Ever thought of studying accounting in Australia? If yes, there is something important for you. Numerous streams help readers aware of the potential ones they were missing. Every international student aspires to study in Australia owing to its top universities, world-class education, incredible nature, vibrant cities, lower living expenses, and tuition costs.
The best universities and institutes provide 1.5 to 2 years of Master’s in Business Accounting, Master's of Accounting, Master's of Management in Accounting, and Master's of Professional Accounting. According to the top 100 list of the Global ranking, 6 universities are in Australia offer Master’s in Accounting.
Likewise, understand the chronology of different facts about why study accounting in Australia and how it is important.
What is Accounting?
Accounting is the language of business. It can be considered as a report card of the firm to help in deriving the overall performance of the company. Through accounting, businesses do the financial analysis required for future planning and decision-making. It's a combination of recording, analysing, summarising, interpreting, and communicating the financial data of a business.
In reality, an accounting study helps you to be efficient in solving problems and if you are fascinated with numbers, you can simply choose accounting as your career.
Types of Accountancy Courses Available in Australia
Australian education system offers various types of specialised Accounting Courses in Australia for different fields. Major study options that students usually select for accounting are
- Diploma in Accounting - It's a six-month course
- Bachelors of Commerce - It's a 3 years course in which you can select the preferred specialty within your stream.
- Graduate Certificate in Professional Accounting - For this, you need a bachelor's degree or five years of professional experience.
- Master of Commerce - It's a full-time course of 1 year for which you need a bachelor’s degree in Commerce.
Master's in Accounting
The stream is the sole common position required in every type of business. The demand for accountants is high in the market and if you have a Master's degree in accounting, it would be an added advantage for you in making your career grow fast and increase your chances of getting new opportunities.
In Australia it is estimated that in the coming few years approximately 84000 new job openings will arise at the rate of 16800 jobs per year which is much better than previous years. There are some complexities in work that Artificial Intelligence (AI) cannot recognise. This is based on human-like on-time decision making and synchronising the work as per the requirement that cannot be done through AI and Machine Learning (ML). From a broader perspective, a Master's in Accounting opens many pathways that bring you to greater heights.
Cost of Completion a Master's Degree in Australia
The average cost of completing studies in Australia is AU$30000 a year which is generally low as compared to other countries but it also varies according to the selection of course and institution.
In Australia, the standard of living is high and the living cost is also reasonable. Their education system is more based on practical knowledge rather than theoretical one. It is the most liveable country with high-quality work-relevant education that is offered cost-effectively. They provide a dynamic and student-centered learning environment that fosters ration thought and their core values of integrity, excellence, diversity, and stability show that how good they are in providing world-class education.
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
Accountants are also responsible for advising an organisation on how they should meet financial goals and fulfil the government statutory requirements. They also help organisations in reducing expenses and increasing revenues. An accountant has to prepare a firm's financial statement, analyse operating cost income and expenditure, maintain accuracy in financial reports, carry out audits and provide financial guidance.
You would be happy in knowing that the estimated job openings for accountants in the coming five years are 84,000 at the rate of 16,800 jobs per year. After completion of a bachelor's degree, people can apply for a Master's in Accounting.
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
Why Choose Australia?
A lot can be said about the island nation that is recognised for global academic recognition, a wide choice of subjects, nice weather, and a secure environment. This is precisely the reason why people prefer to study in Australia.
The nation is one of the most pleasant and friendly destinations for pursuing higher education with their degrees accepted over the globe. The Australian education system is more focused on practical knowledge which is the biggest advantage of choosing Australia as your study destination.
How We Can Help?
Aussizz Group came into existence in 2009. Since then it has served thousands of people in getting required visas. The group is recognised for having a team of experienced education consultants and immigration agents who have deep knowledge about immigration laws.
The experts help you to select the best university for your course with admission assistance, visa guidance, and required coaching that are necessary for PTE, IELTS. A team of counsellors provides you with career guidance and help avail scholarship programs, professional year programs, and overseas health insurance.
Feel free to contact us.