In an era where the demand for accountants significantly outstrips supply, entering the accounting field has become an enticingly lucrative career move.
This imbalance, highlighted by efforts from the AICPA and CIMA to formulate a national strategy for attracting new talent, signals a golden opportunity for those on the path to becoming accounting professionals.
With the spotlight on the accountant shortage, pursuing an accounting degree not only offers a gateway to a stable and rewarding career but also positions one as a sought-after asset in the financial world.
But just how long does it take to earn an accounting degree?
Typically, aspiring accountants are looking at a four-year timeline to complete a bachelor’s degree in accounting and an additional 1 to two years for graduate degree accounting programs.
This timeframe sets the stage for acquiring essential knowledge in financial accounting, managerial accounting, tax law, and more, providing a robust foundation for either entering the workforce or advancing towards certifications like the CPA or CMA.
In the next few sections, I’ll talk to you more about the timeline to finish an accounting program for those who might want to earn a CPA license in the future. As a CPA expert who has seen countless CPA hopefuls take courses that don’t meet NASBA’s accounting degree requirements, my aim is for this read to help you avoid this and shorten your timeline from a high school diploma to professional credentials.
Key Takeaways
- Four Years for a Bachelor’s: It typically takes four years to complete a bachelor’s degree in accounting, which lays the foundational knowledge needed for a career in accounting.
- 1 to 2 Additional Years for a Master’s: Earning a master’s degree in accounting or a related field generally requires an extra 1 to 2 years of study after the bachelor’s degree, enhancing specialization and knowledge.
- 1 to 4 Additional Years for CPA Certification: Pursuing CPA certification, including meeting the 150 credit hour requirement, studying CPA courses, preparing for and passing the CPA exam, and gaining required work experience, adds another 1 to 4 years to the timeline.
- Long-Term Career Benefits: Despite the significant time investment, obtaining an accounting degree and CPA certification opens up a world of high-demand career opportunities, potentially leading to increased earning potential and job security.
The Bachelor’s Degree in Accounting Principles
A bachelor’s program with an accounting specialty typically takes four years to complete. Accounting graduates sometimes start with an associate degree program or some other undergraduate degree and then take enough accounting classes to graduate with a bachelor’s.
Core Curriculum Focus
- Financial Accounting: Offers a deep dive into the creation and analysis of financial statements, serving as the backbone for understanding a company’s financial health.
- Management Accounting: Equips students with the skills to utilize accounting information for strategic decision-making within organizations, emphasizing the practical application of accounting data.
- Cost Accounting: Focuses on the meticulous tracking, analysis, and reporting of costs, which is vital for budgeting, pricing, and financial strategy in manufacturing and service industries.
These core subjects are pivotal for students to adeptly manage financial records, engage in accurate financial reporting, and establish foundational knowledge crucial for pursuing advanced certifications like CPA licensure. Beyond these, the curriculum also includes general education courses, ranging from microeconomics to the humanities, to foster a well-rounded educational background.
“It took me 5 years to get my bachelor’s in accounting and 150 units, and another 6 months to finish my exams after that. So, 5.5 years from start to finish.”
u/Wonder-Cat
Building a Versatile Skill Set
Accounting programs, whether on-campus or online, aim to cultivate a versatile set of skills among students, preparing them for a dynamic career in accounting. This skill set includes:
- Tax Preparation and Compliance: Mastery of tax law and how to prepare tax returns is essential, requiring a thorough understanding of current regulations and their application to individual and corporate finances.
- Financial Analysis and Transactions: Students learn to decipher complex financial transactions and statements, a crucial skill for analyzing the financial activities and health of businesses.
- Specialization Opportunities: For those with specific career interests, accounting programs offer pathways to specialize in fields like government accounting, business administration, or accounting information systems, allowing students to tailor their education to their career goals.
These credit hours can be earned on campus or through an online accounting degree program. Online programs and community college options are common for those who are already on their career path and need a flexible four-year degree program.
Beyond the Bachelor’s Accounting Degree
Upon earning a bachelor’s degree in accounting, many aspiring accountants extend into pursuing a master’s degree or aiming for certifications like the CPA, which demands a deeper dive into the accounting discipline.
Master’s Degree
- Duration: Typically requires one to two additional years of study beyond the bachelor’s degree.
- Benefits: It offers specialization in areas such as financial accounting, tax accounting, or forensic accounting. It also serves as a pathway to fulfilling the 150-credit-hour requirement for CPA licensure in many states.
- Outcome: Equips students with advanced knowledge and skills, enhancing their career prospects and potential for higher earnings.
To become a Certified Public Accountant after obtaining the initial degrees, typically a bachelor’s degree in accounting generally takes an additional 1 to 4 years. This timeframe includes completing the required 150 semester credit hours, passing the CPA exam, and fulfilling the mandatory work experience under a licensed CPA.
“An accounting degree with 150 will take 5 years if you come in with no credits and you maintain a normal course load of 15 credits a semester. The CPA exam takes around 100 hours a section to study, so around a total of 400 hours. Depending if you are working full time, will determine how fast you can get through the material. Most states require one year of experience for licensing. So from nothing to CPA will take about 6 years.”
u/david912
Final Thoughts
For most, an accounting career begins with a four-year journey to obtain a bachelor’s degree, laying the groundwork in essential areas like financial and managerial accounting. Beyond this, aspiring accountants looking at advanced qualifications, including CPA certification, face additional years to meet education, exam, and experience requirements. This investment of time, while significant, opens doors to lucrative career opportunities in a high-demand field, marking a pathway not just to professional growth but to making impactful contributions in the accounting world.
FAQ
It typically takes four years to complete a bachelor’s degree in accounting at an accredited university.
An accounting degree covers subjects such as financial accounting, managerial accounting, tax law, cost accounting, and business administration.
Yes, many accredited universities offer online accounting degrees, providing flexibility for students with other commitments.
After obtaining your degree, becoming a CPA generally requires an additional 2 to 5 years, which includes meeting the 150 credit hour requirement, passing the CPA exam, and fulfilling work experience requirements.
Yes, CPA certification significantly enhances your career prospects, potentially increases your salary, and grants access to a broader range of roles in accounting and finance, making it a valuable investment in your professional future.
