Accounting Career Pathway
Accountants plan and provide accounting systems and services relating to financial dealings for both companies and individuals. They also advise on associated record-keeping and compliance requests.1
What does an accountant do?
Accountants assist in the formulation of budgets and accounting policies. They prepare financial statements for presentation to board of directors, management, shareholders and statutory bodies. In addition to these tasks, they may conduct financial investigations and undertake audits.
They prepare reports, and advise on the sale of businesses, mergers and capital funding. Other areas of accounting include investigating suspected fraud. Accountants can work across all types of business, depending on their area of expertise, and they could also be a small business accountant, or a corporate accountant. Accountants will also examine operating costs and the income and expenditure of institutions, and provide assurance about the accuracy of information contained in financial reports and their compliance with statutory requirements. A career in accounting is varied; accountants can provide financial and taxation advice on business structures, plans and operations. They provide financial and taxation advice on business structures, plans and operations.
1 Australian Standard Classification of Occupations (ASCO) 2nd Edition, ABS Catalogue No. 1220.0, p131.
Career outlook at a glance
41
Median age of the Australian accountant (in years)
201,100
Accounting workforce in Australia
$1,841
Median weekly earnings in Australia
Source: Jobs and Skills Australia. 2023.
Where do Accountants work?
Accountants work in offices and during Monday to Friday business hours, however after hours work often increases during tax time. 82% of accountants work on a full-time basis.
According to the ABS Labour Force Survey, the average weekly hours worked is 43 hours.
How much do Accountants earn?
The average annual salary for accountants in Australia is $94,963, in addition to this - the amount for bonuses depends on the organisation they work for and their experience level.
As an accountant gains further competencies and progresses through their career, their earning potential generally increases.
Specialisations
There are a range of specialisations within accounting.
- Financial analyst
- Insolvency Practitioner
- Taxation Agent
Related job titles
- Finance Manager
- Accounting Clerk
- Auditor and Company Secretary
- Payroll Clerk
SCU Online courses
Here's a list of SCU's accounting-related postgraduate courses:
- Master of Business Administration (Specialisation in Accounting)
- Graduate Diploma in Business
- Graduate Certificate in Business
What education do you need?
Accountants will need a Bachelor degree in accounting or similar or higher qualification, or at least five years of relevant experience. Sometimes, both a formal qualification and experience is required. Employers highly regard prospective employees who have been accredited by the Institute of Public Accountants, (IPA), CPA Australia (CPA) or the Institute of Chartered Accountants of Australia (ICAA).
