If you are good with numbers and investigating financial crimes intrigues you, a bachelor’s in forensic accounting may be a degree to check out.
Forensic accounting is an investigative branch of accounting used to analyze financial transactions of businesses and individuals and look for red flags (AKA fraudulent activity).
Forensic accounting combines accounting principles and investigative techniques to:
- Analyze financial data
- Detect fraud
- Provide litigation support
Forensic accountants work with law enforcement and criminal prosecutors to uncover and convict financial criminals. Unlike traditional accounting roles, the workdays for forensic accountants are different, and many are straight-up exciting.
A bachelor’s in forensic accounting degree may be challenging. However, it won’t be boring! Forensic accounting graduates are ready to enter the field, armed with knowledge and skills used to fight criminal financial activity, all the while earning a hefty salary.
With the increasing complexity of financial crimes and the growing demand for forensic accounting professionals, earning a bachelor’s degree in this field may be just what you need!
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What Are the Best Forensic Accounting Bachelor’s Degrees?
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West Virginia University – Institute of Technology
WVU Tech is a campus within the West Virginia University system. While it’s a small campus, it holds a rich history and big opportunities. WVU Tech offers 30 academic programs, 17 varsity sports and serves over 1700 current students.
The College of Business, Humanities, and Social Science features one of the best forensic accounting programs in the country: a Bachelor of Science in accounting with a certificate in fraud examination.
This accounting degree “emphasizes the skills necessary to prevent, detect, investigate, and deter perpetration of fraud.” The bachelor’s programs include courses such as:
- Supply Chain Management
- Auditing Theory
- Income Tax Accounting
- Fraud Investigation
The fraud examination certificate entails six additional accounting courses (18) hours, and upon graduation, forensic accounting students will be prepared to take the CFE exam and become licensed as a certified fraud examiner.
Graduates can pursue careers, such as forensic accounting and fraud investigating in settings like the following:
- The public accounting sector
- Federal state, or local government
- Private, public, and non-profit businesses and companies
To apply to WV Tech, you need to have a minimum 3.0 GPA from high school or undergraduate transcripts. Check out admission requirements here.
Waynesburg University
A Christian, liberal arts academic institution, Waynesburg University was founded in 1849 and holds a long history of strong academics through hands-on educational experiences.
Waynesburg is known for its educational value and affordability, which is a huge plus for a private school. You can earn a bachelor’s degree in forensic accounting that prepares you for an exciting career in this field.
This forensic accounting program trains students to “identify and investigate fraudulent financial activities, develop evidence, and give expert evidence at the eventual trial”.
You will take a combination of core business education and accounting classes, along with a handful of criminal justice courses. As a forensic accounting student, you will have access to a specialized laboratory to learn and practice hands-on skills.
Waynesburg University also offers an integrated bachelor’s and master’s degree program that can be completed in five years.
Applicants are admitted holistically and evaluated based on past academics, SAT or ACT scores, and participation in extracurricular activities and community service. Financial aid is available. If you’re interested in checking out this program, you can schedule a virtual, group, or personal visit.
Pittsburg State University
Become a Pitt State Gorilla when you choose more than 200 academic programs from this notable university in Pittsburg, Kansas (not to be confused with Pittsburgh, Pennsylvania). Pitt State offers flat-rate tuition, meaning you can take extra classes and pay the same rate. Pitt State’s Kelce College of Business features a bachelor’s of business administration in accounting with a fraud examination minor.
You will take core business courses, such as:
- Management Information Systems
- Legal and Social Environment of Business
- Internal Auditing
- Basic Interviewing and Counseling Skills
- Fraud Investigation Techniques
This forensic accounting program provides a strong business and accounting background to prepare graduates for the CPA, CMA, CIA, and CFE exams. Graduates are qualified for careers in areas such as:
- Forensic accountants
- Forensic auditors
- Certified fraud examiners
- Revenue agents
Pitt State details “qualified admission” requirements on its website, but the school also states that if you do not meet these requirements, you should still apply, and your application will be reviewed individually.
Indiana State University
Indiana State University bleeds not red, but blue, and the power of the color blue is seen in their top awards for quality, value, and social mobility (CollegeNet, Forbes, and Princeton Review). It is also seen through their diverse campus community.
At Indiana State, you can choose from over 100 undergraduate majors, and one of those is a BS in accounting with a forensic accounting concentration.
Through this undergraduate forensic accounting degree, you will gain a comprehensive accounting and business background. You will learn how to investigate issues like:
- Financial fraud detection
- Embezzlement
- Money laundering
Sample courses include:
- Fraud Accounting
- Financial Accounting
- Criminal Investigation
The program combines academics, hands-on learning, and extracurricular activities to ensure students have a well-rounded knowledge base in accounting.
Beta Alpha Psi, the national professional fraternity for accounting, is an active part of this forensic accounting degree, as well. You will be able to attend conferences and networking opportunities locally, regionally, and nationally to enhance academics.
Graduates are eligible to take the CPA exam and find careers in public, corporate, government, and non-profit accounting fields.
Frequently Asked Questions
Yes, a forensic accounting degree can be worth it because of the wide range of career opportunities and the lucrative pay. You will have skills related to accounting, law, and investigative procedures, which makes you a valuable asset in many work environments. Additionally, the demand for forensic accountants is on the rise because of the growing need to combat fraud.
In-state tuition for a bachelor’s degree in forensic accounting at a public university is around $9,300 per year, according to the Education Data Initiative. Out-of-state students pay more – around $27,000, on average. Private universities typically have higher tuition rates. Other factors that affect the cost of a forensic accounting degree include the following:
• The specific program
• The state in which you study
• How much financial aid you receive
• Whether you study in person or online
Yes, you can earn a forensic accounting degree online. Many accredited colleges and universities offer online forensic accounting programs. An online forensic accounting degree covers the same curriculum as an in-person degree. However, choosing an accredited online program is important to ensure its credibility.
You need about four years of full-time studies to complete a bachelor’s in forensic accounting. Most programs are roughly 120 credits, so you’ll need to take 12-15 credits per semester to graduate in four years. However, many online programs offer accelerated courses, which can shorten the timeline to complete your degree by a semester or even a year.
A forensic accountant is a financial professional with specialized skills who performs investigations by collecting, analyzing, and evaluating financial fraud. Many forensic accountants perform these duties as Certified Public Accountants (CPAs). As a CPA, you might work as a tax consultant, auditor, or business advisor. Typically, you must be a CPA to become a forensic accountant.
Forensic accounting encompasses fraud examination, litigation support, and financial investigation.
Fraud examination involves the identification, investigation, and prevention of financial fraud. To do so, forensic accounting professionals use techniques to gather evidence, such as:
• Analyzing data
• Interviewing witnesses
• Reviewing documents
• Conducting forensic audits
Forensic accounting professionals provide litigation support by:
• Analyzing financial records
• Interpreting complex financial data
• Quantifying damages
• Preparing expert reports/testimony
• Presenting their findings to support legal arguments
Financial investigation involves using skills to follow the money trail and analyze financial statements. Financial investigations are used in cases involving money laundering, bankruptcy, and other financial crimes.
A bachelor’s in forensic accounting prepares you for many accounting career paths, such as:
• Certified Public Accountant
• Forensic Accountant
• Certified Internal Auditor
• Fraud Investigator
• Financial Examiner
These jobs are available in many different settings. You might work in law enforcement, the insurance industry, or an accounting firm. You might also work for a financial institution, a government agency, or as an independent consultant.
Forensic accountants use their accounting, auditing, and investigative skills to find evidence of financial crimes. CPAs are specialists in fields like auditing, financial reporting, and tax preparation. In many cases, forensic accountants are CPAs. Not all CPAs are forensic accountants, though.
You need around six years to become a forensic accountant. Four of those six years are spent getting an undergraduate degree. The remaining two years account for getting a graduate degree or completing other advanced training.
Forensic accountants make an average of $77,286 per year, according to Salary.com. Starting out, you can expect to earn around $69,000 per year. With increased education, training, and experience, you can earn closer to $87,000 per year. Certain industries pay more, too. For example, accountants in the finance and insurance industry tend to make higher-than-average salaries, according to the Bureau of Labor Statistics. Likewise, the geographic location where you work can influence your income. For example, forensic accountants in San Fransisco make $96,608 per year, while those in Dallas earn about $76,784 per year.