Here are 5 Career Choices with a Master’s in Accounting Degree. There are certain accounting careers that are exclusively available to Master in Accounting graduates. This is because high-level accounting careers require superior analytical, communication, negotiation, administration, and customer service skills and knowledge.
5 Top Accounting Jobs
- Asset Analyst
- Healthcare Analyst
- Contract Administrator
- Purchasing Administrator
- Accounts Payable Specialist
1. Asset Analyst
Asset analysts are responsible for the development, implementation, and maintenance of assigned valuables and deliverables. They may analyze, track and manage codes and descriptions of invoice charges, fixed assets, and operational numbers. Some asset analysts are responsible for net operating income and property value growth, so they may project the value and merchandise of products, services, and assets. Asset analysts may deal with quarterly reporting, operating expenses, capital expenditures, and cash flow perspectives. Others focus on capital project delivery, so they manage priorities and review processes to achieve corporate deadlines and follow up with asset teams.
2. Purchasing Administrator
According to the Bureau of Labor Statistics, purchasing administrators are responsible for purchasing department operations. They ensure that best practices are implemented while ensuring the most favorable terms are sought. They may be responsible for negotiating to price, tracking shipments, verifying invoices, reviewing purchase orders, and providing updates to internal and external customers. They must keep meticulous records of all transactions and work with the accounting department for auditing purposes. Purchasing administrators may supervise employees who create purchase orders, verify specifications, obtain alternative recommendations, and communicate with suppliers and vendors. They must authorize payment for capital purchases by receiving mandatory approval and reviewing documentation.
3. Accounts Payable Specialist
Accounts Payable (AP) specialists oversee activities related to paper invoicing, web-based expenses, corporate credit cards, and purchase order payments. They may execute daily processes, ensure control accuracy, comply with company policies and assist with internal and external audits. AP specialists usually enter invoices and expenses into accounting software for cash flow reporting purposes. They may review their coworkers’ invoices for validity, approval, and coding before payment. AP specialists usually reconcile monthly operational reports, vendor statements, corporate spreadsheets, and AP records. They will resolve vendor inquiries regarding conflicting information, payment terms, and missed deadlines.
4. Contract Administrator
Contract administrators create master documents for new contracts and purchase orders. They supervise employees who scan and create digital files for quotes, contracts and sales orders. They determine if it is necessary to prioritize complex contract issues. Contract administrators may be assigned accounts valued less or more than specific amounts such as $60,000. Contracts valued over this amount will require the input of accounting and finance leaders. Some contract administrators exclusively deal with potential contracts, so they work with business development and administration teams to gather sales data, purchase forecasts, product inventory, and other relevant information.
5. Health Care Analyst
Health care analysts collect, interpret and analyze statistical data to prepare executive reports related to budgeting, forecasting, financial trends, and healthcare economics. They may be asked to prepare long-term financial planning reports for CFOs or they may be asked to determine actual operational costs versus industry-standard costs. They independently address customer inquiries about routine operational and contractual issues. Health care analysts may consolidate and review financial reports, statistical documents, and cost accounting procedures to adjust internal policies and procedures.
Other accounting careers for those with a Master’s in Accounting degree include property analyst, cost controller, implementation specialist, billing administrator, and forensic accountant. A Master’s in Accounting degree is a rewarding educational investment that will open up additional career opportunities.