Steps to Earn Your Forensic Accounting Degree in 2024

 Forensic Accounting Degree

Do you want to pursue a career in forensic accounting? Learn the whole process that will lead you to earn a forensic accounting degree in 2024. From picking the right program to negotiating courses along with it, it is a sequel ready to help you with all you need. As a result of the growing number of businesses and organizations looking for skilled professionals, If you want to earn a forensic accounting degree, this article gives you a complete step-by-step guide.

Forensic Accounting Degree Overview

With a Bachelor of Science (BS) in Accounting with an emphasis in Forensic Accounting and Fraud Examination, you can concentrate your accounting study on the examination of financial records to detect fraud.
An online degree in forensic accounting would be helpful in building up an excellent grounding in classical accounting, grasping the audit process in its entirety, and, in the fight against fraud and cybercrime, the possession of the essential investigative abilities that enable one to report, record, and stop such fraud and cybercrime.

At the time of graduation, you also will have the basic knowledge and critical thinking competencies required for a successful career advanced in the area of forensic accounting.
You can advance your career in forensic accounting since the core of the BS Accounting program is matched with the main content areas of the new Certified Public Accountant (CPA) exam, which will begin in January 2024.

Forensic accounting program offer mainly tow level course

Bachelor’s Degree:

Compared to other programs, this level of bachelor’s program mostly focuses on company laws, detection, and the legal implications of accounting. When compared to the situations of certified public accountants, in the case of bachelor’s degree holders in accounting. They can follow different career paths, but it is forensic accounting experts who would enjoy the privilege of accessing these job opportunities, such as in government, forensic law enforcement, and legal businesses.

Forensic analysts are referred to by many titles, and they are quite hybrid, including the examination of frauds. The following degrees in the field may be offered by University/College:

  • Bachelor of Accounting Degree with concentration on Forensic Accounting
  • Bachelors of Accounting with majoring in Fraud investigation
  • Bachelor of Forensic Accounting

Master’s Degree:

Compared with bachelor’s degree programs, master’s-level forensic accounting courses are relatively specialized and much closer to other accounting degrees. Financial statement fraud, modern accounting systems, and auditing are presented in detail as the two most possible forensic accounting trainings.

Graduates from the Master Program in Forensic Accounting are expected to be well-regarded as a logical prospect for higher-level positions involving more responsibility and supervision. Following are some of the degrees that can be earned in this field:

  • Graduate-level study of forensic accounting.
  • Master of Arts in Accounting: Fraud Analysis
  • forensic accounting master’s degree

Why Choose a Forensic Accounting Degree?

Some graduates will come to realize that their jobs might be financially more rewarding, have greater meaning, or provide growth and career development opportunities. Professionals of these areas generally benefit in the following:

Career Options:

A bachelor’s degree in forensic accounting can give you access to various career paths. Graduates can find accounting positions with investigational and litigation operations in addition to standard accounting jobs.

Credentials:

Students who pursue their education in forensic accounting can obtain CFE (Certified Fraud Examiner) credential and CPA) designation in addition to many other credentials pertinent be an accountancy professional.

Career Development:

Through earning their degrees at the graduate/postgraduate level, obtaining certifications, and getting ongoing education, forensic accountants can eventually enter the most in-demand roles in the field.

Earning Prospective:

Experts in the area of advanced forensic accounting have better chances of being hired for management positions in this field that entail higher salaries. An association of Certified Fraud Examiners (ACFE) found out that employees with a CFE title receive a 30% higher salary than others who do not have this credential.

Professional Demand:

The demand for professionals with this type of qualification will increase in the future as the enterprise community becomes more sensitive to illegal activity.

Top University’s Offering Forensic Accounting Programs

The top forensic accounting schools give their students excellent preparation for this challenging field. Earning a bachelor’s degree in forensic accounting can put one in a safe and lucrative field of work. There are many traditional on-campus forensic accounting schools, but there aren’t many online options. You must choose a reliable school if you want to acquire the knowledge and abilities required to be successful in this unusual accounting vocation. The top 05 accounting College in the United States with an emphasis on forensic accounting are listed below.

Florida Atlantic University
Online BBA in Accounting

Forensic Accounting Degree
Florida Atlantic University

The option offered by Florida Atlantic University may be a suitable fit for those looking to earn a degree in forensic accounting online. The FAU offering, which comes in first place on our ranking of the best 5 forensic accounting degree programs, combines convenient online delivery, reasonably priced tuition, and a top-notch curriculum. Additionally, students save money and time while obtaining college credit because the entire curriculum is offered online. The program’s alumni have gone on to work as certified management accountants, public accountants, forensic accountants, financial analysts, and more. U.S. News ranks FAU as the #272nd best national university. Offering are:

  • Business Valuation
  • Forensic Accounting,
  • Digital Accounting Forensics and Data Analytics,
  • Professional Accounting.

Tuition: $7,990

Brigham Young University
BS in Accounting

 Forensic Accounting Degree
Brigham Young University

A bachelor’s degree in accounting from Brigham Young is equivalent to a degree in forensic accounting. There can only be 275 students enrolled in the program, which has 64 credits altogether (not including general education courses). To apply, candidates must complete required accounting or management information systems courses. Additionally, they need to have earned at least a 3.0 in ACC 200 or ACC 300. Courses could consist of:

  • Financial Statement Auditing
  • Managerial Finance
  • Supply Chain Management
  • International Business

Tuition: $6,304

University of Florida
Bachelor of Science in Accounting

Forensic Accounting Degree
University of Florida

Through its esteemed Fisher School of Accounting and Warrington College of Business, the University of Florida grants degrees in forensic accounting. The curriculum aids students in learning a variety of business principles and practices while concentrating on the foundations of accounting. These are the requirements for a post-college job that works across a range of industries successfully. Prominent academicians in their fields teach the curriculum. The great majority have worked with financial institutions in the industry and have PhDs. For college credit, students enroll in courses in:

  • Advanced Accounting
  • Auditing
  • Economics
  • Finance

Tuition: $6,381

University of Maryland Global Campus
Online BS Accounting

 Forensic Accounting Degree
University of Maryland Global Campus

For those looking to earn a degree in forensic accounting degree online, the University of Maryland Global Campus is a great choice. This is because to its recognized curriculum, which is delivered by highly competent teachers, and its flexible online delivery format. Up to 90 transfer credits from other departments or schools may be accepted toward the 120-credit program with approval. It’s a great way to get ready for graduate school, work at different financial institutions, or industry exams. Students enroll in classes like these:

  • Advanced Accounting
  • Auditing Theory and Practice
  • Fraud and Forensic Accounting
  • Internal Auditing
  • Financial Statement Fraud

Tuition: $7,848

Franklin University
Online BS in Forensic Accounting

Forensic Accounting Degree
Franklin University

The online forensic accounting degree program at Franklin University has a strong emphasis on fraud detection. This program is intended for students looking for a demanding, effective, and adaptable accounting curriculum. It’s perfect for people who are too busy to attend classes in person or who don’t reside in a place where a college or university is located. In addition, more students just like taking classes online because they can study the material in-depth without being constrained by a set schedule. Students that are driven by themselves express great satisfaction with Franklin’s online courses. Students finish classes that address challenging topics like:

  • Embezzlement
  • Money Laundering
  • Financial Misappropriations
  • Tax Evasion
  • Data Analysis of Financial Information

Tuition: $9,577

Step to step Earning a Forensic accountant

Financial crimes are discovered and fraud is investigated by forensic accountants. Some people work in law enforcement, looking into offenses like embezzlement and illicit financial activities from both a criminal and civil standpoint. In addition, forensic accountants can study financial records to settle civil disputes as certified public accountants (CPAs) and fraud examiners.

Enroll in an Accounting Program

In order to be eligible for entry-level accounting work, candidates must hold a bachelor’s degree in the subject. Selecting an accounting course of study and finishing the application procedure may require several weeks or even months. Prospective students should seek out universities that offer a forensic accounting emphasis or a variety of electives in fraud examination and forensic accounting when assessing accounting programs.

Specialized Courses in Accounting 

Aspiring forensic accountants should enroll in as many forensic accounting courses as they can during their bachelor’s degree. Students might think about enrolling in courses that offer a major or specialization in the subject.

Obtain Your Bachelor’s Degree

The requirements for the accounting major and general education courses are typically fulfilled by full-time students in four years. Graduates of bachelor’s programs with forensic accounting concentrations are eligible for entry-level jobs in the industry.

Consider a Master’s Degree

The majority of entry-level accounting jobs require a bachelor’s degree as minimum education. Nonetheless, some employers favor applicants with graduate certificates or master’s degrees in forensic accounting. Students can acquire further expertise through master’s programs in forensic accounting. There are accounting credentials that require more credits than a bachelor’s degree, such as the CPA accreditation. A master’s degree can be obtained in two years, but passing the CPA exam in its entirety can take up to eighteen months.

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Requirements for forensic accounting degree program

Students in online accounting programs need to fulfill specific prerequisites. For example, the majority of schools mandate that applicants possess a high school certificate, GED, or an equivalent. Some may ask you to submit a brief essay as proof of your writing abilities, while others may ask for a phone interview with an enrollment counselor or admissions adviser, or a campus visit so you can look around and ask questions.

While some schools do not require any letters of recommendation or scores from standardized tests, they do require an entrance exam (such as a collegiate readiness assessment, in which you must display  your ability to handle college task). Many schools prefer to see SAT or ACT scores and at least one letter of recommendation.

Admission Process forensic Accounting Program

The application materials needed for each online accounting program are different. In general, candidates ought to have the following ready:

COLLEGE APPLICATION:

Transfer students must fill out and submit an online college application form to all schools. Some require applications to be submitted by a certain date, while others don’t. The application is available on the college official website.

HIGH SCHOOL TRANSCRIPT:

Given that the majority of online courses call for a high school degree. You must send your high school transcript as proof of completion if you have a GED or its equivalent. Make direct contact with your high school to obtain a copy of your transcript. You can get assistance from someone in the counseling office or from the registrar’s office.

LETTERS OF RECOMMENDATION:

Professional references may be asked to write letters of recommendation for certain schools. Ask a teacher, professor, boss, or other person who can attest to your credibility for a letter of recommendation.

SAT OR ACT SCORES:

Official score reports from test administrators, such the College Board, a nonprofit that sponsors the SAT, are often delivered directly to institutions that request to see your SAT or ACT results. To request official test results to be delivered to your preferred institution, you must either phone or fill out an online form.

COLLEGE TRANSCRIPT:

Enclose certified copies of your academic records with your application for admission. For an official copy of your college transcripts, place an order with the registrar’s office at your school.

APPLICATION FEES (OR FEE WAIVER):

A non-refundable application fee, often costing between $40 and $70, is required by many colleges. Nonetheless, some universities waive application fees for certain applicants or do not charge one. If there is a cost, it will be requested from you when you submit your online application. Alternatively, you can pay by mail with a check or money order.

Forensic Accounting Jobs and Salaries

A degree in forensic accounting qualifies you for work in public service, auditing, accounting, and law enforcement. Career options and earning potential are influenced by education and experience.
According to May 2022 PayScale data, entry-level forensic accountants make over $59,000 yearly, while forensic accountants with greater expertise make over $100,000.
Between 2020 and 2030, the Bureau of Labor Statistics (BLS) anticipates a 7% increase in the number of jobs held by accountants and auditors, or approximately 100,000 new positions.

Forensic Accountant

To find financial malfeasance, forensic accountants examine financial data. Applying relevant state and federal regulations, they investigate and examine account histories, financial records, and transaction paperwork. In addition to compiling reports on their findings, forensic accountants might give depositions or take part in legal proceedings.

  • Education Requirement: A bachelor’s degree
  • Career Prospects (2020–30): +7%
  • May 2023 Average Annual Salary: $71,979

Forensic Auditor

Auditors evaluate financial operations, investigate and examine financial records, and support an organization’s efforts to maintain effectiveness and efficiency. Auditors may find methods to improve financial procedures while working internally for a business or organization. They make sure that financial laws and regulations are followed. External auditors are outside of an organization and are usually sent to an oversight body to review financial data.

  • Required Education: Bachelor’s degree
  • Job Outlook (2020-30): +7%
  • Average Annual Salary (June 2023): $59,684

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Digital Forensic Investigator

Digital forensic investigators take materials from phones, laptops, and other devices and examine them. They might evaluate financial data on behalf of government organizations and law enforcement, and they might have forensic accounting expertise. Digital forensic investigators search for proof of financial crimes and money laundering, then notify the appropriate authorities of their findings.

  • Education Requirement: A bachelor’s degree
  • Career Prospects (2020–30): +7%
  • June 2023 Average Annual Salary: $66,698

Source : BLS, PayScale

Costs for Forensic Accounting Degree Program

Forensic accounting Costs for bachelor’s degrees differ. Tuition may be influenced by a school’s reputation. Although resident and nonresident charges may be taken into consideration, public universities frequently provide lower tuition than their private equivalents. For students who are residents or not, many online colleges charge the same tuition. Choose your forensic accounting program with lodging, books, fees, and transportation expenses in mind. The complexity of the situation makes it impossible to estimate with any degree of accuracy how much forensic accounting will cost to implement in your company. You should expect to pay an expert in this industry between $150 and $300 per hour, as a general estimate.

Conclusion

Thanks to everyone for reading my article. In this article, we covered how to earn a forensic accounting degree, the step-by-step earning process, the best 5 colleges, and available job opportunities. If you need any information about this article, feel free to comment below. Trust Info BD is always ready to reply to your comment as soon as possible.

FAQs For Forensic Accounting Degree


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What degree do you need to be a forensic accountant?

An authorized bachelor's degree in accounting, finance, forensic accounting, or a similar discipline is required for forensic accountants.

What is the difference between a CPA and a forensic accountant?

A certified public accountant (CPA) and a forensic accountant different in that the former is licensed to open businesses and frequently specializes in topics like financial reporting, taxation, and solvency.

Is a degree in forensic accounting worth it?

According to data from the Association of Certified Fraud Examiners, the annual compensation of a Certified Forensic Accountant might reach $147,000. So, it's clear that going into forensic accounting is a smart career choice.

What degree should I get for forensic accounting?

Forensic accountants are expected to have a high degree of proficiency and are typically required to acquire a bachelor's or master's degree in accounting or a related discipline, such as finance, regardless of whether they work with government agencies, businesses, or individual taxpayers.

 

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