An associate of applied science in accounting requires approximately two years of study at the post-high school level. Often, students pursue this degree at a community college. Students with an associate degree qualify for jobs as bookkeepers and clerks or other entry level positions. The associate's degree coursework provides a good basis for the bachelor's degree, either immediately after earning the associate's degree or after working first. For this reason, it's important to check that the credits earned for the associate's degree will transfer to other schools for a four-year degree.
The Bachelor of Science degree in accounting is a four-year college degree. Students who have earned a BS in accounting work as auditors or managers in corporations. They cannot become CPAs at this level; sitting for the CPA exam requires an additional year of study, or a total of 150 college credits. Some colleges and universities accept students into the accounting major when they enroll as freshman, while others don't accept students into the major until just before their junior year of study.
Master's degrees in accounting qualify the accountant to sit for the CPA exam, as it requires 30 credits beyond the bachelor's degree. Most universities offer Master's degrees in accounting, which typically take about two years to complete. Some schools allow students with bachelor's degrees in accounting to earn the Master's degree in one year, depending upon their previous coursework.
Study beyond the Master's degree is generally reserved for professors. A student who has earned a PhD in accounting normally goes on to teach at the college level and to conduct research. Due to the low number of accounting professors nationwide, especially those with recent accounting work experience, "a group of leaders from over 70 of the largest firms and 10 state CPA societies have joined together to fund the Accounting Doctoral Scholars (ADS) Program." This program provides an annual stipend for up to four years of study for carefully selected candidates who commit to teaching tax or or auditing.