Occupation Introduction – Accountant （General）

Occupation Introduction – Accountant (General)

Occupation Introduction
An accountant is a professional who is responsible for keeping and interpreting financial records. There are two main types of accountants in Australia—public accountants and commercial accountants —all of which focus on different aspects of the profession.
In the position of Accountant (General), they provide services relating to compliance-based financial reporting, auditing, insolvency and accounting information systems; and advises on associated record-keeping requirements.
Registration or licensing may be required for certain services such as auditing.

Job duties:
Although the daily duties of an accountant will vary by position and organization, some of the most common tasks and responsibilities of accountants include:
•Assisting in formulating budgetary and accounting policies
•Preparing financial statements for presentation to boards of directors, management, shareholders, and governing and statutory bodies
•Conducting financial investigations, preparing reports, undertaking audits and advising on matters such as the purchase and sale of businesses, mergers, capital financing, suspected fraud, insolvency and taxation
•Examining operating costs and organisations' income and expenditure
•Providing assurance about the accuracy of information contained in financial reports and their compliance with statutory requirements
•Providing financial and taxation advice on business structures, plans and operations
•Preparing taxation returns for individuals and organisations
•Liaising with financial institutions and brokers to establish funds management arrangements
•Introducing and maintaining accounting systems, and advising on the selection and application of computer-based accounting systems
•Maintaining internal control systems
•May appraise cash flow and financial risk of capital investment projects
Additionally, accountants have a legal obligation to act honestly and avoid negligence in their practices. As such, they are also responsible for ensuring that their clients’ financial records are compliant with the relevant laws and regulations.

Employment Status:
Accountants work in diverse environments, including accounting firms, sporting organisations, retail outlets, government organisations, finance companies, banks and building societies, real estate firms, taxation consultancies and community service organisations. Accountants often work in partnership with other accountants or are self-employed.
The Facts about Accountant (General) in Australia:
•Future Growth: Moderate
•Full-Time Share: 80% Full-Time
•Average Working Hours: 43
•Weekly Pay: $1,660
•Employment by State:
oACT: 1.9%
oNSW: 38.7%
oNT: 0.5%
oQLD: 15.2%
oSA: 5.4%
oTAS: 1.2%
oVIC: 27.2%
oWA: 9.9%

Educational requirement:
Accountants analyse, report and give advice about the financial dealings of organisations and individuals, and advise on associated record-keeping and compliance requirements.
Here is the distribution of education level of accountants in Australia:
•Postgraduate/Graduate Diploma or Graduate Certificate: 24.7%
•Bachelor degree: 58.6%
•Advanced Diploma/Diploma: 7.3%
•Certificate III/IV: 2.1%
•Year 12 or below: 7.3%
Recommended Courses:
Bachelor of Commerce, Bachelor of Accounting, Master of Business Administration, Master of Profession Accounting