Studying Accounting in Australia or Canada as a Foreign Student

Studying accounting abroad can be a great way to broaden your horizons and hone your skills in the field. For foreign students looking for a career in accounting, Australia and Canada are two of the top destinations.

In this article, we will discuss the opportunities available for foreign students who wish to study accounting in Australia and Canada. We will explore the accounting courses offered, the eligibility requirements for admission, and the average tuition fees. Additionally, we will delve into the career prospects for accounting graduates in these countries, including the demand for accountants in the job market and the average salaries for fresh graduates. Finally, we will discuss the eligibility requirements for permanent residency for accountants and some tips for accounting students to help them succeed in their careers. 

Accounting Courses in Australia and Canada 

If you’re a foreign student looking to pursue a career in accounting, Australia and Canada are great options to consider. Both countries offer a range of accounting courses that cater to the diverse needs of students, from foundational courses to advanced programs.

1. Duration of Accounting Courses in Australia and Canada 

The duration of accounting courses in Australia and Canada varies depending on the level of the course. Typically, a bachelor’s degree in accounting takes three to four years to complete, while a master’s degree takes one to two years. However, some universities offer accelerated programs that allow students to complete their degrees in a shorter period. 

2. Average Tuition Fees for Accounting Courses in Australia and Canada 

The tuition fees for accounting courses in Australia and Canada depend on many factors, such as the level of the course, the institution, and the location. On average, the tuition fees for a bachelor’s degree in accounting in Australia range from AUD 25,000 to AUD 40,000 per year, while in Canada, the fees range from CAD 20,000 to CAD 50,000 per year. For a master’s degree in accounting in Australia, the fees range from AUD 30,000 to AUD 50,000 per year, while in Canada, the fees range from CAD 30,000 to CAD 60,000 per year. 

3. Eligibility for Admission into Accounting Courses in Australia and Canada 

To be eligible for admission into an accounting course in Australia or Canada, you must meet the minimum requirements set by the institution. Typically, you need to have completed secondary education or an equivalent and meet the English language proficiency requirement. In Australia, students need to pass the International English Language Testing System (IELTS) with an overall score of 6.5 or higher. In Canada, students need to take either IELTS or the Canadian English Language Proficiency Index Program (CELPIP). 

4. IELTS Requirements for Accounting Courses in Australia and Canada 

The IELTS requirement for accounting courses in Australia and Canada varies from institution to institution. It’s important to check the IELTS score requirement before applying to an accounting course. For example, the University of Melbourne, one of the top universities in Australia, requires an overall score of 6.5 for its Master of Accounting course, while the University of Toronto, one of the top universities in Canada, requires a minimum score of 7.0 for its Master of Management and Professional Accounting course. 

5. Admission Sessions for Accounting Courses in Australia and Canada 

Most universities in Australia and Canada have two admission sessions per year – Semester 1 and Semester 2. Semester 1 intake starts in February/March, while the Semester 2 intake starts in July/August. Some universities also offer a Summer or Winter intake, which is a shorter semester that starts in November/December or May/June, respectively. 

If you’re considering studying accounting in Australia or Canada, it’s important to research the courses available and the admission requirements and procedures. You can visit the websites of the universities that interest you to get more information on the accounting courses, the eligibility requirements, and the tuition fees.  

Career Prospects for Accountants in Australia and Canada 

When it comes to career prospects for accountants, Australia and Canada are great options for foreign students. Both countries have a strong economy and a stable job market, making them ideal for accounting graduates.

1. Average Salary of Fresh Accounting Graduates in Australia and Canada 

The average salary of fresh accounting graduates in Australia and Canada varies depending on several factors, such as the level of education, experience, and location. In Australia, the average salary for a graduate accountant is around $55,000 to $75,000 per year, while in Canada, it ranges from $50,000 to $80,000 per year. 

It’s worth noting that the salary can increase significantly with experience and additional qualifications. For example, in Australia, a certified public accountant (CPA) can earn an average salary of AUD 60,000 to AUD 110,000 per year, while a CPA in Canada can earn an average salary of CAD 45,000 to CAD 100,000 per year. 

2. Demand in the Job Market for Accountants in Australia and Canada 

The demand for accountants in the job market in Australia and Canada is high and expected to remain so in the coming years. In Australia, the job outlook for accountants is positive, with a projected growth rate of 9.2% in the next five years, according to the Australian Government’s Job Outlook website. In Canada, the demand for accountants is also high, with a projected growth rate of 5.8% in the next five years, according to the Government of Canada’s Job Bank website. 

3. Job Opportunities for Accounting Graduates in Australia and Canada 

Accounting graduates in Australia and Canada have a wide range of job opportunities available to them. Some of the common job roles for accounting graduates include: 

• Financial Accountant 
• Management Accountant 
• Tax Accountant 
• Auditor 
• Financial Analyst 
• Budget Analyst 

There are also opportunities to work in various industries, such as banking, insurance, government, and non-profit organizations. 

Permanent Residency after Studying Accounting in Australia and Canada 

If you’re a foreign student pursuing accounting courses in Australia or Canada, you may be interested in obtaining permanent residency in these countries. Permanent residency allows you to live and work in Australia or Canada indefinitely, and it can lead to citizenship after a certain period.

1. Eligibility Requirements for Permanent Residency in Accounting in Australia 

To be eligible for permanent residency in accounting in Australia, you need to meet the following requirements: 

• Have completed a degree or diploma in accounting or a related field from a recognized Australian institution. 
• Have at least two years of work experience in accounting or a related field. 
• Meet the English language proficiency requirement. 
• Score at least 65 points on the points test. 

The points test is a system used by the Australian government to assess the eligibility of skilled workers for permanent residency. Points are awarded based on factors such as age, English language proficiency, work experience, and education. You can use the points calculator on the Department of Home Affairs website to check how many points you’re eligible for. 

If you’re 25 years old, have a bachelor’s degree in accounting, have three years of work experience in accounting, and score 7.0 on the IELTS, you’ll score 75 points in the points test, which makes you eligible for permanent residency in Australia. 

2. Eligibility Requirements for Permanent Residency in Accounting in Canada 

To be eligible for permanent residency in accounting in Canada, you need to meet the following requirements: 

• Have completed a degree or diploma in accounting or a related field from a recognized Canadian institution. 
• Have at least one year of work experience in accounting or a related field. 
• Meet the English or French language proficiency requirement. 
• Score at least 67 points in the Express Entry system. 

The Express Entry system is a system used by the Canadian government to manage applications for permanent residency from skilled workers. Points are awarded based on factors such as age, education, work experience, language proficiency, and adaptability. You can use the Come to Canada tool on the Government of Canada website to check your eligibility for the Express Entry system. 

If you’re 30 years old, have a master’s degree in accounting, have two years of work experience in accounting, and score 7.5 on the IELTS, you’ll score 473 points in the Express Entry system, which makes you eligible for permanent residency in Canada. 

3. Tips for Succeeding in Your Permanent Residency Application 

1. Start early: The process of applying for permanent residency can take several months, so it’s important to start early and gather all the required documents in advance. 

2. Follow instructions: Make sure you read and follow the instructions carefully when filling out your application form. Any errors or omissions can lead to delays or even rejection. 

3. Provide evidence: You need to provide evidence to support your claims of education, work experience, language proficiency, and other factors. Make sure you provide all the required documents and that they’re authentic and verifiable. 

4. Seek professional help: If you’re unsure about any aspect of the application process, seek professional help from a registered migration agent or lawyer. They can guide you through the process and help you avoid common mistakes. 

5. Be patient: The process of obtaining permanent residency can be long and stressful, but it’s important to be patient and persistent. Keep track of your application status and follow up if necessary. 

Tips for Accounting Career in Australia and Canada 

Studying accounting in Australia and Canada can be a great way to kick-start your accounting career. However, landing a job in the field can be competitive. Therefore, it is essential to have a solid plan and strategy to set yourself apart from the competition. Below are some tips to help you succeed in your accounting career in Australia and Canada. 

1. Build a Strong Network 

Networking is crucial to building a successful accounting career in Australia and Canada. Connect with other accounting professionals, attend industry events, and join accounting associations to expand your network. A strong network can provide you with job opportunities, references, and valuable insights into the industry. 

2. Gain Work Experience 

Work experience is valuable when it comes to finding a job in accounting. Consider internships, co-op programs, or part-time work to gain practical experience in the field. This experience can help you stand out to potential employers and give you a better understanding of accounting in practice. 

3. Stay Up-to-Date with Industry Trends 

The accounting industry is constantly evolving, and it’s crucial to stay up-to-date with the latest trends and changes. Subscribe to industry publications, attend conferences, and join online forums to keep yourself informed. This knowledge can help you identify new job opportunities and improve your skills in the field. 

4. Consider Pursuing Professional Certifications 

Professional certifications can enhance your accounting career in Australia and Canada. Consider pursuing certifications such as the Chartered Professional Accountant (CPA) designation, which is recognized by employers across the country. These certifications can also help you achieve permanent residency in accounting in Australia or Canada. 

5. Develop Soft Skills 

In addition to technical skills, soft skills such as communication, teamwork, and problem-solving are crucial for success in the accounting field. Develop these skills by volunteering, participating in extracurricular activities, or taking courses in leadership and communication. 

For instance, if you’re an international student studying accounting in Canada, participating in extracurricular activities such as student clubs or volunteering can help you develop soft skills and make connections with other students and professionals in the field. 

6. Create a Strong Resume and Cover Letter 

Your resume and cover letter are your first impression with potential employers. Make sure they are well-written, error-free, and tailored to the job you’re applying for. Highlight your relevant skills and experience, and include any certifications or awards you have received. 

For example, when applying for a job in accounting in Australia, make sure to highlight your experience and education in Australian accounting standards and practices. 

7. Leverage Technology 

Technology plays an increasingly important role in the accounting industry. Stay up-to-date with the latest accounting software and tools to improve your efficiency and effectiveness in the field. Knowledge of these technologies can also help you stand out to potential employers. 

Take online courses or tutorials to learn how to use popular accounting software such as QuickBooks, Xero, or Sage. 

Related Articles:

• 12 Best Courses to Study in Australia Considering Permanent Residency
• Benefits of Professional Year for Permanent Residency in Australia
• How to Get a Permanent Residency in Australia?
• Intakes in Canada – How to Apply for Admission as International Student
• Skilled Recognized Graduate Visa (Subclass 476) 

Conclusion 

Studying accounting in Australia and Canada as a foreign student can be a lucrative opportunity. Both countries offer a range of accounting courses that cater to the diverse needs of students. Accounting graduates in these countries have excellent career prospects, with high demand for accountants in the job market and attractive salaries. Additionally, foreign students who wish to stay in Australia or Canada permanently can explore the eligibility requirements for accounting permanent residency. Overall, pursuing accounting courses in Australia and Canada can be a great way for foreign students to kick-start their accounting careers.