The field of accounting offers a variety of challenges and opportunities. The diverse roles available to accounting professionals can be overwhelming. Therefore, undergraduate accounting majors face a crucial decision upon graduation: Should they obtain their Certified Public Accountant (CPA) certification or enter the workplace immediately? After all, a CPA certification is required for more specialized career paths.
However, forgoing the CPA exam can be a fast track to earning real-world experience and income more quickly. Regardless of your decision, the Master of Accountancy (MAcc) Online program from Emporia State University positions graduates for successful accounting careers.
Choosing a Non-CPA Career Track
The CPA exam, formally known as the Uniform CPA Examination, grants young accounting professionals the CPA certification. While this certification can undoubtedly advance your accounting career, passing the exam is also a rigorous process.
The four-part test — comprising three Core sections and one Discipline section — requires considerable preparation. For this reason, some graduates choose to forgo the exam so they can enter the workforce earlier and start earning both income and experience more quickly. Accounting majors who choose a non-CPA career track can still pursue a wide range of accounting roles, including:
- Forensic accountant
- Environmental accountant
- Bookkeeper
- Business analyst
- Marketing expert
Many of these roles blend accounting with other business practices. Additionally, obtaining an advanced degree like an MAcc can still position you for lucrative positions that don’t require a CPA certification. That said, if you wish to pursue high-ranking accounting or financial positions, then a CPA certification is essentially a requirement.
Choosing a CPA Track
Most companies will require a CPA certification when hiring for more advanced financial roles. Additionally, only CPAs can conduct specialized tasks that involve regulators, such as representing clients to the Internal Revenue Service (IRS) or filing reports with the Securities and Exchange Commission (SEC). Many of these specialized roles come with greater earning potential. Here are a few examples of the roles you can pursue as a CPA and the average annual salaries for each position:
- Chief financial officer (CFO): $144,563
- Treasury manager: $105,879
- Finance director: $103,995
- Anti-money laundering manager: $97,946
- Auditor: $91,866
Choosing a CPA track means that you’ll have to spend more time preparing for and passing the CPA exam. However, by becoming a CPA, you’ll be a top candidate for nearly any entry-level accounting role upon receiving your certification, especially if you’ve earned an MAcc degree.
The Importance of Choosing the Right Track
The decision to pursue a CPA will depend on your career and lifestyle preferences. For example, CPAs tend to secure higher salaries, with data showing that CPAs earn an average of $119,000 annually compared to $70,000 for accountants with a bachelor’s degree. However, the tradeoff is that some higher-paying accounting roles can be difficult, time-intensive and stressful.
It is vital to evaluate your personal and professional goals when approaching these considerations. Once you appreciate all pertinent factors, its time to prepare for the CPA exam. Two of the most significant considerations are work-life balance and earning potential. Regardless of the path you choose, an MAcc from ESU can help you stand out in the job market and put you in a better position to find the right career path.
Earn Your Master of Accountancy Online From Emporia State
The MAcc online program from Emporia State prepares students for financial leadership roles by teaching them the skills to succeed across industries. Coursework encompasses all relevant accounting knowledge, as well as essential soft skills such as effective communication, critical thinking and teamwork.
The program offers a comprehensive curriculum designed to prepare students for a variety of careers, while also meeting the 150-hour requirement to sit for the CPA exam. A few of the most relevant courses include:
- Advanced Auditing: Students learn a detailed overview of how to perform an external audit. This includes all relevant documentation, testing, and the design and implementation of corroborative substantive tests.
- Advanced Management Accounting: Students learn advanced skills required to succeed in accounting management, which include budgeting, capital investment, and pricing.
- Advanced Accounting Information Systems: Students examine the linkages between information systems and accounting, helping them become trusted business advisors.
Emporia State’s program also offers considerable flexibility to accommodate other obligations. Students can complete the program entirely online in as few as twelve months, which gives them the option to continue working or pursue other opportunities while enrolled.
Learn more about Emporia State University’s online Master of Accountancy program.
