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How to Become an Accountant

(3 courses)

What do I need to study to become an Accountant?

Build vital accounting skills and become a certified bookkeeper with this Certificate IV in Accounting and Bookkeeping (FNS40217) from Monarch Institute.

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Take the next step in your accounting career with this online Diploma of Accounting (FNS50217) from Monarch Institute and achieve your goals.

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Take your human resources skills to the next level and deepen your understanding of business administration with The Advanced Diploma of Management (Human Resources) (BSB60915) and Diploma of Business Administration (BSB50415) online dual diploma from LET Training.

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Definition of Accountant

Accountants assess and describe the financial health of a company, organisation or individual using numbers, financial statements and their skills and knowledge of maths, law and taxation.

They can be employed by an accounting firm, a large business with it’s own accounting division or may set up their own practice and work for individuals, helping them with financial decisions, tax returns and other money related concerns.



Working within a company an Accountant monitors and records the movement of money, analysing profits and losses to provide the information needed to evaluate the financial state of the organisation. They are also responsible for performing functions such as audits, tax returns and statement analysis as well as verifying the accuracy of of all monetary transactions to ensure their legality and compliance with current guidelines.

What are the responsibilities of an Accountant ?

  • Formulating budgeting and accounting policies.
  • Carrying out financial investigations, audits and profit and loss analyses
  • Liaising with brokers and financial institutes in order to provide funds management plans.
  • Preparing tax returns for companies, organisations and/or individuals.
  • Monitoring operating costs, income and expenditure.
  • Presenting financial statements and reports regarding taxation, sale of business, capital financing, suspected fraud, insolvency and financial risk assessment.
  • Maintaining accounting books and advising on application of accounting systems and software.
  • Providing tax and financial advice relating to business plans, structures and operations.
  • Ensuring financial and taxation compliance with statutory requirements and governing bodies.

Career Outlook for Accountant

The average age of people working as is 38 with 51.80% of them being male. 80.60% of are employed full-time and they typically work around 39.6 hours per week.

 

Unemployment is below average and, with A Bachelor Degree or higher, the average Community Worker can earn around $1,400 per week Before Tax. In 2015 there were 188,100 working and the future growth of the profession is predicted to be strong, with numbers around 219,300 in 2020.