Top Accounting Scholarships with 2024 Deadlines

untDue to the high cost of higher education institutions, students pursuing an accounting degree are searching for the best accounting scholarships to reduce their educational expenses. 

While trying to reduce student debt, many accounting students search for scholarship opportunities online. Numerous scholarship awards provide financial assistance through online platforms, but sifting through scholarship sites to find legitimate scholarships is time-consuming for already busy accounting students. This article provides valuable resources for accounting students by informing them about accounting and listing online scholarship opportunities.

Create a Bold.org profile and use the scholarship search feature to access hundreds of exclusive scholarships to provide you a strong start to your educational foundation.

Four Types of Accounting

Accounting is generally defined as how finances are tracked by an individual or an organization. It is the process of tracking all financial transactions done by a business. Accountants do a number of different types of tracking for different purposes. To obtain an undergraduate degree in accounting, students will take classes related to business, economics, and finance in addition to accounting classes.

There are four main branches of accounting, and accounting students can choose a career path within the financial industry, like business administration.

1. Corporate Accounting

Corporate accounting is the branch of accounting that deals with handling and filing a company or business's financial information for external reporting and filing taxes. Corporate accountants need to be familiar with methods used to keep accurate records and be able to file taxes properly without violating rules and regulations.

2. Public Accounting

Public accounting is the branch of accounting that works with external clients such as companies, corporations, or individuals in order to keep their financial statements and tax filings accurate. Public accountants must have an excellent knowledge of tax regulations and financial reporting and must have good people skills to interact with individual clients.

3. Government Accounting

Government accounting is the branch of accounting that works with government bodies, including local, state, and federal. Government accountants can be held to higher standards and may be responsible for handling privileged or confidential information.

4. Forensic Accounting

Forensic accounting is the branch of accounting responsible for collecting, recovering, and reconstructing financial data. In addition to the standard skills an accountant must possess, forensic accountants must also be resourceful and have great problem-solving skills. They additionally often have previous coursework or experience related to law.

Jobs for Accounting Majors

Jobs for Corporate Accountants

Corporate accounting jobs usually involve external reporting, which generally means working on financial statements and tax filings for a corporation. Other jobs that fall under corporate accounting include financial controllers, analysts, and Chief Financial Officers (CFOs).

Jobs for Public Accountants

Public accounting jobs are usually found at public accounting firms that work with external clients. Smaller firms tend to serve individuals and smaller businesses, while large firms can serve multi-billion-dollar companies. 

Jobs for Government Accountants

Government accounting jobs can entail various things, ranging from auditing filed taxes to maintaining records to managing government resources. Government jobs tend to pay lower than jobs in the private sector but can compensate for this with bonuses that aren't offered at civilian jobs.

Jobs for Forensic Accountants

Forensic accounting jobs can also vary widely; some positions are at law firms, some at legislative bodies, and some at government agencies like the FBI or the IRS. Some forensic accountants are even self-employed and work with entities through contracts. 

Top Schools for Accounting

Accounting is one of the most popular majors in the United States and is offered at many schools. However, some accounting programs stand out from others as having top accounting programs.

1. University of Texas at Austin
2. University of Illinois Urbana-Champaign
3. Brigham Young University - Provo
4. Indiana University - Bloomington
5. University of Michigan - Ann Arbor

What Is the AICPA?

AICPA stands for the Association of International Certified Public Accountants. AICPA is the most influential body of professional accountants, and they describe themselves as empowering opportunity, trust, and prosperity for people, businesses, and economies worldwide. They hope to improve the reputation and quality of CPAs and the accounting profession.

Does the AICPA Offer Accounting Scholarships?

The AICPA provides financial assistance to accounting students through hundreds of scholarships each year, awarding more than $1 million in scholarship programs, grants, and fellowships each year.

What Are AICPA Student Affiliate Members?

Undergraduate students majoring in accounting can become AICPA student affiliate members, gaining access to professional resources, scholarship programs, professional mentors, opportunities for networking, and other benefits.

What Is the CPA Exam?

The CPA exam, or Certified Public Accountant exam, is a professional examination for individuals seeking to become licensed as certified public accountants. It is a standardized test administered by various state boards of accountancy in the United States.

What Is the National Society of Accountants?

The National Society of Accountants is an organization that accountants can join. Its mission is to support the needs of tax and accounting small business owners and their teams. Being a member comes with the benefits of networking, management, and career development resources.

What Is the Government Finance Officers Association?

The Government Finance Officers Association (GFOA), founded in 1906, is a national association that serves finance professionals in the U.S. and Canada. It promotes the professional management of government finances, offering resources, training, and support to finance officers in various governmental entities.

Tips for Finding and Applying for Accounting Scholarships

Due to the high number of students searching for and applying for scholarship programs, winning a scholarship can be an extremely competitive process. Some accounting students may even feel frustrated that they apply for many scholarships but never or rarely win them. There are some strategies that students should be aware of in order to win scholarships.

The narrower the scholarship requirements, the more likely you are to win. Additionally, the more scholarships you apply to, the better your chances of winning. There is no limit to how many scholarships you can win on Bold.org, but you must be an actively enrolled college student.

Put real effort into your essays, and make sure they answer the prompt you are given. Think about what you will write, and proofread when you’re done. Make yourself stand out by following Bold.org’s tips for essay writing: grab the reader from the first sentence, stay focused on the essay prompt, write your essay in multiple, separate paragraphs, and use correct grammar.