Getting a Degree in Public Accounting

Public accounting is the most diverse type of accounting. A public accountant works for an accounting firm that provides auditing, bookkeeping, financial analysis, tax, consulting, and accounting services for other organizations, businesses, government agencies, non-government agencies, and individuals. Being a certified public accountant is a career option that takes up to 7 years to fulfill. Students who take up this field will have to complete their education in public accounting and then get a state license to practice the profession.

Though this career option involves a lot of hurdles, it is worth the financial and academic investment one makes since the job opportunities in the field are highly rewarding. While taking a public accounting program is often focused on becoming a certified public accountant, one will always have the option of taking up other career options within the accountancy branch. To become a Certified Public Accountant (CPA), candidates must pass the Uniform CPA Examination. This exam tests knowledge in various areas of accounting and is a critical step in the certification process.

Fee for Programs in Public Accounting

The fee that one will have to pay while studying public accounting depends on the institution they are studying at and the level of education they are pursuing. This tuition amount will also vary according to whether the institution is privately or publicly funded. Private universities charge the same fee for all students, which is relatively higher than the fee required at public institutions. Public universities, on the other hand, have different fees for out-of-state and in-state students. This fee paid by out-of-state students can be 3 or 4 times higher than in-state students. The average tuition fees for accounting majors are approximately $7,200 at in-state public institutions, while out-of-state private colleges charge around $33,000.

Types of Degrees

Students can take any degree in accounting, after which they can take the license examination to practice as public accountants. Most programs offer public accounting as a subject or specialization in accounting. A few of the degrees one can take to practice this profession include-

1. Bachelor of Science (BS) in Accounting (or comparably a Bachelor of Accountancy), which is a 4-year degree that can equip students for entry-level positions in accounting in the public, private, or government sectors.
2. Bachelor of Business Administration in Accounting is also a 4-year degree that is a combination of business studies, management, and economics along with analytical courses.
3. Bachelor of Arts in Accounting is a lesser-known option in comparison to a BS in Accounting; a BA has more flexibility vis a vis a BS (which is more accounting oriented) in the form of optional and additional electives thereby making a minor or double major achievable.

14 Recommended Universities for Public Accounting

The best universities and the programs offered are as follows:

University	Program Offered	Tuition Fee
University of Pennsylvania	BS in Accounting	$66,000 annually
University of Illinois	BS in Accounting	$17,000 to $45,000 annually
Brigham Young University	BS in Accounting	$350 to $700 per credit hour
University of Notre Dame	Bachelor of Business Administration	$65,000 annually
University of Southern California	BS in Accounting, BS in Business Administration	$35,000 per semester
University of Michigan	Bachelor of Business Administration	$18,000 to $69,000 annually
Miami University, Ohio	BS in Accounting	$18,000 to $41,000 annually
Michigan State University	Bachelor in Accounting	$16,000 to $45,000 annually
University of Texas, Austin	Bachelor of Business Administration	$10,000 to $49,000 annually
University of Florida	BS in Accounting, Bachelor of Business Administration	$6,300 to $29,000 annually
Ohio State University	BS in Business Administration	$13,000 to $40,000 annually
Texas A&M University	Bachelor of Business Administration	$6,700 per semester
University of Alabama	BS in Accounting	$5,600 to $17,000 per semester
Arizona State University	BS in Accounting, BA in Business (Corporate Accounting)	$11,000 to $32,000 annually

High Paying Jobs for Public Accounting Graduates

According to a report published by the Bureau of Labor Statistics, by 2028, almost a hundred thousand new jobs will be added to the accounting domain, and the profession is set to see a 6% growth. Moreover, accountants hold the seventh highest rank in Best Business Jobs. The career options one will be able to choose from after completing a public accounting program include:

• Public Accountant- They will be in charge of assisting corporations and even individuals with financial tasks. This can include dealing with income taxes, financial statements, etc.
  Median Salary- $77,500 per year
• Financial Analyst- Their job description mainly includes guiding businesses and even individuals in managing budgets to attain a profit.
  Median Salary- $96,000 per year
• Actuary- They are in charge of analyzing the economic costs of risk and the loss in question with uncertainty in business. They will have to include financial theory, mathematics, and other subjects for the same.
  Median Salary- $106,000 per year
• Financial Planner- The job description for this includes providing information and estimates regarding taxes, insurance, and even investments. Candidates will only require a bachelor’s degree to pursue this profession.
  Median Salary: $95,000 per year
• Forensic Accountant- This career will allow candidates to use their financial skills for detecting and proving illegal activity. This can include criminal and fraudulent activities that can be uncovered using financial evidence.
  Average Salary: $82,000 per year
• Information and Technology Accountant- This job involves using technology to develop solutions to financial problems. Candidates must be efficient in information systems and finance to pursue this career.
  Average Salary: $105,000 per year

Benefits of Studying Public Accounting

Public accounting is one way to ensure steady career growth, especially if one is keen on the business and management field. While there is high competition for programs like MBA within this field, candidates will be presented with better opportunities and systemic employment growth if they take up this career option. Though public accounting involves dealing with the public sector, candidates in this field can work with different private and non-profit sectors. Other benefits include-

• The sector of accountancy and auditing is expected to grow by a minimum of 6% between 2023 and 2033. This projected growth ensures that candidates will always be able to find professions that suit them within the industry.
• This field of study involves critical thinking and analytical skills that one will have to use to be a financial expert. It is one of the reasons why those working in the field do not have to fear automation that is taking over every other industry.
• While most accounting professions are done through a financial firm, candidates who become certified public accountants will be able to provide their services independently. This will allow them to work monotonously without catering to the varied interests of the organization they are working in.
• Candidates within this field will also be able to network in large circles. Their specialization will allow them also to become a partner in a firm rather than remain a part of the crowd.