What are your career prospects after studying Accounting and Finance in the UK?

The world of finance and business has ruled the job market for ages and will continue to do so. Almost every business and every organization in the world needs professionals that can help them manage their finances and keep track of their accounts. As a result, accounting is an indispensable part of the business world and has hundreds and thousands of job opportunities. 

A degree in Accounting and Finance equips you with the technical know-how of managing finances and books of accounts. Students with a degree in Accounting and Finance learn how to interpret financial information and steer and guide business decisions. 

Why is the UK one of the best destinations to study finance in the UK?

The United Kingdom is one of the premier destinations to study accounting and finance and is home to some of the world’s most reputed business schools. Degrees obtained in Accounting and Finance in the United Kingdom offer employment in major financial capitals such as London. A degree in accounting and finance obtained from a reputed university in the UK is a gateway toward securing a job in one of the most financially important cities in the world.
 

1. With a UK accounting degree, you may flex your mathematical muscles while using technological expertise to solve practical business problems. Following course completion, you will have a variety of job alternatives, such as chartered accountant, company secretary, external auditor, or stockbroker.
   
    
2. A bachelor's or master's degree in accounting from the UK can boost employment in the London financial sector, one of the best and largest businesses in the world.
   
    
3. Around 35,000 GBP (33,74,694.17 INR) is the beginning salary for accountants, which is a fantastic place to begin your career.

Accounting and Finance in the UK: Highlight 
 

Top universities to study Accounting and Finance

A profession in accounting is a promising choice for the future that provides graduates with a variety of prospects. To give accurate financial data and encourage corporate growth, it requires analytical, interpreting, and adaption skills. Even if you have the qualifications to become an accountant, you still need to decide which branch of accounting best suits your skills and investigate the required education. Finding an accounting course in the UK is the first step in acquiring the necessary abilities.

The UK is the top country for overseas students who want to study accounting. Students in UK accounting programmes are prepared for careers in accounting, finance, and business. Along with more fundamental business themes like operations and people management, the courses address a number of important subjects, including corporate finance, financial risk, and auditing. 

Some of the universities that offer degrees that have excellent reputations include: 

• University of Leeds 
• University of Glasgow 
• University of Bath 
• University of Bristol 
• University of Manchester 
• King’s University London 
• London Business School

Let's go into more information about each university below:

London's Imperial University

The master's programme in accounting and finance at Imperial University London is theoretically strong and incorporates some of the top corporate finance research. Additionally, it is extremely pertinent, enabling you to address real business and value concerns in mergers and acquisitions and real estate deals.

The University of Edinburgh

If you have a quantitative background, the Accounting and Finance course is a fantastic choice for you because it closely aligns with practical practise. Through case studies and real-world applications, this curriculum will challenge you academically and prepare you for future professions in accounting and finance.

The University of Manchester

The University of Manchester provides a top-notch accounting education. Gain a thorough understanding of societal issues with the aid of accounting, finance, and social science course units. Learn from the Economics courses offered by the School of Social Sciences and the Accounting and Finance courses offered by the Alliance Manchester Business School. 

University of Warwick

One of the top universities in the UK that offers accounting courses is University of Warwick. The programme gives students the flexibility to tailor their education to match their unique interests or professional objectives. Additionally, students have the option to select modules from particular subjects and stick with them through their senior year.

University of Birmingham

The University of Birmingham wants to improve your understanding so you can perform at a degree-level function as part of the accounting and finance course. Although you must pass it to advance, it has no bearing on the classification of your degree in the end. The financial track of this programme is connected to the CISI, CFA, and IMC.

These universities prepare the students with the knowledge and the know-how quired to excel in the financial aspects of the business. 

Program Overview and Curriculum for Accounting in UK

The accounting degree in UK is intended for students willing to be a part of finance or banking job in the UK. The program covers different areas of accounting subjects.

Courses Offered under Accounting Course in UK

• BSc in Banking and Finance
• MSc International Accounting and Finance

Important Subjects Covered in the course are-

• The Economics of Money, Banking and Finance
• Business Finance
• Introduction to Finance
• Global Financial Markets
• Business Readiness

Eligibility Criteria for Accounting Course UK

You must meet the necessary eligibility requirements to be considered for admission in order to study accounting in the UK. Several of these are listed below:

• Educational Qualification
• English Language Proficiency Test Scores
• GRE or GMAT Test Scores
• Work Experience
• USA Student Visa.

Let us check all criteria in detail below:

Educational Qualification

For Bachelors

• Students should carry a qualifying certificate of class 12th or high school from a registered educational institution with an accounting or finance background having a score of 60-70%
• Should have the subjects of accountancy/ business/ mathematics.

For Masters

• Upper second class honors degree (2:1) or equivalent in accounting and finance or a related subject in the bachelor’s degree course. Also, the GPA should be around 7-8.5/10.
• Students may ask to provide their medical history or medical documents.

English Language Proficiency Test Scores

When applying for admission to a UK accounting course, international students must submit their TOEFL, IELTS, or comparable English proficiency test results. The minimum test score needed to study in the UK for the English language is:

• IELTS- 6.0-6.5
• TOEFL- 100

GMAT/GRE

Another important requirement for international students to pursue accounting courses in UK is the GMAT or GRE qualification. Average scores as per the tests are:

• GRE-320
• GMAT- 650

Work Experience 

Universities in the UK may need work experience for an accounting master's degree. The ideal amount of job experience is 3–4 years. Having sufficient professional experience would undoubtedly help to improve your chances of admission, even though it may not be a prerequisite.

Student Visa

Along with fulfilling the admission standards, one of the primary requirements for studying abroad is obtaining a student visa for the country in which you wish to enrol. A UK student visa typically takes three weeks to process, though this time may increase during peak times.

Documents Required for Accounting in UK

A complete list of documents to study accounting in UK include:

• Academic Transcripts
• Updated Resume
• TOEFL/IELTS/GMAT/GRE scorecards
• Letters of Recommendation
• Valid Passport
• Statement of Purpose
• Proof of relevant job experience (if applicable)
• Proof of Funding for living and study expenses

Application Procedure for UK Accounting Courses

Students who want to study accounting in the UK must go through the following admissions procedures:

1. Once you've been chosen, complete the online application and pay the price.
2. Before the deadline, double-check all the paperwork you'll need for the admissions process and upload it online.
3. You will get an email from the Universitys you apply to if your application is accepted.
4. Prepare for the university interview rounds.
5. If chosen, the applied university will send you an acceptance letter; you must submit the confirmation letter within the specified window of time.
6. Once everything has been confirmed, pay the tuition fees.

Cost of Studying Accounting in UK

Most expenses incurred while pursuing accounting in the UK are related to tuition and living expenses. Below are tuition fees and living costs.

Tuition Fees

On average, the annual tuition fees for Accounting courses in the UK are around-

1. Bachelor’s- 9250 GBP (89, 1883.46 INR) Annual
2. Master’s- 32151.06 GBP (31, 00,000 INR) Annual

Cost of Living

In the UK, the average annual cost of living for overseas students is about 2,500 GBP (INR 2, 39,163). The location, transportation, and other costs are taken into consideration when determining the cost of living.

What are the best jobs offered after completing an Accounting and Finance degree in the UK?

Jobs offered to individuals with accounting and finance degrees include Chartered Accountants, Certified Accountants, Management Accountants and Stockbrokers. The degree can also come in handy when applying for jobs such as Actuaries, Data Analysts, Arbitrators and Tax Advisors. These jobs prefer individuals who have specialized knowledge in the field, students of accounts and finance. In the UK, one should expect to earn an income of around £18000-£22000 per year at the beginning of their career after pursuing a degree in Accounting and Finance in the UK. 

Thus, After completing an accounting course in the UK, an international student can apply for numerous jobs and earn a sizable salary. The basic wage and senior-level salary for a few accounting positions accessible in the UK are shown in the following table:

Scholarships for International Students to Take Accounting Courses in the UK

To pay for their studies, students enrolled in accounting programmes in the UK will need scholarships. Several of the well-liked grants available are:

Things to consider before getting into a job in the UK

Accounting and investment firms recruit individuals who have pursued the degree and offer letters of employment. International students can then use this letter of employment to apply for a Tier 2 (Work) Visa that would allow them to work in the United Kingdom for up to 5 years, post which they can apply for residency in the United Kingdom. 

The opportunities available in the United Kingdom come from employers such as accountancy firms, building societies, high street banks, insurance companies, management companies, investment corporations, and the government in the form of public sector employers. 

Higher education in the UK after completing accounting and finance

Besides the above, another option that reaps the rewards includes studying while working in the long run. Individuals may choose to pursue their studies further in the United Kingdom to get higher-paying jobs. Accountancy degree holders can opt to study further to qualifications for the Association of Chartered Certified Accountants (ACCA), or the Chartered Institute of Management Accountants (CIMA) professional qualification, or the Association of Accounting Technicians (AAT) qualification.

FAQs

Ques 1. Is it challenging to take an accounting course in the UK?

Ans. The British curriculum has a little bit higher standards. However, with a lot of work and effort, students who are eager to succeed in the programme and have the right interests can complete it.

Ques 2. Which top universities in the UK are known for their accounting programmes?

Ans. In addition to the universities already mentioned, there are also the following:

1. University of Glasgow
2. Bath University
3. University of Exeter
4. University of Strathclyde
5. University of Bolton

Ques 3. Is it worth it to take accounting classes in the UK?

Ans. Yes, there are excellent opportunities available to accounting students who have completed the necessary coursework in the UK.

Ques 4. Is the GMAT or GRE required to study accounting in the UK?

Ans. GMAT/GRE scores are required as part of the requirements to study accounting in the UK.

Ques 5. How long does a master's in accounting take in the UK?

Ans. In the UK, a master's in accounting typically lasts between nine months and two years.

Conclusion 

The United Kingdom represents a land of opportunities and a chance at working and living in one of the financial capitals of the world that could open more doors for you in the future. The United Kingdom is an excellent destination to start your career in the field of accounting and finance. For further information regarding counseling or consulting, visit our website and talk to our experts.