Did you ever consider studying accounting in Australia? If so, we have something significant for you to know. There are a number of streams readers can choose from in order to enhance their knowledge. Studying in Australia is a dream for every international student due to its top universities, world-class education, beautiful nature, vibrant cities, lower living expenses, and low tuition costs. There are several universities and institutes that offer professional accounting degrees including Masters of Business Accounting, Masters of Accounting, Masters of Management Accounting, and Masters of Professional Accounting. There are six universities in Australia offering degree programs in accounting on the top 100 list of the Global ranking.
WHAT IS ACCOUNTING?
Being a huge part of business world, Accountancy is basically the language of business. In a sense, it is the company's annual report that determines how well the company is doing. Businesses use accounting to conduct financial analysis in order to plan and make decisions for the future. The management of financial data of a business involves recording, analysing, summarizing, interpreting, and communicating it. Ultimately, an accounting degree makes you more efficient in solving problems, and if you're captivated by numbers, you can choose accounting as your career.
WHY CHOOSE AUSTRALIA?
Australia is an island nation with global academic recognition, a wide choice of subjects, a pleasant climate, and secure surroundings can boast much. These features could explain why many people choose Australia for their studies. With degrees accepted all over the world, the nation is one of the most pleasant and friendliest places to pursue higher education. Choosing Australia as a destination for study is a great choice because Australia has an education system that emphasizes practical knowledge. This article elaborates on the points as to why choose Australia if you are interested in pursuing accounting as a career path.
VARIOUS ACCOUTANCY COURSES TO PURSUE IN AUSTRALIA
Accountancy offers a wide range of study options. You can earn certificates, diplomas, undergraduate degrees and graduate degrees in your area of specialization.
1. Diploma in Accounting: A full-time six-month course is normally required for a diploma in accounting.
2. Bachelor of Commerce or Business: Three-year business program that lets you choose a specialization within your chosen field of study.
3. Graduate Certificate in Professional Accounting: To enrol in these six month/two trimester courses, you'll need a Bachelor's degree or five years' experience in the field.
4. Master of Commerce or Business: Once you’ve got your Bachelor’s degree, this is a full-time course for one year.
MASTERS IN ACCOUNTING
In all types of businesses, the stream is the only position that is common. A Master's degree in accounting will give you a competitive advantage on the job market, allowing you to boost your career growth and increase your chances for advancement. Approximately 84000 new jobs will be created in Australia over the coming few years at a rate of 16800 each year, which is much better than the past few years. Occasionally, AI (artificial intelligence) cannot understand the complexity of work. Artificial Intelligence and Machine Learning (ML) cannot do this on a human-like basis of making on-time decisions and synchronizing work. In a broader sense, a Master's degree in accounting opens up many avenues that can lead to greater success.
COST OF COMPLETION A MASTER’S DEGREE IN AUSTRALIA
Studying in Australia costs approximately $30000 a year on average, which is relatively low when compared to other countries, but it can also differ depending on the type of course and establishment. Living standards are high and living costs are also reasonable in Australia. Australia's education system does not place a heavy emphasis on theory but rather on practical knowledge. In addition to providing affordable, high-quality, work-relevant education, it is also one of the most liveable countries in the world. Moreover, their core values of integrity, excellence, diversity, and stability prove how capable they are in providing world-class education in a dynamic, student-centred environment.
ROLES AND RESPONSIBILITIES OF ACCOUNTANT
There are various roles and responsibilities of an accountant in which the major ones are
- Budgeting and Financial reporting
- Cost management
- Financial planning
- Handling insolvency matters
- Oversight of accounting information system
- Handling taxation issues
In addition to providing advice on how to meet financial goals, accountants are also responsible for meeting government requirements. Accounting professionals help organizations increase revenue and reduce expenses. Accounting duties include preparing a firm's financial statements, analysing operating cost income and expenditures, maintaining accuracy in financial reports, conducting audits, and providing financial guidance. It is estimated that 16,800 new accounting jobs will be added each year in the next five years, which is an impressive number. A Master's degree in accounting can be pursued after receiving a bachelor's degree.
TOP ACCOUNTING CAREERS
Some of the career opportunities that you get and think upon after completing a Master’s in Accounting are
- Chartered accountant
- Information and Technology Accountant
- Financial analyst
- Forensic Accountant
- Managerial Accountant
- Chief Financial Officer
- Stockbroking managers
- Investment analyst
- Investment advisory
- Risk management specialisation
ACCOUNTANCY SALARY EXPECTATIONS
Salary ranges depend on your level of experience, type of accounting, and where you work. It is true that there are some fields that require postgraduate study, and the higher salary expectations are a consequence of this extra education. Australian accountants earn an average of $88,000 per year. Typically, a qualified junior accountant makes $70,000, and a senior accountant makes about $109,000 annually. Auditors and forensic accountants usually earn a salary of $82,000 on average.
Contact PR Education right now for more information
Our staff is available to help you with information about courses offered, visa applications or scholarships, or about moving to Australia to study. In addition to years of experience, we have insider knowledge of how to fill out applications, and would like to help you achieve your dream of studying accountancy in Australia.