That Traditional Or Online Master Degree Advances Your Forensic Accounting Career

As any historian of criminal justice will tell you, Elliot Ness and his Untouchables didn't bring down Al Capone. What finally put the boss of all bosses away were the actions of a man named Frank J. Wilson. Wilson audited Capone's financial records and nailed the gangster on tax evasion. Thus forensic accounting was born.

Move on nearly 80 years later and Forensic Accounting is one of the most in-demand occupations in the U.S. This interdisciplinary occupation has become particularly relevant after the recent real estate collapse caused by shady mortgages and the subsequent fall of companies like AIG, Lehman Brothers and what feels like half of Wall Street. The public wants to know what caused this collapse in detail, and pouring over the financial records is a good way to uncover any malfeasance.

At the same time, this is an occupation that not only includes its share of accounting and particularly auditing knowledge, but also its measure of criminal justice expertise. This means a student who wishes to go down this career path will need a masters degree, minimum, plus certification. In all, this is a five to six year education process on the average. Further, that kind of education can put a student deep in debt if he or she doesn't plan carefully.

The trick is to realize that this occupation truly is a cross-disciplinary occupation. Therefore, a student needing financial aid can tap into the aid available for both accounting/auditing and law enforcement.

Not that there aren't scholarships specifically created for those in the field. For example, there is the Richie-Jennings Memorial Scholarship, created by the Association of Certified Fraud Examiners. It can contribute up to $1,000 a year. The FBI also has its Common Knowledge Scholarship, which will contribute as much as an additional $1,000 a year.

At same time, a student shouldn't limit him or herself to strictly forensic accounting grants and scholarships. They should also examine such organizations as the American Institute of Certified Public Accountants, even the Internal Revenue Service. On the criminal justice side, there are an equal number of organizations out there to help fund your education. In other words, all these groups need accountants, and many are willing to help foot the bill for their continued education. Don't forget such standard packages as the Pell Grant, SEOG, Lifetime Learning for post-grads or similar programs as they can also take thousands off of the tuition bill.

While it's critical for any accounting student to sit down and do their own share of research, it does not hurt to do it with their on-campus or online college's financial aid advisor. These people are specifically there to help make getting the cash easier for the student. This includes everything from suggesting even more sources to doing the paperwork.