Best online master’s in accounting 2021: Top picks

In an accounting master’s program, students develop knowledge of economics, business, and accounting laws, along with advanced analytical skills. The increasingly globalized and complex business and financial landscape has created a strong demand for highly skilled financial professionals.

The Bureau of Labor Statistics projects that there will be 100,000 new accountant and auditor positions between 2020 and 2030, on top of the current rate of 135,000 annual openings. With a master’s degree, graduates can qualify for many accounting positions and industry certifications. Here, we rank the best accounting master’s programs to help prospective students narrow their search.

The best online master’s in accounting degrees

To ensure our rankings reflect the most up-to-date information, we follow a strict research process. ZDNet’s ranking methodology pulls publicly available data from reputable sources, giving readers an accurate list of the top schools and programs.

Unless otherwise indicated, data is drawn from the Integrated Postsecondary Education Data System and College Scorecard.

Insights from a master’s in accounting graduate

 Mike Jesowshek is a modern and innovative CPA on a mission to ensure small business owners pay the least amount in taxes as legally possible. An entrepreneur for his entire career, it has become his mission to help out businesses that are going through successes and struggles — this is how the Small Business Tax Savings Podcast was born. Mike’s end goal is to help business owners in an area they are often not familiar with: accounting.

What career advantages did a master’s in accounting open up for you? In what ways was it worth it? 

In order to sit for the CPA exam, I had two main options: get a master’s or get a double major. Since I was already dedicated to the accounting route, I thought that the master’s option would be more rewarding. It allowed me to dig deeper into accounting, while also giving me the necessary credits to sit for the CPA exam.

Was there anything about earning an accounting master’s that you didn’t expect or anticipate? 

One thing I didn’t expect was the way that others look at a master’s — adding that master’s to your resume goes a long way. A master’s doesn’t only equate to additional and deeper learning on a subject — it also demonstrates your dedication to your career and profession.

What was the most challenging course you took during your master’s in accounting degree program? What advice would you give to students who are about to start this course? 

No doubt, tax was the most difficult course during my master’s in accounting. With that being said, it’s a major part of my career now and the deep dive into it opened me up to continue to learn more in this area. My advice would be to fight through it. It’s tough and can turn you away from the profession, but also understand that as you get into practice, you often will get more specialized within the code. Therefore, full in-depth knowledge of everything will very unlikely ever be part of your job.

What to expect in an online master’s in accounting degree program

In general, an online accounting master’s program features intermediate and advanced financial accounting and taxation training for individuals, businesses, and corporations. Many degrees also include courses in business, economics, ethics, and communication. Classes require individual and group work, practical assignments, and advanced research.

Many accounting master’s programs provide at least 150 clinical hours in preparation for postgraduate industry certifications, like the certified public accountant (CPA) credential. Some degrees offer specialization tracks as well, such as forensic accounting and financial management. Students in accounting programs typically possess analytical, math, and organizational skills, along with the self-motivation and proactiveness needed for online learning. 

Master’s in accounting courses

While the courses in an accounting master’s program vary depending on the school, the following list highlights some of the most common courses in accounting offered at the master’s level.

Financial Statement Analysis

This course teaches students how to interpret and analyze financial statements. Learners also look at the rules and impacts of financial statements and analysis, along with their applications and limitations.

Accounting Ethics 

In this course, students learn about the rules, regulations, and ethical standards in place for accounting professionals. They explore some of the most common issues in the field and the professional codes of conduct.

Auditing and Assurance

Students in this course learn about the roles of auditors and assurance providers. They examine internal and external audits, risk assessments, and reporting guidelines for these processes.

Taxation

This course explores the taxation responsibilities in individual, business, corporate, and governmental accounting. Students examine tax laws and financial planning issues associated with taxation.

Accounting degree levels

The different accounting degree levels provide varying depths of training. Different degree levels influence what skills a student will develop and what careers they will be able to enter. An individual’s level of education also impacts the types of certifications available after graduation.  

Associate in accounting

• Length: One to two years
• Cost: $11,390 per year (on average)
• Post-grad careers: Bookkeeping clerks, financial clerks, and administrative assistants

At the associate degree level, accounting programs train students in the fundamentals and principles of business and accounting. Students learn how to read and analyze financial documents in various settings and for different purposes. 

These degrees equip learners to pursue entry-level business and accounting careers, along with further education in those fields. The training usually combines classroom instruction and practical assignments and provides skills in payroll, financial analysis, banking, and record keeping.

Bachelor’s in accounting

• Length: Four years
• Cost: $28,120 per year (on average)
• Post-grad careers: Accountants, auditors, and financial analysts

An online accounting degree at the bachelor’s level equips learners with a solid foundation in business and accounting. The training prepares learners for many accounting careers and industry certifications, along with further training for aspiring accounting and business leaders. 

Students develop skills in financial analysis, research, and taxation, along with the ability to perform these roles in different settings. Bachelor’s programs usually combine independent study, classroom instruction, practical assignment, and applied learning. 

Master’s in accounting

• Length: One to two years
• Cost: $19,790 per year (on average)
• Post-grad careers: Budget analysts, financial examiners, and financial managers

An accounting master’s degree delves into advanced concepts in business and financial management, teaching students to combine and apply their training from each of these fields. Learners develop leadership, advanced research, and analysis skills, and they learn to use various field techniques and technologies. 

Many master’s programs offer specialization options, such as cost accounting, international accounting, and forensic accounting. Students can also pursue accounting through an MBA concentration. Master’s graduates qualify for most advanced accounting professions and certifications.

Doctorate in accounting

A doctorate in accounting focuses on advanced analysis of financial information and markets. Students also learn advanced research and teaching methods, gaining the ability to apply their research findings to develop hypotheses, further questions, and plan lessons. 

At this level, the majority of work involves seminars, discussion groups, and independent research. Learners typically establish a research specialization, complete a comprehensive examination, and write a dissertation. 

In conclusion

While students can find value in all types and levels of accounting training, an accounting master’s degree qualifies graduates for some of the most desirable accounting positions and credentials. Prospective students can start their search on this page knowing the programs listed provide some of the best training in the country.