The 15 Cheapest Online MBA in Accounting Management Schools

Cheapest Online MBA in Accounting Management - featured image

When everything is said and done, accounting is truly about determining where the limited financial resources are actually flowing so that their allocation and utilization can be improved. The administration of internal operating activities is the main emphasis of management accounting.

Management accounting typically examines issues like product costing, margins, income predictions, and forecasting to address firm operational efficiency and aid business owners and managers in their decision-making.

Additionally, managerial accounting regularly addresses a variety of “what-if” scenarios, including:

  • What if I increase or decrease our pricing?
  • What if I look for other distributors?
  • What if I cease marketing a particular item?
  • What if I modernize my equipment?
  • What if I bring on more salespeople?
  • What if I change our business strategy?

Management accounting weighs the pros and cons of these “what-ifs.” It evaluates whether the “what-if” scenario will boost productivity and profitability for the company or result in production issues or revenue loss.

Management accounting also deals with financial statements. However, the reports are more frequently used to develop strategic plans, clear roadblocks, and improve operations than to provide information on how well a company is doing.

Because management accounting is in-demand, more and more students with a bachelor’s degree in accounting are considering getting a master’s degree. The best online MBA programs will open the doors to roles that supervise a company’s finances at both the entry and executive levels.

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The Value of an Online MBA in Accounting Management

Graduates of a Master of Business Administration in accounting management are prepared to advance into roles like chief financial analyst, finance & accounts manager, budget analyst, and treasury & payroll manager, among others. While you might not receive a senior-level job right after graduation, you’ll be able to work in public and private sectors with this MBA. You’ll be able to find employment in any field of your choice because every business requires someone who can oversee its finances and ensure that it complies with all legal requirements.

Consider enrolling in one of the most affordable web-based MBA programs in accounting or accounting management if you’re a working student who supports a family or a prospective student who prefers to study in the convenience of their home.

Students in online MBA programs benefit in various ways both during their studies and after graduation, including improved flexibility and access to numerous resources. Because of this, many students find business schools with online MBA programs considerably more appealing than conventional on-campus ones.

For some reason, many people think an online MBA will be easy—no “easy” online MBA exists. The demanding courses and high standards apply regardless of whether you enroll as an online or on-campus student. Prospective online students should be ready to devote the same time and effort to their studies that on-campus students do.

Additionally, these online MBA degrees are not solely focused on accounting management courses. These degree programs may also discuss other fields of accounting, such as financial management, financial accounting, strategic marketing management, human resource management, and supply chain management, among others. 

The 15 Cheapest Online MBA in Accounting Management

Davenport University

Davenport University

Grand Rapids, Michigan

Davenport University’s online Master of Business Administration in Managerial Accounting is one of the cheapest online MBA degrees intended for students with a bachelor’s degree who are starting their careers in business, as well as mid-level to senior-level managers who wish to enhance their careers by strengthening their skill sets. The MBA program is facilitated by world-class faculty that will help students achieve their educational and professional goals. 

Students will have numerous opportunities for hands-on learning, including class projects, service learning, and research. Online MBA students will also participate in many managerial and financial accounting networking activities.

Students will gain focus on five essential competency areas:

  • Financial reporting
  • Planning, budgeting, and forecasting
  • Performance management
  • Cost management
  • Internal controls

This affordable online MBA is accredited by the IACBE or International Accreditation Council for Business Education. DU’s faculty are experienced managerial accounting and cost accounting professionals, the majority of whom are doctorate holders. Because of the school’s accreditation status, faculty, and affordability, graduate students can expect to receive a high caliber of education without breaking the bank. 

Liberty University

Liberty University

Lynchburg, Virginia

Liberty University’s online MBA in Accounting allows students to focus their studies on managerial accounting and other core courses that will help them prepare for financial and management accounting from mid to upper-level positions. This online MBA is known to be one of the most affordable online MBA programs that have not increased tuition and fees in 7 years. All graduate students should expect to receive financial aid from the school. 

Online MBA students should expect to have a rigorous MBA program through a series of online 8-week courses taught by the school’s world-class faculty.

Students will study essential areas of business and accounting management while also gaining mastery of several topics, including:

  • Tax Preparation
  • Auditing
  • Accounting Theory
  • Accounting Information Systems

Liberty’s online MBA in accounting, accredited by the ACBSP or Accreditation Council for Business Schools and Programs, is recognized for being America’s top school for affordability and online learning. Students will have accounting ethics and best practices through the school’s top-performing professors, which prepares students to become successful business leaders with accounting training.

Brenau University

Brenau University

Gainesville, Georgia

Brenau University offers one of the most affordable online MBA programs designed for students seeking certification as a Chartered Global Management Accountant (CGMA) or a Certified Management Accountant (CMA). While this MBA in Managerial Accounting is conducted 100% online, students have the opportunity to attend on-campus networking activities that will serve as their bridge to open up new career opportunities. 

This online MBA program prepares future managerial accountant leaders to solve business “what-ifs.” This degree program will help pave your way to any in-demand field regardless of your professional goals.

Core courses for this concentration include:

  • Fraud Detection and Internal Control
  • Financial Statement and Business Analysis
  • Finance or Corporate Risk Management Accounting
  • Taxation
  • Valuation

The cheap online MBA in Managerial Accounting degree program is Accreditation Council for Business Schools and Programs-accredited. Graduate students also acquire certifications that allow them to become competitive in the job market. Additionally, online students will be taught by the same on-campus faculty with considerable accounting and financial analysis experience.

Emporia State University

Emporia State University

Emporia, Kansas

Emporia State University offers one of the cheapest online MBA in Accounting programs designed for students who are already working in the field and are looking to enhance their competency skills in inventory management, budgeting, pricing, cost behavior, activity-based costing, cost management, and capital investment.

Because the program is accelerated, graduates can enter the workforce with a master’s in as little as a year. That means graduates will begin working and earning money up to two years earlier, bringing their main financial goals, like paying off their college loans, quicker.

ESU’s online MBA in accounting offers students a broader knowledge of business practice and accounting management than most MBA programs. ESU’s online accounting MBA is especially beneficial if you intend to advance your accounting career and manage financial professionals or corporate financial decision-making.

This MBA degree offers three electives:

  • Fraud Examination
  • Advanced Auditing and Advanced Accounting Information Systems
  • Government and Not-for-Profit Accounting

ESU’s affordable MBA in accounting, accredited by the AACSB – Association to Advance Collegiate Schools of Business, enables students to properly traverse the fields of financial management and reporting, taxation, and auditing. You will be set to become an Auditing Manager, Budget Analyst, Chief Financial Officer, Financial Manager, or Tax Manager. This MBA degree is your springboard for becoming a certified public accountant.

The University of Texas Rio Grande Valley

The University of Texas Rio Grande Valley

Edinburg, Texas

The University of Texas – Rio Grande Valley has one of the most affordable MBA programs with an accounting concentration designed for students seeking enhanced skills in accounting management, tools, and techniques to have a greater depth in analyzing financial information. This MBA in accounting degree helps students develop essential skill sets for business advising within an organization and an individual. 

To help students become future leaders in accounting, the MBA in accounting emphasizes core courses that will help students review significant aspects of a business.

The MBA degree offers students competency courses in:

  • Accounting and Financial Analysis
  • Managerial Economics
  • Advanced Corporate Finance
  • Management Information Systems
  • Marketing Strategy
  • Organizational Behavior
  • Production and Operations Management
  • Strategic Management
  • Business Research

The inexpensive MBA in accounting with managerial accounting courses at UTRGV, accredited by the AACSB or Association to Advance Collegiate Schools of Business, discusses accounting and control difficulties and how to leverage past data for planning. In addition to managerial accounting knowledge, students will learn about corporate law and the commercial legal environment through online classes conducted by faculty with years of experience in upper-level accounting positions.

University of Southern Indiana

University of Southern Indiana

Evansville, Indiana

The University of Southern Indiana offers one of the fastest online MBA in accounting designed for working professionals looking to learn about advanced management accounting and develop key competency knowledge in devising the right corporate financial strategy and financial planning to drive sales and operation. The online MBA in accounting program has two versions to help students manage the time and effort necessary for the degree. The hybrid structure allows students to enroll in 8 or 16 weeks of online or on-campus classes. Students can complete online courses in 8 weeks using the online-only format.

To help students develop the advanced management accounting skills and knowledge they need, ISU’s online MBA in accounting offers three accounting management core courses:

  • Financial Statement Analysis
  • Seminar in Auditing
  • Accounting Regulation & Compliance

ISU’s online MBA in accounting, accredited by the Association to Advance Collegiate Schools of Business, helps students become proficient in financial statement interpretation, financial reporting, auditing, internal control concerns, risk assessment, ethical standards, financial regulation, fraud, and corporate governance. The school’s MBA faculty are doctoral degree holders in business programs and have years of experience in upper-level positions in both private and public sectors. 

Florida Atlantic University

Florida Atlantic University - College of Business

Boca Raton, Florida

Florida Atlantic University’s online MBA is one of the best choices for students looking for cheap MBA programs. FAU’s college of business MBA in accounting prepares students to become proficient in using accounting data internally to promote organizational efficiency, track the organization’s progress toward achieving its stated goals, and improve the inputs and outputs that affect the supply chain. This degree will help you land executive-level jobs and become valuable in the field.

To help shape future accounting leaders, FAUs’ online MBA in accounting degree emphasizes two competency courses:

  • Advanced Information Systems 
  • Advanced Financial Reporting 

FAU’s web-based MBA is Association to Advance Collegiate Schools of Business accredited. It is facilitated by the school’s esteemed business professors, which teach students the theory and applications of accounting principles and trends to keep up with the current financial markets. FAU is 1 of the only 48 colleges and universities worldwide to gain membership in the IIA’s Internal Audit Education Partnership (IAEP).

Fitchburg State University

Fitchburg State University

Fitchburg, Massachusetts

Fitchburg State University is one of the best MBA options for busy working students who are looking for various options for financial aid opportunities. FSU’s online MBA in Accounting helps students comprehend the roles of managerial and cost accounting in the areas of budgeting, controlling, and decision-making, where the entity uses the outcomes of its financial performance to make immediate and long-term choices. 

To equip graduate students with the necessary skills and knowledge for upper managerial accounting positions, the MBA at FSU emphasizes these courses for managerial accounting students:

  • Advanced Managerial Accounting
  • Accounting Theory
  • Organizational Behavior and Development
  • Management Information Systems
  • Marketing Management
  • Corporate Finance
  • Strategic Management

FSU’s online MBA in Accounting, accredited by the IACBE or International Accreditation Council for Business Education, has multiple start dates each year and is offered in an accelerated format—perfect for working professionals.

With the help of the school’s faculty and their doctoral degrees, students will be rigorously trained to integrate theory and practice across functional business domains and communicate the critical theories and concepts in accounting and its subfields. Students can use their knowledge to develop the right decision-support techniques for strategic analysis, planning, implementation, and control.

University of St. Mary

St Leavenworth, Kansas

The University of St. Mary offers one of the most affordable online MBAs in Accounting designed for professionals with at least a year of experience in the business industry. Graduate students can complete the course in a year by enrolling in two courses per eight-week session, and at their own pace, students can mix and match the number of courses they take. This is a “triple advantage program” wherein students can choose one concentration while exploring managerial accounting, managerial economics, and managerial finance. 

USM’s online MBA allows students to choose a concentration. The school assigns an academic counselor for each student in choosing one of three concentrations:

  • Forensic Accounting
  • International Accounting
  • Data Analytics for Decision-Making

The University of St. Mary’s online MBA in accounting, accredited by the International Assembly for Collegiate Business Education (IACBE), necessitates a serious commitment to both career and school. Candidates without prior business education may need to take some preparatory courses in addition to completing case studies, videos, mock scenarios, and personal assessment tools. Students who complete this MBA program may go on to hold executive roles in a variety of industries in public and private agencies.

St. Cloud State University

St. Cloud State University

Cloud, Minnesota

St. Cloud State University offers an affordable online MBA in accounting designed for accounting professionals who want to advance management credentials while helping firms achieve better results. Students in SCSU’s online MBA will construct frameworks that leverage accounting data for managerial decisions dependent on finances. This degree will help you build general leadership and business skills, making you stand out from the crowd in some situations.

To help accounting students achieve their educational and career goals, the program offers three concentrations:

  • Accounting for Managers
  • Financial Statement Analysis and Business Valuation
  • Seminar in Accounting

St. Cloud University’s online MBA in Accounting, accredited by the AACSB International, provides students with a highly supportive faculty with expertise in accounting. Students become equipped with the skills, including leadership, communication, ethics, sustainability, and critical thinking, to advance their current profession or break into advanced roles. 

The curriculum strongly emphasizes experiential learning, which encourages students to explore real-world learning opportunities that will help them significantly impact their social and ethical responsibilities within their organization. 

LaSalle University

LaSalle University

Philadelphia, Pennsylvania

LaSalle University’s online MBA in accounting is one of the most-preferred cheap online MBA programs for self-directed working students. This online MBA in accounting is designed to help students enter general management positions in business through rigorous training in various topics, including managerial accounting, financial accounting, financial market, and business economics for managers. Graduates can find employment in the government, state, local, or nonprofit organizations. 

LaSalle’s online MBA in accounting helps students prepare for their career goals by providing specializations, which they can further tailor based on their schedule and educational needs.

There are three specializations for LaSalle’s MBA in accounting:

  • Accounting Analytics
  • Accounting Information and ERP Systems
  • Accounting for Managerial Decision Making
  • Financial Accounting Theory and Current Practices

LaSalle’s online MBA in accounting, accredited by the AACSB, focuses on Enterprise resource planning (ERP) systems, online privacy, and financial security issues. This helps students aiming for mid-level managerial positions easily respond to complex data requirements and develop increased reporting and decision-making capabilities. This skill will help students increase production and procedures, thus helping a company increase sales and profit. 

Northeastern State University 

Northeastern State University

Tahlequah, Oklahoma

Northeastern State University offers one of the country’s least expensive online MBA programs in accounting management, designed for students with at least three years of professional experience. NSU’s online MBA in Managerial Accounting and Finance will give students a solid grounding in financial and management accounting and knowledge of how to use accounting to support and coordinate choices made by business owners, managers, and employees. 

Students will learn how to efficiently organize, generate, interpret, and convey crucial financial information, which will help enhance internal procedures and processes within a company.

To helps students design their curriculum to fulfill their future career goals, NSU’s MBA in managerial accounting and finance allows students to choose 6 hours of electives in:

  • Taxation and Business Strategy
  • Global Accounting and Financial Analysis
  • Investment Analysis and Portfolio Theory
  • Derivative Securities: Analysis and Accounting
  • Business Law
  • Special Topics in Business Administration 

NSU’s online MBA, accredited by the ACBSP or Accreditation Council for Business Schools & Programs, is highly structured, with every student taking identical primary sequences each semester and must exercise extreme self-control and dedication. The MBA program develops the best decision-makers for the country’s businesses, industries, academic institutions, and government by integrating case studies, interactive computing, research projects, and lectures.

Park University

Park University

Parkville, Missouri

Park University offers an affordable online MBA in Management Accounting designed for working professionals. Students are required to participate in online group projects and are given a chance to gain practical experience through projects and case study analysis to develop their leadership abilities. This advanced degree will help students develop personal and professional objectives whether they want to work in the for-profit, nonprofit, or government sectors.

To further sharpen students’ focus and knowledge of control mechanisms, decision-making, financial planning, financial analysis, and professional ethics, Park University provides these core courses for their MBA in management accounting:

  • Accounting Research and Analysis Credits
  • Internal Auditing and Control Mechanisms Credits
  • Advanced Managerial Accounting Issues Credits
  • Management accounting leadership – the role of the CFO

Park University’s online MBA in management accounting, officially acknowledged by the ACBSP or Accreditation Council for Business Schools and Program, is the perfect option for professionals competing for a Chief Financial Officer role.

Under the supervision of world-renowned faculty, MBA students will analyze different types of business environments and all of their elements to find opportunities and threats and then actively participate in designing a workable plan that successfully uses internal competencies to achieve organizational success on a national and international level.

Mid-America Christian University

Mid-America Christian University

Oklahoma City, Oklahoma

Mid-America Christian University offers an affordable online MBA in accounting degree tailored with working professionals in mind that helps them gain in-depth graduate coursework to prepare them for a leadership position within the business sector. Accounting management students will undergo rigorous training in cost reduction, competitor analysis, variance analysis, tender preparation and review, strategic planning, and investor assessment to help them become competitive in accounting management. 

MACU’s online MBA in accounting equips students with the essential knowledge that will enable them to comprehend how a company expands, generates revenue, allocates profits, and generate cash flow through these courses:

  • Advanced Cost Accounting
  • Advanced Accounting Information Systems
  • Business Taxation
  • Advanced Auditing
  • Managerial Economics in the Globalized Environment
  • Modern Corporate Finance
  • Marketing Analysis and Strategy
  • Strategic Business Management

Mid-America Christian University, accredited by the Higher Learning Commission (HLC), offers both academic and practical training, with a close examination of the legal, financial, and human resource elements of corporate management through various topics related to marketing, organizational behavior, and international business. Students will develop senior-level abilities to help them land mid to upper-level management positions. 

Louisiana State University

Louisiana State University

Shreveport, Louisiana

Louisiana State University offers one of the cheapest online MBA programs intended for working individuals who want to advance their skill sets and take on roles in business leadership through knowledge of pertinent business principles, solid professional experiences, and networking opportunities.

The online MBA degree courses will give students a strong foundation in managerial accounting and finance while also assisting them in building their leadership and organizational strategy skills.

To give students a better grip on managerial accounting and finance, they’ll study these core courses that will help them gain advanced knowledge:

  • Managerial Use of Accounting Data
  • Economic Analysis for Management
  • Financial Management
  • Management Information Systems
  • Organizational Behavior
  • Organizational Strategy and Policies
  • Marketing Strategy

Louisiana State University’s web-based MBA, accredited by AACSB International, instills graduates’ leadership and organizational abilities into students, enabling them to succeed in a managerial position with greater responsibility and remuneration.

Frequently Asked Questions

What’s the scope of an MBA in Accounting Management?

MBA in managerial accounting trains students to maximize profit and minimize losses. It concerns how data is presented to predict financial discrepancies that will allow managers to make critical decisions. The scope of managerial accounting is vast and covers many company procedures, including:

Organizing financial data

Managerial accounting rearranges data from financial accounts and relies on it to guide decision-making. The management can only make managerial choices by using a specific financial accounting system.

Explain financial connections

Financial accounting allows you to conclude numerical results like profit and loss, but management accounting allows you to talk about the causal links that led to those conclusions.

Use strategies for profit

Standard costing, marginal costing, project appraisal, and control accounting are a few simple-to-understand strategies used in managerial accounting. The main purpose is to set goals, create plans to achieve them, and assess how well particular departments perform.

Analyze data

Managerial accounting examines the current data while keeping past data in mind to assess the effects of business decisions.

Forecast expenditures

Forecasting is accomplished using managerial accounting. Instead of finding a permanent solution, it focuses on providing information that will mitigate the effects of a problem.

Cheapest Online MBA in Accounting Management - fact

What’s the difference between Managerial Accounting VS Financial Accounting?

Many people, especially those new to accounting, may think that financial and managerial accounting are the same. While both deal with numbers and business, there are significant differences. Managerial accounting is only used internally, while financial accounting is primarily concerned with gathering accounting data to produce financial statements.

A management accounting system is targeted at internal decision-makers like managers instead of external decision-makers like investors, regulators, and creditors.

Reporting and Frequency

Financial statements communicated with internal and external shareholders are the main focus of financial accounting. On the other hand, managerial accounting prioritizes operational reporting and utilizes forecasting to look forward.

Accounting Standards

There are no precise accounting rules that the reports produced through managerial consulting must follow because they are only intended for internal use. Each organization is permitted to employ its procedure and set of guidelines when generating managerial reports. 

But in financial accounting, there are rules that everyone must adhere to. A firm’s balance sheet, income statement, and cash flow statement are among the most strictly regulated financial accounting reports.

What are the courses for an MBA in Accounting Management?

Concentrations in management accounting typically pair required business law, accounting theory, and accounting analytics courses with electives in company strategy or controllership. A specialized management accounting internship, project, or thesis is the typical master’s program’s capstone.

The following courses are frequently found in management accounting curricula:

Introduction to Management Accounting

Students will learn the fundamental concepts and procedures of accounting in this course. In addition to learning how to prepare managerial accounting statements and allocate overhead costs, students also study task order and process and activity-based costing.

Strategic Management

Strategic management courses develop competencies in competitive analysis, building competitive advantages, and long-term resource allocation by concentrating on key concepts and practical tools for developing and implementing business strategy. This interdisciplinary course frequently uses information from prerequisite courses in statistics, accounting, organizational behavior, and economics.

Accounting Information Systems

Students who take AIS courses become familiar with the information systems and tools used in financial reporting and transaction control. The strength of AIS analysis, design, and development to safeguard and improve business results is emphasized in this course.

Cost Accounting

Students learn how to increase profits through capital budgeting, target costing, price setting, and constraint analysis. Additionally, task costing, inventory value, and developing cost collection systems are taught in cost accounting courses.

Business Law

Students who take business law courses learn about the moral and legal concerns that influence the corporate sector. Contracts, torts, negotiable instruments, and sales law are all topics covered in this course.

What are the professional organizations for Accounting Management MBA students?

The career resources, networking opportunities, and continuing education opportunities offered by accounting professional organizations are frequently advantageous to MBA students. These professional organizations also produce funds for accounting research and promotion. Conferences, publications, certification programs, and employment boards are common advantages of the following professional organizations. 

American Accounting Association

This academic-focused professional association was initially established as the “American Association of University Instructors in Accounting” and is committed to enhancing accounting teaching and research. The AAA offers options for continuing education, publishes accounting research, and sponsors academic conferences.

American Institute of Certified Public Accountants

Since 1887, the AICPA has promoted the accounting profession and served the public interest by establishing standards. The AICPA has about 430,000 members in 130 countries and territories, representing various companies and sectors. Members get access to a variety of resources, such as possibilities for professional certification, ongoing education, and career counseling.

Chartered Institute of Management Accountants

CIMA is a pioneer in the management accounting organization. CIMA helps people and businesses advance their professional performance by offering management accounting training and certifications. CIMA also offers the chartered global management accountant (CGMA) credential associated with AICPA.

Institute of Management Accountants

This international professional association aims to continue developing the field of management accounting. The IMA offers conferences, continuing education, professional development events, and accounting advocacy to its members in 150 countries and 300 chapters. IMA also provides CMA certification. 

What are the Techniques emphasized in MBA in Managerial Accounting?

Marginal analysis

Margin analysis compares earnings to costs. This technique breaks a decision down into a series of “yes or no” choices. More specifically, it compares the additional costs incurred by the same activity to the increased benefits offered by the same activity. This calculates the unit volume at which the company’s gross sales and total expenses are equal. Managerial accountants base the price points for various products on this value.

Constraint analysis

An organization’s bottlenecks are the main focus of a constraint analysis. This technique allows a manager to concentrate solely on maximizing a bottleneck’s use to affect the company’s overall profitability. Managerial accounting keeps track of a product’s profitability and cash flow restrictions. 

Capital budgeting:

This information has been analyzed to make decisions about capital purchases. To assist managers with capital budgeting decisions like calculating payback time or determining the accounting rate of return, management accountants perform this analysis and compute the net present value and internal rate of return.

Inventory valuation and product costing

This topic involves figuring out how much products and services actually cost. The procedure often entails calculating overhead expenses and determining the direct costs related to the cost of goods sold.

Trend analysis and forecasting

This primarily addresses discrepancies in product prices. The generated information helps spot odd trends and devise effective strategies for locating and resolving the underlying problems.

Is earning an MBA in Accounting Management?

Yes, earning an MBA in accounting is a form of management. An MBA in accounting can be helpful in providing a solid business foundation in areas such as financial analysis, business strategy, and corporate finance. An MBA in accounting can also help you develop the necessary skills to become a leader in an accounting department or serve as a financial consultant.