Study Accounting in Australia
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Accounting Studies in AustraliaThe natural beauty and culture of Australia has for years now made it one of the top destinations for international students studying abroad, including for those pursuing an education in the very lucrative field of accounting. Comprised of a massive mainland, the island of Tasmania and several smaller islands, Australia, with nearly 3 million square miles of geographic land space, is the world’s sixth-largest country by total area. Its neighbors include the countries of Indonesia, East Timor and Papa New Guinea to the north; the Solomon Islands, Vanuatu and New Caledonia to the northeast; and New Zealand to the southeast. According to census records, the country has an estimated population of 22.9 million, making it the world’s 52nd most populous nation. Canberra is the official capital and seat of the government in Australia, while Sydney is by far its largest city.
Accounting Education in AustraliaAccounting is a major area of study, and is therefore offered as a degree and/or certificate program by most of the universities throughout Australia, including the University of Western Sydney, where Accounting is offered at both the undergraduate and graduate degree level.
With nearly 40,000 full-time students, the University of Western Sydney (UWS) is one of the largest universities in Australia. It is also one of the most popular institutions for students studying abroad, hosting nearly 3,000 international students each year from 70 different countries. UWS is a young, energetic and rapidly growing university, with six campuses spread about the greater West Sydney region.
The accounting programs offered by UWS and other universities in Australia, provides students with an opportunity to initiate and ultimately complete the pre-entry educational requirements for the CPA Australia and the Institute of Chartered Accountants in Australia (ICAA), where a 16-unit Master of Science degree in accounting is the minimum requirement. That program, which typically spans two years for full-time students, includes general business courses as well as courses that deal specifically with accounting-related topics, including:
- General Accounting. An introductory course, General Accounting spans an array of topics, including business operations, financing, investing, financial reporting and external reporting.
- Cost Accounting. The Cost Accounting course deals with concepts and procedures in cost accounting, with topics that may include cost behavior and control, job and process costing, cost-volume-profit relationships, and activity-based accounting.
- Financial Accounting and Reporting. Courses in Financial Accounting and Reporting cover the recording and reporting of events in the revenue and expenditure cycles, including special issues and full disclosure topics.
- Taxation. The broad range of taxation concepts and practices, including those applicable to corporations, partnerships and individuals, are dealt with thoroughly in this course. Examples of some of the major discussion points include tax research, tax planning and legal and ethical considerations.
- Auditing. This course takes a closer look at the variety of auditing roles played by public accountants, internal auditors, fraud auditors and compliance auditors.
- Accounting Information Systems. This course delves into the control aspects of accounting systems, including the process of setting standards, security, cost-effectiveness, operational controls and administrative controls.
Why Study Abroad in AustraliaAs we mentioned earlier, Australia is rapidly becoming one of the most preferential destinations among international students, ranking third in that category for English-speaking countries behind only the United Stated and United Kingdom. One of the reasons for this popularity is that Australia offers a unique educational experience and a learning style that encourages you to be innovative, creative and to think independently. Graduates from Australia are typically very successful in finding jobs and holding prominent positions worldwide. Additionally, they are readily accepted for postgraduate study at leading international universities; a testament to the country’s excellent reputation for higher education.
Australia is a very spacious and picturesque country—a country comprised of gorgeous white sand beaches, lush green plains, lively forests and majestic mountain peaks. Its culture is vibrant and dynamic, and its people are energetic, friendly and always very welcoming to international students, It’s a place where students can feel safe as they explore and learn about the various natural and manmade wonders that together form the beautiful landscapes of the Land Down Under.
In terms of cost, Australia offers incredible value for your money and a standard of living that is among the highest in the world. Living expenses and tuition costs are considerably less expensive than that of the USA and UK, freeing up more money for you to sightsee and enjoy the various amenities of Australia’s cities, while still receiving a world-class education.