Accelerated Accounting Degrees

You can fast-track your career by enrolling in an accelerated accounting degree program.

In 2023, the Wall Street Journal (WSJ) reported that average starting salaries for accountants and auditors rose by 13% from 2021-2022. This trend follows an ongoing nationwide shortage of accounting professionals, prompting employers to increase pay to attract the best available talent.

Given these factors, now is a great time to join the stable, in-demand field of accounting. Use our guide to start your research on the best online accounting programs.

An accelerated accounting degree features a rigorous yet flexible course schedule that can reduce typical graduation timelines by one academic year or more. With this degree, you can save money on tuition and get a head start on your dream career.

Many accelerated students already work in their field of interest and plan to use their education to advance their careers. In a study by St. John Fisher University, about 70% of students enrolled in an accelerated degree program cited career development as their primary motivation for entering.

Online accelerated accounting degree programs may also offer the option to learn at home or wherever you prefer to study. In BestColleges’ 2024 Online Education Trends Report, 39% of online students said their existing commitments, such as work or family, prevented them from attending campus-based courses.

The National Center for Education Statistics reported that first-time, full-time undergraduate students living on campus at public, four-year schools paid an average of $27,100 annually during the 2022-2023 academic year. If you graduate one or two semesters early by enrolling in an accelerated program, you could save thousands of dollars.

You may also be able to save money by seeking credit for career experience and transferring credits from prior schooling.

Accelerated programs are all different, but they have one thing in common—they get you from enrollment to graduation faster than a traditional degree program.

Accelerated bachelor’s in accounting programs can take anywhere from 2-3 years to complete, while accelerated master’s programs usually take around 12 months.

An accelerated bachelor’s in accounting can take 2-3 years to complete. These programs help you earn the 120 credits you need in order to graduate through transfer agreements, credit for non-academic learning experiences, and compact course schedules.

Your time to graduation often depends on how many credits you have to transfer and what life experiences you bring to the program. For example, military members and veterans may be able to count their military experience toward their required credits.

Some accelerated master’s programs allow you to earn both your bachelor’s degree and your master’s degree in 4-5 years by combining the two programs.

Other master’s in accounting programs only enroll students with bachelor’s degrees and offer classes in a compact format that typically takes 12 months to complete. Unlike undergraduate schools, few master’s programs accept more than nine transfer credits.

Accountants work in virtually every industry, but most are concentrated in three sectors: public accounting, corporate (or private) accounting, and financial services. However, you do not have to follow a traditional corporate career path. For instance, you could work as an accountant for a professional sports team, the FBI, or a nonprofit organization you admire.

As a forensic accountant, you might assist detectives in building their criminal cases, or you could work as a healthcare accountant, helping lower costs by negotiating insurance contracts for a medical center.

Consider the following accounting careers as starting points for your job research:

Make sure that any school you attend is accredited by an institutional accrediting agency registered with the Department of Education or the Council for Higher Education Administration.

Institutional accreditation means the entire institution has been evaluated and approved by the accrediting agency. Attending an accredited institution gives you access to financial aid, transferable credits, and a degree with value in the marketplace.

You may also want to look for accelerated accounting degree programs that hold programmatic accreditation with one of the following agencies:

The Association to Advance Collegiate Schools of Business (AACSB) accredits 6% of the world’s business schools. Approximately 96% of alumni from AACSB-accredited institutions are employed, and 70% of Fortune 100 CEOs hold degrees from one of these schools.

The Accreditation Council for Business Schools and Programs (ACBSP) accredits 1,200 programs across 60 countries. ACBSP-accredited schools focus on teaching excellence and measure student outcomes and continuous improvement. The organization approves associate, bachelor’s, and graduate degrees.

The International Accreditation Council for Business Education (IACBE) accredits business programs at all levels in countries worldwide. Smaller than the other two business program accrediting agencies, IACBE focuses mainly on educational outcomes when measuring a program’s success.

You can earn excellent returns on your educational investment with an accelerated accounting degree. For example, students enrolled in Franklin University’s accelerated accounting program with an average number of transfer credits (80) only pay about $17,500 in total tuition fees.

According to the WSJ, starting salaries for accountants and auditors rose to almost $61,000 in 2022, making a bachelor’s degree in this field particularly attractive from a cost-benefit perspective.

If you earn a master’s degree, you could qualify for valuable career-boosting credentials, such as the certified public accountant (CPA) and certified management accountant (CMA) designations.

According to Payscale data from July 2024, CPAs earn an average base salary of nearly $78,000 per year. Meanwhile, Payscale reported that CMAs earned an average of $102,000 per year in August 2024.