Accountant

Banking Finance Insurance

Menu

Management Accountant
Tax Consultant/Agent

Related Jobs or Working with these Jobs

 

 

Clerical or OrganisingAnalytic or ScientificSkill Level 4Skill Level 5

Accountants analyse, report and give advice on the operations and affairs of businesses and individuals.    FutureGrowthModerate

Accountants work for a variety of organisations, from families, retail outlets, banks and accounting firms, to rock bands or sporting organisations. They may work on their own or with other accountants.
 

Accountants assist organisations, individuals and businesses by analysing and reporting on financial matters. Their duties might include providing advice on a company's efficiency after examining its running costs and profit margins, helping individual clients with their tax returns and lodgements, or conducting audits and investigations into businesses dealing with differing scenarios (such as bankruptcy, mergers, sales or acquisitions).

ANZSCO ID & description: 221111: Plans and provides systems and services related to the financial dealings of organisations and individuals, and advises on associated record-keeping and compliance requirements (registration or licensing is required).

Alternative names:
Finance Manager

Specialisations:

Budget Accountant: A budget accountant primarily concerned with the development and maintenance of budgeting systems. This involves monitoring budgets and comparing them with actual costs and revenues. They analyse records to determine trends, which assists in managerial control.

Bursar: A bursar responsible for the accounting and general business operation of schools or tertiary institutions. This may include fundraising.

Cost Accountant: A cost accountant develops and directs systems so that costs can be recorded and analysed to work out each unit cost. This involves analysing changes that affect production costs (e.g. raw materials, manufacturing methods, factory overheads and wages). They provide management with reports to assist in decision-making about production volumes, sale prices and additions or deletions to product lines and/or manufacturing or distribution resources.

Financial Analyst

Forensic Accountant: A forensic accountant analyses and prepares accounting documents for use as evidence, often for a court of law.

Insolvency Practitioner

Investment Analyst: An investment analyst evaluates the value of companies for potential buyers and investors, and investigates businesses being sold, bought or merged. Liquidator

Liquidator and Receiver: A liquidator and receiver assists and advises businesses in financial difficulties, organises company closures in line with legal requirements and, in the case of bankruptcies, sells assets.

Systems Accountant: A systems accountant analyses financial information needs for organisations by reviewing existing systems and working out the best way to meet those needs.

Taxation Consultant/Taxation Agent: A taxation consultant/taxation agent prepares taxation returns and reports, provides advice on tax issues and handles disputes with taxation authorities. Tax Agent

Treasurer: A treasurer plans short- and long-term finance and advises on the financial consequences. They design and manage investment portfolios to minimise financial risk
.

Knowledge, skills and attributes Accountant with calculator

An accountant needs:

  • strong communication skills

  • good presentation skills

  • able to build rapport with clients

  • good organisational skills

  • good mathematical ability

  • problem-solving skills

  • to be professional, ethical, responsible and discretion when dealing with confidential information

  • good attention to detail

  • able to work as part of a team.

Duties and Tasks

Accountants may perform the following tasks:

  • assist in the formulation of budgetary and accounting policies

  • prepare financial statements for presentation to boards of directors, management, shareholders and statutory bodies

  • conduct financial investigations, undertake audits, prepare reports and advise on such matters as the purchase and sale of businesses, mergers, financing, suspected fraud, insolvency and taxation

  • examine the income and expenditure of institutions

  • provide assurance about the accuracy of information contained in financial reports and their compliance with statutory requirements

  • provide financial and taxation advice on business structures, plans and operations

  • liaise with bankers and brokers to establish funds management arrangements

  • advise on the selection and application of computer-based accounting systems

  • appraise cash flow and financial risk of investment projects.

Working conditions

Although accountants work primarily in an office environment during business hours, during busier periods or when dealing with a financial crisis they may need to work much later hours in order to successfully manage complex situations and procedures.

Accountants may work on their own or with other accountants. Accountants in private practice have a high level of public contact. Some positions involve travel, which is often interstate or overseas.

Tools and technologies

Accountants work mainly with computerised financial software and programs so it is important that they remain up-to-date with this type of technology. Calculations, statistics and monetary figures are significant to accountants so spreadsheets and databases are used on a daily basis to help organise and store important information. Accountants also need to keep up-to-date with Australian tax laws, as even minor changes may be of significant impact to a client.

Education and training/entrance requirements

To become an accountant, you usually need to complete a bachelor degree majoring in accounting.
The qualifications required to become an accountant depend on the type of accountant you want to be.  

 

Did You Know?

John Grisham, famous mystery novelist, received his undergraduate degree in accounting from Mississippi State University.


John Grisham


Luca Pacioli wrote the first book on double entry accounting in 1494. He is frequently referred to as the father of accounting. Paciolo is still a hot commodity today. His portrait was featured in the movie The Spanish Prisoner.

Luca Pacioli
Portrait of Luca Pacioli, traditionally attributed to Jacopo de' Barbari, 1495
(Source: Fun Facts and Famous Accountants)

Management Accountant
Banking Finance Insurance

Clerical or OrganisingSkill Level 4Skill Level 5

 

Management accountants work internally in a business and record and analyse the financial accounts of the company for which they work. Management Accountants provide services relating to performance-based financial reporting, asset valuation, budgetary systems, cost management, pricing, forecasting and the strategic governance of organisations. Future Growth Strong

ANZSCO ID: 221112

Alternative names: Cost Accountant

Specialisations: Carbon Accountant, Product Accountant

Knowledge, skills and attributes   

To become a management accountant, you would need:

  • the ability to interpret figures and information
  • excellent maths and IT skills
  • strong analytical and problem-solving ability
  • a high degree of accuracy and attention to detail
  • good spoken and written communication skills
  • good organisational and time management skills  

Overview
(Source: Wikipedia)

Duties and Tasks

As a management accountant, you would:

  • prepare all of the financial statements for the company
  • manage budgets, and undertake annual forecasting and budget planning
  • make recommendations for cost reductions and savings
  • monitor the company's financial performance
  • recommend ways to reduce costs and increase profits
  • undertake or oversee internal auditing
  • assists in formulating budgetary and accounting policies
  • prepares financial statements for presentation to boards of directors, management, shareholders, and governing and statutory bodies
  • conducts financial investigations, prepares reports, undertaking audits and advises on matters such as the purchase and sale of businesses, mergers, capital financing, suspected fraud, insolvency and taxation
  • examines operating costs and organisations' income and expenditure
  • provides assurance about the accuracy of information contained in financial reports and their compliance with statutory requirements
  • prepare the business accounts for external audit
  • oversee the company's payroll and bookkeeping systems

 

Management Accountant
(Source: Strategic Finance)

Working conditions

Management accountants generally work normal office hours, Monday to Friday, with occasional overtime to meet deadlines at busy times. Part-time work may be possible.

You would usually be based in an office environment, and spend most of your time sitting at, and using a computer. You would spend a portion of time in meetings with the accounting team and management.

Tools and technologies

Education and training/entrance requirements

You would become a management accountant by completing a diploma or degree in accounting, or a related field such as business or commerce with a major in accounting. To get into these courses you usually need to gain your senior secondary school certificate or equivalent. English and mathematics would be appropriate subjects to study prior to university.

Graduates of approved courses may qualify for membership or entry to the membership programs offered by Chartered Accountants Australia and New Zealand, CPA Australia or the Institute of Public Accountants. Eligibility for membership varies and may require work experience and/or further study.

Qualified and registered Accountants can specialise as Management Accountants by completing a Certificate of Business Accounting through the Charted Institute of Management Accountants.

Employment Opportunities

Employment of accountants is projected to grow strongly over the next 3-5 years. Employment growth is expected to be closely tied to the health of the overall economy.

There has been an increased focus on accounting and financial compliance in response to stricter laws and regulations, particularly in the financial sector. The continued globalisation of business should lead to increased demand for accounting expertise and services in areas such as international trade and international mergers and acquisitions.

 

Tax Consultant/Agent
Banking Finance Insurance

Clerical or OrganisingSkill Level 5

Tax consultants help individual or business with tax advice, tax returns and lodgements, and planning their finances. Future Growth StrongTaxation Accountants analyse, report and provide advice on taxation issues to organisations or individuals, prepare taxation returns and reports, and handle disputes with taxation authorities. 

ANZSCO ID: 221113

Alternative names: Taxation Accountant, Tax Agent,

Knowledge, skills and attributes       

To become a tax consultant, you would need:

  • the ability to interpret figures and information
  • excellent maths and IT skills
  • strong analytical and problem-solving ability
  • a high degree of accuracy and attention to detail
  • good spoken and written communication skills
  • good organisational and time management skills

Tax Consultant
(Source: Anthony Syndicate)

Duties and Tasks

  • meet clients and discuss their financial situation
  • gather information and data needed to complete tax returns
  • use specialised accounting software to fill in, check and lodge tax returns
  • explain tax laws and regulations to clients
  • advise clients on tax planning so they don't overpay tax
  • examines operating costs and organisations' income and expenditure.
  • provides assurance about the accuracy of information contained in financial reports and their compliance with statutory requirements
  • provides financial and taxation advice on business structures, plans and operations
  • prepares taxation returns for individuals and organisations
  • liaises with financial institutions and brokers to establish funds management arrangements
  • introduces and maintains accounting systems, and advises on the selection and application of computer-based accounting systems
  • maintains internal control systems
  • may appraise cash flow and financial risk of capital investment projects.
  • negotiate with the Australian Taxation Office on your client’s behalf
  • keep up to date with tax laws and regulations
  • provide other accountancy services in some instances.

Working conditions

In a full-time role, you would typically work standard office hours, Monday to Friday, with possible overtime at busy periods, such as the end of the tax year.

You might work for an accounting firm, a firm of specialist tax agents, or be self-employed. You would be office-based but may spend time travelling to clients for meetings and audits. A current driver's licence may be needed.

Tools and technologies

Education and training/entrance requirements

Tax agents are usually qualified accountants. You would become an accountant by completing a diploma or degree in accounting, or a related field such as business or commerce with a major in accounting. To get into these courses you usually need to gain your senior secondary school certificate or equivalent. English and mathematics would be appropriate subjects to study prior to tertiary study or university.

In some instances, tax agents are qualified lawyers with the appropriate qualifications to be certified to practise law in Australia.

Tax agents need to be registered with the federal Tax Practitioners Board. Individual applicants must satisfy certain qualifications and experience requirements, which are set out in the Tax Agent Services Regulations 2009.

Employment Opportunities

Employment of tax agents is expected to remain neutral or decline slightly in the next 3-5 years.

For corporate organisations there has been an increased focus on accounting and financial compliance in response to stricter laws and regulations. Additionally, the continued globalisation of business should lead to increased demand for accounting expertise and services as they relate to tax matters.

For personal tax and small businesses there is an increasing number of sotwares available to use in place of a tax consultant. In Australia the Australian Tax Office has launched an online system for people to self-complete their tax forms.

 

Accountant

Bank Officer

Actuary

Auditor

Insurance Agent

Valuer

Accounts Clerk

Bookkeeper

Insurance Consultant

Insurance Claims Investigator

Bank Officer

Actuary

Auditor

Accountant

Insurance Agent

Valuer

Accounts Clerk

Bookkeeper

Insurance Consultant

Insurance Claims Investigator

Bank Officer

Actuary

Auditor

Accountant

Insurance Agent

Valuer

Accounts Clerk

Bookkeeper

Insurance Consultant

Insurance Claims Investigator

Bank Officer

Actuary

Auditor

Insurance Agent

Valuer

Accounts Clerk

Bookkeeper

Insurance Consultant

Insurance Claims Investigator

Bank Officer

Actuary

Auditor

Accountant

Insurance Agent

Valuer

Accounts Clerk

Bookkeeper

Insurance Consultant

Insurance Claims Investigator

Bank Officer

Actuary

Auditor

Accountant

Insurance Agent

Valuer

Accounts Clerk

Bookkeeper

Insurance Consultant

Insurance Claims Investigator

Bank Officer

Actuary

Auditor

Accountant

Insurance Agent

Valuer

Accounts Clerk

Bookkeeper

Insurance Consultant

Insurance Claims Investigator