Masters in Accounting

What is Accounting

Accounting is the measurement, processing, communication and analysis of financial information of enterprises like businesses and corporations. It has been colloquially referred to as “Language of Business” as it measures the results of an organization’s economic activities and conveys these compilations to a variety of users.

A Master of Professional Accounting can also be obtained from Australian universities to qualify for the Australian CPA, IPA or CA. This speciality program usually runs 1-2 years in length and contains from 10-12 three semester credit courses (30 to 36 semester hours total). The program may consist of all graduate accounting courses or a combination of graduate accounting courses, graduate management, tax, leadership and other graduate business electives. The program is designed to not only prepare students for the CPA examination but also to provide a strong knowledge of accounting principles and business applications.

Requirements to Study Accounting

Business schools require you to give the GMAT which forms the most important part of your application. Few universities also accept GRE scores in place of GMAT scores. They also require a minimum 2-3 years of work experience (depending on the program you intend to join). IELTS or TOEFL is compulsory for acquiring student visa and as a proof of English proficiency.

Core Subjects in Accounting

Students get to know the basic principles of accounting and their applications. Various subjects under accounting include:

  • Financial Accounting
  • Management Accounting
  • Auditing
  • Accounting Information Systems
  • Tax Accounting
  • Macro and Microeconomics
  • Business IT skills

Specialisations in Accounting

Various specializations include:

  • Tax Accounting
  • Financial Accounting
  • Auditing and Forensic Accounting Services
  • Management or Managerial Accounting

Cost of Studying Accounting

Although the fees vary from university to university, the average tuition cost for masters in accounting in the US are $37,000/year. Average living costs vary upto $8900/year. Tuition fees are around C$32000 in Canada. In Australia, average tuition costs are A$40000 / year and the average living costs are A$8,500/year.

Job Prospects after Masters in Accounting

Top Universities for Accounting

Universities that Average Profiles can target