You may have heard that the accounting industry is facing a talent shortage. In Australia alone, there were more than 205,000 accountants in 2001. This number is expected to rise to 223,300 by 2025.
This year, however, the Australian government has prioritised accounting as an industry facing shortages amid interstate and international border closures. This has been a consequence of the ongoing COVID-19 pandemic.
This is good news for prospective accountants. The current crisis means jobs in the accounting industry are ripe, and with a Diploma of Accounting, you’ll be able to take your career to the next level.
What career pathways are available after I complete a Diploma of Accounting?
Completed your Certificate IV in Accounting and Bookkeeping? You’ll probably want to start thinking about a Diploma of Accounting as the next step.
Obtaining a Diploma of Accounting qualifies you to work in the business and finance sector, and even opens doors for further studies in higher education. The career possibilities include:
Financial Controller
With a Diploma of Accounting in your back pocket, you can become a Financial Controller, helping ensure that ledgers accurately reflect money coming in and out of a company, and proper reporting and payment to all taxing authorities.
Government Accountant
You’ll also be able to become a qualified Government Accountant, helping government departments or agencies maintain financial records, prepare reports on financial activities, and conduct financial audits or verify the accuracy of financial information.
Registered Tax Agent
A Diploma of Accounting will allow you to become a certified tax agent, assisting clients and businesses in understanding their liabilities, obligations, and entitlements under taxation law.
*For more information on becoming a tax agent, read the Tax Practitioners Board’s qualification and experience requirements.
Auditor
With a Diploma of Accounting, you’ll have the opportunity to become an auditor and analyse companies’ financial records to determine whether they are true and accurate.
Chief Financial Officer (CFO)
You can even become an organisation’s Chief Financial Officer (CFO)! As a CFO, you’ll be directly responsible for managing the financial actions of a company, including but not limited to the analysis of transactions, financial statement preparation, year-end audit tasks, budget preparation, and much, much more.
Why get a Diploma of Accounting?
A Diploma of Accounting is a specialised accounting course designed to further develop your skills, building on the Certificate IV in Accounting and Bookkeeping (or equivalent) that you’ve previously completed.
While working towards a Diploma of Accounting, you’ll learn from skilled professionals (including senior CPAs and chartered accountants), as well as registered BAS agents and bookkeepers who have a wealth of accounting knowledge.
The course will consist of a variety of modules, including financial reporting, management accounting, budgeting, financial performance, internal controls, and taxation.
What you need to earn a Diploma of Accounting
To be eligible to study for a Diploma of Accounting, prospective students need to have obtained a Certificate IV in Accounting and Bookkeeping, or an Accounting Principles Skill Set.
Students who don’t have an equal or higher-level qualification will need to complete a language, literacy, and numeracy quiz, which they can usually take online.
Otherwise, all students require is access to a working computer with Microsoft Office applications, a stable internet connection, a smartphone, and a video or web camera.
Conclusion
Students or career changers who wish to develop a career as an accountant, tax agent, or accounting team supervisor should contemplate enrolling in a Diploma of Accounting course.
The Diploma of Accounting course will give you the practical knowledge you need to take your skills to the next level, providing you with a solid accounting foundation. You’ll learn a variety of skills, including how to prepare corporate reports, manage and forecast budgets, prepare tax documentation, and analyse complex problems.
