Most Affordable Online Master’s in Accounting Programs of 2022

Boost your career with an advanced degree in accounting. This guide was made by the higher education experts at BestColleges and explores the top 10 most affordable accounting master's programs for 2022.

by Staff Writers

Published on January 25, 2022 · Updated on April 26, 2022

Reviewed by Lizzette Matos, CPA

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Online master's in accounting programs prepare graduates for an array of career choices, including tax auditing, corporate management, financial information systems, and investigative or forensic accounting. The field is growing for accountants and auditors.

Many of the nation's finest business schools now offer affordable master's in accounting (MAC) programs completely online, giving students the opportunity to continue working while they earn credit toward their degree. Master's degree-holders tend to be more desirable than accountants with only undergraduate degrees. Corporations from all over actively court master's-level accountants before they even finish school. A master's may also be required to sit for certain certification exams, such as the Certified Public Accountant (CPA) exam.

Accountants understand the importance of getting the most value for their dollar, including dollars spent on education. Students should consider what they receive for their investment, and make a holistic evaluation of affordability. That's why we've ranked the following online MAC programs using our unique college affordability score, which accounts for variables like the quality of education, total cost, financial aid opportunities, and potential future earnings.

Affordable schools often provide a better return on investment. They demonstrate track records of providing rigorous academic experiences for an affordable cost, and their graduates earn salaries that make paying back their loans relatively simple.

What Can I Expect From an Online Master's in Accounting Program?

Many of the most affordable online master's in accounting programs are also the highest quality. Details vary by school and program, but applicants can expect similar application procedures, concentration offerings, and coursework as part of their accounting degrees. The length and cost of each program also varies, but the following section includes general estimates of completion times and tuition prices for a master's degree.

Admission Requirements for an Online Master's in Accounting

Applicants to online accounting master's programs need a bachelor's degree. Some master's programs specify that applicants must possess a bachelor's degree in business, finance, accounting, or a related major. However, many welcome applicants with bachelor's degrees in other subjects. Additionally, schools generally require that students earn their bachelor's degrees from an institution with regional accreditation.

Some schools may require previous work experience, but many of the most affordable online master's in accounting degrees do not. Completing a master's provides graduates with a broad scope of lucrative job opportunities. Minimum GPA requirements can vary widely, though most of the best master's in accounting programs prefer a minimum 3.0 GPA. Many programs do not require GMAT or GRE scores. However, those that do may waive this requirement for applicants with a bachelor's degree in accounting, extensive work experience, or a GPA above the school's minimum requirement.

Sample Concentrations for an Online Master's Degree in Accounting

Taxation

Online MAC programs offering a taxation concentration introduce students to critical income, estate, and sales taxation principles and practices. Students develop a mastery of auditing, financial reporting, and tax law for corporate, nonprofit, and individual clients. Graduates also qualify to sit for the CPA exam.

Careers This Concentration Prepares For: Accountant, auditor, tax director

Auditing

The auditing concentration within an online master's degree in accounting prepares students to follow Sarbanes-Oxley federal requirements in their career, and introduces the latest auditing technologies and techniques. The curriculum emphasizes coursework in advanced auditing, ethics in accounting, and detection and prevention of fraudulent financial statements.

Careers This Concentration Prepares For: Compliance auditor, internal auditor, accountant

Forensics

Students concentrating in forensic accounting as part of an online MAC program study fraud investigation, specifically related to bankruptcies, contract disputes, mergers and acquisitions, and complex financial agreements. Aspiring forensic accounting experts also learn how to use forensic financial evidence in the prosecution of white-collar criminals.

Careers This Concentration Prepares For: Forensic accountant, investigative accountant, fraud examiner

Management

The management accounting concentration teaches students to strengthen business and leadership aspects of their role as an accounting manager. Coursework prepares students to lead teams of employees, including at the managerial/executive level, to improve financial productivity and efficiency within an organization. Graduates qualify to sit for the CMA exam.

Careers This Concentration Prepares For: Certified management accountant, controller, accounting director

International

Online MAC programs in international accounting train students to practice accounting and comply with tax laws in a global environment. Coursework explores how international taxation and accounting regulations compare to U.S. systems. Graduates possess a mastery over foreign exchange rates, related financial risks, and management of global financial systems.

Careers This Concentration Prepares For: International accountant, international auditor, international tax accountant

Sample Courses for an Online Master's Degree in Accounting

Financial Reporting: A crucial skill in any accounting occupation, a course in financial reporting provides students with a comprehensive understanding of international accounting, consolidation reporting, SEC regulations, and reporting practices. Financial reporting coursework at the graduate level also trains students in advanced tax preparation for individuals and corporate clients.

Advanced Auditing: Coursework in advanced auditing builds on a student's prior knowledge of auditing principles and practices, introduced at the undergraduate level. Topics include common auditing errors, auditing follow-up protocol, and ethical concerns specific to this occupation. Most courses in this subject incorporate a combination of case studies, current auditing research, industry promotional materials, and student-led presentations.

Business Law: This course examines the law in the context of business, stressing the importance of legal compliance and ethical practice in the corporate decision-making process. Topics include contracts, product liability, tort litigation, and internet and employment law. A necessary component of many accounting careers, business law courses also often explore international rules and regulations.

Globalization and Managerial Economics: Coursework in globalization and managerial economics explores and compares international taxation laws, financial reporting methods, and accounting practices. Students develop a critical understanding of the global marketplace, essential to aspiring international accountants and domestic tax and finance experts alike.

Corporate Financial Management: This course provides an in-depth exploration of financial management from a corporate perspective, examining capital structure, corporate policy, portfolio management, budgeting, and global executive markets. Students develop a working knowledge of risk-assessment methods specific to corporate finance shareholder valuation.

How Long Does It Take to Get an Online Master's in Accounting?

While completion times for the most affordable online accounting degrees vary, most students complete a master's degree in two years. Many online schools offer the degree in an accelerated format, which typically takes less than 24 months to complete. Most online accounting master's degrees do not include residency requirements, but students who choose to complete courses on-campus may take longer to earn the degree.

A master's in accounting comprises roughly 60 course credits. Students must consider whether to pursue a part- or full-time schedule, and may choose either a self-paced or cohort learning program. Many schools follow self-paced learning models for increased flexibility. In other cases, cohort-style learning requires all students to move through the program in lock-step.

How Much Does an Online Master's in Accounting Cost?

As with any degree program, the cost of even the most affordable online master's in accounting varies. Each school dictates its own fees for tuition, which may vary depending on whether students are in state or out of state. Some programs may also include fees for services and facilities used exclusively for online learning, such as technology fees, test proctoring, and virtual labs.

Applicants should always research tuition prices at their preferred schools, and explore their own personal financial aid options to understand the full cost of earning a master's in accounting. The average required tuition and fees for graduate school during the 2018-19 academic year was $19,314, according to the National Center for Education Statistics.

Certifications and Licenses a Master's in Accounting Prepares For

Certified Internal Auditor

The Institute of Internal Auditors offers the CIA credential to accountants who conduct internal audits within corporations. CIAs typically work in the audit department of government agencies, financial institutions, or corporations. Candidates pursuing the CIA certification are required to earn at least a bachelor’s degree, pass a three-part exam, and have at least two years of work experience in a field related to internal auditing.

Certified Management Accountant

The Institute of Management Accountants offers CMA certification to candidates aiming for executive financial management positions. The CMA exam tests students' expertise in financial reporting, performance, control, and planning, plus their financial decision-making skills. IMA requires aspiring CMAs to hold a bachelor's degree in accounting or professional accounting certification, complete at least two years of work experience, and pass the exam to obtain certification.

Certified Public Accountant

The American Institute of CPAs offers the CPA credential to aspiring public accountants through individual state boards of accountancy. AICPA provides the same universal exam to all CPA candidates regardless of location, but test-takers may need additional education or experience, depending on their state of residence. Most states require at least a bachelor's degree and two years of professional experience to take the CPA exam, which comprises four, four-hour sections.

Chartered Financial Analyst

The CFA Institute offers the CFA credential to students who aspire to work in portfolio management and high-level investment analysis. Candidates must hold a bachelor's degree and pass a three-part CFA exam. They must also complete four years of experience working in investments and become a member of the CFA Institute to obtain their charter and become CFA-certified.

Additional Requirements for an Online Master's in Accounting

While largely technical in nature, most online master's degrees in accounting include some additional requirements, such as an internship, and culminate in a capstone or thesis. Most master's-level accounting internships encompass three credits, which students complete through placement in a local accounting firm or financial institution. Some programs even coordinate paid internships. An online master's in accounting typically concludes with a capstone course in lieu of a thesis requirement.

Related Programs That Might Interest You

Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.

Accreditation for Online Master's in Accounting Degrees

Students beginning their school search should narrow their options to only include accredited programs. Colleges and universities may hold regional or national accreditation through a recognized accrediting agency.

Either type of accreditation is acceptable, but regional accreditation is generally more common and preferable among many top schools. In some cases, colleges with regional accreditation only accept transfer credits from other regionally accredited institutions. Students should confirm their school's accreditation status through a legitimate agency overseen by the Department of Education U.S. Department of Education (ED) or the Council for Higher Education Accreditation (CHEA).

In addition to institutional accreditation, the Association to Advance Collegiate Schools of Business (AACSB) gives accreditation to many business schools and some of the nation's top affordable online master's in accounting programs. Programmatic accreditation does not replace institutional accreditation, but AACSB recognition highlights many of the industry's most relevant and valuable accounting programs.

Employment Outlook for Master's in Accounting Graduates

Master's in Accounting Salary

Employment for accounting graduates varies by location, employer, and individual requirements. As with most occupations, candidates with advanced degrees and professional experience qualify for the most lucrative jobs in the fields of accounting and finance. Many accounting careers pay salaries that are well above the national average, with common salaries ranging from $65,000-$85,000 or higher.

Master's in Accounting Careers

Graduates with an online accounting master's degree can pursue a variety of career paths and fields of expertise. Aspiring accountants with an eye for detail should demonstrate dexterity in crunching numbers, and have a thorough understanding of mathematical functions. With qualifications exceeding the minimum education requirement for most entry-level jobs, candidates with a master's degree can pursue advanced positions in fields including accounting, auditing, and finance management.

Accountant or Auditor

Accountants and auditors prepare and thoroughly examine taxes and other financial records, respectively. They help ensure individuals and corporations can follow financial rules and regulations and operate efficiently and lawfully. Accountants must obtain CPA certification through their state board to file SEC reports — another critical requirement. Most employers accept candidates with their bachelor's degrees and CPA certification, but master's degree holders may qualify for advanced positions in finance.

Median Annual Salary: $73,560 (May 2020)
Projected Growth Rate: 7% (2020-2030)

Budget Analyst

Budget analysts help clients manage their finances by evaluating their spending habits, drafting or amending their budget, and monitoring their expenditures. These professionals may work for public or private institutions, ranging from large corporations to individual business owners. Most budget analyst employers require at least a bachelor's degree, though some government agencies may also require the certified government financial manager credential.

Median Annual Salary: $78,970 (May 2020)
Projected Growth Rate: 5% (2020-2030)

Cost Estimator

Cost estimators help estimate the money, labor, time, and materials necessary to complete a project, make a product, or provide a service. Most budget estimators work in construction, manufacturing, or auto repair. Employers prefer candidates with a bachelor's degree in finance, business, or a related field, plus work experience in their area of expertise.

Median Annual Salary: $66,610 (May 2020)
Projected Growth Rate: 1% (2020-2030)

Financial Analyst

Financial analysts help clients make informed investment decisions by analyzing the risk and performance of bonds and stocks, and make investment recommendations to improve the overall health of clients' financial portfolios. Candidates should hold their bachelor's in finance, accounting, mathematics, statistics, or economics. Some employers may require a FINRA license for sales positions, while others may sponsor CFA certification for new-hires.

Median Annual Salary: $83,660 (May 2020)
Projected Growth Rate: 6% (2020-2030)

Financial Manager

Financial managers oversee all financial operations of an organization, corporation, or private client. They help their clients reach long-term financial goals by drafting finance reports, advising on investments, and creating a budget with a focus on overall financial health. Candidates should hold a bachelor's degree and work in accounting, security, sales, or financial analysis for at least five years to pursue this career.

Median Annual Salary: $134,180 (May 2020)
Projected Growth Rate: 17% (2020-2030)

Source: BLS

Professional Organizations

Joining a professional accounting or finance organization can provide students with benefits not available anywhere else. Students often receive discounted membership rates as an incentive to join a professional organization while still earning their degree. Members enjoy perks including networking opportunities, continuing education courses, and career placement services. The following represent some of the largest and most reputable accounting and finance organizations.

AICPA claims the largest membership of accounting professionals in the world, providing services such as career guidance, industry certification, and continuing education since 1887. The organization offers free membership to student affiliates, including scholarship opportunities and member discounts.

NSA offers benefits to both active and associate members, providing year-round tax assistance, advocacy support, and access to industry publications. Members also enjoy a 15-month membership for the price of one year, and discounts on insurance and cybersecurity software and services.

IMA offers four types of student membership: academics, professionals, and staff, all employees within an organization. IMA emphasizes career development and professional networking opportunities, and awards certification to qualified candidates aspiring to the CMA or CSCA credential.

CIMA represents the largest membership of professional management accountants in the world. The organization promotes career development and continuing education through membership, with perks including access to the Future of Finance series and Financial Management magazine.

MGI Worldwide provides member benefits with a global focus, open to all accounting professionals and especially helpful to current and aspiring international accountants, auditors, tax managers, and consultants. Serving diverse members and clients around the world, the organization offers unique multicultural networking and career opportunities.

Financing Your Online Master's in Accounting Program

Most U.S. college students rely on financial aid to help fund their degree. Regardless of a student's major or socioeconomic status, they may qualify for one or multiple financial aid resources. Common options include federal funding, scholarships, grants, and work-study. To see if they qualify, students should complete the Free Application for Federal Student Aid (FAFSA) every year, which determines their eligibility for many forms of educational funding.

AN OVERVIEW OF FINANCIAL AID

Approximately two-thirds of today’s college students rely on loans to fund their education, but there are plenty of overlooked financing options you can use to reduce your overall student debt.

UNDERSTANDING THE FAFSA

Completing the Free Application for Federal Student Aid (FAFSA) is a crucial first step for any student with financial needs. Our FAFSA guide features a step-by-step rundown on the process and answers to several frequently asked questions.

FINANCIAL AID FOR ONLINE STUDENTS

Financial aid for online learning is equivalent to what you’ll find for campus-based learning, but that hasn’t always been the case. Learn about the changes that have taken place, as well as the different funding opportunities available to online students.

SCHOLARSHIPS FOR SINGLE PARENTS

Online college programs can be a flexible, affordable option for single parents who are interested in earning a degree and securing their family's financial future. We've compiled a list of scholarships, grants, and other financial aid options geared toward single moms and dads.

FINANCIAL AID FOR VETERANS AND ACTIVE MILITARY

Millions of dollars in free money is available to U.S. military personnel, but much of it goes unused. Learn more about grants, scholarships, and other financial aid opportunities available to veterans, active-duty service members, and reservists.

Scholarships for Online MAC Programs

Goldberg-Miller Public Finance Scholarship

Who Can Apply: The Government Finance Officers Association provides this scholarship to aspiring government accountants and finance professionals. Students must show evidence of full-time enrollment in a graduate program, in a course of study related to state, local, or government finance. They must also provide a letter of recommendation with their application.
Amount: $20,000

View Scholarship

AICPA John L. Carey Scholarship Award

Who Can Apply: AICPA sponsors the Carey Scholarship, providing financial aid to applicants with a background in liberal arts or a nonbusiness field who plan to enroll in a graduate accounting program and pursue CPA licensure. Applicants must hold an undergraduate degree from a regionally accredited school and student affiliate membership in AICPA. Eligible graduate programs receive AACSB and/or ACBSP accreditation.
Amount: $5,000

View Scholarship

NABA National Scholarship Program

Who Can Apply: The National Association of Black Accountants presents this award to black applicants who hold active NABA student membership. Students must show proof of enrollment in a full-time undergraduate or graduate program in business, accounting, or finance, and hold a minimum 3.3 overall and 3.5 major GPA.
Amount: $1,500

View Scholarship

NABA Member Scholarship Award

Who Can Apply: NABA offers the Member Scholarship Award to recipients with similar qualifications through the NABA National Scholarship Program, in a wider range of cash awards. Applicants must be black NABA members and enrolled in a full-time undergraduate or graduate program in accounting, business, or finance. Students must demonstrate an overall GPA of at least 3.3 and a major GPA of at least 3.5.
Amount: $1,500-$3,000

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AICPA Scholarship for Minority Accounting Students

Who Can Apply: AICPA grants this award to applicants who belong to a minority racial or ethnic group, and are enrolled in a full-time undergraduate or graduate accounting degree.
Amount: Up to $5,000

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Frank L. Greathouse Government Accounting Scholarship

Who Can Apply: GFOA presents this scholarship to students pursuing careers in accounting for local or state agencies. Applicants must show proof of full-time enrollment in an upper-level undergraduate or graduate program.
Amount: $10,000

View Scholarship

Feature Image: Kiyoshi Hijiki / Moment / Getty Images

Most Affordable Online Master's in Accounting Programs of 2022

How We Rank Schools

At BestColleges, we believe a college education is one of the most important investments you will make. We want to help you navigate the college selection process by offering school rankings that are transparent, inclusive, and relevant for online students.

Our rankings are grounded in a few guiding principles and use the latest statistical data available from trusted sources. Read our Ranking Methodology. We hope our approach helps you find the school that is best for you.

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#1 Online College in Texas

The University of Texas Rio Grande Valley

School Information
Location	Edinburg, Texas
Admission Rate	80%
Graduation Rate	46%
Accreditation	Yes Southern Association of Colleges and Schools Commission on Colleges
Percent Online Enrollment	51% Percentage of all students who are enrolled online.

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100% Online | Scheduled Classes

Avg. Cost per Credit

In State | $472

Out of State | $472

Credits to Graduate

Program Information

Program Accreditation | N/A

UTRGV offers an accelerated online master's in accounting. The program prepares learners for the Certified Public Accountant Exam in 12 months. Degree-seekers can take 12 elective credits in areas like auditing, taxation, and fraud examination. Students complete classes in advanced accounting, business law for accountants, and professional ethics.

Applicants need academic experience in accounting and a minimum undergraduate 3.0 GPA. UTRGV requires transcripts and GMAT scores.

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#2 Online College in North Carolina

University of North Carolina at Chapel Hill

School Information
Location	Chapel Hill, North Carolina
Admission Rate	23%
Graduation Rate	91%
Accreditation	Yes Southern Association of Colleges and Schools Commission on Colleges
Percent Online Enrollment	12% Percentage of all students who are enrolled online.

School Information
Location	Old Westbury, New York
Admission Rate	78%
Graduation Rate	48%
Accreditation	Yes Middle States Commission on Higher Education
Percent Online Enrollment	16% Percentage of all students who are enrolled online.

School Information
Location	La Jolla, California
Admission Rate	89%
Graduation Rate	29%
Instituation Type	Private
Accreditation	Yes Western Association of Schools and Colleges Senior Colleges and University Commission
Percent Online Enrollment	53% Percentage of all students who are enrolled online.

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Hybrid Options | Scheduled Classes

Avg. Cost per Quarter Unit

In State | $442

Out of State | $442

Credits to Graduate

45 quarter units

Program Information

Program Accreditation | N/A

NU offers a flexible master's in accounting degree that features fully online and hybrid options.

A foundational track helps learners with no accounting background. Experienced accounting students can choose a more advanced track. Both paths finish with a capstone that explores cases in accounting and auditing.

Applicants need a bachelor's degree and a minimum 2.5 GPA. Applicants with lower GPA scores may submit GMAT or GRE scores for consideration. NU interviews prospective enrollees.

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Attending graduate school allows you to conduct research and gain critical skills for your career. Learn about the pros and cons of earning a graduate degree.

Looking for financial aid for graduate school? Check out this guide for scholarships and other financial aid options.

Follow our five simple steps for how to prepare for graduate school and get tips on the best ways to start off the semester smoothly.

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Most Affordable Online Master’s in Accounting Programs of 2022

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What Can I Expect From an Online Master's in Accounting Program?

Admission Requirements for an Online Master's in Accounting

Sample Concentrations for an Online Master's Degree in Accounting

Sample Courses for an Online Master's Degree in Accounting

How Long Does It Take to Get an Online Master's in Accounting?

How Much Does an Online Master's in Accounting Cost?

Certifications and Licenses a Master's in Accounting Prepares For

Additional Requirements for an Online Master's in Accounting

Related Programs That Might Interest You

Accreditation for Online Master's in Accounting Degrees

Employment Outlook for Master's in Accounting Graduates

Master's in Accounting Salary

Master's in Accounting Careers

Professional Organizations

Financing Your Online Master's in Accounting Program

AN OVERVIEW OF FINANCIAL AID

UNDERSTANDING THE FAFSA

FINANCIAL AID FOR ONLINE STUDENTS

SCHOLARSHIPS FOR SINGLE PARENTS

FINANCIAL AID FOR VETERANS AND ACTIVE MILITARY

Scholarships for Online MAC Programs

Most Affordable Online Master's in Accounting Programs of 2022

#1 Online College in Texas

The University of Texas Rio Grande Valley

#2 Online College in North Carolina

University of North Carolina at Chapel Hill

#3 Online College in California

California State University-Sacramento

#4 Online College in California

Golden Gate University-San Francisco

#5 Online College in New York

SUNY College at Old Westbury

#6 Online College in North Carolina

North Carolina State University at Raleigh

#7 Online College in Florida

University of Miami

#8 Online College in Illinois

University of Illinois at Urbana-Champaign

#9 Online College in Colorado

Regis University

#10 Online College in California

National University

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