Forensic accounting is major branch of accountancy that deals with certain litigation disputes. Similar to forensic science and forensic psychology, forensic accounting is a field in which fraud or criminal cases are investigated to extract evidence suitable for the court of law. The finding of accounting forensic specialists is extremely crucial for resolving cases that fall in the category of insurance claims, fraud, embezzlement, money laundering, personal injury claims, and royalty audits. With so many transactions taking place between individuals, organizations, and other stakeholders, the risk of fraud is high. Thousands of dollars are lost every year through criminal activities. This has led to the growth of forensic accounting as a major sector. Those who are good with numbers and wish to pursue a career in law enforcement or criminal justice can consider this occupation as a suitable choice.
There are all kinds of degree programs available in the field of forensic accounting. These programs are being offered by renowned institutes all across the nation. One can pursue forensic accounting online as well, due to the growing popularity if online learning. From associate degrees to professional certifications, all kinds of forensic accounting programs are available online.
Masters in Forensic Accounting
A masters degree in forensic accounting is among the most popular graduate level qualifications one can pursue in this particular field. The program comprises of various theoretical elements and practical courses. These are geared towards providing students with a comprehensive understanding of the industry, fraud and theft, and how accountancy principles are used to detect such issues. During the first few semesters or terms, emphasis is laid upon fundamental accounting subjects such as the following:
Principles of accounting
Further in the program, students acquire understanding of more advanced and career oriented subjects such as fraud detection, techniques of investigation, and malfeasance. However, the curriculum will vary slightly from institute to institute. Skill development is also a major part of forensic accountancy masters programs. Students learn how to practically apply accountancy principles to modern day fraud cases and develop analysis skills, decision making skills, and communication skills. This provides students an overview of what to expect in the professional industry. With a masters degree in this field, you can also seek other professional certifications such as the Certified Fraud Examiner (CFE) and the Certified Internal Auditor (CIA).
You can seek a job as a forensic accounting specialist, auditor, or even work as a financial examiner. There are organizations that hire such experts to work in their accounting department. On the other hand, if you wish to work with the federal government, you can seek employment in different law enforcement agencies. As a forensic accountant, you will be required to investigate financial fraud cases and work with other law experts. Forensic accounting is expected to grow in the coming years and can turn out to be a suitable career choice. According to the US Bureau of Labor Statistics, the median income of accountants and auditors is $61,690.
Questions / Answers
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Q:What will I learn in a Master in Forensic Accounting degree?
A:A masters degree in forensic accounting is designed to help students acquire a logical understanding of the fraud prevention strategies used in business organizations. Some of the key subjects covered in this degree include: managerial economics, information technology, financial management, financial reporting and analysis, human behavior in organization, and business law.
Q:What are the objectives of an online Master in Forensic Accounting program?
A:An online degree in forensic accounting will help you prepare for a career in this field. The program will enable students to acquire skills needed for financial statement analysis and fraud detection. The coursework entails a number of subjects that focus on various facets of the field. Some important areas covered include criminal justice, sociology, computer science, and psychology.
Q:Is an MS in forensic accounting covered in two years?
A:Typically, masters level programs are covered in two years. But the duration may vary as well, depending upon which institute you enroll in. Some institutes re offering accelerated masters degrees that can be completed in less than two years. You can search online to find out what program options you have. Also take a look at our page for more detail.
Q:What skills will I develop in masters in forensic accounting online?
A:Masters degree in forensic accounting is a graduate program designed to provide students with expertise and knowledge in the field of forensic accounting. In the program, you will learn about various fraud detection techniques used, methods of evidence collection, and industry demands. The program will help build skills in communication, problem-solving, and analysis.
Q:How do I get accepted in a school offering masters in forensic accounting?
A:The admission requirements for a masters degree in forensic accounting will depend upon the school you wish to join. These requirements typically vary from school to school. You may have to provide a bachelor degree transcript, a few letters of recommendation, and other documents. Take a look at our page for more information.
Q:What are forensic accounting masters programs?
A:Forensic accounting is a branch of the forensic field. This area focuses upon using investigative methods for collecting evidence against financial frauds. Students will acquire advanced knowledge about fraud investigation techniques, fraud prevention, dispute resolution, expert testimony, and money-laundering. The curriculum and coursework may vary a little from place to place.
Q:Are forensic accounting masters degree offered by top schools?
A:Yes, many leading schools and universities are offering masters degree in forensic accounting. This program is designed to provide knowledge to individuals regarding investigative methods used for detecting financial fraud and thefts. The program will focus on theoretical learning as well as practical learning. To find out more about this program, take a look at our page.
Q:I am thinking of pursing a forensic accounting masters degree. What can I do with this degree?
A:With a masters degree in forensic accounting, you can pursue a career as a forensic accountant. There are many other jobs in this field that you can consider. These include: fraud investigator, government auditor, internal auditor, public accountant, white collar crime lawyer, and financial software developer. The income level is likely to vary from job to job and will depend upon factors such as skills, state, and employer organization.
Q:What will I learn in forensic accounting graduate programs?
A:Graduate level programs in forensic accounting such as the masters degree in forensic accounting is geared towards preparing students for roles such as a fraud investigator. The program will equip students with investigative skills and theoretical knowledge about the field. It is important to remember that the curriculum may vary a little from program to program.