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Best Universities for Accounting and Finance in Australia

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Nov 09, 2022Date Published
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Accounting and finance are two of the most popular subjects in Australia. Both disciplines are highly technical, requiring a lot of maths and statistics, but they are also heavily focused on relationships between people and businesses. These subjects help business owners and managers understand how money moves through a firm or organisation, how it's spent, and who benefits. There are many accounting and finance universities in Australia, but which one is the right fit for you? We will analyse the best universities for accounting and finance in Australia to help you decide.


7 Best Universities in Australia to Study Accounting and Finance

With the high demand for Accounting and Finance graduates, many universities have developed degree programs in this field. What makes an excellent program for you? And which university should you choose? When selecting a university, you want to ensure it is the right fit for your needs. The best way to do this is to research the school and its reputation in accounting and finance. To help you, we shortlisted our top picks when it comes to the best universities for accounting and finance in Australia!

With dozens of universities offering these programs, you will find a university that suits your interests. You will also be able to take elective courses in other vital areas related to these fields like banking, economics, marketing and so on. The tuition fees may depend on the university and location, though some programs may be cheaper in Australia compared to other countries.


Why Study Accounting and Finance in Australia?

Accounting and finance are broad disciplines and globalisation has enlarged financial markets. There are plentiful learning resources and opportunities in Australia for international students. If you want to become an accountant or financial adviser, Australia is a great place to pursue your degree. There are many factors why you should choose Australia for your accounting and finance programs, such as:

High-Quality Education

Australia has several institutes where you may study accounting and finance management skills. Top universities offer excellent programs taught by experienced faculty members passionate about teaching others how to succeed in these fields!

The universities offer a large variety of majors such as Master of Commerce, Master of Professional Accounting and Master of Business Administration degrees for you to choose from so you can specialise in the field that best suits your interests. Globally-recognised and regulator-accredited institutions in this nation guarantee high-quality education.


Career Opportunities

Choosing an accounting and finance program in Australia can make your career progression effortless. You develop real skills that companies require and accounting positions span various sectors. Graduates may work as auditors, economists, stockbrokers, or as a company's CEO. Successful companies need effective accounting and finance managers to manage cash flow or incoming and outgoing money. You may work globally with accounting degrees that satisfy global standards.

The best part is that an accounting and finance degree from Australia’s world-renowned universities immediately enhances your graduate employability. This, along with flexible options to work as a student as well as pursue post-study work opportunities, makes Australia the perfect choice to get your degree.

Accounting and Finance are among Australia's most popular and well-paid job scopes .The average annual income for accounting and finance is AUD 92,800, or AUD 47.60 per hour. Most experienced workers earn up to AUD 147,000 per year, while entry-level roles start at AUD 63,000.

Here are Australia's top finance and accounting roles
Job Title
Average Salary (AUD)
Chief Financial Officer (CFO)
$147,508 per year
Finance Manager
$123,049 per year
Finance Systems Analyst
$119,588 per year
Audit Manager
$114,333 per year
Finance Analyst
$100,822 per year
Financial Accountant
$95,487 per year
Account Manager
$85,469 per year
Account Executive
$87,176 per year
Chief Information Officer (CIO)
$82,439 per year
Accountant
$75,744 per year
Administration Officer
$63,599 per year


Requirements for Accounting and Finance in Australia

There are many different qualifications, each with its own set of entrance requirements. A typical application for any degree program at an Australian university will generally require the following:

  • Academic transcripts
  • Proof of English language proficiency test score (IELTS, TOEFL or PTE Academic)
  • Letters of reference
  • Statement of purpose: Explain why you want to take this course
  • Up-to-date resume

Apart from this, you generally need to show a strong background in maths, statistics and calculus before entering university. Finance students need to have completed a year of mathematics at a high school or university before applying for a degree program.

The following is a list of the general entrance criteria for Accounting and Finance in Australian universities:

Level of Study
Cost of Education (AUD)
Duration
Requirements
Bachelor’s Degree
$34,000- $60,000/year
3 years
IELTS: 6.0 - 6.5
TOEFL (iBT): 60-75
PTE: 50

Master’s Degree
$35,000- $50,000/year
1 - 2 years
IELTS: 6.0 - 6.5
TOEFL (iBT): 75
PTE: 58-64

Doctorate Degree
$21,000- $47,500/year
3 - 4 years
IELTS: 6.5 -7
TOEFL (iBT): 79-93
PTE: 61

*Note: All factors vary by university, programme, country, and timeline.


Australia's Top 7 Accounting and Finance Universities

The best universities for Accounting and Finance in Australia have a strong reputation for providing a first-rate education. Start by looking at the ratings and reviews of each university's course offerings, then see if any of them have a high placement rate for their graduates. Look into the minimum requirements of each program and whether the course outline covers what you’re seeking.

Of course, be sure to look into the tuition fee ranges that fit your budget and the costs of living for each university’s location too. You can also look at the university's alumni network to see if there's an industry connection you can tap into. If you want to study Accounting and Finance in Australia, consider these universities:

No.
University
QS World Ranking 2022
THE Ranking 2022
Location
1University of New South Wales
20
70
Kensington
2University of Melbourne
21
33
Melbourne
3University of Sydney
24
=58
Sydney
4Monash University
=34
57
Melbourne
5Australian National University
=41
=54
Canberra
6University of Queensland
53
=54
Brisbane
7Macquarie University
=83
192
Sydney

If you're not sure which universities offer this course, consider taking a look at what other students are saying about their experience at a certain school—that information will help you determine whether it's the right fit for you!


1. The University of New South Wales

The UNSW Sydney is one of the best universities in Australia for accounting and finance. QS Top Universities ranks it first in Australia for Accounting and Finance.

UNSW’s Business School has over 42 programmes. In the year 2021, the institution enrolled 50,000+ students from 130+ countries. The university's research institution has experts worldwide in their specialities. This lets you study cutting-edge tactics and ideas, giving you an edge over other grads.

You will have a fundamental understanding of business and will start compiling a portfolio that displays your abilities to potential employers. You will develop your knowledge by choosing a major concentration. Your unique perspectives, gained through the study of economics, are applicable in various contexts. And crucially, you will acquire highly transferrable analytical abilities relevant to various jobs through a UNSW degree.

The main Accounting and Finance degrees that UNSW offer includes:

  • Bachelor of Commerce
  • Bachelor of Economics
  • Master of Professional Accounting
  • Master of Finance
  • Master of Financial Analysis

Average tuition fee for international students:

  • Under­grad­uate program: AUD 45,000 (total cost)
  • Post­grad­uate program: AUD 49,000 (total cost)
  • Research program: AUD 35,000 (total cost)


2. University of Melbourne

The University of Melbourne is a top-ranking business school in Australia. It is one of the world's leading Research Universities. The University has strong ties with the industry, with many alums working as CEOs or CFOs at some of Australia's largest companies.

The Melbourne Business School provides foundation and advanced studies in accounting and finance. In addition to its reputation for business education and research, another reason why so many students choose this university as their first choice is because it offers innovative programs that can help you build your career faster than other universities. You may even get an employment offer during your studies.

The main Accounting and Finance degrees at University of Melbourne include:

  • Bachelor of Commerce
  • Master of Management Accounting and Finance

Average tuition fee for international students:

  • Under­grad­uate program: AUD 31,870 per year
  • Post­grad­uate program: AUD 31,000 per year


3. University of Sydney

The University of Sydney is one of the most prestigious universities in Australia and it's no surprise that it's home to many excellent accounting and finance courses. The university offers both undergraduate degrees as well as postgraduate qualifications. The Accounting and Finance Department has over 100 full-time faculty members who teach students how to do their best work in this field.

The main Accounting and Finance degrees at the University of Sydney include:

  • Bachelor of Commerce
  • Bachelor of Economics
  • Master of Commerce in Finance
  • Master of Professional Accounting

Average tuition fee for international students:

  • Under­grad­uate program: AUD 48,000
  • Post­grad­uate program: AUD 50,000 - 52,500
  • Research program: AUD 50,000


4. Monash University

Monash offers one of the largest and most diverse faculties of accounting and finance in Australia. The university has over 2,000 undergraduate students enrolled for its courses each year, with an additional 400 postgraduate students studying at Monash Business School or Curtin Business School.

The main Accounting and Finance degrees at Monash University include:

  • Bachelor of Commerce
  • Bachelor of Banking and Finance
  • Bachelor of Accounting
  • Master of Accounting
  • Master of Banking and Finance
  • Master of Advanced Finance

In addition to its large number of accounting and finance courses, there are also many other options available including:

  • International Finance
  • International Marketing Management
  • Tourism Economics
  • Industrial Economics
  • Human Resources
  • Management & Marketing

Average Tuition fee for international students:

  • Under­grad­uate program: AUD 47,000 (total cost)
  • Post­grad­uate program: AUD 46,000 (total cost)
  • Research program: AUD 33,700 (total cost)


5. Australian National University

The ANU is a top 100 university known for business and economics. It has a strong reputation for research, especially when it comes to accounting and finance. The university's Business School offers an Associate Degree program that can lead directly to Bachelor of Commerce Honours degrees or Masters Degrees from other institutions such as Monash University or Curtin University (Australia).

The main Accounting and Finance degrees ANU offers include:

  • Bachelor of Accounting
  • Bachelor of Finance
  • Master of Accounting
  • Master of Finance

Average tuition fee for international students:

  • Under­grad­uate program: AUD 43,600 per year
  • Post­grad­uate program: AUD 43,600 per year


6. University of Queensland

The University of Queensland is a public research university in Queensland, Australia. The institution hosts some of Australia's best accounting researchers who have won significant honours, grants, and fellowships. UQ’s courses include:

  • financial reporting and strategy
  • business analysis
  • auditing environment and technique
  • costing systems and cost management
  • commercial law
  • taxation law

After receiving your degree, you will have the opportunity to find employment as an accountant or counsellor in various settings, including public and private organisations, management and consulting firms, small businesses, banks and other financial institutions, government agencies, and nonprofit organisations.

The leading Accounting and Finance degrees at the University of Queensland include:

  • Bachelor of Commerce
  • Master of Commerce

Average tuition fee for international students:

  • Under­grad­uate program: AUD 2,700-3,500 per unit
  • Post­grad­uate program: AUD 2,700-3,500 per unit


7. Macquarie University

Macquarie University is one of the best universities for accounting and finance in Australia. Its programmes concentrate on industry-relevant research and practice. The university offers a wide range of courses across its six faculties:

  • Business Administration
  • Economics & Finance
  • Information Systems & Computing
  • Languages & Cultures
  • Management & Marketing

The leading Accounting and Finance degrees at Macquarie University include:

  • Bachelor of Applied Finance
  • Bachelor of Professional Accounting
  • Master of Finance
  • Master of Accounting

Average tuition fee for international students:

  • Under­grad­uate program: AUD 39,600 per year
  • Post­grad­uate program: AUD 31,900 per year


Frequently Asked Questions (FAQs)

What is the difference between a bachelor's in Accounting and a bachelor's in Finance?

The answer is that both degrees are about accounting. However, they differ in their focus and area of study. Accounting is broad in its scope and can include areas like financial management or corporate law as well as economics. It's also commonly thought to be a first step towards becoming a CFO (Chief Financial Officer) or CIO (Chief Information Officer).

Finance has more specific prerequisites than accounting. It focuses on how money works within an organisation at an individual level—from investment management through cash flow management to human capital planning.


Which is best, accounting or finance?

This question is a little complicated. Accounting and finance are both extensive fields but have different focuses. Accounting is more general than finance, which means it's less specialised. Finance professionals tend to specialise more in their field than accountants because they need to understand the specifics of their client's businesses to provide sound advice about how best to invest their money. For example, an accountant may work on your taxes or expenses, while a finance professional will primarily focus on investments or financial planning.


Our Concluding Thoughts

Accounting and finance are two of the most popular disciplines in Australia. Consider each university's credentials and offerings while selecting the top accounting and finance school. Find out how flexible their courses are and what unique offerings they may have. This is important, especially when pursuing a program with something of a hefty pricetag. Advanced degrees typically cost thousands upon thousands of dollars, so it's important that you get value out of your money.