Study Accounting in USA

Accounting is one of the most popular degrees that any international student around the world can obtain. They always have the opportunity to work with numbers in a critical way – along with people and organizations to meet various goals and objectives. This qualification or stream is certainly growing, and gives students the opportunity to have a successful career internationally or in their home country. Organizations often require to keep a check when conducting business operations.

Accounting or accountancy usually fits this need because it allows companies to create financial reports that can be compared with other companies or an industry standard. Business owners and managers use accounting to review the efficiency of operations and this information helps them take business decisions and improve the company’s profitability.

Companies often use a mix of management and financial accounting in their business operations. Management accounting is responsible for tracking internal business costs, then allocating these costs to goods or services produced by the company. Management accounting may also be responsible for forecasting future sales and creating budgets to manage expenditures. Financial accounting is the process of creating financial statements based on the company’s financial information. These financial statements may be used by internal or external business stakeholders for making business or investment decisions.

Importance of Accounting / Accountancy

Accounting or accountancy is important as it provides quantitative information of financial nature to various stakeholders which is intended to be used in making economic decision. These stakeholders include investors, management, government, suppliers, financiers, regulators etc. Business accounting help in making a number of short term and long term business decisions which helps an enterprise to grow as well as penetrate the market. The three major statements which is generated by Business accounting system are as follows:

Profit & Loss Account (Income Statement)
Income statement shows the net income generated/net loss incurred by an enterprise during a particular accounting period.

Balance Sheet or Statement of financial position
Balance sheet statement shows the financial position of an enterprise as on particular date. Closing balance of various assets and liabilities are reported in balance sheet. The excess of assets over liabilities is capital.

Cash Flow Statement
Cash Flow Statement shows how changes in balance sheet and income statement which affect cash and cash equivalent. Basically it shows cash inflows and outflows among operating, investing and financial activities of an enterprise.

Why should we choose to study accounting in USA?

Studying accounting or accountancy is proving to be a great career field for incoming international students to the US. Students often decide to go for further education like a master’s degree, or CPA (Certified Public Accountant) which is a major designation among accountants in the US. USA is the topmost university destination choice for study abroad and hosts more international students than any other country in the world. According to the Academic Ranking of World Universities:

• 16 universities in the USA are ranked in the world’s top 20 universities
• 52 US universities are ranked the top 100 universities worldwide
• 77 American universities ranked the best 200 universities in the world

Getting an American degree is the key to a successful future opening the door to a prosperous and rewarding career. Besides boasting of the world’s best university systems, it also offers flexible education opportunities with Global Pathways to bachelor’s degrees, fast-tracking master’s degrees and prestigious MBAs. Students studying accounting or accountancy in USA have the chance to learn about bookkeeping, debits and credits, taxes, financial statements and much more from the best professionals in the field leading to an opportunity of meeting people with many different backgrounds.

Institutes & Universities offering Accounting / Accountancy in USA

1. Roosevelt University
   1. Master of Science in Accounting (MSA)
2. LIU Post
   1. Master of Science in Accounting (MSA)
3. LIU Brooklyn
   1. Master of Science in Accounting (MSA)

The common entrance examination required for Roosevelt university is GMAT while for LIU Post & Brooklyn it’s GRE. Employers seek masters of accounting graduates because they have personal, in-depth training from leading industry professionals. Students work on teams in small classes, completing at least 31 semester hours of core accounting skills. Curriculum includes asset valuation, income determination, auditing, managerial accounting and federal taxation. The MSA program offers two tracks:

1) Professional Accounting and

2) Forensics Accounting.

Students in the MSA program may choose either of two tracks. The MSA program also enhances the student’s preparedness to earn the following designations: Certified Public Accountant (CPA), Certified Internal Auditor (CIA), Certified Fraud Examiner (CFE) and Certified Managerial Accountant (CMA).

You can acquire comprehensive information from StudyandWorkAbroad.in, if you have any doubts regarding the admission or study process.