FINANCE: CAREER OUTLOOK - ACCOUNTING an d Associat e Professor Den is Vin en
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A CCOUNTING an d
FINA NCE:
CA REER OUTLOOK
Associat e Prof essor D en is Vin en
Sw in b u rn e Bu sin ess Sch ool
Th e b u sin ess w o rld relies o n acco u n t an t s an d f in an ce an alyst s w h ich is w h y w e o f f er acco u n t in g an d f in an ce co u rses at Sw in b u rn e. A g rad u at e acco u n t in g d eg ree p ro vid es t h e f in an cial, t ech n ical, an alyt ical, an d p ro b lem -so lvin g sk ills essen t ial in t h e 21st cen t u ry eco n o m y. To d ay’s acco u n t an t s w o rk in creasin g ly w it h f in an cial t ech n o lo g ies, b ig d at a, d at a an alyt ics an d d at a visu alisat io n t o o ls. Th ey u se f ig u res t o t ell b o t h b ig p ict u re an d d et ailed f in an cial st o ries t h ro u g h len ses lik e t h o se f o cu sed o n et h ical p ract ices, t h e en viro n m en t an d su st ain ab ilit y.
W HY STUD Y A CCOUNTING & FINA NCE?
• GROW ING JOB M A RKET – INTERNA TIONA L A ND LOCA L
• SPECIA LISED SKILLS – REGA RD ED A S A N EXPERT
• CONSISTENTLY HIGH SA LA RIES – A BOVE IND USTRY A VERA GE
• REW A RD ING A ND EXCITING CA REER – A GLOBA L CA REER
• CA REER HA S STOOD THE TEST OF TIM E – JOB SECURITY
• B USINESS W ORLD NEED S A CCOUNTA NTS – SOUGHT A FTER
Accord in g t o Grad Con n ect ion (Ap ril 20 20 )
(w h o serv ice clien t s f rom t h e b ig 4 f irm s, m id -t ier accou n t in g f irm s & t h e ATO)
“ a ll a ccou n t in g em p loyers a re con t in u in g w it h t h eir recru it m en t p rocesses for g ra d u a t e roles”
JOB OUTLOOK – A USTRA LIA
• Grad u at e Po sit io n $65k - $70 k averag e p ackag e in clu d in g su p er
• Fin an ce Of f icer $60 k - $75k averag e p ackag e in clu d in g su p er
• Sen io r A cco u n t an t $70 k - $99k + su p er + b on u s
• Fin an ce M an ag er $62k - $138k + su p er + b on u s
• Fin an cial Co n t ro ller $71k - $159k + su p er + b on u s
(PayScale 20 20 )
Dem a n d f or Accou n t in g a n d Fin a n ce sp ecia list s g rew
st ron g ly over t h e la st 5 yea rs a n d is exp ect ed t o g row
b y 4 % over t h e n ext 5 yea rs.
CHA NGES TO ROLE OF A CCOUNTING • The introduction of sophisticated technology is transforming the accounting and finance sectors. • Many of the manual, routine-based accounting tasks of the past are now undertaken by machines; however the accounting and finance sector is well placed to reap the benefits that new technology/AI has to offer. • Many of these changes will be a positive for prospective students contemplating a career in accounting and/or finance. WHY? – accounting and finance professionals will become increasingly involved in providing more value add expertise and taking on important decision-making and management responsibilities within organisations.
A CCOUNTING A ND FINA NCE ROLES
in clu d e
Fin an cial Rep o rt in g In so lven cy Au d it in g
Taxat io n Pro ject Evalu at io n Co n su lt in g
A CCOUNTING & FINA NCE COV ID -19
A CCOUNTING & FINA NCE FUNCTIONS The more immediate emphasis in Accounting and Finance functions will focus on: • Budgeting • Forecasting • Divestments • Business structure • Financing methods • Cash flow management • Mergers and acquisitions • Applying for government subsidies (short-term) (Knowledge and skills in these areas are embedded in the syllabus of our Accounting and Finance courses)
8 JOB SKILLS TO SUCCEED IN A POST-CORONA VIRUS W ORLD 1. Adaptability and Flexibility need to adapt to ever-evolving workplaces and continuously update skills. 2. Tech Savviness Need to acquire technology skills. 3. Creativity & Innovation human creativity is going to be essential. 4. Data Literacy understand data and make better decisions because of it. 5. Critical Thinking be able to evaluate information from diverse sources. 6. Digital Skills professionals with digital skills will become even more important. 7. Leadership professionals with strong skills in leadership will be in demand. 8. Emotional Intelligence individuals with strong EQ will be coveted by organisations. (These skills are all embedded in the Swinburne Accounting & Finance courses)
A CCOUNTING A S A LA UNCHING PA D • The successful accountant of the future will need to be equipped with technical, analytical, leadership and consulting skills. • Graduates can find a range of employment opportunities in accounting practices, in large corporates, banks and government regulators. • For many students, the accounting qualification is a launching pad for other careers (An Accounting Degree can open doors). • Accounting is an exciting area as it leads to many initial careers whilst allowing graduates to branch into many other areas of expertise and management, once experience is gained. • As the accounting profession evolves, so do the opportunities for accountants to find exciting and fulfilling careers that embrace the ever changing requirements of business.
W HY STUD Y A T SW INBURNE? • INNOVA TIVE CONTENT (D A TA -ORIENTED A ND TECHNOLOGY FOCUSSED ) • EM PLOYM ENT PA THW A YS (INTERNSHIPS A ND PLA CEM ENTS) • IND USTRY-ENGA GED (KPM G, D ELOITTE, A NZ Ban k , XERO) • W ORKING RELA TIONSHIP W ITH A CCOUNTING B OD IES (Lon g & Close In v olv em en t w it h CPA A UST, CA A NZ) • PERSONALISED TEA CHING A ND LEA RNING (SM A LL CLA SSES) • EXPERIENCED STA FF (IND USTRY ENGA GED ) • FLEXIBLE STUD Y (BLEND ED A ND ONLINE)
OUR A CCOUNTING & FINA NCE OFFERINGS
UND ERGRA D UA TE POSTGRA D UA TE
Bach elor of A ccou n t in g
an d M ast er of Pr of ession al
Bach elor of Bu sin ess A ccou n t in g
m ajor in g in A ccou n t in g
Master of
an d / or Fin an ce Professional
Graduate
Master of Accounting
Certificate
nn Minor Professional Professional (Extended)
+ + 4 units OR Accounting Specialisations:
Accounting
Co-Major 12 units CPA
CORE Accounting 4 units
(Finance) Finance
8 units 8 units 8 units Other
Minor
16 units
4 units
A cco u n t in g A cco u n t in gCPA PROGRAM – Ed u cat ion Req u ir em en t s
The CPA Program education component comprises four compulsory subjects:
• Ethics and Governance
• Strategic Management Accounting
• Financial Reporting
• Global Strategy and Leadership –must have successfully completed all other compulsory subjects before
enrolling in this subject
And, two electives selected from:
• Advanced Audit and Assurance
• Contemporary Business Issues
• Financial Risk Management
• Australia Taxation
• Australia Taxation – Advanced
CPA PROGRAM REQUIREM ENTS
To com p let e t h e CPA Prog ram an d b ecom e a CPA, st u d en t s n eed t o sat isfy t h ree req u irem en t s:
1. Su ccessf u lly co m p let e t h e CPA Pro g ram ed u cat io n co m p o n en t
2. Sat isf y t h e Exp erien ce req u irem en t
3. Ho ld a reco g n ised d eg reeOUR A CCOUNTING & FINA NCE OFFERINGS
POSTGRA D UA TE
POSTGRA D UA TE M ast er of Fin an cial Plan n in g
an d
M ast er o f Fin an ce M ast er of Pr of ession al
A ccou n t in g / M ast er of
Fin an cial Plan n in g
Master of
nn Professional
Master of +
Accounting /
FOUNDATION + CORE + SPECIALISATION Financial
4 units 8 units 4 units Master of
Planning Financial
12 units Planning
(Double Degree)
16 units
Fin an ce
Fin an cial Plan n in gA CCOUNTING – A USTRA LIA A cco u n t an t s p ro v id e sp ecialised serv ices ran g in g f ro m : f in an cial rep o rt in g , t ax at io n , au d it in g , in so lven cy, acco u n t in g in f o rm at io n sy st em s, b u d g et in g , co st m an ag em en t , p lan n in g an d d ecisio n -m ak in g b y o rg an isat io n s an d in d ivid u als. (W it h va riou s n ew g overn m en t g ra n t s & t a x sch em es n ow a va ila b le w orld w id e – d em a n d f or Accou n t a n t s f rom b ot h Org a n isa t ion s & In d ivid u a ls w ill b e h u g e) A f orm a l q u a lif ica t ion in Accou n t in g is n eed ed t o w ork a s a n Accou n t a n t . Th e m a jorit y of Accou n t a n t s u n d ert a k e a Ba ch elor or M a st er d eg ree in Accou n t in g or a rela t ed f ield m a jorin g in Accou n t in g . For p rof ession a l recog n it ion , st u d ies u su a lly con t in u e w it h CPA Au st ra lia , CA ANZ, ACCA or IPA.
THA NK YOU
an d
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