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Master of Accountancy

post #1 of 26
7/30/09 at 3:04am
Thread Starter 
Can you use a Masters in Accounting for something other than becoming an accountant? I've heard that a degree in accounting is very good to have even if you don't plan on sitting for the CPA.
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post #2 of 26
7/30/09 at 3:27am
Can use it in law school to go into tax, definitely a good thing to have on the resume there. Tax boutiques hire a lot of former CAs.
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post #3 of 26
7/30/09 at 9:06am
Unless you plan on being an accountant, I would not do this. Most professional accountants I know have a reputation for thinking very narrowly. I also would not think there is a ton of upward mobility, except maybe CAO, or Controller. A graduate degree in finance, economics, or business would probably be a better choice IMO.
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post #4 of 26
7/30/09 at 12:55pm
If your undergrad is in accounting, don't do it.

If your undergrad is in another area of business, might be worth looking into, esp if you need the hours to sit for the CPA. You could also look into a more specific masters program like Tax etc...
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post #5 of 26
7/30/09 at 12:59pm
At my alma mater, the Master of Accountancy is geared squarely at people sitting the CPA exam. If you have any qualms about being a CPA, go MBA or JD since those give a broader base of knowledge.
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post #6 of 26
7/30/09 at 1:03pm
Well the problem is if you plan on getting your CPA you have to have 150 credits (in most states) to sit for the exam, most credits focusing on accounting. That's pretty much an MBA in accounting.
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post #7 of 26
7/30/09 at 2:01pm
Eh, I'm an accounting undergraduate student right now. But I'm at a unknown state school, so I'm really considering going to UT for their MPA program. Anybody have any experiences with their MPA program? I did some research, and the program seem to be really good/respect. The Big 4 accounting firm recruit from there as well. So I'm really leading toward UT for grads school.
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post #8 of 26
7/30/09 at 2:14pm
Quote:
Originally Posted by gnatty8 View Post
Unless you plan on being an accountant, I would not do this. Most professional accountants I know have a reputation for thinking very narrowly. I also would not think there is a ton of upward mobility, except maybe CAO, or Controller. A graduate degree in finance, economics, or business would probably be a better choice IMO.
I strongly disagree. If you take the masters program to get hours for a CPA, then you have tons of mobility. There might be better (more affordable) options to get the necessary hours though. My father and his family all had accounting degrees and CPAs. My dad was CFO of International Operations for a major pharmaceutical company before going in to biotech as CFO for multiple companies. He launched plants, controlled building projects, was on the team that launched NutraSweet (with Ed Liddy, and D. Rumsfeld), traveled the world on company tab, worked with IB/VC, launched many new products etc. etc. The advice I have always gotten from everyone in my family is to go in to public accounting after school for a few years before moving in to corporate. My dad did say that he wish he got an MBA when his company offered to pay as he would have been able to command top pay, sit on more boards, etc. etc.
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post #9 of 26
7/30/09 at 5:27pm
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Originally Posted by CounterStrike View Post
Do you like accounting? That should be your first concern, its not for everybody

Important question, but don't think you will spend your whole career doing data entry and auditing either
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post #10 of 26
7/30/09 at 8:52pm
Quote:
Originally Posted by Cavalier View Post
I strongly disagree.

If you take the masters program to get hours for a CPA, then you have tons of mobility. There might be better (more affordable) options to get the necessary hours though.

My father and his family all had accounting degrees and CPAs. My dad was CFO of International Operations for a major pharmaceutical company before going in to biotech as CFO for multiple companies. He launched plants, controlled building projects, was on the team that launched NutraSweet (with Ed Liddy, and D. Rumsfeld), traveled the world on company tab, worked with IB/VC, launched many new products etc. etc.

The advice I have always gotten from everyone in my family is to go in to public accounting after school for a few years before moving in to corporate. My dad did say that he wish he got an MBA when his company offered to pay as he would have been able to command top pay, sit on more boards, etc. etc.

You might strongly disagree, but I would bet if you took the CFOs of the Fortune 500, those with a Masters in Accounting would be in the minority by a long shot.
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post #11 of 26
7/30/09 at 9:10pm
My father was a CA and branched out into management in the corporate world. He'd agree with gnatty though. Most accountants don't do that and have a very narrow view of things. A lot of accountants get caught-up in trying to make everything balance down to the cent and other trivial details instead of taking a wider view. I've noticed this at work myself. There are always exceptions, but they are in the minority.
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post #12 of 26
7/30/09 at 9:12pm
Quote:
Originally Posted by gnatty8 View Post
You might strongly disagree, but I would bet if you took the CFOs of the Fortune 500, those with a Masters in Accounting would be in the minority by a long shot.
I never said a masters in accounting was a great idea, except if you need hours to sit for the CPA. You don't think a lot of those CFOs are CPAs and started out in public accounting doing tax/auditing before going corporate? OBVIOUSLY, CFO's of Fortune 500 companies most likely have an MBA, duh. You have to assume most top executives at these big companies who are earning 7 figure salaries have one.
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post #13 of 26
7/30/09 at 9:24pm
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Originally Posted by GQgeek View Post
My father was a CA and branched out into management in the corporate world. He'd agree with gnatty though. Most accountants don't do that and have a very narrow view of things. A lot of accountants get caught-up in trying to make everything balance down to the cent and other trivial details instead of taking a wider view. I've noticed this at work myself. There are always exceptions, but they are in the minority.

What I was thinking when I made my original post, so you read my mind..

Quote:
Originally Posted by Cavalier View Post
You don't think that many have CPA's?

Obviously CFO's of Fortune 500 companies have MBA's, they are pulling down 7 figures annually...

I didn't say there were not many that were CPAs, I said I doubted many had Masters Degrees in Accounting, which I think was OP's original question. That said, I would also think that CPAs are fairly rare in senior positions other than CAO or Controller.
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post #14 of 26
7/30/09 at 9:31pm
Quote:
Originally Posted by gnatty8 View Post
I didn't say there were not many that were CPAs, I said I doubted many had Masters Degrees in Accounting, which I think was OP's original question. That said, I would also think that CPAs are fairly rare in senior positions other than CAO or Controller.
May be I see this differently because my dad, grandpa, aunt, etc. are all CPA's and all have done very well. I have also met a lot of people in the field who have done well and climbed the corporate ladder. I don't believe there is any ceiling on someone with a CPA, charisma, people skills, etc. Also, on the first point, getting a masters in accounting will not all of a sudden make you think differently. The trait you describe is probably what leads people to enjoy accounting in the first place, not a result of accounting classes.. And of course, getting an MBA is key for getting to a big timer
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post #15 of 26
7/30/09 at 9:33pm
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Originally Posted by Warren G. View Post
Eh, I'm an accounting undergraduate student right now. But I'm at a unknown state school, so I'm really considering going to UT for their MPA program.

Anybody have any experiences with their MPA program? I did some research, and the program seem to be really good/respect. The Big 4 accounting firm recruit from there as well. So I'm really leading toward UT for grads school.

I hope you have good grades and test scores.
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