So, what exactly is accounting? What is the employment prospect of American master's accounting major after graduation, and what is the corresponding post salary?
Accounting definition
Accounting is an applied subject that forms an information system to assist decision-making on the basis of studying the collection, classification, synthesis, analysis and interpretation of financial activities and cost data, so as to effectively manage the economy. It can be said that it is an integral part of social science and an important management discipline. The research object of accounting is the movement of funds.
Professional classification of accounting postgraduates
I. Professional sectors
1, Accounting (Master) 0 1:MACC- Master of Accounting
MACC generally has three learning directions: financial accounting/management accounting/auditing. MACC course is closely related to CPA (Certified Public Accountant) exam, and many professional courses are related to CPA exam. MACC students and graduates can apply for CPA directly, which is very important in the domestic market.
2. Accounting (Master) 02:MSA- Master of Science in Accounting
MSA mainly recruits students who are not accounting majors or have no accounting background. To some extent, MSA education is vocational education, which means that MSA has a strong employment orientation, and many courses mainly involve intermediate accounting. The course of MSA is intermediate accounting, which is very suitable for people who have no accounting background at the undergraduate level, such as students majoring in finance, economics or engineering. Of course, undergraduate students majoring in accounting can also apply, and they can choose more difficult accounting courses under MSA.
3. Accounting (Master) 03:MAS- Master of Science Accounting
Contrary to MSA, MAS only recruits students who have graduated from American accounting or related majors, and does not recruit international students. Most of MAS are undergraduate and graduate students, the main purpose is to get enough credits to take CPA exam, and of course, some of them are for getting a doctorate. In fact, MAS course is very theoretical, which lays the foundation for reading PhD. It is said that there is a saying that after completing PhD and MAS, you are exempted from taking the exam for one year.
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Second, the course introduction
Accounting course
The core courses of Master of Accounting include financial report analysis, management accounting, financial analysis, auditing, taxation and so on. It should be noted that although the undergraduate major is accounting, you need to get good grades in the core courses in order to get a good admission. Moreover, some schools have branches under specialties, such as North Caroline University at Chapel Hill, case western reserve university, and the University of Washington at Seattle. The common branches are auditing and taxation.
Auditing is a professional direction to prepare for public accounting, especially in the field of auditing, corporate finance or related financial institutions.
The courses under review include: insurance service and information quality, financial fraud detection, accounting, accounting ethics, securities law, fraud detection, etc.
The tax direction prepares for the employment of accounting firms, commercial institutions and government agencies. Courses under taxation include: administrative decision-making tax planning, business tax and tax planning, tax professional research, tax research and so on.
In addition to the core courses, many accounting projects also set up many elective courses, which are highly selective. In addition to continuing in-depth study in a certain scoring field, you can also take other business courses, such as finance, operation and supply chain management, strategy and so on.
Most accounting projects are intensive training and teaching of accounting knowledge. By combining various case studies and teamwork, students can master effective oral and written communication skills and analytical skills. Combined with practical case analysis, let more students learn in advance how to play the role of managers in the workplace and how to solve and make decisions in the face of various business problems. In addition, some accounting programs are the preferred recruitment agencies of the four major accounting firms, so the course will include several weeks of paid internships.
Third, more details.
1, information system, also called IT audit, is a hot direction recently.
The main work is to evaluate the effectiveness of the accounting IT project and ERP system of the evaluated company. Efficiency is also a popular application direction at present, and the four science and technology risk service departments were established only a few years ago.
It audit mainly audits the customer's application system and tests whether the IT system works normally (whether the data selection is accurate, whether the data transmission is accurate, whether the automatic calculation of the system is normal, and whether the program is reasonable, etc.). ). Generally speaking, the it audit is always conducted before the year-end audit, because the audit report team must get the summary report of the IT auditor when planning: whether the customer's IT system is effective or not. The Big Four tend to look for students with IT background when recruiting, such as students majoring in MIS and CS.
2. Auditing is generally divided into internal auditing &; External audit.
After the promulgation of SOX Act, the proportion of internal audit in enterprises and firms has greatly increased. In 2003-04, there was a serious shortage of internal auditors in the American job market. This is also one of the reasons for the rising employment situation of accounting major in recent years. Internal auditors mainly audit the internal control of enterprises.
In the planning stage of audit, the firm should evaluate the risks of the enterprise, and one of the risks is to control the risks. Ensure the authenticity of financial statement data, and there is no material misstatement. Enterprises need to have a set of reasonable and effective internal control system. If the internal control of the enterprise is effective, then the control risk is low, that is to say, the risk of data error is relatively small. In the company, the main job of internal auditors is to audit the internal control of customers. After the promulgation of SOX Act, the United States requires audit firms to audit not only the financial statements of listed companies, but also the internal control of listed companies. Within enterprises, most enterprises have set up their own internal audit departments to ensure that internal control meets the requirements.
3. Tax.
Taxation is the most different branch of accounting in these two countries. The basic theories and frameworks of financial accounting and auditing are similar. Except for the accounting treatment of some subjects, the treatment of some transactions is also different. Taxes are generally divided into several branches: individual tax (personal income tax), enterprise income tax (corporate income tax), partnership, C company, S company tax (partnership income tax), business tax (property tax) and so on.
The American tax system is much more complicated than the domestic system. Taxes within an enterprise are usually adjusted for accounting, adjustment and preparation of tax returns, such as enterprise income tax and sales tax. Of course, some international companies have more tax personnel to handle all kinds of international tax business. The taxation of the firm is mainly divided into two parts. One part is to review the taxation of the enterprise to ensure that the tax-related subjects in the enterprise account books are correct. The other part is to help enterprises (consulting, consulting services) calculate taxes, prepare tax refund forms, tax analysis, reasonable tax avoidance and so on.
Career prospects
Because of the practicality of accounting major, most graduate students choose to enter the workplace. Most American schools will have special career guidance for accounting majors, and allocate departmental resources from resume revision to job fair arrangement.
Graduates can choose from international finance companies, securities companies, trust companies, international fund companies, investment banks, state organs, institutions, universities and other fields.
1) Employment industry:
accounting firm
PricewaterhouseCoopers (PWC), KPMG, Deloitte (DTT) and Ernst & Young (EY) are the first choice for accounting graduates. In the industry, the Big Four are famous for their high-intensity work and high wages. You can choose audit, SPA, tax, consulting or other back-office support departments. Audit is the core business, and it can contact high-end businesses such as tax planning. Followed by tax and financial consulting, relatively easy, less overtime on business trips. Financial consulting is mainly engaged in financial due diligence in enterprise restructuring and mergers and acquisitions, and generally requires three years of work experience to enter.
Fortune 500 companies
Fortune 500 companies are famous for their good welfare, and they can accumulate a lot of practical experience through their financial departments.
2) Work:
Accounting positions include accountant (accountant), auditor (auditor), financial analyst (financial analyst), financial manager (financial manager), management analyst (management analyst) and tax inspector. There are also some differences in job grades and salary levels. For international students, no matter whether they have work experience before entering school or not, they should basically start from the entry level after graduation in the United States.
Branch:
Public practice (public accountants coordinate or work in departments that provide accounting services to individuals, enterprises and governments). )
Occupation: international accounting, auditing/assurance service, taxation, environmental accounting, forensic accounting, information technology service, personal financial planning.
Employer: large/multinational, regional accounting firms, etc.
Note: If you want to work in an American accounting firm, you must have the educational level required to take the CPA exam, that is, 150 class hours, which must include 24 hours of accounting courses, equivalent to a bachelor's degree in accounting.
Industry and commerce: Any company, big or small, has an accounting team. )
Occupation: financial management, financial reporting, internal audit, cost accounting, tax planning, budget analysis.
Employer: All kinds of enterprises in various industries.
Note: Many managers of enterprises will get an MBA degree for further development after working for many years, so if possible, it is also helpful to get in touch with some business management knowledge in advance.
Government services (government accounting management and budget summary, tracking government costs, analyzing government plans). )
Occupation: accounting, internal audit, financial planning, budgeting, banknote management and financial records.
Employers: social service agencies and organizations, hospitals, public school systems, various universities and colleges, religious organizations, libraries and museums, various political parties and trade unions.
Note: If you have a dream of working in this field, you should not only have solid basic knowledge, but also be familiar with the workflow of government affairs as much as possible.
In the United States, taxation is the highlight of accounting work and the main direction of international students. Large American companies and accounting firms have always lacked tax accounting. American tax laws are complicated, and it is also an important income for accountants to fill in income tax and tax refund forms for taxpayers. If you want to choose a bigger career in the future, it may be more appropriate to focus on auditing, because ordinary companies need an internal auditor. Accounting graduate students trained by business schools can also be consultants in consulting companies, accounting firms or some large companies. Big accounting firms are all engaged in business consulting, and the above three directions are the main employment directions for many international students and accounting majors.
Applied element analysis
1, professional background
Not all accounting applications are accounting graduates. Many students in economics, finance, mathematics, statistics and even science and engineering can apply. General schools do not require applicants to major in accounting. But for non-professional students, there will be a prerequisite course. Other schools can even apply for any major of the undergraduate course, and then make up the accounting course of the undergraduate course after entering the school.
For applicants who are not accounting majors, but have taken some accounting courses at the undergraduate level, the school will review the undergraduate courses of the applicants and then ask the applicants to make up some necessary prerequisite courses. Different schools have different requirements for prerequisite courses. The website of general university accounting college will list the requirements for applicants' professional courses. At the time of application, the school will evaluate the applicant's course according to the transcript, and then decide whether it is necessary to make up lessons. It is suggested that you can send an email to the accounting department to directly ask which courses you need to take, and confirm whether you need to take the pre-requisite courses and which courses you need to take in time.
1) specific analysis
The following are some requirements of the school for different backgrounds:
① Accounting, business background or other background:
Washington University in St. Louis;
Notre Dame;
BC (Accounting this autumn, non-accounting project this summer);
William and Mary College;
University of Rochester;
University of Texas at Austin;
University of Illinois at Urbana-Champaign;
University of Miami;
Syracuse University.
② Non-accounting background:
University of North Carolina at Chapel Hill;
Case western reserve university;
University of Wisconsin at Madison.
③ Business background:
University of Washington at Seattle
④ Non-commercial background:
George Washington University
As can be seen from the above, due to the different professional settings and requirements of the school, some accounting majors accept both accounting and non-accounting applications, while others only accept non-accounting applications, such as MSA of UIUC and MAC of UNC.
Among them, accounting projects are divided into Master of Science in Accounting and Master of Science in Accounting. Master of science accounting, referred to as MAS. The general entry requirement is a bachelor's degree in American accounting and related majors. Master of accounting, MSA for short. It mainly recruits students without accounting background, including international students and American students (usually undergraduates majoring in finance, economics or engineering). The course of MSA is mainly intermediate accounting, which can lay a good foundation for people without accounting background; In other words, people with some professional backgrounds can take more advanced courses, such as derivative accounting, organizational economics, enterprise merger, financial reporting, foreign currency conversion and so on. MSA students may lack this knowledge, but CPA review courses will also cover their gaps in this area.
2. Analysis of GPA requirements and admission criteria for undergraduates.
The top 50 universities in American news: GPA: 3.0+; Competitive GPA: 3.5+;
Specific analysis:
Different application backgrounds have different application strategies. When evaluating the qualifications of an applicant, the school will not only look at the applicant's major, but also consider other experiences.
The first level:
Hardware conditions: GPA: 3.5+, GMAT: 700+, TOEFL: 100+
Internship experience: it is recommended to ensure excellent internship or work units and positions, and recommend applicants to enter the investment bank or the four major accounting firms for internship. Applicants should have two or three relevant internship experiences. Work experience will be a plus.
Other conditions: strive for overseas famous schools to exchange experiences, or overseas internships and other overseas experiences. In addition, if you take CPA in school, you will get extra points.
Second grade:
Hardware conditions: GPA: 3.0-3.3+, GMAT: 650-680+, TOEFL: 95- 100+.
Internship experience: the applicant can only have two or three accounting institutions for internship, and the internship unit suggests that he can go to domestic financial institutions or the financial and accounting departments of the world's top 500. If you have four internships or work experiences, you will get extra points.
Other conditions: if the applicant has overseas exchanges, overseas summer courses and other overseas experiences will be added.
The third level:
Hardware conditions: GPA: 2.8-3.0+, GMAT: 600+, TOEFL: 85-90+. In this document, the requirements for applicants' internship experience are relatively weak, and the school pays more attention to hardware conditions.
Internship experience: the applicant has one or two accounting-related internship experiences, which is a plus. Internship units can be in the financial and accounting departments of domestic financial institutions.
Other conditions: if the applicant has overseas exchanges, overseas summer courses and other overseas experiences will be added.
3. Standardized test score requirements
Top 50 universities in American news: TOEFL:100+; IELTS: 7.0-7.5; GMAT:650-700+ or GRE: 325+ (Many institutions do not accept GRE, so applicants should know their specific requirements in advance).
4. Internship experience
It is strongly recommended to have financial-related work experience or internship experience. Four accounting firms are preferred for internship units: PricewaterhouseCoopers (PWC), KPMG, Deloitte (DDT) and Ernst & Young (EY); Or the financial departments of fortune 500 companies, financial institutions, domestic accounting firms and well-known domestic enterprises.
5. Requirements for prerequisite courses
Judging from the background requirements of the application, accounting items mainly include accounting background, non-accounting background, accounting or business background and business background. Generally speaking, for applicants with non-accounting background, business background or other backgrounds, the school curriculum will generally provide some accounting prerequisites.
Preparatory courses generally include:
Principles of financial accounting;
Intermediate accounting I;
Intermediate accounting II and entry tax;
Financial principles;
Principles of management accounting;
Financial accounting;
Southern federal tax;
Audit;
Decision and control accounting (cost accounting);
Audit and consulting. Guarantee service;
Finance;
Management;
Marketing;
Macroeconomics;
Microeconomics;
Information;
Technology/computer science, etc.
According to the different undergraduate study background, the school will determine the prerequisite courses that applicants need to study.
1) matriculation form:
The school provides make-up lessons (summer courses) and online courses, four-year undergraduate study and self-study online courses.
2) Time before class:
The school will make corresponding regulations on the study time of the prerequisite courses, which usually includes the following four situations: completion before the start of the project, completion before the start of the project or during the study period of the project, completion before the application, and no need to take the prerequisite courses. For example, the time requirements for preparatory courses in the following schools:
3) Schools that have completed preparatory courses before the start of the project:
Washington University in St. Louis (late July and early August);
University of Michigan-Ann Arbor (completed or qualified for admission before application);
BC (Accounting this autumn, non-accounting project this summer);
William and Mary College (summer boot camp);
University of Washington at Seattle;
University of Texas at Austin;
University of Illinois at Urbana-Champaign;
University of Miami.
4) Schools that have completed the prerequisite courses before the start of the project or during the project research:
case western reserve university
5) Schools that have completed the prerequisite courses before applying:
University of southern California
6) Schools without prerequisites:
university of north carolina at chapelhill
6. Overseas study experience
Studying undergraduate abroad, as a student in Shanghai, a student in Bilu has certain advantages; In addition, whether there have been exchanges between overseas institutions, exchange of learning experience, and summer school experience are also assessment factors to consider.
7. Other activities
Suggested supplementary activities: academic papers (published/unpublished), business competitions (international/national/universities/colleges), social studies, student unions, community activities and volunteer activities.
8. Documents and materials
Resume;
Personal statement;
Series of small papers;
2-3 letters of recommendation.
Recommended institutions
Top 100 American accounting school
Comprehensive ranking
Master of Science in Accounting and Fundamental Analysis, Columbia University
14 Master of Accounting, Vanderbilt University
16 Master of Management Accounting from Cornell University
16 Master of Accounting (MAcc) of Rice University
University of Notre Dame Master of Science in Accounting
Master of Accounting, Washington University, St. Louis
Master of Accounting, University of Southern California
Master of Accounting, University of Virginia
Master of Accounting, University of Michigan, ann arbor.
27. Master of Science in Accounting (MSA) at Wake Forest University.
Master of Accounting, new york University.
Master of Accounting, University of North Carolina at Chapel Hill
University of Texas at Austin
University of Texas at Austin
The University of Texas at Austin, as the first university in the United States to set up a postgraduate degree in accounting, enjoys a high reputation in the accounting field. At present, the accounting department has two degrees: Master of Professional Accounting (MPA) and Doctor of Accounting.
university of illinois urbana champaign
University of Illinois at Urbana-Champaign
The Accounting Department of the University of Illinois at Urbana-Champaign is affiliated to this business school, and has three master's programs, namely Master of Accounting (MAS), Master of Accounting (MSA), Master of Taxation, and Doctor of Accounting program.
Brigham Young University, Idaho
Brigham Young University
Brigham Young University Marriott Business School of Brigham Young University has a special accounting school (SOA), which offers two degrees: Bachelor of Accounting and Master of Accounting (MAcc).
University of southern California
University of southern California
The University of Southern California has set up a special Leventhal Accounting College, offering three postgraduate degrees: Master of Accounting, Master of Business Taxation and Doctor of Accounting. Applicants need to have studied basic courses such as financial accounting and macro-microeconomics at the undergraduate level.
Texas A&M university
Texas A&M University. M university
The Accounting Department of Texas A&M University offers two degrees: Master of Accounting and Doctor of Accounting. The accounting department requires applicants to have basic knowledge in the accounting field, and have rich leadership, communication skills, teamwork spirit and critical thinking ability.
Bentley University
Bentley University
Bentley University was founded in 19 17. Its predecessor was Bentley College of Accounting and Finance, and it proudly started with strong majors: business, accounting and finance. For students who want to study accounting, choosing Bentley University can avoid the brutal competition of famous schools and receive the best accounting undergraduate education.
The average annual salary of accounting graduates from Bentley University is $56,5438+0,000, and the mid-career salary is about $99,000.
Notre Dame University
Notre Dame University
Notre Dame University is a private Catholic university and a research university. Among the CEOs of the top financial institutions in the United States 100, Notre Dame University has the largest number of graduates and ranks first among universities in the United States, which shows its strong business strength. The characteristic of the center is to invite industry experts to give lectures, including some negative teaching materials, and invite some poorly managed corporate financial directors to tell the lessons of failure.
The average annual salary of accounting graduates from Notre Dame University is $60,000, and their mid-career salary is about $65,438 +0 1.9 million.
University of Bryant
University of Bryant
Bryant University is a comprehensive private university with a long history of 150 years. It was founded in 1863 when Lincoln was president, and it was one of the earliest business schools in the United States. The Business School of Bryant University enjoys a high reputation in accounting, actuarial science, finance, globalization studies, social entrepreneurship and global supply chain management.
At present, there are more than 3,500 students from 33 states in the United States and 85 countries and regions around the world. China students only account for 1% of the total number of students, making it an ideal place to study abroad (courses) to improve their language and study.
The average annual salary of accounting graduates from Bryant University is $52,000, and the mid-career salary is about $80,000.
New York University
New York University
New york University is a private research university located in the center of new york, USA. New york University is the American university that sends the largest number of students overseas, and it is also the university with the largest number of international students searching online. At present, there are 50,000 students from all over the world, and the teacher-student ratio is 1: 10. Famous China Alumni: Gu,,,, Ang Lee, etc.
The average annual salary of accounting graduates in new york University is $65,000, and the mid-career salary is about $65,438 +0 1.4 million.
City University of new york, baruch
Bernard baruch College
City University of new york at baruch, founded in 1847, is the first free higher education college in American history. Among them, this business school is the largest and oldest public business school in the United States, and is praised by Americans as "Harvard for the poor".
The average annual salary of accounting graduates from City University of new york at baruch is $52,000, and the mid-career salary is about $89,000.
boston college
boston college
Boston College was founded in 186 1, and its Carroll School of Management (Business School) ranks among the top business schools in the United States. The department also often invites professors from American universities to give lectures. The school aims to teach students all kinds of business knowledge and cultivate their insight into financial phenomena.
The average annual salary of accounting graduates in Boston College is $57,000, and the mid-career salary is about $654.38+$009,000.
villanova university
villanova university
Villanova University is the oldest and largest Catholic university in Pennsylvania. Villanova Business School believes that accounting is also very important for those who are engaged in non-accounting work. The teaching goal of this school is to let students know all the basic principles of business operation.
The average annual salary of accounting graduates from Villanova University is $55,000, and the mid-career salary is about $654.38+$007,000.
University of Michigan at Ann Arbor
University of Michigan at Ann Arbor
The University of Michigan at ann arbor is the flagship campus of the University of Michigan, which usually means "University of Michigan at ann arbor".
As an "academic town" in the United States, the University of Michigan has the highest research budget, a strong academic atmosphere and a strong faculty. It has first-class business schools, law schools, medical schools, engineering schools and liberal arts colleges.
The school's master's degree in accounting has been recognized by international authorities, and the employment direction is mostly consulting, investment banking and other institutions. Before entering the school, the school has provided students with summer internship opportunities, so that students can get in touch with corporate culture in advance and plan their career direction. Employment data in recent years show that more than 80% of graduates will receive job invitations from famous enterprises, and the employment rate is very high.