Associate's, Bachelor's, or Master's:
Which Degree is Right for Me?
This guide will help you explore your options as you seek to find the degree program that best fits your life and career goals.
Jump to Associate's Overview - Jump to Bachelor's Overview - Jump to Master's Overview
Online Accounting Associate's Degree
An online associate's degree in accounting can be a first step into an entry-level accounting career, such as a bookkeeper or auditor. An associate degree in accounting will provide you with a basic understanding of concepts, such as business strategy, economics, management and financial statements. You will also learn how to record, understand, and analyze financial data. An associate's degree in accounting will help you develop a basic understanding of how businesses operate and how you can use your skills to improve their operations.
The average length of time it takes to complete an associate's degree in accounting (whether online or in-person) is about two years of continuous study. The number of credits you must take to earn the degree, and the associated cost, depend on the program you are attending. Let's take a look at the cost and length of the associate's in accounting programs at some online universities:
- Kaplan University: 90 credit hours; $33,390
- University of Phoenix: 30 credit hours; $12,500
- DeVry University: 65 credit hours; $37,750.
- American Public University: 61 credit hours; $15,250
- Baker College Online: 27 credit hours; $5,265
Online Accounting Bachelor's Degree
Most online universities offer a bachelor's degree in accounting that can be completed in four years of continuous study. It should be noted, however, that students who are working full time may take five or six years to earn their degree. By earning a bachelor's degree in accounting through web-based education, you will open up a wide range of career options. The field of accounting is broken into four major career categories: public accounting, management accounting, government accounting, and internal auditing.
- Public accountants focus primarily on tax issues for companies and personal tax returns. According to the U.S. Bureau of Labor Statistics, the median income for tax preparers and bookkeepers is $61,480 per year.
- Management accountants record and analyze the financial information of companies. This usually involves budgeting, cost management, and asset management. The median annual income for such professionals is $59,820.
- Government accountants work in the public sector. They audit businesses and maintain the financial records of government agencies. Accountants working for local governments earn, on average, $53,660 per year. Accountants in state government earn an average of $51,250 per year.
- Internal auditors rate how effective an organization's internal controls are and look for mismanagement, waste, and fraud. The median income for all accountants and auditors is $59,430 per year.
A quick sampling of the accounting programs at some of the larger public and private online universities will give you an idea of the credit hours and total cost required to complete a bachelor's degree:
- The University of Maryland University College chargers $237 per credit for Maryland residents, and $499 for non-residents. The difference in price for a 120-credit bachelor's degree is substantial—$28,440 for residents, and $59,880 for non-residents.
- Kaplan University offers a 180-credit bachelor's degree in accounting for $66,780, about $17,000 per year.
- The University of Phoenix offers a 120-credit accounting degree for $73,800, or $18,450 per year over four years.
- DeVry University's 124-credit accounting degree costs $71,300, or around $18,000 per year.
- Baker College Online offers a bachelor's degree in accounting that requires 183 credits and costs $34,770, or about $8,700 per year.
Online Accounting Master's Degree
If you already possess a bachelor's degree in accounting, and are looking to move up in this career field, then going back to school for a master's degree in accounting might be a good decision. A master's degree will be especially helpful in making you eligible to become a Certified Public Accountant or obtain other accounting certifications.
The requirements for becoming a Certified Public Accountant vary by state, but 46 states and the District of Columbia require that CPA candidates have finished at least 150 hours of college coursework. This is 30 hours more than a normal four-year bachelor's program. Getting a master's degree online is a great way to acquire those 30 extra hours. Additionally, many master's degree programs offer courses that help you prepare for accounting certification examinations, such as the Uniform CPA Examination, while simultaneously improving your professional standing and career prospects.
Most online universities—both public and for-profit—charge higher fees for graduate courses than for undergraduate courses. For example:
- The University of Phoenix charges $780 per credit for online graduate courses, which equates to $28,080 for its 36-credit master of science in accountancy.
- DeVry University charges $33,000 for its MBA in accounting.
- Kaplan University's master of science in accounting program costs $22,932.
- The University of Maryland University College charges $15,408 for its 36-credit master's degree for Maryland residents, and $23,724 for non-residents.
Article Resources:
University of Phoenix's Associate's, Bachelor's, and Master's Programs
DeVry University's Associate's, Bachelor's, and Master's Programs
Baker College Online
Kaplan University's Associate's, Bachelor's, and Master's Programs
American Public University
University of Maryland University College Bachelor's and UMaster's Programs
U.S. Bureau of Labor Statistics