Accounting and Finance Courses in Australia

Introduction to accounting and finance degrees

Australia is renowned as a top destination for international students, ranking third globally in this regard. Studying accounting and finance in Australia offers exposure to diverse financial markets and regulatory frameworks, providing students with a competitive edge in the global economy. Australian universities offer a range of diploma, bachelor's, master's, and doctoral programs in accounting and finance, each with various specializations to choose from.

Accounting primarily deals with reporting and processing financial information for an individual business or organization. In contrast, finance, which falls under the broader umbrella of accounting, pertains to how individuals or organizations generate and utilize capital, encompassing activities like investing, borrowing, lending, budgeting, and more.

Finance courses in Australia are accredited by organizations like CPA (Certified Public Accountant). Upon completing these programs, students acquire knowledge and expertise in accounting practices, data analysis, time management, critical thinking, and more. This comprehensive skill set opens the door to various promising career paths, including roles such as chartered accountants, financial analysts, management accountants, and more.

Types of Degree in Accounting and Finance

Diploma in Accounting and Finance

This introductory qualification provides students with a fundamental comprehension of the accounting and finance realm and the skills to manage financial transactions. The curriculum encompasses key subjects such as accounting, financial modeling, and financial statement analysis. Graduates of this diploma program may qualify for entry into a bachelor's program or choose career paths as tax accountants or business consultants.

• Course duration - one year
• Course fees - $10,000
• Entry requirements - must have completed 12 years of education and score a minimum of 5.5 or 6.0 in IELTS/TOEFL. 

Bachelors in Accounting and Finance

A bachelor's degree in accounting and finance in Australia (BAF) is an undergraduate degree that delves into various subjects, including financial institutions, market systems, banking, and management. The curriculum is designed to equip students with practical knowledge and skills in areas such as auditing, investment analysis, and financial management. However, a strong foundation in commerce subjects like accounting, mathematics, and business studies is essential to excel as a financial expert.

BAF courses offer an extensive syllabus covering managerial economics, taxation, risk management, cost accounting, business law, and more. Upon completing the program, individuals can pursue advanced studies, such as an MBA in finance or an M.Com in finance, or enter the job market with career opportunities that may include roles like marketing manager, billing data analyst, or company secretary.

• Course duration - three years
• Course fees  -$1,14,950
• Entry requirements - must have completed 12 years of education with a score of 6.0 or above in IELTS. 

Master’s in Accounting and Finance

The master’s in accounting and finance is a postgraduate degree that offers advanced knowledge of modern financial theories, accounting practices, and controls and gives you an understanding of the organizational context. The course curriculum targets the demand for skilled professionals in accounting and finance in Australia. 

After completing this course, students develop their communication skills, teamwork, critical analysis, and numerical skills and learn to persuade others by supporting their decisions with numbers. Some significant career prospects include economist, business development manager, and mortgage advisor. 

• Course duration - two years
• Course fees -$91,073
• Entry requirements - graduation in a relevant discipline, work experience, and minimum score in IELTS/GMAT. 

Doctorate in Accounting and Finance

PhD in accounting and finance is a research-based program that trains students in advanced topics, such as financial theory, financial markets, corporate finance, accounting, auditing, etc. In the curriculum, students will conduct independent research and produce original scholarly work that contributes to the body of knowledge in finance and accounting. 

Graduates in accounting courses in Australia can pursue careers in academic sectors as professors and researchers. They can also work in research positions in government sectors and consulting firms. 

• Course duration - three years
• Course fees - $85,309
• Entry requirements - master’s degree in a relevant discipline and a minimum score of 6.5 in IELTS. 

Scholarships

Australia offers a wide range of scholarships, grants, and bursaries that can help and support financially when studying in Australia. The Australian government, and others by universities and private organizations, offer some scholarships, which are as follows - 

Jobs and Careers

The Bureau of Labor Statistics (BLS) projects that roles for financial advisor - a popular job for graduates with a bachelor of finance will grow by 4% from 2019-2029. In addition, graduates in accounting and finance in Australia can enjoy lucrative career opportunities, earning an average median annual salary of $87,850. Here are some top jobs in the field of finance -

• Chartered accountants,
• Stockbrokers
• Actuary
• Tax advisers,
• Investment banker

Salary

The average accounting and finance salary in Australia is $99,500 annually. Entry-level positions start with an average wage of $82,611 annually, while the most experienced workers make up to $161,850 annually. Here is a pay scale range for each job designation -

Top Universities for Accounting and Finance in Australia

To learn more about the accounting and finance universities in Australia, find details on the top ranking Accounting and Finance programs in the QS World University Rankings by Subject 2024 below:

Accounting and Finance Courses FAQ

What is the difference between accounting and finance?

Accounting refers to the day-to-day cash flow in and out of a business or institution. On the other hand, finance is a broader term that refers to managing assets and liabilities and planning future growth. 

Why is Australia the preferred destination for accounting and finance courses?

Australia is known for its strong economy and global business connections, which can open doors of opportunities after completing their degree from an Australian university. In addition, The average accounting and finance salary in Australia is $99,500 annually. 

Why should you study accountancy in Australia?

Australia offers high employability possibilities. The graduates can expect excellent job prospects, as the country serves the most popular study options with strong industry growth and higher potential earnings. 

What are accounting and finance employment opportunities? 

The average payscale for accounting in Australia is $99,500 annually. Entry-level positions start with an average wage of $82,611 annually, while the most experienced workers make up to $161,850 annually. Some popular career options include business development manager, chartered accountant, data analyst, economist, etc.