What is Accounting?
Accounting is the art of collecting, organising, and summarising financial data. It also involves analysing what those numbers mean, safely storing relevant paperwork, and filing legally-binding documents for taxation purposes. The average day of an accountant is usually spent working business hours in a traditional office setting and can include meeting with clients, offering advice, and preparing financial statements, through to liaising with banks and credit institutions. Accountants can manage the accounts of clients, as well as those of small and large organisations alike, and it’s for this reason that their skills are so valued, and always required.
Accounting in Australia
There are currently 200,000 workers throughout Australia in the public and private sectors; most of whom are in New South Wales (38%), Victoria (26.3%) and Queensland (15%). The average working week is 40.3 hours long and typically involve usual 9-5 pm days, with weekend and night work rarely seen. In terms of salary, the rate of pay varies according to the level of training and experience, with the average salary for accountants across Australia right now being approximately $89,646. Accountants are also among the most educated professionals in the country, with 91.8% having completed at least a diploma accounting course.
Few professions require such a specific range of skills and knowledge more than accounting, so to get far in this industry, quality training is a must. Normally, accounting jobs require a bachelor degree, though other areas such as bookkeeping or statement agents tend to have a diploma level qualification.
Regardless of whether you get trained up in your local area or invest in accounting courses online, you can count on getting the skills, knowledge and confidence you need through one of the quality accounting courses on offer.
Certificate courses provide a fast and easy way to get trained up in the basics, which makes them perfect for small business owners to those looking to pursue a professional career in accounting. These popular courses cover everything from payroll and taxation to the art of budgeting and some even meet eligibility requirements to register as a Business Activity Statement (BAS) Agent.
Certificates are also available in highly specialised areas of learning, such as the wildly popular online accounting courses in MYOB software. Online accounting software is very common nowadays, and these computer skills are vital in curating the expertise needed in this industry. A certificate in Accounting can take up to two years to complete but is perfect in leading to higher training such as a diploma or bachelor degree in accounting. Some certificates such as the Certificate IV in Accounting can lead to being recognised by the Tax Practitioners Board (TPB).
Whether you perform accounting duties in your current job and want to boost your skills, or are new to the industry and looking to advance beyond entry-level roles, studying an Advanced Diploma of Accounting is worthwhile. Here you’ll learn how to report on business performance, prepare budgets, and create professional financial statements and maintain complex accounting systems. Best of all, a diploma will get you up to speed on the latest industry tools and technologies, including cloud-based platforms.
Diplomas can take up to two years to complete and are perfect for those who have the existing experience they want to build on, as well as those entering the industry who are keen to get an in-depth understanding of what the industry has to offer. Many diplomas are available to study accounting online, which allows you to use self- paced learning to balance your studies with your existing commitments. Diploma qualifications in accounting are highly sought after, as they are recognised for their ability to provide the specialised skills and training needed to undergo the challenging and meticulous work undertaken by professionals in this field.
Those interested in a long-term career as a professional accountant should consider a bachelor degree, a need to register as a chartered accountant or a certified practising accountant in Australia. A Bachelor of Accounting can take up to four years full-time to complete and covers all aspects of providing quality financial services, from budgeting, taxation, auditing, and reporting to corporate accounting practices. Another method often used to get this qualification level in accounting is the Bachelor of Business (Accounting).
This process of choosing to major in accounting ensures that you have the business skills, as well as the specialised expertise in accounting practices to make you stand out and be seen as a vital member of any organisation. Bachelor accounting degrees are also needed to further your skills in qualifications such as a Master of Accounting, which is a highly- regarded degree in terms of the professional skills that it allows students to develop. A Bachelor of Accounting is also excellent for those who have existing qualifications or experience, as many providers enable recognition of prior learning to fast track your degree, and allow you to complete it in less time.
Career Prospects in Accounting
For as long as our society continues to operate on a monetary system there will always be a need for accountants; in fact, this vital industry is sure to grow by as much as 16% over the next 4-5 years. According to Job Outlook, there is a projected growth of 84,000 job openings over the next few years.
Is a Career in Accounting Right for You?
To enjoy a successful career in the accounting profession, you need to be extremely organised, comfortable working with numbers and have a knack for explaining complex data in very simple terms. The following skills will certainly come in handy as well
Creative problem solving
Attention to detail
Calm under pressure
Are you ready to take your money management skills to the next level this year? If so, you’ve come to the right place, because whether you are looking for in-class training or an online accounting course, you’ll find plenty of great options here at tafecourses.com.au.
Find the one that ticks all your most important boxes, sign up, and get started today?