Accountants are responsible for maintaining financial records and ensuring that an organization's bottom line is reflected in the numbers. Because of the crucial role they play in a firm's financial viability, demand for accredited accounting professionals is consistently high, and the job outlook in the field is projected to grow 11% between 2014 and 2024.Most accountants hold at least a bachelor's degree, but due to increased competition in the field, many professionals seek out master's degrees to get an edge in the job market. Graduates can further boost their job prospects with certifications in specific fields of accounting. Becoming a certified public accountant (CPA), for example, can open the door to more job opportunities and higher salaries.Many individuals in this field work as tax accountants, public accountants, or bookkeepers while earning an advanced degree that will lead to high salary careers, such as budget analysts, auditors, or forensic accountants. An increasing number of busy professionals choose to pursue an accounting degree online as a flexible alternative to traditional classroom learning.
Online Accounting Degree Overview
| Degree Level | Average Cost | Loan Default Rate | Time Commitment | Early Career Pay | Mid-Career Pay | Unemployment Rate |
|---|---|---|---|---|---|---|
| Associate | $13,412 | 15.75% | 2 years | $33,700 | $46,700 | 8.2% |
| Bachelor's | $18,435 | 11.76% | 4+ years | $49,050 | $80,500 | 4.6% |
| Master's | $19,748 | 9.01% | 1+ years | $55,600 | $92,600 | 3.1% |
Featured Online Programs
An accredited online accounting degree covers skills for a variety of professional roles, including budget analysis, risk assessment, regulatory compliance, auditing, tax accounting, and payroll management. While any candidate for an accounting job will have at least an associate degree, a bachelor's degree or higher will increase both salary expectations and employment prospects.
Online Accounting Degrees
Online Accounting Find Accredited Degrees
Online Accounting Choose Your Career
| Career | Median Salary | Projected Growth | 2014 Employment |
|---|---|---|---|
| Billing Clerk | $36,260 | 6% | 1426500 |
| Accounting Clerk | $36,430 | -8% | 1760300 |
| Financial Analyst | $78,620 | 12% | 227600 |
| Certified Public Accountant | $65,940 | 11% | 1332700 |
| Management Accountant | $102,750 | 6% | 2467500 |
Online Accounting Professional Requirements
CPA Exam
The Uniform Certified Public Accountant Examination (CPA Exam) is taken by accounting professionals who wish to become certified public accountants in the U.S. CPA-certified workers are equipped with a range of accounting skills, including technical know-how, commitment to procedure, analytical skills, and communications. The exam is divided into four sections: business law and professional responsibilities; auditing; accounting and reporting (taxation, managerial, and governmental and nonprofit organizations); and financial accounting and reporting (business enterprises). Some states require CPAs to maintain and improve their skills through continuing education and professional development courses.
CMA Exam
The Certified Management Accountant is taken by professionals who are seeking accreditation for financial and accounting management skills. Those who are qualified to sit the exam have experience in financial planning, business decisions, analytics, and control. The exam itself emphasizes financial planning, analysis, control, and decision support. CMA candidates must complete a number of educational and professional experiences, including a bachelor's degree, two years of continuous professional/workplace experience, and 30 hours of Continuing Professional Education (CPE) credits.
CIA Exam
The Certified Professional Auditor (CIA) is the professional designation administered by the Institute of Internal Auditors (IIA), and is taken by accountants who plan to specialize in the field of internal auditing. CIAs are required to take continuing education courses to maintain their IIA certification.
CFE Exam
The Certified Fraud Examiner (CFE) Exam is taken by accounting professionals looking to specialize in the field of fraud prevention, detection, and investigation. It is administered by the Association of Certified Fraud Examiners. CFEs demonstrate a wide professional skillset relating to fraud, including deterrence, scheming, investigation, and law. Those wishing to take the CFE Exam must be ACFE members and have approved CFE Exam applications on file.
Enrolled Agent
Enrolled Agents (EA) are federally licensed tax practitioners who are authorized to represent taxpayers at the Internal Revenue Service (IRS). EAs advise, represent, and prepare tax returns for individuals and organizations. Enrolled Agents must pass the Enrolled Agent Exam, which assesses the candidate's knowledge of all areas of U.S. tax code, or they must have worked at the IRS for at least five years in a position heavily involved in tax code application and regulation. To renew their license, EAs must complete 72 continuing education (CE) credit hours over the three-year renewal period.
Certified Government Financial Manager
Certified Government Financial Managers (CGFM) are accounting professionals who have been accredited by the Association of Government Accountants (AGA). These professionals have experience in government accounting and financial management. CGFMs must pass three examinations: Governmental Environment, Governmental Accounting, Financial Reporting and Budgeting, and Governmental Financial Management and Control. To maintain their certification, CGFMs must renew annually and complete 80 continuing professional education credits every two years.
Certified Financial Planner
Certified Financial Planners (CFP) are granted their certifications by the Certified Financial Planner Board of Standards. Those who pass demonstrate for employers that they are equipped to practice as independent financial planners. To maintain their certification, CFPs must complete 30 credit hours of continuing education every two years. This process also involves a renewal application and fee.