Accounting professionals have several options to advance their careers and expand their expertise in the field. Two prominent paths stand out: pursuing a Master of Professional Accounting (MPAcc) degree and obtaining Certified Public Accountant (CPA) certification. These routes offer distinct advantages and can significantly impact an accountant’s career trajectory.
For those looking to enhance their skills and prepare for the CPA exam, Eastern Washington University (EWU) offers the online MPAcc program. This program allows students to refine their accounting knowledge, customize their education through electives and accumulate credits necessary for CPA exam eligibility. As the accounting field evolves with the integration of big data, artificial intelligence and data analytics, understanding the benefits of an MPAcc degree and CPA certification is crucial for informed career decision-making.
What is a Master of Professional Accounting Degree?
An MPAcc is an advanced degree that elevates students beyond the foundational knowledge acquired in undergraduate studies, delving deep into specialized areas such as advanced accounting principles, auditing techniques and intricate financial reporting methods. The curriculum provides the training and expertise needed to excel in public accounting, corporate finance and related sectors.
MPAcc programs typically take one to two years to complete, as they offer a comprehensive exploration of critical topics. Courses immerse students in subjects such as advanced financial accounting, managerial accounting and business valuation. The curriculum often incorporates emerging fields like data analytics and artificial intelligence in financial decision-making. This multifaceted approach ensures graduates are well-versed in both established practices and cutting-edge technologies shaping the future of accounting.
An MPAcc degree serves as a powerful catalyst for career advancement. It helps students prepare for the rigorous CPA exam and opens doors to various professional opportunities. Graduates can pursue roles as financial analysts and advisors, corporate controllers or even chief financial officers (CFOs). EWU’s program emphasizes business ethics, leadership and communication skills to cultivate well-rounded professionals capable of ascending to managerial positions. With expertise in data governance and big data analysis, MPAcc degree holders also have the tools to be invaluable assets in financial management.
What is a Certified Public Accountant Designation?
The CPA designation is the gold standard in the accounting profession, conferred upon individuals who demonstrate exceptional proficiency in accounting practices, financial reporting and regulatory compliance. To earn the CPA license, candidates must complete a rigorous process that includes meeting stringent educational requirements, gaining relevant work experience and passing the challenging Uniform CPA Exam administered by the American Institute of Certified Public Accountants (AICPA).
The CPA Exam is a comprehensive assessment divided into three core sections: Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Taxation and Regulation (REG). Each section tests a different facet of accounting expertise, ensuring that CPAs possess a well-rounded knowledge base. This multifaceted examination covers everything from traditional accounting principles to emerging trends in data science and artificial intelligence related to financial decision-making. In addition to the core sections, participants must pass one of three discipline sections: Business Analysis and Reporting (BAR), Information Systems and Control (ISC), and Tax Compliance and Planning (TCP).
Professionals with CPA expertise are highly valued in public accounting firms, corporations, government agencies, educational institutions and nonprofit organizations. CPAs may specialize in areas such as financial accounting, management accounting, auditing or tax planning. The CPA designation often translates to enhanced career prospects and higher earning potential, with industry data suggesting that CPAs earn 15% more on average than their non-CPA counterparts.
Why Would Professionals Want to Earn an MPAcc Degree and CPA Designation?
This powerful combination equips individuals with a comprehensive skill set that spans theoretical knowledge and practical expertise. The MPAcc degree provides a deep dive into advanced accounting principles, while the CPA certification demonstrates mastery of core competencies required by state boards of accountancy.
The combination of an MPAcc degree and CPA designation makes a variety of career opportunities possible. Graduates armed with both credentials are well-positioned for leadership roles in public accounting firms, corporations and government agencies. They possess the analytical skills to handle complex financial projects, leveraging big data and artificial intelligence to drive informed decision-making. The ethical training in both programs cultivates professionals who can uphold the highest standards of integrity in financial reporting and data governance.
EWU’s accelerated online MPAcc program deepens expertise in critical areas, such as accounting law, auditing and taxation. Its flexible curriculum allows students to customize their learning experience through electives in specialized fields — like sustainability accounting and forensic accounting — while completing the degree in as few as eight months.
The program’s emphasis on practical application, including an optional internship, ensures graduates are ready for the challenges of modern accounting. Through this dual career pathway, accounting professionals position themselves at the forefront of their field, ready to tackle the evolving demands of accountancy in the digital age.
Learn more about EWU’s online MPAcc program.
