Online Master’s in Accounting MS Degree Aligned with the 2024 CPA Exam

The 2024 CPA Exam update is the result of a complete reimagining. The core exam sheds new light on core accounting fundamentals, like auditing and taxation, and includes an increased emphasis on technology throughout.

For the first time, the exam will also allow candidates to choose 1 of 3 discipline areas in which to demonstrate greater knowledge and specialize:

• Business Analysis and Reporting (BAR)
• Information Systems and Controls (ISC)
• Tax Compliance and Planning (TCP)

The new exam could reshape the field as it requires students to demonstrate their understanding of data analysis and research — a shift in the traditional narrative of the accounting role. SNHU's redeveloped MS in Accounting program takes into account these changes in the industry to prepare students for these new expectations.

Quite a lot, actually. Like many professions, accounting has become much more diverse, and while Certified Public Accountant (CPA) is one avenue, there are also many others.

Transparency in financial reporting has taken on far greater importance in the corporate world than it once had – and with it, the need for accounting professionals to help maintain that transparency.

Intrigued? You might consider specializing in auditing. Along with improving financial reporting, many auditors serve the critical function of helping companies develop growth strategies based on long-term goals.

As businesses strive to compete in a global marketplace, accounting plays a broader strategic role in general. Master’s degree candidates who specialize in management accounting improve their odds of becoming the kind of strategic partner who can help guide the management of internal resources at every level, help executives make decisions and improve overall business performance.

And then there are accountants whose passion for numbers is rivaled only by their passion for digging into them. With a concentration in forensic accounting, you’ll apply those innate critical thinking skills to complex financial transactions like mergers and acquisitions, bankruptcies and contract disputes. Is criminology your thing? You’ll learn to investigate corporate fraud too.

In addition to these career directions, a few equally good alternatives include financial examiner, financial analyst, finance manager, comptroller, CFO, budget analyst or business and financial consultant.

While both enhance your skills and advancement potential, one focuses on depth of knowledge, the other on breadth. The MS in Accounting deepens your accounting expertise. The MBA in Accounting broadens your business acumen.

An on-campus or online MBA program is for students "who want to move into higher levels of management that require more overall business skills and fewer accounting skills,” according to Mona Stephens, an accounting faculty lead at SNHU – but that's not the program's only audience, she said. As professionals advance their careers, it's vital to develop a better understanding of skills like accounting: By undertaking a more holistic approach to business, you can build better organizational strategies and make financially sound decisions.

Courses in the master’s in accounting dig into more complex accounting topics and foster critical thinking of accounting theory and practice. Stephens says this degree makes sense “for accountants who want to expand their accounting knowledge and perhaps specialize in a certain type of accounting, like management accounting or taxation.”

The MS in Accounting program is an ideal stepping stone for anyone who wants to teach accounting. It's also well suited to those who would like to take either the Certified Public Accountant (CPA) Exam or Certified Management Accountant (CMA) Exam.

Because the CPA Exam requires 150 hours of education for eligibility in most states, an MS in Accounting is often the best path. Even better? SNHU offers graduate certificates that align with the exam's three new discipline areas, so you can be even better prepared.

Similarly, SNHU offers a Management Accounting Graduate Certificate for those who want to specialize their skill set before taking the CMA Exam.

A Certified Public Accountant (CPA) is an accounting professional who has passed the CPA Exam. They’ve also fulfilled all the education and work experience requirements to become a licensed CPA within the state where they intend to work.

You can work as an accountant without becoming a CPA, but it's widely considered the industry-standard designation of quality and trust. For non-CPA candidates with an accounting degree, the U.S. Bureau of Labor Statistics recommends these positions¹:

• Management accountant
• Government accountant
• Internal auditor
• External auditor
• IT auditor

The CPA credential gives you the experience and expertise to perform functions a non-certified accountant can’t do, such as audits, reviews and taxation services.

Non-certified accountants are not allowed to audit public companies, issue audit reports or opinion letters or review public company financial statements for the SEC. And only a CPA can sign a client’s tax return as a paid preparer and represent the client in front of the IRS.

Yes, you can. Certified Public Accountants (CPAs) are accountants who have passed the official CPA Exam, which requires them to have minimum education and work experience.

You can work as an accountant without becoming a CPA. For non-CPA candidates with an accounting degree, the U.S. Bureau of Labor Statistics recommends these positions¹:

• Management accountant
• Government accountant
• Internal auditor
• External auditor
• IT auditor

No — a master's in accounting is not equivalent to a Certified Public Accountant (CPA) license.

Put simply, they are different credentials. An MS in Accounting is a degree granted by an accredited university once you successfully graduate. A CPA license, on the other hand, is a certification administered by the American Institute of Certified Public Accountants (AICPA) once you meet specific education, experience and exam requirements.

Which credential you choose to earn depends greatly on the career you want to pursue. If you want to advance in public accounting, a CPA license is key. If you want to become an industry accountant, a CPA license may not be necessary.

That being said, many accountants choose to pursue both an MS in Accounting and a CPA license, since they are complementary credentials and can help you stand out in a competitive job market.