Study Accounting Courses in the UK
What makes the UK stands out for accounting courses. Read up
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 as the backbone of the financial world, be ensured you are in for a glorious career ahead.
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 an 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
Duration of accounting courses
I. 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.
II. 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
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 is 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
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 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
Most employers in 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:
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 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.
Salaries of an accounting graduate: As per Glassdoor, the average salary of a graduate accountant is approximately £25,479 per year in the UK. Do note that starting salaries also depend on the location, sector, size, and type of firm you are applying at.
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 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.
Given the current COVID-19 situation, there might be some changes in the 2021 intakes. Don’t worry, our international education experts are here to guide you with the latest updates to help you apply to your desired course and institution. Feel free to connect with our experts for a free counselling session and keep posted about the latest COVID- 19 updates.
Updated on February 17, 2021