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Whether running a small business or an established corporation, balancing the books is essential. Managing your accounts accurately and staying compliant with tax regulations requires an expert accounting team that can help you make informed financial decisions. An MBA concentration in accounting can help you gain these skills.
The Coursework
Pursuing an MBA concentration in accounting will undoubtedly enhance your comprehension of financial statements, budgeting, and forecasting. By mastering the art of identifying crucial financial metrics, you will be empowered to make well-informed decisions that propel business growth.
You’ll also take advanced courses in forensic accounting, cost management and analysis, managerial accounting, tax accounting, business income tax concepts and strategies, and mergers and acquisitions. It is a unique skill set that employers across industries value.
With a concentration, you’ll receive more focused coursework relevant to your desired career path and industry. It can help you stay more engaged with your degree program and give you a leg-up when searching for jobs in your field. You can find MBA programs that offer a concentration in accounting on college campuses, online, and in a hybrid format.
The Networking
In addition to the education and skills you gain from your MBA program, an accounting concentration can expand your professional network and potentially set you up for a higher salary. Recent survey data from the Graduate Management Admission Council shows that MBA graduates earn an average base salary of $115,000, highlighting the immense value of pursuing an MBA degree.
You can select a specialization or emphases that align with your career aspirations. For example, the Business Analytics MBA concentration prepares you to analyze data and help businesses develop a plan of action that improves business efficiency.
You can also take the Small Businesses and Startups MBA concentration, which teaches you how to support entrepreneurs in growing and expanding their businesses. Or you can go with the Sustainability MBA concentration to learn how to make organizations move beyond “check-the-box” sustainability efforts into a steady, sustainable improvement culture. There are many other options, too. Talk to your MBA adviser about the areas you are most interested in and choose a concentration that aligns with your career goals.
The Career Opportunities
An MBA with a concentration in accounting allows you to work at the forefront of your industry. You’ll have the skills and knowledge required to work in several roles, including management, financial reporting, taxation, and auditing.
An advanced degree like an MBA also provides a solid platform to expand your professional network. You’ll meet fellow students and alums, as well as industry leaders and faculty members, who will be able to provide you with valuable insights and support in your career journey.
When you’re ready to apply for an MBA program, polish your resume and highlight your career accomplishments, demonstrating your potential for accounting success. Also, remember to compose a compelling application essay that showcases your passion for the field and your commitment to professional growth.
The Experience
While an MBA with an accounting concentration may only be suitable for some, it offers a robust career boost for those with the determination and time management skills to handle its rigorous course load. It can also help students develop advanced business skills less widely available in undergraduate degree programs, allowing them to bypass entry-level positions and move straight into management roles.
An MBA with an accounting concentration is beneficial for those looking to work in corporate finance roles or at accounting firms. Businesses tend not to outsource accounting duties due to the sensitive nature of the information involved, meaning a graduate with a concentration in accounting will be in demand.
William Paterson University offers a highly regarded online MBA program with an accounting concentration designed to prepare graduates for management-level careers across industries. The program provides opportunities for networking and learning from faculty members and alumni in accounting, taxation, and management.
