As the world is becoming more globalized, markets are becoming increasingly dependent on international collaboration and commerce. A global perspective and intercultural understanding is, therefore, essential for accounting students who want to succeed in today’s business environment after graduation. Studying accounting abroad will be a fully immersive experience, allowing students to not only expand their academic and professional horizons, but their personal ones as well. Understanding another culture and being able to communicate effectively is the key to successfully building bridges, both within the business world and outside of it.
Why Study Accounting Abroad
Taking your accounting studies abroad will allow you to learn firsthand the inner workings of global markets and international trade. Aside from expanding your personal, academic knowledge, studying abroad also demonstrates to future graduate programs and employers that you care capable of thriving in a challenging and multicultural environment. If you are hoping to pursue an international career in accounting, or even if you are simply looking to develop your professional experience before entering the workforce, studying accounting abroad is an excellent way to become a well-rounded student and acquire a skillset applicable to today’s increasingly diverse workplace.
There are a number of countries and universities that provide accounting study abroad programs, however the following countries are particularly well-known for their competitive accounting programs.
Australia. The land down-under makes up only about 0.3 percent of the globe’s population, but it has the 12th strongest economy in the world, making it a central financial stronghold in the Pacific. Accounting study abroad program options are endless in Australia, as seven universities are ranked among the top 25 schools for accounting in the world. Australian universities tend to be quite diverse, with large populations of international students from a variety of cultural and socioeconomic backgrounds. Australia’s multinational focus and strong academic programming are only made better by the country’s position as the main trading partner for some of the largest world powers.
Australia is also one of the most sunshine-filled countries in the world, possesses a thriving sports culture, and of course, home to kangaroos. For those looking to learn from a quickly developing market, that is both economically and politically relevant to today’s current affairs (as well as exploring some of the world’s most stunning beaches), Australia is the place for you to study accounting abroad.
The Netherlands has a market-based mixed economy and, although a relatively small country, is the world’s second-largest exporter of food and agriculture and is ranked 17th in the world on the Index of Economic Freedom. Global trade and diplomacy play a large part in the Netherlands’ economy, greatly due to its overall international influence, as the Netherlands is heavily active in the EU, NATO, the International Court of Justice, and Europol. However, the Netherlands is not all business; It is also well known for its happy citizens, a product, no doubt, of the picturesque canals winding through nearly every city, a vibrant café culture, and a range of specialty cheeses. For students interested in learning from a country that has turned over large profits despite a smaller population, while also maintaining a high quality of life, the Netherlands is a great place to study accounting abroad.
Hong Kong. An autonomous territory of China, just off China’s southern border, Hong Kong has been named the third most important financial center after New York and London and is a major port trade city in the Asia-Pacific. It also has one of the most advanced and freest market economies in the world, with laissez-faire policies as well as three universities ranked in the top 30 universities in the world for the study of accounting. Hong Kong is also a melting pot of old Chinese traditions, colonial influences, and a new wave of international students and professionals alike, making for a very exciting cultural experience. Even better, Hong Kong is one of Asia’s top culinary capitals. Students who want to study accounting in one of the most powerful economic and cultural cities in the world will find Hong Kong to be one of the best options in the world.
Accounting Study Abroad Programs
The types of accounting courses that you take and the structure of your studies are entirely dependent on the accounting study abroad program you choose and the country you choose to study in.
Most individuals that study accounting abroad will do so in collaboration with a specific foreign, host university, which means students will often need some knowledge of the local language, since courses will usually be taken alongside local students. Having a basic understanding of the country’s native language will be needed to fully understand course material, as well as personally connect with fellow students and professors.
Due to the fact that today’s business market crosses almost all borders, accounting study abroad programs may focus on many of the same subjects you would find yourself studying at home, like finance and economics. The difference is that your host university will approach accounting topics from a new cultural, social, and economic point of view. For example, how Hong Kong approaches the ideas of a free market may vary greatly from how it is approached in England.
Some examples of courses you may take while studying accounting abroad include: Accounting for Corporate Structures, International Business Ethics, and Government and Nonprofit Accounting. However, each university and program will offer a unique set of course options, so just be sure to choose a few courses that you would not have the opportunity to take at home and you will surely benefit from each one greatly!
Studying accounting abroad will only enhance what you have already studied at your home university, and it will allow you to get a grasp on today’s current marketplace on a more global level. International business is one of the world’s driving forces and learning it firsthand by experiencing it will be incredibly eye-opening.
In general, studying abroad allows you to become a more well-rounded student, providing invaluable cultural experiences that can only come from taking yourself out of your comfort zone and living and learning in another country. The challenges you will face and overcome will no doubt prepare you for your future career, as well as the remainder of your accounting degree program.