<p>I am applying to grad school for an MS in accounting, and am overwhelmed by the number of choices my school offers for specialties. I have all of the following to choose from:</p>
<p>Financial Analysis
Audit Services
Taxation Services
International Services
Information Management
Managerial Services
Internal Audit</p>
<p>I'm not sure which area of accounting I want to go into yet, so it's hard to make a decision. Which of these is the most broad? Which is the most in demand? If my ultimate goal is to take the CPA exam, does it really matter which area I go with? </p>
<p>If your ultimate goal is to be a CPA, you're probably going to want to work in audit for the first few years after graduation. Nothing sets up your career better than putting in 3-8 years in Big 4 audit. Tax is another option.</p>
<p>"Which of these is the most broad?"</p>
<p>I wouldn't say any of these areas are particularly broad, although the experience you gain working in audit and tax tend to be prereqs to some of the better jobs in other fields. For instance, most upper level accounting managers and internal auditors are ex-Big 4 audit alumni. Most tax department managers have experience working for a large public accounting firm in the tax department.</p>
<p>"Which is the most in demand?"</p>
<p>The vast majority of the positions out there right now are in audit.</p>
<p>"If my ultimate goal is to take the CPA exam, does it really matter which area I go with?" </p>
<p>Sort of. If you want to take the CPA exam, you're going to want to work for a public accounting firm--they tend to be the best at supporting recent graduates in taking the exam and the experience is a prereq to becoming licensed in most states. You certainly can just concentrate in whatever area you want and then go work in audit/tax, but it would make more sense to study the area you want to work in. I would also take a look at the class requirements for the exam in your state--make sure that, whatever concnetration you choose, you're fulfilling those requirements.</p>
<p>There is also more subspecialities that are in big damand. Forensic accounting (fraud investigation) is a big deal. Financial planning is another option.</p>