Online Accounting Degrees 2020

Best Online Accounting Degrees 2020

A career in accounting can unlock a strong and stable career for you. According to the U.S. Bureau of Labor Statistics, the median salary for an accountant and auditor in 2019 was $71,550 per year. That’s not all: jobs in accounting are expected to grow at a rate of 6% by 2028, which is as fast as the average for other jobs.

Accountants are responsible for organizing and analyzing financial data and then sharing that information with other members of an organization, such as clients or an executive team. While technology has impacted the accounting industry, businesses are still actively looking for accountants who can think creatively and use their experience to come up with ways to reduce costs and streamline their budgets.

Most accountants start their degree with a bachelor’s in accounting or business administration with a focus on accounting, which prepares them with the knowledge and mindset they need to start a career in accounting. In addition, most senior jobs in accounting—especially those at larger firms—require a degree.

Online accounting degrees have grown in popularity over the last few years. These programs may cost you time and money, but they’ll train you in the skills you need to kickstart your career. Online programs have the added benefit of offering flexibility over your work—you can study from anywhere, and on your own schedule.

In this guide, we’re going to break down the top five online accounting bachelor’s degree programs. We’ll discuss the background of these programs, their tuition, and what you can expect from each program.

Online Accounting Degree Rankings in 2020

Choosing an online accounting degree to pursue is not easy. There are so many schools that offer online bachelor’s degrees in accounting, each of which has its own curriculum. To help you decide which program meets your needs, we’ve prepared a list of the top accounting degrees online for you to research in more depth.

#1: Regis University

• Degree: Bachelor of Science in Accounting
• Tuition: $530/credit
• Duration: 4 years
• Credit Requirement: 120 credits

Do you enjoy working your way through spreadsheets? If so, Regis University’s online Bachelor of Science in Accounting degree could be for you.

This program is designed to provide a strong foundation in accounting that you can apply to jobs in accounting and finance. You’ll learn about topics such as accounting ethics, forensic and fraud auditing, cost accounting, and accounting information systems.

To graduate from this program, you’ll need to complete a senior capstone project. This will allow you to explore a particular area of your studies in more depth. You’ll also be able to complete a minor within the school’s Anderson College of Business, or participate in a general elective if you don’t choose a minor.

#2: University of Massachusetts at Dartmouth

• Degree: Bachelor of Science in Accounting
• Tuition: $996/3-credit course
• Duration: 4 years
• Credit Requirement: 120 credits

The University of Massachusetts at Dartmouth offers an online degree in accounting. This degree will prepare students for careers in tax accounting, public accounting, government, auditing, and management accounting. 

You’ll learn how to apply accounting concepts, analyze financial statements, audit financials, and make informed financial decisions. This course covers topics such as cost accounting, auditing, taxation, and government and non-profit accounting.

As a student at the University of Massachusetts at Dartmouth, you’ll be eligible to receive free online and in-person tutoring to guide you through your degree. You’ll also be able to receive one-on-one personal advising from members of the school’s faculty.

#3: Colorado State University (Global Campus)

• Degree: Bachelor of Accounting
• Tuition: $350/credit
• Duration: 4 years
• Credit Requirement: 120 credits

Colorado State University’s (CSU) Global Campus offers an online Bachelor’s Degree in Accounting. In this course, you’ll learn about how to prepare, organize, analyze, and audit financial records, manage tax obligations, and find ways to reduce costs and improve a business’ bottom line.

In this degree, you’ll study topics such as principles of accounting, finance in the private sector, business law, and statistics. You’ll also be able to take a degree specialization in an area like public relations or fundraising to help round out your education. In addition, according to CSU, 90% of its alumni work in their respective fields of accounting after graduating.

#4: Washington State University (Global Campus)

• Degree: Bachelor of Arts in Business Administration, Accounting
• Tuition: $526/credit
• Duration: 4 years
• Credit Requirement: 120 credits

Washington State University (WSU) offers a Bachelor of Arts in Business Administration degree with an accounting major. This degree is a good fit for anyone who wants to learn about business management and who sees themselves working in a finance-related career.

The WSU curriculum provides a strong base of knowledge in accounting, management, and business, which will prepare you for a range of careers in technology. In your degree, you’ll study topics like taxation, auditing, financial management, and marketing.

You’ll also be required to participate in an international experience program. This will allow you to either study abroad or complete an international internship so that you can develop a broader understanding of accounting in the global marketplace.

#5: Penn State World Campus

• Degree: Bachelor of Science in Accounting
• Tuition: $576/credit (with 59 or fewer credits); $617/credit (with 60 or more credits)
• Duration: 4 years
• Credit Requirement: 120 credits

Pennsylvania State University offers a Bachelor of Science in Accounting through its World Campus online learning platform. This program is accredited by the AACSB, which is an honor only offered to the top 5% of business schools worldwide.

This program is designed to prepare you for the Certified Public Accountant (CPA) exam, or another financial certification. This means that when you graduate, you’ll have the knowledge you need to attain the certifications necessary to start a successful career in accounting.

You’ll complete courses in topics like finance, business law, marketing, and strategy to start your degree. Then, you’ll take more specific accounting courses related to your long-term career goals.

Penn State’s world campus offers online tutoring and career advising services which will help you study and prepare for your career. 

Bachelor’s in Accounting: What You Need to Know

Accounting degrees can offer you a wide range of options for your career. The most common path is to graduate from college and then pursue a career in accountancy, but you can also use your degree to position yourself for another role in finance.

The most common degree earned by accountants is a bachelor’s degree. This degree explores the field of accountancy in-depth, exploring areas from taxation to business law. There are more advanced programs available in accounting, but a bachelor’s degree is usually sufficient.

Let’s discuss some of the main things you should know about an online bachelor’s degree in accounting before you decide to enroll.

Educational Requirements for Online Accounting Degree 

Most online bachelor’s in accounting programs ask that you have a high school diploma or equivalent certificate to enroll. Some programs also ask students to take the SAT or ACT and will have their own minimum score that you will have to meet in order to be accepted. More competitive programs set minimum GPA requirements at around 3.0.

Although they are not required, having an associate’s degree is a good way to demonstrate to a college that you are ready for the rigor of an online accounting degree. It’s even better if you have studied accounting or business at the associate’s level. In addition, work experience, while usually not a requirement, can help you make your application appear more attractive to a college.

Online Accounting Degree Curriculum

In a bachelor’s of accounting program, you’ll study various disciplines within business, finance, and economics, which relate to accounting. You’ll also build up soft skills such as critical thinking and the ability to conduct research. This will help you build the mindset that you need to be a successful accountant.

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Here are the main components you can expect in an online accounting degree program:

• Taxation: In this part of the course, you’ll learn about taxation and how it relates to both individuals and businesses. You’ll learn about deductions, exemptions, taxable incomes, how to plan for tax, among other topics. 

• Ethics: Accountants are bound by a range of ethical responsibilities and best practices. This part of the course explores the rules and codes that you will have to follow if you pursue a career in accounting.

• Business Accounting: In this course, you’ll learn about how accounting is conducted in a business environment. This will involve learning about financial statements, business taxation requirements, and reporting disclosures.

• Financial Analysis: Financial analysis courses are focused on acquiring the ability to read and interpret financial statements. You’ll learn how to manage a budget for both an individual and a business, and help the latter achieve its goals through prudent financial management.

Many programs allow students to specialize within a certain area of accounting by taking an elective course or minoring in that area. For instance, you may be able to study taxation accounting, financial accounting, or government accounting as part of your degree.

In addition, the coursework you complete will depend on whether you are taking a Bachelor of Arts or Bachelor of Science degree. The former is focused on liberal arts and provides a more general education in addition to a deep-dive into accounting. The latter, on the other hand, involves more specialized and accounting-focused courses.

Where Can You Work With an Online Accounting Degree?

Having an online accounting degree positions you well for a wide range of careers. The most common path of progression after graduating from an online accounting degree is to work as an accountant or an auditor, but there are other professions you can explore.

Accountant

Accountants keep and inspect financial records. They ensure that a business or an individual’s financial records are accurate and complete. They are also responsible for making sure that all taxes are paid properly and on-time.

Some accountants work in-house for businesses to help them manage their finances; others work for accounting agencies, which consult for both individuals and companies.

The median salary in 2019 for an accountant and auditor was $71,550 per year, according to the Bureau of Labor Statistics (BLS). In addition, there were 1,424,000 people employed as an accountant in 2018, according to the same report.

Personal Financial Advisors

Financial advisors provide advice on investments, college savings, taxes, retirement, insurance, and other financial matters to individuals. They meet with clients to discuss their financial goals, educate clients on the financial services they can provide, and help individuals manage their money safely and efficiently.

Most personal financial advisors work either for an accounting agency or as an independent worker who manages their own clients.

In 2019, the median pay for a personal financial advisor was $87,850 per year, according to the BLS.

Financial Analyst

Financial analysts provide support to businesses and individuals who are making investment decisions. They analyze and monitor the performance of stocks, bonds, and other investment opportunities.

They will recommend investments and portfolios to clients based on their research of current and historical financial data, and examine a company’s financial statements to determine its real worth. Most financial analysts work in banks, pensions, hedge funds, securities firms, insurance companies, or other investment organizations.

The median pay for a financial analyst in 2019 was $85,660 per year and jobs in financial analysis are expected to grow at a rate of 6% by 2028, according to the BLS.

Cost Estimator

Cost estimators collect and analyze data to figure out the time, money, and labor required to make a product or to provide a service. They will read blueprints and technical documents to prepare estimates and collaborate with clients—such as engineers and architects—to determine the estimated cost for a project.

Being able to estimate the cost of a project is essential for all businesses. Cost estimators ensure that businesses only take on projects that they can reasonably afford and typically work in fields such as manufacturing or construction.

According to the U.S. Bureau of Labor Statistics, the median pay for a cost estimator in 2019 was $65,250 per year. Jobs in this field are expected to grow at a rate of 9% by 2028, which the Bureau describes as “faster than average.”

Management Analyst

Management analysts study businesses to find out how they can become more efficient. Management analysts, also called management consultants, will advise managers on how they can reduce costs to become leaner and streamline their operations.

They will gather and organize information about inefficiencies within a business, speak with staff to determine what resources are and aren’t needed by a business, then make recommendations to a business on how they can improve.

The U.S. Bureau of Labor Statistics reports that the median pay for a management analyst in 2019 was $85,260 per year. The Bureau also expects that jobs in this field will grow at a rate of 14% by 2028, which is “much faster than average.”

How Long Does an Online Bachelor’s in Accounting Take to Complete?

An online accounting degree typically takes four years to complete. This is because you will need 120 credits to graduate and most students are able to take 30 credits each year. But, if you work at a slower pace, your degree may take longer to complete.

If you already have some credits that you are transferring to your online degree, the time it will take you to complete your program will be shorter.

What Can I Do After I Get an Online Accounting Degree?

Once you’ve earned an online accounting degree, you are ready to pursue a number of different certifications. These certifications can help you distinguish yourself as an accountant. In fact, many of these certifications are required in order to practice certain types of accounting.

Here are a few of the top certificates earned by graduates of accounting degree programs:

• Certified Fraud Examiner: This certification is offered to students who have two years of fraud detection experience and who can pass the certifications’s exam.
• Certified Public Accountant: This certification requires you to take a test that covers taxation, financial accounting and reporting, and business law. This certification is required if you want to file documents with the Securities and Exchange Commission.
• Certified Managerial Accountant: This certification includes courses on managerial accounting and can position you well for a wide range of senior jobs in accounting.

There are other certifications out there such as Certified Internal Auditor and Certified Management Accountant. Many online programs offer specific instructions on how to prepare for these.

How Much Does an Online Accounting Degree Cost?

Typically, an online accounting degree will cost $300 per credit. Most bachelor’s programs require 120 credits to complete, which means that your degree will likely cost at least $36,000.

Keep in mind that this statistic does not account for the actual tuition charged at schools. Every school will have its own rates, and some schools—especially more prestigious ones—will charge significantly more than others. You may also be eligible for grants and scholarships which can help defray the cost of an online accounting degree considerably.

Conclusion

Jobs in accounting provide promising job prospects. Not only do many jobs that require an accounting degree—like an accountant or financial analyst—provide good salaries, but positions in these fields are expected to grow over the next few years.

To start your career as an accountant, you’ll need a bachelor’s degree. This will teach you about accounting, financial management, and everything else you need to pursue an entry-level job in accounting. Online degree programs are a good option if you’re looking to become an accountant and want more flexibility over your studies. Indeed, online programs allow you to study from anywhere, and on a more flexible schedule.

If you’re considering a career in accountancy or finance, an online accounting degree could be a good investment for you.