Accounting Education and Career Guide
September 4, 2024
Benefits of earning an associate degree in accounting
Written and reported by:
Rachel Horozewski
CPA, Public Accounting
Is an associate degree in accounting worth it? This is the question that countless individuals face when considering returning to school or changing career paths. Advancing your career in accounting yields personal and professional benefits.
From promotion eligibility to new business skills, a degree could provide the leverage and career growth you are looking for. In this article, we’ll cover just nine of the top benefits of earning an associate degree in accounting.
You'll learn a variety of business skills
The first benefit of earning an associate degree in accounting is the skillset you acquire. Most programs cover a variety of topics, including general accounting, bookkeeping, payroll, business communication, computer applications, income tax and economics. This gives you an overview of topics and situations you will face in an accounting role.
Not only will you improve your technical skills, but you will develop your soft skills, like leadership and communication. These factors are essential when advancing your career or applying for entry-level roles in accounting.
It may be transferable to a bachelor's degree program
Courses offered in an associate degree program are often transferable to a bachelor’s degree in accounting. A bachelor’s degree is needed if you plan on pursuing a CPA license or want to work your way up to a master’s degree or an MBA in accounting. A bachelor’s degree program in accounting will spend the first year or two covering the basics through intro-level courses. Many of these courses are offered in an associate degree program.
Additionally, starting with an associate degree in accounting is beneficial to have baseline expertise to secure a position in accounting while working your way up to a higher degree. If you do plan on enrolling in a bachelor’s accounting program in the future, be sure your program is accredited and your credits will transfer by double-checking the school’s transfer policy.
There are flexible course options and timeframes
Associate degree accounting programs offer flexible course options and timeframes. For example, there are dozens of institutions that have fully remote associate degree accounting programs, allowing you to complete your degree from anywhere.
In addition, online programs and in-person courses have flexible timeframes, such as night classes. This helps you secure your degree without disrupting your life or existing work schedule. Not to mention that courses for an associate degree in accounting can be more affordable compared to classes in a bachelor’s degree program.
You may develop a competitive advantage
Entry-level accounting positions don’t always require higher education. Roles like payroll processes, bookkeepers and administrative assistants can all be completed without a formal degree. However, this can result in more competition when applying for new positions and promotions. How will you differentiate yourself from other applicants?
By completing an associate degree in accounting, you can set yourself apart from other applicants. Companies see that you have taken courses in accounting, giving you more technical experience in different tasks and topics. This might be the driving force for a company hiring you over another candidate. Additionally, with a competitive advantage like an associate degree in accounting, you may be able to secure a higher pay rate and compete for promotions.
Can prepare you for professional certifications
There are more certifications available for accountants than the CPA. In fact, there are countless certifications that you can apply for with the knowledge learned through your accounting associate degree. Some of these certification programs are related to software, while others test your technical skills. For example, a Certified Bookkeeper (CB) designation tests your knowledge of adjusting entries, accounting error corrections, payroll, depreciation, inventory and internal controls.
According to the American Institute of Professional Bookkeepers, “If you are an in-house bookkeeper, certification can increase your salary and raise your status—or get you a higher-paying bookkeeping job. For example, 54% of CBs got a new job, promotion or higher-level responsibilities with their current employer when they become a Certified Bookkeeper —or got a new job.”
An associate degree in accounting gives you the background knowledge needed to pass these exams, helping you advance your career.
May open the door to new career paths
Do you want to move up the corporate ladder? Many companies limit career growth based on your educational background. For example, in some large accounting firms, individuals cannot become managers without having a CPA license. Even if you aren’t striving to become a manager at a big-name firm, you might still have career growth goals.
Returning to school to pursue an associate degree in accounting shows your current or future employer that you value growth and are committed to learning. This may generate new opportunities for promotions and pay raises and help you beat out other applicants.
An associate degree in accounting gives you the background knowledge needed to pass these exams, helping you advance your career.
Can generate networking opportunities
In business, it’s about who you know, not necessarily what you know. By surrounding yourself with other peers in the accounting industry, you are developing your network. This may lead to new job opportunities, provide professional growth, refine your skills and build your personal image.
Do you think an employer would be more likely to hire someone they have never met or an individual who is highly recommended by a colleague? Probably the latter. Connecting with peers and professors through your associate accounting degree program may yield lifelong results and pave the way for the future.
Can introduce you to accounting software
Accounting software is integrated into many of the duties of accountants and bookkeepers. Accounting associate degree programs will have a software course worked into the curriculum that introduces you to programs used on a daily basis. This could be navigating Excel or learning how to reconcile bank accounts in cloud-based programs. Knowing this information is non-negotiable to advance in your career as a bookkeeper or accountant.
Although many companies will offer on-site training, it can be helpful to have a baseline understanding of how to operate these programs.
Allows you to explore freelance work
If working in a typical nine-to-five role doesn’t sound appealing to you, earning your associate degree in accounting is still beneficial. For one, you can start offering freelance services, such as payroll processing, receivable and payable management and other bookkeeping work. This may give you the ability to start your own business and work on your time.
It can be difficult to start freelance accounting without some formal educational training. Additionally, having a degree builds credibility and trust with future clients, proving you have a technical background and can properly maintain their books.
Summing up
Are you ready to leverage the benefits of earning an associate degree in accounting? Pursuing a degree in accounting may open the door to new career opportunities, help solidify promotions and pay raises and expand your knowledge in the field. Not to mention that it’s a great first step if you plan on enrolling in a bachelor’s degree program or sitting for the Uniform CPA Exam. Leveraging these benefits starts with selecting the right university. For help matching you with the right accounting program, simply click the Find Schools button to get started with you long term goals.