IMO, both the benefits of the Macc and the MBA have little to do with you actually learn in the classes. Yes, there is benefit, but I'd hardly argue the education is worth the $$ paid. But I digress..to me the main benefits of each degree are:
Macc:
1. Easy way to get 150 hours for your CPA (depending on state)
2. Many times the Macc is more flexible than just additional classes. For example, your school might have a 5 year program (take undergrad and grad classes at the same time).
3. In states where 150 is required, some schools have a built-preference for the five year program students.
4. Biggest advantage is to give you additional year or more of access to on-campus recruiting
5. You got a Master's relatively quickly and easily. Many other types of professions have more rigorous grad programs.
6. Some companies prefer you to have a Master's before promoting you to exec level. However, I think it's less important in accounting, but it might give a tiny bit of advantage, depending in the company and hiring manager.
7. Cool opportunities to study different accounting topics that can give you a nice base of understanding. Topics can range from special tax classes, m&a accounting, theoretical accounting, etc.
8. Easier to get in a good program after undergrad than an MBA. If anything, any MBA that takes you right after undergrad is probably not a very highly rated one.
MBA:
1. Ability to change careers or advance to a better job in your current career (e.g. Corp Finance to Equity Research or Nursing to Healthcare Consulting). Somewhat diluted over the years due to the mass amount of degrees out there.
2. Networking amongst students and professors
3. Access to recruiting; less so for entry level and more so for experienced professionals
4. The title here beats out the Macc. The MBA is still consistently desired at the higher levels of a company.
5. The rank of your school will speak for itself. GPA matters less because companies tend to see most of the school candidates in an equal talent footing. Experience and personality tend to help differentiate you in that respect.
6. Recruiters come from various types of industries.
So to answer your question OP,
Since you said,
“I just graduated with my bachelors in accounting and will need either one to get my 150.”
I say go for your Macc. It's quicker, easier to get into a good program from undergrad, and most of the recruiting will be accounting firms (which increases your chances).
Save the MBA for later if you want to change careers or transition into something else (e.g. Public accounting to management consulting).
Regardless, make sure the program you apply to gets recruited well. Otherwise, it's a waste IMO.
.