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:: Accounting Degrees- Masters
Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities[1][2] such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494.[3] Accounting, which has been called the "language of business",[4] measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators.[5] Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.
Accounting can be divided into several fields including financial accounting, management accounting, external auditing, tax accounting and cost accounting.[6][7] Accounting information systems are designed to support accounting functions and related activities. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers;[8] and management accounting focuses on the measurement, analysis and reporting of information for internal use by management.[1][8] The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system.[9]
Accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial statements are usually audited by accounting firms,[10] and are prepared in accordance with generally accepted accounting principles (GAAP).[8] GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States[1] and the Financial Reporting Council in the United Kingdom. As of 2012, "all major economies" have plans to converge towards or adopt the International Financial Reporting Standards (IFRS).[11]
Financial accounting focuses on the reporting of an organization's financial information to external users of the information, such as investors, potential investors and creditors. It calculates and records business transactions and prepares financial statements for the external users in accordance with generally accepted accounting principles (GAAP).[8] GAAP, in turn, arises from the wide agreement between accounting theory and practice, and change over time to meet the needs of decision-makers.[1]
Financial accounting produces past-oriented reports—for example the financial statements prepared in 2006 reports on performance in 2005—on an annual or quarterly basis, generally about the organization as a whole.[8]
This branch of accounting is also studied as part of the board exams for qualifying as an actuary. These two types of professionals, accountants and actuaries, have created a culture of being archrivals.
Management accounting focuses on the measurement, analysis and reporting of information that can help managers in making decisions to fulfill the goals of an organization. In management accounting, internal measures and reports are based on cost-benefit analysis, and are not required to follow the generally accepted accounting principle (GAAP).[8] In 2014 CIMA created the Global Management Accounting Principles (GMAPs). The result of research from across 20 countries in five continents, the principles aim to guide best practice in the discipline.[34]
Management accounting produces future-oriented reports—for example the budget for 2006 is prepared in 2005—and the time span of reports varies widely. Such reports may include both financial and non financial information, and may, for example, focus on specific products and departments.[8]
Auditing is the verification of assertions made by others regarding a payoff,[35] and in the context of accounting it is the "unbiased examination and evaluation of the financial statements of an organization".[36] Audit is a professional service that is systematic and conventional.[37]
An audit of financial statements aims to express or disclaim an opinion on the financial statements. The auditor expresses an opinion on the fairness with which the financial statements presents the financial position, results of operations, and cash flows of an entity, in accordance with the generally acceptable accounting principle (GAAP) and "in all material respects". An auditor is also required to identify circumstances in which the generally acceptable accounting principles (GAAP) has not been consistently observed.[38]
- DIWAN, Jaswith. ACCOUNTING CONCEPTS & THEORIES. LONDON: MORRE. pp. 001–002. id# 94452.
- Weber, Richard P., and W. C. Stevenson. 1981. “Evaluations of Accounting Journal and Department Quality.” The Accounting Review 56 (3): 596–612.
- Horngren, Charles T.; Datar, Srikant M.; Foster, George (2006), Cost Accounting: A Managerial Emphasis (12th ed.), New Jersey: Pearson Prentice Hall
- Lung, Henry (2009). Fundamentals of Financial Accounting. Elsevier.
- Robson, Keith. 1992. “Accounting Numbers as ‘inscription’: Action at a Distance and the Development of Accounting.” Accounting, Organizations and Society 17 (7): 685–708.
- کشاورزی, کیخسرو (1980). تاریخ ایران از زمان باستان تا امروز (Translated from Russian by Grantovsky, E.A.) (in Persian). pp. 39–40.
- Oldroyd, David & Dobie, Alisdair: Themes in the history of bookkeeping, The Routledge Companion to Accounting History, London, July 2008, ISBN 978-0-415-41094-6, Chapter 5, p. 96
- Oldroyd, David: The role of accounting in public expenditure and monetary policy in the first century AD Roman Empire, Accounting Historians Journal, Volume 22, Number 2, Birmingham, Alabama, December 1995, p.124, Olemiss.edu
- Parker, L. M., “Medieval Traders as International Change Agents: A Comparison with Twentieth Century International Accounting Firms,” The Accounting Historians Journal, 16(2) (1989): 107-118.
- MEDIEVAL TRADERS AS INTERNATIONAL CHANGE AGENTS: A COMMENT, Michael Scorgie, The Accounting Historians Journal, Vol. 21, No. 1 (June 1994), pp. 137-143
- Lauwers, Luc & Willekens, Marleen: "Five Hundred Years of Bookkeeping: A Portrait of Luca Pacioli" (Tijdschrift voor Economie en Management, Katholieke Universiteit Leuven, 1994, vol:XXXIX issue 3, p.302), KUleuven.be
- Labardin, Pierre, and Marc Nikitin. 2009. “Accounting and the Words to Tell It: An Historical Perspective.” Accounting, Business & Financial History 19 (2): 149–166.
- Baladouni, Vahé. 1984. “Etymological Observations on Some Accounting Terms.” The Accounting Historians Journal 11 (2): 101–109.
- Pixley, Francis William: Accountancy—constructive and recording accountancy (Sir Isaac Pitman & Sons, Ltd, London, 1900), p4
- "accounting". Merriam-Webster. Merriam-Webster, Incorporated. 2013. Retrieved 30 December 2013.
- "accountancy". Merriam-Webster. Merriam-Webster, Incorporated. 2013. Retrieved 30 December 2013.
- Baiman, Stanley. 1979. “Discussion of Auditing: Incentives and Truthful Reporting.” Journal of Accounting Research 17: 25–29.
- Tredinnick, Luke (March 2017). "Artificial intelligence and professional roles". Business Information Review. 34 (1): 37–41. doi:10.1177/0266382117692621.
- Droms, William G.; Wright, Jay O. (2010), Finance and Accounting for nonfinancial Managers: All the Basics you need to Know (6th ed.), Basic Books, 2010
- "PhD Prep Track". BYU Accounting. BYU Accounting. 2013. Retrieved 31 December 2013.
- Burchell, S.; Clubb, C.; Hopwood, A.; Hughes, J.; Nahapiet, J. (1980). "The roles of accounting in organizations and society". Accounting, Organizations and Society. 5 (1): 5–27. doi:10.1016/0361-3682(80)90017-3.
- Oler, Derek K., Mitchell J. Oler, and Christopher J. Skousen. 2010. “Characterizing Accounting Research.” Accounting Horizons 24 (4): 635–670.
- Coyne, Joshua G., Scott L. Summers, Brady Williams, and David a. Wood. 2010. “Accounting Program Research Rankings by Topical Area and Methodology.” Issues in Accounting Education 25 (4) (November): 631–654.
- Chua, Wai Fong (1986). "Radical developments in accounting thought". The Accounting Review. 61 (4): 601–632.
- Buchheit, S.; Collins, D.; Reitenga, A. (2002). "A cross-discipline comparison of top-tier academic journal publication rates: 1997–1999". Journal of Accounting Education. 20 (2): 123–130. doi:10.1016/S0748-5751(02)00003-9.
- Swanson, Edward (2004). "Publishing in the majors: A comparison of accounting, finance, management, and marketing". Contemporary Accounting Research. 21: 223–255. doi:10.1506/RCKM-13FM-GK0E-3W50.
- Astrid Ayala and Giancarlo Ibárgüen Snr.: "A Market Proposal for Auditing the Financial Statements of Public Companies" (Journal of Management of Value, Universidad Francisco Marroquín, March 2006) p. 41, UFM.edu.gt
- Bratton, William W. "Enron and the Dark Side of Shareholder Value" (Tulane Law Review, New Orleans, May 2002) p. 61
Aiyesha Dey, and Thomas Z. Lys: "Trends in Earnings Management and Informativeness of Earnings Announcements in the Pre- and Post-Sarbanes Oxley Periods (Kellogg School of Management, Evanston, Illinois, February, 2005) p. 5
A master's degree[note 1] (from Latin magister) is an academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice.[1] A master's degree normally requires previous study at the bachelor's level, either as a separate degree or as part of an integrated course. Within the area studied, master's graduates are expected to possess advanced knowledge of a specialized body of theoretical and applied topics; high order skills in analysis, critical evaluation, or professional application; and the ability to solve complex problems and think rigorously and independently.
- Postgraduate/graduate master's degrees (MA/M.A./A.M., MPhil/M.Phil., MSc/M.S./SM, MBA/M.B.A., LLM/LL.M., etc.) are the traditional formal form of master's degree, where the student already holds an undergraduate (bachelor's) degree on entry. Courses normally last one year in the UK and two years in the US.[47][48]
- Integrated master's degrees (MChem, MEng, MMath, MPharm, MPhys, MPsych, MSci, etc.) are UK degrees that combine an undergraduate bachelor's degree course with an extra year at master's level (i.e. a total of four years in England, Wales and Northern Ireland, and five years in Scotland). A 2011 survey of UK Higher Education Institutes found that 64% offered integrated master's course, mostly in STEM disciplines, with the most common degrees being MEng, MSci and MChem. 82% of respondents conferred only a master's degree for the course, while 9% conferred a bachelor's degree at the end of the bachelor's-level stage and a master's degree at the end of the course and a further 9% conferred both bachelor's and master's degrees at the end of the course.[56][57]
The UK Quality Assurance Agency defines three categories of Master's degrees:[59]
- Research master's degrees are primarily research based, although may contain taught elements, particularly on research methods. Examples are the MLitt (usually, but not always a research degree), the Master's by Research, and the MPhil. The Master's by Research (MbyRes, ResM), which is a research degree, is distinct from the Master of Research (MRes), which is a taught degree concentrating on research methods.[60]
- Specialised or advanced study master's degrees are primarily taught degrees, although commonly at least a third of the course is devoted to a research project assessed by dissertation. These may be stand-alone master's courses, leading to, e.g., MSc, MA or MRes degrees, or integrated master's degrees.
- Professional or practice master's degrees (see also professional degree) are designed to prepare students for a particular professional career and are primarily taught, although they may include work placements and independent study projects. Some may require professional experience for entry. Examples include MBA, MDiv, LLM and MSW as well as some integrated master's degrees. The name of the degree normally includes the subject name.
The United States Department of Education classifies master's degrees as research or professional. Research master's degrees in the US (e.g., M.A./A.M. or M.S.) require the completion of taught courses and examinations in a major and one or more minor subjects, as well as (normally) a research thesis. Professional master's degrees may be structured like research master's (e.g., M.E./M.Eng.) or may concentrate on a specific discipline (e.g., M.B.A.) and often substitute a project for the thesis.[48]
Master's programs in the US and Canada are normally two years in length. In some fields/programs, work on a doctorate begins immediately after the bachelor's degree, but a master's may be granted along the way as an intermediate qualification if the student petitions for it.[48] Some universities offer evening options so that students can work during the day and earn a master's degree in the evenings.[63]
Admission to a master's degree normally requires successful completion of study at bachelor's degree level either (for postgraduate degrees) as a stand-alone degree or (for integrated degrees) as part of an integrated scheme of study. In countries where the bachelor's degree with honours is the standard undergraduate degree, this is often the normal entry qualification.[59][72] In addition, students will normally have to write a personal statement and, in the arts and humanities, will often have to submit a portfolio of work.[73]
- Hastings Rashdall (1895). "I". The Universities of Europe in the Middle Ages: Volume 1, Salerno, Bologna, Paris. pp. 1–22.
- Board Of Overseers, Harvard University (6 January 1825). Revised Code of Laws. Report of a Committee of the Overseers of Harvard College. p. 22.
- College of Surgeons. The Philadelphia University Journal of Medicine and Surgery. 13. 1870. p. 284.
- C. E. Whiting (29 June 1937). "Durham University Centenary". Yorkshire Post. Retrieved 8 August 2016 – via British Newspaper Archive. (Subscription required (help)). The M.A. degree at Oxford and Cambridge had degenerated, and was granted to Bachelors of three years' standing on the payment of certain fees. At Durham the B.A. had to keep residence for three extra terms, and to pass what seems have been an honours examination in order to proceed to the Master's degree, and for a number of years classes were awarded in the M.A. examination.
- "Regulations". The Durham University Calendar. 1842. pp. xxv–xxvi.
- "Third Charter, 1858". University of London, the Historical Record: 1836-1912. University of London Press. 1912. pp. 39–48.
- "ΦΕΚ 54". Journal of the Government of the Greek Republic (in Greek). 54 (Appendix). Athens, Greece. August 1, 1978.
"Graduate School, Technion – Israel Institute of Technology". technion.ac.il.
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| University of Phoenix
Program: The Master of Business Administration with a concentration in accounting (MBA/ACC) is designed to develop or enhance the financial management skills necessary to function effectively within private businesses, non-profit organizations, and public agencies. The program concentrates on managing human and fiscal resources within the structure, culture, and mission of any organization. The curriculum addresses advanced costing techniques, accounting theory, accounting information systems, issues in corporate taxation, executive management, budgeting, human resources management, organizational development, conflict management, strategic planning, information management, and decision making, among other subjects.
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| University of Phoenix
Program: The Master of Business Administration with a concentration in accounting (MBA/ACC) is designed to develop or enhance the financial management skills necessary to function effectively within private businesses, non-profit organizations, and public agencies. The program concentrates on managing human and fiscal resources within the structure, culture, and mission of any organization. The curriculum addresses advanced costing techniques, accounting theory, accounting information systems, issues in corporate taxation, executive management, budgeting, human resources management, organizational development, conflict management, strategic planning, information management, and decision making, among other subjects.
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| Baker CollegeProgram: This concentration offers advanced classes for managers who have undergraduate degrees in accounting and want to take additional classes critical to their work situation. Students enrolling in this concentration must have a minimum of 16 quarter hours of undergraduate accounting, including at least eight hours of principles of accounting and at least four hours of intermediate accounting. |
Associates | Bachelors | Masters | Other | Accounting Home
Industry DescriptionAre you looking to get an accounting degree? Are you unsure about what exactly your options are, or what you’ll be learning? Then look no further. Today, pursuing an accounting degree doesn’t necessarily mean attending a full-time university. With online learning on the rise, it’s entirely possible to get your degree in the comfort of your own home, working around your busy schedule. Because the nature of the coursework is ideal to either environment, making the decision on how you’ll obtain your degree is as simple as evaluating the time requirements for each. Do you have the time to invest in a four-year program, or do you need the flexibility offered by long distance learning? Designed to provide you with the knowledge and skills necessary in pursuing an accounting career, an accounting degree will train you in a broad variety of disciplines, including the fundamentals of business economics, auditing, ledger and accounting systems, and much, much more. In addition, you will become technologically proficient, as you master a range of spreadsheet programs, database applications, and financial analysis packages. It’s not just about crunching numbers, though. In order to succeed in today’s workplace, accountants need the ability to interact effectively with clients, making communication courses a vital part of your curriculum. By demonstrating competency in both oral and written communication, you become more valuable as a potential hire upon graduation. If a solid business education is what you’re after, then an accounting degree might be exactly what you need. It’s just up to you to make the choice.
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