The Accounting Industry: What it’s like.


The Accounting Industry

There’s been talk that the accounting industry might be declining thanks to technological advancements. But this is simply not true. Accounting has too many complexities and intricacies for a machine. Most individuals and every company in every industry needs an accountant.

There are many different types of accountants, and many different area to work in. Some examples include – accounts administrators, reconciliation clerks, accounts payable, accounts receivable, bookkeepers and SMSF administrators.

Then there are accountants who work in accounting practices. These accountants have roles  such as – auditing (who examine company’s financial statements), management accounting, taxation advising or business services. Business services accountants work across all areas of accounting consulting to small business and individuals.

Some accountants are consultants, who help businesses with their decision making, or in specialist tax areas, like film production. Other accounting roles include forensic accounting – which involves fraud prevention and detection; cost accountants, project accountants, as well as analysts.

There are unique areas like environmental accounting, which involves analysing the environmental impacts of business such as the financial damage from ecological disasters.

Do you have a particular interest in an area outside of accounting?  You could combine your passion with work as an accountant within areas – such as a sports or music company. There are also industry specialisations, such as SMSF accountants and Real Estate Trust Accountants.

What Do Accountants Do?

The accounting industry is diverse. Accountants prepare reports, analyse, and assess on many various financial or tax items, which yes, does include tax returns. They also interpret and apply regulation, as well as keep up with ever-changing legislation. A good accountant is adaptable, diligent, committed and detail-orientated. Some accounting positions can be stressful, with tight deadlines. Mostly, accountants also need to be affable, as they work with people.

From our CEO – What do you like most about the accounting industry?

The most interesting thing about the accounting industry is the people you meet. Definitely, its the people, you meet new clients and catch up with old clients. You learn about their life, their family, their business, their investments, their goals and objectives.

Then it’s the problem solving. How can I help this person meet their goals and objectives, how can I help them save on their taxes, is their business tracking well?

Knowing that you can’t please everyone all of the time is important. Knowing that you are helping your clients and getting positive feedback is the ultimate goal for any accountant.

To move up in the accounting ranks;

You can begin an accounting career with a Certificate IV in Accounting and develop the skills and knowledge to move ahead. With a Certificate IV in Accounting your career will commence with jobs such as an accounts clerk, payroll clerk, accounts clerk, bookkeeper or assistant accountant.

Starting with a Certificate IV in Accounting is also a great way to springboard into university with a little prior knowledge. There are many professional associations in Australia including the Australian Bookkeepers Network, Association of Accounting Technicians, and the National Tax and Accountants’ Association.

If you would like to find out more about our Certificate IV in Accounting phone us on 1300 228 338 or complete the contact form and one of our staff will respond to you as soon as possible.

 

Leave a Reply

Your email address will not be published. Required fields are marked *