When it comes to fascinating employment options, a career in accounting is at the top of the list, especially for those who love math. Not only are you exposed to business operations, banking practices and other financial experiences, but you’re also able to explore high level jobs throughout the globe.
No longer are accountants simply tax gurus. Today, these professionals are found at the core of companies in all industries. They’re also working in various specialties, from corporate consulting to financial management to forensics. Accountants take positions in the private or public sector, in small businesses and large corporations. If this sounds like the ideal position for you, there are a few details you should know about accounting as a career path.
There are certain educational requirements for a career in accounting.
You must obtain a qualification in accounting from an accredited school in Australia, either at the bachelor’s level or higher. There are certain other disciplines that may qualify as the actual degree, but you should consult with a career counselor before making a decision. Keep in mind that there are different pathways to getting qualified for the career that you want.
This component of the requirements for a career in accounting typically takes about four years, though it can be accomplished in a shorter time under some circumstances. You must also enroll in and successfully complete an accredited tertiary course, which is an established requirement in around 50 nationwide campuses. You can refer to one of the nationally chartered accounting groups for more information on meeting this requirement, which takes another few years after your degree.
Candidates must also pass the proper examinations.
As discussed below, you’ll join a CPA organisation as part of your career requirements. This agency can assist you in finding out the location and dates for the CPA examinations. You may qualify to take the test even if you don’t meet the educational standard, but you must gain proper work experience or demonstrate to the organisation that you have a serious interest in pursuing a career as a CPA professional.
The CPA exam is given two times per year, and there is a processing fee that you must pay. The exam format is usually multiple-choice.
You’ll also have ongoing requirements to maintain your license.
Even after completing your education and passing the test, you have certain responsibilities as a certified accountant. You’ll have to join as a member of at least one accounting organisation, such as the National Institute of Accountants in Australia, CPA Australia or the Institute of Chartered Accountants in Australia. In addition, you must maintain a certain level of work hours in your field in order to keep your licensing current.
If you’re not a citizen of Australia, your path to a career in accounting is somewhat different.
A candidate to become a chartered accountant who is not a native of Australia must also meet educational requirements. You must have earned a bachelor’s degree, but the area of study can be other disciplines besides accounting or business. You’ll also need to meet the membership requirements of the CPA organisation of your choosing, and you should contact the appropriate officials for individual standards. The nation’s Minister for Immigration and Citizenship prefers CPA Australia, though membership here is not mandatory. As a practical matter, CPA Australia is the organisation that assesses your skills and reviews your bachelor’s degree. In general, your degree must be substantially similar to the accounting or business degrees offered by accredited institutions of higher learning in Australia.
Once you have been accepted as a chartered accountant, you will receive written confirmation of your credentials from CPA Australia. This paperwork must be submitted to the immigration officials along with your visa before you can legally practice the profession of accounting in the country.
If your application is denied by CPA Australia, you must take the proper coursework, along with examination requirements. You can then reapply for your license and engage in accounting work after obtaining the proper certification.
Now that you have an idea of what it takes to pursue a career in accounting, it’s important to start looking for the best educational program to get you started in the right direction. You’ll also benefit from developing a network of professionals who can offer advice, guidance and support as you go through the different steps on your way to becoming an accountant.
Hard work and dedication is essential, but determination will pay off down the road when you’re working at a job you love. If you’d like to hear more about the accounting programs at Kangan Institute, please check out our curriculum or contact a specialist.