What is a Master of Accountancy?

A master of accountancy is a graduate degree that focuses on the theory of accounting. Accounting is the study of financial transactions and is a very complex subject, with impacts on every aspect of our lives. Certified Public Accountants (CPAs) have an undergraduate or bachelor degree in accounting. They are also required to obtain a combination of specific courses and relevant education to work as an accountant.

There are four aspects to a master of accountancy program: subject matter, course expectations, research, and educational institution. All four aspects are central to making the most of this educational opportunity. This program is only available from accredited universities, and will most likely be found in institutions with a strong postgraduate management or MBA school.

The subject matter covered in a master of accountancy program include accounting theory, accounting for financial instruments, systems design and advanced auditing. These areas are covered in the bachelor of accounting or management programs, but are explored in much greater detail in this program. The work covered here is critical in the development of new accounting theory and guidelines to accommodate new types of investments and financial reporting,

The course offerings available differs between different universities. When selecting a school, investigate the lead professors in this faculty and look up their research specialty. This information is available on the business school’s website. Actual articles can be found in the Journal of Accountancy and other specialized publications.

All master of accountancy students are required to complete at least two major research projects. The purpose of this research is to expand the breadth and depth of knowledge in the field of accounting. Accounting is a very active subject with relevance in everyone’s daily life.

When selecting a university for this program, look at the other programs offered by the business school. Explore the opportunities to obtain a PhD in management, accountancy or commerce. Look at the transfer credits and application requirement for other, related programs. Many people obtain a master's of accountancy and then apply some of those academic credits toward a Masters of Business Administration.

After obtaining this degree, many people find employment in economic think tanks, government agencies, educational institutions and policy development organizations. Academic roles often lead to the publication of books or other works. Other options include combining this education with world economic policy knowledge and positions with the United Nations, World Bank or International Monetary Fund.