Studying accounting abroad has become highly popular in recent years due to the strong job market for this field. Nearly every country needs accountants, as accounting is a fundamental element of financial and economic management. It is important to have sufficient knowledge about the conditions for studying accounting abroad and working with accounting software, as these are key advantages for migration.
Even in developed countries such as the U.S., the U.K., and France, which have more advanced accounting systems, accountants continue to play a vital role in ensuring the accuracy and transparency of financial information and financial management. The importance of accounting can be highlighted by the fact that today, all businesses, organizations, or entities involved in taxation and financial transactions need accountants.
Introduction to Accounting:
Accounting is the process by which financial information about a business, organization, or individual is recorded, classified, summarized, interpreted, and communicated. This field is multidisciplinary and has close connections with fields such as information technology, law, statistics, business, and economics. In other words, accounting focuses on the financial activities of an organization or individual and is concerned with the area of business that involves recording and evaluating financial transactions for a business, company, or specific individual.
One of the primary responsibilities of this field is reporting a company’s financial transactions to regulatory bodies, tax authorities, and financial auditors. The financial statements used in accounting provide a summary of financial transactions over some time and give an overview of the company’s performance, financial position, and cash flow. Additionally, accounting is crucial for decision-making, cost estimation, and evaluating the economic performance of any business, organization, or company. Accounting systems help organizations achieve their goals by providing a reliable framework capable of continuously generating accurate financial information.
Accounting Abroad: Types of Accounting Degrees
Accounting is one of the most practical and important academic fields, widely applied in all sectors. It is the language of business and is rooted in making informed trade decisions. In summary, accounting evaluates a company’s success in achieving its goals and helps investors understand how efficiently they have used their economic resources. For this reason, various companies and organizations need accountants to succeed in their business and profession. Accounting has several branches, including:
- Public Accounting
- Financial Accounting
- Governmental Accounting
- Forensic Accounting (Legal Accounting)
- Internal Accounting
- Managerial Accounting
- Tax Accounting, and many others.
Note that each of these branches of accounting serves a specific purpose.
Studying Accounting Abroad
Studying accounting abroad and obtaining student visas for this field requires an initial understanding of accounting and the conditions for studying abroad. Like many other humanities disciplines, accounting is somewhat localized, with each country or region offering specific educational and work conditions based on its laws. This can be a challenge for individuals who wish to work and study accounting abroad.
Those aiming to study accounting in another country and enter its job market must go through several steps to qualify for employment in foreign countries. While accounting is one of the best academic fields globally, students wishing to continue their education in this field abroad must ensure that their accounting knowledge aligns with the legal and academic standards of the country they intend to study. After this, they can proceed with their studies in accounting.
Conditions for Studying Accounting Abroad
Studying accounting abroad has become one of the most popular academic fields worldwide. Every year, many students choose accounting as their major in university. A large number of students wish to study at some of the best universities globally to take advantage of exceptional academic and career opportunities.
It is important to note that a bachelor’s degree in accounting abroad typically lasts four years. During this period, students will become familiar with the fundamentals and principles of the profession. In the undergraduate program, students learn how to prepare and maintain financial records for companies and organizations. Topics like taxation, auditing, and financial reporting are part of the curriculum in most accounting bachelor’s programs. Most universities around the world offer this program in English. During the bachelor’s degree, students are required to study courses such as mathematics, statistics, law, and economics.
While many universities offer a separate bachelor’s degree in accounting, some universities combine accounting with other disciplines, such as finance, economics, or management, as part of a joint degree. Students who complete a bachelor’s degree in accounting can sit for the CPA exam and obtain the CPA certification. Additionally, accountants with a CPA certification can apply for entry-level accounting positions and work as accountants in both public and private sector organizations.
Specializations in Accounting Abroad
Accounting, like many other fields, offers a wide range of specializations. All these specializations are interconnected in various ways. Each specialization focuses on a specific aspect of accounting. Below are some of the specializations in accounting:
- Financial Accounting
- Managerial Accounting
- Cost Accounting
Additionally, other fields related to accounting include:
- Finance
- Financial Management
- Economics
Advantages of Studying Accounting Abroad
As you may know, accounting is a highly versatile field with a variety of branches and specializations. Students who have the opportunity to study accounting abroad can choose a specialization based on their interests. An accountant can work in government offices, private companies, or even as a freelancer.
Studying accounting abroad can open doors to a bright future for students. All organizations, businesses, and companies require skilled and reliable accountants, which makes the demand for accounting professionals very high globally. One of the major advantages of studying this field is that there are abundant job opportunities for graduates. Additionally, accountants enjoy high salaries, with their earnings typically surpassing many other professions. Other benefits of studying accounting abroad include:
- Those with accounting degrees can work in most countries around the world, as the demand for accountants is very high everywhere.
- Accountants have a high level of job security.
- Having an accounting degree does not necessarily mean one must work as an accountant. Students can explore diverse career paths.
Language of Study for Accounting Abroad
Most international students who wish to study accounting abroad often prefer universities in English-speaking countries such as the United States and the United Kingdom because they are proficient in English. Generally, international students do not speak a second language fluently, which can limit their options to study in non-English-speaking countries, missing out on opportunities in some of the best European and Asian universities.
It’s important to note that in most universities worldwide, the language of instruction for bachelor’s degree programs is typically the official language of the country. However, for master’s and doctoral degrees, the primary language of instruction is often English. Therefore, students pursuing master’s and doctoral degrees can study in English in most countries.
For example, in Germany, the language of instruction for bachelor’s programs is German, but for master’s and doctoral programs, it is English. Additionally, some countries, such as Turkey, offer the option to study in English at certain universities for international students, although the tuition fees for English-language programs tend to be higher than those for programs taught in the local language.
Related Exams for Accounting Studies Abroad
As you know, some foreign universities require entrance exams for admission to various academic programs. Some universities have their specific entrance exams, and applicants must take these exams to gain acceptance. In certain countries, such as the United States, there are common entrance exams shared among universities. Most U.S. universities use the SAT or ACT exams for admitting students pursuing an undergraduate degree in accounting.
Applicants who wish to apply for undergraduate programs at U.S. universities must take one of these exams and achieve an acceptable score. Additionally, most reputable universities worldwide use the GRE as a criterion for admission to master’s and doctoral programs. Therefore, applicants aiming to pursue a master’s or doctoral degree in accounting at a prestigious university abroad need to take the GRE.
Top Countries for Studying Accounting
Accounting is one of the best fields for immigration, with many prestigious universities around the world offering accounting programs. Those holding accounting degrees can enter professions such as corporate accounting, financial management consulting, and investment banking.
However, applicants interested in studying accounting abroad should consider that while studying in these countries, they also have the opportunity to enter the job market in the public sector. Career opportunities for these individuals may include positions as financial auditors in government institutions. Those who pursue accounting studies abroad often have a strong interest in accounting or CPA-related careers.
In general, accounting is a popular field among immigrants due to the high demand for it in various countries. Some of the best countries for studying accounting abroad include:
- The United States
- Canada
- The United Kingdom
- China
- Turkey
- Russia
1. Studying Accounting in Turkey
If you’re looking to study and work in the field of accounting abroad, including in Turkey, you will need a 12-year high school diploma to enter the undergraduate accounting program in the country. The duration of the undergraduate accounting program in Turkey typically ranges from 3 to 4 years, and some universities may require an IELTS score of 6 or lower for admission.
The master’s degree in accounting in Turkey lasts from 1.5 to 2 years, and to be admitted to a university, a minimum IELTS score of 6.5 or a TOMER B2 certificate is required. For the doctoral program, having a supervisor is essential. The duration of the PhD in accounting at Turkish universities is between 3.5 to 4 years. Some of the top universities in Turkey for studying accounting include:
- Istinye University
- Işık University
- Gazi University
- Izmir University of Economics
- Istanbul University
- Bilgi University Istanbul
- Istanbul University of Economics and Business
- Halic University
- Bayburt University
- Kocaeli University
- Bilecik Şeyh Edebali University
- Karadeniz Technical University
2. Studying Accounting in Russia
With the increasing demand for accountants in Russia, many advanced universities in the country offer accounting programs. Fortunately, many of these universities are recognized by the Iranian Ministry of Science, so students can return to Iran and work after completing their studies. Additionally, the absence of difficult entrance exams in Russia makes acceptance into the desired program easier.
Students who meet the conditions for studying abroad can enter Russia through Russian language courses and then proceed with the application process. Some of the best universities for studying accounting in Russia include:
- Lomonosov Moscow State University
- Financial Academy under the Government of the Russian Federation
- National Research University Higher School of Economics
- Kazan Federal University
- Saint Petersburg State University
3. Studying Accounting in China
As you may know, universities in China are among the top institutions in Asia and the world. Some of these universities are recognized globally for their high-quality education and international reputation, and many of them offer accounting programs.
Students wishing to study in China must be proficient in Chinese, as the language of instruction in Chinese universities for undergraduate programs is primarily Chinese, while for graduate programs, English is often used. Many universities in China offer Chinese language courses, allowing international students to learn the language before beginning their academic programs.
One of the benefits of studying accounting in China for Iranian students is the relatively low cost of education and living in the country. Additionally, some Chinese universities offer various scholarships, which students can apply for to help fund their studies.
Top Universities for Studying Accounting Abroad
QS ranks the best universities worldwide in various fields of study every year. Many students choose their universities based on these QS rankings due to their high credibility. Here are some of the top universities in the world for studying accounting:
- Harvard University
- Massachusetts Institute of Technology (MIT)
- Stanford University
- London School of Economics and Political Science (LSE)
- University of Oxford
- University of Cambridge
- University of Pennsylvania
- University of California
- Columbia University
Scholarships for Studying Accounting Abroad
To apply for a scholarship to study accounting abroad, applicants must have an impressive academic record, with high grades and GPAs from their high school and pre-university studies. Additionally, applicants who have an IELTS or TOEFL certificate have a higher chance of receiving a scholarship. However, it is important to note that obtaining a scholarship for undergraduate programs is quite difficult, as only a few universities offer scholarships at this level.
It is also worth mentioning that those who wish to receive a scholarship for a Master’s or PhD in accounting must have a distinguished academic background in previous studies. A strong GPA and academic transcripts are essential, and having high IELTS or TOEFL scores, along with scientific research papers, can significantly increase the chances of securing a scholarship at these levels.
It is easier to obtain a scholarship for accounting at the graduate and doctoral levels because many universities around the world offer scholarships for accounting programs in these stages. For example, the University of Otago in New Zealand offers limited scholarships for the professional accounting Master’s program. Each scholarship is valued at NZD 10,000, and they are awarded to only ten international students who meet the qualifications for studying accounting abroad.
Cost of Studying Accounting Abroad
The cost of studying and living abroad varies greatly between countries. For instance, tuition and living expenses in countries like the United States can be extremely high, and international students often struggle to cover these substantial costs. On the other hand, some countries in Europe and Asia offer more affordable and favorable conditions for international students.
Studying abroad has numerous advantages; however, international students interested in pursuing accounting should carefully evaluate the cost of studying and living in different countries. This will help them make the best choice based on their financial situation. The costs associated with studying accounting abroad are influenced by several factors, and here are some of the key expenses:
- Tuition Fees: The cost of tuition depends on factors such as the reputation of the university or educational institution, the level of education (undergraduate, master’s, PhD), and the duration of the program.
- Living Expenses: The cost of living in the destination city has a significant impact on the total cost. These expenses include rent, food, transportation, books, stationery, entertainment, and leisure travel.
- Health Insurance: In some countries, students are required to pay for their health insurance, which may be included in their overall student expenses.
- Visa and Residence Costs: The costs associated with obtaining a visa and residency in the host country are also a critical factor in total expenses.
- Currency Exchange Rate: Fluctuations in the exchange rate can significantly impact tuition and living costs. Increases or decreases in the currency exchange rate may lead to higher or lower costs.
Job Market for Accounting Graduates and Immigration Opportunities
The job market for accounting graduates abroad depends on the country and its labor market conditions. Individuals with accounting degrees and related skills can pursue careers in various fields such as corporate accounting, financial management consulting, and investment banking.
It’s also important for international students to consider that while studying abroad, there are opportunities to enter the job market of the host country. For instance, graduates can work in government agencies as financial inspectors. These positions allow graduates to contribute to the public sector and gain valuable experience in the country’s financial infrastructure.
Income and Salaries of Accountants Abroad
In general, pursuing an accounting degree abroad and entering the job market in that country can vary depending on the specific job title you hold. A key point to note is that accountants typically earn higher salaries compared to other professions.
It is essential to understand that the salary you receive will depend on your work experience. As a beginner, you can expect to earn an average annual salary of around $36,000. Below are the salary ranges for accountants in various countries:
- Australia: AUD 30,000 to AUD 100,000
- United States: USD 50,000 to USD 120,000
- Netherlands: EUR 35,000 to EUR 50,000
- United Kingdom: GBP 68,000
- Germany: EUR 93,000
Conclusion
This article from Elm Vira Immigration Institution covered the conditions for studying accounting abroad and entering international universities for accounting programs. As mentioned, many people pursue accounting degrees abroad each year, whether starting their studies or continuing with postgraduate education. This can be a significant step toward entering the job market in the host country.
It’s important to note that accounting is a field offered locally, and each country or region has its unique conditions and regulations. If you’re interested in studying this field at top accounting universities worldwide, you can reach out to our experts at Elm Vira Immigration Institution. Our team is dedicated to providing you with the best guidance. For more information about studying abroad and to receive personalized advice, please visit our free consultation section.
میانگین امتیازات 5 از 5
Vote count: 1 Vote