Topic:
- Introduction
- Why study accounting and finance in Australia?
- Courses available
- Entry requirements for international students
- Best universities to study accounting/finance
- Career outcomes after studying accounting or finance
- How to pass a skill assessment
- PR pathway for international students
- Visa Options
- FAQs
Introduction
Accounting and finance are no doubt two of the most popular study options in Australia, all businesses, organizations, and governments need financial information in order to make decisions. According to Payscale’s research, senior accountant can make up to AU$75504, average salary for mortgage broker is AU$61,078 and investment banker is AU$92,528. The amount of job offers allow graduates to switch between jobs to gain new experience and to find their true passion.
According to SEEK website, there are over 10,000 jobs available under accounting and banking & financial services, which indicates job growth for accounting and finance is as fast as other occupations. As accountant and auditor are added to the Priority Migration Skilled Occupation List, accounting graduates still have a stable permanent residency pathway.
Why study accounting and finance in Australia?
- There are many CPA accredited courses to choose from
Australian universities are well known of their teaching quality, their qualifications are recognised worldwide. According to QS Ranking 2023 accounting and finance discipline, there are 8 universities listed among the world’s top 100.
- No specific background needed
If you are high schooler, you can either start with a Diploma and study your way into Bachelor, or you can use high school examination results to apply bachelor.
If you are a Bachelor graduate, Accounting and Finance master’s degrees often requires no background, just simply ask us at [email protected] or +61 7 3003 1899 for more information.
- Multiple intakes
Australian universities will normally have 2 or 3 intakes each year which makes it more flexible for international students to commence their program based on their individual situation.
By studying 2 years or more in a higher education accounting or finance degree, students will be eligible for a 2-8-year Post Study Working Visa. Graduates can utilize these visa opportunities to get more work experience. For accounting students, they can also use this working visa to prepare for their future migration options.
What accounting and finance courses might you study in Australia?
In Australia, you can find a wide range of accounting and finance courses offered by various universities and institutions. Some of the common courses you might come across include:
- Diploma of Accounting
A shorter program providing foundational knowledge in accounting principles and practices, suitable for those looking to start their careers in accounting.
- Bachelor of Commerce (Accounting/Finance)
It is a comprehensive undergraduate degree that covers various aspects of accounting and finance, including financial reporting, taxation, auditing, investment analysis, and corporate finance.
- Bachelor of Business (Financial Planning)
This is a program that combines business studies with specialised training in financial planning, including retirement planning, estate planning, and investment strategies.
- Bachelor of Economics (Finance)
This program combines economic principles with a specialization in finance, covering areas like financial markets, international finance, and monetary policy.
- Graduate Diploma in Applied Finance
This is a short program for individuals seeking practical skills in areas like financial markets, investment analysis, and portfolio management.
- Master of Professional Accounting (MPA)
Master of Professional Accounting is designed to provide advanced knowledge and skills in accounting principles, financial reporting, auditing, and managerial accounting.
- Master of Finance
This program focuses on advanced concepts in finance, including investment analysis, risk management, financial modelling, and corporate finance.
Want to know which course/s best suit your expectation and situation? Contact SOL Edu at [email protected] or fill out the enquiry form! Our team will offer you free consultation and free application process.
What are entry requirements for international students to study accounting/finance in Australia?
- For a Diploma course, normally applicants are required to have completed Year 12 or equivalent and attained IELTS 5.5.
- For a Bachelor’s course, normally applicants are required to have completed Year 12 or a Diploma and attained IELTS 6.5.
- For a Master’s course, normally applicants are required to have completed a Bachelor’s degree and attained IELTS 6.5.
If you don’t meet requirement for your preferred course? Contact SOL Edu, one of the best education agencies in Brisbane, today! Our team will offer you free consultation and free application process.
What are the best universities to study accounting/finance in Australia?
Ask us about scholarships
1.The University of Queensland
- Course duration: 3 years
- Tuition fee: $ 48160/year
- Course duration: 1.5 – 2 years
- Tuition fee: $ 48160/year
2. The University of New South Wales
- Course duration: 3 years
- Tuition fee: $45,340/year
Master of Commerce/Master of Commerce (Extension)
- Course duration: 1.7 – 2 years
- Tuition fee: $45,340/year
Master of Professional Accounting/Master of Professional Accounting (Extension)
- Course duration: 1.7 – 2 years
- Tuition fee: $ 48,675/year
3. University of Adelaide (More program options available)
- Course duration: 3 years
- Tuition fee: $44500/year
- Course duration: 3 years
- Tuition fee: $47,500/year
Master of Accounting and Finance
- Course duration: 2 years
- Tuition fee: $49,900 /year
4.Kaplan Business School Australia
- Course duration: 2 years
- Tuition fee: $46,400 for the whole course
Bachelor of Business (Accounting)
- Course duration: 3 years
- Tuition fee: $58,800 for the whole course
What is the PR pathway for international students after studying accounting/finance in Australia?
Studying accounting or finance in Australia can lead to a variety of rewarding career outcomes across different industries:
- Accountant
- Management Accountant
- Financial Accountant
- Tax Accountant
- Forensic Accountant
- Cost Accountant
- Auditor
- Banking and Finance Professional
- Investment Banker
- Commercial Banker
- Financial Consultant
- Wealth Manager
- Investment Manager
- Business Analyst
- Financial Project Manager
- Financial Planner
- Retirement Planner
- Estate Planner
- Risk Manager
- Stockbroker
How to pass a skill assessment for accounting degree holders?
To be eligible for any Australian skilled migration visa, students need to achieve a relevant skill assessment first. There are several key points for candidates to pursue accounting skill assessment:
- Qualification: Australian bachelor’s degree or 12 units Australian master’s degree or an overseas tertiary and/or professional membership qualification comparable to at least the level of an Australian bachelor’s degree (AQF level 7 or higher)
- Educational knowledge: Your course majors must be one of the followings: Accounting systems and Processes, Business Law, Economics, Financial Accounting and Reporting, Finance and Financial Management, Management Accounting, Quantitative Methods.
- English proficiency: You must obtain at least overall 7.0 IELTS with no band score under 7.0, or you have completed a professional year in accounting.
The Accounting Professional Year Program is approved by the Department of Home Affairs. It is available to overseas students who have an Australian accounting degree qualification as a result of at least two years’ study in Australia.
Want to know if your qualification and work experience are eligible for a migration skill assessment? Contact SOL Edu today at [email protected] or fill out the inquiry form. Our team will reach out to you within 24 hours at the latest!
What is the PR pathway for international students after studying accounting/finance in Australia?
Step 1: Apply for a 485 visa
After completing at least 2 years accounting/finance course, you are eligible to apply for visa 485 (Post Graduate Work Stream). You are required to have at least IELTS 6.0 (no band less than 5) to apply for this visa.
Under visa 485, you can stay in Australia for 2-8 years depending on your degree. Thus, you will have more time to prepare yourself for permanent residence (PR) or a temporary visa that can lead to a PR.
Step 2: Apply for a PR or a visa that can lead to a PR
After successfully completing an accredited accounting/finance course in Australia, you’ll find pathways to facilitate your migration to the country. Depending on your occupation, you might be eligible for one or more of the following visa options:
Eligible occupations:
Accountant (general) – 221111
External auditor – 221213
Management accountant – 221112
Taxation accountant – 221113
The invitation of this visa will be made based on candidate’s point test result and the general needs of the occupation throughout the nation.
Eligible occupations: all the occupations eligible for 189 visa plus Finance Manager (132211) which is on the short-term list.
Requirements for these 2 visa categories are difference in each state or territory in Australia.
Please contact our Registered Migration Agents for detailed counselling!
Employer nomination (186/482/494)
Candidates with relevant accounting qualifications, appropriate length of work experience and an eligible employer can consider this visa option. To be eligible for this visa, you must be nominated by an approved employer and have at least 2 years of work experience and pass the skill assessment.
Contact SOL Edu today at [email protected] to know which visa you are eligible for!
Visa options:
1. Skilled independent (189)
Eligible occupations:
Accountant (general) – 221111
External auditor – 221213
Management accountant – 221112
Taxation accountant – 221113
They are ALL currently on priority list.
The invitation of this visa will be made based on candidate’s point test result and the general needs of the occupation throughout the nation.
2.State nomination (190/491)
Eligible occupations: all the occupations above in 189 category plus Finance Manager (132211) which is on the short-term list.
Requirements for these 2 visa categories are difference in each state or territory in Australia.
Please contact our Registered Migration Agents for detailed counselling!
3.Employer nomination (186/482/494)
Candidates with relevant accounting qualifications, appropriate length of work experience and an eligible employer can consider this visa option. Visa options in this category require work experience in nominated occupation (at least 2-3 years).
FAQs
Interested in studying Business Management in Australia?
Contact SOL Edu, one of the best education agencies in Brisbane, today for free counselling, and a free application process!
What is the cost of studying accounting in Australia for international students?
The cost of studying accounting/finance in Australia can vary depending on the level of education and the specific university or institution. If you apply for a G8 Australian university, the tuition fee may be around 45,000 – 50,000 per year. However, the tuition fees of lower ranking universities should be more affordable, around 30,00 – 40,000 per year.
Is it worth studying accounting in Australia?
Studying accounting in Australia can be a worthwhile option since Australia is home to several reputable universities and institutions that offer high-quality accounting programs. An accounting degree from Australia is generally recognised and respected worldwide, so you can either working in Australia or finding a job in other countries after graduation from an Australian university.
Australia is a multicultural country, so you can experience multiple cultures, meet people from different backgrounds, and develop a broader perspective on global business practices.
More importantly, if you’re interested in living and working in Australia after completing your studies, an accounting degree could potentially open doors to permanent residency or other work visas.
Are you able to get PR in Australia after studying finance courses?
Yes, studying accounting or finance in Australia can lead to obtaining PR in Australia. You can apply for a Skilled independent (189), State nomination (190/491), or Employer nomination (186/482/494) visa depending on your occupation. Contact our Registered Migration Agent at [email protected] or fill out the enquiry form to know which visa you may be eligible for.
What should I do if I don’t meet the entry requirement for a Bachelor of Accounting/Finance?
If you do not meet the entry requirement to directly enroll in a bachelor’s degree of accounting/finance, you can choose the Diploma pathway option. It means that you can study the Diploma in Accounting/Finance for one year (the entry requirement for this course is only 5.5 IELTS) and then transition to 2 years Bachelor of Accounting/Finance. The total study duration is still 3 years which is the same as the Bachelor of Accounting/Finance– direct entry program.
Is it possible to switch from studying accounting to finance, or vice versa, during my course of study?
Many Australia universities offer flexibility to change majors within the business school, for example switching from studying accounting to finance and vice versa. However, please check with your school well in advance if you can switch and bear in mind that the transferring process may affect your length of study.
What's the difference between studying accounting and finance?
Accounting and finance are related to each other; however, accounting focuses on recording and analysing financial transactions, while finance involves managing funds, investments, and financial planning.
Do I need to have a background in accounting or finance to study these programs in Australia?
While prior knowledge can be helpful, many programs offer introductory courses to accommodate students with diverse academic backgrounds. Therefore, you are still able to study finance/accounting in Australia without relevant background. Contact us at [email protected] or 07 3003 1899 for more information.