While your penchant for numbers and accounting would have inspired you to pursue a degree in commerce or economics, the next question that arises is with respect to the higher studies to be undertaken. Given the numerous choices, one of the dilemmas students pursuing a degree in accounting or finance face is whether to pursue ACCA or a Master’s degree in Accounting. This blog delves into the difference, the curriculum each covers and the importance of ACCA course.
What comprises a Master’s in Accounting?
A Master’s in Accounting could be MSc, Master of Professional Accounting or Master of Accounting and could also be an MBA (Master of Business Administration) with a specialization in Accounting. A Masters in Accounting comprises theory subjects, case studies, projects and seminars including a major chunk of time decided to research with a dissertation.
For a Master’s in Accounting, the eligibility criteria is a bachelor’s degree in quantitative subjects like commerce, economics, finance, and business studies. It is imperative to be strong in maths, accounting and finance before pursuing a Master’s in Accounting.
With a master’s degree in accounting, you can work towards earning a CPA which would offer great weightage to your resume, allows accountants to register records with the Securities and Exchange Commission. It also enables you to help sharpen analytics skills and gain a deep understanding of accounting which helps build a career as a public accountant, auditor, financial analyst, and accountant.
The curriculum explores the following –
- Assessing financial information through IT
- How to prepare and file individual and Corporate Tax
- Professional auditing techniques
- Quantitative Analysis
What is ACCA all about?
ACCA is an international accountancy organization which offers a qualification to develop a career in Accounts and Finance. Recognized globally by 78 markets and 80 international accountancy partnerships, this program is extensive, reasonably priced and is constantly updated with industry-standard knowledge and skills.
ACCA features 13 courses and exams which are divided into various segments and offer courses in Business, Management, and Financial Accounting.
ACCA vs Master’s in Accounting
While Master’s in Accounting follows a natural progression in mastering concepts divided through three years of study, ACCA is a tightly scheduled and intense program. ACCA requires you to be on top of your game as it covers a lot of segments and has the combined intensity of the difficult most aspects from Bachelor’s and Master’s degree.
An ACCA qualification is the quickest way to start your career in the world of accounting and finance as compared to taking a Master’s degree. Also, the course fees for finishing ACCA is on the lower side as compared to an Accounting degree.
It would be wise to weigh the pros and cons while taking up the course of your choice while keeping in mind the end result.