Scope of Accounting in Australia

Admit Abroad - Scope of Accounting in Australia

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The language of business is accounting. It’s like a company report card that helps you figure out how successful your firm is. Accounting is used by businesses to conduct financial studies that are required for future planning and decision-making. It is the process of capturing, analyzing, summarizing, evaluating, and disseminating a company’s financial data. In reality, an accounting degree will help you be more productive when solving problems, and you can pursue accounting as a career if you enjoy working with numbers.

Accounting is still one of the most popular courses in Australia. One of the reasons for this is that Australia is always on the lookout for accountants. The evident need for accounting-related courses is all the more generally recognized, given the rising demand in the labor market. The approval of the CPA qualification by the ICAI and vice versa has added to the course’s popularity, particularly in India.

Accounting Courses in Australia

In Australia, the education system offers a variety of specialized Accounting Courses in a variety of subjects.

  • Diploma in Accounting — a six-month programme – is one of the most popular study options for accounting students.
  • Bachelors of Commerce — This is a three-year program that allows you to specialize within your stream.
  • A bachelor’s degree or five years of professional experience is required for the Graduate Certificate in Professional Accounting.
  • Master of Commerce — This is a one-year full-time program that requires a bachelor’s degree in commerce.

Why should you get your degree in accounting in Australia?

 

1.Cutting-edge technology: Accountancy students in Australia are taught utilizing the most cutting-edge technology available in the industry. Educators invest in the development of systems, applications, and studies.

 

2.Highly trained instructors: There is a good probability of finding professional accounting educators from various ethnic origins. International students are exposed to a variety of subjects, allowing them to have a better understanding of practices in other countries.

 

3.Accountants in Australia are accredited by three (3) professional accounting bodies: CPA Australia, Institute of Chartered Accountants, and Institute of Public Accountants. Completing a validated degree is the only way to join CPA Australia and the Institute of Chartered Accountants as an associate member.

 

4.High employment possibilities: Accountancy graduates in Australia have excellent job prospects. In the foreseeable future, there will be no scarcity of accounting employment openings. This, too, ensures the security of work.

 

5.Global demand: As the global economy grows, so does the demand for accounting graduates. Due to international recognition, holders of degrees/qualifications from Australian education providers are faring well.

 

6.Work in every industry: Accountancy professionals are needed in any business, therefore there are more possibilities to pick from than in other careers.

 

7.Mateship: One of the benefits of being an international student in Australia is that students who share a common enthusiasm for their field of study go through the journey together, forming relationships that will last a lifetime.

Best Universities in Australia for Accounting

 

S.No University QS 2022 Ranking Annual Tuition (AUD)
1 Australian National University 27 47,800
2 University of Sydney 38 49,000
3 University of New South Wales (UNSW) 43 35,600
4 Monash University 58 45,800
5 University of Queensland 47 44,272
6 University of Western Australia 93 42,300
7 University of Adelaide 108 44,000
8 University of Technology Sydney 133 41,136
9 University of Newcastle 134 31,980
10 Deakin University 283 28,600

Documentation Required

You must also send the following documents with your program application package:

  • Please make sure that all applications are filed on time, and that all supporting documents are included with the applications before the deadlines.
  • Transcripts and certificates from previous studies.
  • LOR (Letter of Recommendation) are a crucial component of your applications, and academic LOR can make or break your chances.
  • Non-native English speakers must pass English proficiency tests such as the IELTS/TOEFL, among others. Test results should ideally be sent directly from the testing agency.
  • The number of additional documents required varies by university. SOP (Statement of Purpose) /Personal Statement/CV, for example, are some of the supplementary documents that may be required.

Eligibility for a Master of Professional Accounting in Australia

  • In order to enroll in MPA programs in Australia, you must have a bachelor’s degree in a suitable field. Students with a bachelor’s degree in a different field may be admitted to some colleges.
  • Students with a bachelor’s degree in a different subject must meet extra requirements.
  • When it comes to international students seeking to study abroad, language proficiency is an additional need.

ACCOUNTING JOB OPPORTUNITIES

Chartered accountant is one of the professional options that you may consider after earning an accounting degree.

 

  • Auditor
  • Accountant for Information and Technology
  • Analyst in financial matters
  • Accountant specializing in forensic accounting
  • Accountant in Management
  • Controller
  • Managing Director of Finance
  • Managers of stockbroking firms
  • Analyst of investments
  • Advisory on investments
  • Specialization in risk management
  • Bankers

 

Australian Government-funded scholarships for international students in Australia

  1. Australian Awards- This is a government-funded award that pays for all of a student’s expenditures, including housing, transportation, and tuition. To be eligible for this scholarship, the student must be at least 18 years old. The Australian government pays for it.
  2. The Destination Australian Program – The Destination Australian Program is open to both domestic and international students. Every year, more than 1000 students are awarded up to 15,000 Australian dollars.

Australia’s Living Costs

According to Australian government regulations, students need an additional $20,290 AUD each year to cover living expenses in addition to their university tuition fees. It also advises that, depending on the type and city, accommodation might cost anything from 5 to 440 AUD each week. The following are some of the other living expenditures in Australia:

The cost of living in Australia for students is listed below. The costs listed below are for a week. (AUD/week)

  • AUD 90 – AUD 150 for hostels and guesthouses
  • AUD 95 – AUD 215 for a shared rental
  • AUD 110 – AUD 280 on-campus
  • AUD 235 – AUD 325 for a homestay
  • Rental costs range from AUD 185 to AUD 440.
  • Boarding schools cost between AUD 11000 and AUD 22000 each year.

Conclusion: 

There is a lot to say about the island nation that is known for its global academic reputation, a diverse range of disciplines, pleasant weather, and a safe environment. One of the main reasons why people opt to study in Australia is because of this. The country is one of the most pleasant and welcoming places to pursue higher education, with degrees recognized all over the world. One of the most tempting characteristics of studying in Australia is that the educational system focuses a larger emphasis on practical knowledge.. So buckle up and prepare to dive into this vast ocean of information, adventure, and learning.

Our hope is that this article gave you an overview of accounting scope for those who wish to study in Australia. If you do have any further queries or questions, do reach out to our experts and get your study abroad journey started today.