Accountants analyse, report and give advice
on the operations and affairs of businesses and individuals.
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.
Investment Analyst:An investment analyst evaluates the value of companies for potential buyers
and investors, and investigates businesses being sold, bought or merged.
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.
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
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.
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.
A chartered accountant is a financial
professional with technical and specialised knowledge of accounting. They
can work in almost every sector from financial services and banking to the
health care and industrial sector, where they may perform accounting duties
and make strategic decisions that can drive business.
Chartered accountants are fully qualified accountants that take on a broad
and important role. In a nutshell, they analyse and provide information
about financial records, with focus areas including financial reporting,
taxation, corporate finance, business recovery, and insolvency. They will
also often be responsible for auditing accounts and giving financial advice
that may be acted upon by the recipient to save money or increase
profitability.
Chartered accountants can work in a range of organisations and it’s even
possible to work across sectors, in public practice and industry as well as
the not-for-profit and public sectors.
ANZSCO ID: 221112
Knowledge, skills and attributes
Self-motivation: A
career in accountancy may not be rewarding straight away. Studying for
exams, alongside working, can prove difficult – so self-motivation and
commitment are both must-have skills for hopeful chartered accountants.
Organisation: Whilst
studying, you’ll need organisation to adequately manage your time
between working in accounting and studying for your exams. Once
qualified, you’ll need it to manage your workload between clients or
projects.
Computing: Computer
software plays a large role in the accountant’s workday. Whether it’s
balancing budgets in Microsoft Excel, using a database to update client
information, or using third party invoicing software, all accountants
must be confident in using computers.
Problem solving:
Accountants are responsible for balancing books and providing advice to
clients. In some cases, this might mean doing research to ensure that
problems are solved and averted properly. Using initiative, you should
be able to resolve issues proactively in a way that is beneficial for
each specific client.
Numeracy: As an
accountant, you’ll work with numbers day in, day out. Accountants should
have strong numeracy skills and understand how to analyse data
efficiently.
Teamwork and leadership:
As with any other office-based role, accountants should work well
both independently and as part of a team. Having leadership capabilities
Liaising with clients, individuals, and businesses
Analysing risk
Advising on tax planning
Maintaining accounting records and preparing accounts
information
Counselling clients on areas of financial improvement
Managing junior colleagues
Liaising with auditors (internal or external)
Producing reports and recommendations following the
audits
Preparing financial statements and monthly and annual
accounts
Negotiating terms with suppliers
Invoicing
Working conditions
You will work in an office for 40 hours a
week except during the busy periods of the financial year. You might have
travel depending on your clients. You will be expected to keep up to date
with the latest ever-changing tax laws and certification requirements.
Education and training/entrance requirements
To begin this career, consider completing a bachelor of
accounting or bachelor of commerce or business with a major in accounting
and finance at an accredited university. Individuals who wish to enrol in a
chartered accountant program may apply for provisional memberships.
To become a Chartered Accountant and a member of the
Institute of Chartered Accountants Australia, accounting professionals need
to complete the Chartered Accountants Program. The program includes both a
study component (Graduate Diploma of Chartered Accounting) and a minimum
three years of practical experience, mentored by a Chartered Accountant.
Employment Opportunities
When you become a chartered accountant, you can gain a
competitive edge over general accountants. Your qualifications can be
internationally recognised, meaning you can work anywhere around the world.
With your qualification, you can also choose to specialise in a particular
area of accounting. Later on, you can also transition into roles such as a
chief financial officer or a financial controller.
Forensic accountants are highly skilled
in analysing and preparing financial information for a court of law. It's a
field that requires a combination of accounting, auditing and investigative
skills.
Accountants in this field of work will typically be engaged to review
financial records and information in a post-acquisition dispute, economic
damages, calculations bankruptcy and computer forensics.
Business valuations, insolvency and fraud issues can also typically require
the skills of a forensic accountant. Forensic accountants
specialise in uncovering undeclared assets, tracing funds and explaining
financial situations. They may also provide clarity and act as a witness in
circumstances such as court cases, criminal investigations, insurance fraud
and the misappropriation of funds.
Forensic accountants
may provide assistance for the following:
Divorce
cases: searching for hidden assets to determine a fair settlement
Civil
lawsuits: providing evidence for breach of contracts
Business
acquisitions: mediating company acquisition disagreements
Vehicle
accidents: assessing the economic damages arising from vehicle
accident insurance claims
Medical
insurance claims: evaluating medical malpractice claims
Commercial
valuations: providing financial clarity for business valuation
disputes
Trade
patents or branding: investigating patent or trademark
infringements
Business
agreements: establishing economic outcomes of a non-compete
agreement or breach of non-disclosure
Business
purchases: determining warranty breaches
While not all cases may lead to formal
litigation, Forensic Accountants are required to produce information to a
standard that would be suitable for use in a court of law.
The standards related this field are set by the Accounting Professional and
Ethical Standards Board (APESB).
Alternative names:
Investigative Auditor, Fraud Investigator, Forensic Auditor,
Specialisations:You can specialise in a particular field as a forensic
accountant. After working as a forensic auditor for a few years, you can
choose to specialise and grow your expertise in a specific field, such as
private investigator training, business audits and valuations or bankruptcy
and insolvency.
Knowledge, skills and attributes
A forensic accountant examines and
explains intricate business and financial transactions. A forensic
accountant usually has an inquisitive, curious mind with strong analytical
and financial skills and an ability to interpret data beyond the figures on
the page.
Critical thinking skills:
Detecting fraudulent activity involves evaluating information with a
critical mind to make connections that lead to evidence. Critical
thinking involves gathering information through observation, reasoning
and auditing processes that highlight any discrepancies.
Communication skills:
Forensic accountants require strong verbal and written skills to present
their findings in business environments or courts. Communicating complex
financial reports with precision, clarity and simplicity is an important
part of working as a forensic accountant.
Analytical skills:
Analytical skills are important for interviewing people and reviewing
documentation. Analysing information accurately is important for
determining the type of financial crime committed.
Interviewing skills: Part of investigating potentially fraudulent
activity frequently involves interviewing people. The ability to make
people feel at ease may help a forensic accountant get the information
they want.
Attention to detail:
Detecting financial irregularities and slight discrepancies take a keen
ability to note fine details. Meticulously documenting investigation
steps and findings also requires attention to detail.
Problem-solving skills:
Forensic accountants may use their problem-solving skills to adapt an
investigation as new information becomes available. Evaluating potential
scenarios to determine which is consistent with the evidence is often
part of their problem-solving ability.
A forensic accountant makes use of
accounting, auditing and investigative skills and software to examine
suspicious financial activity. Determining whether a crime has taken place
is outside of a forensic accountant's scope. Their responsibility is to
analyse all available information and present it in a way that a company or
the judicial system can accurately assess and pass judgment. A forensic
accountant's work product typically meets the standards suited for
presentation in a court of law, even if the situation doesn't escalate to
that point.
assessing damages and losses
tracking and tracing funds
identifying and recovering assets
researching and documenting findings, this may
include a due diligence review
testifying in court cases as an expert witness
and presenting evidence to juries and judges
preparing visual aids to support trial evidence
conducting financial audits
gathering and analysing data for litigation
assisting in alternative dispute resolutions
staying current on the financial services
industry, financial markets and legal changes
mediating and assisting with third-party
negotiations
Forensic accountants may work for law
enforcement agencies, government departments, independent adjustment firms,
insurance companies, banks and businesses of all sizes. Large accounting
firms may have a dedicated forensic accounting department. Some businesses
exist to provide forensic financial investigation services.
As an investigative accountant, you may work on-site to conduct forensic
analysis. You may also work as part of a team that includes other forensic
auditors, detectives, private investigators and business stakeholders. You
may appear in court to explain your findings if your work is part of the
evidence presented in a case.
Tools and technologies
Since forensic accountants are both
accountants and investigators, they use tools applicable to both. These
include bookkeeping and accounting software, computer forensic tools like
data-mining applications, and statistical principles like Benford’s Law.
Forensic accounant positions typically ask for a bachelor's degree in
accounting, finance or forensic accounting. Students who aim to be forensic
accountants may take classes in subjects which include the following:
finance
auditing
criminology
investigating, detecting and documenting fraud
fraud prevention and ethics
interview techniques
computer investigation
bankruptcy
electronic data analysis
business, intellectual and individual property
damages and calculations
mergers and acquisitions
family law and divorce engagements
financial statement fraud, asset
misappropriation and corruption
Forensic accountants are usually CAs (Chartered
Accountants) or CPAs (Certified Practising Accountants). CA and CPA
certifications may require an accountant to work for a pre-determined number
of hours to fulfil the experience requirements. Some CA or CPA organisations
offer specialised forensics subgroups for professional networking. They may
also provide opportunities for further training in the field.
Employment Opportunities
A Master of Forensic Accounting allows
you to conduct an advanced investigation into a case and gain an extensive
understanding of the legal framework. The credits you gain from a master's
can help you enrol for a Doctor of Philosophy in Forensic Accounting and
Auditing. This course enables you to specialise in a key area of forensic
accounting, such as cyber accounting or fraud management.
Alternatively, you can consider gaining a Graduate Certificate in Business
(Forensic Accounting) or a Graduate Diploma of Forensic Accounting.
Postgraduate qualifications can help you progress to senior roles and take
on higher-profile cases.
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.
ANZSCO
ID:
221112
Alternative names:
Cost Accountant
Specialisations:
Carbon Accountant, Product Accountant
Knowledge, skills and attributes
To become a management
accountant, you would need:
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 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.
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 consultants help individual or
business with tax advice, tax returns and lodgements, and planning their
finances.
Taxation
Accountants analyse, report and provide advice on taxation issues to
organisations or individuals, prepare taxation returns and reports, and
handle disputes with taxation authorities.
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.
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.
Finance controllers
(TV & Film) oversee the team that makes sure a production is legally
and financially managed. They have a high level of authority, to the extent
they can even override a producer with their decisions.
They are often employed by the studio, financier or broadcaster that’s
investing in, or commissioning, the production. They are accountable to the
people who have come up with the cash, so it’s their job to make sure the
film is completed within budget and the money is spent properly.
A Financial Controller
(Corporate) is responsible for delivering
financial performance of their division or business unit to meet or exceed
corporate targets. A Financial Controller is responsible for financial
planning and analysis, forecasting, budgeting, and internal control. A
Financial Controller may also be responsible for financial reporting to
management and the board of directors, as well as compliance with government
regulations.
In smaller businesses, a Financial Controller may wear many hats and have
additional responsibilities such as accounts payable and receivable, human
resources, and information technology. Larger organisations typically have
staff who specialise in each of these areas.
Knowledge of film production: understand how film and TV dramas are
made, love the industry
Communication: listen to and be understood by everyone from
producers, financiers, production accountants and cashiers
Negotiation: be able to influence and persuade
Discretion: be able to maintain confidences
For the Company
A Financial Controller is responsible for overseeing all
financial aspects of a company, and as such needs to have a strong
understanding of finance and accounting principles.
Strong analytical abilities – to be able to analyse financial data
and identify trends and opportunities
Excellent accounting knowledge – to be able to accurately prepare
financial statements
Good leadership and communication capabilities – to be able to
effectively manage and communicate with staff at all levels of the
organisation
Proficient in MS Excel and other financial software – to be able to
use financial modelling and forecasting tools
Soft skills are also valuable to a Financial Controller
role.
Some necessary soft skills include:
Attention to detail – to ensure all financial transactions are
properly accounted for
Strong organisation skills – to manage and keep track of multiple
financial tasks simultaneously
Problem-solving skills – to be able to identify and resolve
financial issues as they arise
Time management skills – to ensure deadlines are m
The main role of a Financial Controller is to ensure the company's
financial health by overseeing all financial planning and analysis
activities. They may also be involved with mergers and
acquisitions, which requires an understanding of complex accounting issues
such as purchase price allocations.
Provide final review of balance sheets and cash flow forecasts
Support the development of divisional budgets
Prepare divisional monthly management reports
Conduct divisional expense analysis
Monitor division expenditure, cash receipts and forecast changes to
the division budget
Control allocations to division projects forecast variances between
actual results and budgeted results
Reconcile bank accounts; assist with preparati
on
Tracking, reporting, and analysing budget variances
Reviewing the company's financial statements to ensure they are
accurate
Preparing month-end reports for management, including profit and
loss statements, balance sheets, and cash flow statements
Recommending changes in policies or procedures that will improve
financial performance
Forecasting future financial performance
Preparing and analysing budgets
Providing accurate financial reports to management
Ensuring compliance with government regulations
Working conditions
Who does a finance controller work with -
TV & Film?
Production accountants:
are responsible for costing productions, liaising with financiers
and controlling cash flow
Key assistant accountants:
are responsible for the accurate accounting up to the 'trial
balance' stage. This is liaising with banks and maintaining records with
receipts of all transactions. They maintain records of all cast and crew
on payroll. They also monitor and maintain petty cash systems.
Assistant accountant (second assistant, third
assistant): Assistants help with the
day-to-day running of the accountancy office. This may involve keeping
records of invoices and creditors' payments and the preparation of
accounts payable, invoices, purchase orders and petty cash and payroll
calculation. They process online payments, maintain filing and invoice
monitoring systems, and audit petty cash envelopes. On bigger
productions where there are multiple assistant accountants, one may
carry out the duties of the central cashier while the second assistant
may be responsible for all the accounts payable.
Accounts trainee or cashier:
Trainees are responsible for making and recording payments and
helping to control accounts.
TV & Film:Using
finance software: use Movie Magic Budgeting or other finance packages.
Company: As above for Accountant
Education and training/entrance requirements
A Financial Controller typically has a degree in accounting
or finance, or needs to complete a professional accounting qualification
such as CPA or CA. Many employers also prefer candidates with experience in
financial analysis, financial modelling, and Microsoft Excel.
Employment Opportunities
TV & Film
Finance controllers have spent many years working in the
industry before moving into this senior position. Some go into finance from
production management positions. Others work in finance in other industries
before moving into film. A good route in is to start as a cashier and work
your way up to being a production accountant and then step up to finance
controller.
Apprenticeships are jobs with training. They’re a great
opportunity to earn while you learn. In the past, it has been challenging to
find jobs as an apprentice within production companies, although there are
now some employers offering assistant accountant apprenticeships tailored
for working in film and TV. It might be worth looking for an apprenticeship
as a junior production manager, accountant or book-keeper in a related
industry. You can then transfer into film and TV drama at a later point if
you keep up your interest and develop your contacts.
Company
The best way to become a Financial Controller is to gain
experience in finance and accounting roles. This can be done by studying at
university to gain a degree in accounting or finance, or completing a
professional accounting qualification such as CPA or CA. You can also gain
experience through working in roles such as a Bookkeeper, Accountant, or
Finance Officer.
In short, it takes strong analytical abilities, excellent accounting
knowledge, good leadership and communication skills, and proficient use of
financial software. Soft skills such as attention to detail, organisation
skills, problem-solving skills, and time management skills are also
important.
Production accountants do all the things accountants
do, but they do it on film locations amidst the buzz and creativity of
making a movie. They calculate finances, work out the cost of a production,
talk to the completion guarantor (an insurance policy to make sure the film
is delivered on time and on budget) and control the cash flow, or spending.
In pre-production, production accountants help the
producers and production managers prepare budgets and estimated final cost
reports. During production, they oversee all payments, manage payroll and
provide daily or weekly cost reports. They also produce cost forecasts to
evaluate the impact of any production changes.
Production accountants prepare a statement of account showing all income and
expenditure for the producer or production company and the financiers. They
may also have to arrange an independent audit. Depending on how the film is
financed, they may also have to deal with bank finance and completion
guarantors.
On larger productions, production accountants may work with finance
controllers, who are often permanently employed by studios and broadcasters.
Production accountants are usually freelancers.
ANZSCO ID:
221111
Knowledge, skills and attributes
Accountancy: keep books meticulously, know Inland
Revenue regulations and insurance
Using finance software: be able to use Movie Magic
Budgeting or other budgeting packages
Knowledge of film production: have a thorough
understanding of how film dramas are made and a love of the industry
Communication: be able to listen to and be understood by
everyone from producers, financiers, finance controllers and cashiers
Discretion: be able to maintain confidences
The Production Accountant: Behind the Scenes with Helen Maddison | Holes
Accountancy: keep books meticulously, know Inland
Revenue regulations and insurance
Using finance software: be able to use Movie Magic
Budgeting or other budgeting packages
Knowledge of film production: have a thorough
understanding of how film dramas are made and a love of the industry
Communication: be able to listen to and be understood by
everyone from producers, financiers, finance controllers and cashiers
Discretion: be able to maintain confidences
Working conditions
If the production has a finance controller, the production
accountant works closely with him or her. If it doesn’t, then the production
accountant heads up a team that may comprise a key assistant accountant, an
assistant accountant and an accounts trainee or cashier.
Tools and technologies
The usual packages for computers to keep
all the accounts for film work but there is also specific packages like
Some production accountants have a degree in accounting but
by no means all. Some get into the accounts department having worked in
other roles in the industry. A good route in is to start as a cashier and
work your way up to an assistant accountant role before becoming the
production accountant.
Apprenticeships are jobs with training. They’re a great
opportunity to earn while you learn. In the past, it has been challenging to
find jobs as an apprentice within production companies, although there are
now some employers offering assistant accountant apprenticeships tailored
for working in film and TV. It might be worth looking for an apprenticeship
as a junior production manager, accountant or book-keeper in a related
industry. You can then transfer into film and TV drama at a later point if
you keep up your interest and develop your contacts.
A degree in accountancy will stand you in good stead. It’s
not essential. Some people get qualified as bookkeepers then work their way
up without a degree.
Employment Opportunities
You might like to be a production
accountant in TV. Broadcasters like the ABC and
SBS will take on production accountants in staff
roles, which might suit some better than the freelance life which is more
typical for production accountants in film and TV drama.
Or you might want to take another role within film. Production accountants
go on to become line producers and financial controllers.
Accounts Clerks monitor creditor and debtor
accounts, undertake related routine documentation, and calculate and investigate the cost of wages, materials,
overheads and other operating costs.
Accounts clerks manage and
maintain the financial accounts for a business or organisation. They
perform accounting duties such as setting budgets, billing clients,
expenditure management and payroll. Other tasks may include reconciling
account statements, reviewing invoices, checking for any discrepancies
and writing financial reports. They also manage relationships with
clients, and address queries regarding payments and invoicing. Accounts
clerks usually specialise in either accounts payable or accounts
receivable, but will sometimes perform both roles.
ANZSCO ID & Description:551111: Monitors creditor and debtor accounts, and
undertakes related routine documentation. May work in a call centre.
Alternative names: Accounts payable, Receivable clerk,
Accounting Clerk,
preparing and processing documentation related to
accounts payable and receivable
reconciling invoices and despatching payments
calculating, analysing and investigating the costs of
proposed expenditure, wages and standard costs
preparing bank reconciliations
allocating expenditure to specified budget accounts
summarising expenditure and receipts
preparing records of standard costs and values for
items such as raw materials and packaging supplies
recording cost variations and contract price
movements
compiling cost data for preparation of operating
budgets, and profit and loss calculations
investigating the costs of proposed expenditures,
quotations and estimates
preparing reports of total costs, inventory
adjustments, selling prices and profits
may work in a call centre
assist in the
preparation of budgets and financial plans
deposit money into
business accounts and perform other banking duties
liaise with clients
regarding outstanding invoices and payments
manage weekly/monthly
operating costs such as wages and petty cash
monitor cash flow of
the business
payment of invoices and
expenses
prepare and distribute
financial reports and documents to management and staff as required
prepare management
reports including Accounts Receivable and Accounts Payable
reconcile expenditure
reports
Working conditions
Accounts clerks may work for a variety of different businesses in a wide
range of industries. In larger firms they will usually work as part of a
team in a specific accounting branch of the institution.
They usually work in an office environment, and may need to work longer
hours during peak financial periods such as the end of the financial
year.
Tools and technologies
Accounts clerks perform most of their tasks on a computer.
They use specialist financial and business software to record, monitor
and analyse the financial activities of the business. Spreadsheets and
electronic databases are used on a daily basis for maintaining
accounting records. Accounts clerks may spend considerable time on the
phone or using email.
Education and training/entrance requirements
To become an accounts clerk, you usually need to complete a
formal qualification in accounting, accounts administration, business
administration or financial services.
A Certificate II or III, or at least 1 year of relevant experience, is
usually needed. Around one in four workers have Year 12 as their highest
education level. Even with a qualification, further experience or
on-the-job training is sometimes required.
The Certificate III in Accounts Administration, Certificate III in
Business Administration, Certificate III in Financial Services and
Certificate IV in Accounting and Certificate IV in Bookkeeping are
offered at TAFE colleges and other registered training organisations
throughout Australia.
You can also complete a traineeship. The accounts clerk, payroll and
accounts clerk, accounts payable, and accounting support officer
traineeships usually take 12 months to complete. The accounts clerk and
accounts payable traineeships are available as school-based
traineeships.