An introduction to the skills and knowledge developed on an MBA with Accounting programme

A Master of Business Administration (MBA) is a useful degree for an accountant, but not nearly as valuable as an MBA that offers a specialisation in accounting. These specialist MBA degrees offer their graduates broad-based business knowledge while also equipping them with specialised and technical accounting expertise – a perfect blend for any accountant looking to better navigate the financial and strategic aspects of business, and advance into a management or leadership position.

What to expect on an MBA with Accounting programme

Studying for an MBA with Accounting degree develops skill sets that are highly prized in business environments. This expertise includes both theoretical and practical knowledge in business, finance, and – of course – accounting, but it also includes soft skills, such as communication and critical thinking.

Students of MBA with Accounting programmes also usually have a few options in terms of their mode of study. For example, they may be able to study full-time on campus, or study part-time and online. 

Common areas of study on an MBA with Accounting 

Unlike a standard MBA programme, an MBA with Accounting digs deeper into the financial aspects of business, offering insights into financial reporting, auditing, and strategic financial decision-making. However, that’s not to say that MBA with Accounting students don’t also receive a strong foundation in the general MBA curriculum. Instead, the coursework in an MBA with Accounting programme is structured to cover a wide range of subjects that are essential for mastering both the business and the accounting fields. So while accounting-focused MBA students cover foundational business topics – such as business strategy, marketing management, business analytics, and supply chain management – they simultaneously dig into specialised accounting areas, including financial statement analysis, managerial accounting, and cost accounting.

Common hard skills and competencies developed on an MBA with Accounting 

An MBA with Accounting programme teaches a variety of technical skills and competencies that are essential in the finance and accounting sectors. These skills are vital for understanding the numbers behind the business – and applying them can help drive business strategy and profitability.

Examples of these skills include:

• Financial statement analysis. The ability to understand and interpret financial statements is a necessity for accounting professionals. Doing so means they can assess an organisation’s health, evaluate the financial status of a business, identify any important trends, and help inform sound decision-making within businesses.

• Financial reporting. Accountants are required to learn the processes – and standards – involved in sharing financial information with stakeholders, so it’s essential that they are able to prepare accurate financial statements in compliance with regulatory standards and business requirements.  

• Business strategy. A business strategy is what drives growth within an organisation, so it’s important that accountants, in partnership with other business professionals and stakeholders, can help shape and deliver it. 

• Auditing. Accountants often use a variety of techniques and tools for conducting thorough and effective financial audits, and these audits necessitate compliance and transparency, so it’s important to develop expertise in this area. 

• Data analysis. Accounting professionals are frequently required to analyse complex financial data sets in order to make predictions and identify business opportunities, so MBA with Accounting degrees often cover the statistical tools and methodologies used for data analysis.

Common soft skills and competencies developed on an MBA with Accounting

Hard skills are important, but so are soft skills – in fact, they may be even more important, especially for people in management or leadership roles. This is because soft skills are what enable leaders to navigate the complexities of management, teamwork, and tricky stakeholder dynamics in a business environment.

An MBA with Accounting degree hones several of these soft skills, including:

• Problem-solving. Business problems, issues, and complications will always crop up – it’s inevitable. But someone with a mindset for problem-solving will see a challenge as an opportunity and tackle the matter with innovative solutions.

• Decision-making. Problem-solving and innovative solutions are just half the battle – a real leader is confident and capable of making informed, strategic decisions under pressure. 

• Communication skills. The best leaders have strong verbal and written communication skills. Great communication is the best way to build engagement, reduce confusion, and get everyone motivated to work together towards common goals. 

• Leadership skills. While some people are naturally gifted leaders, leadership and management skills can also be learned competencies, and an MBA with Accounting programme offers students opportunities to challenge themselves and develop a variety of leadership techniques that can be put to good use when they’re leading teams and managing projects.

• Interpersonal skills and stakeholder management. Leaders need to be able to build relationships and collaborate with teams – their own, and others. This is why the majority of MBA with Accounting programmes offer ample opportunities for students to network and work together.

• Critical thinking. Business thrives off critical thinking. This is why MBA with Accounting degrees actively encourage mindsets that question assumptions and evaluate arguments critically and constructively, strengthening critical thinking muscles that are then put to good use in the wider business world.

Applying the skills and knowledge gained on an MBA with Accounting 

The skills and knowledge acquired from an MBA with Accounting degree at university or business school open up a variety of career paths for graduates. For example, MBA graduates have career options as:

• Chartered accountants

• Certified Public Accountants (CPA)

• Management accountants

• Tax accountants

• Chief financial officers (CFO)

• Auditors

• Public accountants

• Accounting managers

All of these roles benefit from the unique blend of business and accounting expertise that MBA with Accounting graduates develop. Additionally, the degree provides a competitive edge in the job market, preparing graduates for leadership roles in various sectors including finance, healthcare, nonprofit, start-ups, and other entrepreneurship ventures.

Who is a good fit for an accounting-focused MBA programme?

Anyone with a bachelor's degree and relevant work experience is an ideal candidate for an MBA with Accounting degree, but these programmes are particularly suited for those with an interest in advancing their accounting career in the business and financial sectors, and moving into leadership and management positions.

Take your career in accounting to the next level

Set yourself apart in the fast-paced financial world with the 100% online MBA with Accounting from St Mary’s University. This flexible MBA programme is studied part-time and entirely online, and is designed to develop the leadership and business skills needed for an advanced career in accounting.

With core courses in managerial accounting, cost accounting, and financial statement analysis, this programme will teach you how to use capital budgeting to assess the potential cash inflows and outflows of specific business decisions, determine and control costs by tracking expenditures and revenues, and review and analyse financial statements to ensure better economic decision-making through resource allocation, performance, and achievement of strategic objectives.