Accounting Degrees: Courses, Careers, Salaries

If you have a knack for numbers and love to tell the stories behind them, an accounting degree may be a good career choice for you. As an accounting professional, you review and create reports, process transactions, identify errors, and help people and companies manage their finances. It’s a surprisingly versatile major that can lead to jobs in private and public organizations across many industries.

Whether you’re beginning your path toward an accounting career or are ready to expand your skill set, exploring the different types of accounting degrees may be helpful. Understanding the differences between accounting degrees and what you can do with them can help you choose the degree program that best meets your personal and professional goals. Investigate types of accounting degrees, how to get one, and the careers you can pursue with this education.

What is an accounting degree?

An accounting degree is an undergraduate or graduate academic program with coursework designed to build your knowledge and skills in the accounting field. Along the way, you’ll learn about financial statements, tax laws, and the tools you need to analyze an organization’s finances and present this information to executives and other stakeholders. You’ll also have opportunities to learn about different software and tools used in the field.

Some of the skills you’ll have the opportunity to develop when pursuing an accounting degree are:

• Analysis: Review and manipulate raw data, and find errors or evidence of fraud.

• Business acumen: Understand the function of other departments, collaborate with team members in and across departments, and develop strategies for decision-making.

• Communication: Present information in a simple format.

• Critical thinking: Identify trends and irregularities in spreadsheets and financial statements, then develop strategies based on the data.

• Leadership: Adapt to changes from regulating authorities and company policies, assume senior roles as needed, and mentor other staff members.

• Mathematical reasoning: Use basic computations (add, subtract, multiply, and divide) and locate errors in calculations.

• Organization: Keep track of numbers in multiple financial statements and different projects, as well as meet deadlines.

• Software: Use Excel, SAP, Oracle, QuickBooks, tax software, and data analysis tools.

How much does an accounting degree cost?

The cost of an accounting degree will depend on which type you earn—associate, bachelor's, or master's—and whether you attend a public or private institution. For example, during the 2022-2023 academic year, the average cost of tuition and fees at a four-year public institution was $9,800 and $40,700 at a private institution [1].

What is the difference between a finance and an accounting degree?

The main difference between a finance and an accounting degree is the focus of the coursework: a finance major typically spends time learning about managing money, while an accounting major usually studies how to track money. Finance graduates tend to pursue work in investment banking, securities trading, and hedge fund management. Accounting graduates are more likely to find employment as accountants, auditors, or tax advisors.

Types of accounting degrees

You can earn an accounting degree at all levels, including associate, bachelor’s, master’s, and doctorate. You can also choose to earn an online accounting degree. When deciding which type of degree to pursue, it helps to consider your personal and professional goals. If your dream job is a certified public accountant (CPA), you’ll need to earn at least a bachelor’s degree.

The following list outlines the different types of accounting degrees along with the types of jobs you may qualify for with each one:

Associate degrees in accounting

You can typically complete an associate degree in about two years if you attend school full-time. The classes you’ll take to earn this degree will cover accounting concepts and topics like federal tax law and statistics. In addition, you’ll likely take general education courses to complement your concentration coursework.

Consider getting an associate degree if you want to start working in the field before completing a bachelor’s degree. You’ll have the opportunity to work an entry-level job, like an accounting clerk or billing specialist, to gain professional experience. In many cases, you will be able to apply your associate degree toward a bachelor’s degree and use it to transfer to a university when you’re ready to attend.

Bachelor’s degree in accounting

A bachelor’s degree in accounting usually takes four years to complete. After completing general education courses, usually during your first two years, you'll take foundational accounting courses alongside advanced topics like auditing, intermediate and advanced accounting, and quantitative tools.

People who work as accountants—including CPAs—usually have a bachelor’s degree, such as a Bachelor of Science in Accounting. By the time you complete your degree, you may have enough hours to take the CPA exam, but you'll likely need a few more courses to qualify. That’s not your only option, though. With a bachelor’s degree, you may be eligible for more advanced positions within a company, like budget analyst, procurement manager, or data analyst. 

Master’s degree in accounting

At the master’s level, you could earn a Master of Accounting (MAC or MAcc), Master of Business Administration (MBA) with a concentration in accounting, Master of Professional Accounting, or Master of Science in Accounting. You can complete these degrees in about two years.

The courses you’ll take in a master's program will be more specialized, such as strategic cost management, advanced Uniform Commercial Code (UCC) and commercial transactions, and investment management. For this reason, some schools may ask you to complete a set of prerequisite accounting courses if your bachelor’s degree is in a different major. With a master’s degree, you could work as an accountant, auditor, financial analyst, or chief financial officer.

Doctorate degrees in accounting

Doctorate degree (PhD) programs may take up to seven years to complete, but students can finish them in four to five years. You can choose between a PhD in accounting or a Doctor of Business Administration (DBA) with a concentration in accounting. If you want to work mainly in academic research, you’ll typically benefit from a PhD. However, if you prefer working in public or private organizations, then you’ll want to earn a DBA.

Both programs require a fair amount of research. You may write a dissertation or complete a capstone project. In your courses, you might have opportunities to create your own experiments. Your coursework could include the following: quantitative methods, econometrics, and business research design and methods. After earning a doctorate, you may decide to teach at a university or pursue a leadership position within an organization.

Accounting degree classes: What coursework can you expect to take?

As an accounting major, you can expect to take courses in accounting theory and practice, business management, and technology. The exact courses you take will depend on the school’s curriculum and the type of degree you’re completing. Additionally, if you’re in an associate or bachelor’s degree program, you’ll likely take general education courses like English, history, and science. In master’s and doctorate programs, however, you’ll likely take concentration courses from the beginning, which could include accounting and business courses.

Accounting courses

Accounting courses cover a range of topics, such as budgets, financial statements, tax law, and production costs. In your accounting courses, you’ll explore the accounting cycle as well as how to prepare financial statements, create and manage budgets, and collect and document financial evidence. You’ll also interpret and analyze financial documents, use accounting to make business decisions, and prepare federal tax returns for individuals and corporations. The accounting courses you’ll take may include the following:

• Auditing

• Cost accounting

• Emerging technologies in accounting and auditing

• Federal taxation 

• Financial accounting

• Financial statement analysis

• Forensic accounting

• Intermediate accounting

• Managerial accounting

• Tax planning and decision-making

Business courses

In many schools, accounting falls under the broader category of business. You may take business courses that cover topics like theories of leadership and management, business law, and analysis tools. In these courses, you’ll learn terminology related to business finance, how to use statistical methods to analyze financial problems, and how to apply theories to solve those problems. You could see the following courses in your degree plan:

• Business law

• Forensic accounting and litigation support

• Law for accountancy

• Managing and leading in business

• Management functions

• Business math and statistical measures

• Quantitative business tools

Accounting degree: jobs and salaries

Organizations of all types and sizes rely on the work of accounting professionals to create budgets, maintain financial records, record transactions, and more. The analytical and critical thinking skills you develop as you earn your degree apply to a variety of industries and roles within them.

Depending on your education and experience, you can consider the following accounting-related jobs:

1. Accountant

Median annual salary in the US (BLS.gov): $79,880 [2] 

Job outlook (projected growth from 2022 to 2032): 4 percent [2]

As an accountant, you’ll manage a company’s finances by analyzing data, preparing financial statements, and keeping track of financial records. You can choose to work as an employee within a company or maintain your own private practice. Some of your duties could include managing payroll, preparing tax documents, and advising senior staff about the company’s financial situation. 

2. Auditor

Median annual salary in the US (BLS.gov): $79,880 [2] 

Job outlook (projected growth from 2022 to 2032): 4 percent [2]

If you work as an auditor, you’ll review a company's financial statements and processes to identify inefficiencies, errors, and signs of fraud. You’ll also offer suggestions to improve the company's financial practices. You could work directly for the company as an internal auditor or for the government or regulatory agency as an external auditor.

3. Budget analyst

Median annual salary in the US (BLS.gov): $84,940 [3] 

Job outlook (projected growth from 2022 to 2032): 3 percent [3]

Working as a budget analyst, you will assist an organization by analyzing and managing its budget. You’ll also prepare and consolidate budgets, monitor the company’s spending, and review funding requests to ensure they comply with local and federal laws. In addition, you could work with managers and executives to evaluate spending habits and estimate future financial needs. 

4. Financial advisor

Median annual salary in the US (BLS.gov): $99,580 [4]

Job outlook (projected growth from 2022 to 2032): 13 percent [4]

In the role of a financial advisor, you’ll work with individuals to advise them on various financial topics, including insurance, investments, and tax laws. You will help clients set financial goals, create plans to meet those goals through budgeting and investing, and recommend investment products. 

5. Financial analyst

Median annual salary in the US (BLS.gov): $99,890 [5]

Job outlook (projected growth from 2022 to 2032): 8 percent [5]

In the financial analyst role, you’ll help individuals and companies make financial decisions, primarily about investments. You’ll research and analyze market trends, review financial statements, and recommend investment products. The role will also require you to determine a company’s value and work with management to help them understand their financial options. 

6. Financial manager

Median annual salary in the US (BLS.gov): $156,100 [6]

Job outlook (projected growth from 2022 to 2032): 16 percent [6]

In your role as a financial manager, you will oversee a company’s finances. You could also be the CFO in some businesses. You’ll be in charge of the company’s long-term financial planning, which can include reviewing financial statements and forecasts, ensuring compliance with regulations, and looking for growth opportunities. 

7. Payroll specialist

Median annual salary in the US (BLS.gov): $74,530 [7]

Job outlook (projected growth from 2022 to 2032): 7 percent [7]

As a payroll specialist, you’ll handle the payroll processing for a company. This includes collecting employee tax documents and timesheets, calculating wages, entering data into payroll software, and distributing paychecks. In addition, you may be responsible for preparing payment statements, processing payroll taxes, and preparing reports for the company’s accountant. 

8. Tax preparer

Median annual salary in the US (BLS.gov): $58,530 [8] 

Job outlook (projected growth from 2022 to 2032): 1 percent [8]

Tax preparers help individuals and businesses put together federal and state tax returns. In this role, you’ll advise these individuals and businesses on what documents and information they need, review receipts, enter data into tax preparation software, help them file the return, and ensure they follow tax regulations. 

Earn your accounting degree online

Accounting degree programs online can help you pursue different financial roles in many different industries. No matter where you are in your accounting career, you can find an array of courses designed to help you explore accounting topics, theories, and practices. 

Consider the Fundamentals of Accounting Specialization from the University of Illinois or the Introduction to Financial Accounting course from the University of Pennsylvania’s Wharton School to build your knowledge of accounting concepts and applications. Expand your skill set with the Intuit Academy Bookkeeping Professional Certificate.

If you’re ready to earn your master’s degree, the University of Illinois Urbana-Champaign’s Gies College of Business offers an online Master’s of Accounting (iMSA). With this accounting degree, you can enter the accounting field or advance your existing career.