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Online Accounting Bachelor's Degree
Despite the fact that accountants spend their days working with
numbers, the job does not involve as much math as one might think. "The advance of technology has taken a lot of the executing of tasks
…out of the hands of accountants and into the hands of machines. That
has made accountants fit more into the role of trusted business
advisors," Chris Ekimoff, manager of investigations and forensics for
the internal audit department at Hilton Worldwide, said in
an interview with U.S. News.
Accountants prepare taxes and inspect financial documents. They also
may offer consulting services to corporations, nonprofits and
governments. Employers need graduates who can
analyze data and work through financial models, and an
online bachelor’s degree
in accounting can help students develop those in-demand skills. An
online degree in accounting teaches students the fundamentals of
business, finance and analysis to prepare them for professional
accounting careers in both the public and private sectors.
Course Work
| Example courses |
| Principles of accounting |
| Internal auditing |
| Business communications |
| Business law |
| Auditing principles | | | |
Core courses
Core course work for online accounting students often includes
fundamentals of accounting, macroeconomics, internal auditing and income
taxation.
Students are typically introduced to the field via an introductory
accounting class, such as Principles of Accounting. Topics generally
include an overview of the accounting cycle, business transactions and
preparation of financial statements. An internal auditing course offers
students an overview of ethics and professional standards, as well as
procedures for evaluating an organization’s effectiveness, such as by
monitoring its financial performance and compliance with laws and
regulations.
These courses should help students pass the necessary exams for
professional certification as a certified public accountant, certified
management accountant or certified internal auditor.
CPA examination requirements
Students need to complete 150 semester hours in order to take the CPA
exam, and most bachelor’s degree programs fall short of this
requirement. The
American Institute of CPAs recommends students continue their studies at the graduate level, earning either a
master’s in accounting or an
MBA
with an accounting concentration. While professional certification is
not required for all potential career paths, it can significantly
improve job prospects, according to the Bureau of Labor Statistics.
Job Outlook
| Median salaries* |
| Accountants and auditors | $64,000 |
| Personal financial advisor | $68,000 |
| Budget analyst | $69,000 |
| Financial analyst | $77,000 |
| Actuary | $94,000 |
| Financial manager | $110,000 |
*per the BLS Occupational Outlook
Handbook
Increased focus on regulating and monitoring corporations in the wake
of scandals and financial crises translates into an increased demand for
accountants - particularly auditors. An auditor is an accountant who
objectively inspects the financial statements and organizational
effectiveness of a company. The well-known Big 4 accounting firms, whose
businesses are largely comprised of audit services, hire many new
accounting graduates each year.
Potential industries
The accounting, tax preparation, bookkeeping and payroll services
industry employs 25 percent of accountants and auditors, according to
the BLS. Other industries for accounting graduates to find employment
include:
• Government
• Retail trade
• Finance and insurance
• Real estate
• Manufacturing
• Management of companies and enterprises
Professional associations
Potential jobs
While becoming an accountant or auditor is the most obvious career
path, other options for students with an online bachelor’s in accounting
include budget analyst, tax examiner and risk manager, to name a few.
Another path is to become a personal financial advisor, a professional
who helps clients make important financial decisions such as planning
for retirement and making investments. With a projected employment
growth rate of more than 25 percent from 2012 to 2022, personal
financial advisors are seeing much faster demand than the average growth
rate for all occupations, according to the BLS.
