meeting the 150-Hour Requirement
All states (except the US Virgin Islands) require CPA candidates to complete 150 semester hours of postsecondary education. While you can meet this requirement through various combinations of undergraduate and graduate coursework, a master’s degree provides the most structured and valuable approach.
Career Advantages of a Master’s Degree
- Enhanced Employment Prospects: Employers increasingly prefer CPAs with advanced degrees due to their deeper understanding of complex accounting principles
- Higher Earning Potential: Graduate degree holders typically command higher starting salaries and faster career progression
- CPA Exam Preparation: Master’s programs provide comprehensive preparation for all four sections of the CPA exam
- Leadership Readiness: Advanced coursework in business strategy and management prepares graduates for senior positions
- Partnership Track: According to the American Institute of CPAs, a master’s degree has become nearly a prerequisite for partnership in CPA firms
Types of Accounting Master’s Programs
Understanding the differences between accounting master’s programs is crucial for selecting the right path for your career goals. Each program type offers unique advantages:
Master of Science in Accounting (MSA)
The MSA program focuses on developing technical accounting competencies and is ideal for students who need to build foundational accounting knowledge. These programs typically include prerequisite courses for students without accounting backgrounds.
Master of Accountancy (MAcc)
MAcc programs assume students have completed undergraduate accounting coursework and dive directly into advanced topics. These programs often allow students to waive introductory courses and focus on specializations.
MBA in Accounting
An MBA with an accounting concentration provides a broader business education alongside accounting expertise. This option is perfect for professionals seeking leadership roles that require both accounting knowledge and general management skills.
Core Curriculum and Coursework
Regardless of the degree type, accredited master’s programs in accounting include rigorous coursework designed to prepare graduates for the complexities of modern accounting practice:
Foundation Courses
- Advanced Financial Accounting and Reporting
- Advanced Auditing and Assurance Services
- Corporate Taxation Strategies
- Advanced Cost and Managerial Accounting
- Accounting Information Systems
- Business Law and Ethics
- Financial Statement Analysis
- Research Methods in Accounting
Specialization Tracks
Most programs offer specialized concentrations to align with specific career goals:
Online vs. On-Campus Programs
The flexibility of online accounting master’s programs has made them increasingly popular among working professionals. Here’s how to evaluate your options:
Online Program Advantages
- Flexibility: Complete coursework while maintaining full-time employment
- Cost Savings: Eliminate commuting and relocation expenses
- Technology Integration: Gain experience with digital tools used in modern accounting
- Networking: Connect with professionals across geographic boundaries
Choosing Quality Online Programs
When evaluating online programs, look for:
- AACSB or ACBSP accreditation
- Synchronous learning opportunities
- Virtual CPA exam prep support
- Career services for online students
- Technology requirements and support
Accreditation: Ensuring Program Quality
Accreditation is crucial for ensuring your degree meets CPA licensure requirements and employer expectations. Three major accrediting bodies evaluate accounting programs:
AACSB International
The Association to Advance Collegiate Schools of Business represents the gold standard, with less than 5% of business schools worldwide achieving this accreditation. AACSB-accredited programs must demonstrate excellence in:
- Faculty qualifications and research
- Curriculum relevance and rigor
- Student learning outcomes
- Continuous improvement processes
ACBSP
The Accreditation Council for Business Schools and Programs focuses on teaching excellence and student outcomes, making it common among regional universities and online programs.
IACBE
The International Assembly for Collegiate Business Education emphasizes outcomes assessment and practical application of accounting knowledge.
Admission Requirements and Prerequisites
Master’s programs in accounting have varying admission requirements based on your undergraduate background:
Common Admission Components
- GMAT/GRE Scores: Many programs require scores of 550+ (GMAT) or equivalent
- Undergraduate GPA: Typically 3.0 minimum, competitive programs prefer 3.5+
- Professional Experience: Not always required but strengthens applications
- Letters of Recommendation: Usually 2-3 from professors or employers
- Statement of Purpose: Articulate career goals and program fit
Cost Considerations and ROI
Investing in a master’s degree requires careful financial planning. Here’s what to consider:
Program Costs
Return on Investment
According to the Bureau of Labor Statistics, accountants and auditors with master’s degrees and CPA licenses typically earn 15-20% more than those with only bachelor’s degrees. The investment in a master’s degree often pays for itself within 3-5 years through increased earning potential.
Accountant and CPA Salary Outlook
Understanding salary potential helps justify the investment in graduate education. Here’s what accounting professionals can expect:
National Salary Data
Salary by Specialization
Certain specializations command premium salaries:
- Forensic Accounting: 10-15% above average
- Information Systems: 15-20% above average
- International Taxation: 20-25% above average
- Financial Reporting (Public Companies): 15-25% above average
May 2024 Bureau of Labor Statistics salary data for Accountants and Auditors reflect state and national data, not school-specific information. Conditions in your area may vary. Data accessed June 2025.
Choosing the Right Program: Key Factors
Selecting the ideal master’s program requires evaluating multiple factors:
Program Selection Checklist
- ✓ Accreditation status (AACSB, ACBSP, or IACBE)
- ✓ CPA exam pass rates of graduates
- ✓ Specialization options aligned with career goals
- ✓ Faculty credentials and industry experience
- ✓ Career services and recruiting relationships
- ✓ Format flexibility (online, hybrid, evening/weekend)
- ✓ Total cost and available financial aid
- ✓ Alumni network strength in your target location
- ✓ Technology and learning resources
- ✓ Internship and networking opportunities
Questions to Ask Admissions Counselors
- What percentage of graduates pass the CPA exam on their first attempt?
- How does the program prepare students for the CPA exam?
- What career services are available to graduate students?
- Can I customize my curriculum based on my career goals?
- What networking opportunities exist with alumni and employers?
- How are online students integrated into the campus community?
- What financial aid options are available specifically for graduate students?
Next Steps: Your Path Forward
Ready to advance your accounting career? Here’s your action plan:
- Assess Your Current Status: Evaluate your undergraduate coursework and determine prerequisite needs
- Define Career Goals: Identify whether you want to pursue public accounting, corporate finance, or specialized fields
- Research Programs: Use our accounting school directory to find accredited programs
- Prepare for Admissions: Take the GMAT/GRE and gather application materials
- Explore Financing: Research scholarships, assistantships, and employer sponsorship
- Connect with Current Students: Reach out to programs for virtual information sessions
A master’s degree in accounting represents a significant investment in your professional future. With careful planning and the right program choice, you’ll be well-positioned for a successful career as a CPA or senior accounting professional.
Frequently Asked Questions
Can I pursue a master’s in accounting without an accounting undergraduate degree?
Yes, many programs accept students from non-accounting backgrounds. You’ll typically need to complete prerequisite courses in accounting fundamentals, which may add 6-12 months to your program timeline. Some schools offer accelerated “bridge” programs to help career changers catch up quickly.
How long does it take to complete an online master’s in accounting?
Online programs typically take 18-24 months for full-time students or 24-36 months for part-time students. The flexibility of online learning allows you to adjust your course load based on work and personal commitments.
What’s the difference between an MSA and MAcc degree?
While both are master’s degrees in accounting, the distinction is often minimal and varies by institution. Generally, MSA programs may have a slightly more technical focus, while MAcc programs might emphasize professional practice. Both degrees satisfy CPA education requirements equally.
Do I need work experience to apply for a master’s in accounting?
Most programs don’t require work experience for admission, though it can strengthen your application. Some executive or part-time programs may prefer candidates with 2-3 years of professional experience. Recent graduates are typically welcome in full-time programs.
Will a master’s degree guarantee I pass the CPA exam?
While a master’s degree provides excellent preparation, passing the CPA exam requires dedicated study beyond coursework. However, graduates of quality programs typically have pass rates 10-20% higher than the national average due to comprehensive preparation and strong foundational knowledge.
Is AACSB accreditation necessary for CPA licensure?
AACSB accreditation isn’t legally required for CPA licensure, but it ensures your program meets high-quality standards. Most state boards accept degrees from regionally accredited institutions, but AACSB accreditation provides additional assurance of program quality and is preferred by many employers.
