Masters in Accounting Abroad: Top Universities, Fees, Requirements, Eligibility & Scholarships

A postgraduate program that offers increased knowledge and abilities in accounting, financial reporting, taxation, auditing, and other related fields is a master's degree in accounting. Depending on the university and the student's academic background, the curriculum normally lasts 1-2 years. Numerous intakes are offered by most colleges throughout the year, and some even provide both on-campus and online choices. Depending on the institution, location, and length of the program, the typical cost of a master's in accounting degree can range from $15,000 to $60,000. Students who desire to work in accounting or related disciplines, such as financial analysis, auditing, tax preparation, and others, should enroll in this program. Students who complete the program gain the knowledge and abilities needed to succeed in the intensely competitive field.

Why study Master's in Accounting? 

Pursuing a master's degree in accounting is a smart investment for anyone who wants to excel in the accounting field. Here are some reasons why studying for a master's in accounting is essential: 

• Increased Job Opportunities: Employers often seek candidates with advanced degrees in accounting for senior roles. A master's in accounting provides graduates with a competitive edge when applying for job opportunities. 
• Specialization: The program allows students to specialize in areas such as taxation, auditing, financial reporting, and other related fields. The specialization provides students with in-depth knowledge and skills that are relevant to their respective careers. 
• Career Advancement: A master's degree in accounting is a pathway to career advancement. The program provides students with advanced knowledge and skills that help them stand out in the job market and climb the career ladder. 
• Increased Earning Potential: According to the U.S. Bureau of Labor Statistics, accountants with a master's degree earn a higher salary than those with only a bachelor's degree. 
• Professional Networks: A master's in accounting provides students with an opportunity to build professional networks with their classmates, professors, and other professionals in the field. These networks can help students secure job opportunities and stay current with industry trends. 

Master's in Accounting Highlight 

A postgraduate degree in accounting gives students increased knowledge and abilities in accounting, financial reporting, taxation, auditing, and related subjects. Depending on the university and the student's academic background, the curriculum lasts anywhere between one and two years. Depending on the institution, location, and length of the program, the typical cost of a master's in accounting degree can range from $15,000 to $60,000. The course can be taken full-time, part-time, or online, among other delivery methods.

Here is a table summarizing the key details of the master's in accounting program: 

Types of Master's in Accounting 

A master's degree in accounting offers students a range of specializations, allowing them to concentrate on specific areas of accounting and related fields. The available specializations may differ depending on the institution and program offered. Here are some examples of the specializations that students can expect to find in a master's degree in accounting program:

• Taxation: One specialization is Taxation, which centers around tax preparation, planning, and compliance. Students learn about tax laws, regulations, and policies and how they apply to both individuals and businesses.
• Financial Reporting: Financial Reporting focuses on financial statements and reporting. This includes analyzing financial data as well as preparing financial reports. Students gain knowledge about accounting principles and standards along with auditing techniques.  
• Auditing: This specialization focuses on auditing and assurance services, including risk assessment, internal controls, and audit procedures. Students learn about auditing standards, procedures, and ethics. 
• Forensic Accounting: Forensic Accounting combines accounting expertise with investigative skills to detect fraud or prevent financial crimes from happening. Students learn about forensic accounting techniques like litigation support along with fraud detection & prevention methods.
• Management Accounting: Management Accounting focuses on financial management within organizations by teaching students cost analysis techniques for budgeting, forecasting, and decision-making processes, among others.

Best Universities for Master's in Accounting abroad

Here is a list of some of the best universities for a master's in accounting abroad, along with a brief overview of each institution:

Curriculum of  Master's in accounting 

When it comes to pursuing a master's in accounting, students can expect an all-encompassing curriculum that delves into advanced topics in finance, accounting, and beyond. The program is geared towards providing students with a deep understanding of relevant concepts and skills that can be applied to their future careers. A master's in accounting curriculum typically covers a wide range of topics, including financial accounting and reporting, managerial decision-making, taxation, auditing and assurance services, financial statement analysis, corporate finance, as well as ethics and professional responsibility in Accounting. 

Moreover, many programs offer elective courses allowing students to specialize in niche areas such as forensic accounting or international taxation. Through case studies, simulations, and real-world projects, students gain practical experience that prepares them for leadership roles within the industry. Overall, the curriculum is designed to provide graduates with the necessary tools to succeed in their field while also offering them opportunities for growth and specialization.

Eligibility Criteria for Master's in Accounting abroad 

Here are the eligibility criteria required to pursue a Master's in Accounting abroad: 

• A Bachelor's degree in Accounting or a related field 
• Minimum GPA requirement (usually 3.0 or higher) 
• English language proficiency (TOEFL or IELTS scores) 
• Letters of recommendation 
• Statement of purpose 
• Work experience (depending on the program) 
• GMAT or GRE scores (depending on the program) 

Admission Requirements for Master's in Accounting  

If you're considering pursuing a master's degree in accounting, it's essential to understand the admission requirements. The requirements vary depending on the institution and country where you plan to study. However, there are some common admission requirements that most programs share.

• To be eligible for a master's in accounting program, you'll typically need a minimum of a bachelor's degree in accounting or a related field. Some programs may require an undergraduate major in Accounting or Finance specifically.
• Many programs have a minimum GPA requirement of 3.0 or higher, but this can vary depending on the institution. International students may need to provide proof of their English language proficiency by taking an English language proficiency test like TOEFL or IELTS. Other universities may accept other tests, such as PTE or Cambridge English Proficiency.
• Some master's in accounting programs require standardized test scores like GMAT or GRE, so it's important to check with the university you're applying to for their specific requirements.
• Work experience is another factor that some programs may consider when evaluating applicants, particularly if it is related to accounting or finance.
• Applicants are typically required to submit letters of recommendation from professors or employers and also submit a statement of purpose outlining academic and career goals as well as reasons for pursuing a master's degree in accounting.
• For international students planning on studying abroad, obtaining a student visa is necessary. Visa requirements differ based on the country where you plan to study; therefore, it's crucial that research is done beforehand and enough time is allowed for documentation preparation.
• Depending on the institution, additional documents such as resumes, transcripts, and portfolios may also be required during application submission.

It's important that applicants carefully review all admission requirements for each program they're interested in before applying and ensure that they meet all deadlines without fail.

Admission Process for Master's in Accounting 

A master's in accounting program's admissions procedure typically consists of the following steps: 

1. Research on the colleges and programs that interest you and support your academic and professional objectives. 
2. Verify your eligibility by reviewing the entrance requirements for each program. 
3. Take the GMAT, GRE, TOEFL, or IELTS, if needed, and make arrangements to have your scores forwarded to the university you are applying to. 
4. Complete the application procedure, which often entails providing transcripts, letters of recommendation, a statement of intent, and other necessary documentation. 
5. Payment of the application cost is required, which varies based on the university and program. 
6. Wait for the university to respond. Before making a decision, certain colleges could request an interview or more information. 
7. An offer letter will be given to you if you are selected. If you decide to go, carefully read the letter and accept the invitation. 
8. Application for a student visa should be made as soon as you receive your offer letter if you are an international student. 
9. It's critical to stay on top of application deadlines and make plans to give yourself ample time to complete the process and fulfill all requirements. 

Cost of Studying for Master's in Accounting 

Studying for a Master's in Accounting program can be quite pricey, and the cost varies depending on the institution and country of study. To give you an idea of the expenses involved, here's a general overview:

• Firstly, tuition fees can range from $10,000 to $50,000 per year, depending on where you choose to study. It's important to research each program individually and factor in the cost of living in that area.
• Before you even arrive at your destination, there are other costs to consider, such as application fees, visa application fees, and English language proficiency test fees. For instance, the IELTS exam fee can range from $185 to $240, depending on the country.
• Accommodation costs also vary based on location and the type of accommodation chosen. Shared accommodations usually run between $400 - $1,000 per month, while private accommodations tend to be upwards of $1,500 per month.
• Living expenses like food, transportation, and entertainment also need to be budgeted for, with an estimated monthly expense of at least $1,000, depending on your location.
• Other possible costs include health insurance premiums as well as textbooks and equipment necessary for your studies.

To avoid any financial surprises during your studies, you must research all potential costs associated with studying for a Master's in Accounting program beforehand. Additionally, make sure to keep an eye out for scholarships or bursaries that could help offset some of these expenses.

Job Scope for Master's in Accounting 

After completing a master's in accounting program, there are many job opportunities available to graduates. Here are some of the most common job roles: 

• Accountant: Accountants are responsible for preparing and analyzing financial records and ensuring compliance with tax laws and regulations. 
• Auditor: Auditors review financial statements and internal controls to ensure accuracy and compliance with accounting standards. 
• Financial Analyst: Financial analysts provide investment advice and analyze financial data to help companies make informed business decisions. 
• Tax Consultant: Tax consultants help clients navigate complex tax laws and regulations and minimize their tax liabilities. 
• Corporate Controller: Corporate controllers oversee a company's accounting and financial reporting processes and ensure compliance with regulatory requirements. 
• Financial Manager: Financial managers are responsible for managing a company's financial operations, including budgeting, forecasting, and financial analysis. 

A table highlighting the average salaries for these job roles is as follows: 

Note that these salaries are only estimates and may vary depending on the specific job role, location, and experience level.