Business

Master of Science in Accounting

The Master of Science in Accounting is a postgraduate programme that prepares professionals for advanced practice in financial accounting, management accounting, auditing, and corporate governance. The programme combines accounting theory with practical financial reporting and assurance application.

Core areas include financial accounting, management accounting, auditing and assurance, taxation, corporate finance, financial reporting, corporate governance, research methods, and thesis. Students engage with both accounting theory and practical case analysis through coursework and research.

The programme is offered by the University of Nairobi and Kenyatta University as public institutions, and Strathmore University as a private institution. Programmes are offered over two academic years through full-time and part-time modes of study.

Students develop competencies in financial reporting, management accounting, auditing, taxation, corporate finance, financial analysis, corporate governance, and research methods. The programme includes coursework, examinations, and a research project or thesis with specialisation options in various accounting fields.

KU charges approximately KES 246,000/year for MBA with Accounting specialisation. UoN charges approximately KES 302,500/year (KES 605,000 total) for MSc in Finance and Accounting. Strathmore University charges approximately KES 300,000/semester for Master of Commerce with accounting specialisations. Entry requires a Bachelor's degree with Second Class Honours Upper Division in accounting, finance, commerce, business, or related fields from a recognised university.

Graduates pursue careers as chief accountants, finance managers, auditors, tax consultants, financial controllers, and lecturers in accounting across accounting firms, corporations, government agencies, financial institutions, and universities.

Skills Required

Financial Reporting and IFRS Application
Management Accounting and Cost Analysis
Auditing and Assurance Services
Taxation and Tax Planning
Corporate Finance and Capital Structure
Financial Statement Analysis and Valuation
Corporate Governance and Ethics
Accounting Information Systems
Research Methods in Accounting
Academic Writing and Thesis Research

Key Subjects

Financial Reporting and IFRS Application
Management Accounting and Cost Analysis
Auditing and Assurance Services
Taxation and Tax Planning
Corporate Finance and Capital Structure
Financial Statement Analysis and Valuation
Corporate Governance and Ethics
Accounting Information Systems
Research Methods in Accounting
Thesis Research

Certifications

ICPAK CPA Certification
ACCA Certification

Specializations

Financial Accounting

Focuses on financial accounting, covering IFRS, financial reporting, consolidated accounts, fair value measurement, and managing financial accounting.

Management Accounting

Examines management accounting, covering cost analysis, budgeting, performance measurement, strategic management accounting, and managing management accounting.

Auditing and Assurance

Covers auditing and assurance, covering external audit, internal audit, risk assessment, audit evidence, and managing auditing.

Taxation

Focuses on taxation, covering income tax, corporate tax, VAT, international tax, tax planning, and managing taxation.

Forensic Accounting

Examines forensic accounting, covering fraud detection, fraud investigation, litigation support, expert witness, and managing forensic accounting.

Corporate Finance

Covers corporate finance, covering capital structure, dividend policy, mergers and acquisitions, valuation, and managing corporate finance.

Duration: 2 years
Public, up to: Ksh 302,500
Private, up to: Ksh 600,000
Job market: High

The programme

What you study, how long it takes, and how it is delivered.

Practicalities

Study mode: Full-time, Part-time
Attachment: 0 months
Average class: 25 students
Award: Masters

What you study

10 subjects

Financial Reporting and IFRS Application
Management Accounting and Cost Analysis
Auditing and Assurance Services
Taxation and Tax Planning
Corporate Finance and Capital Structure
Financial Statement Analysis and Valuation
Corporate Governance and Ethics
Accounting Information Systems
Research Methods in Accounting
Thesis Research

Modules

12 in the programme

Financial Reporting and IFRS Application
Year 1Semester 13 creditsCore
Examines IFRS standards, financial reporting, consolidated accounts, fair value measurement, revenue recognition, and managing financial accounting.
Management Accounting and Strategic Cost Analysis
Year 1Semester 13 creditsCore
Covers cost analysis, budgeting, variance analysis, performance measurement, strategic management accounting, and managing management accounting.
Research Methods in Accounting
Year 1Semester 13 creditsCore
Covers research design, data collection, analysis, ethical issues, and conducting accounting research, preparing students for their thesis.
Auditing and Assurance Services
Year 1Semester 23 creditsCore
Examines external audit, internal audit, risk assessment, audit evidence, audit reporting, and managing auditing.
Taxation and Tax Planning
Year 1Semester 23 creditsCore
Covers income tax, corporate tax, VAT, international tax, tax planning, transfer pricing, and managing taxation.
Corporate Finance and Capital Structure
Year 1Semester 23 creditsCore
Examines capital structure, cost of capital, dividend policy, mergers and acquisitions, valuation, and managing corporate finance.
Financial Statement Analysis and Valuation
Year 1Semester 23 creditsCore
Covers ratio analysis, cash flow analysis, earnings quality, financial distress prediction, business valuation, and managing financial analysis.
Corporate Governance and Ethics
Year 2Semester 13 creditsCore
Examines board structures, risk management, internal controls, ethics, sustainability reporting, and managing corporate governance.
Accounting Information Systems and Data Analytics
Year 2Semester 13 creditsCore
Covers ERP systems, internal controls, data analytics, cybersecurity, blockchain in accounting, and managing accounting systems.
Forensic Accounting and Fraud Investigation
Year 2Semester 13 creditsCore
Examines fraud detection, fraud investigation, digital forensics, litigation support, expert witness, and managing forensic accounting.
International Accounting and Financial Reporting
Year 2Semester 13 creditsCore
Covers international accounting standards, convergence, harmonisation, comparative accounting, and managing international accounting.
Research Project or Thesis
Year 2Semester 26 creditsCore
Original research project or thesis on an accounting topic, demonstrating mastery of research methods and accounting knowledge, assessed through written submission and oral defence.

Specialisations

Financial Accounting
Focuses on financial accounting, covering IFRS, financial reporting, consolidated accounts, fair value measurement, and managing financial accounting.
Management Accounting
Examines management accounting, covering cost analysis, budgeting, performance measurement, strategic management accounting, and managing management accounting.
Auditing and Assurance
Covers auditing and assurance, covering external audit, internal audit, risk assessment, audit evidence, and managing auditing.
Taxation
Focuses on taxation, covering income tax, corporate tax, VAT, international tax, tax planning, and managing taxation.
Forensic Accounting
Examines forensic accounting, covering fraud detection, fraud investigation, litigation support, expert witness, and managing forensic accounting.
Corporate Finance
Covers corporate finance, covering capital structure, dividend policy, mergers and acquisitions, valuation, and managing corporate finance.

A day as a student

A typical day during the MSc in Accounting programme combines lectures, case study workshops, seminars, and independent study. Sessions cover financial accounting, management accounting, auditing, taxation, and corporate finance. Financial accounting sessions examine IFRS standards, financial reporting, consolidated accounts, fair value measurement, revenue recognition, and managing financial accounting. Management accounting sessions cover cost analysis, budgeting, variance analysis, performance measurement, strategic management accounting, and managing management accounting. Auditing sessions cover external audit, internal audit, risk assessment, audit evidence, audit reporting, and managing auditing. Taxation sessions cover income tax, corporate tax, VAT, international tax, tax planning, transfer pricing, and managing taxation. Corporate finance sessions cover capital structure, cost of capital, dividend policy, mergers and acquisitions, valuation, and managing corporate finance. Financial statement analysis sessions cover ratio analysis, cash flow analysis, earnings quality, financial distress prediction, and managing financial analysis. Corporate governance sessions cover board structures, risk management, internal controls, ethics, sustainability reporting, and managing corporate governance. Accounting information systems sessions cover ERP systems, internal controls, data analytics, cybersecurity, and managing accounting systems. Forensic accounting sessions cover fraud detection, fraud investigation, digital forensics, litigation support, and managing forensic accounting. Research methods sessions prepare students for their thesis, covering research design, data collection, and analysis. Case study workshops provide hands-on experience with real-world accounting scenarios, financial statement preparation, audit planning, and tax computation. Seminars and discussion groups provide opportunities for debating current issues in accounting and finance. Guest lectures from experienced accountants, auditors, and finance professionals provide practical insights. The programme culminates in a research project or thesis on an accounting topic.

The trade offs

In its favour

High demand for accounting professionals with growing corporate sector, regulatory requirements, IFRS adoption, and forensic accounting needs in Kenya.
Programme offered by both public (UoN, KU) and private (Strathmore) universities, providing institutional choice.
KU offers competitive fees at approximately KES 246,000/year for MBA with Accounting specialisation.
Graduates are eligible for professional certifications including ICPAK CPA and ACCA, enhancing career prospects.

Against it

Strathmore University (private) charges significantly higher fees at approximately KES 600,000/year.
The exact programme name may vary across institutions, potentially causing confusion for prospective students.
Programme requires accounting, finance, or commerce background, which limits access for non-related graduates.
Rapidly evolving accounting standards and technology require continuous professional development beyond the programme.

What it costs

Tuition at both ends of the market, and how to pay for it.

What it costs, and where

Against 331 business courses

Public246k to 303k

246k at Kenyatta University303k at University of Nairobi

Private238k to 600k

238k at KCA University600k at Strathmore University

Annual tuition in Kenyan shillings, rounded. The upright tick is the median for this field, so a bar sitting entirely to its right is an expensive programme by the standards of its own subject.

The fine print

KU 246,000, UoN 302,500/yr verified (kenyaeducationguide). KCA, Strathmore unverified for Accounting.

HELB postgraduate loans are available for Kenyan students. KU may offer postgraduate bursaries for eligible students. Strathmore University may offer financial aid for eligible students. ICPAK and accounting firms may provide training support for accounting professionals.

Funding options

HELB Postgraduate Loan
KU Postgraduate Bursary
Strathmore Financial Aid

Scholarships

3 recorded

HELB Postgraduate Loan
LoanKsh 200,000Kenyan
Kenyan students pursuing postgraduate studies at recognised universities.
KU Postgraduate Bursary
ScholarshipKsh 100,000Kenyan
Kenyatta University offers postgraduate bursaries for eligible students.
Strathmore Financial Aid
ScholarshipKsh 200,000Kenyan
Strathmore University offers financial aid for eligible postgraduate students.

Getting in

The grades, the alternatives, and who accredits the award.

What you need

KCSE mean grade: N/A (Postgraduate)
Alternative entry: Most universities require Upper Second Class Honours in accounting, finance, commerce, or business. Lower Second Division holders with relevant work experience are considered. Strathmore University requires a Graduate Entrance Exam (GEE) in addition to academic qualifications. Contact respective universities for specific admission requirements.

How you are assessed

4 components

Coursework and Continuous Assessment
Coursework30% of the mark
Continuous assessment through coursework assignments, case studies, seminar presentations, group projects, and class participation.
Written Examinations
Examination70% of the mark
Written examinations covering financial reporting, management accounting, auditing, taxation, and corporate finance.
Case Study and Practical Assessment
Practical30% of the mark
Practical assessment through case study analysis, financial statement preparation, audit planning, tax computation, and demonstrating accounting skills.
Research Project or Thesis
Research100% of the mark
Original research project or thesis on an accounting topic, demonstrating mastery of research methods and accounting knowledge, assessed through written submission and oral defence.

Accreditation

The programme is accredited by the Commission for University Education (CUE). University of Nairobi and Kenyatta University (public) and Strathmore University (private) offer MSc in Accounting or related programmes. All programmes meet CUE standards for postgraduate training in accounting and finance. Graduates are eligible for ICPAK CPA certification and ACCA certification.

Accredited by

Commission for University Education (CUE)
Academic accreditationRequired
Programme accredited by CUE. University of Nairobi and Kenyatta University (public) and Strathmore University (private) offer MSc in Accounting or related programmes. All programmes meet CUE standards for postgraduate training in accounting and finance. Graduates are eligible for ICPAK CPA certification and ACCA certification.

Where it leads

The roles it opens, and what you leave with.

Where graduates go

6 roles

Chief Accountant
High demandKsh 200,000 to Ksh 800,000
Manages accounting operations, overseeing financial reporting, accounts management, compliance, and managing accounting.
Finance Manager
High demandKsh 180,000 to Ksh 700,000
Manages financial operations, overseeing budgeting, financial planning, analysis, reporting, and managing finance.
Auditor
High demandKsh 150,000 to Ksh 600,000
Conducts audit engagements, overseeing audit planning, fieldwork, reporting, risk assessment, and managing auditing.
Tax Consultant
Moderate demandKsh 150,000 to Ksh 600,000
Provides tax advisory services, overseeing tax planning, compliance, dispute resolution, and managing taxation.
Financial Controller
High demandKsh 200,000 to Ksh 800,000
Controls financial operations, overseeing financial reporting, internal controls, compliance, and managing financial control.
Accounting Lecturer
Moderate demandKsh 120,000 to Ksh 500,000
Teaches accounting at university or college level, overseeing instruction, research, academic supervision, and managing accounting education.

Graduate outcomes

Where these fields lead

8 careers

Tools you will learn

SAP
SoftwarePrimary
SAP ERP for accounting and financial management, covering financial accounting, controlling, reporting, and managing enterprise systems.
QuickBooks
Software
QuickBooks for small business accounting, covering bookkeeping, invoicing, payroll, financial reporting, and managing accounting.
Excel
Software
Microsoft Excel for financial analysis, covering data analysis, financial modelling, pivot tables, and managing financial data.
CaseWare
Software
CaseWare for audit and accounting, covering working papers, audit automation, financial statement preparation, and managing audit documentation.

Industry links

Common misconceptions

Accounting is just about bookkeeping.
Accounting covers comprehensive financial reporting, management accounting, auditing, taxation, corporate finance, forensic accounting, and corporate governance beyond just bookkeeping.
This programme is only for those who want to become auditors.
Accounting skills are valuable for financial management, consulting, corporate governance, entrepreneurship, academia, and regulatory roles beyond just auditing.
Accounting has limited career prospects with automation.
While routine tasks are automated, demand for strategic accounting, forensic accounting, sustainability reporting, and advisory services is growing in Kenya.
IFRS is just about accounting rules.
IFRS covers comprehensive recognition, measurement, presentation, and disclosure requirements for complex transactions including financial instruments, leases, and revenue.
Forensic accounting is just about catching fraud.
Forensic accounting covers comprehensive fraud detection, investigation, litigation support, expert testimony, digital forensics, and risk assessment.
Taxation is just about filing returns.
Taxation covers comprehensive income tax, corporate tax, VAT, international tax, transfer pricing, tax planning, and tax dispute resolution.