Double Major Options for Accounting Students

While earning a degree in accounting can set you up for a successful career, you can expand your job options and knowledge with a double major.

Double majors typically require the same number of credits as a standard bachelor’s degree, and schools generally confer a single degree rather than separate degrees for each major. For these reasons, single and double majors usually have comparable costs.

A double major in accounting and finance is a popular option, along with business, computer science, economics, information systems, statistics, or taxation. Explore your options and the benefits of a double major in accounting and another field in this guide.

Pursuing a double major requires additional effort, but it can also deliver benefits, including:

Schools generally require students to declare their double majors early and meet the admission requirements for both majors. In some cases, institutions may offer double majors in accounting and related subjects in one program or in learning tracks.

Policies, structures, and requirements vary among institutions. Always check with the school in advance to see how it handles double majors in accounting and other subjects.

In terms of subjects to pair with your accounting major, consider these seven options:

A bachelor’s in business administration (BBA) is a general, four-year degree program that covers all areas of business administration. Coursework typically includes business communications, leadership, and data analytics. Oftentimes, you can specialize with a concentration in accounting.

A BBA and an accounting degree program both include business and accounting classes. A BBA, with or without a concentration in accounting, prepares you for multiple career paths in business, especially for management of leadership roles.

Data analytics is the process of compiling and organizing large amounts of data and analyzing that information to make informed business decisions related.

A bachelor’s in data analytics does not have a lot of overlap with accounting. Coursework typically involves software and programming. Data analytics can be similar to information systems, but information systems focuses on technology, where data analytics examines various types of data.

Although the degrees have many different requirements, accounting often relies on data analytics to compile and analyze financial data. Double-majoring in data analytics and accounting can give you an edge when it comes to interpreting and reporting on data trends. It can also broaden your career opportunities in marketing.

Economics programs cover how money, markets, and consumers operate and behave in the presence of specific factors. Knowledge in these areas can dramatically improve your professional prospects.

According to the Bureau of Labor Statistics, the accounting profession is evolving to include more analytical and strategic duties. This shift is mainly in response to technological change, as advanced software packages have automated many tasks that accountants once performed manually.

As a double accounting and economics major, you combine accounting analytics skills with economics insights. This can foster a deeper, more complete understanding of the trends, opportunities, and risks for future employers.

Accounting mainly focuses on tracking the money flowing through an organization. Finance more carefully considers how to optimize that money, looking at ways to maximize its potential to generate business growth and profitability.

Finance majors study methods of obtaining and managing capital. Bachelor’s programs in finance typically cover asset classes, investing techniques, risk management, and financial analysis.

Accounting and finance complement each other, making an accounting and finance double major a natural and popular option. This academic path also helps you develop the analytical, strategic, and management skills that are increasingly vital to the accounting profession.

Information systems degrees explore the ways in which computer science and information technology intersect with business management. Since information systems play such a significant role in modern corporate accounting, some accounting programs offer concentrations in the subject. However, you can also pursue information systems as a double major or a standalone degree.

As a double major in accounting and information systems, you learn advanced data management, organization, retrieval, and analysis skills. Given how important data analytics have become in business, these proficiencies could have a major impact on your career.

Also, note that information systems represents one of the three discipline domains you can select on the CPA Examination. By pursuing this double major, you can position yourself for success on that exam section.

Statistics relies on mathematical practices to collect information by identifying patterns in data and using the results to make future predictions. Statistics degrees require a heavy math load, including coursework in calculus, algebra, and statistical mathematics.

Although both statistics and accounting involve numbers, statistics tends to be more theoretical and math-dominated, while accounting focuses on financial management and tax compliance. Accountants can benefit from statistical analysis if they work in positions that require predictions around finances, such as actuaries.

At the undergraduate level, taxation is a specialization within accounting, business, or law programs. Depending on your school and the tax-related courses it offers through various departments, you may be able to essentially design your own double major in accounting and taxation.

Businesses and individual taxpayers constantly seek ways to minimize their payment obligations while remaining fully compliant with the law. By developing advanced taxation expertise, you could specialize in this area and benefit from a strong demand for advanced tax management skills.

Double majoring is not your only option. You can also apply to a master’s program after earning a bachelor’s degree. Both paths have their own advantages, and either may be more practical in certain situations.

As a double major, you may need to take some extra courses and your schedule may be more intensive. However, you can save yourself the 1-3 years required for a typical master’s degree, along with thousands of dollars in tuition costs. If fast entry into the workforce is a top priority for you, double majoring might be the right choice.

Conversely, adding a master’s degree may make more sense in other situations. For instance, most schools only offer degrees in taxation at the graduate level. If you specifically want a taxation degree, pursuing a master’s program may be the best way to get it.

Also, consider the value of a master of business administration (MBA) degree. MBAs are among the most marketable degrees, and you can earn an MBA in accounting or in other specialized areas. For example, depending on your career goals, pairing an accounting degree with an MBA in finance might lead to more appealing opportunities than an undergraduate double major in accounting and finance would.

Remember that you can also pursue an accelerated bachelor’s-to-master’s program in accounting. This intensive yet efficient program enables students to earn dual bachelor’s and master’s degrees in a shorter timeframe than pursuing the programs separately.