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Best Universities In Australia For Masters In Accounting

Last Updated on July 25, 2021 by

If you are considering applying for masters in accounting in the best universities in Australia seeking admission to one of its graduate programs, the article below is for you! The information in this article provides the most up-to-date information on the best universities in Australia for masters in accounting.

Masters in accounting in Australia is a 1.5 to 2 years program offered as Masters of Accounting, Masters in Business Accounting, Masters of Management in Accounting and Masters of Professional Accounting in Australian universities. Bachelor’s degree in accounting, commerce, or related field is required to apply for masters in accounting in Australia. The program fees of Australian universities offering masters in accounting ranges between 63,000 AUD to 96,000 AUD. After pursuing masters in accounting in Australia, an accountant’s median salary in Australia is around 58,000 AUD/year. Accounting degrees are meant for the ones interested in numbers and can help in impacting business strategy and management with their number-crunching skills.

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Masters of Professional Accounting in Australia (MPA) is an Association of Chartered Certified Accountants accredited program best suited for students who want to make a career in Public Accounting, Corporate Accounting, and consulting. The total duration of pursuing the program from an Australian University may vary from 1.5 to 2 years with a cost of study raging between 28,000-50,000 AUD (~15 lakhs to 26 lakhs INR).

Jobs offered to students holding masters in professional accounting degree in Australia pay as much as128,000 AUD (~68 LPA INR). The majority roles the students will play in the professional field after the Master’s course are Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Certified Internal Auditor.

Pursuing MPA in Australia will offer you an upper hand in staying back as it is listed in the skilled occupations list by the home affairs of the Australian government. Hence, improving your chances of finding a job and getting to stay back after completion of studies.

Why Study Masters in Accounting in Australia?

  • According to the Job Outlook of Australia, the growth of the accounting sector has been the highest in the last two years. 
  • Job Outlook had estimated that the number of accountants will rise up to 207,200 by 2023 including 84,000 new job opening
  • New job openings of around 84000 are expected to grow in the upcoming 5 years in the field with around 16,800 new jobs each year. 
  • With 7 of the Australian universities offering MPA ranking globally in the top 100 universities abroad, Australia can be considered a perfect study destination for the program. 
  • Apart from scholarships awarded by the universities in Australia, the Australian Government has invested over 300 million AUD in scholarships for international students
  • Melbourne, Sydney, Brisbane, Canberra, Adelaide, Perth, and the Gold Coast: The home of top universities is listed amongst the world’s top 100 student cities by QS Best Student Cities 2019.
  • The economics and finance sector of Australia offers an average salary package of 88,600 AUD. 
  • A growth of constant 3-4% has been observed in the salary trends of the sector from 2016 till 2019. This suggests that there is a constant rise in the demand for professionals who are being hired at better and cushy median salaries 
  • Masters in Accounting from Australia make the students eligible for becoming the members of the professional accounting bodies such as CPA Australia and the Association of Chartered Certified Accountants (ACCA).
  • There are 6 universities in Australia offering masters in accounting that are included in the top 100 list of THE Global Rankings 2020.
The best universities in Australia to study accounting

Accountants play an active role in the business world and can work in any industry or sector. The field
covers many different workplaces, roles and specialisations and there is much call for skill in making deals, getting along with people and thinking in big strategic terms 

Our ratings look at specific strengths of Australian universities, giving insight to support and guide your decision-making when choosing a university. You can view the rankings in terms of how each university performs overall, or you can narrow down by field of study and state.  

This month, we looked at which Australian universities with undergraduate degrees in accounting performed best in the categories of full-time employment, teaching quality and student support. 

Full Time Employment  

This rating compares the employment rates of graduates of undergraduate degrees from different universities. It looks at the proportion of graduates who were employed full time four months after completing their course. Regional universities scored highly in this category: Charles Sturt University ranked first with a  score of 90.8%, and University of New England placed a very close second with a score of 90.1%. 

Teaching Quality 

This rating looks at the proportion of students who were satisfied with the quality of teaching they experienced. Bond University in Queensland takes the top spot with a rating score of 90.8%, while The University of Notre Dame Australia followed with 85.4%.  

Student Support 

This rating looks at the proportion of students who were satisfied with the support they received from their institution. Bond University ranked first with a 90.7% satisfaction rate, while University of New England placed second with 82.2%.  

Masters in Accounting in Australia: Top Universities

The table below mentions some of the top universities offering masters of accounting in Australia according to THE World University ranking for accounting. It is important for the applicant to choose from some of the best accounting colleges in Australia to ensure world-class education and high returns. The table given below will also familiarize you with the cost or expenses of pursuing the program (mainly tuition fee). 

UniversityProgram offeredProgram fees in AUD
University of MelbourneMasters of Management (Accounting)91,648
University of QueenslandMasters of Commerce (Accounting)88,544
Australian National UniversityMasters of Accounting95,760
University of New South Wales (UNSW)Masters of Commerce (Accounting)74,580
Queensland University of Technology (QUT)Masters of Business (Accounting)66,200
Griffith UniversityMasters of Accounting63,000
Monash UniversityMasters of Accounting91,600
Macquarie UniversityMasters of Accounting76,000
University of AdelaideMasters of Accounting84,000

Except for UNSW, the duration of pursuing masters in accounting is 2 years. At UNSW, it takes 1.7 years to complete the degree. 

Apart from the above-mentioned institutions, some other universities offering Masters of Professional Accounting in Australia are University of Sydney, University of Technology Sydney, University of South Australia, University of Newcastle and University of Western Australia

Masters of Accounting in Australia: Curriculum

Students opting for masters in accounting will study the subjects: Accounting concepts and methods, Principles of finance and marketing, Accounting systems and processes, Economic principles, Income taxation, and Auditing and assurance services, etc.

The degree is granted after the successful completion of project work or internship as instructed by the institute. The students will also learn about ethics and governance, politics, global economy, financial reporting, financial risk management, etc during the course work. The course is more theoretical but also includes the practice of report writing, analysis, calculations, etc.

Masters in Accounting in Australia: Admissions

International students are required to have a bachelors in accounting, commerce or related discipline and proof of English proficiency to apply for masters of accounting in Australia. 

Where to Apply: Students are required to apply via the official website of the university for masters in accounting admissions.

Intake Month: The admissions are usually offered in February, July or November in most universities of Australia. 

Masters in Accounting in Australia: Admission Requirements

Following documents are needed while applying for masters of accounting in Australia:

  • Transcripts and other academic records of previous education
  • Proof of English language proficiency by submitting IELTS, TOEFL or PTE test scores
  • Letter of reference.
  • Statement of purpose stating why the candidate is suitable for the course.
  • Updated CV

Masters in Accounting in Australia: Eligibility

Holding a bachelor’s degree in accounting, commerce, or equivalent is mandatory for admissions in masters of accounting in Australia. Moreover, international students must also submit proof of English proficiency as the curriculum of Australian universities is taught in English. 

The table below mentions the minimum eligibility criteria of some universities along with the English proficiency test scores required for admissions: 

UniversityMinimum % Required in BachelorsEnglish Proficiency Requirements
University of MelbourneNo minimum score specifiedIELTS: 6.5;
TOEFL (PBT): 577;
TOEFL (iBT): 79;
PTE: 58-64
University of Queensland55%IELTS: 6.5;
TOEFL (iBT): 87;
TOEFL (PBT): 570;
PTE: 64
Australian National University60%IELTS: 6.5;
TOEFL (iBT): 85;
TOEFL (PBT): 565;
PTE: 61
UNSW UniversityNo minimum score specifiedIELTS: 7.0;
TOEFL (iBT): 94
University of Technology Sydney50%IELTS: 6.5;
TOEFL (iBT): 79;
PTE: 58
Griffith University50%IELTS: 6.5;
TOEFL (iBT): 79;
TOEFL (PBT): 575;
PTE: 58
Monash UniversityNo minimum score specifiedIELTS: 6.5;
TOEFL (iBT):79;
PTE: 58
Macquarie UniversityNo minimum score specifiedIELTS (academic): 6.5
University of AdelaideNo minimum score specifiedIELTS: 6.5;
TOEFL (iBT):79;
PTE: 58

Though for many universities there is no minimum-specific requirement for pursuing masters in accounting, it is, however, suggested international students have a good grade in their bachelor’s. For the students who wish to apply for scholarships available in Australia, it is highly recommended for them to have outstanding academic excellence, which is judged on the basis of the score obtained in previous degrees. 

Cost of Studying Masters of Accounting in Australia

When planning to study abroad, international students must be familiar with the expenses they may incur. The cost of studying abroad includes pre-arrival costs, tuition fees, and other expenses such as accommodation cost, transportation, books, and food, etc. Sections below detail these costs. 

Pre-arrival Cost

These expenses are incurred even before coming to study in Australia. These are basically the fees of various exams required to study in Australia, visa fees, application fees to universities applied to, etc. 

Type of ExpenseCost (in AUD)
Application fees125-300
Australian Student Visa Application Fees575
IELTS application fees340
TOEFL application fees300
Airfare200-750.
(OSHC) Health insurance2,149

Tuition Fees for Masters in Accounting in Australia

Average annual tuition fees of universities offering masters of accounting in Australia range between 31,500 AUD to 47,880 AUD per year.

Cost of Living in Australia

Average cost of living for an international student in Australia is estimated to be around 1,400 AUD to 2,500 AUD per month. This includes accommodation, food, and social activities expenses. Following are the general estimate of such expenses: 

Type of ExpenseCost per month (in AUD)
AccommodationHomestay – 450- 1200
Students hall – 440-1100
Rent of apartment – 750-1700
Food500 – 1000
Transportation cost30 – 70
Internet70 – 120
Entertainment200
Books and Study Materials500 – 1000

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