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

Basic requirements include:

  • GMAT (or GRE) score
  • TOEFL/IELTS/PTE
  • 2-3 years of relevant work experience
  • Background in accounting and commerce


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 fees and monthly cost of living for master’s in accounting in different countries are:

Masters in Accounting in USA: $45,000 ; $1,000

Masters in Accounting  in UK: £21,000 ; £1,500

Masters in Accounting  in Canada: CA$32,000 ; CA$1,500

Masters in Accounting  in Australia: AU$40,000 ; AU$2,000


Job Prospects after Masters in Accounting

Some examples of jobs that you could get after doing masters in accounting are:

  • Auditor
  • Financial Analyst
  • Forensic Accountant
  • Managerial Accountant
  • Chief Financial Officer
  • Corporate Controller

These are a few salaries to help you understand the different standards in different countries.

Country

Average Salary of an Auditor

USA

$55,068

Canada

C$54,584

UK

£28,787

Australia

AU$55,848


2019 Top Universities for Masters in Accounting

London School of Economics
University of Pennsylvania
The University of Chicago
University of Melbourne
University of California – Berkeley
Harvard University
University of Cambridge
Massachusetts Institute of Technology
Stanford University
University of Oxford
HEC Paris


More Universities to target for Accounting in 2019