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Accounting

What does an accountant do?

Accountants and auditors ensure that companies or organizations are efficiently operating. They do this by accessing financial records of their clients. Duties include analyzing data, finance reports, budgets, tax returns, and accounting records. An accountant reports findings to management regarding finances and sometimes may make suggestions to become more financially efficient or stable. An accountant may analyze government agency records or work for clients in areas such as compensation, data processing, health care benefits or even estate planning for taxes. Accountants and auditors may prepare reports for budgeting costs to actual costs for a company or organization. An accountants working hours vary depending on the season. For instance, the end of a fiscal year or tax time at the end of the year would require longer hours than other times, but one should expect this to be at least a 40 hour work week.

Accounting Future

Accounting’s future is bright, with a projected 10% increase in accountant and auditor employment between 2016 and 2026, according to the U.S. Bureau of Labor Statistics (BLS). Not only does the future of the accounting profession look promising, but the industry is also rapidly evolving with the rise of technology. For example, “automation, minibots, machine learning, and adaptive intelligence are becoming part of the finance team at lightning speed” at consulting firm Accenture, as noted in Forbes.

Career opportunities in Accounting

Finding a job in the accounting field is a smart decision. Accounting is a field that will always be in demand and it is a field that you can continue to grow and move up inside your company. There are so many different positions you can find in the accounting field. Careers in accounting can range from entry level positions to executive level. Accounting career information for each career path listed below can be found in full detail. Chose the accounting career you are most interested in; learn what it entails, what education you may need and the salary you can potentially earn.

1. Accountant
2. Accounting Assistant
3. Accounting Clerk
4. Accounting Manager
5. Accounts Payable Clerk
6. Accounts Receivable Clerk
7. Bookkeeping
8. Budget Analyst
9. Certified Internal Auditor
10. Chief Financial Officer - CFO
11. Comptroller/Controller
12. CPA
13. Forensic Accounting
14. Government Accounting
15. Payroll Clerk
16. Staff Accountant
17. Tax Accountant and so on

Expected Salary

Accounting salaries can vary greatly based on your position in the accounting department. You can do entry level work, such as an accounting clerk or accounting assistant, and make an average salary from $50k-$70k a year. Working your way up through the accounting department takes time and skill but as you do so your salary should increase. Moving up to accounting managers and beyond, you can easily make $100k or more a year.

Courses Available for Accounting

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.

a) Diploma in Accounting – Typically, this is a six month course full time.
b) Bachelor of Commerce or Business – These are three year courses, and allow you to pick a specialty within your range of study.
c) 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.
d) Master of Commerce or Business – Once you’ve got your Bachelors degree, this is a full time course for one year.
e) Master of Professional Accounting – Once you’ve got your Bachelors degree, this is a full time course for one year or one and half year.

Accounting Course Fees

Costs to study in Accounting 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.

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