In today‘s fast-paced business world, accounting professionals with technical expertise and business savvy have a clear advantage. The American Institute of Certified Professional Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA) emphasize that accountants with strong business skills can do more than manage numbers. They help guide organizations toward smarter financial decisions while addressing broader operational impacts.
The Eastern Washington University (EWU) online Master of Business Administration (MBA) and Master of Professional Accounting (MPAcc) Dual Degree program empowers students to bridge the gap between accounting and business. This program equips graduates with the skills needed to excel in advanced accounting roles while contributing meaningfully to organizational success.
Why Business Knowledge is a Game-Changer for Accounting Professionals
The days of accountants being just “number crunchers” are long gone. Today‘s accounting professionals are integral to shaping business strategies, and adding business knowledge to accounting expertise unlocks opportunities. The following are some examples of why accounting is an attractive career for many:
- Broader career opportunities: Organizations increasingly seek accountants who can connect financial data to business strategies. A dual MBA and MPAcc degree equips professionals to step into leadership roles, specialize in areas like financial analysis or transition into management accounting.
- Enhanced decision-making skills: Business acumen enables accountants to provide actionable insights rather than simply reporting numbers. For example, they can evaluate investment opportunities, optimize budgets or guide mergers and acquisitions. As Indeed notes, these contributions make accountants essential to strategic decision-making.
- Improved collaboration across teams: Accountants with business expertise are uniquely positioned to communicate financial insights to non-financial stakeholders. This ability to translate complex concepts fosters cross-departmental collaboration, ensuring financial strategies align with operational goals.
Why a Dual MPAcc MBA Degree Stands Out
Earning a dual degree provides a comprehensive skill set that prepares professionals to meet today‘s business challenges head-on. Key benefits include:
- A holistic knowledge base: Graduates develop expertise in accounting principles like financial reporting and auditing while mastering business disciplines such as strategic planning, marketing and operations management.
- Versatility in career paths: A dual degree opens doors to diverse roles, from financial controllers to chief financial officers (CFOs). Combining business and accounting skills ensures graduates can tackle various industry challenges.
- Leadership readiness: Advanced training in business and accounting prepares professionals for leadership roles, whether they aim to manage teams, oversee financial performance or drive organizational strategy.
The Impact of Business Skills on Accounting Expertise
Accountants who integrate business knowledge into their work bring valuable perspectives to their organizations. Examples include:
- Aligning accounting functions with organizational goals: Business-savvy accountants understand how accounting processes support overall objectives. They can streamline financial systems to improve efficiency or design cost-control measures that align with growth strategies.
- Strategic financial planning: By combining technical and business skills, accountants can assess risks, allocate resources effectively and contribute to long-term financial stability. As Harvard Business School highlights, these capabilities are essential for maintaining a competitive edge.
- Driving innovation: Accountants with a business mindset can recommend forward-thinking solutions, such as adopting emerging technologies or refining workflows to enhance productivity.
Key Skills Developed in Dual MBA and MPAcc Programs
Students in programs like EWU‘s dual degree acquire a robust skill set. The following are some significant skills graduates gain through the dual degree program that prepare them for accounting careers:
- Technical accounting expertise: Training in advanced auditing, taxation and financial reporting
- Business administration skills: Leadership, marketing and organizational behavior knowledge to drive strategic initiatives
- Soft skills for business success: Strong communication and interpersonal abilities for effective collaboration and presenting insights persuasively
Why Choose an Online Dual Degree Program?
Online dual-degree programs are designed for working professionals seeking career advancement without putting their lives on hold. Key features include:
- Flexibility: Complete coursework on your schedule while balancing work and personal commitments.
- Accelerated learning: Shortened pathways help you earn your degrees faster without compromising quality.
- Integrated curriculum: The program blends accounting principles with business management training, preparing graduates for leadership roles.
Shaping the Future of Business and Accounting
According to AICPA & CIMA, business knowledge is crucial for accountants to maximize their career opportunities and work output. For example, in addition to being a “boon for career progression,” as firms want accounting professionals with business expertise, a business education allows accounting professionals to advise their “organization or clients in making sound financial decisions and explain how those decisions affect business operations or the person’s financial portfolio.”
From optimizing financial strategies to driving innovation, accountants with this dual skill set are prepared to lead in today‘s complex business environment. Professionals can take the next step in their careers through EWU‘s online MBA and MPAcc Dual Degree program and unlock opportunities to thrive in leadership roles, guide strategic decisions and shape the future of accounting.
Learn more about EWU’s online MBA and MPAcc Dual Degree program.
