A CPA (Certified Public Accountant) is an undergraduate college degree. CPAs are professionals who are dedicated to applying, managing, and interpreting the accounting of an organization or person, to produce reports that serve in decision-making processes for management and third parties.
Certified public accountants´ most important function is to share extremely reliable, relevant, and timely information regarding administration.
For CPAs considering furthering their studies, an MBA is an advisable choice.
However, an MBA program does require an investment that might be considerable depending on the institution and its curriculum.
What Does an MBA Degree Cover?
A Master in Business Administration or MBA is a well-rounded graduate business degree that gives students valuable theoretical knowledge, as well as useful tools and techniques to analyze and understand everything that happens within an organization, from a business perspective.
An MBA also teaches professionals how to find possible solutions to implement for common problems and how to find answers for not-so-common issues.
It will increase your skills in administration, finance, economics, operations, logistics, marketing, information technology, and human resources. An MBA can help you boost your career or even start your own business.
Below you will find four ways certified public accountants can benefit from enrolling in an accounting MBA program:
1. Deepen Your Expertise
CPAs may be seeking to improve their abilities so they could be considered experts in their field.
A Master’s in Accounting might do something similar for them but pursuing an MBA is a great alternative for those who seek to further sharpen their business skills and grasp.
The right finance MBA program can improve students´ skills in financial ethics, advanced accounting, economics and statistics.
In addition, an MBA could also help certified public accountants not only build upon their current knowledge but also refine their managerial proficiency as they learn how to design, control, and operate accounting information systems.
2. Shift Career Direction
There is usually a preconceived notion that the vast majority of people who study a Master in Business Administration, only decide to expand their knowledge within their sector.
Nevertheless, if you are a certified public accountant who is interested in getting into a different area of business, it might be possible for you to do so with an MBA degree.
Some MBA programs offer specializations in areas such as finance, marketing, IT, analytics, and entrepreneurship. Individuals tend to have different purposes and objectives, which could motivate them to reach for alternative academic or professional goals.
An MBA can equip students with the proper skills and experience, in order for them to confidently take a step in the right direction.
3. Advance to a Leadership Position
Expanding knowledge and skills that complement experience could represent an important advantage to climb the ladder in any organization.
CPAs who start an MBA should always see it as a very profitable investment in the short, medium, and long term
Nowadays, many employers prefer to promote executives who are experts in their area and who have studies that support it, to place them in senior management positions.
Although experience is essential, quality academic training is a typical requirement in all professional areas of most companies and is highly valued in the work field.
Since they are so complete and focus on leadership together with corporate governance skills, MBAs can position CPAs in major roles like that of a Chief Financial Officer.
4. Make You More Employable
The phrase “MBA preferred” is probably one of the most used in job offers of large enterprises. Some of these companies have tailored recruiting plans with MBA-level incomes, to attract business school graduates and place them on a rotating program, so they experience different aspects of a certain business.
Certified public accountants with MBA´s could seem more employable because of their ability to think critically, deal with ambiguity, and solve complex problems.
MBAs are highly regarded worldwide and can make you more marketable, allowing you to obtain a higher salary, and open doors to professional opportunities at an international company.
For sought after CPAs, a Master of Business Administration represents a way of thinking, not just a set of financial skills and business knowledge.
How Long are MBA Programs?
The time it takes to complete an MBA degree depends on the school you attend and the type of academic plan you select.
For example, attending part-time classes takes longer than full-time, and accelerated programs typically require less time to complete than traditional ones. Executive MBA and dual degree courses also have their own length which could double if they are taken part-time.
You should always keep in mind there are excellent online MBA programs that allow attendants to become officially and internationally certified by widely recognized institutions in a much faster and comfortable way.
Here are some of the most popular types of MBA´s and their duration for full-time courses:
- Traditional MBA programs: 2 years
- Accelerated MBA programs: 12-18 months
- Part-time MBA programs: Around 3 years
- Executive MBA Programs: 12-24 months
- Online MBA: 1-2 year