What Is a Master's in Accounting?

A master’s in accounting is a graduate program with courses in accounting, finance, strategy, and management that can prepare you to gain certification as a Certified Public Accountant (CPA). Whether you’re seeking to advance in your current role or move into a new career, you can pursue either goal with a master’s degree in accounting. 

Accounting is an important component of business operations, which is why accountants and similar roles show a four percent job growth between 2022 and 2032, according to the US Bureau of Labor Statistics (BLS) [1]. Working in accounting often requires more than playing around with numbers. You’ll also need analytical skills, an understanding of business principles, and technological skills as you advance your career. 

Learn more about the types of accounting degrees available, what you’ll learn in each program, and what you can do with your degree. 

Master’s degree in accounting

At the master’s level, accounting programs often focus on helping you develop a greater knowledge of accounting and finance. More than mastering spreadsheets and other accounting software, you may also find that they deepen your analytical abilities with in-demand data skills, such as statistical analysis, coding, and more. 

You can earn your master’s in accounting in-person or online, and program lengths vary from 10 months to two years of full-time study. You should note that accelerated programs, such as those that take less than a year to complete, can require a more significant time commitment to ensure you finish on time.

Types of master's in accounting degrees

You can earn different types of master’s degrees in accounting or related subjects, such as taxation. Explore the key differences of these degree programs to find one that best aligns with your goals and prepares you for a career in finance or accounting.

• Master of Accounting (MAC or MAcc) or Master of Science in Accounting (MSA): Sometimes called Master of Accountancy, these master’s degrees suit learners who earned their bachelor’s in accounting and have a firm understanding of business and accounting principles. You can learn advanced accounting techniques in a shorter time frame (around one year) than other programs, while gaining the knowledge to take the CPA exam if you so choose.

• Master of Business Administration (MBA) in Accounting: The MBA in accounting is a lucrative business degree that combines a general knowledge of business with a concentration in accounting. You can expect a combination of business courses on operations and management, among other key subjects, with some accounting courses. You typically do not need to have a bachelor’s degree in accounting to apply for this type of program. 

• Master of Professional Accounting: This graduate program, often available online, is similar in length to the MS in Accounting and is ideal for students who earned their bachelor’s in accounting. Besides deepening your knowledge of accounting, your courses will prepare you to take the CPA exam. 

• Master of Science in Taxation: Typically intended for accounting students who want to advance their knowledge of complex tax codes, this two-year program focuses on a mix of accounting and taxation coursework to help you move into a tax-focused career, such as a tax advisor. 

Master’s in accounting courses

In a master’s in accounting program, you’ll complete courses covering a range of topics, including taxation, finance, and business. Different programs have different course requirements, so the type of accounting master’s degree you choose will determine the coursework you must take. For example, the MS in Accounting focuses almost exclusively on accounting and financial coursework, whereas the MBA will bridge business and accounting.

Common MAcc coursework includes:

• Federal taxation

• International taxation

• Corporate taxation

• Cost systems

• Auditing and assurance 

• Ethics and negotiations

• Tax practice and procedure

Common MBA coursework includes:

• Corporate finance

• Business contracts

• Microeconomics

• Managing people and organizations

• Consumer behavior

• Business communications

• Supply chain management

• Principles of operation

Master's in accounting concentrations

As a graduate student in accounting, you may have the opportunity to specialize in an area of accounting that best suits your career goals, such as auditing, public accounting, and business administration. Programs may offer different concentrations, so review the ones you’re interested in attending for more information.

Some common MAcc concentrations are: 

• Assurance

• Audit and control

• Financial reporting

• Accounting information systems

• Public accounting

• Business administration

• Managerial accounting 

Is a master’s in accounting the same as an MBA?

A master’s in accounting is not the same as an MBA. While both are graduate-level degrees in business, they focus on different areas within the field. As a master’s in accounting student, you’ll study various topics in accounting. Conversely, an MBA program offers a broad business education, and students can choose a concentration beyond accounting, such as strategy, marketing, or operational management. Choose the best graduate-level business degree based on your background and your career aspirations.

What can you do with a master's in accounting?

With a master’s in accounting, you can work in numerous industries performing an array of accounting, financial, tax, or managerial duties. If you opt for an MBA with an accounting concentration, you can also explore careers related to business in general, including management and leadership.

Master's in accounting salary and related jobs

The median annual pay for an accountant is $79,880, according to the BLS, and you can explore higher-paying roles with a master’s in accounting [2]. As you consider your options for an accounting job, consider these average master’s in accounting salaries for various positions in the field. 

*All annual base salary data is sourced from Glassdoor as of August 2024 and does not include additional pay, such as commission and benefits.

Do you need a master's in accounting to be a CPA?

The American Institute of Certified Public Accountants doesn’t require you to have a master’s in accounting to take the CPA exam. However, these MAcc degree programs can give you the knowledge and credit hours needed to earn your CPA certification.

States grant CPA licensure and traditionally require 150 credit hours from an accredited college or university before you can take the exam. Because a bachelor’s degree typically involves earning a minimum of 120 credit hours, you’ll need another 30 credit hours at the graduate level to qualify for the CPA exam, which is why many master’s programs take one year or less.  

If you have a bachelor’s degree, you may also take credit courses toward meeting the CPA exam qualifications without pursuing a degree. Check your state’s CPA licensing requirements to learn more.

Choosing the best accounting master's program for you

The best master’s in accounting program for you is the one that aligns with your resources, career goals, and preferred way of learning. Reflect on the best degree and program type for you by considering these factors.

Online vs. in-person 

Because you have the option of earning your accounting master’s degree online or in person, think about which learning style best suits your needs. While some students enjoy the structure of in-person learning, others enjoy the flexibility of learning online.

Length of program

The length of your program will depend on the type of master’s degree you choose to earn: MAcc vs. MBA. Remember that MAcc and Master of Professional Accounting degrees take one year and require you to first have earned your bachelor’s degree in accounting.

Cost

The average cost of a master’s degree ranges from $56,000 to $75,000 [3]. However, MAcc programs often require fewer credits than MBA programs, which can reduce your costs. You’ll take about 30 credit hours to earn your master’s in accounting. On the other hand, many MBA programs require 48 to 60 credits. Since you can expect to pay your tuition on a per-credit-hour basis, your overall tuition costs for a master’s in accounting will be lower than an MBA if it requires fewer credits. 

Coursework

Evaluate the coursework of potential master’s in accounting programs to find a curriculum that aligns with your broader career and educational goals. For example, if you want to focus almost exclusively on accounting, then perhaps an MAcc makes more sense. However, if you want to hone your business acumen in equal measure, an MBA may be the right choice for you.

Learn more: Is a Master’s Degree Worth It?

Next steps toward earning a master’s in accounting

Earning a master’s in accounting can develop your business skills and prepare you for a rewarding career in the field. Get started by earning your credentials. Consider the Master's of Accounting (iMSA) program from the Gies College of Business at the University of Illinois on Coursera. You can complete this program at your pace in four to eight semesters.