General Information About Accounting Degree Programs
Accounting is the study of measuring, analyzing and interpreting financial activity by providing assurance of financial information, as well as compiling and preparing financial records. Managers, tax authorities and investors within organizations, companies and public agencies, such as the government, use this information to allocate resources. Another way to look at accounting is as “the language of business,” communicating and expressing financial practices that shape groups, which makes it more than just crunching numbers.
Those who want to pursue a degree in accounting should express an interest in business and finance. Accountants can study in several fields, focusing on four areas: management accounting, public accounting, government accounting or internal auditing.
Accounting Degree Study Options
Students in the field of accounting can major in business, with a minor or emphasis in accounting, or major in accounting and apply for jobs later in that field. The best way is at an accredited university in a four-year degree program, where students will earn a Bachelor of Sciences in Accounting that will qualify them for an entry-level position in nearly every field of accountancy.
Earning An Accounting Degree Online
Another option is to go through an online education program, especially if students live in a remote location or have a very busy schedule. Always check with Association to Advance Collegiate Schools of Business that the program and school you are looking at is accredited. Also, look into community colleges where you can earn or work towards earning an associate’s degree in accounting and transferring into a four-year college or university.
Master Of Science And Doctorate In Accounting
A Master of Science (M.S.) degree in Accounting generally takes a full year to complete. A Ph.D. in Accounting, which takes about four years to finish, involves studying accounting theory and research techniques, as well as teaching fundamentals. Each degree requires coursework and a thesis, depending on the individual program. Other degree options offer a variation on accounting, such as a Ph.D. in Business Management with an emphasis in accounting.
Master Of Business Administration In Accounting
Those who want to further their education can attend business school and earn a Master's of Business Administration with a strong focus in accounting or MBA in Professional Accounting. These programs incorporate business management skills with accounting theory and practice and usually offer a broader range of topics, ensuring a less specialized field of study. In order to earn an MBA, you will need to have a degree in a business-related field like accounting and take the Graduate Management Admissions Test, or GMAT to apply for business school.
Choosing A Focus In Accounting
Specialization is very important to accounting, with several major areas of study. Forensic accounting analyzes documents and establishes evidence of criminal activity, such as tax evasion or fraud. Management accounting deals with providing managers in organization with accounting information so they can make an informed business decision. Financial accounting involves preparing financial statements for people outside of the organization, such as suppliers, banks, stockholders and the government. Choosing a focus will help students find the career path as an accountant and help them determine if they need to take any kind of certification exam.
Accounting And Bookkeeping Certification
Accounting and bookkeeping certificate programs prepare accountants to work in practically any corporation, business or organization in an entry-level position. Students learn about journals and ledgers, preparing payroll documents, the theory of double entry and reconciling banking statements.
Graduating from an accounting and bookkeeping certificate program means you have learned theoretical and practical applications of recordkeeping and accounting systems for business, along with maintaining financial records of expenditures, profit and loss and payables and receivables. You will also become familiar with computer programs like database software and spreadsheets to help keep track of bookkeeping and accounting operations. Having the certification gives you an employable edge, besides learning and practicing the same skills you will need on the job.
Certified Public Accountants
Certified Public Accountants (CPA) offer general services ranging from corporations to private individuals, advising on financial plans and investments. Other responsibilities could include preparing financial reports like personal tax returns or checking up on people’s tax returns for the IRS.
In order to become a CPA, those with a degree in accounting need to take the CPA exam, designed and graded by the American Institute of Certified Public Accountants, as well as a separate exam on ethics. Only licensed CPAs can provide opinions on financial statements, including auditing, in most U.S. states. While CPAs often serve as business consultants to the public and corporations or associations, they also provide services such as assurance, financial accounting, merger & acquisition, financial planning and analysis, tax preparation and more.
Other Certifications For Accountants
Certified Management Accountants (CMA) and Certified Internal Auditor (CIA) exams differ in their legal status and the kind of services they provide. CMAs work with accounting management while CIAs focus on internal auditing. Both certifications require passing arduous, four-part exams. Accredited Business Accountants (ABA) specialize in small to mid-sized businesses and must take an eight-hour comprehensive exam testing financial accounting, reporting, statement preparation, taxation and business law.
Coursework In Accounting
Most accountants specialize in one area, but general accounting education covers all of them so students can get a better idea of what kind of work they would want to concentrate in later. No matter where students earn an accounting degree, they will need to put in a great deal of time and effort learning the material.
All accounting students will need to take specific courses, such as accounting basics, information systems, managerial accounting, economics, financial reporting, forensic accounting, payroll administration and cost accounting. Other possible coursework includes international business, regression analysis, forecasting, tax law, business law for accounting, income taxation, financial statements, mergers and acquisitions, compensation and bankruptcy.
Career Opportunities In Accounting
Accountants have a wide range of occupations to choose from, whether it is in a specialized field of accountancy or in a general area of business. Loan officers, bank officers, underwriters, tax collectors and actuaries are all well-paying jobs. Other careers include FBI agents, commodities traders, IRS investigators, securities brokers or chief financial officers.
Some careers need further education in a different field. For example, tax lawyers need to attend law school and earn a Juris Doctor (J.D.) before they can practice. FBI agents need to pass numerous tests and a rigorous training process. Depending on the career, accounting graduates will need to go through more schooling or testing.
Earning Potential For Accounting Careers
Nearly every entity needs some form of accounting, whether it is non-profit, government, corporate or individual, accounting is a field with a steady growth rate and a positive job outlook. Accountants, particularly a CPA or those with a M.B.A., can earn up to $100,000. Most entry-level positions start anywhere from $30,000 to $40,000, while the median salary for an accountant is $47,000.
Students studying accounting will need to know mathematics, methodology and have an acute attention to detail, along with theoretical and practical applications of accounting principles. Accounting students will also need to use research tools, computer programs and their own study skills to excel in this business and finance driven field.
Accounting Books
Students will be required to study several texts to learn how to apply their accounting knowledge in practice. Many of these books include problems to solve, like "College Accounting" by Jeffrey Slater, "Management Accounting" by Anthony A. Atkinson and Robert S. Kaplan and "Accounting Information Systems" by Marshall B. Romney and Paul John Steinbart. Search your school’s bookstore or library catalog to find these, or search for specific accounting books on the web.
Accounting Research
Accounting students may have to research outside sources, such as periodicals, trade journals and articles for coursework. Earning an accounting degree from a university means access to library databases, such as LexisNexis Academic, Factiva and Academic Search Premier, or EBSCO. Find free access to the Wall Street Journal, the New York Times and other major newspapers, as well as other publications.
Accounting Resources
Business > Accounting
Accounting Course Page Exchange - (dead link)
Undergraduate, graduate and doctorial course pages. Also provides online resources for courses.
Accounting Dictionary
"The Web's most complete accounting dictionary of accounting terms: http://www.ventureline.com/glossary.asp"
Accounting Education
Information for academic accountants such as, news, reviews, jobs, events, journals, library and links to other resources.
Accounting Firms and Employment
Information on the big five accounting firms, directories, association of firms and employment
The Accounting Page
Contains links to accounting web sites, firms, organizations, software, jobs and educational sites.
Accounting Regulatory Bodies.
Listing of national and international organizations and state CPA Societies.
Accounting Resources - (dead link)
"This page was developed for CPE workshops for local CPA chapters, for demonstrations for professional accountants in general, and as an academic resource for accounting students. The Internet resources cited and linked herein are but a very small sample of those available. We have attempted to represent a wide variety of topical matter of interest to the accounting profession. No reference is intended as an endorsement or verification of the content validity...This page was created by Richard L. Hannah, PH.D., CEBS, rlhannah@frank.mtsu.edu and Watson Hannah, CPA, CEBS. Both are currently employed as faculty at Middle Tennessee State University."
Accounting Resources - (dead link)
Provides resources for accounting , auditing, finance, government and taxes. Includes links for accounting students.
Accounting Terminology Guide
"The New York State Society of CPAs (NYSSCPA) General Committee on Public Relations has prepared this glossary as an educational tool for journalists who report on and interpret financial information.
AccountingWeb
A well designed portal for the professional community.
Free registration required for full access - some resources need paid subscription.
AcctInfoPlus - (dead link)
Maintained primarily for the benefit of accounting students, accounting academics and the professional accounting community. Provides a comprehensive listing of relevant information sources.
ANet - (dead link)
Part of the International Accounting Network which provides a forum for the discussion of accounting, auditing and related disciplines.
Auditnet
."... The Internet is a viable tool for auditors who know how to locate and tap into the various resources. This site represents the on-ramp to online audit resources...".
Between the Sheets - Accounting - (dead link)
"In this section we look at the use of spreadsheets in Accounting. There is help and advice on using spreadsheets and a variety of downloadable spreadsheets on various topics."
From biz/ed
Book-keeping and Accounting Interactive Tutor - (dead link)
"Students of Book-keeping / Accounting at any level (from RSA up to first-year degree) should benefit from attempting these exercises. But be sure to check your course syllabus for relevance first. The exercises are interactive and you can ask for hints, mark your work or ask for an explanation after you have answered."
From biz/ed
A Brief Explanation of Accounting
Basic description of accounting and links to other accounting resources.
CGA Student Email Study Groups - (dead link)
"...this site is intended to help students share and clarify their technical understanding of topical areas within their course of study while promoting the value of independent distance education."
Cost Technologies for Competitive Advantage
Provides information on many areas associated with cost analysis such as, value engineering, theoretical cost analysis, function cost analysis, design for cost and many other costing disciplines.
CPA Net
"CPAnet is a website resource to help accountants interact in an online community, find resourceful websites tailored to their needs, utilize the Internet to gain new business, improve the quality of client service and conduct efficient and effective research..."
ONLINE PROGRAMS: Associate Degree Programs - Accounting Technology ; Health Information Technology | Bachelor's Degree Programs - Business Administration ; Information Technology ; Technical Management ; Computer Information Systems
Institute of Chartered Accountants in England and Wales
Includes a wonderful collection of links selected by the library
Internal Revenue Service - (dead link)
The official IRS site. Has everything for taxes plus a little more.
Northern California Association of Law Libraries - (dead link)
Lists accounting specialized resources and general indices.
Professional Examinations
Provides links for information about becoming a Certified Public Accountant, Certified Internal Auditor, Certified Management Accountant or Continuing Professional Education.
Professors on the Internet
Listing of professors who have internet sites. Some provide online accounting materials.
Pro2Net-Accounting
Contains resource library, industry research, periodicals and professional education.
Rutgers Accounting Web's Prentice Hall's Accounting Resources on the Internet - (dead link) "...a guide to Internet resources for academics, students, and professionals."
By Hui Du, Rutgers Accounting Research Center, Rutgers University
School of Accounting - (dead link)
Lists some of the many organizations and resources available for accounting.
Tax and Accounting Sites Directory
"...a comprehensive index of Internet resources. It is designed to be a starting point for people who are searching the World Wide Web for tax and accounting information and services."
Maintained by Dennis Schmidt
__________
World Lecture Hall - (dead link)
Contains many accounting subjects. Lists syllabus, lecture notes and links to related materials according to subject matter.
WorldWideWeb Tax
"Here youíll find IRS forms, IRS instructions, IRS publications, IRS tables, IRS rate schedules, IRS charts, IRS worksheets, and answers to practically every IRS and tax question imaginable in our Master Index of IRS and tax topics."
Reference Desk
Annuity Comparison Calculator - (dead link)
Accounting Journals - (dead link)
College Planning Calculato - (dead link)r
Equivalent Yield Calculator - (dead link)
Hasselback's On-line Accounting Faculty Directory
HotJobs.com - Accounting/Finance Channel
Income Calculator - (dead link)
The Knowledge Guide to the Euro - (dead link)
Sections include: Euro Implementation ; Euro Links ; Euro Data.
By The Library and Information Service, The Institute of Chartered Accountants
U.S. Department of the Treasury
- IRS : Digital Daily - (dead link) "Income Tax Forms, Instructions, Publications, Regulations, and other stuff."
- IRS : Forms and Publications - (dead link)
Digital Library
The Emanuel Saxe Distinguished Lectures in Accounting
Newman Library, Digital Collections, Baruch College of the City University of New York
Financial Accounting Standards Board - (dead link)
- Business Combinations Project Summary - (dead link) Including goodwill decisions
Institute of Chartered Accountants in England and Wales (ICAEW)
- ICAEW Directory of Firms on the World Wide Web
"...this FREE service allows you to search the official ICAEW database of over 25,000 Chartered Accountant firms worldwide."
International Accounting Standards Board
- Summaries of International Accounting Standards
"The official full text of the Standards is available only by purchasing the annual Bound Volume or subscribing to IAS on CD-ROM. The following unofficial summaries are, by their nature, incomplete."
Monthly Tax and Business News - (dead link)
"Quit Whispers ... Men Accounting for Women, West to East" - (dead link)
Essay by Cheryl R. Leman, Dept. of Accounting, Zarb School of Business, Hofstra University
U.S. Department of the Treasury
- IRS : Digital Daily - (dead link) "Income Tax Forms, Instructions, Publications, Regulations, and other stuff."
- IRS : Forms and Publications - (dead link)
Organizations
American Accounting Association - (dead link)
Educational Foundation for Women in Accounting
Federal Accounting Standards Advisory Board - (dead link)
Financial Accounting Standards Board - (dead link)
Institute of Chartered Accountants in England and Wales
More Resources
Created by librarian Mike Madin
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