Career as Accountant in Australia

“Future thinkers’ innovative financial leaders.”

Australia has become a charismatic destination for education seekers and employment seekers. Most of the Nepalese land in the country to pursue higher education and later search for whooping salary to settle down in the country. And many Nepalese university graduates developed their career as an Accountant in Australia. One can start their own practice as well as join as an employee in the sector which has a high demand and never phases out.

Accounting jobs in Australia curbs in the challenge of complying with accounting standards at the same time provide general service relating to compliance-based financial reporting, insolvency, auditing, accounting information systems, business advisory, transaction advisory, and more.

Though a respectable job, one needs to either have years of experience or acquire a professional certificate to get a renowned designation. 

Known as one of the most demanding jobs in Australia, the accounting position seeks a formal qualification in accounting to work as an Accountant. The minimum stated requirement for the area is diploma while to become a professional accountant; one has to acquire A Certified Public Accountant (CPA) or further take up accounting courses in their master’s degree.

Career as Accountant in Australia - NepaliPage

Types of Accounting Job in Australia

  • General Accountants
  • Managerial Accountants
  • Cost Accountants (manufacturing industries)
  • Taxation Accountants

 

Job responsibilities of an accountant in Australia

Playing with numbers by complying with the regulatory framework is not an easy task. Therefore, the responsibility one must need to fulfill as an accountant in Australia are:

  • Formulation of budgetary policies within the accounting framework.
  • Preparation of financial statements, cash flow statements for a corporate body.
  • Conduct financial investigation (audit), prepare audit reports and examine the implementation of the recommendation and advice given by the auditor.
  • Assist the entity on purchase or sale of business assets, merger and acquisitions, capital financing, insolvency and taxation, fraud detection, and system audit.
  • Allocation and usage of expense as per the budget sheet.
  • Care examination of income and operating costs.
  • Assure the information stated in the financial report and its compliance with accounting standards.
  • Offer tax planning and proper tax management service to the clients.
  • Provide business advisory, transaction advisory, and tax advisory service.
  • Prepare tax returns and file them before the due date.
  • Proper calculation of accounts payable and receivable.
  • Check adequacy in the internal control system.
  • Introduce an appropriate accounting system based on the nature and volume of business.
  • Prepare the projection and financial feasibility of the business.
  • Appraise cash flow and financial risk of capital investment projects.

Job roles for the Accounting degree holders

  • Accounting clerk
  • Chief financial officer
  • Financial consultant
  • Financial analyst
  • Insolvency Consultant
  • Insolvency Practitioner
  • System Auditor
  • Auditor

Qualifications & salary for Accountant in Australia

  • Accounting clerk – Diploma in accounting or Vocational Education and Training or an Accounting degree (graduation). The average salary of an accounting clerk in Australia is AU $75,185 per year.
  • Chief financial officer – Qualification needed is CPA or a master’s degree in finance or accounting with more than 7+ years of experience in the field of accounting. The national average salary of CFO in Australia is AU $2,00,000 per annum, with additional bonuses and perks.
  • Financial consultant- Complete an approved bachelor’s degree or higher or years of experience in Australian accounting. The annual salary of an experienced financial consultant at an average is AU $93,634.
  • Financial analyst – The qualification needed for a financial analyst is Bachelor of Accounting, a Bachelor of Business Administration, or a Bachelor of Economics. The average salary of a financial analyst in Australia holding a few years of work experience is AU$69,291.
  • Insolvency Consultant – Bachelor’s or a master’s degree and at least two subjects in the Australian Restructuring Insolvency and Turnaround Association (ARITA). The average salary of insolvency consultants in Australia is AU $90,000 per year.
  • Insolvency Practitioner – Registered as a Trustee in Bankruptcy with AFSA and be a member of Chartered Accountant Australia or CPA and hold a university degree in accounting. The average salary of an insolvency practitioner in Australia is $100,000 per annum.
  • System Auditor – Chartered Accountant (CA) or Certified Practicing Accountant (CPA) qualification. The average salary of an experienced system auditor is $72,229 per annum.
  • Auditor – Must have a valid Certified Practicing Accountants (CPA). The Average salary of an internal auditor in Australia is $100,032 per annum, while the external auditor earns the minimum amount of $59,760 per project depending on the transactions of the project.

As per the report released by joboutlook.gov.au, the graph for the accounting position inclined from 125,800 (2011) to 130,100 (2016) while the female workers (52%) are involved in the accounting position.

Writer : Pabitra Dhakal

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