If you have a special interest in accounting but also want to expand your business management skills, then a dual-degree program that allows you to earn the Master of Business Administration and a Master of Science in Accounting could be the right choice for you. This type of dual-degree program will include coursework that spans different accounting topics and general business concepts. In this article, we will explore some common core coursework of dual MBA and MS in Accounting degree programs as well as some of the common entrance requirements.
Common Coursework for Dual MBA/MS in Accounting Programs
Each dual MBA and MS in Accounting degree program will have its own unique set of coursework; however, there are some common classes that you could take, some of which we will discuss in-depth below.
Managing People, Teams and Organizations
First up, you may be required to take a course that explores different management and human resources concepts and theories. The aim of this course is to teach you the necessary skills you need in order to manage groups and individuals. Some classes of this type will teach you how to understand human and workplace behavior and how to influence it. You might also study concepts related to corporate culture or examine specific case studies and models centered on management skills.
International accounting is a course that solely focuses on accounting theories and practices as they relate to international and multinational corporations. In this class, you will usually study different accounting issues, such as foreign currency transactions, inflation, and financial statements. You might also examine international financial reporting standards and how different political and cultural factors influence accounting issues.
Federal Income Taxation
A course that examines advanced topics of federal income tax will also most likely make up your dual-degree curriculum. This course will usually focus on federal income taxation principles that specifically relate to corporations and partnerships. Some taxation concepts you could study include tax accounting methods, property transactions, deductions, and cost recovery. You could also look at special problems in the field that relate to liquidations and reorganizations.
Another course you may take in your dual program is that of strategic decision-making, which is a class that broadly covers topics related to strategic development and management. In this kind of course, you may learn about how to use different analysis tools to develop a business plan, assess the competitive marketplace, and understand outside factors, such as economics and politics, in order to build an overall, successful business strategy. Some of these courses will also study the way a business's structure and leaders affect decision-making.
Business law can be a wide-ranging course that covers the ways that business world interacts with and coincides with the legal world. Possible topics of a course of this kind include contract law, bankruptcy, wills and trusts, and accounting liability. You might also cover commercial transactions, including the sale of goods and secured transactions. Some courses of this type will also weave the area of professional ethics in regards to accounting and how best to deal with ethical dilemmas in the field.
Governmental and Non-Profit Accounting
In a course on governmental and non-profit accounting, you will study various accounting principles that affect financial reports and transactions of state, federal and local governments as well as other organizations, including health-care or educational groups. You will most likely cover topics related to the budgeting process, recording systems, and the accounting cycle in the context of these specific organizations. Some classes of this type will also look at current issues in governmental accounting.
Common Entrance Requirements
Along with common coursework requirements, dual MBA and MS in Accounting programs will have some common entrance requirements. When applying, you will need to submit transcripts, letters of recommendation, a statement of purpose, and a resume. You will need to have already earned a bachelor's degree as well. A dual-degree program of this type will also usually require that you submit GMAT scores; however, some programs may allow you to submit GRE scores instead. While the minimum score required on the GMAT will vary by program, you will usually need around a score of 500-550 or above.
The curriculum for dual MBA and MS in Accounting degree programs will include some common core courses in accounting, taxation, and business management. To enter a program of this type, you will need to meet certain requirements that include a minimum GMAT score and already holding a bachelor's degree.