Accounting Masters in US

This section will address how to select which program you should attend.

MOTIVATIONS FOR DEGREE

Accountancy is often referred to as the universal language of business. Along with Finance (please refer to our tip sheet on Finance for more information), this field is uniquely positioned to touch many aspects of Business. Companies and organizations are increasingly relying on qualified accountants to drive their profit margins and help them understand the nuanced dynamics of financial success, while governments and policymakers are looking to accountants to help combat issues like climate change through solutions such as ‘cap and trade’ and carbon taxes. If you are good with numbers and interested in a career in the business world, a degree in Accounting may be a good choice for you. Students pursuing a degree in Accounting will study many business topics, including accounting, taxes, auditing, and control. With a degree in Accounting, you may pursue jobs in consulting, government agencies or business organizations.

Careers

Note: The careers mentioned below are based on information from US-based sources, so they may be more relevant for US citizens and the US job market. This means that if you plan on working in the US as a non-US citizen, you may face different job prospects (as compared to US citizens). It also means that the job prospects in Pakistan may be different, too. For this reason, we recommend that you inquire and research the career pathways this degree has to offer in the Pakistani job market.

For Master’s Applicants:

Whether you want to hone your fluency in the language of accounting or you’re looking to undertake a career change, a Master’s in Accounting could be for you. Your Master’s in Accounting degree should put you in good stead to commence either Ph.D. research or a lucrative career. Almost all businesses, organizations and government agencies require some form of accounting assistance, and they look to both freelance consultants and dedicated staff accountants for this service. These companies source accountants from a variety of places, including public accounting firms. Some potential Master’s in Accounting careers include:

Risk Assessment
Assurance
Tax
Commercial Finance
Corporate Finance
Corporate Recovery
Corporate Treasury
Financial Accounting
Forensic Accounting
Internal Audit
Management Accounting
Public Sector Accounting

Additionally, the field has the following concentration of employment: Legal & accounting activities, Financial services, Public administration, including governance, defense & security, and Education, including academic research. Generally, every level of society, no matter how small or large, needs accountants.

Visit Career Outlook for Masters Degrees in Accounting or Master’s in Accounting – Careers to further investigate about careers in accounting.

For Ph.D. Applicants:

The sacrifice of a Ph.D. in Accounting comes with your reduced work abilities. Due to the intense nature of a Ph.D. program in Accounting, most students are unable to work more than part-time; many do not work at all. Many just take on research assistantships or teaching assistantships for undergraduate classes, which pay considerably less than a standard accounting job. However, assuming that a student is willing to sacrifice for 4-7 years, their long-term income growth will far exceed what they could make without a Ph.D. in Accounting.

While no ongoing licensure is required for a Ph.D. in Accounting, you may be required to produce original research to maintain your position at a university after graduating. One job opportunity for Ph.D. candidates includes becoming a teacher for Accounting, either while you are studying for the degree or after graduation. A search on just a handful of job sites can reveal several pages listing hundreds of open positions for full- and part-time accounting professors, assistant professors, visiting instructors and touring lecturers. The demand includes tenured and adjunct positions.

Useful links:

Some excellent links to career information include:

TYPES OF DEGREE

In a nutshell, the following degrees are available for Accounting:

Master of Accounting (MAcc or MAc)
Master of Professional Accounting (MPAcy, MPA, MPAc or MPAcc)
Master of Science in Accounting (MSA).
Master’s of Business Administration in Accounting (MBA in Accounting)
PhD in Accounting
- Behavioral
- Archival

Graduate Accounting Certifications (CPA):

How do graduate accounting certificates differ from other accounting degrees?

Graduate accounting certificate programs tend to be shorter, cost less, and cover a more specific range of subject matter. If your time is short and you know what you want to accomplish, this is a more affordable way to get qualified. Graduate accounting certificates ensure you get the information you need to succeed in an easily digestible and effective manner.

PROGRAM SELECTION

How to select the best option for yourself (among degrees/programs within this field)?

For Master’s:

When considering various degree options, it is important to consider each degree’s/program’s admission requirements, course content/structure, and course goals and then compare these with your background, study needs and future goals. You should apply to programs that satisfy your needs as a student and future professional in the field.

Degree background: If you have an undergraduate degree in Accounting, then the MS or MAcc degrees may be more suitable for you (such degrees usually expect students to have such an undergraduate background in the field. If, however, you do not have such a background, then you can focus more on a Master of Professional Accounting or MBA in Accounting degree (these degrees usually accept students with most, if not all, humanities-based backgrounds).
Study goals of gaining specialized knowledge in Accounting: The MAcc, MPAcy and MSA degrees provide specialized knowledge in Accounting, with a few courses teaching general Business principles. There are also more opportunities to specialize in key areas within the field, such as taxation, etc. (sub-fields are listed in the section below). Such training means that students pursuing these degrees will have more thorough knowledge about Accounting practice and theory, as compared to MBA Accounting students.
- When choosing your Masters in Accounting topics, you may be able to emphasize an accounting, finance or business focus or opt for a more balanced program. As a graduate-level course, the Master in Accounting allows you to formulate a highly specialized and personalized degree with a narrow focus. If you wish, you can also select a more general degree covering a wider range of interests, but you will eventually have to choose a specific topic on which to focus for your research project.
Study goal of learning Business and Accounting: If you are interested in learning business principles alongside certain courses giving you specialized knowledge in Accounting, then this is a good option. It largely depends on your interests (whether you have an interest in studying Business, too) and about your career aspirations (whether you are confident that you want to pursue a career in Business). This degree prepares students for business-related careers in Accounting. The degree often involves an internship component and is generally considered to be more of a practical and professional degree. Additionally, often such degrees target students who do not have an undergraduate background in Accounting (e.g., students who have a background in liberal arts, etc.) or for students who majored in Business in their undergraduate studies. As compared to the other Accounting degrees, this degree is more generalist in nature – not just focusing on Accounting but also incorporating Business principles.
Choosing from the range of accounting college courses: There are lots of great schools out there to choose from, so how do you go about picking the right one? The College Guide is here to help you answer the tough questions and find the best accounting college courses. This web page helps you decide whether an online or in-person program is better for you – both are great options and it just depends on what you’re looking for. It reviewed many of the best accounting programs in the US and outlined some of the top accounting schools for different kinds of students. If you know where you want to live and want to find a school in that state, you can also see the catalog of schools by state, which will give you an idea of the best options in your favorite location.

For PhD Applicants:

Before formally applying to a school, understand what type of program the school offers. Some schools are primarily archival-based, others are primarily behavioral, and some are a mix of both.
- Most incoming students base their choice on whether they believe they can succeed in the archival coursework, which is heavy on math theory, advanced calculus, finance and economics. The archival path is the most popular, judging by the number of articles published in top accounting journals. Archival courses (so-called because the data for these studies have been archived, as in stock prices) are primarily based on economics and finance. A strong background in mathematics is necessary for this path.
- The behavioral path is based primarily on psychology. Students on this track study how and why people make decisions, as well as other psychology-based topics. Many schools state that they offer both types of programs, when in reality, they may have eight to 10 professors who work in one style and only one or two professors who work in the other. When you speak to people at individual schools, be sure to ask about specific numbers of professors in different areas or look it up for you.
Another consideration is which academic area of accounting (audit, tax, financial accounting, etc.) interests you. Most of these areas can be studied from an archival or behavioral point of view, but not every school has professors who do research in each of these areas. You may be interested in tax, for instance, and the school to which you are applying may have high-quality tax professors. However, if you are interested in behavioral tax research and all of the tax professors at that school do archival-based tax research, the school may not be a good fit for you.
Another variable is the stability of the faculty. If you are applying to a school with only one tax professor who is active in research and that professor were to leave (either through not getting tenure, taking a position at another university or retirement) before you graduate, it could throw a major wrench into your plans. Therefore, it is wise to consider not only the number of professors in your area but also how long they have been there, whether they are tenured and, if ascertainable, the chance that they will remain for your entire time there.
After you choose what research type you want to do, make a list of schools that match. Take a look at this paper to help in that process. It ranks schools according to publications by topic and methodology. The authors are currently working on an interactive website that will make searching even easier. The American Accounting Association put together some information that may help as well. It gives average GMATs, graduation rates, placement, and other useful information about each school.

FIELD/SUB-FIELD SELECTION

Forensic Accounting
Public Accounting
Auditing and Compliance Accounting
Governance Accounting
Tax and Payroll Accounting
Tax Research
Individual Income Taxation
Energy Financial Modeling

How to select the best option for yourself (among specializations and sub-fields within this field)?

Though essentially it comes down to where your interests lie, you should consider specializations in which they have strengths. For example, you need to take your academic background into account to an extent. You should think about your background and related strengths and skills gained from it when considering which specialization you should go into. Additionally, you should also consider that different specializations are likely to lead to different career pathways – so you should keep career aspirations in mind when deciding between specializations. We recommend you to inquire and research about this before applying.

ALLIED FIELDS

If you are interested in Accounting, you might also like:

Finance
Economics
Business
Management

How to select the best option for yourself (among allied fields)?

Whether you study Accounting or other similar fields, such as the ones listed above, depends on your interests and your career aspirations. We recommend that you critically consider the content of this tip sheet and otherwise research about other relevant things regarding undergraduate study in Accounting and decide whether the field is good for you. You should also check out our tip sheets on the fields above to see whether they suit you more or if they fit your academic background more than Accounting.

Finance or Accounting?

The popularity of FAME subjects (Finance, Accounting, Management, and Economics) comes from their vital role in the world of business, particularly the first two letters of the acronym. Accounting and Finance. Without accountants, financiers and economists, businesses would go bankrupt quicker than you can say ‘liquidity problem.’ But should you study finance or accounting? Read on for an in-depth comparison of both subjects to help you make a decision…Accounting Vs. Finance: Which Should You Study? And study A Guide to Graduate Accounting and Certifications.

ACTION-STEPS/RESOURCES

No. of Universities to Apply: Apply to all the programs that, in your opinion, will make a fine researcher out of you and where you are likely to be happy for 5 years. It costs about $50-$100 per application, and most applications require similar materials. So go ahead and apply to as many programs as you like; applying to as many as 15 to 20 programs is quite common. If you are slightly unsure, apply anyway. Once you are admitted you can then talk to professors in the department before attending.

Top programs:

Note that the ranking of a university should not be the only factor considered when choosing universities. Though rank is an important thing to keep an eye out for, there are many other things that you should consider when choosing amongst universities/programs (some of which are explained above in the ‘Program Selection’ section).

Here is the complete list of the Best Accounting schools in the USA.

Top program by specialty: make sure to check the ranking of programs based on their specialty subfield in Accounting. Some accounting Ph.D. programs offer a focus on finance, marketing, organizational management, real estate or operational management.

Complement the above field-specific tips with general tips on program selection (under the tab of ‘selection’).

A lot of our tips talk about how you can strengthen your application, but you can build a stronger application when you’ve done the things this program values in the years prior to the application. The application itself is the communication part (in which you communicate what you’ve done to the admission committee), but this section gives guidance on the substance part (what you can actually do before you apply). In this section, we talk about what you can do in the years leading up to applying that can make you an ideal candidate. Supplement the following tips with general tips (under the tab of ‘Pre-Application’) to become a competitive applicant.

ACADEMIC EXPERIENCES/BACKGROUND

Degree Requirement:

A degree in finance, accounting or a cognate subject area is required by most universities. Some Ph.D. programs in accounting require a bachelor’s degree in accounting, business, economics or finance. Other programs allow you to obtain an undergraduate degree in any subject as long as you satisfy prerequisite courses, which typically include a fundamental accounting course, calculus, linear algebra, statistics, and probability. Some institutions only accept professionally qualified accountants onto the Masters in Accounting program and will specify the accreditations they accept.
- As mentioned before, MBA in Accounting programs and MPAcy programs are usually more accepting of students who have an undergraduate degree in Accounting.
If you have not taken accounting-based courses, then depending on your previous education, you may need to take extra courses to strengthen your background knowledge of accounting, mathematics or finance before you start your master’s degree. This could be through a summer school program or a distance learning or an online learning scheme. This applies to students whose bachelor’s degrees did not include a substantial amount of accounting-based courses, students who wish to switch disciplines entirely, and students who have been out of academia for too long.

Coursework and Transcripts:

Econometrics. A comprehensive survey of the general linear regression, autocorrelation, errors in variables and distributed lag models.
Financial theory. Primary emphasis is on the theory of financial asset valuation. Topics include utility theory, investor reaction to uncertainty, and cost-of-capital theory.
Cognitive psychology. An intensive examination of theoretical and empirical evidence concerning mental processes in the adult human, including memory, language and problem-solving.
Regression and correlation/Statistics. Simple linear regression, elementary matrix algebra, multiple regression, analysis of variance, stepwise regression and partial/multiple correlations are among the topics covered.
Calculus I, II, III, and Linear Algebra because you will need to be good at all of those topics before you even step foot into a doctoral program.
Also, Auditing; Data mining; Micro & macro Economics Theory; Managerial accounting; and research & qualitative methods.
Having said all of that, in a nutshell, the Ph.D. in accounting is really about statistics, mathematics, economics, econometrics, psychology, programming, finance theory, reading tons of papers in academic journals and, oh yeah, writing. Pure accounting is the backdrop for all of this, but it’s often a second thought.

Dual Major Recommendation

A minor in mathematics is highly recommended alongside an accounting major because a strong background in mathematics is necessary for this path.

GPA Requirement:

Average: A GPA of 3.3 or above is required, but if you have impressive professional experience in accounting, then lower GPAs may be accommodated.

RESEARCH EXPERIENCES

For PhD Applicants: Get into the research. Read Accounting Journals. Keep track of the papers you thought were interesting and try to figure out what topical areas (e.g., financial, audit, tax, managerial, systems) you are interested in and what methodology (e.g., archival, experimental, analytical) you enjoy the most.
We encourage you to seek out ways to distinguish yourself as a researcher. If you do find yourself in a research group, ask your advisor (Professor, graduate student, or postdoc) if you can present your research at local, regional or national conferences. There are MANY conferences happening year-round in Pakistan; check the Research Conference Calendar.
Is previous research experience necessary? No. However, previous exposure is useful and gives the admissions committee some confidence that you know what you are getting into. If you are still in school, then it’s strongly recommended to work with faculty members on an existing research project and possibly submit a paper at a conference or a minor journal. Few applicants have publications when they apply, but those that do seem to have an edge in their application process. With increasing competition for limited spots, this is a good way to gain an edge. Research experience can also sometimes make up for other deficiencies in your application.

PROFESSIONAL EXPERIENCE

How important is work experience?

For Master’s Applicants: Two years of work experience in accounting is required by most universities.

For Ph.D. Applicants: Very little. This is simply because your corporate performance is a poor indicator of how successful an academic you will be. Having said that, work experience in recognized companies seems to give admissions committees some indication of your caliber but does not influence their opinion in a major way. Having said that, significant work experience can be a major source of ideas when it comes to dissertation time.

VOLUNTARY/ SOCIAL WORK

Does not carry much importance in this field.

OTHER EXPERIENCES/BACKGROUND

Try to spend time working with a statistical software package of some sort — PASW, SAS, MATLAB, R, or Stata. For one big branch of accounting research (archival), you will actually have to turn yourself into a good programmer capable of working with messy datasets.

Requisite skills to achieve success in this field are:

Able to work for a longer duration in analyzing financial and environment computing area
Strictly adhere to different accounting procedures and regulations
The knack of understanding of accounting procedures
Advanced knowledge of accountancy software
Highly analytical skills
Strong communication skills
Impeccable mathematical abilities

TIMELINE

What you should be doing, timeline-wise, as an undergraduate Accounting student?

Actually, you began preparing for graduate school on the day you entered your undergraduate program. Hence, you need to consider the following actions/steps to be a successful graduate applicant.

Timeline	Notes
During your Freshman Year:	Declaring your major. It is important to explore your options and find your passion – that’s what college is all about. However, when the point comes that you realize you want to pursue accounting as your major above all else, don’t hesitate to settle down. Declaring a major doesn’t set your future in stone, but it often opens up doors that are not available to undeclared students. In addition, sometimes certain levels of prerequisite classes are specifically required for a major in accounting – you don’t want to have to take two variations of the same classes, right? Plus, once you know what you want to do, why hesitate? By searching for an internship early on in your academic career, you not only gain experience that you will use as a professional accountant, but you will also expand your network of contacts for your life after your academic years. And don’t simply give up without trying. So make sure to apply accordingly. This will help you to get on the track on time.
During your Sophomore & Junior Year:	This is the time to really get serious and begin your quest for advice. First Semester: You should be working on two main things: (1) Gain internship experience in the Big Four Accounting Firms in Pakistan or other relevant places. (2) Study for the GRE/GMAT. Second Semester: You should arrange a talk/meeting with advisors and your seniors about accounting graduate school opportunities and decide whether graduate school is the right path for you. Also, take both the GRE/GMAT.
During your Senior Year:	Continue talking to your advisors and seniors to get any additional/specific information about applying to the Accounting graduate schools. Also, start searching for your possible research/internship supervisor who you think would be the best fit as your supervisor and mentor (the most important person in your academic life). Also, by the end of the senior year, students should make time to build relationships with more than one professor in the Accounting/Business department. Students should get to know at least two other professors in their related field department really well. You always need three letters of reference later on, anyways. So plan ahead accordingly.

All above-mentioned activities will help you develop the skills you need to be a successful graduate applicant and beyond. The sooner you take charge of your own professional development, the better you will ensure your success as a future Master’s or Ph.D. Accounting student.

This section provides an overview of general guidelines pertaining to the application process. It also delineates the key components of the application process.

GENERAL ADVICE

Requirements for admission vary from program to program, so you will need to research what each program requires before submitting an application. Most, but not all, accounting programs prefer or require significant undergraduate coursework in accounting, often the equivalent of a major or minor. In addition, many graduate programs prefer students with substantial professional experience.

In a nutshell, the following sub-fields and/or degrees are available for Accounting: Accounting and consumer society; Accounting regulation; Accounting, strategy, and information technologies; Carbon accounting; Financial accounting; Healthcare and social care accounting and accountability; History of accounting and calculative practices; Management accounting; Market-based accounting research; Social studies of accounting and accountability; The accounting profession.

Refer to the Program Selection Section for further information.

TIME-LINE

Component	Is this component required?	How important is this component (in the overall review of the application for admission)?	Notes on timelines (if applicable)
Overall Application Deadline			Submit early. Mostly, you will have all of your applications in by mid-December. This will give you plenty of time to write your statements of intent, rearrange your school list, etc. Don’t wait until the last minute.
Standardized tests or entry exams	General GRE – Required by most programs GMAT – Required by some programs	Very Important	Spend 3 months preparing for the test. Take the test 2 months (in October) before the app. deadline. Test scores are usually due before the overall app. deadline.
Transcripts (past academic records)	Required	Important	Request transcripts from school 1 month (in early November) before the app. deadline.
Letters of recommendation	Required	Very Important	Letters are usually due same time as the overall app. deadline. Request letters 2-3 months before the letter submission deadline.
Personal Statement	Required	Very Important	Start preparing statement 4 months before the app. deadline. Spend 2 months in writing/ revising the personal statement.
Resume or CV	Required	Very Important	Spend 1 month in writing/ revising resume/CV.
Interviews	Required	Very Important
CPA (Chartered Public Accountant)	Optional	Important

At this point, if you are seriously considering graduate school, you can consider buying Getting What You Came For: The Smart Student’s Guide to Earning an M.A. or a Ph.D., and following guidebooks/web pages:

Or if you want an overview of “Getting What You Came For”, here is a summary.

Complement the above field-specific tips with general tips on overview (under the tab of ‘overview’).

Applicants suffer most because of inadequate information — or wrong information — about essays and personal statements. This section will address those inadequacies specifically in relation to applying for this program. Supplement the following field-specific tips with general tips (under the tab of ‘essay’) to craft a stellar personal statement.

BASIC INFORMATION

The recommended length for the statement is 2 single-spaced, 12-point font pages. It is advised not to make the statement longer.

TIPS ON GOOD AND BAD STATEMENTS

What is essential in the statement:

Know your goal or purpose. Before you sit down to write, you’re going to have to do some serious introspection. Talk about what makes you interested in accounting. What sparks your interest? What aspects of what is possible for you to accomplish with an accounting degree make you excited? What do you plan on doing upon receiving your degree? You should be able to break down your goals into short-term and long-term goals and describe each in detail.
It is, indeed, important to make a case for your leadership skills, especially when you are applying to programs that relate to the business world (as opposed to those focusing on liberal arts). In the content and in the very composition of your essay, it is crucial that you demonstrate sharp thinking, clear communication, the ability to distill and present information in a compelling and effective manner, and the capacity to bring your unique strengths to executing tasks and projects.
Talk about previous projects or work experience you’ve had that is relevant to accounting. Passion and interest are great, but if you can show that you’ve actually done something about them already, that is even more powerful. Based on what you know of accounting, what kinds of activities, positions and accomplishments do you have under your belt that can show that you’d do well in accounting?
Prove that you’ve analyzed your experience. Your experience in the past should both contribute to the achievement of your goals and provide you with the insight to realistically create your goals. In other words, make sure you’ve thought (and then written) about how your experiences have shaped and will continue to shape your future. If your goals are wholly unconnected to your experience, that may raise a red flag. Connect the dots from experience to purpose by either starting your essay with a vision for the future and then circling back to explain how your achievements today combined with the education provided by Top Choice Accounting School will help you achieve that vision, or start with an achievement and then show how that has motivated you to pursue your goals, and how Program X meets your needs perfectly. If this goal represents a change in direction, discuss transferable skills that you will bring both to the study of accounting and the pursuit of your dreams.

What are bad statements/ what things to avoid:

In general, it’s recommended that you avoid listing accounting grades and scores in any admissions essay — unless explicitly requested by the essay prompt. Keep in mind that you are submitting an entire application. The admissions committee can look elsewhere to find a detailed account of your grades and scores. The essay, meanwhile, is your golden opportunity to showcase aspects of yourself that have not been communicated in any other part of the application.

This section will cover the basics about recommendation letters, which are one of the most important parts of the application process. Supplement the following field-specific tips with general tips (under the tab of ‘recommendations’) to ensure you have strong letters of recommendation.

BASIC INFORMATION

Your letters of recommendation are extremely important. Those letters show the admissions board whether or not you’re suitable for the school. Your letters of recommendation are extremely important. Those letters show the admissions board whether or not you’re suitable for the school.

ACTION-STEPS/RESOURCES

Before requesting your recommenders for LoR, go over the following links carefully:
- How Important Are Letters of Recommendation When Applying to a Master in Accounting Program?

TIPS ON GOOD AND BAD LETTERS

What is essential in the LoRs:

The best people to write a letter of recommendation for international students applying for admission to accounting degree programs are:

Someone who knows you well and can speak honestly and truly about your abilities to perform well in a particular program. This may be a teacher, coach, boss, leader, or someone else who can speak to your talents and character, which your success in an accounting degree program will draw on.
Someone who has a background in accounting, perhaps an accounting teacher or someone who has served for significant portions of their career in accounting or as closely related to the field as possible.
Someone who has spent time in, or is significantly familiar with both your country (and perhaps language of origin and English), as well as in the U.S. This will mean they’ll be able to speak to the connection between your background generally, but specifically academically, in terms of how it will connect to accounting degree programs in the US.
Someone who is specifically familiar with the school you’re applying to institutionally or has worked professionally with faculty or staff at that school, thereby giving the author of your letter credibility in what they say through that established relationship.

This section will cover everything else related to the application process, including transcripts, interviews, resumes, and standardized tests.

INTERVIEWS

Basic Information:

Interviews are one of the most important components when it comes to graduate school in accounting. This is because there is a lot of competition in this field and there are limited seats available. Admission committees want to admit students who are already familiar with the financial world.

Interview Tips:

Demonstrate a genuine interest in the graduate program to which you are applying, drawing on activities you have been involved in (such as online trading games, finance societies at university, entrepreneurial ideas, programs run by firms of accountants, etc.).
Talk passionately about the reasons you wish to pursue this field. Show an interest in world events and their effect on the financial world.
Come prepared with a variety of examples of where you have shown certain skills and competencies – from different areas of your life, not just academia. Demonstrate a good understanding of what competencies and skills would be required for the research/thesis.
Before your interview, make sure that you are well informed about the University and its accounting/business department, the accounting industry and the business world generally:
- Read the finance pages of a good quality broadsheet newspaper for a couple of weeks leading up to the interview, and also read accounting journals.

Complement the above field-specific tips with general tips on preparing for interviews (under the tab of ‘interview’).

RESUME/CV

Basic Information:

A graduate CV should never be longer than two pages. The structure of your CV is up to you; you should choose headings and a structure that you believe will most effectively convey your skills and experience.

Resume/CV Tips:

You should start the application process off with an Accountant cover letter. This cover letter needs to be brief – only a few sentences long and needs to contain some important information.
- First of all, you need to highlight the exact field that you are applying for and give an indication that you would like to be considered for the research of the Accounting faculty of the University.
- Also, say why you feel you are suitable and why you think you would enjoy the role. Remember not to give too much information about your experience and education because you will be talking about that in your Accountant Resume.
- Your cover letter should lead the admission committee to your resume. Finish the letter by reiterating your strong desire to be considered for the field, and remember to give reference details.
Accountant’s Resume should be all about your Education. This should run in reverse order, starting with the most recent qualifications you have received. If there are any specific accountant qualifications that you have picked up during your working career, these should supersede any other qualifications. Make sure you go into plenty of detail about any of your qualifications that relate to the field to which you are applying.
Resume Length: One of the most “commented on” issues was the length of the resume. Two pages are ideal as this gives the ideal amount of information to busy recruiters. Anything less is too short and shows signs that you don’t have enough experience and skills. Anything more than two pages could be seen as excessive and a waste of time.

Complement the above field-specific tips with general tips on building a resume (under the tab of ‘Resume/CV’).

STANDARDIZED TESTS

Basic Information:

Some programs prefer the GMAT, whereas others accept the GRE. In most cases, your test scores cannot be longer than 5 years old. Additionally, as an international student, you will be required to provide English language proficiency scores (TOEFL/IELTS).

Tests Needed:

General GRE
GMAT (some institutions)
TOEFL

Resources:

General GRE:

According to the ETS chart the average GRE scores of applicants with an intended major of Accounting are Verbal: 149, Quant: 153, Analytical: 3.5.

The above scores are intended major. What does “intended” major mean? It simply means that these are the average scores of people planning on applying to graduate school in a specific major.

Moreover, using a scale drawn from the limited score data in the US News & World Report’s report on graduate schools, here are the average scores of admitted applicants to Business graduate program:

	GMAT	PERCENTILE	GRE RANGE
All	545.6	50th	300-314
Harvard	724	94th	326-330
Stanford	729	96th	328-332
Penn Wharton	718	94th	326-330
MT Sloan	710	92nd	324-330
Top 10	717.6	94th	326-330
#11-25	691.5	84th	322-328
#25-50	666.3	84th	318-326
#51-100	621.1	69th	310-322

Source: GRE scores for Business programs – Magoosh GRE Blog

Remember that you will be applying to a hard science program, so applying to graduate school is anything but easy; this is just a “good-enough” approach that should put you in a decent position to create the appropriate study goals. So, if you’re interested in a Masters/PhD in Accounting from MIT, then this is a good place to start.

Test Tips:

GMAT scores are typically used as primary filters. Various schools will have a rough idea of the scores above, which they will be really hard-pressed to admit applicants (this can be as high as 730 for the top 5 schools to 600 for schools outside the top 30). In general, if you are aiming to get into a top 5 school, target a score of 750+. The quantitative section of the GRE tends to be important for those who choose to apply via that route, and scores of 790 or 800 are very common. Pakistani applicants who have been successful in the CAT will find this relatively straightforward to do with sufficient effort. Also, aim for a quantitative score in the 95+ percentile. Not achieving these targets is not the end of the world, but it makes your task that much harder.

Complement the above field-specific tips with general tips on preparing for standardized tests (under the tab of ‘tests’).

FINAL COMMENTS ON APPLICATIONS

Check with your chosen accounting Ph.D. program to determine if a master’s degree is required. Some programs prefer applicants to have completed graduate work or to have worked or conducted research in the accounting field prior to applying.

If applying for a PhD during your senior year of undergraduate, PhD programs will consider applicants who are applying directly out of their undergrad. However, your profile overall will need to be stronger in terms of mathematical preparation and GMAT score than the average applicant. A lot of the people you will be applying against will have either a master’s degree or work experience and a CPA and oftentimes will have both in accounting. So yes, schools will consider your applicants, but you probably have a bigger uphill battle compared to others.

Complement the above field-specific tips with general tips on final comments on applications (under the tab of ‘overview’).

This section will cover the approximate costs of the program and provide information of resources that may help with funding. Complement the following field-specific tips with general tips on finances (under the tab of ‘finances’).

TIPS ON FUNDING OPTIONS

There are scholarships available. The AICPA offers scholarships for Ph.D. students to try to increase the number of incoming accounting professors. The KPMG Foundation provides scholarships for minority students in a PhD program. Other scholarships and grants may be available through your school. Since the majority of Ph.D. accounting students are Caucasian males, there are many scholarships available for women and minorities. Go through various Grants, Fellowships and Awards and List of Accounting Scholarships to know about the available funding in Accounting in 2016.

The following sources were consulted in developing this tip-sheet and we encourage you to consult these sources for additional information and guidance on your application.

Issues in Accounting Education by American Accounting Association

The Commission on Accounting Higher Education: Pathways to a Profession by American Accounting Association Commons
Student Guide for Earning a Masters in Accounting by Masters in Accounting Blog

Furthermore, the following sources were also consulted in developing this tip-sheet: How to get a Ph.D. in Accounting by World Wide Learn; Ph.D. in Accounting by All Accounting Careers; Pursuing a Ph.D. in Accounting: Walking in With Your Eyes Open by Journal of Accounting; Masters in Accounting – Course Guide by Top University Course Guide; What is the difference between a Master’s in Accounting and an MBA in Accounting? by Top Accounting Degrees; So you want a Ph.D. in Accounting by Financial Accounting Standards Research Initiative