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Study Accounting in Australia (2020)

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Accounting is vital to many organisations, therefore, it is a popular career choice. If you think it’s the right choice for you, keep reading to see how you can get there. 

What is Accounting?

Let us go back to basics and understand what exactly accounting is all about. It involves recording, analysing and reporting financial transactions that take place within organisations in order to make strategic business decisions. Accountants are also responsible for the day to day tasks at the organisations to ensure compliance with financial legislation and regulations.

What skills do you need to become an Accountant?

Since accountants have a big role to play on a daily basis, there are a wide range of skills required. Nevertheless, the skills are very practical but only needs to be enhanced further.

  • Communication Skills – Strong communication with your peers and clients are extremely important if you want a successful career in the field of accounting. Most accountants work in teams, therefore, good communication must be maintained to ensure strong results.

  • Organisational skills – Since you will be managing services surrounding financial and legal matters, it is important to be organised in order to balance the demanding work. This will also help you to stay on top of things and lead a less stressful life.

  • Presentation Skills – As an accountant you may have to present all the financial reports and information to your superiors to keep them informed. Therefore, it is important to develop your presentation skills and familiarize yourself with tools such as Microsoft Excel and PowerPoint as it is a great foundation to understand formulas and data collection methods.

Types of Accounting Fields

There are various fields in accounting, however, there are 3 major fields which can be considered for any business or organization.

Fields

About

Financial Accounting 

Focuses on the process of recording, summarizing and reporting transactions as a result of business operations. The transactions include financial statements, balance sheets and cash flow statements.

Management Accounting 

Preparation of information and internal financial costs to assist superiors with their strategic decision making. This includes manufacturing costs and budgeting. 

Cost Accounting 

Recording of company’s cost spent on any services, products and processes.

To know more about studying Accounting, Please contact Excel Education. 

Entry Requirements for Accounting?

  • You are required to successfully complete SPM examination – Minimum 3 Credits [Mathematics and English*]

Upon successful completion of SPM examination, you may proceed to complete a Pre-University program : 

  • A-Level – Minimum CDD
  • STPM – Minimum 2C’s + S
  • Australian Matriculation – Minimum ATAR score of 65
  • Foundation in Business or Foundation in Arts – Minimum CGPA score of 2.5

[This program can be completed if the above examination scores have not been met]

  • Diploma in Accounting – This course takes approximately 2 years to complete. You may choose to progress to a Bachelor program starting from year 2 or join the workforce to gain work experience.

  • English Language Requirement – IELTS Score – Minimum overall score of 6.5 with no bands less than 6.0 [Bachelor degree and Master degree]

To learn more about which Pre-University program you should choose, take a look at : Which Pre-Uni should you choose? Foundation, A-Level, SAM or AUSMAT?

It is important to note that Entry Requirements to study Accounting may vary based on the University and it is essential that you successfully meet the additional university requirements.

After completing a Pre-University program, Foundation or Diploma in Accounting, you may choose to pursue a Bachelor degree. Those who wish to further enhance their skill and knowledge regarding the field may pursue a Masters of Professional Accounting. Both of these qualifications will prepare you for the CPA examination.

Important Note regarding Masters degree and CPA/ACCA
Individuals who have successfully met the requirements of the accounting bodies in previous qualifications/ first degree are not eligible to undertake a Masters of Professional Accountancy.

To know more about the entry requirements for international students, please contact Excel Education.

Best Universities to study Accounting in Australia

The following recommendations and rankings are based on QS World University Rankings by Subject

Qualification

Ranking

Intake

Indicative Annual Fee 2020

Bachelor degree

  • Australia Subject Ranking – 1

  • Global Subject Ranking – 15

February, June and September

AUD$ 44,800 – $45,600

Master of Professional Accounting

 

February, June and September

AUD$ 49,719

Qualification

Ranking

Intake

Indicative Annual Fee 2020

Bachelor of Business in Accounting

  • Australia Subject Ranking – 10

     

  • Global Subject Ranking – 51 – 100

March

AUD$ 38,060

Master of Professional Accounting

 

March

AUD$ 41,110

Qualification

Ranking

Intake

Indicative Annual Fee 2020

Bachelor of Business in Accounting 

  • Australia Subject Ranking – 12

  • Global Subject Ranking – 101 – 150

February, July and November

AUD$ 31,100

Master of Business (Professional Accounting)

 

February, July and November

AUD$ 33,100

Qualification

Ranking

Intake

Indicative Annual Fee 2020

Bachelor of Accounting 

  • Australia Subject Ranking – 19

  • Global Subject Ranking – 251 – 300

March

AUD$ 28,080

Master of Professional Accounting 

 

January

AUD$ $31,720

Qualification

Ranking

Intake

Indicative Annual Fee 2020

Bachelor of Commerce in Accounting 

No Ranking Available

February, July and November

AUD$ 28,500

Master of Professional Accounting 

No Ranking Available

February and July

AUD$ $31,500

Qualification

Ranking

Intake

Indicative Annual Fee 2020

Bachelor of Commerce in Accounting

No Ranking Available

February and July 

AUD$ 31,550

Master of Professional Accounting 

No Ranking Available

February and July

AUD$ $28,750

Qualification

Ranking

Intake

Indicative Annual Fee 2020

Bachelor of Business in Accounting 

No Ranking Available

March, July and November

AUD$ 18,000

Master of Professional Accounting 

No Ranking Available

March, July and November

AUD$ $21,600

How to become a professional Certified Accountant in Australia?

In order to be a Certified Accountant in Australia, there are certain requirements relating to the level of qualification and experience you will need to achieve. With the completion of the various undergraduate and postgraduate degrees you will be eligible to enter some of the accreditation bodies in Australia.
There are three professional accounting bodies that regulate the accounting industry in Australia :

In addition, the following are globally recognized Accounting bodies : 

To gain entry into the IPA, the minimum requirement is a Diploma of Accounting, whereas, qualifying to enter the CPA or ICAA will require a Bachelor of Accounting or similar degree, such as a Bachelor of Business in Accounting. Individuals are also required to have a minimum IELTS score of 7.0 with no band lower than 7.0 to gain entry into the CPA.

Take Note : Holders of Australian Bachelor degrees may be exempted from 9 out of 14 ACCA qualification papers.

If you are interested to know more, do not hesitate to get in touch with us.

If you are interest lies in studying in Australia, take a look at the following Articles :

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Phone:+60182414802

Email: info.my@exceleducation.com.au

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About Post Author

Yellani Rasaputhra
I am a student from Monash University, Malaysia. Currently studying Bachelor of Business and Commerce majoring in International Business and Marketing. I like to spend my time painting and swimming.

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