Accounting
What to expect
Getting a degree in accounting
What to expect
Most jokes about accountants put boring number-crunchers in grey suits. But while accountants do have to be accurate with numbers and in the advice they give when doing tax returns or trying to work out how a business is going, the accounting profession has well and truly outgrown this bean counting image.
These days in accounting, there is less labour intensiveness at the number-crunching end, and more room for accountants to have an impact on business strategy and management.
So much for the bad press — or so accountants were hoping. With accountants now the glue in the all-important ‘accountability’ framework, some have come off as the bad guys in recent, high profile corporate scandals. However, for aspiring professionals, this controversy only puts into perspective the reasons for the fairly exhaustive requirements of professional recognition.
In response to a shortage of skilled workers, many accounting firms have introduced cadetships for school leavers where students work for the company part time while completing their degree. Some universities have also begun offering accelerated degrees or adding an industry-based learning component in later years.
A new degree structure, which has already been established in some fields at selected institutions, has potential to become more common in the future. The structure follows a US-style model where undergraduates enter a general 'pre-accounting' degree such as business or commerce, and then transfer to a postgraduate qualification in accounting.
Getting a degree in accounting
Visit the University Ratings section for accounting course ratings.
Courses and specialisations
In Australia, to become a member of the main professional accounting associations (details below), you will need to go through a program that begins with an approved accounting major in an accredited university course, followed by further study and mentored practical experience.
There are many accounting courses to choose from. Studying accounting does not necessarily mean doing a course with accounting in the title. You might undertake a degree in business, commerce or economics with an accounting specialisation or a double degree pairing accounting with law, information systems, or even arts.
You will also be required to complete accounting subjects in core areas. Details about which courses are accredited, and which subjects are required can be found on the accounting association websites (see below). However, most of the time, because they are accredited by these organisations, accounting specialisations are probably much the same wherever you do them. You might find the odd ‘co-op’ course, which includes work experience while you study.
Getting in
Overall, there is a big range of cut-offs so you will not find it too difficult to get into an accounting degree. However, as always, there is a great deal of variation between different courses and campuses. Competition for co-op courses, for example, is very high. Some accounting courses also specify prerequisites, such as maths.
Where to study
Accounting degrees are widely available at universities and selected private higher education providers throughout the country; some are even available by distance.
What to look for
Remember that if you want to qualify as an accountant, you will need to make sure that your degree is accredited by the relevant professional association(s).
Careers for accounting degree graduates
Accountants can work in any industry or sector, and can choose between large firms, smaller private accounting practices, government or non-profit organisations, schools, arts organisations — you name it.
In short, accounting covers many different workplaces, roles and specialisations (taxation, foreign exchange, cost and management accounting, auditing and insolvency, and business consultancy among them).
Graduate employment rates increased slightly in 2011, with 76 per cent of 2010 graduates in full-time employment shortly after graduation. The prospects for accounting graduates were a little higher, with almost 80 per cent finding full-time work. The average starting salary for graduates was $47,000, compared to $50,000 on average across all fields of study. Around 8 per cent of 2010 accounting graduates went onto further study before seeking full-time employment.
For more information
For more information check out the CPA Australia website or find out more about the Institute of Chartered Accountants in Australia or the Institute of Public Accountants .
Other fields of study likely to appeal to someone interested in accounting include business and management
and economics
.
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