2023 Best Online Accounting Bachelor's Degree Programs

What Is a Bachelor's in Accounting Degree?

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 typically learn standard bookkeeping practices and other accounting functions through practice. Coursework often presents students with simulated financial records and bookkeeping situations that they must work through and resolve. In the process, students master the use of industry-standard accounting information systems.

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 also 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. 

Degree Requirements

Bachelor's in accounting programs require the completion of approximately 120 credit hours. 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.

Courses

While course titles may differ from school to school, 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. 

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

Admissions

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

What Can You Do With a Bachelor's in Accounting Degree?

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. 

Accounting Specializations

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.

Further Education

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.

Accounting Careers

After earning a bachelor's degree in accounting, graduates can follow a number of different career paths. Many go to work in one of the four primary areas of accounting, which are 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. 

Accounting and finance professionals may also want to pursue 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. 

Financing Your Bachelor's Degree in Accounting

Before enrolling in a bachelor's in accounting program, you may want to calculate how much you can afford to pay for your degree. This information may be very useful in helping you select a college. You may also want to estimate an accounting degree's return on investment, meaning the total cost of earning the degree as compared to your potential lifetime earnings.

Cost

Our list of the best online bachelor's degrees in accounting reveals that tuition rates vary, but the College Board's 2022 report provides some useful figures. The report states that the average annual tuition fee for four-year public schools is $10,940 and for four-year private schools is $39,400. Some schools, however, charge lower fees for online accounting degree programs than they do for on-campus programs. The College Board also estimates that students spend an average of $1,240 on books and other supplies each year. 

Financial Aid

Both online and traditional students are eligible for financial aid. Even if you don't think you're qualified, experts recommend that all students submit a Free Application for Student Aid (FAFSA) to see if they can obtain some financial assistance.

Financial aid is available in many forms and comes from a variety of sources. Once you've submitted the FAFSA form, you'll be notified by mail if you qualify for aid provided by the federal or state government or from the school itself. Grants and scholarships are preferred because these types of aid generally don't need to be repaid, unlike student loans that must be repaid with interest. There are also many privately sponsored scholarships — some specifically intended for accounting students — but you'll need to submit separate applications for them.

If you're offered a student loan, it's important to know the difference between the two major types. Each has its own benefits and drawbacks, but federal student loans offered through the government are usually preferred over private student loans offered by banks and lending institutions. Federally funded loans tend to have lower interest rates and more accommodating repayment terms.

What Else Should You Consider?

If you're debating which major to choose, you will naturally want to consider whether an accounting degree will equip you for the kind of career you envision for yourself. Specifically, you'll want to choose a school and program that offers the specialization that interests you most. You may also be thinking about attending graduate school, so make sure the program you select prepares you for advanced study.

It's also important to choose an accredited school. Accreditation proves that a college or university has met established standards of excellence. In general, you need to be enrolled in an accredited program in order to receive federal financial aid and transfer credits between schools. The U.S. Department of Education and the Council on Higher Education Accreditation each offer a current list of accredited schools. If you're considering pursuing a master's degree and becoming a CPA, you'll want to take special care in choosing a program that has been accredited by the Association to Advance Collegiate Schools of Business (AACSB).

Additionally, you'll want to decide whether to pursue a degree online or on campus. Online accounting degree programs are usually more flexible in terms of schedules than traditional programs, which may make them more suitable for busy students. However, some programs may feature synchronous classes that require you to log on at specific times, rather than asynchronous classes that you can engage in anytime. Students who require more structure and accountability may prefer on-campus classes.

FAQs About Bachelor's in Accounting Programs

Bottom Line

For those who enjoy math and numbers, accounting may be the ideal college major. Earning a bachelor's degree in this subject opens the door to a number of interesting occupations, and it also provides a strong foundation for those who want to pursue an advanced degree and earn potentially more lucrative salaries. In general, accounting is a solid career choice with a steady job outlook.