What Is Accounting?
It’s often said that, as long as business exists, the world will need accountants. It doesn’t matter whether the economy is booming or shrinking, companies rely on skilled financial analysts and bookkeepers to keep things running smoothly.
Accountants are responsible for the financial health of a business or individual. Bookkeepers tend to manage day-to-day transactions, while accountants focus more on the big picture: overarching trends, data analysis, audits, financial statements and forecasting business needs. There’s a lot of overlap between the two professions, but these are the broad strokes.
Learning accountancy doesn’t necessarily require any previous study. You don’t need to be a maths wizard, either. Anyone can jump into accounting – all you need is a good head for numbers.
Why Work In Accounting?
There are plenty of reasons to learn accounting. For one thing, the industry is booming. Experts predict over 13% job growth by 2022. Accountancy is also a broad, practical discipline. Payroll management, profit and loss ratios and budgets are useful skills for any industry – they might even help you start your own business.
Accounting also tends to pay well, at least after a few years. Senior Accountants and Financial Advisors both average $85,000 per annum in Australia. If you work towards a specialty, like Budget Analysis, you can earn upwards of $103,000.
Here are just a few accounting careers to consider:
- Tax Accountant
- Budget Analyst
- Bookkeeper
- Management Accountant
- Auditor
- Forensic Accountant
5 Reasons To Work In Accounting
It’s easy to learn
While accounting can be complex, you don’t have to be a maths genius to pick up the basics, or upskill into a new career. . Having said that, a recognised qualification can certainly improve your career prospects.
It’s always in demand
When business is booming, companies need accountants to help them manage rapid growth. When money’s tight, they need accountants to trim sails and keep things running smoothly. Research has shown accountants are among the most in-demand positions in Australia.
It can open doors
Many students combine an accounting qualification with other degrees. You can study commerce or finance more broadly, or expand your career with a recognised CPA certification. Accountancy is sort of the bedrock of financial literacy. Its skills are applicable everywhere.
It’s a global skill
While currencies and financial institutions change around the world, the fundamentals of accounting do not. This makes accountancy an excellent option for those looking to study and work overseas. This is particularly true if you land a job at a global financial company, like PWC.
It’s a growth area
While entry-level accountants may earn between $50,000 and $60,000, there’s plenty of room to grow. Top-tier tax accountants, for example, can command $160,000 per annum in Australia. The latest government research also indicates strong future growth in the field.
Accounting Careers
Want to learn accounting? The first thing you should know is that not all accounting graduates become accountants. Accounting careers are far more diverse, interesting and flexible than simply balancing the books.
Advances in technology, like accounting software, machine learning and real-time apps, have also made the field much more stimulating: many of accounting’s traditional, tedious responsibilities are quickly being automated.
Here are just a few careers that rely on accounting skills.
- Tax Accountant | $72,000
- Auditor | $70,000
- Budget Analyst | $103,000
- Forensic Accountant | $90,000
- Investment Analyst | $94,000
- Financial Administrator | $61,000
How To Learn Accounting For Beginners
Learning accounting for beginners isn’t difficult. Anyone can pick up the basics. There are three professional accounting bodies in Australia: CPA Australia, Chartered Accountants Australia & New Zealand and the Institute of Public Accountants. Completing a recognised degree, from RMIT Online, is a stepping stone to associate membership with these three bodies.
Our learning content is purpose built for online study and our curriculum is divided into easy-to-follow units Each unit combines interactive webinars, 1-on-1 tutorials, group work and practical accounting tasks. The ultimate goal is to give you the skills you need for a career in accounting.
Here’s a taste of what you’ll need.
- Commitment. Our course content is divided into bite sized chunks, and designed to fit in around your schedule. We recommend studying a few hours every day to stay committed and on track.
- Notes. Your RMIT Online mentors will encourage you to take lots of notes. It’s a good way to flag any potential problems.
- Collaboration. As part of the course, you’ll be working with professional accountants. You’ll also have access to an online peer community.
- Knowledge. Thanks to technology, accountancy is rapidly changing. We’ll help you stay up-to-date with the latest methodologies and programs.
- Resources. There are plenty of great accounting resources out there, along with a fantastic (and very friendly) online community.
Learn About Accounting
Ready to learn accounting? This is the place to start. Read as much as you can. Ask questions. Contact one of our RMIT Online course counsellors.
RMIT Online Accounting Courses
Want to learn accounting? You’ve come to the right place. RMIT Online has a variety of accounting qualifications and accounting courses, depending on your career goals and experience. If you’re just getting started in the field, we recommend our Graduate Certificate of Commerce. It’s an industry-approved, eight month qualification.
Topics And Courses Similar To Accounting
Accounting covers the fundamentals of business and commerce, but there’s plenty more to explore. If you’d like to learn about Business Administration, Product Management or Logistics, there’s an RMIT Online course for you. Browse our catalogue below.