Those who wish to seek high-level positions in the field of business may wish to consider earning a Master of Business Administration (MBA). This rigorous graduate degree provides intensive training in management, along with specialized knowledge of core areas of business. Read on to learn more about MBA programs with concentrations in accounting and finance and some common admissions requirements for these graduate degrees.
Master of Business Administration Programs
An MBA provides a graduate education focused upon gaining a broad spectrum of managerial and leadership skills for those working in business. MBA programs require all enrolled students to undertake a core curriculum of business classes, including courses such as managerial economics and marketing. Therefore, all graduates of MBA programs should have a core body of knowledge regarding basic business management concepts. In addition to these generalist courses, many MBA programs allow students to choose a specialization or concentration - such as in accounting and finance.
Full-time MBA programs in either discipline will take from one year to two years to complete. Part-time programs are also available, with a longer time period to completion. Students have a choice between on-campus and online MBA programs. Team projects, internships, and business or entrepreneurship competitions can add hands-on experience to the academic component of MBA programs. Students may also attend networking events in order to gain connections with business leaders in their area of interest.
MBA in Accounting
Those who choose an accounting specialization or concentration for their MBA program may graduate with highly-developed skills in collecting and reporting the financial data of all types of organizations. Graduates often enter careers as accountants or auditors in a variety of industries, including insurance, government, and non-profits. Specific courses that may be taken as part of an accounting major include financial reporting, taxation, and cost accounting. Graduates of MBA programs in accounting may be qualified to sit for the Certified Public Accountant (CPA) exam.
MBA in Finance
Students electing a finance concentration for their MBA studies can expect to develop specialized skills in economic analysis and financial management. Upon the completion of their degree, they could enter positions at investment or commercial banks, financial companies, or international financial institutions. Courses that may be taken as part of a finance MBA include corporate finance, investment management, and derivative securities. Those with a concentration in finance may be able to utilize highly specific business technology in order to analyze business and economic models.
Admissions Requirements
Admission requirements for MBA programs in accounting and finance will be similar. Candidates should expect to provide academic credentials including transcripts and GMAT or GRE scores. A resume should document work experience in the business field, and those with professional experience are likely to be preferred candidates. Other components of the admissions process could include recommendations, an essay or personal statement, and an interview.
An MBA with a specialization in Accounting or in Finance will allow provide students a broad overview of important business concepts as well as help them preparation for future careers in these fields. While there may be some overlap in courses, finance MBA programs general focus on investing and financial management, while account programs cover advanced accounting principles and financial reporting.
