Worst Countries to Study Accounting and Finance in The World: The accounting and finance profession is currently one of the most demanded and promising professions in the world today.
As a result, a lot of people are venturing into studying accounting and finance at the university.
In fact, a lot of professionals in other industries have been enrolling for accounting and finance professional exams in order to swap into the profession.
However, Aside from the professional certification in the accounting and finance profession, the good promises and demands of the accounting and finance profession are also heavy in the country you studied in and reside in.
In other words, despite how appealing the profession is, these countries are a huge determinant as to whether an accounting and finance degree will be advantageous or not.
In a nutshell, the accounting and finance profession is lucrative in some countries, while it isn’t in some other countries.
I can guess the next question in your mind is “Why is it lucrative in some countries and not in other countries?”
Well, according to research, some of the common reasons why studying and practicing accounting and finance in certain countries are not advisable include;
1. Weak accounting and finance programs in most universities in the countries
2. Poor Educational facilities and accreditation
3. Government policies (that don’t support the profession)
4. Insufficiency of relevant resources useful for the profession
It is important that before you choose a country to study accounting and finance either as a first degree, master’s degree, or Ph.D it is advisable you do thorough research on educational facilities in the majority of the country’s universities, the certainty of job opportunities, adherence to the accounting and finance professional ethics, success rate of already practicing accountants and finance professionals in those countries, government support for the accounting and finance profession, world ranking of universities in the country offering accounting & finance courses and so on.
However, in this article, we will discuss the top 10 worst countries to study accounting in (in no particular order) based on the world ranking of the top universities in the country offering accounting and finance courses.
Also looking at the teaching levels in those universities, research work, their overall ranking, and their international outlook.
Top 10 Worst Countries To Study Accounting And Finance In The World 2024
1. Turkmenistan
2. Azerbaijan
3. Uzbekistan
4. Kosovo
5. Palestine
6. Jordan
7. Sri Lanka
8. Belarus
9. Cambodia
10. Armenia
Let Us look at them in full detail.
1. Turkmenistan: Turkmenistan is the first on our list of the worst countries to study accounting and finance.
Turkmenistan is one of the independent Turkic states located in the central part of Asia.
There are 17 universities in this country in total and only 6 universities of the 17 offer accounting and finance course.
These 6 universities are the International Universities of Humanities and Development, Yagshigeldi Kakayav International Oil and Gas, institute of Engineering Technical and Transport Communications of Turkmenistan, Oguz Han Engineering and Technology University of Turkmenistan, State Energy Institute of Turkmenistan, Turkmen State Institute of Economics and management.
However, most of these universities are down the list of the world ranking list of universities. One of the most recognized universities in Turkmenistan “Yagshigeldi Kakayav International Oil and Gas” has over 3,500 students.
Only 1% of that population are international students. Still, didn’t make it to the top 2000 universities in the world offering accounting and finance courses.
The chances of using a degree from the university to get a good accounting and finance job both inside the country and outside are very poor.
2. Azerbaijan: Azerbaijan is the second on our list as the worst university to study accounting and finance.
The Republic of Azerbaijan can be located at the boundary of Eastern Europe. In Azerbaijan, there are 35 public universities and 11 private universities.
According to our research team, out of all these universities, there are approximately 5 known universities that offer accounting and finance courses.
These universities are Baku State University, Azerbaijan State University of Economics, Khazar University, Nakhchivan State University, and Western Caspian University.
The Baku State University which was established in the year 1919 can be found in the 1500th+ position in the ranking of universities offering accounting as a course.
The University has over 20,000 students and less than 10% of this population are international students.
Every other university in the country is far down the list of the ranking.
3. Uzbekistan: Uzbekistan is the third worst country to study accounting and finance as a course.
The country is located in the central part of Asia.
The country has over 60 universities in the country (Including public and privately owned universities).
Over 16 known universities in the country offer accounting and finance courses but however, are not well equipped to compete in the global space.
Also, none of these universities made it to the top 2000 in the ranking list.
The most populated university in the country “Termez State University” has over 25,000 students but the university still has a poor rating compared to other universities in other countries.
4. Kosovo: Kosovo is a country located in the southeastern part of Europe. Kosovo is one of the countries in the world with the least number of universities available in the country.
According to Wikipedia, there are only 16 universities in total in the country and sadly, less than 10% of the universities offer accounting and finance courses.
One of the prominent universities in the country “UBT” has over 9,000 students with 4% of international students.
However, the ranking of this university is poor and compared to global standard still need a lot of internal work to be done.
5. Palestine: Palestine is a country located in the southern levant region of Western Asia.
The country has approximately 26 universities and very few of them offer accounting and finance courses.
Most of the universities teach the country’s official language “Arabic”.
There are 7 known universities that offer accounting and finance courses.
They are; An-Najah National University, Al-Quds University, Arab American University, Birzeit University, Islamic University of Gaza, Palestine Polythenic University, and Palestine Technical University – Kadoorie.
An-Najah National University, one of the prominent Universities has over 20,000 students.
An-Najah National University ranks better than every other university mentioned above but still needs a lot of improvement to compete in the global space.
However, every other university listed above has a very poor ranking level.
6. Jordan: Jordan is an Arab country located in the southwestern part of Asia.
Jordan has over 40 universities in the country (both publicly owned and privately owned).
Approximately 14 universities offer accounting and finance courses. Some of these known universities include The University of Jordan, Yarmouk University, Al-Balqa Applied University, Hashemite University, Al-Ahliyya Amman University, America University of Madiba, Isra University, and so on.
The highest-ranking university is The University of Jordan with a position within 600 – 800.
However, the university seems not to be known outside the country likewise their top degree holders.
Every other university listed is found down the list of the ranking table.
7. Sri Lanka: Sri Lanka can be found in the southwestern part of the Bay of Bengal.
The country has a total of 17 government-owned universities and several other educational institutions.
Only 6 known universities offer accounting and finance courses and the highest-ranked universities among them are the University of Colombo and the University of Peradeniya.
However, these universities cannot be compared to top-ranked universities in the global space.
In the ranking, they can be found in the 600 – 800th position.
Other universities offering the course like the University of Kelaniya, the University of Sir John Kotelawala Defence University, and the Sri Lanka Institute of Information Technology can be easily found down the ranking list.
8. Belarus: The Republic of Belarus can be found in the Eastern part of Europe.
Belarus has a total of 48 universities currently. A majority of these universities offer accounting and finance courses.
However, there seem to be none of them competing actively in the global space.
The majority of the universities in the country are only known in the country and not beyond.
9. Cambodia: Cambodia can be found in the southeastern part of Asia. Currently, the country has an estimated 45 universities, including government-owned and privately owned.
However, none of these universities are equipped enough to compete in the global space.
The best university in Cambodia “The Royal University of Phnom Penh” can be easily found down the list of the ranking.
Some other universities in the country include the Institute of Technology of Cambodia, The University of Cambodia, the Open Institute, and so on.
10. Armenia:
Armenia is located in the Western part of Asia with a total of 27 state-owned universities. 23 of these universities can be found in the capital city of the country “Yerevan”.
Even though some of these universities offer accounting and finance courses, they are developed enough to compete in the global space.
Conclusion
These are the 10 worst universities you shouldn’t consider when choosing a university to study accounting and finance courses in whichever level.
The majority of the ranking records were obtained from uniRanking.org and Times Higher Education.
If you have any questions, please do not hesitate to drop them in the comment section and I promise to attend to the questions.