Top Three Master of Accounting Degree Programs

According to the Bureau of Labor Statistics, the average accountant or auditor makes an annual salary of $54,630. The top 10% make over $90,000. The field of accounting is growing, and accounting graduates have their pick of jobs.

Most auditors and accountants have a CPA license-certified public accountant. In the past few years, the requirements to get a CPA license in most states changed to five years of school instead of four. The best way to get this fifth year is to get a Masters degree in Accounting.

Based on rankings from the US News & World Report and the annual Public Accounting Report, the top three masters programs in accounting are the University of Texas at Austin, the University of Michigan at Ann Arbor, and the University of Illinois at Urbana-Champaign.

Most Masters of Accounting programs offer a choice between specializing in Tax or Audit. Sometimes they offer more choices. If you are still deciding, try reading my articles about Tax Accounting and Audit Accounting.

University of Texas, Austin - McCombs School of Business

The University of Texas at Austin is ranked number one among accounting graduate programs. The McCombs School of Business offers an MPA degree-a Masters in Professional Accounting.

The information from the University of Texas website shows that the accounting masters is a year long program. If the student did not study accounting as an undergraduate, they will have to take an additional term of prerequisite courses.

The McCombs accounting program offers four tracks. Accounting graduate students can focus on Financial Reporting and Assurance, Tax, Managerial Accounting and Control, or choose the Generalist track which allows them to pick and choose from all class options.

The financial reporting track is for students interested in a career in public accounting, industry, or a not-for-profit organization. The managerial track is recommended for students interested in working in industry and government positions.

The University of Texas is a public university, but their tuition costs are significant. For an in-state student, the tuition each semester is $6,706, while the tuition for out-of-state students is $15,108.

University of Michigan, Ann Arbor - Stephen M. Ross School of Business

The Univeristy of Michigan offers a 10-month MAcc (Master's of Accounting) Program. The curriculum includes a fall, winter and spring term.

The fall and winter terms cover core courses and electives. The only course for the spring term is a graduate research seminar in Accounting.

The University of Michigan also has a law school, and their MAcc students seem to be encouraged to take tax law courses. If you are interested in specializing in tax accounting, this is a good school for you to consider.

Tuition for the Masters of Accounting program is a hefty $38,289 for in-state students and $48,289 for out-of-state students. Even with a well-paying job right after graduation, that will be a big loan to pay off.

University of Illinois, Urbana Champaign

At the University of Illinois, you can earn an MSA-a Master of Science in Accounting. Their traditional track is intended for students who have a BBA, but did not focus on accounting for their undergraduate degree.

They also offer an MAS program-Masters of Accounting Science-for students who studied accounting for their undergraduate degree.

The MSA program consists of 12 months and 32 hours of courses. Their program core is made up of five classes that focus on US accounting standards. Some of these courses can be exempted if you covered them during your undergraduate studies.

The MAS program has three tracks. Students can specialize in Finance, Information Technology, or Taxation.

Tuition for the MAS program will come to $20,000 for residents and $25,048 for non-residents. The MSA program is more expensive, since it contains an extra semester. The total MSA tuition is $30,000.