Study Accounting courses in the UK

If you have a thing for numbers and love to analyse data while looking at spreadsheets, then accountancy is perfect for you. This multi-disciplinary field enables you to draw relevant information from various sectors such as information technology, law, statistics, business, and economics while focusing on economic activities at an individual or organisational level. Given accountants are considered the backbone of the financial world, be assured you are in for a glorious career ahead. If you want to pursue Accounting courses abroad, then UK universities can be your preferred choice.

Studying accounting courses in the UK offers a comprehensive education in financial management, taxation, and auditing. Renowned for its globally recognised qualifications and professional accounting bodies, the UK provides opportunities for career advancement in finance and business sectors worldwide. In this blog, we will talk about studying accounting in the UK.

Why study accounting in the UK

The UK has some of the most highly-ranked universities in the world. Every accounting graduate from a UK institution is equipped with extensive experience, exposure and knowledge of accounting skills and financial literacy which every business across the world seeks. This isn’t it, some other advantages which the country offers include:

• Choice of full-time, part-time, and flexible study options along with placement integrated courses popularly known as sandwich courses

• The nation is known for being one of the largest financial hubs of the world, offering lucrative employment opportunities to accountancy graduate as they can work with globally renowned companies

• UK universities maintain professional connections through partnerships and tie-ups with companies in the region to offer students a chance to gain work experience for a few weeks to one year (depending on the course opted for)

• The universities focus on imparting advanced theoretical and practical knowledge with enhanced computational skills and techniques to practice professional accounting

• As an accountancy student, you’ll get hands-on knowledge of specialised accounting software (such as CIMA Sage) for a broader understanding of accounting, finance, and commercial sectors in the light of the international businesses

• Several UK degrees offer classes to prepare students for Chartered Accounting examinations

• You can also opt for

  MSC in accounting and finance in the UK

  for your further studies

Difference between CA and ACCA in the UK

In the UK, both the Chartered Accountant (CA) and Association of Chartered Certified Accountants (ACCA) qualifications are highly regarded in the accounting profession. Here are the key differences between CA and ACCA:

Top universities to study accounting courses in the UK

Several UK universities offer excellent accounting courses. Here are some top universities known for their accounting programs:

• The University of Manchester

• The University of Warwick

• The University of Edinburgh

• University of Glasgow

• Lancaster University

• City, University of London

• Durham University

Duration of accounting courses in the UK

Here’s the duration of accounting courses at different levels in the UK:

1. At an undergraduate level: Typically, it’s a three-year course where the modules in each university remain the same and cover topics such as bookkeeping, statistics and credit and financial analytics. To give you a brief, the first year is to lay a foundation where you’ll be introduced to fundamental financial and economic practices. While in subsequent years you’ll develop an understanding of corporate finance with your choice of modules. Towards the end, you’ll have to present a year-long project in form of a dissertation.

2. At master’s level: It’s a ten-twelve months graduate program offered on a full-time and part-time basis. Among all the top universities offering the course, only the University of Cambridge offers a part-time program of two years.

Note: The duration of these programs generally ranges between three to four years. It depends on whether the university offers work placement as part of the graduation program or not.

Cost of studying accounting courses in the UK

The average annual tuition fees for pursuing an undergraduate course in accounting from the UK is approximately GBP 18,525 - GBP 23,079, whereas for a postgraduate course, it lies between GBP 16,000-GBP 28,900 (depending on the nature and duration of the course, and the institution chosen). The costs associated with an accounting and finance degree in the UK are worth the experience, exposure, and accreditation that you’ll receive while studying.

Remember, your expenses will also be affected by the choice of college, course, and many other factors. It is best to discuss your financials with an expert before making your final decision.

Read more: Cost of studying in the UK

Eligibility criteria to study accounting courses in the UK

The eligibility criteria to study accounting courses in the UK may vary depending on the specific university and program you are interested in. However, here are some common eligibility requirements:

• You must have studied at least one of Accountancy, Business or Mathematics

• A-level requirements: AAB i.e., minimum 80% in CBSE, ICSE or state board and studying at least one of Accountancy, Business or Mathematics*

• English proficiency requirements: IELTS score score of 6.5 overall, with no lower than 6.0 in any component

* Minimum % may differ between 80 – 85% for some Universities

Note: To apply for a student visa, you must have a Confirmation of Acceptance of Studies (CAS) from your institution to pursue a full-time degree along with the financial evidence specifying that you can pay for the tuition fees and monthly living costs

Popular specialisations in accounting courses in the UK

Most employers in the accountancy and financial management sector will want to know your area of specialisation when applying for any graduate and internship programs. Some of the most popular specialisations include:

1. Assurance

2. Corporate Finance

3. Commercial Finance

4. Corporate Recovery

5. Corporate Treasury

6. Forensic Accounting

7. Financial Accounting

8. Internal Audit

9. Management Accounting

10. Risk Assessment

11. Tax

Note: Every firm (and their specialised divisions) have specific entrance criteria; however, while you select your specialisation do keep in mind what best suits your interest and personality

Career prospects after accounting course in the UK

Career options for accounting and finance graduates are vast and they can be employed in any sector as an Accountant, Charted Accountant, Banker, Insurance Broker, Financial Advisor, Financial Trader, Investment Analyst or Tax Advisor. Due to the broad nature of accounting and finance degrees, employment opportunities are available across companies and sectors at a competitive salary base.

According to the PayScale data 2023, the average salary of an accountant is £30,523 / year.

image

*According to the PayScale data 2023

Do you Know?

Most finance and accountancy undergraduates take professional qualifications along with their degrees such as certified chartered accountancy given by associations such as the Association of Chartered Certified Accountants (ACCA) and Chartered Institute of Management Accountants (CIMA).

To make the best out of your degree, we recommend you consult your case with one of our international education experts and make the right choice.

Frequently Asked Questions (FAQs)

Ques 1: Which accounting course is best in the UK?

Ans: The UK offers a wide range of accounting programs, each with its strengths and specialisation areas. To determine the best fit, it's advisable to consider factors such as program reputation, accreditation, faculty expertise, and alignment with your career objectives.

Ques 2: Which is better CA or ACCA in the UK?

Ans: The choice between CA (Chartered Accountant) and ACCA (Association of Chartered Certified Accountants) in the UK depends on your career aspirations. CA offers rigorous training and is highly respected in areas like auditing and taxation. ACCA, known for its flexibility, allows you to study while gaining practical experience, making it suitable for various sectors. Both qualifications are globally recognized, so your decision should align with your career goals and preferred learning style.

Ques 3: How can I study accounting in the UK?

Ans: To study accounting in the UK, first, research and choose a suitable program. Check the eligibility requirements, prepare the necessary application documents, and apply online. If you're an international student, ensure you meet visa requirements and plan for financial expenses. Once accepted, confirm your enrolment, make travel arrangements, and attend orientation. Start your accounting studies and utilize university career services for future job prospects in the field.