Accelerated Accounting Master's Degree Overview

A master's degree in accounting can specialize your skills, meet licensure requirements, or increase your earning potential. And an accelerated accounting master's degree lets you complete graduate school in less time.

During an accelerated accounting degree program, you'll take fast-track master's courses in accounting. While traditional programs typically take two years, an accelerated format means you can graduate in as little as 12 months. That makes accelerated programs ideal for certified public accountants (CPAs) and other accountants who want to enter the workforce quickly.

If you're considering a master's in accounting, learn whether an accelerated program is a good fit for you.

Why Pursue an Accelerated Accounting Degree?

Trade-Offs in Getting Your Accounting Master's Faster

• Demanding Courseload: The weekly time commitment for an accelerated accounting degree can make it harder to work while in grad school. In order to complete your degree in as little as 12 months, you'll complete the same number of credits as a two-year program in half the time. Accelerated programs also typically do not offer part-time enrollment.
• Limited Electives: Choosing an accelerated program might limit your accounting electives. These programs typically offer a set curriculum with fewer options to customize your degree. If you're interested in a particular accounting specialty, you'll need to check whether the program includes courses in that area.
• Eligibility Restrictions: Accelerated accounting programs may require that applicants have majored in accounting or have completed prerequisite courses. These programs may also set a higher minimum GPA for admissions. You'll need to meet the eligibility requirements in order to enroll.

What to Expect From a Short Accounting Master's Program

Earning a master's degree typically takes two years. Accelerated programs cut that timeline in half, with many programs requiring around 12 months.

During an accelerated accounting master's program, you'll complete around 30 credits of graduate coursework. Most programs split the coursework into core accounting courses and specialized classes. These classes develop your technical expertise in an accelerated format. Depending on the program, that could mean taking a higher course load each term, completing classes on an accelerated schedule, or enrolling year-round.

A one-year accounting master's is different from a bachelor's-to-master's accounting degree. Also known as 4+1 programs, they admit junior accounting majors who begin graduate-level coursework in their senior year to complete a bachelor's and master's in accounting in five years. In contrast, accelerated master's in accounting programs do not require you to earn a bachelor's degree at the same institution.

Degree and Concentration Options

Accounting graduate students can choose between several degree and concentration options. Accounting programs may award an MA, MS, or MAcc, and business schools often offer an MBA in accounting. Accelerated programs typically award an MAcc, or master's in accountancy.

Many accountants earn a master's degree to specialize their knowledge and skills. Accelerated programs most frequently offer public accounting concentrations. This specialization prepares future CPAs for the CPA exam and licensure.

Accelerated programs also offer concentrations in management accounting, auditing, financial reporting, and other specializations. These specializations can lead to roles in auditing, finance, and management.

Admissions Process

Accelerated programs often set higher admission requirements than traditional programs to ensure that students can succeed in a fast-paced schedule. These programs also typically do not admit part-time students.

Many programs either require or recommend a bachelor's in accounting. Accounting majors bring the foundational knowledge required for an accelerated master's degree. Some programs admit business majors who complete a certain number of accounting credits. Non-accounting or business majors may need to take prerequisite courses in accounting, auditing, and accounting information systems before applying.

Accelerated programs may also require a higher GPA. For example, programs may set a 3.2 GPA for upper-division accounting courses. Other common admission materials may include GRE or GMAT scores, letters of recommendation, a resume, and a statement of purpose. Check out our GMAT guide for resources on preparing for the exam.

Popular Accounting Master's Courses

Master's students typically complete core accounting courses and electives. Core courses may include financial accounting, auditing, accounting information systems, and accounting theory. Electives allow students to focus their course of study based on their career goals and interests. Compared with a traditional program, accelerated programs may offer fewer elective options.

Depending on the program, you may take courses on a traditional term. However, some accelerated programs use longer class sessions or accelerated terms to speed up the degree. For example, instead of a 15-week semester, you may complete courses in a 5-10 week term. While the curriculum varies depending on the program, many incorporate the following courses.

• Managerial Accounting: Learn how to leverage accounting and information systems to achieve organizational objectives. Graduate students develop decision-making and management skills, including implementing accounting strategies that align with short-term and long-term goals. Many states require managerial accounting classes to become a licensed CPA.
• Advanced Financial Reporting: This course enhances the practical skills of public accountants and other accountants required to report financial information. It covers U.S. generally accepted accounting principles (GAAP) reporting requirements and examines the theory behind reporting regulations. Graduate students develop their financial accounting research and decision-making skills.
• Data Analytics: Accountants increasingly rely on data analytics to develop information systems and create financial documents. In an accounting data analytics course, graduate students transform raw data into useful information. Topics include data analytics techniques, identifying reliable data sources, and interpreting analytics output. The course develops analytical, research, and decision-making skills.
• Corporate Tax Strategy: Explore the impact of tax strategy on earnings, cash flow, and operations. Grad students examine tax planning approaches for corporations, including organizational structures, business formation, and mergers. Through real-world examples, accountants develop decision-making and strategic skills for careers in corporate taxation.

How Much Do Accelerated Master's Degrees Cost?

Completing a master's degree can increase your earning potential. However, the cost of a master's degree will directly impact your return on investment. That's one reason grad students choose accelerated programs. You'll decrease the opportunity cost of a graduate degree by finishing in one year and entering the job market sooner.

Graduate school costs an average of $20,500 per year in tuition and fees, according to 2021-2022 data from the National Center of Education Statistics. However, costs vary widely, with public universities charging an average of $12,600 per year while private institutions cost nearly $30,000.

In addition to tuition, you'll need to factor in the cost of textbooks, certification expenses, and other expenses. Fortunately, you'll qualify for several forms of financial aid by choosing an accredited institution. You can submit the FAFSA to qualify for federal student aid. You can also apply for accounting scholarships and grants.

Common Questions About Quick Accounting Degrees