New Opportunities Open for the Graduate with an Online MBA in Accounting

May 22nd, 2008 • Filed Under

The field of accounting is wide open for the online MBA graduate as well as those with a bachelor’s degree in accounting. In fact, the outlook is very bright now and the future because of the demand for more accountants. The Bureau of Labor Statistics reports that this career will grow faster than average through the year 2016. And this is where an online MBA in accounting will position you just right to take advantage of this opportunity.

This career field is one of the few left in the United States that is minimally subjected to offshore outsourcing. This fact alone makes your online MBA in accounting attractive because you are relatively certain to make a good salary and have a degree of job security with it. Let’s look further as to why this degree is becoming more popular than ever before and what you can expect in a curriculum.

Your online MBA in accounting curriculum will advance the skills learned in your bachelor’s program. In a typical online MBA in accounting program, subjects covered will include basics and principles of accounting, financial reporting, and taxation. However, now these subjects will be covered from a management perspective.

More opportunities have been created because of the Sarbanes-Oxley Act. The Sarbanes-Oxley Act was passed in 2002 by the U.S. Government and it mandates that corporations be accurate in their financial reports to investors or face criminal penalties. This act was in response to the various corporate fraudulent reporting incidents that caused investors and corporate employees to lose millions. The bottom line is that it mandates new standards in auditing thus creating the need for more accountants and auditors. The Act also holds the chief executive officer of a corporation personally liable for any financial fraud.

You can prepare to earn your CPA credential with your online MBA in accounting. CPA stands for Certified Public Accountant and it is a mandatory credential required by the Securities and Exchange Commission if the accountant is to file a report with them. Recently many states changed the requirement for the minimum number of credit hours to be able to apply to sit for the CPA exam. Now, most states require at least 150 hours of college along with a specific minimum number of hours in accounting. You can meet that 150-hour requirement by getting into an online MBA in accounting program since it will go beyond the 120 hours normally required for a bachelor’s degree.

Graduates with an online MBA in accounting have opportunities in law enforcement and the Federal Government. The FBI hires accountants to help with its investigations of white-collar crime, money laundering, illegal wire transfers, public corruption and bribery. In order to enforce laws, one has to understand the technical nature of the methods employed and the graduate with an online MBA in accounting is equipped to do just that. The Internal Revenue Services also makes extensive use of accountants to make sure that taxpayers pay what is owed in taxes.

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