Best Accounting and Finance Colleges and Universities in the World
About Accounting and Finance
Accounting and finance come under the category of FAME subjects (finance, accounting, management, and economics), which all play important roles in the business world. Although both, accounting, and finance are involved in the management of business assets, they function on distinct levels of the asset management spectrum.
Accounting is a highly specialized field that includes reporting and analyzing how money flows in and out of a company, as well as ensuring that regulations are followed to avoid financial trouble. Finance, on the other hand, is a broad study of how an organization manages its assets. In general, both fields require knowledge of finance, mathematics, statistics, and economics, where accounting decides the financial position of a company and finance decides the performance of the company.
Accounting and finance are two of the oldest and most popular professions known to mankind, therefore, one cannot go wrong with picking either one as their career path. These two careers are extremely rewarding for students who are interested in fund management.
Duties of Accounting and Finance professionals
Although accounting and finance have numerous components in common and are frequently lumped together, the professionals who work in both sectors perform different tasks. The following table summarizes the duties that fall under accounting and finance.
Duties in Accounting | Duties in Finance |
Accountants are typically employed by accounting companies, banks, and enterprises, where they prepare financial statements | Financial managers work in banks and other financial institutions and are responsible for analyzing rather than preparing financial statements |
Accountants are responsible for performing internal and financial reporting to determine the company’s financial status | They make decisions on the firm’s financial position and are frequently involved with mergers and acquisitions that benefit the company |
They collect, organize and maintain financial records of an organization and prepare risk management strategies | They analyze and interpret the financial records of the company to come up with ways to improve the overall performance of a company |
Accountants are involved in tracking revenues and expenses by performing audits | Financial managers are involved with preparing budgets and financial forecasting |
Popular degrees for pursuing a career in Accounting and Finance
It is feasible to pursue a joint accounting and finance degree at the undergraduate level in order to get a more broad understanding of both the accounting and finance professions. However, students should pursue a specialization in their subjects to develop more skills, advance professionally, and get a higher salary.
Bachelor’s programs
- Bachelor of Accountancy
- Bachelor of Arts in Finance
- Bachelor of Science in Finance
- Bachelor of Arts in Accounting
- Bachelor of Science in Accounting
- BBA in Finance
- BBA in Accounting
Master’s programs
- Master of Accounting
- Master of Science in Accounting
- Master of Finance
- Master of Science in Finance
- Master of Applied Finance
- Master of Financial Economics
- MBA in Finance
- MBA in Accounting
Specializations in Accounting and Finance
Accounting and financial professions place a high focus on the practical application of theory, which can be accomplished through specialization courses. Specializations are in high demand, as they can lead to higher-paying positions and professional advancement. A variety of specializations are offered in both accounting and finance.
Some of the most popular specializations in accounting are listed below:
- Financial accounting
- Management accounting
- Commercial finance
- Corporate finance
- Risk assessment
- Corporate treasury
- Corporate recovery
- Forensic accounting
- Internal audit
- Corporate and private tax
Finance is a huge industry with a lot of specialties for students who want to get a master’s degree in it. Students can choose from the following primary specializations:
- Personal finance
- International finance
- Corporate finance
- Investment financing
- Cashflow performance
- Financial statement analysis
Duration of programs in Accounting and Finance
Accounting and finance are two of the most prominent subjects of study that have never gone out of style and remain in demand to this day. A number of colleges around the globe provide bachelor’s, master’s, and some online courses in these subjects. The length of courses varies depending on the country and university. The following is a list of the durations of accounting and finance courses offered by some of the world’s most prestigious universities:
Country | Bachelor’s Degree | Master’s Degree | Doctoral Degree |
USA and Canada | 4 years | 1-2 years | 4-7 years |
UK | 3-4 years | 1-2 years | 4-7 years |
Australia | 3-4 years | 1-2 years | 4-7 years |
Others | 3-4 years | 1-2 years | 4-7 years |
Career opportunities in Accounting and Finance
Known as two of the renowned FAME subjects, accounting and finance offer flexible and lucrative career opportunities to those who have a keen interest in managing funds. The majority of students find decent-paying jobs in accounting and finance shortly after completing their education. Students interested in accounting and finance can work for individuals, businesses, or the government. We will cover the employment options for each field separately to acquire a better grasp of the career paths.
Career opportunities in Accounting
- Trainee, public, professional or certified accountant
- Auditor
- Bookkeeper
- Treasurer
- Tax advisor
- Credit controller
- Financial consultant
- Stockbroker
- Insurance broker
Career opportunities in Finance
- Investment banker
- Commercial banker
- Financial consultant
- Hedge fund manager
- Insurance officer
- Actuary or economist
- Stockbroker
- Payroll manager
Average salaries in Accounting and Finance
A degree in accounting and finance opens doors to many business careers. Although both jobs are regarded as high-paying in general, the opportunity to earn a higher salary is totally dependent on one’s skills and experience. The following tables summarize average salaries in the field of accounting and finance.
Country | Average Salaries in Accounting (USD*/year) |
USA | 52,452 (Source: Payscale) |
Australia | 43,861 (Source: Payscale) |
Canada | 42,042 (Source: Payscale) |
UK | 38,744 (Source: Payscale) |
Country | Average Salaries in Finance (USD*/year) |
Australia | 73,172 (Source: Payscale) |
USA | 62,774 (Source: Payscale) |
Canada | 62,663 (Source: Payscale) |
UK | 50,874 (Source: Payscale) |
*Note: All prices mentioned in the USD are for reference only. Exchange rates may vary from time to time and from country to country.
Top 50 Universities in the world for Accounting and Finance based on academic subject rankings (Shanghai/QS/THE):
The table below presents subject rankings for top accounting and finance universities around the world. The academic reputation, faculty-student ratio, international student and faculty ratio, employer reputation, and professor citations are some of the criteria used to rank these universities.
Shanghai Ranking | QS Ranking | THE Ranking | University | Country | Bachelor’s Programs | Master’s Programs |
1 | 10 | 26 | New York University | USA | Click Here | Click Here |
2 | 8 | 13 | University of Pennsylvania | USA | Click Here | Click Here |
3 | 5 | 10 | University of Chicago | USA | Click Here | Click Here |
4 | 1 | 2 | Harvard University | USA | Click Here | Click Here |
5 | 12 | 11 | Columbia University | USA | Click Here | Click Here |
6 | 2 | 4 | Stanford University | USA | Click Here | Click Here |
7 | 101-150 | 251-300 | Boston College | USA | Click Here | Click Here |
8 | 51 | 63 | University of Southern California | USA | Click Here | Click Here |
9 | 3 | 5 | Massachusetts Institute of Technology (MIT) | USA | Click Here | Click Here |
10 | 11 | Reporter | London Business School | UK | Click Here | Click Here |
11 | 16 | 18 | University of Toronto | Canada | Click Here | Click Here |
12 | 37 | 47 | The University of Texas at Austin | USA | Click Here | Click Here |
13 | 33 | 24 | Northwestern University | USA | Click Here | Click Here |
14 | 38 | 23 | Duke University | USA | Click Here | Click Here |
15 | 71 | 85 | The Ohio State University – Columbus | USA | Click Here | Click Here |
16 | 57 | 48 | University of Illinois at Urbana-Champaign | USA | Click Here | Click Here |
17 | 32 | NA | Cornell University | USA | Click Here | Click Here |
18 | 95 | 167 | Indiana University Bloomington | USA | Click Here | Click Here |
19 | 7 | 27 | London School of Economics and Political Science | UK | Click Here | Click Here |
20 | 66 | 29 | University of Washington | USA | Click Here | Click Here |
21 | 20 | 1001-1200 | The University of New South Wales | Australia | Click Here | Click Here |
22 | 85 | 52 | University of North Carolina at Chapel Hill | USA | Click Here | Click Here |
23 | 31 | 24 | University of Michigan-Ann Arbor | USA | Click Here | Click Here |
24 | 9 | NA | University of California, Berkeley | USA | Click Here | Click Here |
25 | 151-200 | 51 | Washington University in St. Louis | USA | Click Here | Click Here |
26 | 101-150 | 132 | Arizona State University | USA | Click Here | Click Here |
27 | 101-150 | 86 | University of Minnesota, Twin Cities | USA | Click Here | Click Here |
28 | 16 | 20 | University of California, Los Angeles | USA | Click Here | Click Here |
29 | 45 | 201-250 | Tilburg University | Netherlands | Click Here | Click Here |
30 | 49 | NA | Singapore Management University | Singapore | Click Here | Click Here |
31 | 68 | NA | Stockholm School of Economics | Sweden | Click Here | Click Here |
32 | 19 | NA | HEC Paris | France | Click Here | Click Here |
33 | 38 | 72 | Erasmus University Rotterdam | Netherlands | Click Here | Click Here |
34 | 151-200 | 183 | University of Notre Dame | USA | Click Here | Click Here |
35 | 27 | 30 | The University of Hong Kong | Hong Kong | Click Here | Click Here |
36 | 21 | 33 | The University of Melbourne | Australia | Click Here | Click Here |
37 | 22 | 46 | Nanyang Technological University | Singapore | Click Here | Click Here |
38 | 25 | 66 | The Hong Kong University of Science and Technology | Hong Kong | Click Here | Click Here |
39 | 40 | 49 | The Chinese University of Hong Kong | Hong Kong | Click Here | Click Here |
40 | 15 | NA | Bocconi University | Italy | Click Here | Click Here |
41 | 14 | 9 | Yale University | USA | Click Here | Click Here |
42 | 62 | 201-250 | Copenhagen Business School | Denmark | Click Here | Click Here |
43 | 4 | 1 | University of Oxford | UK | Click Here | Click Here |
44 | 65 | 351-400 | City, University of London | UK | Click Here | Click Here |
45 | 251-300 | 401-500 | Georgia State University | USA | Click Here | Click Here |
46 | 101-150 | 93 | University of Maryland, College Park | USA | Click Here | Click Here |
47 | 251-300 | 251-300 | University of Utah | USA | Click Here | Click Here |
48 | 151-200 | 351-400 | The University of Georgia | USA | Click Here | Click Here |
49 | 68 | 151 | City University of Hong Kong | Hong Kong | Click Here | Click Here |
50 | 76 | 119 | Pennsylvania State University – University Park | USA | Click Here | Click Here |
Top universities in the USA for Accounting and Finance
When it comes to studying accounting and finance abroad, the USA is without a doubt the first choice of international students. The average salary for undergraduates in the field of accounting in the USA is 57,511 USD/year, whereas graduates get paid a starting salary of around 69,605 USD/year. Finance undergraduates in the USA get paid 58,464 USD/year and finance graduates get paid 74,201 USD/year, as per the Payscale rankings. The following is a list of top accounting and finance universities to study in the USA. It also contains a list of the bachelor’s programs in accounting and finance and master’s accounting and finance programs offered by universities in the USA.
*Note: All prices mentioned in the USD are for reference only. Exchange rates may vary from time to time and from country to country.
Shanghai Ranking | QS Ranking | THE Ranking | University | Country | Bachelor’s Programs | Master’s Programs |
1 | 10 | 26 | New York University | USA | Click Here | Click Here |
2 | 8 | 13 | University of Pennsylvania | USA | Click Here | Click Here |
3 | 5 | 10 | University of Chicago | USA | Click Here | Click Here |
4 | 1 | 2 | Harvard University | USA | Click Here | Click Here |
5 | 12 | 11 | Columbia University | USA | Click Here | Click Here |
Top universities in the UK for Accounting and Finance
Accounting and finance degrees are highly valuable in the UK because of its strong financial industry and growing demand for qualified employees. As per Salaryexplorer, UK salaries in accounting and finance range from 38,515 to 1,91,276 USD/year. Several universities in the UK offer undergraduate courses in accounting and finance as well as graduate courses in accounting and finance. Below is a list of top accounting and finance universities to study in the UK.
*Note: All prices mentioned in the USD are for reference only. Exchange rates may vary from time to time and from country to country.
Shanghai Ranking | QS Ranking | THE Ranking | University | Country | Bachelor’s Programs | Master’s Programs |
10 | 11 | Reporter | London Business School | UK | Click Here | Click Here |
19 | 7 | 27 | London School of Economics and Political Science | UK | Click Here | Click Here |
43 | 4 | 1 | University of Oxford | UK | Click Here | Click Here |
44 | 65 | 351-400 | City, University of London | UK | Click Here | Click Here |
Top universities in Hong Kong for Accounting and Finance
Accounting and finance are well-established sectors in Hong Kong, which ranks first on the list of international financial centers. As a result, interested students should consider studying in Hong Kong as a great option for accounting and finance. The following is a list of top accounting and finance universities in Hong Kong.
Shanghai Ranking | QS Ranking | THE Ranking | University | Country | Bachelor’s Programs | Master’s Programs |
35 | 27 | 30 | The University of Hong Kong | Hong Kong | Click Here | Click Here |
38 | 25 | 66 | The Hong Kong University of Science and Technology | Hong Kong | Click Here | Click Here |
39 | 40 | 49 | The Chinese University of Hong Kong | Hong Kong | Click Here | Click Here |
49 | 68 | 151 | City University of Hong Kong | Hong Kong | Click Here | Click Here |
Top universities in Australia for Accounting and Finance
Job security and well-paying salaries are the two factors behind the high demand for accounting and finance courses in Australia. Universities in Australia are known for offering a wide variety of bachelor’s courses in accounting and finance. Even the master’s level programs in Australia offer huge specialization in the accounting and financial sectors. Here is a list of the top accounting and finance universities to study in Australia.
Shanghai Ranking | QS Ranking | THE Ranking | University | Country | Bachelor’s Programs | Master’s Programs |
21 | 20 | 1001-1200 | The University of New South Wales | Australia | Click Here | Click Here |
36 | 21 | 33 | The University of Melbourne | Australia | Click Here | Click Here |
Top universities in the Netherlands for Accounting and Finance
Tuition fees are heavily subsidized by the Dutch government, making the Netherlands an affordable option than studying in other Europen countries. The accounting and finance courses, especially the master’s courses in accounting and finance offered by the universities in the Netherlands are highly renowned. Below are the top two accounting and finance universities to study in the Netherlands.
Shanghai Ranking | QS Ranking | THE Ranking | University | Country | Bachelor’s Programs | Master’s Programs |
29 | 45 | 201-250 | Tilburg University | Netherlands | Click Here | Click Here |
33 | 38 | 72 | Erasmus University Rotterdam | Netherlands | Click Here | Click Here |
Top universities in Singapore for Accounting and Finance
Singapore is the banking and financial hub of Southeast Asia and is also one of the world’s major centers of finance. Its economy is highly regulated by the government and rarely suffers from market swings. Accounting and finance are therefore the best courses to study in Singapore. Here is a list of popular universities in Singapore offering bachelor’s and master’s courses in accounting and finance.
Shanghai Ranking | QS Ranking | THE Ranking | University | Country | Bachelor’s Programs | Master’s Programs |
30 | 49 | NA | Singapore Management University | Singapore | Click Here | Click Here |
37 | 22 | 46 | Nanyang Technological University | Singapore | Click Here | Click Here |
Academic requirements for studying Accounting Finance
Admission to top universities for economics, finance, accounting, and business management is highly competitive as they are in great demand in this decade. Simply meeting the admissions standards isn’t enough to secure a spot at one of the top business schools. Students must have a solid profile and should have achieved high scores in competitive examinations such as the SAT, ACT, GMAT, and others. The following are some general academic requirements laid down by the best accounting and finance schools in the world:
Bachelor’s level
- A high school education with a 3.0 GPA or above and math as a compulsory subject
- Academic transcripts
- SAT and/or ACT scores (varies from university to university)
- Personal statement
- Letter of recommendation
- Valid passport
- English proficiency test scores such as TOEFL (90 and above) or IELTS (6.0 and above)
Master’s level
- A bachelor’s degree in accounting, finance or relevant field (knowledge of maths and statistics is a must) with a GPA of 3.0 or higher
- Academic transcripts
- GMAT, MCAT and/or GRE scores (varies from university to university)
- Personal statement
- Letters of recommendation
- Valid passport
- Resume
- Work experience (preferable)
- English proficiency test scores such as TOEFL (90 and above) or IELTS (6.0 and above)