Students can pursue post-secondary education in accounting at the associate, bachelor’s, and master’s degree levels. Depending on their education and experience level, students can pursue jobs such as accountants and auditors, loan officers, compensation and benefits analysts, and more.
The first step in furthering your education in this field is finding the right online accounting degree program for you. With that in mind, Intelligent.com reviewed dozens of associate, bachelor’s, and master’s degree programs based on their cost, retention and graduation rates, faculty, rankings, and more. The result is our list of picks for the best online accounting programs of 2023.
To provide students with additional support in this journey, Michelle Pickett, the director of Northern Illinois University’s Academic Advising Center, offers her expert insight into what students should look for in an online accounting degree program and what they can expect in terms of program cost and duration, admissions requirements, career opportunities and more.
Online Accounting Program Overview
What can you do with an accounting degree?
By earning an accredited online degree in accounting, you can unlock a world of opportunities in the financial realm. Northern Illinois University’s Academic Advising Center Director Michelle Pickett states, “A bachelor’s degree in accounting provides individuals with the skills to prepare and examine financial records, evaluate financial data for its accuracy, and ensure that the appropriate taxes are paid.” Your financial reporting and budgeting expertise will make you a valuable asset to organizations seeking to maintain accurate records and make informed financial decisions.
Whether you are pursuing an undergraduate or graduate program, accounting offers diverse career prospects that cater to individuals with a penchant for numbers, analysis, and strategic decision-making. Through comprehensive coursework and practical experiences, this degree equips you with the skills and knowledge necessary to navigate careers in finance, taxation, auditing, and more.
How long does it take to get an accounting degree?
| Type of Degree | Average Completion Time | Prerequisites |
| Undergraduate | 4 years | General education courses in mathematics, English, and social sciences |
| Graduate | 1-2 years | A Bachelor’s degree in Accounting or a related field |
The typical time frame for undergraduate students pursuing a bachelor’s degree in accounting is around four years of full-time study. However, this duration can vary based on factors like the number of credits taken per semester and whether students enroll part-time or full-time. Prerequisites for undergraduate accounting programs often include general education courses in mathematics, English, and social sciences.
Regarding graduate programs, the duration can range from one to two years for a master’s in accounting. Graduate programs generally have specific prerequisites, such as an undergraduate degree in accounting or a related field. However, for prospective students without an accounting background, some programs offer prerequisite courses to bridge the knowledge gap.
Asynchronous vs. Synchronous Learning
Asynchronous and synchronous learning play a role in the flexibility of completing an online accounting degree, and both options can be a good fit for different reasons. Asynchronous learning allows students to access course materials, lectures, and assignments at their own pace, making it suitable for those with full-time jobs or other commitments. Conversely, synchronous learning involves real-time interaction with instructors and fellow students through virtual platforms, offering a more structured and collaborative learning experience.
Part-time vs. Full-time Enrollment
Whether students attend part-time or full-time can also affect the time required to complete an accounting degree. Part-time study allows students to spread their coursework over an extended period, accommodating work or personal commitments. In contrast, full-time study typically involves a heavier course load and may lead to faster program completion.
How much does an accounting degree cost?
An undergraduate accounting degree can range from approximately $30,000 to $60,000 for tuition and fees at public universities. However, attending a private institution can significantly increase the cost. According to National Center for Education Statistics data, the average private institution charges $27,000 more per semester than public universities.
Similarly, the cost of a graduate degree in accounting can vary greatly. These degrees cost between $30,000 and $70,000, depending on the institution and whether the student is an in-state or out-of-state resident. Tuition is cheaper for residents of the state where the school is located and subsidized by the government.
The student’s study pace can also influence costs. Pursuing a degree part-time can be more manageable for those who need to work while studying. However, it may extend the duration of the program, resulting in additional costs for tuition and fees in the long run.
What are the admission requirements of an accounting degree?
Admission requirements for undergraduate and graduate degree programs in accounting vary from school to school. However, you may encounter some common prerequisites and required test scores you may encounter.
Bachelor’s degree in accounting
To apply for an undergraduate accounting program, you must have a high school diploma or an equivalent credential, like a GED. The admissions committee will also look at the following:
- High School Grade Point Average (GPA): The specific GPA requirement can vary, but a competitive GPA is typically around 3.0 on a 4.0 scale.
- Standardized Test Scores: While not all undergraduate accounting programs require standardized test scores, some may ask for SAT or ACT scores.
- Additional Application Materials: Most universities will require you to submit your official high school transcripts, letters of recommendation, and a personal statement or essay highlighting your interest in accounting and career goals.
In addition, some programs may require the completion of specific prerequisite courses before you can declare accounting as your major. These courses typically include foundational classes at the college level in mathematics, English, and social sciences and are usually completed within the first two years of your degree.
Master’s degree in accounting
To apply for a graduate accounting degree, you must have a bachelor’s degree from an accredited institution in accounting or a related field. If your undergraduate degree was in a different area, you may be required to complete prerequisite accounting courses or demonstrate proficiency in certain accounting concepts. Graduate schools will also examine the following things when determining admission:
- Undergraduate GPA: Graduate programs often have a minimum GPA requirement for admission of 3.0 or higher, although some schools will grant admission to students with a GPA of 2.5 or higher.
- Standardized Test Scores: Many graduate accounting programs require test scores from the Graduate Management Admission Test (GMAT) or the Graduate Record Examination (GRE). The specific score requirements will vary by institution.
- Additional Application Materials: You must submit official transcripts from all attended institutions, letters of recommendation, a resume or CV, and a personal statement or essay outlining your career goals and reasons for pursuing a graduate degree in accounting.
The Top 50 Online Accounting Degree Programs
Discover More Options
How We Rank Schools
This list features some of the best online accounting degree programs at top colleges across the country. Each school featured is a nonprofit, accredited institution — either public or private — with a high standard of academic quality for post-secondary institutions.
We evaluated each school’s program on tuition costs, admission, retention and graduation rates, faculty, reputation, and the student resources provided for online students. Then, we calculated the Intelligent Score on a scale of 0 to 100. Read more about our ranking methodology.
Next, we compared this comprehensive list of online accounting programs to a list of aggregated college rankings from reputable publications like the U.S. News & World Report, among others, to simplify a student’s college search. We pored through these rankings so students don’t have to.
Accounting Degree Concentrations
Is a specialized accounting degree better than a general accounting degree?
Whether a specialized accounting degree is better than a general one depends on your career goals and industry preferences. If you have a clear path in mind or a specific industry you’d like to work in, earning a specialized degree can be an excellent choice to help you meet those goals. Additionally, a specialized accounting degree can set you apart from other candidates with a general accounting background if you live in an area with a competitive job market.
On the other hand, a general accounting degree may be the best fit for you if you’d like a broader foundation in accounting principles and practices. This versatility can be advantageous if you are still deciding on a specific career path or want to explore different areas within accounting before specializing. A general accounting degree opens up career opportunities across industries, including public accounting firms, finance departments, government agencies, and more.
What are some common accounting degree concentrations?
A career in accounting goes beyond crunching numbers. A specialized degree allows students to find a concentration that aligns with their professional goals.
Financial Accounting
Students with an analytical mindset and an interest in economics may enjoy a concentration in financial accounting. In this specialized track, students develop the knowledge and skills to contribute to the accurate and transparent financial reporting practices essential for effective decision-making. Students learn the intricacies of financial reporting and analysis to ensure regulatory compliance and help maintain the trust of stakeholders in the financial world.
Managerial Accounting
Those with a knack for strategy and wise decision-making may thrive in a managerial concentration. Students in this field gain a deep understanding of organizational accounting techniques, cost analysis, budgeting, and performance evaluation. They frequently pursue careers as management accountants, financial analysts, or budget analysts.
Taxation
Detail-oriented students with a knack for problem-solving may be well-suited for a concentration in taxation. Students learn about federal, state, and international tax codes through coursework specific to taxation, including relevant tax laws and regulations. They explore topics such as income taxation, estate and gift taxation, tax research methods, and tax implications of transactions.
Auditing
Individuals who enjoy investigative work, possess critical thinking abilities and have a strong sense of ethics may enjoy an auditing concentration. This concentration focuses on developing specialized knowledge and skills in assessing and evaluating financial statements, internal controls, and compliance with auditing standards. Graduates often pursue careers as auditors, internal auditors, assurance professionals, or compliance officers.
Forensic Accounting
Students interested in solving puzzles, conducting investigative work, and possessing a passion for seeking the truth in financial matters may thrive in a forensic accounting concentration. This field intersects with accounting, investigative skills, and legal procedures. Students in this concentration learn to apply accounting principles and techniques to investigate financial fraud, embezzlement, and other financial crimes.
Career Opportunities for Accounting Degree Graduates
Career trajectories
An accounting degree prepares you well for a lucrative career in multiple industries. Some possible jobs for students with either a bachelor’s or master’s degree in accounting include the following:
- Certified Public Accountant (CPA): Becoming a CPA allows you to work in public accounting firms, providing auditing, tax preparation, and consulting services to clients. CPAs often hold auditors, tax accountants, or financial consultants positions. Median annual salary: $77,250
- Financial Analyst: Financial analysts analyze data, assess investment opportunities, conduct market research, and provide recommendations to individuals or organizations regarding investment decisions, budgeting, and financial planning. Median annual salary: $91,580
- Internal Auditor: Internal auditors ensure organizations have adequate internal controls and compliance procedures. They evaluate the reliability of financial information, assess operational efficiencies, and identify areas for improvement. Median annual salary: $63,158
- Forensic Accountant: Forensic accountants investigate financial crimes, such as fraud and embezzlement. They analyze financial records, trace illicit transactions, and provide expert testimony in legal proceedings. Median annual salary: $75,712
- Financial Manager: Financial managers oversee the financial operations of organizations. They develop financial strategies, manage budgets, monitor financial performance, and make recommendations to improve profitability and efficiency. Median annual salary: $131,710
Is an accounting degree worth it?
An accounting degree can provide a solid foundation for a rewarding and financially promising career. Expert Michelle Pickett agrees. “Earning an online accounting degree is valuable in preparing individuals to pursue careers related to accounting, auditing, and budget management in various industries,” she says.
The demand for accountants and auditors is projected to grow 6% over the next decade, meaning that professionals in this field can count on steady employment for the foreseeable future. Yet, this degree does more than train you to be an accountant. With an undergraduate or graduate degree in accounting, you can find work as a budget analyst, loan officer, auditor, financial examiner, and financial analyst.
Yet, it’s essential to acknowledge that there is more to selecting this major than high demand. Determining an accounting degree’s potential Return on Investment (ROI) is also important. According to the Education Data Initiative data, the lifetime ROI for most Bachelor’s degrees, including accounting, is an impressive 287.7%. Yet, most degree holders don’t see these returns for 15 years after earning their degree. For the first ten years, the ROI on a Bachelor’s degree is -41.1%.
However, students who continue to earn their master’s in accounting have a different reality due to increased job prospects and higher earnings. According to data from the University of North Carolina, graduates with a master’s in accounting will likely double their annual salary in just five years. In addition, graduate students with a degree in accounting are likely to incur less student debt than other professional degrees, like law and medicine, because the degree can be completed in a shorter amount of time.
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How To Choose an Accounting Degree Program
First, ensure that a recognized accrediting body accredits your accounting program. “Accreditation is important when looking at the academic requirements, standards, and quality of a program’s academic curriculum,” Pickett says. “It also factors into a student’s eligibility for federal financial aid funding.” Look for accreditation from organizations such as the Association to Advance Collegiate Schools of Business (AACSB) or the Accreditation Council for Business Schools and Programs (ACBSP).
Cost is another significant consideration. While tuition expenses vary among institutions, evaluating your degree’s potential ROI is essential. “Look at the cost of tuition, technology or distance learning fees, book costs, and any required software for the program,” Pickett recommends. It would be best to research the starting salaries and long-term earning potential for accounting graduates from your prospective institutions. Then, compare these figures to the estimated cost of your education to assess the financial viability of your investment.
Consider the program’s reputation within the accounting industry. Look for programs with a strong track record of producing successful graduates who excel in their careers. “How reputable a program is can be based on how long it has been in existence,” Pickett says. “The longevity of a program also speaks to the quality of the program.” Check for alum testimonials, industry partnerships, and recognition or rankings from reputable sources. A program with a solid reputation can open doors to better job opportunities and networking connections.
It’s also essential to evaluate the quality and relevance of the curriculum offered. A comprehensive and up-to-date curriculum that covers critical accounting topics, such as financial accounting, managerial accounting, auditing, taxation, and information systems, is vital. Pickett recommends that students “Explore the prerequisite and required courses, course descriptions, and attributes of the degree you are considering. Are discussion forums collaborative or capstone projects included in the curriculum? Are real-world experiences like practicums or internships required?” Look for programs incorporating practical learning experiences to gain hands-on skills and enhance marketability.
5 Steps To Earning an Online Accounting Degree
1. Make sure it’s the right choice
While earning an accounting degree is an excellent way to pursue an in-demand and lucrative career, it’s crucial to ensure that this degree closely aligns with your goals and interests. Consider exploring introductory accounting courses to gauge your interest and aptitude or shadowing professionals in the field to get real-world exposure.
Researching career prospects, job responsibilities, and potential paths within accounting helps align expectations. “Consider a program that allows you to explore courses that focus on the basic similarities of the accounting degree to other business areas (i.e., finance, business administration, etc.), which allows you to explore all areas before choosing a specific one,” Pickett adds. Consulting with academic advisors, current accounting students, and professionals can also offer valuable insights that apply to your unique situation.
2. Research schools and programs
Comprehensive research can ensure that you make an informed decision on the best fit for your accounting degree. Start by compiling a list of potential schools based on specialization options, program reputation, and accreditation. Then, explore each school’s website to gather information on curriculum, faculty expertise, and student support service. You can also read reviews and research rankings to gauge program quality and contact current students or alums for their firsthand experiences. Lastly, consider visiting campus or participating in virtual tours to get a feel for the environment.
3. Prepare for tests and applications
Preparing for tests and applications is crucial to ensure you land in one of your preferred programs. To optimize your preparation, you can adhere to these steps.
- Review the admission requirements for each program and ensure that all necessary documents are in order.
- Familiarize yourself with the content and format of standardized tests such as the ACT or SAT for undergraduate students or the GRE for graduate students and allocate dedicated study time.
- Utilize study resources and practice exams. Some students benefit from seeking guidance from tutors or enrolling in a test prep program.
- Develop a comprehensive timeline for application deadlines and prioritize completing each application meticulously.
- Cultivate strong recommendation letters and personal statements that highlight your passion, skills, and relevant experiences in accounting.
4. Determine how you’ll pay for your degree
After you’ve optimized your test preparation and sent in your applications, it might help to get a leg up on how you will finance your degree.
Begin by researching scholarships, grants, and financial aid opportunities for accounting students. Explore government programs, private scholarships, and institutional funding options to ensure you find the most opportunities.
To offset expenses further, consider part-time work or seeking paid internships. Create a budget to manage finances effectively during your studies.
If you have explored all other options and still need additional financing, explore student loan options, but pay close attention to repayment terms and interest rates. Submitting the Free Application for Federal Student Aid (FAFSA) is an excellent way to see if you’re eligible for any federal student loans, which generally have lower interest rates and more flexible repayment terms than private loans.
5. Select your program
You can feel confident selecting your program after conducting thorough research, reviewing admissions requirements, and considering financial factors. Choose a program that resonates with your aspirations and offers the best fit for your academic and professional journey in accounting.