Interested in becoming a Certified Public Accountant (CPA)? You have a few educational options to pursue this career, but a Master of Business Administration (MBA) in Accounting should be at the top of your list.
Today’s business climate demands more of a well-rounded business education than ever since CPAs work closely with multiple business departments. In addition, advances in information systems and analytics technologies enable the automation of repetitive accounting tasks, freeing up time for advanced accountants to take on more strategic roles that require a broader understanding of cross-functional business management. This is the kind of knowledge- and skill-development provided by an online accounting MBA program like the University of South Carolina Aiken’s.
A CPA coupled with an MBA opens doors to high-level positions, including controller and manager. The designation and degree combination also serves to maximize earnings potential in these and other leadership positions. An additional benefit of the accounting-focused MBA is the opportunity to complete the graduate-level coursework required for CPA certification while earning the MBA.
What Is a CPA?
CPAs work with individual and business clients, providing guidance in financial and taxation matters. A CPA has higher standing than an accountant in the esteem of clients due to the extensive training required to obtain certification. CPAs are also held to a more stringent code of professional conduct and ethics than accountants without the designation. Because today’s CPAs typically have substantial business school training, they have become strategic business advisers and decision-makers within corporate structures.
Certification Requirements
Though each state has its own certification requirements, public accountants are typically required to complete 150 semester hours of postsecondary training, including graduate-level coursework. Crossing this threshold prepares an accountant to sit for and pass the Uniform CPA Exam.
Most states also require a substantial amount of work experience for CPA certification. In an online accounting MBA program, students can continue working while completing their degree, meaning they can satisfy a portion of their CPA field experience requirements and educational requirements concurrently.
Once an accountant has passed the CPA exam and met all other state requirements, they can apply for CPA certification in their state. After receiving the designation, CPAs must maintain certification by regularly satisfying continuing education requirements.
As a note, the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) are in the process of rolling out the CPA Evolution initiative. According to the two organizations, this initiative is “transforming the CPA licensure model to recognize the rapidly changing skills and competencies the practice of accounting requires today and will require in the future.” A corresponding new Uniform CPA Exam will be launched in 2024, reflecting the growing importance of accounting and analytics technologies and the shifting specialized roles of modern accountants.
The Path to Becoming a CPA
Aspiring CPAs usually accrue 120 of the required hours through a bachelor’s degree program and then 30 more in a master’s degree program. While a graduate degree is not required for a CPA license, it does enable students to meet the credit hour requirements. Students can complete a general MBA, a Master of Science in Accounting, a Master of Arts in Accounting or an MBA in accounting.
In many states, educational requirements for CPA certification specify that applicants must complete a certain amount of coursework in advanced accounting and business subjects. The specialized courses offered in an accounting MBA program can help satisfy these requirements.
The MBA option enables the accounting professional to learn the language of business, close communication gaps between finance and other areas of leadership and become a stronger player in areas of business strategy. Many MBA programs, including the University of South Carolina Aiken’s online MBA in Accounting, do not test for prerequisite accounting knowledge or require candidates to have completed specific coursework in accounting as an admissions requirement, although previous work experience may be required.
Master of Science and Master of Arts programs in Accounting commonly have varying levels of accounting knowledge and education expectations for candidates. Both programs typically require a bachelor’s degree from an accredited university.
The field of accounting presents many rewarding opportunities for CPAs. If your priorities include the most efficient and cost-effective route to earning your certification while maximizing your prospects for working with corporations or high-value clients, an MBA is your next step toward becoming a CPA.
Learn more about the USC Aiken online MBA in Accounting program.
