Masters in Accounting in UK

A Complete Guide for Indian Students


Why Study Accounting In The UK?

With global revolution and high demand of unconventionality, United Kingdom has bought revolutionary changes in the wellbeing and living standard.  With high achievers and global leaders of the world, United Kingdom established their identity before any other country and they have a significant role in bring changes. Accounting is one such course that has been preferred by the country to flourish their career growth and learn new skills. Individuals belong to third world countries tend to experience limitation of opportunities for economic like subjects that prevent them to expand their educational base.  United Kingdom is one such country that provides opportunities for higher studies, especially rare subjects to embrace multiculturism and diversity. With the current alteration of economic stability, global recession, employment opportunity is highly limited in third world country. In India, the students tend to have limited opportunities as majority of the students are focusing on  developing their career in mainstream career options such as Doctors, engineering or general subjects.

Very limited students are currently opting the accounting and students must crack the difficult examination to be a charter accountant. On the other hand, United kingdom have top universities which can over more than one  aspects of the accountant and hence,  Indian students are currently opting for such opportunities in foreign countries. However, costing of the studying in India is much lesser compared to United Kingdom that may hinder students to pursue such course in United Kingdom. In this context, UK Council for International Student Affairs (UKCISA) are offering distinct scholarship courses to the students who are willing to study in United Kingdom but unable to do so due to financial issues. The students can explore their website and compare the cost before proceeding with enrolment. If they are satisfied with the amount they are receiving from scholarship, they can apply for the course of accounting in United Kingdom. The students are encouraged to pursue such course in United Kingdom in order to gain high opportunities internationally. 

Popular Accounting In The UK

The popular accounting course in United Kingdom are following:

  • AAT courses.
  • ACA qualification.
  • Chartered accountant (CA) status.
  • CIMA qualification.
  • ACCA qualification.
  • AIA professional accountancy qualification.

However, some of the students are offered with Online accounting courses even while living in other countries. The students who are willing to enrol their name in an accounting degree in United Kingdom while living close to their loved ones can opt for this course. This course also provides similar curriculum as offline courses to all of the students who are studying online. 

Duration Of Accounting In The UK

Similar to any typical course, United Kingdom also offering the course duration 3 years or two years based on the degree. However, unlike other countries, this country is offering 6 months to 1 year placement in top enterprises in order to breach the gap between academic skills and practical scenario. The following segment will indicate the duration of study in UK

Undergraduate Students:

The student’s degree takes three or four years to complete an undergraduate degree. The students were provided with extensive opportunities, equipments to explore their three years in the college campus to expand their knowledge. Since accounting is a unique course for the students, they can study for three years. The extra ordinary curriculum provided insight into the skills and knowledge that can support them to work in business world. The students can work on their personal skills of communication and basic calculation in order to improve their score. The students who are unable to qualify the examination must repeat that   year. 

Graduate Students:

While bachelor degree takes three years at least, some of them are also considered to be four years. These are considered as the graduate degree and sometimes, they are used interchangeably as the graduates or undergraduate. The students who are willing to enrol their name in diploma courses are also considered to be graduates and these courses are usually also called graduate courses. However, mostly they are interchangeably used for   the same course. 

Post-graduate Students:

The post graduate students tend to cover their course within 2 years. . Some of the students are unable to afford high-cost degree in foreign universities and hence, they can apply for the post graduate scholarship offered by different countries in United Kingdom. The major focus of the course is to expand the information and knowledge which was initially developed in Undergraduates. However, the students can expand their research skills well as the educational skills in order to pursue their career as charter accountant and any other accountant aspects. 

Cost Of Studying MS Degree In The UK

Undergraduate Students:

The average tuition fee for Bachelor of Accounting in Canada ranges between 16,500 to 47,000 EURO. It will approximately 10.03 to 28.5 lakhs in Indian money. However, Diploma and certificate courses in accounting range annually from 5,000 euro to 20,000 euro ; whereas UG degree programs lie in the range of 20,000 EURO to 60,000 EURO annually. Hence, the students can enrol their name according to their choice of subject and ability to afford the course. 

Graduate Students: 

The undergraduate degrees are graduate degrees and hence, costing is same for the individuals who are willing to consider course in United Kingdom. The student can pay their tuition fees with 50% from their pocket while 50% of scholarship money. 

Post-graduate Students

PG degree programs like MSc Accounting in Canada lie in the range of 30,000 EURO to 40,000 EURO annually. However, the students can be willing to seek PG but diploma is also option for them. PG diploma courses in Canada range from 15,164 EURO to -61,200 EURO.  In India, this cost will be approximately 37 lakhs INR and the students can apply for scholarship in this case in order to  seek equal opportunities in United Kingdom. 

Cost Of Living In The UK

The UK is a multicultural country and is also immensely popular with international students. In fact, the UK is the second most popular destination for overseas students in the world. This diversity means our campuses are alive with different cultures. However, while considering living in such country more than two to three years, it is highly expensive and may affect the current dream of pursuing something abroad. Studying in the United Kingdom can definitely take a toll on in pockets and subject students to rethink their decisions of living in foreign country.

This is mostly because of cost of resources, health care setting and transportation. Accommodation and living in foreign country are costly compared to living in their own country. Therefore, living in United Kingdom is always expensive compared to other countries. For example, the average cost of living in UK for international students is around £12,000 - £15,600 per year. The cost of living in UK includes factors like accommodation, food and groceries, household bills, transportation, entertainment, etc. Hence, scholarship may not cover the living cost but it can cover the tuition cost and hence, the students can use their own money or employment money for living. 

Accounting In The UK With Scholarships

The student living in the United Kingdom may not require extensive financial support but student Overseas requires a high financial support in order to expand the knowledge base.  Many students are unable to study abroad or drop out early due to the financial barrier and low education opportunity in their own country. The students now have an opportunity for a scholarship that is offered by the United Kingdom government. United Kingdom government usually offer more than 3000 students overseas who have limited financial support for the students and they also provided with employment as well as other opportunities.  United Kingdom also has a top Universities which can offer the scholarship which can address the financial and educational barriers of the overseas students. The common scholarship that are provided to the students are following: 

  1. EY Assurance Scholarship (it is provided to the students for 2 years with 5000 EURO)
  2. JSCCA Bursary (it is provided to the students for   3 years with 3000 to 4000 EURO)
  3. ICAS Foundation Bursary (it is provided to the students for 2 years with 5000 EURO)
  4. Mark V Williams Undergraduate Scholarship – UEA (  it is provided  to the students for 2 years with 1200 EURO)
  5. Director of Programmes (Accounting & Finance) Scholarship– BPP University (  it is provided  to the students for 2 years with 7500 EURO)
  6. Nexen Petroleum UK Ltd Scholarship – University of Warwick ( it is provided  to the students for 2 years with 7500 EURO)

UK has also announced more incentives to attract international students – such as visa changes and friendlier immigration policies. Hence, scholarship is cherry on the top because scholarship schemes are attractive to keep overseas students. The scholarships will be awarded primarily on the basis of financial need.

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Frequently Asked Questions

There are several universities in the UK that offer top-notch Masters in Accounting programs. Here are some of the best universities for pursuing Masters in Accounting in the UK, according to the 2022 QS World University Rankings:

  1. University of Oxford - Said Business School
  2. University of Cambridge - Judge Business School
  3. London School of Economics and Political Science (LSE)
  4. Imperial College London - Imperial College Business School
  5. University of Warwick - Warwick Business School
  6. University of Manchester - Alliance Manchester Business School
  7. University of Edinburgh Business School
  8. University of Bath - School of Management
  9. Lancaster University Management School
  10. University of Leeds - Leeds University Business School

A Masters in Accounting degree from a UK university can provide you with excellent career opportunities in the UK and beyond. Here are some of the career options that may be available to you after completing your degree:

  1. Accounting and Auditing
  2. Financial Analysis
  3. Management Accounting
  4. Taxation
  5. Consulting

Overall, the scope after completing a Masters in Accounting degree in the UK is excellent, with many lucrative and rewarding career opportunities available.

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