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MAcc, MAS, MS in Accounting - is it worth it ????

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kayser1soze
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MAcc, MAS, MS in Accounting - is it worth it ???? [#permalink] New post   29 Dec 2004, 21:30
hi,

i have been thinking for the past few weeks about doing a masters in accounting. i've already researched the best programs in the coutnry, - illinois, texas, michigan, ohio etc. but my quesiton is different - how would you rate a masters of accounting, when compared to ms in finance or economics for example. i will do an MBA eventually, but since i am getting my undergrad degree in accounting and finance this may in 2005, i would be at a disadvantage without post-bacchalourate work experience, required [recommended] by most of the top MBA programs. I want to get my CPA and CMA eventually and i think that a masters degree in accounting will strengthen my resume and chances of good post-masters employment. i think i would be able to get into a good masters program since i already have a solid background in accounting and target a stellar GMAT [750+ , GGGOOD i hope so ;]]] + the fact that these programs do not require work experience, which will improve my chances of getting in and benefit greatly from the exposure to graduate work in accounting, which is a field i adore. Would any of you guys, who already have some years of FT work experience and some masters degrees under your belt recommend i do the masters in accounting before i apply to a top MBA program?? i really think it will improve my chances since i can apply when i am 28-29 and i am only 23 now. thanks for the advice in advance.

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[#permalink] New post   02 Jan 2005, 15:20
Please give us an idea of what you plan to do between getting a masters and entering an MBA program: Work for an accounting firm? Start your own business? Enter financial services?
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kayser1soze
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[#permalink] New post   02 Jan 2005, 23:34
i guess what i want to do between the masters and the MBA is get my CPA licence and probably work for a major accounting firm. but i also want to start my own practice; whether it will be between the MBA and masters i doubt it, but you never know.
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[#permalink] New post   03 Jan 2005, 16:56
If you plan on becoming a CPA, a masters of accounting seems like a logical step. I would not be too concerned if there is some overlap between your MS and an eventual MBA since this overlap can give you an advantage over other students when competing for top grades.
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[#permalink] New post   03 Jan 2005, 22:17
thanks for the reply hjort,

yeah the overlap will be inevitable. i would like to also think that a MS + CPA will give me a substantial basis for the fundamentals in the rigor of an MBA. my main concern though is - wouldn't i be considered 'too common' or just another accountant when applying to a top MBA, since most applicants with an accounting background will have a CPA or at least MS??
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Alternatives [#permalink] New post   02 Feb 2005, 02:48
Kayser_sore,

My opinion is this (my background - fmr. mgr at PwC, CPA from MA)

1. MS in Accountancy would be redundant - All of the expertise you need to work at the Big Five is learned at the undergraduate level. Once obtaining your certification, it is equivalent to a MS in Accounting (especially with your Big4 experience).

2. I think you would be better served with a master's
degree in finance or economics - The choice of your degree is highly dependent on what your plans are re: MBA
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One more thing [#permalink] New post   02 Feb 2005, 02:57
Do not get the CMA certification - it is a bit redundant (and it is presumed that as a CPA that you understand management accounting) ...

If you are interested in an alternative that would show your ability to handle graduate material - you should consider the CFA certification - it is difficult but it has many rewards (especially in the Inv Mgmt community). It is looked upon highly favorably by MBA admission committees as a testament to self -learning and academic acumen.

Good luck - it will be an exciting ride
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Re: One more thing [#permalink] New post   Updated on: 08 Feb 2005, 13:13
thairakthai wrote:

If you are interested in an alternative that would show your ability to handle graduate material - you should consider the CFA certification - it is difficult but it has many rewards (especially in the Inv Mgmt community).


I was aspired to take a CFA level 1 course.

But

When I've asked all of my finance TAs about the CFA and they didn't know anything about it. "With a finance degree is all you need..."

Originally posted by actudiant1 on 08 Feb 2005, 12:36.
Last edited by actudiant1 on 08 Feb 2005, 13:13, edited 1 time in total.
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[#permalink] New post   08 Feb 2005, 13:02
The response of your TAs could stem from the fact that the CFA is a "postgraduate" certification and thus people usually pursue it a few years after leaving college. Further, since it is a professional certification your TAs might not be as familiar with it as a more conventional academic certification (ie a degree).

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kayser1soze
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Re: Alternatives [#permalink] New post   08 Feb 2005, 21:52
thairakthai wrote:
Kayser_sore,

My opinion is this (my background - fmr. mgr at PwC, CPA from MA)

1. MS in Accountancy would be redundant - All of the expertise you need to work at the Big Five is learned at the undergraduate level. Once obtaining your certification, it is equivalent to a MS in Accounting (especially with your Big4 experience).

2. I think you would be better served with a master's
degree in finance or economics - The choice of your degree is highly dependent on what your plans are re: MBA


thanks for you advice - can u share some more on your background - schoo/previous experience before PWC . thanks
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kayser1soze
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[#permalink] New post   08 Feb 2005, 21:54
can anyone share more info on the CFA examination and cerification process ? what are the benefits and career paths? i am really unfamiliar with it and i would appreciate it if someone could share their view.



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[#permalink] New post   09 Feb 2005, 17:29
I'm sure that Kayser has already seen this but others might find this useful:

https://www.cfainstitute.org/cfaprogram/

https://www.analystforum.com/121304.shtml

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CMA certification [#permalink] New post   03 Aug 2005, 22:24
Although there is some tendency to assume that CPA's know management accounting, the line between financial and managerial accounting is becoming thicker and thicker.

The IMA (Institute of Management Accountants) is reworking the CMA examination, making it harder, as well as selling it as a valuable asset. It's becoming more recognized over time, specially in private corporations (where most accountats want to work after being beat up by Big 4 for a few years). IBM stresses it and contracts professors from top universities to teach CMA courses throughout the year.

Also, if you've already passed the CPA, the IMA waives the financial section of the CMA exam.
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CMA certification [#permalink]
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