Master of Professional Accounting in Australia

Accounting is regarded as one of the languages of business [alongside economics and finance]. This is understandable because every business needs to keep a record of its daily transactions to help determine its financial position at the end of an accounting period [which is usually one year]. Because of its huge importance and appealing career prospects, accounting is a very popular course of study among students worldwide.

Suppose you have already obtained a bachelor's degree and are interested in broadening your knowledge of accounting and your labour market prospects. In that case, a Master of Professional Accounting is highly recommended. And if you seek a globally recognized Master of Professional Accounting degree certificate, you should consider a university in Australia, one of the world's top study destinations. Continue reading to see why selecting Australia for your Master of Professional Accounting course is optimal. 

Master of Professional Accounting in Australia: Highlights

Below is the Master of Professional Accounting highlights of the University of New South Wales.

Program

Accounting

Course

Master of Professional Accounting

Duration of the Course

1.7 years [full-time]

Eligibility

A recognised bachelor’s degree or equivalent certification with a credit average as determined by the Postgraduate Coursework Entry Score Calculator of the UNSW. 

Students from countries where English language is not the first language will need to provide evidence of proficiency in English language before being offered admission at UNSW. You can achieve this through any of the following criteria:

  • English language tests and university English courses
  • Prior study with English language as the medium
  • Other qualifications

Entrance Exams

IELTS

TOEFL IBT

TOEFL PBT

PTE

C1 Advanced Cambridge 

C2 Proficiency Cambridge 

Tuition Fees

AUD50,200/year; AUD75,790/total course fee

Jobs

Accountant

Senior Accountant

Accounting Manager

Certified Public Accountant

Cost Accountant

Tax Accountant

Average Salary

Accountant  AUD59,786

Senior Accountant  AUD76,813

Accounting Manager  AUD90,873

Certified Public Accountant  AUD74,647

Cost Accountant   AUD71,668

Tax Accountant   AUD59,555

Why Study Master of Professional Accounting in Australia

  • Australia is a lovely, multicultural country of friendly inhabitants, an excellent education system, and a high standard of living.
  • There are 38 Australian universities ranked in the newly released 2023 QS World University Rankings. The country also features several universities in the QS World University Rankings by Subject for "Accounting & Finance."
  • You will get a complete experience in Australia because of the presence of some of the world's elite universities and most popular travel destinations.
  • Living costs and education fees in Australia are comparatively lower than in other popular study destinations such as the UK and the US.
  • Australian universities are pioneers in utilizing the latest innovations, technology, and industry trends in teaching and learning to ensure the highest educational standards.
  • Students are free to work up to 20 hours weekly and 40 hours during holiday seasons. This equips them with valuable work experience and helpful income while studying.
  • Most Australian higher institutions have international student assistance units that help foreign students in various ways.
  • Potential employers worldwide, such as business organizations and other educational institutions, recognize and appreciate degrees obtained from Australian universities.
  • The Australian government has simplified the procedures involved in student visa application and processing to ensure that Australia remains a desirable location for international students. There is a significant reduction in the time needed to process visas and the documents needed for identity confirmation.

Who Should take Master of Professional Accounting in Australia?

Any student that meets the eligibility criteria [e.g., an acceptable bachelor's degree and evidence of English language proficiency] set by Australian universities can undertake a Master of Professional Accounting course in Australia. Apart from academic requirements, the candidate must also apply for a study visa and fulfil other necessary conditions.

Master of Professional Accounting in Australia: Subjects

The following are the core subjects needed for the Master of Professional Accounting course at the University of Newcastle.

  • Financial Accounting 1
  • Financial Accounting 2
  • Financial Accounting 3
  • Management Accounting
  • Auditing and Assurance Services
  • Business Finance
  • Taxation Law
  • Economics
  • Business Decision Making
  • Business Law
  • Company Law
  • Accounting Information Systems 

TOP Universities Offering Master of Professional Accounting in Australia 

University Name

QS World Rankings [by Subject-“Accounting and Finance”

City

The University of New South Wales

20

Sydney

The University of Melbourne

21

Parkville

The University of Sydney

24

Sydney

Monash University 

=34

Melbourne

The Australian National University 

=41

Canberra 

The University of Queensland 

53

Brisbane

University of Technology Sydney 

=76

Haymarket

Macquarie University

=83

Sydney

RMIT University

=98

Melbourne

Deakin University

101-150

Burwood

Queensland University of Technology 

101-150

Brisbane

The University of Adelaide

101-150

Adelaide

The University of Western Australia 

101-150

Perth

Curtin University 

151-200

Perth

La Trobe University 

201-250

Melbourne 

The University of Newcastle

201-250

Callaghan

Cost of Studying Master of Professional Accounting in Australia

The cost of studying Master of Professional Accounting in Australia is largely determined by the varying tuition and other fees charged at each institution. Because of these fee variations, it is not easy to make a precise estimate of study costs. However, if you are a new international student travelling to Australia, try to allocate between AUD25,000 to AUD 50,000 just for tuition fees.

Tuition Fees

University Name

Course

Duration

Tuition Fees in INR

The University of New South Wales

Master of Professional Accounting 

1.7 years [full-time]

INR2727486.48/year

[AUD50,200]

The University of Melbourne

Master of Management [Accounting]

2 years full-time

INR2540148.36/year

[AUD46,752]

The University of Sydney

Master of Professional Accounting 

2 years full-time

4 years part-time [for only domestic students]

INR2852451/year

[AUD52,500]

Monash University 

Master of Professional Accounting

2 years full-time

INR2613388.44/year

[AUD48,100]

The Australian National University 

Master of Professional Accounting

1.5 year full-time

INR2464517.66/year

[AUD45,360]

The University of Queensland 

Professional Accounting [Master of Commerce]

1.5 Years

INR2458432.44/year

[AUD45,248]

University of Technology Sydney 

Master of Professional Accounting

1.5 years full-time or
3 years part-time

INR1243940.30/year

[AUD22,895]

Macquarie University

Master of Professional Accounting

1.5years full-time

INR2064631.20/year

[AUD38,000]

RMIT University

Master of Professional Accounting

2 years full-time or 1.5 years accelerated

INR2295000.58/year

[AUD42,240]

Deakin University

Master of Professional Accounting

Course duration has been grouped into 3, depending on previous qualifications and professional experience. 

1 year full-time (2 years part-time) – 8 credit points;

1.5 years full-time (3 years part-time) – 12 credit points

2 years full-time (4 years part-time) – 16 credit points

INR2140696.56/year

full-time [AUD39,400]

Queensland University of Technology 

Master of Business (Professional Accounting)

1.5 - 2 years full-time

INR1798402.44/year full-time

[AUD33,100] 

The University of Adelaide

Master of Professional Accounting

1.5 years full-time

or part-time equivalent

INR2580789/year

[AUD47,500]

The University of Western Australia 

Master of Professional Accounting

1.5 - 2 years full-time/part-time

INR4944248.40/total course fee [AUD91,000]

Curtin University 

Master of Professional Accounting

2 years full-time

INR1727770.32/year

[AUD31,800]

La Trobe University 

Master of Professional Accounting

1.5 years full-time

INR2118963.60/year

[AUD39,000]

The University of Newcastle

Master of Professional Accounting

1.5 years full-time

INR1834805.15/year

[AUD 33,770]

Cost of Living in Australia

Cost of living can differ from student to student due to a number of reasons. For example, a student who has more money to spend may have higher living costs than a less affluent student. Lifestyle is also another factor that can significantly influence cost of living. Also, living costs tend to differ from city to city. Usually, the more urbanized a city is, the higher the cost of living in that city and vice-versa. Here are some cost of living estimates calculated by the University of New South Wales.

Kind of Expenses

Amount in AUD

Shared house or flat rent

AUD250/week 

One-bedroom unit rent

AUD430/week

On-campus (college) rent

AUD375/week

Loaf of bread

AUD3

Milk (1 litre)

AUD1.50 

Can of tuna

AUD2

Deodorant

AUD5

Soap

AUD3

Apples (1kg)

AUD4

Fast food meal

AUD10

Dining out

AUD20-AUD40

Monthly gym membership 

AUD50-AUD60

Men’s haircut

AUD30

Women’s haircut

AUD60-AUD100

Master of Professional Accounting in Australia : Eligibility Criteria

Monash University has specified the following eligibility criteria for applicants interested in its Master of Professional Accounting course:

  • The faculty requires an Australian bachelor's degree or equivalent qualification with a weighted average mark (WAM) of 60 or an equivalent grade point average (GPA). Candidates that have completed the necessary discipline units in an Australian bachelor's degree (or equivalent qualification) may be eligible for credit for advanced preparatory units based on recognised prior learning (RPL)
  • IELTS [Academic]: 6.5 Overall score and minimum band scores of 6.0 in Listening, 6.0 in Reading, 6.0 in Writing, and 6.0 in Speaking
  • PTE [Academic]: 58 Overall score and minimum scores of 50 in Listening, 50 in Reading, 50 in Speaking, and 50 in Writing
  • TOEFL [iBT]: 79 Overall score and minimum scores of 13 in Reading, 12 in Listening, 18 in Speaking, and 21 in Writing
  • Any other equivalent approved English language qualifications
  • Candidates will be ranked and selected according to their entire academic records.

Exams Required to Study Master of Professional Accounting in Australia

International students from countries where English is not the language of instruction seeking to study for a Master of Professional Accounting degree at the University of Adelaide will have to sit for and obtain the required minimum scores in these exams.

Exam Name

Minimum Score

IELTS

Overall: 6.5

Reading: 6

Listening: 6

Speaking: 6

Writing: 6 

TOEFL

Overall: 79

Reading: 13

Listening: 13

Speaking: 18

Writing: 21

Pearson

Overall: 58

Reading: 50

Listening: 50

Speaking: 50

Writing: 50

C1 Advanced

Overall: 176

Reading: 169

Listening: 169

Speaking: 169

Writing: 169

Scholarships to Study Master of Professional Accounting in Australia

If you are in need of scholarship opportunities then do not worry because Australian universities award millions of dollars of scholarships [and other forms of assistance] to both international and domestic students each year. Below are a few of them.

Scholarship Name

Description

Eligibility

Amount in AUD

Australia National University College of Business & Economics International Graduate Scholarship.

Annually awarded by the College of Business & Economics of the Australia National University “to support diversity and to strengthen educational outcomes for students.”




You must:

Be a prospective international student. 

Have applied for a postgraduate coursework program at the College of Business and Economics. 

Have an excellent level of achievement in your final years of schooling as determined by the CBE academic panel.

 50% international tuition fee discount for the duration of a postgraduate coursework program at the College.

South Asia Early Acceptance Scholarship [Macquarie University].

Awarded to talented and dexterous South Asian international students about to study for a coursework degree at Macquarie University.

You must: 

Be a full-time foreign student about to commence an undergraduate or postgraduate (coursework) program on-campus (or online if impacted by COVID-19 border restrictions). 

Be a citizen of India, Bangladesh, Nepal, Pakistan, and Sri Lanka.

Not only accept your Letter of Offer but also pay the commencement fee within the acceptance deadline.

AUD10,000 annually for the duration of your bachelor's or master's coursework degree (AUD5,000 will be credited each session).

Vice-Chancellor’s International Postgraduate Coursework Scholarship [University of Technology Sydney].

Established to support high achieving new international students undertaking a postgraduate coursework program at UTS in Sydney. Awarded to international students who exhibit the university’s core values and are committed to excellence, innovation, entrepreneurship, and social justice.

You must:

Be an international student 

meet all the requirements needed for admission into the selected postgraduate coursework program by the closing date of the scholarship application [including an overall average of 90% where the pass mark is 50% or equivalent in a UTS recognised bachelor’s degree].

 

Commence full-time studies on the university’s Sydney campus. 

all applications must be made through the UTS online Scholarships Application form

not be enrolled in a UTS online degree or distance mode degree

not be under any government sponsorship

not be a beneficiary of another UTS scholarship for the duration of this Scholarship.

International tuition fees for the duration of the postgraduate course

International High Achievers Scholarship [The University of Queensland].

Awarded to high achieving students from select Asian countries.

You must:

Be an international student from India, Hong Kong (SAR), India, Indonesia, Japan, Macau (SAR), Malaysia, Philippines, South Korea, Singapore, Sri Lanka, Taiwan, Thailand, or Vietnam.

 Have achieved a competitive score as determined by the University when ranked alongside other offer holders for programs in their first or commencement semester. 

Have been offered a full-time admission to study an eligible program [includes most undergraduate and postgraduate programs (such as a master of accounting) with a few exceptions] at UQ from Semester 1 or 2, 2022. 

Have satisfied the program entry rank as well as English language proficiency conditions

not be under another UQ scholarship. 

 Not be under a full scholarship/sponsorship from another organisation (students under partial scholarships/sponsorships may be considered).

A one-off tuition fee reduction of AUD10,000 which will be divided into two AUD5,000 amounts and implemented after enrolment, before the tuition fees due date for the first two semesters of the program.

How to get Admission for Master of Professional Accounting in Australia?

  • Register With AECC Global And Discuss With An Education Counselor
  • Apply To Your Select Universities/Colleges With Help From AECC [We Have A Strong Partnership With Many Australian Universities/Colleges]
  • Sit For an English Language Proficiency Exam Such as IELTS Or Any Other Necessary Exams
  • Receive a Letter of Offer From the Institutions You Selected
  • Complete Your Tuition Fee Payment
  • Arrange & Submit Your Visa Application Documents
  • Receive Your Visa Grant Letter
  • Book Your Pre-Departure Services Through AECC Global

Career Opportunities After Master of Professional Accounting in Australia

Whether in the public or private sectors, a Master of Professional Accounting degree can open the door to many opportunities and career paths, depending on your interests, practical experience, and area of specialization. 

Some viable jobs you can engage in after your Master of Professional Accounting course are tabulated below:

Job Profile

Salary in AUD

Accountant

AUD59,786

CEO

AUD158,550

Senior Accountant 

AUD76,813

Accounting Manager

AUD90,873

Certified Public Accountant

AUD74,647

Cost Accountant

AUD71,668

Tax Accountant

AUD59,555

Chief Operating Officer

AUD160,249

Corporate Controller

AUD110,000

Forensic Accountant

AUD72,080

Finance Manager

AUD99,639

Auditor

AUD55,850

Treasury Analyst

AUD77,354

Financial Controller

AUD115,754

Chief Financial Officer

AUD156,960

Budget Analyst

AUD81,363

Lecturer

AUD96,081

TOP Recruiters

  • The Institute of Chartered Accountants of India
  • Accounting Principals
  • KPMG
  • EY
  • Deloitte
  • PwC
  • Accenture
  • JP Morgan
  • The Goldman Sachs
  • HSBC
  • Finastra
  • Citi
  • Credit Suisse
  • FIS
  • Morgan Stanley
  • First American Financial Corporation
  • Bajaj Finance

A Master of Professional Accounting helps deepen your knowledge of global accounting principles and significantly expands your horizon in the labour market, especially when the degree is obtained from any of the world-class universities in Australia. In other words, with a Master of Professional Accounting from an Australian university, you can easily find work in public and private sector organizations in any part of the world.

AECC Global takes pride in providing expert consultation and education placement advice to students planning to study in Australia. Established to help minimize the challenges faced by international students seeking high-quality education across the globe, AECC Global is one of the world's fastest-growing international education consultancies with a continuously expanding network in major cities worldwide. You, too, can become part of the growing network by registering with AECC today.

AECC Global is one of the world's leading educational consultancies with versatile expert professionals who are ready to help you with any queries you may have. Contact us so we can be of assistance to you in your journey of fulfilling your dream.


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