online accounting degree

online accounting degree

Advantages of pursuing an online accounting degree

1. Flexibility and convenience of online learning

Flexibility is one of the major advantages of pursuing an online accounting degree. Unlike conventional classrooms, students can follow a flexible timetable, which means that they can balance academics with their part-time job. Generally, online accounting students can watch lectures on-demand or can even communicate with their professors through email or video conferencing. Search for an accredited program available through an institution that has financial aid programs, adheres to the highest educational standards, and offers the format appropriate to your learning style and your lifestyle, and enroll today.

An online accounting degree allows students to pursue accounting or finance degrees from the comfort of their houses. The best online accounting programs provide excellent opportunities to learn financial management, accounting and auditing, and taxation from industry experts or experienced faculty. This educational platform is a convenient way to take care of one’s finances, especially for people who are extremely busy. This article covers some of the best advantages of earning an accounting degree online.

2. Accreditation and recognition of online accounting programs

Although the technology used in education has improved in recent years, online degrees, especially in accounting, are at risk of never being accredited or being offered by dubious institutions. Before taking a decision, one should inquire which is the best institution through extensive research. In 2013, approximately 8% of accounting programs that offered online accounting degrees were accredited compared to around 86% of traditional accounting programs. And only 4% were listed in the comprehensive database of the American Association of Collegiate Registrars and Admissions (AACRAO), which compiles information on recognition or otherwise of accreditation in several higher institutions of learning. Yet still, some unaccredited programs manage to convince and enroll well over 10,000 students each year. Background research should be conducted by students who wish to enroll in an online degree program. Some of the accreditation agencies that you run to do not have institutions of higher education that adhere to academic standards and are only designed to make money.

Many online programs offered by accredited bricks-and-mortar accounting schools and universities are now being recognized. The accrediting of the online bachelor’s in accounting programs is normally performed by the regional, national or specialized accrediting institutions. The process of accreditation by online accounting programs that are being recognized is normally reviewed and approved by the Accreditation Council for Business Schools and Programs (ACBSP), Association to Advanced Collegiate Schools of Business (AACSB), and other accrediting bodies.

3. Cost-effective alternative to traditional on-campus education

No matter the measure of a student’s achievement – learning materials, field studies, research projects, or discussions with colleagues and mentors – statistics demonstrate that online education is equally effective compared to usual on-campus education. In one research, students said that, on average, they are more interested, have better grades, and in general have better conditions for the whole studying than on-campus students. Furthermore, more than half of the interviewed students and three-quarters of the lecturers said that “The online education quality today is stronger than 24 months ago. The pace of change greatly accelerates when [student’s] satisfaction is considered as a platform in the process,” claims the report.

Online education can provide an efficient and effective way to educate a vast number of students in different areas of practice, but also as an excellent way to improve the skills or gain experience after the traditional studying as well. When the internet became a “must” for every person in the world, education found its place and home online. The flexibility and, most importantly, the lower expenses have brought the modern generation toward online education. Actually, according to the National Center for Education Statistics (NCES), the average online class student spends less on tuition, even though such a student takes far more classes than the average on-campus student. The vast majority of respondents also cited lower expenses as the biggest advantage, representing the overall interest for both shorter time commitments and lower tuition.

4. Opportunities for career advancement with an online accounting degree

All undergraduate accounting degrees in the state of Kentucky have 150 hours of coursework now as a requirement for completion. Even more states will soon require this number to increase from the present 120 range. Therefore, students in states other than Kentucky will be in a much better position to complete their master’s degree at an earlier date than their competition, effectively reducing their time-to-promotion. The advantages of getting a master’s degree as part of a bachelor’s degree program are numerous. First, it significantly reduces job-hopping. Many companies hire tutoring agreements with students in the University of Kentucky program. Once they receive the mentor and funding, they are committed to staying for a minimum of three years. Many also elect to stay longer since they know that upon completion of the bachelor’s program requirements, they will be guaranteed spots in the accounting master’s program. More importantly, it ensures their place at their interview stage before the competition, often resulting in an offer for employment before the competition is finished with their interviews or before they even start interviewing.

Many individuals reach the senior executive level in a corporation or in public accounting firms with a CPA designation. But without a master’s degree, it can be difficult to be promoted into a senior executive position. Many companies are now requiring that their top financial executives each have a master’s degree as a condition to receive a promotion. Also, many smaller companies and non-profit organizations are seeking employees with a CPA in the controller and CFO positions, yet are unwilling to pay the salaries required to attract and retain someone with a master’s degree. This puts most non-CPA accounting degree recipients in a dilemma. They elect to pursue the CPA through external auditing, which for them, usually is significantly more difficult to pass, and which is a totally different body of knowledge than cost, managerial, or international accounting functions. An online accounting degree in this situation would offer additional knowledge and experience which would result in a much more positive added value to the employer initially, and eventually make it easier to be promoted into a controller or CFO position.

5. Networking and professional development resources available online

Online information and career resources can be a valuable source of networking and professional development developments at any stage in your accounting education or career. Many online forums and websites serve the accounting world, offering crucial resources for learning about firms and the industry, seeking careers, and finding mentors. These sites run the gamut from professional organizations to career advice pages to college forums themselves, but unlike networking through online schools, online accounting communities are available to all accounting students and professionals, no matter what level they are studying or working. Whether you are in high school and considering the accounting field, a college graduate working on the CPA exam, or a professional certified in the field, there is much more know-how and career advice available online than you might realize, from reputable sources with proven results.

One of the drawbacks of pursuing a degree online is the limited opportunities to network and job hunt. It stands in contrast to traditional higher education, where there are career fairs, professional organizations, internships, and cooperative education, in which students get work experience in the field. But this truth is not altogether accurate, and using networking resources available online has the potential to be a massive advantage. At online colleges, as well as community colleges and state universities, you are still able to network to some degree with classmates and professors using email, messaging, and social media. These connections can improve your job and educational prospects even before you graduate, making online networking easier to navigate than it might seem at first glance.