An online bachelor’s in Accounting degree program prepares students for accounting roles in many industries or for graduate studies. A bachelor’s degree is a strong credential in the business world, and it opens up a variety of career options.
Accounting is the language of business, and this allows the graduate to use numerical analysis and other tools to communicate information to executives. It also develops the student’s ability to translate financial information into a format that makes the data accessible to external parties or internal managers. These occupations, however, often require an advanced degree in Accounting.
This core competency leads to many career paths. The public and private sectors might put accountants in slightly different positions within the organization, but the function is the same. Providing executives and decision-makers with reliable access to financial information is a critical role that businesses will always need.
Students with an online Bachelor’s in Accounting degree quickly discover every organization and institution in every sector needs their skillset. This includes government, business, healthcare, entertainment, nonprofits, banking, and education. The median salary for this field is $65,000, and the outlook for the profession is to grow 7% from 2020 to 2030.
Career Paths, Accounting Degree Online
Communication with shareholders, creditors, executives, and managers requires a high degree of financial literacy, and the online Bachelor’s degree in Accounting provides students with the foundation for filling this role in any organization. There are many detailed reports to interpret in order to make financial decisions. With a bachelor’s of accounting, degree individuals have those skills and can successfully work in this field.
Prepare to Pursue Advanced Degrees, Credentials
Earning a bachelor’s degree in accounting leads to opportunities for advanced credentials. For example, graduates can sit for the CPA exam, a highly regarded credential across all industries.
Sitting for the exam means that you can become associated with the American Institute of Certified Public Accountants or AICPA. The CPA credential serves as a respected addition to any resume, and it is a marker of distinction in the world of accounting and finance.
The first step to earning this coveted credential is to get a bachelor’s degree in accounting. Students should visit the AICPA’s website in order to learn how to prepare to sit for this exam. Make sure to research all of the requirements for any professional examination before attempting to take it because many require specific courses in order to be eligible to take the exam.
Other credentials are also available for the student who successfully completes the bachelor’s in accounting degree online:
- Certified Management Accountant, or CMA
- Chartered Financial Analyst
- Certified Internal Auditor, or CIA
What are the Benefits of a Bachelor’s in Accounting?
The Bureau of Labor Statistics reports that accountants and auditors with a bachelor’s degree can reasonably expect to earn around $70,000 per year. This number reflects the estimate as a median based on all of the employees within this field. Compensation can be much higher or even lower depending on the industry, employer’s needs, and other variables.
According to a report by U.S. News, accountants increasingly take on the roles of business advisers. This trend is happening because of the automation of the accounting system itself. People who earn a bachelor’s degree in accounting get job offers from many employers. Graduates can make solid financial decisions about the direction of an organization so this and this career path offers a lot of upward mobility.
A study conducted at Georgetown University demonstrated that a bachelor’s degree in accounting provides a stable path to a good-paying job. The report documented a variety of factors that lead to a good position with an employer.
A bachelor’s degree in accounting remains a robust and versatile credential that is still valuable in the employment market even after the technology boom affected the accounting industry through automation.
Earning an Accounting Degree Online
Selecting the institution is one of the most challenging parts of earning a bachelor’s degree online. Once you choose a school and complete your financial aid application or FAFSA, you can plan your classes. Students take a variety of challenging courses related to business, finance, and communication.
However, these courses are less intimidating than many people expect, and there are plenty of resources available to help you complete each course on time. Courses include topics that prepare students to pursue an advanced degree or accept a position within a company.
Most accounting students complete courses in business finance, accounting principles, auditing, supply-chain operations, and preparation of a company’s financial statements. As with nearly all online degree programs, the flexibility of an online bachelor’s in accounting degree will offer students the ability to continue to work while earning their credentials.
Course work will also include topics related to accounting for management as well as tax preparation for businesses, individuals, and corporations. Many online programs accommodate the busy schedules of the students. Furthermore, many people seeking this degree work full-time and it’s not uncommon to juggle family responsibilities at the same time.
Preparing to Enroll
After completing the bachelor’s degree, there are a wide variety of options available. So it’s a good idea to do some rigorous self-examining before enrolling in a program. This should include your professional goals because the coursework helps to shape your career path.
For example, do you plan to sit for a professional examination to become a CPA? If so, you need to follow a specific curriculum during your studies. Additionally, if you plan to become a bookkeeper or auditing clerk, courses are more flexible and you can take more electives.
Always make sure that you qualify for financial aid throughout your entire program. There are aggregate limits for borrowing money from federal programs, and you should also become familiar with the repayment options before signing the loans.
Preparing to enroll in an online bachelor’s degree program for accounting will help you to develop and maintain the organizational habits that you’ll need for the remainder of your professional career.