MS in Accounting for Non-Accounting Majors: What You Need to Know

A master’s in accounting (MAcc) might seem like the next logical step for people who graduated with a bachelor’s degree in accounting, but many non-accounting majors choose this program as well. Due to its versatility and value to businesses of all kinds, an MS in accounting can advance your career regardless of your undergraduate field of study.

This article will explore MAcc programs for non-accounting majors, including the career benefits, the prerequisites and what you can expect to learn.

Accountants work in all industries, including startups, Fortune 500 companies, nonprofits and government agencies. A master of accounting program for non-accounting majors can open up these career possibilities even if you’ve graduated in an unrelated field. Accountants are in high demand, with the Bureau of Labor Statistics predicting that the field will grow 6% over the next 10 years, faster than the overall average for all professions.¹

A MAcc degree will help prepare you for the Certified Public Accountant (CPA) exam, the professional licensing exam for accountants. Bachelor’s degree programs typically require 120 credit hours, but most states require 150 credit hours before you’re eligible to take the CPA exam. Getting your MAcc can give you the additional hours you need to sit for the exam and better prepare you to pass it. During your coursework, you’ll develop the financial and analytical skills you need to pass the exam and bring value to the companies you work for.²

The admission requirements for an MS in accounting for non-accounting majors will vary depending on the program. Your eagerness to learn, willingness to take on new challenges and internal motivation will be the most important contributors to your success. However, in general, you’ll need to have a bachelor’s degree from an accredited university. If your educational background is in something other than accounting, you’ll probably need to take some bridge courses to fill in the gaps in your accounting knowledge. These prerequisites will likely include courses in financial reporting, strategic financial planning and cost management and income taxes and auditing.

You may also need to submit scores from standardized tests such as the Graduate Record Exam (GRE) or Graduate Management Admission Test (GMAT), although some schools are test-optional. Additionally, your application package will usually need to include your work history, professional references and a personal essay.

Once you’ve finished your prerequisites, you’ll take a mix of foundational courses and electives. Your core courses will cover topics such as financial reporting standards and analysis. These classes will develop your ability to drive investment and financial decisions for organizations of all sizes across industries. You’ll also learn about accounting analytics and information systems, including how to use software to generate comprehensive analyses of large datasets.

In addition to the core courses, you will have the opportunity to develop specialized skills in the areas of accounting that interest you the most. These may include advanced auditing, financial statement analysis and valuation, operational and strategic decision-making, advanced taxation topics, managerial finance and advanced reporting for business entities.

A significant portion of your program will include hands-on opportunities to apply what you’ve learned through case studies, real-world scenarios, and collaborative work with other students.

You can pursue a variety of roles with an MS in accounting. A financial analyst helps senior management make financial decisions by providing insight into budgeting, spending, company assets and investment portfolios. Forensic accountants uncover fraud through detailed analyses and investigations.³

Tax accountants ensure companies comply with applicable tax laws and work to improve the company’s tax position. Accounting managers oversee accounting departments, establish departmental policies and manage employees.³

Two common certification pathways for graduates of MAcc programs include CPA and Chartered Financial Analyst (CFA). To become a CPA, you’ll need to do the following:⁴

• Complete 150 hours of education
• Work in an accounting-related field for at least one year
• Pass all four sections of the CPA exam
• Pass an ethics exam

To become a CFA, you’ll need to complete the following:⁵

• Pass all three levels of the CFA exam
• Accrue at least 36 months of qualified work experience
• Submit two to three professional references 
• Submit an application, including a professional conduct statement 

Although pursuing an MS in accounting can lead to a rewarding career for non-accounting majors, you should be aware of the challenges you may face, so you can develop a plan to overcome them. Depending on what your undergraduate major was, you may need to adjust to accounting-specific concepts and terminology. The mathematics-heavy workload can be difficult if you don’t have a background in math.

When you’re taking core courses and juggling multiple technical classes, handling new material can be demanding. This is particularly true if you’re trying to balance earning an advanced degree with work and family commitments.

However, it doesn’t have to be overwhelming. You’ve finished your bachelor’s degree, so you probably have some solid study skills under your belt. You can apply many of the same principles to succeed in your MAcc program. Start by understanding what your professor expects in each class. Carefully read the syllabus and don’t hesitate to go to their office hours if you need clarification.⁶

Your network will be one of your most valuable assets throughout your career. Start forming one early by studying with your peers. Forming a study group can help you better understand new concepts and bounce ideas around. You can also make valuable connections that will last for the rest of your life.

The Online MAcc program from William & Mary can equip you with the skills and knowledge you need to analyze, interpret and communicate the meaning behind financial data. Our rigorous curriculum is taught by industry experts.

During your classwork, you’ll get hands-on experience solving today’s challenging global business problems. You can prepare to launch a rewarding career in almost any industry in as little as 16 months.