Accounting Degree Requirements: Education, Skills, and Career Path
Earning an accounting degree is the first step toward a career in finance, bookkeeping, auditing, or corporate accounting. Whether you’re pursuing an associate’s, bachelor’s, or master’s degree, understanding the accounting degree requirements can help you prepare for a successful career.
This guide outlines the education, coursework, skills, certifications, and career opportunities for individuals interested in earning an accounting degree.
What Is an Accounting Degree?
An accounting degree provides the knowledge and technical skills needed to manage financial transactions, prepare financial reports, analyze budgets, and ensure compliance with tax and regulatory laws.
Types of Accounting Degrees
There are different levels of accounting degrees, each with specific requirements and career prospects:
- Associate’s Degree in Accounting – Entry-level degree (2 years).
- Bachelor’s Degree in Accounting – Standard degree for accountants (4 years).
- Master’s Degree in Accounting (MAcc) – Advanced degree for CPA candidates and leadership roles (1-2 years).
- MBA in Accounting – Business-focused graduate degree with accounting specialization.
- Doctorate (Ph.D.) in Accounting – Research and academic-focused degree.
Education Requirements for an Accounting Degree
1. General Admission Requirements
To enroll in an accounting degree program, most universities require:
✔ A high school diploma or GED.
✔ SAT/ACT scores (varies by school).
✔ Letters of recommendation (for competitive programs).
✔ Personal statement or essay (optional but beneficial).
For graduate programs, additional requirements may include:
✔ A bachelor’s degree in accounting or finance (for master’s programs).
✔ GMAT/GRE scores (some programs waive this requirement).
✔ Work experience in accounting or finance (preferred for MBA programs).
2. Core Coursework for an Accounting Degree
The coursework for an accounting degree varies by program level but typically includes:
✔ Financial Accounting – Recording transactions, preparing financial statements.
✔ Managerial Accounting – Internal budgeting, cost analysis, and financial planning.
✔ Auditing – Principles of financial audits and risk management.
✔ Taxation – Federal and state tax laws, corporate and individual tax filing.
✔ Accounting Information Systems – Technology in financial reporting and bookkeeping.
✔ Business Law & Ethics – Legal regulations and professional ethics in accounting.
✔ Economics & Finance – Understanding market structures, investments, and financial management.
For master’s programs, additional advanced coursework may include:
✔ Advanced Auditing & Forensic Accounting – Fraud detection and compliance.
✔ International Accounting Standards – IFRS and global financial reporting.
✔ Strategic Financial Management – Corporate decision-making and investment analysis.
Skills Required for an Accounting Degree
A successful accounting student must develop a combination of technical, analytical, and business communication skills:
✔ Mathematical & Analytical Thinking – Working with numbers and data analysis.
✔ Attention to Detail – Ensuring financial accuracy and compliance.
✔ Excel & Accounting Software Proficiency – Using QuickBooks, SAP, and financial modeling tools.
✔ Problem-Solving & Critical Thinking – Identifying and resolving financial discrepancies.
✔ Time Management & Organization – Handling multiple financial reports and deadlines.
✔ Ethical Judgment – Understanding and applying accounting regulations and ethics.
Certifications After an Accounting Degree
Many accounting careers require or benefit from professional certifications. Common certifications after earning an accounting degree include:
✔ Certified Public Accountant (CPA) – The most recognized accounting credential, required for auditors and public accountants.
✔ Certified Management Accountant (CMA) – Specializes in corporate finance and strategic management.
✔ Chartered Financial Analyst (CFA) – Ideal for investment and financial analysis roles.
✔ Certified Internal Auditor (CIA) – Focuses on risk management and internal auditing.
✔ Enrolled Agent (EA) – Specializes in taxation and IRS representation.
Accounting Degree Requirements by Degree Level
1. Associate’s Degree in Accounting (2 years)
Requirements:
✔ High school diploma or GED
✔ Basic coursework in accounting principles
✔ 60-70 credit hours
Career Opportunities:
✔ Bookkeeper
✔ Accounts Payable/Receivable Clerk
✔ Payroll Assistant
2. Bachelor’s Degree in Accounting (4 years)
Requirements:
✔ Completion of general education courses
✔ 120-130 credit hours, including core accounting courses
✔ Internship (recommended but not always required)
Career Opportunities:
✔ Staff Accountant
✔ Financial Analyst
✔ Auditor
✔ Tax Accountant
3. Master’s Degree in Accounting (MAcc) (1-2 years)
Requirements:
✔ Bachelor’s degree in accounting or finance
✔ 30-45 additional credit hours
✔ CPA exam preparation coursework (optional)
Career Opportunities:
✔ Senior Accountant
✔ Forensic Accountant
✔ Corporate Finance Manager
4. MBA in Accounting (1-2 years)
Requirements:
✔ Bachelor’s degree in business, finance, or accounting
✔ GMAT/GRE (some programs waive this requirement)
Career Opportunities:
✔ Accounting Manager
✔ Financial Controller
✔ CFO (Chief Financial Officer)
5. Ph.D. in Accounting (3-6 years)
Requirements:
✔ Master’s degree in accounting or related field
✔ Research thesis and dissertation
Career Opportunities:
✔ University Professor
✔ Accounting Researcher
✔ Senior Policy Analyst
Salary Expectations with an Accounting Degree
The earning potential for accounting degree holders varies based on education level, certifications, and experience.
| Degree Level | Average Salary | Potential Careers |
|---|---|---|
| Associate’s Degree | $40,000 – $55,000 | Bookkeeper, Accounting Clerk |
| Bachelor’s Degree | $55,000 – $75,000 | Staff Accountant, Auditor |
| Master’s Degree | $75,000 – $100,000 | Senior Accountant, Tax Consultant |
| CPA Certification | $80,000 – $120,000 | Certified Public Accountant |
| MBA in Accounting | $90,000 – $150,000 | CFO, Finance Director |
Career Opportunities with an Accounting Degree
✔ Public Accounting – Work in auditing, tax services, and consulting.
✔ Corporate Finance – Manage budgets, forecasts, and financial planning.
✔ Government & Nonprofits – Oversee fund accounting and tax compliance.
✔ Forensic Accounting – Investigate fraud and financial crimes.
✔ Investment & Financial Analysis – Work in banking, asset management, and risk assessment.
How to Prepare for an Accounting Degree
✔ Develop Strong Math & Analytical Skills – Take high school or college-level math courses.
✔ Gain Experience with Accounting Software – Learn QuickBooks, Excel, SAP, and Xero.
✔ Consider an Internship – Many firms offer entry-level opportunities to gain experience.
✔ Stay Updated on Financial Regulations – Follow GAAP, IFRS, and tax laws.
Final Thoughts
Earning an accounting degree opens the door to numerous career opportunities in finance, auditing, corporate accounting, and taxation. Whether pursuing an associate’s, bachelor’s, master’s, or CPA certification, understanding the accounting degree requirements will help you choose the right path for your career goals.
With strong technical skills, certifications, and experience, accounting professionals can achieve high-paying and leadership roles in finance.
