Accounting and finance deals mainly with the concepts of money, business and management, and how all of these individual elements can effectively work together. You will have opportunities to develop your knowledge of how financial information is understood and applied within organisations, and how it is reported internally and externally. You will be encouraged to explore the modern economy, the nature of business and how accounting and finance fit in with these. Your studies will increase your knowledge and understanding of financial and accounting information, with an emphasis on professional development.
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About Accounting and Finance
The accreditation of a degree in accounting and finance will depend on your institution. It will also be heavily influenced by the level of study you are applying for. At undergraduate level, you are likely to be awarded a Bachelor of Science (BSc), Bachelor of the Arts (BA), or in some cases a Bachelor of Accounting (BAcc). At postgraduate level, you can expect to be awarded a Master of Science (MSc), Master of the Arts (MA), or Master of Research (MRes). In some cases, an institution might offer a Master of Accounting (MAcc), which is a graduate professional degree. Further study will award you with a degree such as a Master of Philosophy (MPhil), or Doctor of Philosophy (PhD).
Some courses might be accredited by a professional body in the area. For example, certain UK universities offer degrees are approved or accredited by the Institute of Chartered Accountants in England and Wales (ICAEW), or the Association of Chartered Certified Accountants (ACCA), among others.
Generally, an undergraduate degree will take three to four years to complete, depending on where you choose to study. A postgraduate degree will normally take one to two years to complete.
Your institution may offer part-time study options, which usually means that your degree will take four to six years. You may also be able to take a foundation programme, which is useful if you do not meet the entry requirements for your degree.
Annual tuition fees for UK students are capped by the UK government. For the 2019/20 academic year, they are £9,250. This is subject to change each year, and will be updated on your institution website.
Postgraduate course annual tuition fees are set by the institution, which means that they can differ. Postgraduate programmes are generally less expensive than undergraduate programmes. You will find detailed fee information on the institution webpage.
The fees displayed below are an example of typical annual tuition fees for undergraduate and postgraduate accounting and finance degrees. Actual tuition fees can be found on the institution webpages.
Typical Annual Tuition Fees
- Undergraduate - £9,250
- Postgraduate - £8,250
An undergraduate degree will provide you with a good foundation of knowledge in the main areas of accounting and finance. You might study modules on financial reporting, economics, business accounting, statistics in business, principles of finance, microeconomics, and macroeconomics, among many others. The majority of undergraduate courses are designed to suit students who do not have a vast wealth of knowledge or experience in the subject area, as well as challenge those students who have already gained skills and expertise in the area. Your degree will be delivered through lectures and tutorials, with the potential for practical sessions. You could be presented with the opportunity to take part in a work placement year or module as part of your degree. Depending on where you choose to study, you may be able to specialise towards the end of your course. Assessment methods can include written work, group projects, and presentations, as well as a major research project in your final year.
During a postgraduate degree, such as an MSc, you will be able to build on and develop the knowledge that you gained at undergraduate level. The modules you study will be around more complex and specialist areas of accounting and finance. You will cover both the more traditional subjects, as well as exploring more contemporary areas and concepts. Modules and specialisms might include corporate finance, management accounting for decision making, asset pricing, portfolio investment and management, and international accounting practice and regulation. Assessment methods might include written work, group projects, presentations, and a major research project.
The entry requirements for an accounting and finance degree will depend on where you choose to study. It will also be influenced by the level of study for which you are applying. An undergraduate degree will require you to have a background in mathematics or further mathematics. Some universities may also accept other quantitative subjects, such as economics. If you do not have a strong background in these areas, but can show that you are passionate about accounting and finance, some institutions may still consider your application. You will be able to display this passion through your personal statement or an interview. For a postgraduate degree, most universities will require you to have an undergraduate degree in accounting, finance, or a closely related subject.
Typical Entry Requirements
- A Level Grades - AAA-AAB with an A in Mathematics
- UCAS Points - 144-136 UCAS points
- Required/Desired Subjects - Mathematics, Further Mathematics, Economics
- Degree Requirements - 2:1 or higher
- Required/Desired Subjects - Finance, Accounting, Mathematics, Business, Economics
- Other Entry Requirements - some institutions might consider relevant work experience if you do not meet the academic entry requirements
Graduates of accounting and finance will find that there are many career opportunities that are available to them. The most common destination for graduates is to work in the quantitative field. This can include jobs directly related to accounting and finance, in roles such as accounting technician, forensic accountant, investment banker, stockbroker, chartered accountant or tax adviser. Your degree will also be useful in roles such as data analyst, economist, actuary, business manager or retail banker. Alternatively, you could work as a self-employed consultant, assisting firms with their accounting and finance requirements.
Throughout your degree, you will have gained a wide range of transferable skills. These will be useful in a variety of industries. Your quantitative and analytical skills will have been challenged and developed, as well as your problem solving. Your budgeting and planning skills, and project management will also have been developed to an advanced level, preparing your for employment.