What does an accountant do?
An accountant’s job is to manage the finances of a business or individual and to ensure tax and financial compliance with laws. Then from this, you create reports that give business owners the knowledge and information that allows them to make educated decisions about their business.
There are many different types of accountants, and once you’ve got your qualifications and start working, you’ll be able to specialise. International tax, company management, forensic accounting or SME accounting. Every business needs an accountant, and an accounting degree is always in demand.
Accounting now and in the future
There is rapid change in the industry, and any accountant must be on board in order to help their clients reap rewards. With the increased ability to work online and trade overseas, accountants need to be familiar with international tax and trading laws. How can a company leverage a multi-country operation to get the best financial benefits?
Technology is another huge change, with cloud accounting making SME’s largely self- managing. But alongside that, artificial intelligence needs to be harnessed to provide clients insights into their finances.
Of course, there is also ongoing regulatory and tax compliance, both within the country the business operates in, and globally throughout the Association of Chartered Certified Accountants.
Career opportunities
There are a huge range of roles within the accounting industry. You can choose to work in an accountancy firm, where you’ll likely specialise in a certain type of business, trust or scenario. You might find your niche in tax specialisation, which is a fast-paced and highly technical role.
Consider the following roles:
- Chartered accountant
- External auditor
- Forensic accountant
- Stockbroker
- Chief Financial Officer
- Tax accountant
- Actuary
- Business development manager
- Data analyst
- Economist
- Management consultant
- Banker
You may prefer to work in-house for a large organisation as their CFO (Chief Financial Officer). This gives you the ability to deep-dive into one company’s accounts, understanding how the micro affects the macro, and making day-to-day decisions that make a difference you’ll see in the bottom line.
There are auditor and compliance roles, where highly technical understanding of legislation allows you to ensure other companies are fully compliant. This requires attention to detail and the ability to quickly understand a business.
There are also advisory roles, usually when you’ve been in the industry for a while. You’ll understand what business do, how they grow, and can advise as such.
Accountancy also helps to develop into other roles too. Think about banking, stockbroking, financial advisors and management consultants- the possibilities are endless. An accounting degree provides a solid financial understanding that can take you anywhere.
In accountancy, the employment prospects are high and there is great job security
Accounting course fees in Australia
Costs to study in Australia vary depending on the education provider. For a year of study towards an undergraduate degree, the average cost is AU$30,000 a year. The costs range from $20,000 to $40,000 depending on the provider and where they are based. If you would prefer a course rather than a full degree, the prices range depending on the length of course.
There are scholarships available for International students. These can be partial or full tuition, for example a 25% reduction in tuition fees or a full fee, airfare, board and health scholarship. These can be found through the individual institutions or various government schemes. Contact IDP Education to find out if they can help you identify the best scholarship options for you.
Accountancy salary expectations
Salaries vary according to seniority, the kind of accounting, and where you work. Some fields require post graduate study and this extra education results in higher salary expectations.
The average salary for an accountant in Australia is $88,000. A qualified junior starts at $70,000, and a senior accountant makes around $109,000 annual. The average salary for a forensic accountant or auditor is around $82,000.
Types of accountancy courses you can do in Australia
There are a wide variety of study options for accountancy. From certificates in your area of speciality, through diplomas, undergraduate degrees and post-graduate study.
- Diploma in Accounting – Typically, this is a six month course full time.
- Bachelor of Commerce or Business – These are three year courses, and allow you to pick a specialty within your range of study.
- Graduate Certificate in Professional Accounting – You’ll need a Bachelors degree or five years experience in the field to be accepted into this six month/ two trimester course.
- Master of Commerce or Business – Once you’ve got your Bachelors degree, this is a full time course for one year.
Contact ACEM today to find out more
If you want advice about courses offered, assistance with visa applications or information about fees, scholarships or moving to Australia to study, please contact us today. We’ve got years of experience, inside-track knowledge to help with applications, and want to help your dream of studying accountancy in Australia become a reality.