While earning a MAcc with a concentration in financial management, students gain an in-depth grasp of accounting principles and leadership techniques beneficial for understanding and communicating the needs of businesses and organizations. These programs often include internships and other hands-on opportunities. Other concentration options in MAcc programs include auditing systems and taxation.
Applicants must have a bachelor's degree, preferably in accounting, to apply, though some schools allow students to overlap undergraduate and graduate education to earn both degrees in a shorter time period. Prospective students must also submit GRE scores.
Master of Accountancy
Accountants and financial managers evaluate and oversee the balancing and spending of funds for businesses. MAcc programs prepare students by addressing general accounting concepts and refreshing students' knowledge of spending strategies, taxation and auditing. Students who choose a financial management concentration then delve into more complex realms of financial management, such as forensic accounting and international financial reporting. Leadership strategies and organizational theories are emphasized to enable graduates to manage general business situations in addition to those centered on accounting practices.
A typical curriculum features course titles such as:
- Accounting systems
- Micro and macro economics
- Risk assessment and management
- Forensic accounting
- Financial statement analysis
- Business law
Popular Career Options
Once they've successfully completed a program, graduates are prepared to immediately pursue high-level employment in the financial management industry. Potential occupations include:
- Public accountant
- Financial analyst
Employment Outlook and Salary Information
Accountants and auditors could expect an average employment growth of 11% from 2014-2024, the U.S. Bureau of Labor Statistics (BLS) predicted. In 2015, these professionals earned a median annual salary of $67,190, the BLS stated.
Continuing Education and Certification
After finishing a master's degree program, students can choose to enroll in a doctoral program in accounting, where they'll conduct in-depth research regarding chosen aspects of accounting as they pursue advanced industry or academic careers.
Graduates who pursue public accounting careers can become Certified Public Accountants. According to the U.S. Bureau of Labor Statistics, a designation as a CPA is required for accountants who file reports with the Securities and Exchange Commission (www.bls.gov). To become a CPA, individuals need to complete 150 hours of coursework and take an exam.
By offering a comprehensive overview of accounting alongside more specific courses in financial management, MAcc programs with a concentration in financial management give students the expertise they need to pursue CPA licensure and high-level jobs in the accounting field.