What Are My Career Options With An MBA in Accounting?
Graduates with an MBA in accounting set themselves up for some of the most rewarding jobs in the field. Some of the best include financial accountant, comptroller, business development and valuation, managerial accountant, forensics accountant or going the entrepreneurial route and becoming a self-employed personal finance manager.
The opportunity to enter a specialized MBA program is more convenient than ever, thanks to universities now offering online programs. An online MBA program offers a quality education and allow students to complete their degree in as little as a year. Some also offer specialization in accounting.
The following job choices are among those a graduate from an MBA in Accounting degree program can consider. Graduates should have plenty of job opportunities. While the federal government does not report job numbers for each specialty, they project an over 10% increase in the number of accountants nationwide by 2026.
Financial accountants typically work within large companies. They prepare reports on business activities, including cash flow, balance sheet and income statements. Those working for public companies must adhere to regulations on filing reports with the Securities and Exchange Commission. Those working for global companies must also know tax codes and international financial reporting standards.
This is a leadership position at the executive level. A comptroller oversees all the work of an accounting department, ensuring its accuracy. They also take responsibility for a company’s compliance with government regulations and industry standards. In some organizations, this job is called chief financial officer. Whatever the title, people in this position oversee internal and external accounting reports and advise executives on financial matters.
Forensic accountants investigate an organization’s accounting practices to discover whether fraud has been committed. As much as 5% of business revenue can be lost each year to fraud, which is why companies hire forensic accountants to check the books. Forensic accountants also work for investigative agencies such as the FBI.
Business Development and Valuation
The combination of business and accounting skills developed by MBA in Accounting graduates is perfectly suited to work in business development. Part of the job is business valuation – determining the value of assets under consideration for merger or acquisition. Within a large accounting firm, those with these skills may work with individual clients to properly value assets for estate planning.
Managerial accountants work directly with leadership. Typically, they focus on providing executives with strategic financial recommendations based on data gathered from past financial activities and projections of future profits. The focus in this job is on strategy and planning for sound financial moves for both the short-term and long-term.
Personal Finance Advisor
Some MBA in Accounting graduates may wish to start their own business. An MBA helps them do a better job of launching their enterprise. Some may also create consulting companies that provide strategic accounting services to the organizations that hire them.
The above jobs show how many different places an MBA with a specialization in accounting can take your career. It’s important to note that those who earn such a degree can also make great candidates for chief executive officer, chief financial officer and other leadership positions. The combination of business and accounting makes for a powerful combination in the business world.