How To Study Accounting & Finance: Reasons To Choose This Path

If you want to pursue a finance career or a management position, then focusing on subjects like accounting and finance will create many opportunities for you. These subjects will equip you with the knowledge to easily handle tasks like money management, investment evaluation and financial structures. Multiple MNCs and conglomerates are always open to roping in candidates who have mastery of subjects like accounting and finance.

Top Universities for Accounting and Finance in UK

For anyone who wants to focus on studying accounting and finance and make a career out of it, there is no better place than the top universities in the UK. Upon graduating from these Universities, you will not only get exposure but you will also be given directions on how to pursue your career. Let us have a look at some of the top universities in the UK: 

• London School of Economics (LSE)
• University of Oxford
• University of Cambridge
• University of Warwick
• University of Manchester

Why Study Accounting and Finance in UK?

The UK is considered one of the best places to receive education on degrees related to finance and accounting. Being a country with one of the best education systems in the world, globally recognized, and having connections with many industries, the UK provides numerous opportunities for those who want to establish a career in the finance domain.

High-Quality Education

The UK is well respected for its standard education, particularly when it comes to accounting and finance programs. Graduates can receive numerous advantages when studying at the UK’s top universities like Oxford, Cambridge, and LSE. By enrolling in these reputed universities, you can access the best materials, distinguished professors, and researchers’ works.

Strong Industry Connections

The UK universities have good relations with multiple industry leaders and organizations. Several of the accounting and finance programs offered by UK universities include internships, work placement, and connections to other reputable financial institutions. These connections can be very useful if you are searching for employment opportunities.

Global Recognition

Degrees from UK universities are acknowledged all over the globe. Subsequently, no matter where you have your dream job (in the UK or anywhere else in the world), a finance degree from a UK university will pave the way into major financial hubs such as London, New York, and Singapore. This international recognition can also help you stand out in the job market.

Career Opportunities

The financial sector in the UK has a reputation throughout the world, and there are ample job opportunities available. If you are pursuing an accounting and finance degree, you can easily into the banking, auditing, investment, and corporate finance industry.

Top Universities for Accounting and Finance in UK

If you are aiming to study accounting or finance degree, then you should apply to the top universities in the UK. These institutions offer quality academic programs and placement opportunities to provide their graduates with the best start for their careers.

1. London School of Economics and Political Science (LSE)

LSE is one of the top universities in London, which is extremely popular for providing the best social science courses in the United Kingdom. It also has one of the most successful accounting and finance programs. Students graduating from LSE can benefit from the strong connection the institute has with most of the leading financial organizations.

2. University of Bath

The University of Bath is one of the most prestigious universities in the UK. The accounting and finance program offered by this university is very useful to anyone who would prefer to join the workforce as soon as they complete their graduation. The university is well known for its innovative approaches as well as the high number of placements it offers to the students. 

3. University of Warwick

The University of Warwick is based in Coventry. The accounting and finance program offered by this university also includes technical skills in auditing and financial reporting with a special focus on research.

4. University of Glasgow

Established in 1451, the University of Glasgow remains one of Scotland’s oldest institutions. This university specializes in offering accounting and finance theory classes with strong practical programs. The University of Glasgow also has a strong alumni association along with robust connections with different companies, which help the university offer internship and placement opportunities to its students. 

5. Queen’s University Belfast

Queen’s University Belfast has a special accounting and finance program, and most of its courses are introduced to prepare students for professional certifications. Located in Belfast, the university coursework focuses on preparing students to excel in the financial sector by offering them practical experience.

Admission Requirements for Accounting and Finance in UK

If you want to pursue a finance or accounting degree in the UK then you have to individually look into the admission process and criteria of the Universities. However, there are some common requirements which include: 

• A-levels or Equivalent: You need to be A level in multiple essential subjects such as mathematics, economics, business studies, etc. In case you are an international student you can qualify for the courses if you have a degree like International Baccalaureate or their equivalent. 
• English Language Proficiency: If you are a non-native English speaker, then you will have to prove your English language proficiency through tests like IELTS and TOEFL. Foreign. If you are preparing for IELTS, the minimum accepted IELTS score is 6.5 (or more, depending on the university).
• Personal Statement: In addition to the basic requirements, the applicants are required to produce a personal statement concerning the program of their choice, accounting/finance, along with their relevant experience /skills.
• Letters of Recommendation: Recommendations from teachers or other professionals are usually necessary because they build credibility for the individual’s academic performance and speak for their character.

Undergraduate Courses

UK undergraduate accounting and finance programs offer a robust foundation to the students who are preparing for their careers in finance. Most of these programs include both theoretical and practical knowledge in areas such as finance, accounting, and business. More importantly, internships or placements are also integrated into the coursework.

Core courses typically include:

• Financial Accounting: This course deals with the process of creating financial statements, accounts balance sheets, profit and loss accounts, and the principles of accounting standards.
• Management Accounting: It educates students about the way that money is used within a company, how expenses are distributed, controlled, and analyzed to improve organizational performance, and how decisions are made within an organization's financial system.
• Corporate Finance: Includes capital structure, risk management, and investment management. It helps students to prepare for corporate financial planning and analysis.
• Economics: The course offered at this level gives the students a good knowledge of the micro and macroeconomic theories that help the students understand the forces that shape the world economy along with the financial markets.
• Taxation: Familiarizes students with tax systems and legislation, corporate tax, personal tax, etc.
• Business Law: Gives a clue to the legal systems governing the operations of finance, transactions, contracts, and corporate governance.

Graduate Courses

Master’s degree in accounting and finance in the UK is highly specialized and comprehensive to fulfill the needs of graduates. These courses offer advanced knowledge in financial management, accounting, and the global markets. Such programs generally take one to two years and include an option of specialization during the elective terms or projects.

Here are some core and elective courses generally offered in these programs:

• Advanced Financial Accounting: The topics of this course are consolidated accounts, cross-border acquisition and production, international accounting standards, and forensic accounting.
• Corporate Finance and Risk Management: This particular subject covers corporate financial decisions, risk assessment, portfolio management, and approaches to managing financial risks.
• Financial Modelling: This is a practical course that prepares students for constructing models that are frequently used in valuation, budget, etc., in investment banking or corporate finance positions.
• Strategic Management Accounting: This subject is related to the application of accounting in planning, decision-making, and evaluation of business management for the long term.
• International Finance: It provides an extensive understanding of the world economy, cross rates, foreign investment, and global financial policies that affect multinational businesses.
• Auditing and Assurance: In this course, processes of auditing rules and regulations and ethical issues concerning accounting are discussed to achieve the highest accuracy and transparency of the financial statements.

Job Opportunities

There are various career opportunities for individuals who have completed their degrees in accounting and finance. Anyone graduating from top universities in the UK in accounting and finance can easily land a job in various companies and firms. 

Let us check out some of the popular accounting degree and finance degree you can pursue after graduating from top universities in the UK:

• Financial Analyst: A financial analyst is responsible for analyzing financial data, and they also help the companies make important financial decisions depending on their financial result. As a financial analyst, you can take a job in multiple sectors, including as an investment banker, asset management company, corporations, etc. 
• Chartered Accountant: Chartered Account is a high-profile role. A chartered account is responsible for managing taxation, audits, maintaining financial records, ensuring tax complaints, and more.
• Tax Consultant: As a tax consultant, you will be responsible for offering services related to tax management, compliance, planning, etc. Individuals and businesses use the services of tax consultants to optimize and minimize their tax liability.
• Auditor: Auditors are responsible for evaluating the financial statements of companies and individuals. They also ensure that their clients obey their legal obligations.

Conclusion

Pursuing an accounting degree or finance degree from the top universities of the UK can open up a plethora of opportunities for your career. The education you will receive from these universities will give you a robust foundation for your career in finance and accounting. In addition to high quality education, you will also be able to take advantage of industry connections. So, what’s holding you back? Invest in yourself and your future today. 

Frequently Asked Questions

Why should I study accounting and finance?

Studying accounting and finance has many career benefits. Students who opt for this course can have a lot of positions in various companies. The course has many branches as well which will help students to learn the skills of accounting and finance. Also, the course is one of them which has global recognition. This means that the students who are into this course can have a lot of scope in the professional field.

What skills do I need to succeed in accounting and finance studies?

There are a few skills that are needed to succeed in accounting and finance studies: great mathematical skills, critical thinking skills which will help in making the right decision in the professional arena, management skills, and a few more. All of these will help in succeeding in the accounting and finance field.

What career opportunities are available for accounting and finance graduates?

There are many career opportunities which are available for the accounting and finance graduates. They are accounts, auditors, face analysts, chartered accountants, financiers, etc.

How can I prepare for an accounting and finance degree program?

In the path of preparing for an accounting and finance degree there are some steps that can be followed:

• A level in the various subjects that can be mathematics, accounts, finance, and other calculative subjects.
• Language proficiency in English which is associated with the test based on IELTS. This is majorly for the international students.
• Personal statements which are about the information associated with the choice of program
• A letter of recommendation especially from teachers or other professionals is usually necessary because it builds credibility for the individual’s academic performance and speaks for their character.  

Is a degree in accounting and finance worth it?

Yes, a degree in accounting and finance is worth it. This is because it has a great financial scope. Also, almost all the organizations have places for accountants and finance professionals in order to manage the finances of the company. Followed by this, proper decisions can be taken. So, there is a huge scope of students who pursue accounting and finance studies.