Top Online Colleges For Accounting Degrees for 2019

Considered by some to be the second-oldest profession worldwide, there will always be a need for accountants. The Bureau of Labor Statistics forecasts that job prospects for accountants will grow by 11% through 2024. While there is some degree of specialization within the field, the broad description of accountants is as individuals who prepare and examine financial records. The average accountant or auditor is employed full time and typically works a 40-hour week; additional hours are common during high-volume time periods, such as tax season.

An accountant's duties revolve entirely around numbers and financial records. The nature of the financial records is somewhat dictated by the specialization of the accountant, be they a tax accountant, auditor, or management analyst, among other professions within the industry. With few exceptions, accountants are expected to have earned at least a bachelor's degree. Professional titles, such as "Certified Public Accountant", are awarded when certain criteria — a bachelor's degree, a minimum number of years of experience, and the passing of a standardized CPA exam — are met. The median annual income of accountants is $68,150, with the top 10% earning $120,910, and the bottom 10% earning $42,140.

What Are The Best Online Colleges For Accounting Programs?

Top Online Colleges For Accounting Degrees for 2019

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What Else Can I Expect From an Online Accounting Program?

While online accounting programs vary from school to school, much of the coursework is quite similar. Most accounting programs cover the same core topics, though some upper-level coursework may differ. Some programs can take longer to complete than others depending on the requirements and course offerings.

Curriculum for an Online Accounting Degree

• Financial reporting: In this course, students learn about the standards and rules of financial reporting in the U.S. and around the world. Coursework covers how to research and apply these rules in different scenarios that professional accountants regularly encounter and how to produce accurate financial reports.

• Managerial and cost accounting: In this course, students learn about control, budgeting, and management planning as they relate to its practical use by managers when making important business decisions. Students learn how to apply problem-solving and analytical skills in a business setting to create business strategies and analyze cost information.

• Tax: In this course, students examine all facets of the U.S. income tax system and how it pertains to individuals and businesses. The course provides students with foundational knowledge about how the entire system functions, what the U.S. tax principles are, and how they impact investments, business structures, and purchasing decisions.

• Auditing : In this course, students learn about one of the most vital functions provided by accountants: auditing. This course covers interpersonal skills and communication, analytical techniques, professional ethics, and applying sound judgment. Students also learn how to ensure that regulators, investors, and clients report reliable financial information.

How Long Does It Take to Get an Online Accounting Degree?

Online accounting degrees are offered either as bachelor's or master's programs. Some universities offer structured programs for those interested in earning a bachelor's in accounting and a master's in accounting before sitting for the CPA exam. These accelerated programs allow students to decrease the amount of time it takes to become a certified accountant. Most online bachelor's degrees take four years to complete, while master's programs take an additional one-and-a-half to two years to complete. Colleges that offer the combined program options of bachelor's, master's, and CPA certification usually last around five years.

Online accounting programs also vary in the way they are delivered. Some offer courses asynchronously, allowing students to complete coursework individually and at their own pace. Other programs organize students into cohorts who move through the curriculum together and regularly collaborate on coursework.

Advanced Accounting Degrees and Certifications

While a bachelor's degree is required for entry-level positions in an accounting career, those that desire a senior or executive position will benefit from having graduated from a master's program and obtaining some common certifications. Certifications such as the CPA, CGMA, CISA, and CFE all require extensive study and experience in order to acquire. When preparing for certifications, a master's program will, most likely, provide the educational base and the two years experience needed to be eligible to sit for the exam. Certifications can cover general accounting or focus on a highly specialized role. Some of the more specialized certifications are:

Careers in Accounting

Accounting, like many careers, holds a variety of possible specializations and career options. Some common entry-level positions could include working at a tax shop or as a bookkeeper. Other options include:

• Cost Estimators: Cost estimators collect and analyze data in order to estimate the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service. They generally specialize in a particular product or industry.

• Financial Analysts: Financial analysts provide guidance to businesses and individuals making investment decisions. They assess the performance of stocks, bonds, and other types of investments.

• Personal Finance Advisors: Personal financial advisors provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement to help individuals manage their finances.

Salary Outlook for Accounting Program Graduates

Graduates with an accounting degree can pursue a wide variety of careers as government accountants, cost estimators, and certified public accountants. The demand for these jobs should remain relatively steady, as accountants who manage a business's funds are always a necessity. Most accounting professionals command an average annual salary of roughly $60,000. Certified public accountants are among the higher-paid professionals in the accounting industry due to the high volume of clientele they serve for tax-related tasks and the stability they offer to businesses.

Professional Organizations in Accounting

There are many different professional associations to join as an accountant, many of which provide excellent networking opportunities and informational resources. While some organizations focus on specific aspects of accounting, others cater to a more general accounting community. Joining an organization that fits your needs can help you to advance your career as well as gain valuable insight into the profession. Some professional associations include:

• American Association of Finance and Accounting

• The Institute of Internal Auditors

• Institute of Management Accountants

• Professional Association of Small Business Accountants

• Young CPA Network

Financing Your Online Accounting Program

There are many different ways students can pay for their degrees. The first step is to complete the Free Application for Federal Student Aid (FAFSA), which qualifies students for federal financial aid in the form of loans, grants, and work-study programs. There is also an array of scholarship available for students that are awarded based on academic performance, area of study, demographics, and more.

Scholarships for Accounting Students

There are a wide variety of scholarships for students to choose from, some of which are offered exclusively for undergraduate and graduate accounting students. These scholarships vary a great deal in terms of the amount offered and the requirements placed on applicants. Below is a collection of scholarships that are ideal for accounting students.

To determine the best online Accounting programs, we looked at the most important factors prospective students, mainly common predictors of future success and a school's commitment to online programs. This boils down to admissions rate, student loan default rate, retention rate, graduation rate, and the percent of students enrolled in online classes. All data points are taken from information provided by colleges and universities to the National Center for Education Statistics.

Each factor is weighted evenly in order to give an objective view and determine the 7 best online Accounting programs. To calculate our rankings, we looked at a school's ranking when organized by a single factor, and then averaged each category's ranking to find an overall score: Admissions Rate (20%) + Default Rate (20%) + Retention Rate (20%) + Graduation Rate (20%) + Percent of Students Enrolled in Online Classes (20%) = Final score.