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Accounting is a profession that's been around for centuries. Accounting practices have evolved over time; today, accounting degree programs in the U.S. teach students the generally accepted accounting principles (GAAP) used by organizations, banks, and regulatory agencies. 

Accounting majors, whether online or in-person, typically learn standard bookkeeping practices and other accounting functions through practice. Coursework often presents students with simulated financial records and bookkeeping situations they must work through and resolve. In the process, students master the use of industry-standard accounting information systems. Undergraduate students often have the chance to specialize in areas such as taxation, forensic accounting, or management accounting.

While many courses provide a close-up view of accounting methods, other courses in an accounting curriculum ask students to step back and assess the big picture of an organization's finances. Students learn how to interpret the meaning of financial data and how the information can be used to make strategic decisions regarding revenue, expenses, assets, and liabilities.

In addition to bachelor's degree programs, students can pursue other types of accounting degrees, such as associate degrees, master's degrees, and doctorates in accounting. Undergraduates who intend to become Certified Public Accountants (CPAs) should probably plan to pursue a master's degree in accounting. Although you're not required to have a master's degree to become a CPA, you are required to have 150 credit hours of higher education (30 credits more than a bachelor's degree), which most CPA candidates achieve by earning a master's degree. 

Students pursuing graduate-level degrees explore accounting concepts at a much more advanced level while also taking classes in research methods. For instance, they may study international tax regulations, professional auditing procedures, fraud, and advanced cost accounting. Additionally, graduate students complete a thesis, which often involves presenting original research on accounting theories and principles.

Bachelor's in accounting programs online require the same completion of approximately 120 credit hours as the in-person equivalent (sometimes up to 124 credits). And similarly, about half of the required courses cover general education subjects, such as literature and chemistry, while the other half are core courses and electives in accounting. 

Most full-time students take four to five years to complete a program, while part-time learners may need more time. However, some schools offer accelerated online accounting programs that may take students two to three years to complete. 

Some programs may require students to complete accounting internships to gain real-world experience before graduating. Externships are also recommended because they help students explore career options and potentially choose an area of specialization.

Some colleges offer accelerated online programs. With these programs, students enroll in back-to-back terms, each lasting six to eight weeks, which enables students to graduate in less than four years.

While the curriculum varies based on the type of accountancy degree an individual is enrolled in, undergraduate students generally spend their first two years meeting major requirements by completing coursework in microeconomics, macroeconomics, business, and statistics. In the subsequent two years, they take professional accounting classes such as financial accounting, accounting information systems, tax law, and government accounting. During this latter period, students may also have the chance to specialize in areas such as taxation, forensic accounting, or management accounting. Most programs expect students to complete a capstone project in their final year — often in the form of a research paper or presentation — in which they apply their accountancy knowledge to a real-world scenario.

The following are some of the common online courses you may find in a typical accounting degree program:

• Auditing: Through case studies and problem sets, instructors will demonstrate how to design, apply, and evaluate an audit. Topics may include common audit standards, tests and controls, and statistical samplings.
• Corporate Taxation: This course focuses on the theories, policies, and procedures behind federal income tax. Students learn how taxation applies to corporations, estates and trusts, gifts, and partnerships, as well as how to plan in order to meet tax needs. 
• Cost Accounting: Students will become familiar with the roles of accountants in areas such as decision-making, cost behavior, cost planning, and cost methods. They'll learn to see how to apply basic cost accounting concepts, using technology to develop financial deliverables, evaluate data, and communicate findings.
• Financial Management: Students are instructed on how to apply financial management analytical techniques for decision-making. Content may include formulating financial objectives and policies, planning and control, asset management, capital budgeting, and securities valuation.

Course titles may differ from school to school, but all accountancy programs are designed to meet standard learning objectives and outcomes. Core courses help you hone critical and analytical thinking skills, standard accounting procedures, and general business and communication competencies. 

Not all colleges set the same deadlines, but in general, prospective students should submit their applications as early as the November of the year preceding the fall semester when they plan to start attending classes. While each school may require a slightly different set of documents, most require applicants to provide the following items in addition to an online application:

• Official high school or GED transcripts, usually with a minimum GPA of 2.5-3.0
• SAT or ACT scores
• A personal essay
• One to three letters of recommendation from teachers, coaches, or other mentors
• A resume or list of extracurricular activities, jobs, and volunteer activities

Students can study accounting at the associate, bachelor's, master's, and doctoral levels. Those pursuing a four-year undergraduate credential have additional options and can choose among several different types of accounting degrees. These degrees vary in terms of the emphasis they place on accounting theories and principles, with accounting majors typically completing different educational requirements to graduate. 

Students at the bachelor's level also have the option to pursue a professional accounting degree that focuses exclusively on preparing graduates for employment in the field. Depending on their area of interest — and future career options — students may consider enrolling in one of the following accounting programs at the bachelor's level.

Bachelor of Arts (BA) in Accounting

• A BA covers fundamental accounting principles, introducing students to the core concepts of assets, liabilities, capital, income, and expenses. Generally considered a liberal arts degree, this credential allows students to explore arts and humanities subjects as well. Individuals may minor in subjects such as history, English, and philosophy, thus gaining a broader undergraduate education. While a BA can qualify graduates for entry-level positions in accounting, it may also prepare them for jobs in other fields depending on their choice of coursework.

Bachelor of Business Administration (BBA) in Accounting

• The BBA differs from a BA in that it is designed to give students a more business-focused education. Students have the option to major in accounting while taking elective coursework in business management areas such as marketing or human resources. Individuals with a BBA in accounting may graduate prepared to work in a business setting or pursue an MBA.

Bachelor of Science (BS) in Accounting

• A BS is meant to give students a foundational understanding of accounting theories and how to apply these in various business and non-business settings. Unlike a BA or BBA, students enrolled in a BS program complete most of their coursework in accounting and usually take required classes in financial reporting, advanced mathematics, business, and data analysis. While they have the option to take elective classes outside these areas, students largely concentrate on studying accounting-related concepts. Graduates with a BS may be well-positioned for careers as financial analysts in many different industries.

Bachelor of Accountancy (BAcc)

• The BAcc is a highly specialized degree which trains students to become professional accountants. Learners take classes exclusively in business and advanced accounting topics, and often choose a specialization such as wealth management or taxation. A BAcc is therefore considered a first professional degree that is meant to equip graduates with the knowledge and skills necessary to enter the accounting field. It may also be a suitable option for those who are determined to gain their CPA license or want to pursue a master's in business.

Graduates with a bachelor's degree in accounting have several career options. They can move directly into the workforce as accountants or take on one of the more specialized roles in accounting, such as auditor or tax preparer. They can also move into finance roles. Those who want to become CPAs will need to continue with their education in order to meet the certification and licensure requirements. Graduates can also choose to pursue further education, whether in accounting or another field. 

Many graduates go to work in one of the : public, private, government, and accounting education. The job functions are often similar but are performed for organizations with different purposes, stakeholders, and reporting obligations.

• Employees in public accounting often work with clients on a contract basis and may work for a dedicated accounting firm, such as Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG.
• Private accountants perform financial analysis for one company or business.
• Government accountants, including state auditors, work for government agencies.
• Accountants who work in education teach, conduct research, and train students to become accountants.

Graduates may also consider one of several occupations within the field of finance. They may find employment in consulting firms, large corporations, banks, and financial institutions, working in roles such as personal financial planner, financial analyst, or chief financial officer. 

Finance professionals may also want to pursue accounting and finance certification. Some certifications are required, while others are voluntary or preferred by employers. Earning certification demonstrates your commitment to professional development as well as your high level of skill in a particular area. 

Some schools allow you to specialize by focusing your accounting program studies in an area of interest, which may give you a competitive edge later when you're building your accounting career.

• Tax Accounting: Tax accounting narrowly focuses on planning for taxes and preparing tax documents. Tax accountants prepare and file tax returns for businesses and individuals by following the Internal Revenue Code. They also look at taxes in the context of an organization's or individual's financial situation to identify opportunities to reduce taxes.
• Assurance and Auditing Accounting: Assurance and auditing accounting refers to reviewing and investigating the work completed by other accountants. These professionals look for and correct accounting irregularities. Auditors who review the financial documentation of their own organizations are called internal auditors, while auditors who review the documentation of organizations that are not their direct employers are called external auditors.
• Analytics Accounting: Analytics accounting,which is also called managerial accounting, deals with financial analysis and decision-making. Analysts take the complex data found in financial documents and make it more accessible to stakeholders. This data helps business leaders make informed decisions to meet an organization's goals.
• Forensic Accounting: A forensic accounting degree or concentration may interest those who enjoy investigating and reconstructing financial documents. Forensic accountants often work in law enforcement or for legal teams, examining accounting documentation and looking for evidence of fraud, money laundering, identity theft, and other crimes.

Graduates who hope to move into higher-level management roles within the accounting or finance fields may find that earning an advanced degree makes them more attractive job candidates. Advanced degrees help students obtain the depth of knowledge and mastery of skills employers expect when hiring for managerial positions, such as controller and chief financial officer.

• Master's in Accounting: A master's degree in accounting can increase your growth potential. Courses typically cover advanced accounting topics, such as managerial accounting, advanced tax for individuals and businesses, and advanced auditing theory. Students may also pursue a master's degree in accounting to complete the 150 credits needed to become licensed after passing their CPA exam. Some schools make it easier to gain those additional credit hours by combining a bachelor's degree with a master's degree, which is often called a 4+1 program.
• MBA in Accounting: Students who want to advance their accounting knowledge while also acquiring a broad background in general business management may want to consider earning a Master of Business Administration with a concentration in accounting. Like a master's in accounting, an MBA with an accounting focus will also prepare you to sit for the CPA exam.
• Doctorate in Accounting: Some employers may require their senior accounting executives to hold doctorates. However, graduates who earn an accounting doctorate usually become college professors or researchers. Because of the intense study and research necessary for a doctorate, those with the degree often serve as legal witnesses in cases of accounting malpractice and securities fraud. They may also work as consultants for the government or on criminal cases that need forensic accountants.

A degree in accounting is worth it for individuals who aspire to have a steady career with plenty of opportunities for professional growth. Ultimately, however, the worth of this education will vary depending on an individual's personal circumstances, financial situation, and other obligations, so prospective students should carefully evaluate these factors before deciding to enroll. They may also consider the following pros and cons of an accounting bachelor's.

Potential Benefits

• A career in accounting is considered a high-status occupation. According to the , accountants were ranked seventh in the top 10 most respected professions in the world.
• Accountants typically have a well-defined career path. This is because students graduate with a set of hard financial skills and gain on-the-job experience which makes it easier to identify jobs and future promotions. Furthermore, the accounting field remains largely unchanged, despite new financial tools and technologies, allowing graduates to chart a predictable career.

Potential Drawbacks

• An accounting degree at the undergraduate level may not be enough to advance a career in finance. Graduates will often need a CPA license to conduct audits and some states expect accountants to have a master's degree and certification for higher-level positions.
• Accountants have among the lowest job satisfaction rates in the country. Many , while others feel their skills are underutilized.