So I am about to graduate with a Master of Accountancy. My undergraduate degree was Accounting. I am planning to work for a couple years and obtain my CPA license. I eventually want to focus more on a specific area regarding Project Management or Engineering. I do not want to become an engineer but I am and have been very interested in this area of study.
Are there any masters that connect the two fields (Accounting and Engineering)? Financial Engineering - if that is a thing? I feel like focusing on a second masters degree would give me a better chance to move further up and add more value in a company that deals with Engineering or that sort.
If this is absolutely a dumb idea to consider please let me know. Or if you know what other masters program would be a better fit for me that would be very much appreciated.
I wouldn’t start the second masters right away…I would wait a few years to see if it would benefit me in the company I am working for.
Financial engineering has little in common with accounting. It is the application of high level mathematics (stochastic calculus, spectral analysis, some elements of physics, stochastic processes, stochastic differential equations, computer science/AI and others) to prediction and optimization of financial instrument performance. A typical undergraduate accounting major does not delve heavily into calculus and optimization. Most of the accountants I know didn’t have any mathematics in college beyond basic probability and statistics, algebra, or possible some introductory non-proof/theory based calculus.
Except that if one went to a top competitive undergraduate business school (such as UC Berkeley Haas), a year of calculus would be required for admission. I am sure Penn’s, MIT’s undergraduate business are the same. Calculus was rarely used in business school or in the accounting profession.
There are masters programs in the finance areas offered by graduate business schools for engineers. These students generally have undergraduate engineering degrees.
Have you looked into the firms that specialize in cost segregation studies (aka “cost segs”)? It requires an understanding of the tax rules as well as a deep understanding of building & construction. Might be a good fit for you.