Accounting Courses in the USA for 2023-24: A Complete Guide

Accounting stands out as one of the most sought-after degrees for international students in the United States. The country offers a variety of renowned accounting courses in USA. The curriculum covers essential topics such as book-keeping, debits, credits, taxes, and financial statements. According to the 2023 QS Global Rankings, the top ten accounting universities in the USA are globally renowned in Accounting and Finance. Additionally, professionals in the accounting field can anticipate a median annual salary of $70,000 (equivalent to 5,580,449 INR).

Curious to learn more?

Dive into our comprehensive guide on accounting in the USA, including insights into the top accounting programs and colleges. Shuraa Education is here to assist you in exploring the world of accounting courses in USA.

What is Accounting?

Accounting serves as the business language, crucial in informed decision-making across various industries. As an Accounting student, you’ll master the skills to document, assess, and convey financial data. However, this field extends beyond mere numbers; it’s about vividly depicting a company’s financial well-being.

Specialisations in Accounting

In the realm of accounting, you’ll encounter various specialisations, including 

1. Financial Accounting: Involves reporting a company’s financial data to external entities. 
2. Management Accounting: Focuses on internal reporting to aid decision-making processes. 
3. Tax Accounting: Specializes in tax return preparation and planning strategies. 
4. Auditing: Involves assessing the accuracy of financial records. 
5. Forensic Accounting: Centers on investigating financial irregularities and frauds.

Whether pursuing a Bachelor of Accounting in USA, you’ll notice that Financial Accounting is a prevalent specialisation in most programs. However, emerging areas like Forensic Accounting are gaining prominence rapidly.

What can you expect to gain from an accounting course?

Enrolling in an Accounting degree program will equip you with 

• Proficiency in accurately recording financial transactions. 
• Expertise in analyzing intricate financial reports. 
• Understanding of the ethical standards fundamental to the finance industry.

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Courses to Anticipate:

During your studies, you can expect to encounter critical courses such as: 

1. Financial Statement Analysis: Delving into comprehending company financial statements. 
2. Cost Management: Understanding costing methods and budgetary controls. 
3. Taxation: Familiarize yourself with tax laws and strategic planning. 
4. Advanced Auditing: Mastering sophisticated techniques for in-depth financial assessments. 
5. Corporate Finance: Exploring aspects of business financing and decision-making processes.

A Bachelor of Accounting in the USA is ideal for individuals with a sharp attention to detail and a passion for financial transparency. The skills acquired through these courses are invaluable in the finance sector and are applicable across various industries.

What Career Opportunities Await with Accounting Courses in USA?

Upon earning your qualifications, many job options and career paths become available. Here are some of the most sought-after roles: 

1. Chartered Accountant: Responsible for managing financial records for diverse clients. 
2. Tax Advisor: Provides specialised tax advice and strategic planning services. 
3. Auditor: Ensures the precision and fairness of financial statements. 
4. Forensic Accountant: Investigates financial irregularities and offers expert witness testimonies. 
5. Financial Analyst: Guides businesses in making informed financial decisions.

Top Accounting Universities in the USA

Below is a compilation of the finest accounting colleges in the United States: 

1. University of Pennsylvania
2. Columbia University
3. University of Texas
4. Northwestern University
5. New York University

Let’s delve into comprehensive details about each of these leading accounting universities in the USA, including their rankings, available accounting courses, and average tuition fees.

University of Pennsylvania

The University of Pennsylvania, a prestigious Ivy League institution in Philadelphia, Pennsylvania, is a leading research university. Penn boasts a diverse educational landscape, featuring four undergraduate accounting programs in the USA and 12 graduate schools. The university offers students an exceptional education rooted in inclusivity, academic rigor, and cutting-edge research. Penn’s accounting curriculum encompasses various subjects, including Accounting Information Systems, Financial Reporting and Services, Managerial Accounting, Forensic and Government Accounting, Control, Audit, and Assurance. 

Note: The figures provided are subject to change based on your circumstances.

Columbia University

Columbia University stands as one of the premier accounting institutions in the USA, providing a comprehensive Master of Science in Accounting degree. This program equips students with in-depth knowledge of accounting principles. Graduates in this field typically earn an average annual salary of USD 90,000 (equivalent to ₹71,86,950.00 INR), experiencing an annual increase of 2.64 per cent.

Note: The figures provided are subject to change based on your circumstances.

University of Texas, Austin

Presently holding the top position in the QS World University Rankings, the University of Texas boasts numerous academic strengths. In the United States, the McCombs School of Business at the University of Texas at Austin stands out as one of the most popular accounting colleges, offering comprehensive bachelor’s, Ph.D., and master’s programs in personal accounting. The accounting sector in the United States contributes significantly, generating a staggering USD 156 billion in revenue. Graduates from this program can anticipate highly lucrative job opportunities in the field. 

Note: The figures provided are subject to change based on your circumstances.

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Northwestern University 

Northwestern University, situated in Evanston, Illinois, is a distinguished private research institution. Boasting numerous labs and substantial research grants, students here enjoy ample opportunities for independent research. Within Northwestern, the McCormick School of Accounting provides a renowned MBA program specialising in Accounting in the USA. 

Note: The figures provided are subject to change based on your circumstances.

New York University

At New York University, the emphasis is on recognising the pivotal role of finance in shaping future urban landscapes. The curriculum at NYU is designed with this perspective, concentrating on imparting fundamental accounting knowledge and theories, along with algorithms that nurture independent and intelligent individuals. 

Note: The figures provided are subject to change based on your circumstances.

Overview of Accounting Programs in the USA

The accounting degree program in the USA comprises 30-36 credit hours that students must complete. These credits are divided between elective courses and a mandatory, in-depth research thesis.

Note: The figures provided are subject to change based on your circumstances.

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Eligibility Requirements for Accounting in the USA

Before applying for an accounting program in the USA, it’s crucial to understand the eligibility criteria. We have categorised the eligibility requirements for international students applying to accounting courses in USA into the following sections:

Academic Qualifications

Applicants must have an undergraduate/12th-grade GPA exceeding 3.0 on a scale of 4 to be accepted into their preferred college for master’s studies, provided they have completed 16 years of formal education.

English Language Proficiency

International students applying to any accounting program in the USA must take an English Proficiency test. For an MS in Accounting or a PhD in Accounting in the USA, the minimum required IELTS score is 7.0, and a TOEFL score ranging from 80 to 85 is necessary for admission.

GRE Examination Results

When applying for MS programs in American colleges, GRE scores are crucial. Most colleges have their specific minimum score requirements for the GRE. Candidates seeking admission to master’s programs are expected to achieve a high quantitative score. However, certain universities, such as Northwestern University, Georgetown University, Brown University, and The University of Illinois at Chicago, do not require GRE scorecards.

Required Documents for Applying to Accounting courses in USA

For international students seeking admission to accounting courses in USA, the following documents are necessary: 

• Passport (valid for at least six months) 
• Visa fee receipt and SEVIS-Fee payment receipt 
• Form DS-160 from a US institution 
• Provisional certificates or original marks sheets 
• Score sheet for standardised exams taken in preparation for studying in the United States 
• Proof of sufficient funds 
• Original and copy of the visa appointment letter

Application Procedure for Accounting courses in USA

Below is a detailed step-by-step guide for applying to study in USA: 

• Online Application: Complete the application process online, ensuring you are mindful of admission dates and deadlines. 
• Document Preparation: Scan and keep original copies of all required documents ready to avoid any delays. 
• Application Form: Fill out the application form, attach a photograph, and bring a printout to your interview. 
• Interview Appointment: Schedule an interview at the Consulate or Embassy, paying a fee of 160 USD (INR 11,895). 
• Interview Preparation: Bring all necessary documents to the interview and be prepared for the authorities’ inquiries. 
• Await Decision: Attend the interview and wait for the authorities to decide on your application. 
• Visa Approval: Pay the issuance fee and plan your trip accordingly once your visa is approved. 
• Deposit Payment: Pay the deposit by agreeing to the university’s terms and conditions to secure your admission into the top accounting programs in the US. Note that this deposit is non-refundable.

Cost of Studying Accounting in the USA

When considering pursuing a master’s in accounting USA, it’s a top choice for many students. However, it’s also one of the most expensive places to study. The cost of living varies based on several factors, with tuition fees and living expenses being the key components: 

• Tuition Fees: The tuition fee varies for each program at the best Accounting Universities in the USA. It ranges from 31,000 to 55,000 USD (24,61,065.20- 43,66,406 INR) per year. 
• Living Expenses: Living costs in the USA differ for each student, influenced by their lifestyles. On average, the yearly living expenses, including housing, food, travel, stationery, and recreational activities, range from 5,000 to 10,000 USD (39,649.58- 79,305.75 INR).

Note: The figures provided are subject to change based on your circumstances.

Scholarships for Accounting Studies in the USA

For those aspiring to pursue Accounting in the USA, various universities offer financial aid and scholarships specifically designed for international students. Here, we highlight some of the renowned scholarships available for Indian students in the USA. 

Note: The figures provided are subject to change based on your circumstances. 

Career Opportunities in Accounting in the USA

Upon earning an accounting degree in the USA, graduates have numerous avenues to explore, such as employment in large multinational corporations or teaching positions in educational institutions. The scope of accounting careers in the USA is extensive. Below, we have outlined some popular job profiles along with their annual salary ranges:

Note: The figures provided are subject to change based on your circumstances.

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We have thoroughly explored essential aspects of studying Accounting in the USA, covering eligibility criteria, job prospects, and the best colleges in the field. If you have additional queries about Accounting in the USA, please feel free to comment below. We are here to assist you. For further guidance and support throughout your admission journey, contact Shuraa Education. For further details, reach out to Shuraa Education Study Abroad via email at info@shuraaeducation.com or contact us at +91 931 999 8924 through call or WhatsApp.

FAQs 

Q1. What’s the Process for Pursuing an MS in Accounting in the US?

Students with undergraduate degrees in commerce are eligible to apply for master’s in accounting USA. Universities typically require a specific percentage of marks in their undergraduate courses as stated in their admission criteria. Additionally, applicants might need to submit GRE scores (in certain cases) and demonstrate their English proficiency through TOEFL or IELTS exams. The application process involves submitting all necessary documents, including Letters of Recommendation (LOR) and Statement of Purpose (SOP), through online portals on the respective university websites. Upon receiving an acceptance letter from the institution, you can initiate the visa application process.

Q2. What is the IELTS Requirement for master’s in accounting in USA?

The IELTS requirement for accounting programs in the USA differs among universities. Generally, a minimum score of 7 is necessary to secure admission to the top-tier institutions.

Q3. Are There Master’s Programs in Accounting for Non-Accounting Bachelor’s Degree Holders?

Certainly, the University of Kansas, the University of North Carolina, Florida State University, and the University of Virginia provide master’s degrees in accounting, catering to students without an accounting background in their bachelor’s degree.