As was said above, graduate school is not necessarily required. As long as you can fulfill the 150 credit hours and necessary accounting and other credits depending on what state you are in, graduate school is not a necessity. I decided to pursue a Masters in Accounting since when I graduated from undergrad I had a BBA, not a degree in accounting and I did not have the necessary credits to sit for the CPA.
There are many ways to have the necessary requirements to have a career in accounting without graduate school, including double majoring or taking classes online.
The short answer is no, graduate school is not needed if you major in accounting. There are many jobs that an undergrad Accounting degree can attain right out of school.
The real question is what you are trying to do with an Accounting degree. In my opinion, if you are a business major, there is no better degree to have as Accounting provides a great foundation to really all Business disciplines. Many accountants go on to do jobs in Economics, Finance and Marketing among others (and may later attain an MBA). But, saying that, if you want to work in an Accounting firm and move up to be a Partner, or move up in other disciplines, having advanced degree has become a real necessity. This is why many recent undergrads take the CPA as early as possible as they are still fresh from schooling and early enough in their life/ career, that they can devote the time necessary to study. As far as going to Graduate School for a Masters in Taxation, that is more geared to either Education field or a Partner in a Accounting firm.
No. Particularly if you obtain your CPA.
However, an advanced degree may be more desirable in some areas of accounting (tax, for example) than in others (audit, for example). The more specialized your interests, the more valuable an advanced degree will become.
Hello Ayomide, good question. My friend is an accountant and does not have a CPA which one would get at grad school, he has an undergrad degree in accounting. He has a good career in accounting. He did not have the aptitude or the money to get the CPA. His choices of accounting type jobs and what they pay were limited by not having the CPA. The Certified Public Accountant is an internationally respected degree, it opens doors to a bigger variety of jobs, and the pay is better. But it is not a must have. Good luck in your endeavors.
No, but you must have 150 semester hours of education to sit for the CPA exam. I fulfilled this with an MBA, but MPAc is becoming a popular option, as well. Of course, you don't need a CPA for most jobs. Like grad school, licensure just opens more doors to you.