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Master’s in Accounting vs. MBA in Accounting

by | Dec 22, 2020 | Education, Finance

A master’s degree in Accounting can surely give your career the desired boost. A master’s degree can enhance curriculum vitae and can be one of the most prominent points. Education qualification is one of the major criteria that companies focus on while considering a candidate. A Master’s degree in accounting can not only make you more eligible for a high post but also can get you more income as well. A recent study reveals that people who opt for a master’s in accounting earn up to more than $400,000 in their lifetime. However, selecting an apt program for a master’s in Accounting in competitive markets such as Singapore is highly essential. A little negligence or lack of research while deciding a Master’s course can affect the exposure and the perks associated with it.

Let’s know more about the Master’s in Accounting and an MBA in Accounting:

 

MBA in Accounting

One of the most popular and widely recognized courses is an MBA in Accounting. It comprises in-depth industry knowledge as well as accounting principles. The curriculum of an MBA in accounting is huge. It covers all the major aspects of accounting right from a study of global markets, import-export regulations, taxation and other statutory topics. MBA provides you with a detailed overview of the accounting sector and makes you prepare for the outer world.

Striking features:

  • Concepts: MBA in accounting has wider concepts and detailed perspective. It provides a comprehensive idea about how the industry works, what are the vital elements of accounting and much more.
  • Financial Analysis: Analysis is one of the major aspects of accounting. MBA concentrates on different analytical skills and tactics. 
  • Technical Skills: MBA in accounting also focuses on augmenting the technical skills of the students and making them future-ready.
  • Practical approach: MBA is one of the rare courses that gives importance to the practicality of the subject rather than just the theory aspect.

 

Master’s in Accounting 

Master’s in Accounting is very much similar to an MBA in accounting, however, the only difference between the two is that the former provides more exhaustive and specialist knowledge of the field. In countries like Singapore, a Master’s in accounting is highly preferred while considering a candidate for a job. Master’s in accounting offers more precision and aims at building vital skills. Master’s in Accounting is a contemporary approach and prepares students for all the accounting needs of the business. 

Striking features:

  • Risk management: Master’s in Accounting gives significance to performance and risk management. It consists of several tactics and concepts that can aid one to manage and forecast any risk.
  • Business Analysis: One of the most important roles of an accounting professional is financial and business analysis.  Master’s in Accounting augments and develops analytical skills.
  • International accounting: Master’s in Accounting gives utmost emphasis on international accounting process and litigations. It makes one concoct for international accounting challenges.
  • Advanced accounting system: Today companies are looking out for employees that are agile and have adequate knowledge of advanced accounting systems. Master’s in accounting widely covers this topic and makes one acquainted with several accounting systems.

The Bottom Line

MBA in Accounting and Master’s in Accounting both have a great scope in the Singapore Market. Both of them can play a vital role in giving your career the desired edge and escalate your career graph as well. After all, a specialization in the relevant field can surely prove to be a significant step for a bright accounting career.