What Classes Can You Expect to Take For Your Accounting Degree?

If you have a way with numbers and want to make a living out of it, a degree in accounting can open doors to a lucrative career in finance.

With a bachelor’s degree in accounting, you could get started in an entry-level accounting job and advance to a senior-level role as you gain more experience. If you want to become a certified public accountant (CPA) and increase your earning potential, you should consider earning a master’s degree in accounting.

There are some important differences between bachelor’s- and master’s-level coursework, including in subject matter complexity and prerequisites. Knowing what classes to expect in each type of program may help you make more informed decisions regarding your education. This guide offers an overview of the courses covered in both an accounting bachelor’s and master’s degree program at WGU.

What Courses Are Taught in a Bachelor’s in Accounting Degree Program?

A bachelor’s degree in accounting is often the first benchmark toward a career in business, finance, or different types of accounting. This degree program covers basic accounting concepts such as Generally Accepted Accounting Principles (GAAP), spreadsheets, financial and managerial accounting, tax and audit rules, and more. The following WGU undergraduate accounting classes are key in preparing students for the job market:

• Financial Accounting focuses on the applications of accounting principles in business operations. This course covers the basics of financial accounting, including how business transactions relate to GAAP. Financial Accounting also covers subjects like assets, liabilities, equity, and business ethics.
• Taxation I provides an overview of how individual and organizational income taxes function in relation to tax law. In this course, students typically learn about principles of taxation and how to develop effective tax strategies.
• Cost and Managerial Accounting focuses on ways to identify and interpret accounting data in management settings. Topics covered include budgeting, cost-volume-profit analysis, cost accounting, and differential analysis.
• Business Law for Accountants teaches students about legal questions and issues encountered in the accounting field. Major topics include the Uniform Commercial Code (UCC), contracts, legal entities, ethics, and bankruptcy.
• Intermediate Accounting consists of three in-depth financial accounting courses. These courses focus on financial accounting and accounting standards, GAAP, cash and receivables, depreciation, intangible assets, investments, pension plans, and leases. Students also explore advanced topics such as error analysis, financial analysis, and interpretation of the statement of cash flows.
• Accounting Information Systems (AIS) covers an accountant’s role in management and financial reporting systems. Topics include transaction cycles, data management, enterprise resource planning (ERP), e-commerce systems, and documentation principles. Upon completion of the course, students are better prepared to use dedicated accounting software like QuickBooks and NetSuite.
• Auditing introduces students to the entire auditing process. This course teaches how to assess audit risk and develop an audit strategy. Data analysis techniques are covered as they relate to audit reporting.

What Courses Are Taught in a Master’s in Accounting Degree Program?

In an accounting master's program, students take advanced classes covering topics in management accounting, taxation, auditing, financial accounting, and more, depending on their choice of specialization. These courses help prepare students for the CPA exam while exposing them to different areas of emphasis within the accounting field. WGU’s program offers foundational courses in addition to courses tailored to the four specialization options. Some of these classes include the following:

• Advanced Managerial Accounting introduces the complexity and functionality of managerial accounting systems within an organization. It covers the topics of product costing, decision-making, profitability analysis, budgeting, and performance evaluation.
• Advanced Financial Accounting builds upon existing accounting knowledge by focusing on advanced topics such as consolidations, allocations, partnership accounting, and international accounting.
• Corporate Taxation is designed to enhance awareness of the complexities of federal tax laws and rules regarding corporations. Other concepts covered include capital structure, liquidations, and accumulated earnings taxes.
• Advanced Auditing reviews the basic auditing process, including audit planning, using dedicated audit tools, and reporting. The course also walks through the application of auditing to acquisitions, payment cycles, and revenue cycles.
• Accounting Research and Critical Thinking covers the skills and knowledge needed to validate accounting reports. Essential skills include reasoning, communication, and research.
• Fraud and Forensic Accounting provides a framework for detecting and investigating fraud. The class empowers students to practice effective forensic accounting techniques and develop the knowledge necessary to prevent fraud.

Should I Become a CPA?

Becoming a CPA requires both commitment and a high level of accounting knowledge. While a master’s degree in accounting isn’t a requirement to become a CPA, a bachelor’s degree alone may not qualify you to sit for the CPA exam. Most states require you to complete 120 credit hours to take the CPA exam and 150 hours to be licensed as a CPA. A master’s degree can provide those additional hours to meet CPA requirements. 
 
If you’re hoping to achieve a long-term accounting career with good earning potential, becoming a CPA may be a great fit for you. According to Accounting.com, CPAs earn an average annual salary of around $100,000. Individual salaries vary depending on level of education, experience, location, and other factors. If you decide a CPA role isn’t for you, earning a master’s degree can still open pathways to career advancement and greater job satisfaction. 

Ready to Take the Next Step?

Looking to begin—or continue—your accounting education? Consider earning your accounting degree from WGU. Our accounting programs are designed with input from industry experts and teach the most relevant, job-ready skills that employers are looking for.

And thanks to WGU’s competency-based learning model, you can move through your accounting courses online as quickly as you demonstrate an understanding of the material, potentially saving time and money.

Learn more today.

Frequently Asked Questions

Below are some common questions that individuals interested in an accounting degree may have:

What subjects are covered in an accounting degree program?

Some subjects you can expect to find in an accounting program include: 

• Business law
• Financial markets
• Auditing
• Taxation
• Banking and investments
• Corporate finance

What can I do with a bachelor’s degree in accounting?

With a bachelor’s degree in accounting, you may be most qualified for entry-level positions such as:

• Bookkeeper
• Accounts payable specialist
• Assistant payroll administrator
• Staff accountant
• Payroll accountant

What can I do with a master’s degree in accounting?

There are many job possibilities for individuals with a master's degree in accounting, both in public and private accounting. Some of these jobs include:

• Tax accountant
• Auditor
• Financial manager
• Commercial banker
• CPA
• CFO

Can I double major in accounting?

While you may decide to double major in accounting and another related subject like finance at many other universities, WGU does not provide a means to double major in accounting at this time. You may continue on to a master’s degree program in accounting after earning your bachelor’s.

I’m not happy with my grade in a particular accounting class. Can I take it again?

At WGU, students either pass or do not pass a course. If you don’t pass a course the first time, you may re-enroll and try again.