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Accounting
By Ross Kendall
NSW/ACT
Published by Career FAQs Pty Ltd

© Copyright Career FAQs Pty Ltd 2005
First published in 2005
This book is copyright. Apart from any fair dealing for the purpose of private study,
research, criticism or review, as permitted under the Copyright Act 1968, no part
of this publication may be reproduced by any process or by any means, electronic,
photocopied, recorded or otherwise without prior written permission of the copyright
owner. Inquiries for reproduction should be addressed to the publisher.
Published by
Career FAQs Pty Ltd
Suite 76, The Hub
89–97 Jones Street
Ultimo NSW 2007
www.careerfaqs.com.au
National Library of Australia

Cataloguing-in-Publication entry:
Kendall, Ross
Accounting NSW/ACT
ISBN No. 1 921106 03 4
1. Accounting – Vocational guidance – New South Wales. 2. Accounting – Vocational

guidance – Australian Capital Territory. 3. Accountants – Employment – New South
Wales. 4. Accountants – Employment – Australian Capital Territory.
I. Title. (Series : Career FAQs).
657.023944
Publisher: Sue Stevens

Author: Ross Kendall
Editor: Robyn Smith
Researchers: Louisa Veidelis, Amanda Evans
Design: Terri Marzullo, H2M Creative Services; James Manning, Rain Agency
Desktop Publisher: Terri Marzullo
Research assistants: Rebecca Robinson, Kerry J Swift
Printing: Paragon Group
Career FAQs acknowledges the following copyright owners for permission to

reproduce their work:
CPA Australia
Department of Employment and Workplace Relations
Graduate Careers Council of Australia
Michael Page International
Every effort has been made to contact copyright owners and obtain permission.
However, should an infringement have occurred, Career FAQs apologise for the
omission and request that the copyright owner contact them.
Disclaimer
The opinions and statements made by people who contributed to this book from the
accounting profession are their own and are not those of Career FAQs. The publishers
do not claim to represent the entire extent of the accounting profession and career
choices. The aim has always been to provide a broad overview of the possibilities
available. As such Career FAQs Accounting NSW/ACT does not purport to be a true
and accurate record of the accounting profession, relying on the voices of those
working in the industry to tell their stories. Inaccuracies may arise as a result of the
nature of this book. Users should follow the links to actual websites of organisations
to ascertain current accounting practice.
Foreword
If you are looking for a rewarding career in the business world then you
can’t go past accounting for the extraordinary range of opportunities
that it can provide. The practical grounding and technical skills it equips
you with can form the basis for a career that takes you in many varied
and different directions.
No matter the size or type of business, a keen awareness and careful

management of its financial wellbeing are crucial for its ongoing
success. All successful people have an understanding of accounting
basics such as cash flow management, profit and loss accounting,
balance sheet management and financial reports generally. If they Belinda Hutchinson
didn’t have this basic knowledge and experience, they wouldn’t be Belinda is a non executive director of
where they are today! Telstra Corporation Limited, Energy
Australia Limited, QBE Insurance
As a career choice, accounting not only provides you with a respected Group Limited, St Vincent’s & Mater
Health Sydney Limited, and President
and strong platform on which to enter the world of business, but it also
of the Council of the State Library
allows you to grow and diversify into different areas as you develop your of New South Wales. She is also a
career. I started with an audit firm, moved into management consulting consultant to Macquarie Bank where
and then into investment banking. My roles included accounting she previously held the position of
Executive Director.
administration, design and implementation of accounting and
management systems, budgeting and strategy development, corporate
and project finance, and managing equity capital market issues.
As a director I now work with boards and management on a range

of issues from strategy, operational and financial performance,
organisational structure to succession planning, etc. I find helping
companies to grow and succeed and maintaining a healthy work–life
balance is rewarding. There have been twists and turns along the way,
as with any career, but I am genuinely happy and enjoy what I do.
Having done the groundwork in accounting it has given me a wide range
of opportunities in business.
I know how hard it can be for young people to decide on a career

choice. I started doing architecture and only lasted two weeks! This is
the reason why I would encourage all those interested in accounting
and business to read this guide. It will provide you with a clear
understanding of what accounting is all about. It could be your first step
on a diverse, challenging and fulfilling career path.
Contents
About Career FAQS ix
How to use this book xi
The big picture

Why accounting? 1
What do accountants do? 2
What’s happening right now? 5
Current size of the profession 5
What are the job opportunities? 6
How much can I earn? 12
Who are the main employers? 16
Accountancy practices 17
The big four 18
Corporates 18
Small- to medium-sized businesses 18
Government 18
What are employers looking for? 19
Meet an employer 20
What support organisations exist? 24
Main accounting bodies 24
CPA Australia 24
Institute of Chartered Accountants in Australia 25
National Institute of Accountants 26
Other accounting bodies 27
Accounting and Finance Association of Australia
and New Zealand 27
Chartered Institute of Management Accountants 28
National Tax and Accountants’ Association Ltd 28
Association of Chartered Certified Accountants 29
Institute of Certified Management Accountants 29
Association of Taxation and Management Accountants 29
Australian Accounting Standards Board 30

Accounting
Insider Info
What jobs could I do? 35
What do real people say about their jobs? 38
Roberta Chan* – Trainee auditor 38
Jack Turner* – Audit analyst 40
Will Yan* – Trainee auditor 41
Toby Lonnquist – Senior consultant, advisory 43
Amanda Hammond – Financial accountant 45
Alexandra Blok – Assistant manager, KMPG forensic 47
Shanya Lee* – Assistant accountant 52
Jane Thomas* – Client manager 53
Brendan Twining – Senior manager, audit 55
David Morgan* – Audit manager 57
Jennifer Jones – Senior manager, financial assurance 59
Matthew Marcurian – Junior partner 60
Anthony Costa* – Senior tax accountant 62
Samantha Valley* – Finance manager 62
Andrew Newton* – Finance director 64
Melissa Blake* – Director 65
Charles Black* – Associate partner 66
Bob Simmat – Proprietor 68
Joe Gluck – Sole practitioner 69
Giovanni Maso – Business manager, Zurich 70
Jocelyn Kingston – Accountant, Greenpeace 73
Ready, set, go for it!

What qualifications do I need? 81
University courses 82
What can I expect to learn? 85
TAFE courses 86
Industry-based study 87
Qualifying through CPA Australia 87
Qualifying through the ICAA 88
Qualifying through the NIA 90
vi
Other ways in to the profession 91
How do I get that job? 93
How are people recruited? 93
Networking 94
Graduate programs 94
Recruitment agencies 96
Stand out from the crowd 97
Create an outstanding application 98
The résumé 99
Tips: Résumé writing 101
The cover letter 102
Selection criteria 103
Tips from a professional recruiter 104
How can I stand out at the interview? 105
Preparing for the interview 105
Making an impact at the interview 106
Psychometric testing 108
Common psychometiric tools 108
Preparing for psychometric assessments 109
Tips: Interview 109
What can I do right now? 110
Buzz words 115
Appendix 1 118
Comparative starting salaries of accountants
with other professions 118
Appendix 2 120
Banking and finance salary scales 120
Appendix 3 122
Commerce and industry salary scales 122
Appendix 4 123
Getting into university 123
Appendix 5 125
Sample job advertisements 125
Appendix 6 127
More sample job advertisements 127
vii
Accounting
Appendix 7 130
Sample UK job advertisements 130
Appendix 8 132
Sample résumé: graduate recruitment 132
Appendix 9 133
Another sample résumé 133
Appendix 10 135
Sample cover letter: graduate recruitment 135
Appendix 11 136
Professional recruiter’s verdict 136
viii
About Career FAQs
Want to choose your ideal career but don’t
know where to start?
Will Santow, Managing Director, Career FAQs
Career FAQs publishes a diverse and growing range of career books that Career FAQs
focuses on different professions, industries, and lifestyles to make the n real jobs
search for your perfect career that much easier. n real people
Each book profiles real people doing n real experiences

Don’t end up in
real jobs and talking about their real
someone else’s life, experiences – the good and the bad
a career choice is as – from the day-to-day routine of working
much a life choice as a life through to the more dynamic
vocational decision. aspects of a job. In addition to this,
Career FAQs’ books feature practical
information about qualification requirements, the key educational and
training institutions, industry bodies and support organisations, earning
capacity and job-hunting tips.
With all of the above covered in each book, it is easy to see why
Career FAQs provides a dynamic new approach to finding the
right career.
Career FAQs was conceived in 2004 as a result of my own quest

to settle on a particular career path through my 20s and early
30s. At times of career angst or just indecision about where I
should go for my next move, I would try to get my hands on
empowering, high-quality, up-to-date career information that
related specifically to the market in which I wanted to work. I
could find nothing. When I asked around, the only thing I found
was a shared frustration amongst many of my contemporaries.
The Career FAQs books will address this critical information and
educational gap and so reduce the number of future
mismatches between career–lifestyle aspirations and
career–lifestyle realities.
ix
Accounting
The range of Career FAQs titles is constantly expanding as we

continue to talk to people who have carved out interesting and
dynamic careers and to hear their stories in their own words.
For a list of current titles, please visit our website,
www.careerfaqs.com.au.
Best of luck with finding the right career for you!
Will Santow
Managing Director
Career FAQs
Thank you!
A special thanks from the team at Career FAQs to the many
people who have contributed their time and shared their
experiences and insights to help make this book possible.
It is always inspirational to find people who are willing

to give of themselves, particularly their time – a scarce
commodity for most people today – in order to help make a
difference to others.
That you all gave so willingly and provided such compelling

insights into your working lives so that others can make
better informed career choices, is truly appreciated.

How to use this book
All Career FAQs books are structured with a similar layout, so if you are fyi
familiar with one book, you will be able to navigate easily through all Career FAQs books that
the others, and find the information you need quickly and easily. are grouped by theme and
focus on a particular lifestyle
Our books profile real jobs and the people doing them to provide a choice or personality type,
broad overview of possibilities. It is not a definitive list but is intended such as Xtreme, cover
these three sections for
to provide some insights into what it can mean to work in these each extreme job listed.
particular roles.
An asterisk (*) next to a person’s name indicates the name has

been changed.
Career FAQs book are divided into three main sections.
‘The big picture’ provides an overview of the industry, employment

opportunities and salary scales. It provides information about the main
employers and the variety of support organisations that exist.
‘Insider info’ profiles the personal experiences of people who are

currently working within the profession. It allows the reader to discover
what people working within the industry say you should expect from
working in different jobs at various levels of seniority.
‘Ready, set, go for it!’ tells you how you can get the appropriate training
and experience to ultimately get that job you want and guides you
through the process of gaining employment.
Style elements are used in Career FAQs books to help you navigate
through the information.
cv is a snapshot of a person’s career pathway –

it shows some of the key job stepping stones
along an individual’s career path that led to the
current position
indicates that another Career FAQs title has more

detour
jobs of this type
find out gives you directions to find out more about a

more particular topic or organisation
xi
Accounting
provides additional information or an interesting

fyi
fact and provides directions to relevant appendixes
provides a brief definition of a term that appears in

glossary
bold within the main text
are jobs in the industry or profession that, at the

hotjobs
time of writing, are in demand
in is a short profile of a specific job, with

brief characteristics such as salary, qualifications,
number of hours worked, the ability to balance
personal and work commitments and the flexibility
afforded by the employer
MYTH explodes popular myths surrounding a particular

career choice
fact
myweek is a day-by-day overview of the typical work-

specific activities required of an individual in a
particular job
jobs that have an unconventional, interesting

or out of the ordinary focus
q&a tells the story of real experiences of people working

in the industry
highlight some of the issues associated with a

tradeoffs particular career – such as difficulties or obstacles
that you might face in the featured industry
xii
The big picture
Why accounting?
In the modern business environment accountants have a crucial role
in the operation, direction and progress of just about every enterprise
that exists. Accountants work in the travel, entertainment, finance,
information technology, communications, retail, finance and banking
industries, to name just a few.
All organisations, at some stage, have a need for the services of a

qualified accountant.
They occupy diverse roles in all sectors of the economy including:
n government at all levels
n private companies both large and small
n not-for-profit organisations
n volunteer organisations.
Today’s accountants do anything from taxation, audit, overseeing

resources and financial health, right through to general management
and strategic goal setting.
Want more quality career resources

from Career FAQs for FREE? Click here
Accounting
Accounting is an extremely professional environment that offers

incredible job security, career progress and good pay.
Gone are the days of dull, humourless ‘bean counters’ sitting in the back
office crunching numbers. Today’s successful accountants are outgoing
and confident people with strong communication skills. They help
control the complex data that is the lifeblood of organisations.
What do accountants do?

Generally speaking, an accountant’s job is to make sure a company
or organisation is financially efficient and profitable. As the name
suggests, accounting is all about accountability, and making sure that
the business finances are accurate and comply with the law.
Accountants may perform the following tasks:
n formulate budgetary and accounting policies
n prepare financial statements
n present financial reviews to clients, boards of directors, management,

shareholders, and/or statutory bodies
n conduct financial investigations
n undertake audits
glossary
n keep reports and confer with management on the current state of
Audit means: assets and liabilities
– official examination
and verification of n liaise with others on businesses mergers and capital financing
financial accounts
n examine operating costs and the income and expenditure
n ensure compliance with statutory requirements
n manage insolvency and taxation matters
n liaise with bankers and financial brokers to establish funds

management systems.
Personal attributes that accountants require in their work include:
n good analytical and problem-solving skills
n good organisational skills
n ability to work in an ethical and professional manner

The big picture
n discretion when dealing with confidential information
n good communication skills
n ability to develop and maintain a good rapport with clients and

other stakeholders
n good written and oral skills for putting together and presenting
financial plans and strategies.
These tasks can be done in a number of different jobs depending on the

career path a person decides.
Accountants have to fully understand the fundamentals of the business

such as taxation, profit and loss and other financial statements. But
with the widespread introduction of sophisticated accounting software
this aspect of the business is diminishing. Today’s accountants are
as much a part of the service industry as many other businesses. The
interests of clients are paramount. As one practitioner put it: ‘you don’t
want to bore your clients to death.’

Accounting
An accountant’s role is increasingly about finding the best financial and

business solutions to a client’s problems. To this end they most be open,
inclusive and good communicators capable of explaining complex issues
in a way that clients understand.
Currently there is a changing attitude about accountants from

being old, number-crunchers to young dynamic business-minded
people. There is an emphasis on customer service more than ever.
David Morgan, Audit manager, medium-sized firm
Accounting as a profession is continually evolving with much of

this change being driven by technology. However, the demand for
accountants is also constantly changing.

The big picture
What’s happening right now?

Accountants are very much in demand. According to The Commonwealth
Department of Employment and Workplace Relations (DEWR), there is
a national shortage of accountants. Job prospects for accountants are
considered ‘very good’. Moreover, there has been ‘strong growth’ in
opportunities for accountants which is set to continue, to at least 2010 – 2011.
According to the Commonwealth Department of Employment and

Workplace Relations (DEWR),
Accountants have a high proportion of full-time jobs. Ninety per

cent are in full time work. For accountants working full-time,
average weekly hours are 42.4 (compared to 42.1 for all) and
earnings are high – in the top 20 per cent. Unemployment for
accountants is below average.
DEWR website, accessed 14 June 2005
Current size of the profession

Accountancy is considered a large occupation and has been estimated by
DEWR to include over 140 000 people in Australia in 2004. Accountancy is
a growing profession. There has been a steady increase from around 90
000 accountants in 1990 to the current figure. Over the past five years, from
1999 to 2004, the number of jobs in accounting has grown by 28.1 per cent.
This compares favourably with the growth in the job rate generally (10.2 per
cent) for the same period, as the following graph shows.
30 28.1
25
20
15
10.2 9.1
10
4.3
5 Accountants
All occupations
0
Males 5 years 2 years
Femaies
Accountancy employment growth compared to all professions
Source: D
epartment of Employment and Worklplace Relations website, data from ABS
Labour Force Survey, 2003 © Commonwealth of Australia reproduced by permission.
This is good news for anyone considering accountancy as a career choice.

Industry 49%
Public sector 32%
Accounting
So what are the job opportunities, what are the in-demand jobs, and
how much can accountants earn?
What are the job opportunities?

The current job market for accountants is very promising due to a skills
shortage which translates into a high demand for accountants. The
cause of this shortage is debatable, with several factors contributing
to the issue, such as a growth of the Australian economy, shortage of
university places, baby boomers retiring, and young graduates leaving
the industry.
The continuing strength of the Australian economy, recent

changes in the corporate regulations and revived accounting
standards requiring detailed technical expertise have all had a
significant impact on the demand for accountants.
Recent surveys show that, for example, the Professional Services

sector is the most optimistic of all industry groups in terms of
the expected increase in permanent employment opportunities in
the market – an increase of almost 10 per cent on the same period
past year. This means there is no better time for accountants in
the job market to be able to consider a variety of employment
opportunities and be in a position to then select the most
appropriate, interesting and challenging opportunity to meet their
short-term and long-term goals, rather than previously where they
may have felt the need to accept the first offer that they receive.
Michelle Lorschy, Director, Ace Recruitment
Bob Birrell notes the role of a limited number of accounting places at

university on the demand for accountants:
The number of Australian domestic accounting graduates has

reached a plateau and has even slightly declined over recent
years. This is because the number of HECS [Higher Education
Contribution Scheme] places at Australian universities has also
reached a plateau as the Government hasn’t allocated extra money
for places since 1996.
Bob Birrell quoted in the Sydney Morning Herald, My Career, June 25–26, 2005, p. 2.
In addition, the retirement of many accountants in the baby boomer

age group will create even greater demand for graduate accountants.
This trend – taken in consideration with a corresponding trend for
young accountants to work fewer hours than their baby boomer elders
– means more job opportunities.

The big picture
Baby boomers are expected to retire in droves over the next

few years. Fewer eligible young accountants are interested in
becoming equity partners and prefer to work as managers or
salaried partners; they shy away from working 80 hours a week
in preference for better work–life balance. And those that do
gain partnership are leaving after four or five years to do other
things. This trend will become pronounced as a larger proportion
of young women enter the profession than ever before; they have
different priorities from earlier generations.
Mark Jones, General Manager SA/NT, quoted on the ICAA website:
www.icaa.org.au (accessed 7 July 2005).
The high demand for accountants is not limited to the big cities of
Sydney, Melbourne and Brisbane. Rather, the demand is Australia
wide and extends to the overseas job market as well, according to
recruitment specialists.
The accounting profession is facing an exciting time with

opportunities across many industries in all states of Australia.
Today, government and business looks to accountants as business
leaders, and the career path for accountants is widespread and
full of variety. Whether you choose a career as a specialist
accountant or whether you want to use your accounting
qualification more broadly in other business disciplines, it’s good
sense to consider a major in accounting. The opportunities for
Australian accountants overseas are also on the rise, which is
exciting news if the idea of working overseas interests you!
Rob Jano, National practice manager, Accounting and Finance division,
Hudson recruitment
So where do accountants work?
There are significant numbers of accountants working in the main

employing industries in Australia. These include property and business
services, which have the largest number (52.9 per cent). Finance, insurance,
and manufacturing employ a combined 18.9 per cent of accountants.

0
Males (FT) Males (PT) Females (FT) Females (PT) 0
Accounting
60
52.9
50
40
30
20
11.5 10.3 11.2
8.6
10 5.9 4.6 4.6
3.6 4.0 Accountants
All occupations
0 Property & Finance & Manufacturing Govt admin & Wholesale
Business Insurance Defence Trade
Services
Main employing industries (% share)

Source: D
epartment of Employment and Workplace Relations website, data from ABS Labour
Force Survey, 2003 © Commonwealth of Australia reproduced by permission.
While there is great demand for accountants in Australia in these

industries, there is also the opportunity for accountants to
work overseas.
We have seen a significant increase in the demand for CAs

to work abroad, in particular in Europe, due to the favorable
economic conditions. Both Europe and the UK have introduced
revised visa conditions which now allow recipients of these visas
to stay for two years and apply for work abroad up to the age of
31, as opposed to the previous age of 28.
Michael Page International Finance Salary Survey, 2005, p. 4.
From a gender perspective, accountancy is made up of a predominantly

male workforce. Males out-number their female counterparts in full-time
accountancy jobs but anecdotal evidence suggests this gap is closing
as the number of female graduates compared to males is on the rise.
An interesting statistic from DEWR is that young accountants make up
the largest age group, with 35.2 per cent in the 25 to 34 age group.
The next largest group is made up of those aged 35 to 44, with 25.3 per
cent. This means over 60 per cent of accountants are aged 25 to 44, as
the following graph shows.

5
ntants 2.9 Males 5 year
1.7
upations Femaies
0
Total FT PT Total FT PT
The big picture
40
35.2
35
30
25.3 24.0
25 22.8 22.2
20 18.5
15 13.0
11.0 10.8
9.4
10 7.2
ntants
upations 5 Accountants
0.6 All occupations
0
15–19 20–24 25–34 35–44 45–54 55+
fyi
Age profile in accountancy and all occupations Baby boomers are those
Source: D
epartment of Employment and Workplace Relations website, data from ABS Labour post-World War II babies
Force Survey, 2003 © Commonwealth of Australia reproduced by permission. born between 1946
and 1960 – making the
As the graph indicates, up to 30 percent of accountants are over 45. youngest boomers 45
These figures support the proposition that baby boomer retirements years of age in 2005.
over the next 20 years will add to the continued demand for young
accounting graduates.
Accounting graduates Accounting graduates find work quickly.

20 Figures from the Graduate Careers
find work quickly 16.7 find out
Council of Australia (GCCA) show that
over 87 per cent of15
accountancy graduates find full-time employment more
11.1 See ‘Comparative starting
within roughly four months of finishing university. This compares
10 salaries of accountants
favourably with the average across all graduate degrees of 80 per cent. with other professions’
nts
4.5 in Appendix 1.
ations 5
Accountants
All occupations
0
-2.8
-5
5 years 2 years

Accounting
Sharon Bell from the accounting firm PricewaterhouseCoopers (PwC), says

that the diversity of their accounting sections provides young accountants
in their graduate recruitment program (average 500 each year) the
opportunity to choose a career path in accounting that suits them.
In the last two years, we have seen an increase in our annual

graduate intake and this year we are recruiting over 500
graduates and trainees nationally. At PwC [PricewaterhouseCoop
ers], an accounting career provides you with a range of national
and overseas career choices and enables you to find your niche,
whether it be in audit, tax, or areas such as fraud, investigations,
corporate finance or mergers and acquisitions. We also give you
the chance to work across a diverse range of industry sectors
from banking, retail, entertainment and media, insurance,
construction, transport, resources and aviation.
Sharon Bell, Human capital director, resourcing, PwC
So what are the hot jobs in accounting? Current accountancy ‘hotspots’

according to Kathryn Oakman, Public relations manager with Hays
recruitment agency, include:
hotjobs
n staff experienced with the International Financial Reporting
Standards (IFRS)
glossary
n candidates with internal audit, IT and business risk backgrounds
IFRS means:
– International Financial n qualified CPA/CA accountants
Reporting Standards: a set of
accounting standards issued n management accountants
by the International Accounting
Standards Board (IASB). n business analysts
n assistant accountants
n bookkeepers
n all levels of ‘accounts payable’ and ‘accounts receivable’ staff.
Some of the highly-prized, high-paying positions that accountants

can aspire to include investment banking jobs, business analysts and
positions at the top executive levels of business.
10
The big picture
Almost-qualified chartered accountants with less than four

detour
years’ experience have never had it so good. They are looking at
fantastic opportunities to move into sexy roles like investment Career FAQs Investment
banker, business analyst. Banking provides
a comprehensive
Steve Moir, Managing Director, Australia, Michael Page International Finance Salary overview of a career in
Survey, 2005
investment banking.
What is the job situation like in New South Wales and the ACT given the www.careerfaqs.com.au
skills shortage?
Demand for accountants in the information technology

and telecommunications sector is growing strongly.
Public practice firms are relying on larger intakes of
graduates to replace the loss of mid-level accountants
In NSW
into commerce and industry. Companies with Asia-
Pacific head offices in Sydney are attracting Australian
accountants to work in their Asia-Pacific offshore
operations, according to Rob Jano.
The Federal Government continues to be a strong

employer in the ACT, with particular demand for
accountants with budgeting experience. Moreover, many
accounting graduates with one to three years’ experience
In the ACT
are moving to Sydney and Melbourne. This is creating
a shortage of accountants with three to seven years
experience in the ACT, and as a result, accountants with
government experience are becoming scarce.
This means that there are plenty of options for new graduates,
including:
find out
n joining an accountancy firm
more
n working in investment banking www.myfuture.edu.au
n working as a business analyst http://jobsearch.gov.au

www.michaelpage.com.au
n going into commerce or industry
www.mycareer.com.au
n working for the government (federal or state). www.careerone.com.au
Other options include: www.seek.com.au

www.hudsonresourcing.
n working in the not-for-profit sector com.au
n travelling overseas to find work. www.hays.com.au
11
Accounting
How much can I earn?

Strong demand for accountants means they are well paid compared with
most of the population. In 2003 accountants earned almost a quarter
more per week than other occupations.
%
1200
1000
1000
800
800 712
648
600
400
200
Accountants
All occupations
0
All ages 20–24
Weekly earnings (full time before tax)

Source: Department of Employment and Workplace Relations website, data from ABS
Employee Earnings, Benefits and Trade Union Membership, 2003 © Commonwealth
% of Australia, reproduced by permission.
fyi
And60accounting
53.9 salaries look to be on the increase.
The shortage in skilled 40
50 47.1
accountants will lead to 35
higher salaries, according Salaries have been on the rise for permanent candidates during
40 30
to nearly half of Australia’s 2005, particularly for Chartered33.6Accountants who are moving into
25
HR and finance managers. 30
banks or large financial institutions. Receiving
24.4 a salary increase in
In a survey by recruiter 20.3 20
the 20–25 per cent range is not uncommon.
20
Robert Half, participants 15
were asked how they would 8.2 2005
Michael Page Finance salary survey, 8.6 10
10
attract new employees in 3.9 Accountants
All occupations 5
coming years, and 19 per 0
Firms are offering ‘golden hellos’ for the first time to recruit 0
cent said they would pay Males (FT) Males (PT) Females (FT) Females (PT) 0
mid-level and senior accountants (typically with salaries of more
more than their competitors
to secure skilled employees. than $85 000). These one-off payments range from 15 per cent
Source: SMH My Career, to 50 per cent of remuneration.
13-14/08/2005
Chris Hart, Remuneration consultant cited in BRW, 7–13 July 2005, p. 71.
60
52.9
50
40
30
20
11.5 10.3 11.2
8.6
10 5.9 4.6 4.6
3.6 4.0 Accountants
All occupations
0 Property & Finance & Manufacturing Govt admin & Wholesale
Business Insurance Defence Trade
Services
12
The big picture
A look at the Michael Page International salary survey for 2005 not only
provides data on salaries, but also indicates the prospects of future
income levels as experience becomes a factor. The following survey of
accounting incomes in 2005 shows that graduates can earn up to $50
000 and that in New South Wales it is possible to be earning $100K plus
within six years of graduating.
Years of
NSW $’000 VIC $’000 WA $’000 QLD $’000
experience
Business services
Cadet / trainee 0 – 1 year 25 – 30 21 – 28 – –
Undergraduate 1 – 2 years 28 – 35 25 – 32 28 – 32 25 – 30
Undergraduate 2 – 4 years 30 – 45 28 – 40 28 – 38 28 – 35
Graduate 0 – 1 year 34 – 38 34 – 40 32 – 38 30 – 38
Intermediate 1 – 2 years 38 – 48 36 – 46 35 – 42 35 – 42
Senior (part qualified) min 2 years 48 – 60 45 – 55 42 – 50 40 – 55
Senior (qualified) min 3 years 55 – 72 55 – 65 50 – 65 48 – 65
Supervisor / assistant
min 4 years 65 – 80 60 – 75 65 – 75 55 – 70
manager
Manager min 5 years 75 – 120 70 – 110 80 – 90 70 – 85
Senior manager min 6 years 100 – 150 95 – 150 90+ 85+
Years of
NSW $’000 VIC $’000 WA $’000 QLD $’000
experience
External/internal audit
Graduate 0 – 1 year 34 – 40 34 – 40 32 – 38 30 – 38
min 4 years 65 – 80 60 – 75 65 – 80 60 – 75
manager
Senior manager min 6 years 100+ 95+ 95+ 85+
Years of
NSW $’000 VIC $’000 WA $’000 QLD $’000
experience
IT audit/computer Assurance
Graduate 0 – 1 year 35 – 45 37 – 44 32 – 38 30 – 38
Consultant 1 – 2 years 40 – 50 38 – 45 38 – 45 35 – 45
min 4 years 70 – 90 64 – 75 65 – 75 60 – 75
manager
Manager min 5 years 85 – 120 70 –120 72 – 95 70 – 85
13
Accounting
Years of
NSW $’000 VIC $’000 WA $’000 QLD $’000
experience
Tax
Graduate 0 – 1 year 38 – 48 38 – 46 32 – 38 30 – 38
Senior consultant 2 – 4 years 54 – 74 54 – 72 55 – 70 50 – 65
4 – 5 years 70 – 85 65 – 83 65 – 80 60 – 75
manager
Years of
NSW $’000 VIC $’000 WA $’000 QLD $’000
experience
Corporate finance
Graduate 0 – 1 year 45 – 50 38 – 46 34 – 38 32 – 40
Senior consultant 2 – 4 years 58 – 74 55 – 72 50 – 70 60 – 75
4 – 5 years 70 – 85 65 – 83 67 – 83 65 – 80
manager
Years of
NSW $’000 VIC $’000 WA $’000 QLD $’000
experience
Corporate recovery/insolvency
Graduate 0 – 1 year 34 – 40 34 – 40 32 – 40 30 – 38
Senior (part qualified) 2 – 3 years 45 – 55 45 – 55 48 – 55 45 – 55
Senior (qualified) 3 – 4 years 55 – 70 50 – 67 53 – 68 50 – 65
4 – 5 years 70 – 80 65 – 80 65 – 80 60 – 75
manager
Salaries for Accountants, 2005

Source: M
ichael Page International – Accounting profession salary table by state, Finance
Salary Survey 2005, p. 11, www.michaelpage.com.au (accessed 11 August 2005).
find out
more The table shows that New South Wales incomes are consistently higher
than other states across all sections of the accounting profession. In
Salary tables for
accountants working in
addition, with the current skills shortages, many employers are offering
banking and finance and incentives to get the right person. These incentives can include five
in commerce and industry weeks of annual leave, greater workplace flexibility (improved work–life
are shown in Appendixes
2 and 3 respectively. balance), and financial bonuses. Accountants are expected to work hard
to earn their salary package. More than 40 per cent of accountants work
14
The big picture
over 40 hours a week and accountants in general work longer hours

than the Australian weekly average.
Accountants can expect to work long hours not only doing their jobs,
but also to maintain education levels so they can stay abreast of
emerging trends and legislative changes.
The salaries of the Michael Page International 2005 survey are

consistent with the salaries of those accountants interviewed for this
book as the following table shows.
Approximate
No. of No. of
Age salary as
Position title years in years in
group of January
job profession
2005*
Early 20s Trainee auditor $42 000 3 3
Early 20s Audit analyst $45 000 2.5 2.5
Early 20s Trainee auditor $47 000 1.5 1.5
24 Assistant accountant $52 000 2 2
Late 20s Client manager $80 000 5 5
Late 20s Audit manager $100 000+ 3 8
29 Junior partner $90 000 4 8
29 Senior manager $100 000+ 8 8
Mid 30s Senior tax accountant $80 000 3 13
Mid 30s Finance manager $110 000 4 14
Mid 30s Finance director $125 000 9 15
Late 30s Tax agent (director) $75 000 10 13
40s Associate partner $140 000 5 17
50s Tax agent (proprietor) N/A 20 23
51 Tax agent (Proprietor) $150 000 20 25+
Career FAQs salary survey, 2005
The figures speak for themselves. Good incomes of over $80 000
generally come with five years’ experience. But it’s not just about the
money. If you are serious about becoming an accountant, you need to
know who the main employers are and what employers expect from
their staff.
15
5 years 2 years
Accounting
It’s important to find the place to work that suits you. In my case,
PwC are genuinely interested in my development and I learn a lot
from the high calibre people I work with.
Jennifer Jones, Senior manager, financial assurance, PwC
Who are the main employers?

Industry 49%
Public
Accountants work sector
in every 32%of the business community. They work in:
sector
Public Practice 32%
n accountancy practices
n corporates
n small- to medium-sized businesses
n government
n academia
n not-for-profit organisations.
The following pie chart shows the percentages of certified practising

accountants in different employment sectors.
Government 10%
Small- to medium-sized enterprises 25%
Corporates 18%
Academia 3%
Not-for-profit 2%
Accountancy practices 16%
Retired 8%
Other/unknown 18%
Sectors of employment for CPA Australia members

Source: CPA Australia, 2004 annual report
16
The big picture
Let’s have a look at some of these sectors.
Accountancy practices
Accountancy firms provide services to the public and businesses. They
range form one-person suburban operations through to specialist
partnerships, with several accountants, serving niche markets. Those
accountants working in accountancy practices often have a broad
understanding of accounting expertise and also require business
management skills to run their practices effectively and efficiently.
According to the latest Australian Bureau of Statistics figures there are

9860 public practice accounting firms (those selling their services to the
public) in Australia. Of these, 67 per cent are run by sole proprietors and
they account for 29 per cent of employment in the profession. There are
11 large practices – those with 20 or more principals or partners – which
accounted for 25 per cent of employment in the profession.
Of the 11 top accounting firms in Australia, six have their head office
in Sydney.
1 PricewaterhouseCoopers – Sydney
2 Ernst & Young – Sydney
3 KPMG Australia – Melbourne/Sydney
4 Deloitte – Sydney
5 Investor Group – Melbourne
6 PKF Australia – Sydney
7 BDO – Melbourne
8 Horwath Australia – Sydney
9 Moore Stephens Australia – Melbourne
10 Pitcher Partners – Melbourne
11 Grant Thornton – Melbourne
17
Accounting
The big four

PricewaterhouseCoopers, Ernst and Young, KPMG and Deloitte are
major accountancy firms known as ‘the big four’ as they dominate the
provision of accountancy services in Australia. According to BRW’s 2004
survey of the 100 top accounting firms in Australia, the revenue earned
by these four firms alone was over 60 percent of the total generated by
the top 100 firms.
The big four offer a full range of accountancy and business consultancy
services to governments, business and other organisations. These
services include audit, assurance, actuarial, corporate finance, taxation,
governance risk and performance improvement.
Corporates
This sector covers accountants working in a myriad of roles for big,
well-known public companies listed on the stock exchange. Examples
include BHP-Billiton, Woolworths, Telstra and Westpac Bank. It is said
that more board members of major companies have a background in
accountancy than any other discipline.
Small- to medium-sized businesses

This sector includes private businesses that have an annual turnover
under $50 million or less than 200 staff. Accountants working for such
businesses not only do traditional accountancy work such as tax,
regulatory compliance and payroll management but often also provide
input to the strategic development of the company, as well as occupying
a broad range of management roles.
Government
MYTH Accountants also play significant roles in every level of government
accounting is boring from local councils, to state departments such as health and transport,
as well as with national bodies like the Australian Tax Office and the
At entry level there can
be repetitive tasks but Federal Treasury.
accounting also opens
doors to many roles Accountants also work for regulatory bodies such as Australian
within a vast range Securities and Investments Commission (ASIC) and The Australian
fact
of industries. It also
offers a direct path to
Competition and Consumer Commission (ACCC).
management positions.
ASIC is the regulatory body that enforces and regulates company and
financial services laws to protect consumers, investors and creditors.
18
The big picture
Accountants working for ASIC might find themselves as an analyst on a

financial investigative team or a financial investigator.
According to their website, a financial investigator’s role includes

undertaking investigative, intelligence or complaint assessment
activities, and evaluating complex financial and commercial information.
The ACCC, sometimes referred to as the ‘A triple C’, is an independent

Commonwealth statutory authority that was formed in 1995 to
administer the Trade Practices Act 1974 and other acts. It aims to
promote competition and fair trade in the marketplace to benefit
consumers, business and the community, and regulates national
infrastructure services. Its primary responsibility is to ensure
that individuals and businesses comply with the Commonwealth
competition, fair trading and consumer protection laws. Accountants
at the ACCC might find themselves as a business analyst, regulator or
investigator.
glossary
What are employers looking for? Poring means:
The image of accountants as figures-obsessed number-crunchers is – means to read or study

something attentively.
long dead, or should be. Accountants today do not slave all day over a
hot calculator or spend hours poring over a spreadsheet of transactions
and balances. Rather, accountants are involved in all the intrigues of
business dealings and negotiations. They can equally be involved in
putting together the strategic plan for a business, selling a proposal to
a client, or presenting an idea to management. Accountants today need
to show that they are good communicators, have excellent negotiation
skills, and can critically evaluate situations and provide solutions.
fyi
According to the accountants we spoke to, other attributes that
The ‘Route to the Top’ study
employers value include: by Dr Elisabeth Marx of
search and selection firm,
n discretion about sensitive and confidential information Hanover Fox International
in Britain shows that more
n ability to develop a rapport with clients
than four out of ten of the
UK’s largest publicly-listed
n having an ethical and professional manner.
corporations are now
run by individuals with an
Accountancy is a dynamic work environment that requires highly-skilled,
accountancy or finance
professionals who can contribute to the profitability and success of the background, almost double
company they work for. the number of 1996 – www.
management-issues.com
(accessed 16 August 2005)
19
Accounting
Meet an employer
Perhaps the best way to find out what employers want from their people
is to ask an employer directly.
Lisa Geerlings – National manager, attraction

and resourcing
As the national manager, attraction and resourcing at KPMG - one of the
big four accounting firms - Lisa is well placed to know what employers
are looking for from their staff.
Lisa is responsible for developing strategies for recruiting the best staff
and developing a strong company culture that encourages people to stay
with the firm. The KPMG culture of putting people first through open and
fyi honest communication is the first step in the process, she says.
q&a
KPMG International
is a global network of
professional services firms
that provide audit, tax
and advisory services. What do you think are the job prospects for accountants right now?
The job opportunities are excellent at the moment. Everyone is talking
In Australia, KPMG delivers
services from 14 different about the ‘skills shortage’ in Australia and there is also a worldwide
offices around the country. shortage of accountants. There are just not enough good people
They also operate in 717 graduating from university to meet the demand.
different cities in 148 countries
around the world. There This is partly because there has been a steady decline in the number
are 300 partners and 4000 of people graduating with majors in accounting relative to the number
employees in Australia – many of positions on offer.
of whom are accountants.
Over 94 000 people work in There is also more work around for accounting firms since the collapse
the KPMG global network. of big organisations like Enron and WorldCom which resulted in
changes to the regulatory environment. The community is seeking
much greater assurance about the actual financial state of companies,
and of course accountants have a very important role to play in
providing that assurance.
All of which adds up to lots of opportunity and excellent salaries for
accountants at all levels both here in Australia and overseas.
What types of accounting jobs can people do at KPMG?
We have such a wide diversity of roles it’s hard to describe them
all. Broadly speaking our accountants work in the area of tax, audit,
risk advisory services, middle market advisory, forensic, restructuring
services, and transaction services.
What are you looking for in accounting professionals - qualifications,
experience, attitude about work, people who can fit in with the
workplace culture?
20
The big picture
At KPMG we’re open-minded about people. Because we have such

variety of work we look for diversity in our people.
As far as qualifications go, business or commerce degrees majoring
in accounting are definitely in the greatest demand. We also take
people with other qualifications in a wide range of areas for example
engineering, finance, law or property/construction but this is a less
common path. I would strongly recommend people considering a
career in accounting to visit the websites of potential employers and
investigate the qualifications required.
When KPMG is considering students for our cadet or graduate
programs we look for well-rounded people. Any experience (school,
part-time work, sport, or community involvement) can demonstrate
that a candidate has relevant skills. For example, part-time work in
retail could show that someone has the ability to work in a team or
handle difficult people.
When considering experienced candidates technical excellence is a
given, since we take great pride in the quality of our work at KPMG.
But technical excellence is only a part of what makes someone
successful at KPMG so we also look for people who can work well
with clients and colleagues, and who show leadership and integrity.
Our culture is all about putting people first through open and honest
communication, cooperation, integrity, leading by example, respect for
individuals, and commitment to our communities.
How do you suggest people go about getting into accountancy?
The first step is to complete a relevant degree that will help you gain
the required professional membership.
Cadetships are very popular way into the profession - if you’re a cadet
at KPMG we sponsor a lot of the costs of going to university and you
get great experience.
Vacation work can also give you good experience and is a chance to
see what you like and what you are good at.
I would strongly encourage anyone interested in accounting to attend
graduate fairs and talk to different firms about what they have to offer
and think seriously about what is important to you.
What do you feel young people should know about the profession?
There are endless opportunities in accounting, and it is the best
grounding you can get for a career in business. Whether you end up
loving it and staying in a professional services firm or whether you
choose at some point to go out into industry you really can’t go wrong.
Leaders of some of the biggest companies in Australia started as
graduates at KPMG. And you don’t have to be a brilliant mathematician!
21
Accounting
What personal attributes suit accountancy work?

Good accountants have questioning/investigative minds and don’t
just take things at face value – they need to be able to analyse
information and solve problems. They then need the integrity and
strength to give clients honest advice, even if it’s not an easy message
to deliver.
At KPMG you have to be good at dealing with people. Although
we are a large firm our day-to-day work is very team-based and
those teams change as you move from job to job, so things like
communication, flexibility and cooperation are vital. Of course this
applies equally to our clients – they are people too.
A high quality of work is required, so people who take pride in their
work and have good attention to detail are likely to do well.
Do you have a graduate recruitment program? How does it work?
We have an extensive and constantly expanding graduate program
that we promote by attending university fairs and careers’ events to
talk about what KPMG has to offer. We take our young accountants
along to those events so that candidates can ask questions and get a
feel for what working at KPMG is really like.
Graduates apply online through our website which also provides lots
of useful information. For example there is information about what
different groups within KPMG do, tips for how to be successful at
interview, and descriptions of what we are looking for in a person.
Although applying for jobs is always a bit stressful, we really try to
make our process as open and friendly as possible. We don’t want to
miss a good candidate just because they were nervous. The interview
process isn’t designed to trick people; our interviewers are trained to
focus on helping you show what you’re capable of achieving.
It’s not just about us measuring you up to see if you’re right for a job,
it’s a two way process. Throughout the functions and events in the
graduate recruitment process you get to spend plenty of one on one
time with people from the areas where you might work so you can
make a good judgment about what’s right for you.
How many graduates apply each year?
In New South Wales we had 2000 applicants for our graduate program
and 350 for our cadet program. We also offer vacation work for
university students, which is a great way to get experience and see
how you like both accounting and KPMG.
Most of our vacationers are offered graduate roles with us when they
finish their degrees, and most of them accept so that’s an excellent
way to get ahead of you peers in terms of securing a graduate role.
22
The big picture
What’s the best thing about working in the accounting profession?

find out
I am not an accountant but I would say working with bright, intelligent
and motivated people who want to learn, contribute and make a
more
www.kpmg.com.au
positive impact.
Any negatives?
Like any professional job there are times when you have to work more
than the standard 38 hour week, but there are also quieter times
when you can redress the balance so that’s not so bad. I think one of
the greatest challenges for our people is that the peaks and troughs
can make it a challenge to stick to a routine.
Can you tell us a common myth and what you think the reality is?
Contrary to popular belief, accountants are not boring! I have never
worked in such a fun and social workplace as KPMG. It’s a very young,
vibrant and social environment.
detour
People are also encouraged to do ‘out of the box’ things like fly
to Hawaii to work on a project, answer phones in the Red Cross Want to work overseas or
State Inquiry Centre (during disasters like the tsunami and Canberra work for a good cause?
Check out Career FAQs
bushfires), even go on an Earth Watch Fellowship to live on a remote Save the World.
island in Queensland tagging koalas. www.careerfaqs.com.au
23
Accounting
What support organisations exist?

There are three main accountancy bodies in Australia. In addition, there
are special-interest organisations and global institutions that service
the accounting profession.
Main accounting bodies

Based on membership numbers across Australia, the three biggest
professional organisations for accountants are CPA Australia, the
Institute of Chartered Accountants in Australia (ICAA) and the National
Institute of Accountants (NIA).
They provide accreditation for accountants that indicate a high level

of technical proficiency, know-how and experience over and above a
tertiary education. Accountancy organisations help new members gain
additional, practical experience in the field alongside an established
and senior member from the organisation.
Beyond accreditation, accountancy organisations provide a range

of services to their members including ongoing education (often
compulsory), professional development more generally, networking
opportunities, practical resources and workshops, and updates
on legislative or other changes effecting the profession. They also
represent their members in discussions with governments, regulatory
and other bodies. This can involve advertising the ‘brand’ or
organisation to help members get jobs and business.
They also maintain discipline and ethical standards of members to

ensure and maintain the good name and reputation of the organisation.
CPA Australia
Even though it can trace its origins to a number of professional
accounting associations that were established in the 1880s and 1890s,
CPA Australia was officially incorporated in 1952. CPA Australia now
has 105 000 members which makes it Australia’s biggest professional
accounting organisation, and the sixth largest in the world. Of these
members roughly 24 000 are currently living and working overseas.
The ACT has 3000 CPA Australia members; New South Wales has 28 000.
For people interested in a career in accounting, the CPA Australia

Passport program is open to students at university, TAFE, polytechnic or
college at no cost.
24
The big picture
Passport members are entitled to:
n the use of the CPA Australia library (one of the largest business
libraries in the southern hemisphere)
n discounts on industry publications and textbooks as well a subscription

to an accounting magazine for students called Real Business
n access to the CPA Australia website (including 7500 member-only

pages covering industry reports, business tools etc.)
n attendance at graduate recruitment evenings where they have access

to employers and recruitment agencies as well tips on interview and
application procedures.
Passport members can also apply for a three-week work-experience

program with a leading organisation in Australia or overseas which will
be facilitated by CPA Australia.
Students interested in working in Asia when they have graduated can

also attend workshops about the opportunities in the region and where
to find them.
Institute of Chartered Accountants in Australia

The Institute of Chartered Accountants in Australia (ICAA) was
constituted by Royal Charter in 1928 and represents more than 40
000 members. It is another of Australia’s top three accounting bodies.
Members are called chartered accountants (CA). There are 700 CAs in
the ACT and 15 500 in New South Wales.
High school and university students can keep generally informed about
chartered accounting through the student-focused website ‘Fly Higher’.
It includes information on how to become a chartered accountant, as
well as a ‘Jobs Lounge’ for any student seeking part-time or graduate
employment. Students can register to the website to receive automatic
information updates on what is relevant to their year of study, and can
also set up job alerts to be notified of any employment opportunities
that match the criteria they have selected.
All students registered to the ‘Fly Higher’ website automatically receive

a newsletter targeted to their year of study. The newsletter includes
details on CA campaigns, tips from employers, profiles of chartered
accountants, competitions, and other information relevant to students
studying accounting. This newsletter is produced and emailed to
students on a quarterly basis.
25
Accounting
As well as this newsletter, students receive regular email updates

about events, campaigns and information relevant to their year of study
in accounting.
The ICAA also runs several student-focused campaigns throughout the

year, targeted at different university levels.
The first-year university student campaign is a nationwide initiative called

‘CA Achiever’. The ICAA, with employer participation, selects top first year
accounting students to be placed in a CA accredited firm for a two to six
week paid work placement, typically during their summer break.
The CA vacation campaign is a similar campaign to CA Achiever but is

targeted at second-year students. This campaign is run in New South
Wales (ACT students have to travel to Sydney) and includes an evening
event where students get to meet potential employers.
The third key activity for university students is the CA Graduate

Employment campaign. The focus of this program is CA employment
evenings held in Perth, Melbourne, Adelaide, Sydney and Brisbane.
The events include an employer exhibition and information sessions
targeted at students wishing to gain graduate employment the following
year. Students also receive a guidebook containing details of available
graduate positions.
National Institute of Accountants

The National Institute of Accountants (NIA) is Australia’s third biggest
national accounting body with a membership of 14 000. It was formed in
1923 and like the other major accounting groups provides an accreditation
system and network for accountants operating in Australia and overseas.
There are 268 members in the ACT and 5738 in New South Wales.
The NIA has a Student Register which is open to any student enrolled
in accounting from secondary school through to the completion of an
Undergraduate Degree or TAFE qualification.
For an annual subscription fee of $33, students can join the NIA Student
Register as a full student member and have full access to all the benefits
and services that the program offers.
This includes:
n subscription to a range of NIA publications including National

Accountant (the NIA’s bi-monthly journal), Directions (a student
newsletter), and e-Statements (an email newsletter for NIA members)
26
The big picture
n unrestricted access to the NIA website, including access to the

discussion forums, Australian accounting standards and technical
resource library
n access to a mentoring and work experience program
n discounted or free entry to networking opportunities including NIA

social, careers and professional education activities
n waiver of nomination fee on upgrade to Associate member on

completion of studies
n Special Graduate Associate Fee for first five years for students who
upgrade to Associate within six months of graduating.
Students can also join the NIA Student Online Register free of charge as
an online student member and have access to a range of the benefits
find out
that include:
more
n subscription to Directions CPA Australia
www.cpaaustralia.com.au
n online access to NIA’s publications: National Accountant, Technical
www.cpacareers.com.au
Advantage and e-Statements
ICAA
n limited access to the NIA website, including access to the www.icaa.org.au
www.flyhigher.com
discussion forums
NIA
n notification of networking opportunities including NIA social, careers www.nia.org.au
and professional education activities.
Other accounting bodies

Apart from the three major accounting organisations, there are many
specialised organisations for different sectors of the profession and
ones that have a more international focus.
Accounting and Finance Association of Australia

and New Zealand
The Accounting and Finance Association of Australia and New Zealand
(AFAANZ) is the premier body representing the interests of accounting
and finance academics and other persons interested in accounting and
finance education and research in Australia and New Zealand.
Members include academics from universities and other tertiary

institutions as well as professionals from major corporations, business
houses, banking, finance and investment bodies.
27
Accounting
The AFAANZ primary publication is the journal Accounting and Finance.

The journal distributes the results of research and other scholarly
enquiries. Published tri-annually, the journal is available through
subscription. A newsletter is also produced tri-annually.
AFAANZ’s website has a job advertisements section.
Chartered Institute of Management Accountants

The Chartered Institute of Management Accountants (CIMA) is primarily
based in London and has 65 000 members and 85 000 registered
students across 156 countries. There are 2000 members within Australia.
CIMA works with employers and course providers around the world
to educate, train and qualify financial managers. CIMA offers an
internationally recognised professional qualification in management
accountancy, ‘accounting for business’.
National Tax and Accountants’ Association Ltd

The National Tax and Accountants’ Association Ltd (NTAA) was formed
1992 on the basis that tax advisers, tax agents, accountants and people in
business need an association that is strictly dedicated to helping them solve
their tax, and business/legal problems. The NTAA is a non-profit, educational
institution providing tax advice and education to its 8000 members.
The NTAA produces a monthly newsletter for members on taxation

issues called Voice.
28
The big picture
Association of Chartered Certified Accountants

The Association of Chartered Certified Accountants (ACCA) is a global
professional accounting body with over 300 000 members and students in
160 countries. Established in 1904, ACCA’s head office is located in London.
ACCA members may use the designation ‘chartered certified accountant’

and the acronyms ACCA (member) or FCCA (fellow). Attaining the ACCA
professional scheme qualification entails passing a series of globally-
uniform examinations based on a comprehensive syllabus.
On the whole, ACCA operates in Australia to service its members who

work here on a temporary or permanent basis. It has less appeal for
students who plan to spend the majority of their career in Australia but
would suit those planning to move overseas after graduation. The ACCA
has a strong presence in Africa and China.
ACCA also helps foreign accountants find work in Australia.
Institute of Certified Management Accountants

The Institute of Certified Management Accountants (IMCA) is a growing
organisation with 2000 members aiming to be the premier body of
professionals practising the science of management accounting.
find out
The IMCA promotes and develops the field of management accountancy
by fostering research, communicating new ideas and knowledge to more
members as well as promoting education and training within the field. www.aaanz.org
www.cimaglobal.com
The IMCA publishes the Journal of Applied Management Accounting www.ntaa.com.au
Research (JAMAR) and a bi-monthly newsletter. www.accaglobal.com
www.atma.com.au
www.imanet.org
Association of Taxation and Management Accountants www.aasb.com.au
The Association of Taxation and Management Accountants (ATMA) is
an independent association of professional accountants. With the head
office in Sydney, Australia, it has branches in Hong Kong and Singapore.
This association promotes the welfare and professional development
of its 1000 or so members who predominantly are made up of small
business accountants, both suburban and country practitioners who
focus on taxation. Members also include management accountants in
commerce and accountants working in government.
29
Accounting
find out Australian Accounting Standards Board

more The Australian Accounting Standards Board (AASB) is a Commonwealth
www.aaanz.org
agency that is responsible for setting standards in the private and
www.cimaglobal.com
public sectors in Australia. The setting of accounting standards involves
www.ntaa.com.au
www.accaglobal.com a Financial Reporting Council (FRC) which oversees the accounting
www.atma.com.au standard setting process. It comprises of key stakeholders from
www.imanet.org professional accounting bodies, governments and regulative authorities
www.aasb.com.au and governments.
30
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Insider info
What jobs could I do?
Modern day accountants perform a variety of roles. Be they public,
private or charity-based, large or small, in cities or country areas; all
organisations have a demand for accountancy services. The good news
for prospective accountants is that this demand is not currently satisfied
and for the foreseeable future the chances of finding well-paid and
satisfying employment are very good.
The following is a list of some of the accounting jobs featured in

this book.
n Trainee auditor
n Audit analyst
n Assistant accountant
n Senior consultant (advisory)
n Client manager
n Audit manager
n Senior manager (financial assurance)
n Junior partner

from Career FAQs for FREE? Click here 35
Accounting
n Senior tax accoutant
n Finance manager
n Finance director
n Director
n Associate partner
n Proprietor
n Sole proprietor
n Business manager (Zurich)
n Accountant (Greenpeace)
36
Insider info
As a rough guide for understanding the differences in these jobs that

range from auditing, to financial management to business management,
a brief description of each is helpful.
Auditing is a review to determine the accuracy and validity of financial

statements, records and reports to make sure that they comply
with established accounting policies. An audit is an opinion from an
independent party that says whether an organisation’s accounts fairly
represent its true financial position.
Financial accounting is a major field of the accounting profession. It

involves the preparation of financial statements – including the profit and
loss and balance sheets for an organisation. This information relates to a
past period and must be an accurate and truthful representation of it.
Management accounting is an area of the profession that focuses on

management issues, for example, providing financial information and
future estimates which are used to help make decisions within an
organisation. The information is for internal use and aids planning and
control, and also supports the implementation of cost-effective strategies
for an organisation. Many chief executive officers and chief operations
offices of multinational companies have accountancy backgrounds.
Accountants working in the profession are quick to point out that it’s a
fast moving and dynamic career choice that can lead to a wide range of
employment options. It is a myth that accountants are boring and lack
personality – if anything they need to be the opposite. In today’s world
accountants are technically competent, outgoing, confident and above
all they need strong communication skills to underpin effective and
successful relationships with clients and fellow workers.
37
Accounting
What do real people say about

their jobs?
What do people working in these jobs have to say about their career/
work? Some of the people interviewed asked to remain anonymous so
they could talk more freely about their jobs. An * next to the person’s
name indicates the name has been changed.
cv grocery deliveries Roberta Chan* – Trainee auditor

>> McDonalds >> Kmart
Roberta is in her early 20s and works as a trainee auditor with a
customer service
statutory authority. She began work with the government body over
>> trainee auditor
three years ago when she successfully applied for the position of audit
clerk while studying for her HSC. Roberta is also doing a bachelor of
business at university.
Working while at school equipped Roberta with ‘customer service skills

as well as time management skills’. Roberta believes it is a myth that
the private sector is better than the public sector. ‘The reality is that
they both have their advantages and disadvantages,’ she says.
What do you like best about your career?

The fact that I get to meet new people and move around different
department areas.
What do you like least?

Some people’s perception that auditors are ‘out there to get you’. It
can make our work difficult at times.
What do you wish someone had told you about the job/industry
before you started on this career path?
It just gets harder – not easier.
Does this job allow you to achieve the work-life balance that suits
you now?
Yes. Undertaking a university degree while working as an auditor is
providing me with a balance of knowledge and experience, which is
of great value. My employer has also implemented flexible working
conditions that allow me to take study leave when needed. This takes
away some of the pressures felt when studying and working at the
same time.
38
Insider info
What type of person do you think best suits this industry?

in
You must have good communication skills. In the old days auditing,
and accounting for that matter, were all about the books. However, in brief
this day and age if you’re not a good communicator then you’re Trainee auditor with a state
government authority
in trouble!
$$$ 42K
Commitment is also important. When you’re working with a budget, quals
HSC, currently
deadlines and in a team environment than you need to be committed studying for a
Business degree
to your work.
hrs/wk 35 – 40
What do you feel young people would like to know about plus study 14
the industry? life–work good experience

and manageable
The money that the industry offers and the growth potential of the
flexibility fl exitime and
industry compared to others. study leave
myweek
monday tuesday
8.00 – 9.00 Respond to emails and fill in 8.00 – 4.30 Work tasks depend
the destinations database that lets on time of year
everyone know my contact details Around May it is interim
9.00 – 4.30 Work on outstanding tasks audit or planning work
If working on a big job I often This involves getting an
have a workstation in the client’s understanding of the type of
office. If not I work from the office, business we are auditing, the
which means I have to schedule accounting controls used and
and attend meetings with clients the type of risks they face
5.30 – 8.30 Lectures and tutorials 5.30 – 9.30 Study and assignments
wednesday thursday
8.00 – 4.30 Work on tasks 8.00 – 4.30 Work as determined
July to September is the busy by time of year
time of the year – there is no Every two months we have
recreation or flexitime leave department-wide meetings
Our major work tasks involve so everyone knows what
testing the end of year financial everyone else is doing
statements to ensure they are true We also have team meetings every
and fair – checking that accounting three weeks to assess how particular
systems employed are suitable jobs are going and to raise any issues
and adequate for the business 5.30 – 9.30 Study and assignments
5.30 – 9.30 Lectures and tutorials MYTH
accounting is all
friday weekend
about numbers
8.00 – 4.30 Continue with tasks Saturday and doesn’t require
8.00 – 4.30 Continue with tasks.
a personality
12.00 – 3.00 Study and assignments
3.30 – 6.00 Audit work – so I don’t Accounting today is
get behind during the week like any other service
industry. Accountants
Sunday need an open personality
fact
and must be able to

2.00 – 4.00 Audit work
communicate well with
4.30 – 8.30 Study and Assignments clients and colleagues.
39
Accounting
cv accountant (real
Jack Turner* – Audit analyst
estate firm) >> graduate Jack is an audit analyst with Deloitte. He worked with a real estate
program (Deloitte) agent in charge of their accounting area for roughly one year. After this
he started at Deloitte with their vacation program. He was offered a
graduate position and has been an analyst for two and a half years. He is
working towards his CA qualification. The salary for his position is based
on experience and varies from $40 – 50 000.
q&a
Briefly describe a particularly interesting matter/project you have been
involved in.
In a profession like auditing you really do get to see a diverse range
of businesses. One that springs to mind is an aircraft leasing company
(one of the largest in the world), that leases large commercial aircraft
to airline operators like Qantas and American Airlines. Without going
into too much detail, the aviation industry is definitely a unique and
fascinating industry that really opens up your eyes to what goes on
behind the scenes.
Does this job allow you to achieve the work-life balance that suits you
now? Can you describe that balance?
Deloitte is definitely a firm that supports work-life balance. Over the
past two years I have never had any problems maintaining a balanced
lifestyle. Although it’s quite busy during the tax season. I play touch
football on Monday and dragon boat race on the weekend. Work has
never got in the way. Working in a profession such as auditing means
planning your time is very important. If you’re committed enough to a
balanced life, there’s nothing to hold you back.
in What type of person do you think best suits this industry?

brief You have to be a team player, able to work under pressure and have
Audit analyst with one
good communication and social skills.
of the big four
What is the best thing you think you can do for your career?
$$$ 40K – 50K Travel and work overseas and obtain broad experience.
quals Business degree,
working towards CA How has the industry changed in the time you’ve been in it?
hrs/wk 40 With many corporate collapses in recent years the regulatory/
life–work yes, firm supports it governance framework has tightened and great responsibilities
flexibility y es, but planning are placed on auditors. Also, in the past year we have seen the
is important
introduction of the International Accounting Standard.
40
Insider info
myweek
monday – friday weekend
Morning Saturday
n Respond to emails that have n Might spend an hour on work
accumulated over the weekend but generally tend not to
n Dragon boat training
Afternoon – varies: n Movie with friends
n Head out to client with team
n Have planning meeting with client Sunday
n Discussions and meeting n Dragon boat training
with team members n Touch football training
n Perform audit of client
n Dinner with family
n DVD with friends
Will Yan* – Trainee auditor cv marketing and sales

>> trainee auditor
Will is a trainee auditor with a government department. He started the
job straight after completing a Bachelor of Business at the University
of Technology, Sydney. While at university Will had part-time jobs in
marketing and sales. He is currently undertaking the CA Program to
become a qualified Chartered Accountant. The average salary for his
position is $47 000.
q&a
My job gives me great flexibility for a work-life balance. I am learning
a lot through training and support of my colleagues and have been
given opportunities to take on responsibilities above my position
description. An accounting job isn’t as boring as it was perceived to
be years ago. You socialise and do a lot more things outside of work
than you would think.
Having to study and work at the same time is a bit stressful as the CA
requires a lot of dedication and commitment.
As mentioned before, work-life balance is very important in my office.
Staff are encouraged to do things outside work and maintain their
personal commitments. We have flexitime, which means that when we
work over the standard hours, we can take this time off in future
quiet periods.
41
Accounting

A person must be willing to learn and be committed to a lot of
training throughout their career. Accounting is an ever-changing
in industry and we constantly need to stay focused and learn new
brief things. I think it’s important that a person remains motivated with
Trainee auditor in government
their job and has a positive approach. Most of the work I do is in a
team environment. Good team players are crucial in this industry.
$$$ 47K
quals usiness degree
B Has your job/career turned out the way you expected?
life–work good support Not really. Everyday has different challenges and more to learn. I think
flexibility great that’s the best part of the job because it can give you an edge for the
rest of your career.
myweek
monday tuesday
8.30 Fill in time sheet for prior week and 8.30 Continue work from prior day
continue work from prior week 11.00 – 1.00 Schedule meetings
11.00 – 1.00 Schedule meetings with clients to discuss work
with clients to discuss work and write up working papers
2.00 – 5.00 Continue audit work and 2.00 – 5.00 Continue audit work
discuss progress with senior staff Work is conducted from head
This involves going over the office and at client’s offices
accounts of the organisation and Assess and test
ensuring that they comply with legal accounting procedures
obligations and industry standards
wednesday thursday
8.30 Continue work from prior day 8.30 Continue work from prior day
11.00 – 1.00 Draw up working papers 11.00 – 1.00 Audit work
if no meetings scheduled 2.00 – 5.00 Continue audit work
Attend meetings 8.30 Continue work from prior day
wherever necessary
11.00 – 1.00 Audit work and
2.00 – 5.00 Continue audit work plan for next week
2.00 – 5.00 Continue audit work and
discuss progress with senior staff
friday weekend
8.30 Continue work from prior day Rarely need to work on weekends
11.00 – 1.00 Audit work and May need to prepare for training
plan for next week courses but that is all
2.00 – 5.00 Continue audit work and
discuss progress with senior staff
42
Insider info
Toby Lonnquist – Senior consultant, advisory cv big mac burger
Toby works in the Valuations and Strategy business unit at PwC. He’s flipper >> coffee shop
been in this job full time for the past 12 months. With his part-time job attendant >> tutor >>
as an accountant while at university, he has worked in the profession for accountant, insolvency
two and a half years. and corporate recovery >>
senior consultant, advisory
q&a
What do you do in your job?
My job is about value – valuing any asset or company and also
coming up with strategies to increase value.
How did you get your first job after graduating?
I got my first job through graduate recruitment. I had to apply in my final
year of uni to begin work the following year. Most of the larger firms I
was applying to had an online application process over the Internet.
It’s important to start planning early and have a list of companies
you want to apply for and their application deadlines. It also helps
speaking to students who went through the process the year before.
When did you commence the CA Program? Was it organised through
PwC or is it something you have to organise yourself?
I commenced the CA Program last year (beginning of 2004). It is
organised through PwC, although I wanted to begin straight away so
I had to enrol before actually starting work at PwC. I therefore had to
take the initiative to organise the enrolment in the first subject myself,
however PwC provides financial support.
How long is the program and where are you now? How flexible is the
program? Do you have to have a job in accounting?
You have to be working while you are completing the CA. The program
takes a minimum of two years. However, before you become qualified,
you must have had a total of three years work experience under the
guidance of a qualified CA.
The program involves completing five subjects. The fifth subject
integrates the first four. The other four subjects can generally be taken
in any particular order.
How different is the CA Program from studying accounting at uni?
It’s very different from university coursework in some ways but similar
in others.
Each subject requires you to attend four fortnightly tutorials, for which
you have to prepare about 20 pre-set questions. Each question may
require 30 minutes to two hours preparation (depending on the length
of the question).
43
Accounting
The classes are in the evenings midweek so it’s work during the day,
attend class at night. The other option is to do the work intensively
over
two weekends.
Similar to university you have a group assignment to complete. You
don’t get to choose your group though.
There is an exam at the end of the subject, which accounts for 50 per
cent of your mark.
You have to pass both the exam and the non-exam components of
the subject.
The main difference between uni and the CA Program is that the
CA Program is more practical and during discussions in the classes we
are able to draw on the every day working experiences of the teachers
and the students, who are both accounting practitioners.
What is the salary package for a job like yours with your level
of experience?
$55K – $75K.
What do you like most about your job?
The challenge, the involvement with high-profile clients, the breadth
and depth of skills you learn, the friendships you make and the
professional networks you build.
Having to leave on a Friday afternoon! Just joking. Time just flies by
so fast.
What interesting project have you been involved in?
I was recently involved in a valuation project for a large international
music company. We were required to value their recording and publishing
businesses as well as their copyrights and licensing agreements. It was
interesting seeing how the businesses operate and what drives their
value. I’ll never be able to listen to music the same way again.
in
brief What do you wish someone had told you about accounting before you
Senior consultant, advisory started on this career path?
$$$ 55K – 75K That there is no such thing as a stereotypical accountant and
quals A IT, Bond;
B no single role that an accountant can play. Accounting gives you
BA Comm, Bond; a fantastic overall business grounding to attack any issue in a
MA Acc, Bond;
Completing commercial context.
CA Program
How does your job allow you to achieve the work-life balance that
hrs/wk 40 – 60
suits you (if it does)?
life–work great, we are
encouraged to We work on projects that typically last four to six weeks. Providing
enjoy life outside of we are getting our work done and meeting client deadlines we are
work and at work
encouraged to have a life outside of work as well. The firm also
flexibility y es, as long as
we plan for it organises a number of social events and sporting activities (for
example participating in the Winter Corporate Games at Thredbo,
44
Insider info
Corporate Rowing regattas, and regular Friday night functions).
myweek
monday – friday evenings & weekend
n Industry research and analysis looking at I love:

growth prospects and market dynamics n Catching up with friends and family
n Company research
n Rowing, running, going to the gym
n Financial analysis of companies
I spend about 10 hours a week on study.
looking at historical performance
and growth prospects
n Discussions with management
regarding company operations,
performance and value drivers
n Financial modelling
n Report writing
cv p/t lettuce roguer
>> p/t video store
Amanda Hammond – Financial accountant attendant >> p/t production

liner >> accountant >>
Amanda works for De Bortoli winemakers and has worked in the financial accountant
position for the past two and a half years. She loves working in the wine
industry and enjoys the social events (and the wine).
q&a fyi
A roguer is a person
What jobs have you had that lead to your current position? who examines crops for
Whilst at university I only looked for employment during my holidays. pests and disease.
This included roguing and chipping lettuce at South Pacific Seeds,
working for our local video shop, working on a production line at Bartters
and work experience at an accounting firm Higgins Plos Consulting.
What’s your job title? How long have you worked in this job? How long
in accounting?
I am the financial accountant at De Bortoli Wines and have in this job
for two and a half years. I have been working full time since finishing
university in July 2000.
What does this job involve?
I am in charge of administering our overseas branches and reporting; head
office and branch capital expenditure; fixed assets; superannuation; FBT;
payroll; preparing year end financial statements; monthly reconciliations
and BAS. I report directly to the financial controller and I’m constantly glossary
busy but have a wide variety of work to keep me interested.
FBT means:
Is there a large accounting section at De Bortoli? – fringe benefits tax
De Bortoli has quite a small accounting team. There are six of us
BAS means:
including the financial controller. We all have our set areas of expertise
– business activity statement
so there is no treading on each other’s toes. The wine industry is
exciting to be a part of, with its fast pace and high growth there is
45
Accounting
always something interesting happening.

What qualifications do you have? What university?
I completed my Bachelor of Commerce at the Australian National
University in Canberra in June 2000. I started the CPA program when
commencing work at De Bortoli Wines and completed it in June 2005.
How did you get your first job after graduating? If graduate recruitment,
can you describe the process? E.g., how and when did you have to
apply? Did you have to start the process before your final year?
I was offered a full-time position at Higgins Plos Consulting during
my final mid-semester break. I had been working there on and off
in my holidays and was absolutely stoked when they offered me a
permanent position after I graduated.
When did you commence the CPA Program? Was it organised through
your employer or is it something you had to organise yourself?
I started the CPA program in February 2003. I organised it myself,
however, as part of my employment contract at De Bortoli Wines, I
was encouraged to complete my professional studies.
How long is the program and where are you now? How flexible is
the program?
At the time I commenced the CPA program I only had to complete five
modules: two compulsory and three electives. I took on one subject
a semester until they were completed two and a half years later. The
program is flexible to a certain extent – you have five years to complete
the program. Having only one exam at the end of each subject enables
you to plan your study time up to 12 weeks ahead of time.
How different is the CPA program from studying accounting at uni?
The CPA program enables you to build from any prior knowledge
gained at Uni and to draw from practical experiences in the workplace.
I found that the program brought everything into perspective. It’s not
that different from uni in having to juggle work, a social life and study.
At times it was hard to get the right balance.
What did you like best about doing the program?
I found the program to be more suited to accountants working in
industry through the wide range of modules it offered. I also liked its
style of distance education.
What is the average salary package for this type of job?
Varies from company to company but my salary is appropriate to my
position and qualification.
Two areas I like most about my job are the diversity of work and the
high level of responsibility. I also enjoy the social events, especially
the wine.
Office politics, fixing errors of any type especially IT errors and when
46
Insider info
people abuse the system. in

What do wish someone had told you about accounting before you brief
started on this career path? Financial accountant
There was nothing I wanted to know really. I always wanted to work in $$$ Commensurate with
industry standards
finance/accounting since I was a young girl.
quals Comm, ANU
B
How does your job allow you to achieve the work-life balance that hrs/wk 40+
suits you? life–work seasonal
Wouldn’t we all love to work from 8.30 to 5.00 Monday to Friday? flexibility better in summer
There is a great work-life balance over the summer months but during
winter we have to put in the hard yards. Every winter is long and
drawn out, but I guess that is part of being in the finance industry.
myweek
monday – friday evenings – weekend
n ush to get to work on time 8.30 am.

R n eekday evenings I try to relax, exercise,
W
n Log onto computer system check to socialise and forget about work.
see if all transactions posted overnight. n I choose to go into work on weekends
n Read e-mails sent from overseas during the busy periods so I can get
companies and reply. ahead, it is usually only for half a day and
I feel so much better for it. The rest of
n Follow up any other messages. my weekend time is spent enjoying life.
n Delegate work to others when necessary n I enjoy tennis and going for long walks,
and help when sort after (an all day chore). playing with my golden retriever Millie,
n After morning tea I usually get time to going for coffee or dinner with friends
start my work for the rest of the day and of course spending time with my
either project work, problem solving boyfriend and other family members.
or completing monthly tasks.
n Then I’m guaranteed to have constant
interruptions throughout the rest of my day
like meetings, phone calls, e-mails and
requests from my Boss and team members.
n Before I go home I plan my work for
the next day and usually tell my boss
where I’m up to with my work and what
else has been happening throughout
the day that he might find of interest. I’m
usually leave work around 6.00 pm.
Alexandra Blok – Assistant manager, cv accountancy cadet

KPMG forensic >> p/t retail assistant – f/t
university >> accountant
Alexandra started working with KPMG on their cadet program after
>> assistant manager
her final year of high school. The cadetship gave her valuable work
experience while she was studying at university – and money! She
works in the forensic division which specialises in helping clients with
commercial litigation and disputation, the threat of fraud and other
illegal activities.
47
Accounting
q&a
What does your job in forensics involve?
My main role at the moment is fraud risk assessment. I run workshops
for clients. I also am involved in fraud investigations. For example where
a company has a concern about petty fraud with an employee siphoning
off money I would look at things like invoices and receipts and verify
them against source documentation. People sometimes create false
documentation so you sometimes have to call suppliers to check that
documents are real. I would then write a report on my findings that is
then presented to the client to show what we have discovered.
I am currently working on a job in a big company where a fraud has
taken place – looking at all the documents and emails on people’s
computers and reviewing those to try and find links to the people who
were involved in the fraud.
And lastly, I conduct training courses (such as in-house CA Program
training sessions), and I help out the HR team with recruitment of
cadets and graduates.
How long have you worked in this job?
Since November 2004.
Forensic accounting involves project-based work, which means that no
two jobs are the same and you are always learning something new.
Work typically involves assisting clients with a problem and reporting
factual findings. This means we have an opportunity to really help our
clients solve problems in their business.
KPMG Forensic operates as a national practice, so we work from the
relevant state office where an engagement is. This allows a lot of
scope for travel within the Asia-Pacific region.
Winning engagements and sourcing work requires that we work on
business development. This gives us the opportunity to extend our
normal day-to-day activities into different areas such as marketing
events, presentations to industry and training workshops for clients.
Early Monday mornings – especially in winter! Seriously, the
unpredictable nature of project-based work means that you are
constantly shifting your priorities at a moments notice.
What interesting project have you been involved in? Can you tell us
why it was interesting and what you did?
I have recently become involved in conducting fraud risk assessment
workshops. These workshops involve assessing the inherent fraud
risks of an organisation; identifying the existing internal controls in
place to prevent, detect and deter these risks from occurring; rating
48
Insider info
each of the risks; and finally, developing mitigation strategies where

gaps in internal controls exist.
These workshops make you think outside the square and force you
to view an organisation from the eyes of a fraudster. The outcomes
of each assessment are different for each client and provide our
clients with practical suggestions to improve these fraud risk
management procedures.
What qualifications do you have?
I completed my Bachelor of Commerce degree (majoring in Accounting
and Business Law and Taxation) at the University of New South Wales.
A semester of my study was spent on exchange with the University of
British Columbia in Vancouver, Canada.
I recently qualified as a Chartered Accountant and am now a member
of the Institute of Chartered Accountants in Australia.
You mentioned you started as a cadet? Can you tell us a little about
how that works?
In my final year of high school I attended a number of information
sessions where past students were invited to speak about their
studies and work. One of the speakers was a KPMG cadet! After the
presentation I bored her with a million and one questions about the
cadet program. I then approached my careers adviser who put me in
contact with the KPMG undergraduate recruitment team.
What are the benefits of a cadetship over going into university and
then trying to get a job when completed?
A cadetship assures you an instant circle of new friends. Leaving high
school and starting uni can be a daunting prospect but being with
your fellow cadets helps to ease into the transition – especially when
finding partners for group work!
The work you do as a cadet complements and gives a context to
your uni studies. Whilst lots of people at full-time uni struggle with
first year accounting, cadets are able to understand why and how it
applies to day-to-day practice.
KPMG offers its cadets a range of resources that help with the burden
of uni study and assignments. Work colleagues are always willing to
offer assistance and the KPMG library is overflowing with research
materials and resources.
The money you earn as a cadet really helps get you through uni.
KPMG even offers an extra allowance for books each semester. One of
the major selling points for me was the monthly allowance you earn
while studying full time.
How long is the program and where are you now? How flexible is
the program?
The KPMG cadet program operates on a ‘2-plus-2’ basis. The first two
years involve working full time and studying part-time. For the next two
49
Accounting
years you attend uni full time and work during vacations. After graduation
at the end of the fourth year, you return to full-time work and complete
the CA Program or some form of relevant professional qualification.
The program allowed me to choose from a range of uni and degree
options. I was able to negotiate with my counselling manager (at
KPMG) when I completed my vacation work during full-time study. The
program even allowed me the flexibility to participate in an overseas uni
exchange – and I had time to travel for a couple of months.
To your knowledge, how many cadetships are offered by
your company?
KPMG offered about 40 cadetships in NSW last year and had lots of
applicants. Not many accounting firms have cadet programs and they
vary from firm to firm.
What do you wish someone had told you about accounting before you
started on this career path?
It’s not bean counting! There is so much more to accounting than
just debits, credits and journal entries. Accountants still fulfil
traditional roles such as bookkeepers and auditors but now extend
their qualifications to include advisory roles in forensic accounting,
in transaction services and corporate finance.
brief How does your job allow you to achieve the work-life balance that
Assistant manager, suits you (if it does)?
forensic accounting
Whilst completing the CA Program, achieving a work-life-study balance
$$$ 70K – 85K
was extremely difficult. However, with study out of the way, it seems
quals Comm (UNSW);
B
CA to be much easier to achieve a balance. KPMG Forensic managers and
hrs/wk 40 – 50 partners are very conscious not to overload staff with work so you
life–work Suits me – can have the time to pursue your interests and hobbies.
do all the things
I love doing! How flexible are your work arrangements?
flexibility reat, flexibility
G I am constantly surprised about how flexible my employer is – all you
when you ask for it have to do is ask! Recently our lead partner allowed me to take a
two-month break as a reward for completing the CA Program.
50
Insider info
myweek
n ork independently and/or with a team

W n ollerblading in Centennial Park
R
to complete a project (the majority of my n Bopping to the loud music in a cycle
projects have been investigation class at the gym, then chilling out with a
based work) power yoga session
n Draft reports on factual findings for clients
n Shopping with my sister – like every
n Conduct fraud risk assessment other girl!
workshops for our clients n Having breakfast in Bondi or a lazy
n Attend KPMG forensic marketing events afternoon picnic with my boyfriend
(such as wine-tasting evenings with our n Enjoying a special dinner at a
key law firm clients) gorgeous restaurant
n Attend training courses and seminars
n Sipping on a few glasses of champagne
covering issues in the fields of financial with my girlfriends on Saturday night!
and forensic accounting
n Crawling into bed with a good book –
n Conduct in-house CA Program
training sessions
I am loving the Harry Potter series at glossary
the moment.
n Research changes to accounting and
n After recently completing the CA IFRS means:
auditing standards – especially with the Program, I am having a break from
conversion to IFRS the books for a little while. Work does – International Financial
n Complete the dreaded timesheet each occasionally require a couple of hours Reporting Standards
Friday afternoon! commitment on the weekends though.
51
Accounting
cv temp work >> Shanya Lee* – Assistant accountant

reception (Pizza Hut)
Shanya works as an assistant accountant in a small, city-based, public
>> assistant accountant
practice accountancy firm that specialises in tax. Shanya is studying for
her CA qualification and began work with the firm because the owner
was willing to be her CA mentor. Shanya is 24 and says the standard
salary for her role is around $52 000 per year.
Shanya has done part-time and summer holiday work with big firms like
AMP and Macquarie Bank, but wanted the more hands on experience
offered by working at a small firm. She also worked on the phones at
Pizza Hut while at university.
‘In a small firm, you learn a lot. It is not true you spend all day photocopying.
There is lots of variety; it brings together everything you learn at uni.
With a big firm you can find yourself working in one area,’ she says.
In her role she does mostly tax work plus a little auditing for individuals,
small companies and superannuation funds.
‘If you start in a small firm you are basically looking at going on to
run your own business. Work with bigger firms leads to management
accounting roles with big corporates,’ she says.
q&a
glossary What do you like best about your career?
The hours are pretty flexible. I work to major deadlines set by the
ATO means: ATO but get to pace my own work around that. There is also plenty of
– Australian Taxation Office. client contact and I get first hand practical experience.
A small firm typically has limited resources compared to the big firms
which means you do menial tasks. But in terms of the range of work
you do, it covers everything.
What type of person best suits this industry?
in People willing to interact with clients and those confident to research
brief answers when they don’t have them at hand. You also need a
Assistant tax accountant willingness to learn on the job.
$$$ 53K Does this job allow you to achieve the work-life balance that suits you?
quals conomics degree
E
I work nine to five unless I’m really behind in my work.
hrs/wk 35 – 40
life–work ok if you stay When you start your CA qualification it can be quite difficult as you have
focused to give up a lot of hours to study, but it is OK if you stay focused and
flexibility ork around
w disciplined. If you don’t know anyone else doing a CA that’s OK too; there
deadlines
are lots of web-based support tools available. You get through pretty well.
52
Insider info
myweek
monday tuesday
9.00 – 5.00 Concentrate on 9.00 – 5:00 Continue with tasks.
income tax returns. Filing, letter writing and emails,
each Monday: Meeting to allocate the responding to queries and
jobs for the week and sort out providing information to clients
responsibilities and deadlines. (about 20 per cent of my time).
Typically the boss is out of the 5.00 If it is busy I have to work late.
office a lot of the time attending
client meetings, so we have
to know what we are doing
without constant supervision.
5.00 If it is busy I have to work late.
wednesday thursday
9.00 – 5.00 Tax work can begin 9.00 – 5.00 Quarterly and annual
with organising and maintaining deadlines can mean there are
the bookkeeping. busier times throughout the year.
I have to make sure all debits and
credits are accounted for. This can
occur on a weekly or monthly basis.
I work up to preparing the final
end of year tax returns for financial
institutions and superannuation funds.
5.00 If it is busy I have to work late.
friday weekend
9.00 – 5.00 Each Friday – meeting I have the weekend to myself.
to assess what progress we
have made and to get an idea
of what is required next week.
Jane Thomas* – Client manager cv analyst >> senior

analyst >> client manager
Jane is a client manager with Deloitte. She completed a business degree
and then completed her professional qualification with the Institute of
Chartered Accountants. She started working with Deloitte as an analyst
and then progressed through to senior analyst before becoming a
manager. She is in her late 20s and the salary range for her position is
$70 – 90 000.
Being a female accountant is not an issue for Jane. She says there is a
strong focus on gender equality in the company and this provides as
many opportunities for women as possible.
53
Accounting
q&a
Working with many different people both internally, and externally
through client engagements.
The amount of administration.
Briefly describe a particularly interesting matter/project you have been
involved in?
I was involved in assisting a client through significant change within
their business that included restructuring certain business lines. They
were faced with a number of challenges – not all foreseen – and I
have been able to assist in providing regular advice and insight into
issues that we can see, but they were yet to discover.
Does this job allow you to achieve the work-life balance that suits
you now?
Staffing shortages mean that a work-life balance is more difficult to
achieve. However, it requires discipline and courage to stand by your
needs and find a balance that works best for you. I believe I haven’t
quite got there yet, but am definitely well on my way.
You have to be relatively independent as a lot of this job is about you
pushing yourself to achieve. With that said, you must also be a team
player given the nature of our job is working with other organisations
to deliver great service. You also need a fair degree of confidence in
your own abilities, particularly when dealing with clients.
What did you have to learn the hard way?
To do things for myself, as I am are responsible for my own career.
Whilst you may have a number of mentors along the way, at the end
of the day it is up to you to make the most of your career.
Is there anything else about your job or working in this career that
you think young people would like to know?
The ability to travel with accounting qualifications and also within
in
brief Deloitte is highly possible. Deloitte has offices all around the world,
and also it is very easy to nominate somewhere to go.
Client manager with Deloitte
Has the industry changed in the time you’ve been in it?
$$$ 70K – 90K
Very much so. Currently we are completely changing the accounting
quals Business degree,
CA standards for Australia – so everything I learnt at university and during
life–work not yet, but my qualifications is changing.
on the way
flexibility s taff shortages can The regulatory environment in Australia is always evolving so new
make it difficult regulations affect our clients differently and we have to respond to
those changes.
54
Insider info
myweek
Morning Generally no work performed on weekends
n Check emails – approx. 30–40 per day unless significant deadlines
for clients are approaching
n Respond to any client queries
n Liaise with client on any projects
currently running
Afternoon (varies)
n If commencing a new client – organise
team members and take them out to
client premises and get them set up
to start the audit
n Supervise and assist my teams
undertaking client engagements.
n Prepare TO DO list for the week
– sort out what I must achieve by when
Evening (varies)
n Identify any opportunities to provide
additional services to my clients
n Undertake any client work that
I have outstanding or reviewing
work of team members
n Often involved in delivering or developing
training courses for staff within my group
n Undertake self-study on technical areas
that impact my ability to assist clients
Brendan Twining – Senior manager, audit cv cadetship with

KPMG (straight after
Brendan has worked in accountancy for 12 years, all at KPMG. He
started as a cadet and has done a number of different jobs on his career completing the HSC) >>
path at the firm. indoor cricket umpire

>> soccer referee >>
q&a p/t managment accounting

during f/t university >>
How long have you been in this position and in accounting? accountant >> senior
This is my third year as a senior manager. I have been in accounting accountant >> assistant
for 12 years with KPMG. I started working for KPMG as a cadet while manager >> manager >>
still at university.
senior manager, audit
What do you do in your job?
In my job I assist clients with the requirements of the Australian
accounting and regulatory environment within the financial services
industry, including the current transition to Australian equivalents
to International Financial Reporting Standards. In addition I work
with, and manage, a variety of staff and report audit and accounting
findings to the partners I work for.
55
Accounting
What are some of the advantages of working at the same accounting

firm throughout your career so far?
My day-to-day activities are always challenging and varied. I always
come to work and learn, and do, something different. I get to work
on a number of different clients and across different industries.
I have also had a number of overseas and interstate work opportunities
over the past 12 years including London, Hong Kong and Melbourne.
What are the benefits of staying at the one firm and moving into
management?
I think you develop a very broad skill set as you get to see numerous
different clients, industries, processes and systems as well as dealing
with people from different cultures and backgrounds.
I like the variety of work – I do something different and new every
day, and I work with different people. I enjoy working with a team of
people who are working towards the same objective.
I enjoy working at KPMG because it has a great culture and vibrant
atmosphere. It’s rewarding to watch junior staff develop through
coaching and experience on the job.
There’s nothing I dislike.
What interesting project have you been involved in?
In 1999/2000 I went on secondment to Hong Kong for four months to
review the ‘workout’ of various problem loan facilities as part of our audit
of a major bank which had arisen due to the Asian crisis. These were
quite large and high profile facilities and involved significant negotiation
between the client and the borrower to reach settlement agreements.
I am now involved in a number of transition projects for companies
moving from existing Australian Accounting Standards to Australian
equivalents to International Financial Reporting Standards which
involves a lot of technical input and analysis.
What do wish someone had told you about accounting before you
in
brief I did a lot of research through careers fairs and family but I didn’t
really understand what a great ‘grounding’ working with an accounting
Senior manager, audit
firm provides (you get to be involved with compliance, accounting and
$$$ $100K + regulatory related issues every day).
quals Comm
B
(Accounting), How does your job allow you to achieve the work-life balance that
Macquarie Uni; CA
suits you?
life–work excellent
I have a good split between work and private life. I still train regularly
flexibility fl exible enought to
fit with my needs for, and play, cricket. In the past I was also refereeing soccer at a state
level for which I also trained on a regular basis.
56
Insider info
How flexible are your work arrangements?

Leave without pay is one option. I recently was fortunate enough to
fyi
take a seven-week break and travel overseas following the completion A ‘career break’ is a KPMG
of a secondment. KPMG also has other options like ‘career breaks’ or benefit that allows people
flexible hours for people. to take a break from
their career to go and do
something different with their
myweek lives, such as travel, go back
to study, while still having the
monday – friday evenings – weekend security that they have a job
to return to at the end of it.
n eet, and build strong working
M n lay cricket
P
relationships, with clients n Soccer
n Research industry issues
n Golf
n Research accounting issues
n Catch up with family and friends
n Write reports for boards
n Movies
and audit committees
n Communicate with partners
and other managers
n Provide accounting, industry and
regulatory advice to clients
n Manage team members
n Coach team members
n Plan work engagements
n Manage budgets
David Morgan* – Audit manager cv barman >> labourer
David is an audit manager with a medium-sized, audit firm. He has >> teacher >> auditing
been with the public practice for three years and has a total of eight >> senior supervisor >>
years experience in audit work. He is in his late 20s and says a standard audit manager
package for an audit manger is $100 000 plus.
David did an accounting degree and then gained accreditation as a CA.

Before becoming an accountant he worked as a barman, laborer
and teacher.
To get his current job, experience was crucial. He has wide experience
in all types of audit, with a variety of large and small organisations, and
had previous roles as a senior and then as a supervisor in an audit firm.
57
Accounting
q&a
You get a wide variety of experience with different companies and
organisations and you get to make a number of contacts that help
with future business or employment. Audit offers a number of career
opportunities for further down the track. I also get exposure to a
wide demographic and learn to deal with people of all backgrounds
and personalities.
One interesting job I’ve done recently was to help solve a legal dispute
between two international companies over a failed transaction.
Long working hours and dealing with difficult people.
Yes, I have most weekends free for personal time and the job offers
flexible working hours when things are quiet. This is in return for
some hard hours when it’s busy.
Those who are confident but patient, well organised, respectful,
hard working and outgoing.
What do you feel young people would like to know about
the industry?
Firms can be a bit stuffy and there is an expectation to put in some
long hours but it can be rewarding down the track. Being chartered
[CA] offers a great platform for future career prospects if you change
your mind about what you want to do.
Currently there is a changing attitude about accountants from being
old, number-crunchers to young dynamic business-minded people.
There is an emphasis on customer service more than ever.
in
brief you think young people would like to know?
Don’t get caught up in the hype of the big firms – they offer great
Audit manager with private firm
opportunities for some but not everyone, and there are many other
$$$ 100K
opportunities out there if you look around.
quals ccounting degree,
A
CA What do you wish you’d learnt much earlier on?
life–work weekends free That I was being underpaid for the first two years – I wasn’t aware of
flexibility when it’s quiet
industry norms for wages.
58
Insider info
Jennifer Jones – Senior manager, cv p/t retail positions

financial assurance >> holiday work (finance
division) >> graduate recruit
Jennifer is 29 and has been working for PwC since she graduated with
(PwC) >> accountant >>
an accounting degree from the University of Aberdeen in Scotland.
snr accountant >> manager
Jennifer moved to Australia four years ago through the firm’s global
>> senior manager,
deployment program. PwC helped with the travel arrangements and
financial assurance
paid for shipping costs as well accommodation when she first arrived.
There was also a relocation team to help her find a permanent place to
live. Her experience is by no means an exception as accountancy offers
plenty of opportunity for overseas work, she says.
Jennifer’s job is centred around auditing but this is only part of

what she spends her time doing. She is actively involved with the
PwC Foundation, which provides resources, expertise and funding
to community organisations. She is also taking part in a year-long
leadership program which gave her the opportunity to work with the
firm’s CEO on the roll out of an exciting global project. Additionally,
she is involved with the career development of her own staff and has
recently done a four-month secondment to the graduate recruitment
detour
division. ‘I get a lot of enjoyment out of the people side of the business,’ More jobs that travel
she says. can be found in
Career FAQs Global.
It is a real myth that accountants are boring, she says. Her office
employs a few thousand people and most are in their 20s and 30s.
‘It’s a young organisation and not at all dull,’ she says.
q&a
in
There are always new opportunities being offered within PwC and
brief
Senior manager,
plenty of variety in terms of clients and tasks. No day is the same.
financial assurance
PwC are genuinely interested in my development and I learn a lot $$$ 110K – 150K
from the high calibre people I work with. (Michael Page
International figures)
What do you like the least? quals CA
Sometimes I feel I would like to work within a business rather than hrs/wk up to 60 in the
busy periods
advising other businesses all the time.
life–work busy periods are
Does this job allow you to achieve the work-life balance that suits balanced with
flexible hours and
you? Can you describe that balance?
ability to work from
The busy periods in auditing are around January, February, July and home in quiet times
August. At these times I can put in up to 60 hours a week, but I try flexibility xcellent working
e
not to work weekends. When it is quieter however the hours are more conditions for
staff at PwC
flexible and I sometimes get the opportunity to work from home.
59
Accounting
What do feel young people would like to know about the industry?
I view my CA qualification as a passport which has provided me with
so many opportunities. An accounting degree is not always necessary
– excellent communication and teamwork skills are far more important.
What did you have to learn the hard way?
Studying for my CA qualification whilst working was really tough. I
didn’t appreciate how hard it would be and you really have to
be committed.
cv graduate program Matthew Marcurian – Junior partner

>> private firm >>
Matthew is a junior partner in a public practice accountancy firm run by
junior partner his older brother who encouraged him to become an accountant. After
university he entered the graduate program with KPMG and qualified
as a CA.
The graduate program of study and work did require a lot of time that
cut into his social life outside work. But this was compensated by the
good camaraderie he enjoyed with other colleagues doing the graduate
program. All up the early years were a lot of fun and didn’t involve a
great deal of serious work. ‘There was no immediate pressure,’ he says.
Getting into the graduate program was as much about his personality
type as it was an aptitude for maths. ‘They liked my extra curricula
activities; I was a prefect at school and also did a lot of debating. To be
good at maths helps but it is not compulsory.’
By the second year with KPMG’s audit team he was starting to talk
with clients. Working for the big four accountancy firms tends to
lead to specialisation which can be a good or bad depending on your
personality, he says.
After working with a corporate for two years following KPMG, Matthew
left audit work to join his brother’s company. At 29, a standard salary
package for his role is $80 – 100 000.
His current work is concentrated on tax advice, planning and compliance.
q&a
Dealing with people and helping them solve their problems.
The administration involved with running your own business.
60
Insider info
Does this job allow you to achieve the work-life balance that
suits you?
It is not ideal. I have started a Masters course and we have to make
the business run better. I work 8.30 am to 7.00 pm and rarely go out
for lunch.
Is there anything about this career that you think young people
should know?
Communication skills are as important as analytical skills, particularly
as you progress. At the beginning it is about 50/50 but when you
in
are senior and dealing with clients more regularly, they become more
important, say 70/30.
brief
Junior partner, tax firm
Tax gets complex, and you have to be able to explain it in laymen’s terms.
$$$ 80K – 100K
There is also a huge range of jobs available to accountants that are quals ccounting degree;
A
CA
more financially rewarding than mine. It is up to the individual to
hrs/wk 50 – 55
determine how far they want to progress depending on how ambitious
life–work not ideal
they are and how many hours and effort they are prepared to put in.
61
Accounting
cv junior tax accountant

Anthony Costa* – Senior tax accountant
>> tax accountant >> Anthony is a senior tax accountant. He has been qualified for 13
senior tax accountant years and in his current role, his third job, for three. In his mid 30s, an
accountant with his experience can expect to earn $65 – 90 000.
He mostly deals with small businesses, so-called ‘mum and dad

companies’ and personal superannuation funds. Anthony concentrates
on tax but also deals with financial planning and insurance.
About one third of Anthony’s time is spent with clients either on the
phone dealing with questions or at face-to-face meetings. The rest of his
time is spent doing returns or preparing for meetings.
q&a
My role delivers daily challenges as I look for the best results for a
wide range of clients. The range of clients keeps things interesting.
The principles are the same but the outcomes never are.
in
brief I get frustrated by incomplete files and the regular need to chase up
clients to find the missing details.
Senior tax accountant
$$$ 65K – 90K
hrs/wk 45
flexibility eeting deadlines
m I work a pretty standard five-day week from 8.30 am to 5.30 pm, but
requires effort occasionally stay back to 7.00 pm. Meeting deadlines does require
hours and effort.
the industry?
Just like in other service industries accountants need personality to
market their product. It’s about reducing tax and improving lifestyles,
it’s not about boring clients to death.
The job requires a personal commitment as you should treat all the
affairs of clients as if they are your own.
cv assistant accountant
Samantha Valley* – Finance manager
>> business manager Samantha is a finance manager with a medium-sized insurance
>> finance manager company, a position she has held for four years. She is in her mid 30s
and says a standard salary for her position is in the range of
$90 – 120 000 per year.
62
Insider info
People thinking about a career in accounting should be aware that there

are many different opportunities available and that they don’t all involve
number crunching. ‘I used to be a business manager in the United Kingdom
for a TV production company. This role was more human resources and
company management. It involved very little accounting,’ she says.
Prior to her current job she did three-year stints with both a chartered
accountancy firm and an engineering firm. At the latter she was an
assistant accountant. ‘Accounting skills are easily transferable so you
can get a job in any country and in lots of different industries,’ she says.
Samantha also spent one year in a marketing role and three years
travelling, neither of which has hindered her career progression.
q&a
It enables me to get involved in the overall running of company and I
can also help other people develop their skills.
I recently implemented new accounting software throughout the
company which has helped to improving its reporting systems.
The down side is that accounting can be repetitive. When I first
started out I thought about another career, as lower level accountancy
tasks can be mundane and dull. But it has worked out in long run.
Organised people who are methodical and do not mind detailed work
are suited to the profession. It doesn’t suit overly creative types as
they will get bored.
It’s good as my position involves flexible hours and there are
appropriate resources in place to allow the team to work reasonable
hours. Nonetheless, there is still the occasional need for late night
and weekend work.
in
I don’t really have a typical week. I supervise 12 staff and so a lot of brief
time is spent training with them as required, working on company Finance manager with an
strategies and working on business improvement. People at lower insurance company
levels have more structured roles, like monthly tasks, but I don’t. $$$ 90K – 120K
quals ccounting degree
A
What is the best thing you think you can do for your career? life–work occasional need
If you are starting out in accountancy you should work as hard as you for late night and
can while you’re young and get varied experience so you can then do weekend work
flexibility yes
a wider range of tasks later on. Work in a variety of industries and
companies until you find one you like.
63
Accounting
cv administration Andrew Newton* – Finance director

with law firm >> finance
Andrew has been working with a medium-size, private company in
controller >> finance the building industry for nine years. Andrew joined the company as a
director financial controller and has worked his way up to hold a position on the
company’s board as the finance director. He is in his 30s and a standard
salary for his role is $125 000
When he was 19 he was working at a law firm where his manager

suggested he get into the finance and administration side of the
business. This led to a finance degree with an accounting major and he
went on to qualify as a CPA. Andrew chose this qualification because it
is more practical and better targeted to the private sector.
In his current role he has to keep track of the financial status of the
company’s ten offices situated across Australia. His work covers the whole
spectrum of the company’s financial needs. This includes preparing budgets,
cash flow projections, monthly reports for the board and shareholders as
well as audits. He has seven managers who report directly to him.
q&a
The satisfaction of managing a medium-size business with 200
employees. I like the responsibility of trying to improve the company,
seeing it develop into new markets and devising new business strategies.
The hours. I work most Saturdays so it’s a six-day week of 60 – 70
hours in total. The work-life balance could be better, but you do what
you have to do. I don’t have a huge life outside work. It can also be
hard to organise annual leave.
What do you think young people should know about this industry?
They need to specialise in one particular skill area where they have
promise. It is hard to be an all-rounder these days. You also have to
be able to develop in whatever role you take. All accountants have to
in commit to ongoing training.
brief Expect change. Just because you have been doing something for five
Board position with years don’t think that’s the way it will always be done. If and when
medium size firm
something new comes up you have to be able to deal with that.
$$$ 125K
quals Finance degree
What sort of person suits the industry?
life–work could be better Someone with more than a good knowledge of numbers. You have
flexibility ard to organise
h to be able to see the story within the numbers. You have to be able
annual leave understand, interpret and communicate what they mean. You also
have to be able to spot trends.
64
Insider info
Melissa Blake* – Director cv administration with

foreign affairs >> ran coffee
Melissa is a director of a H&R Block tax agency franchise in a country
town in western New South Wales. Her parents encouraged her into the shop >> tax agent
profession but they will be retiring from the business this year. Melissa >> director
is in her late 30s and says the standard salary package for a senior tax
accountant in rural areas is around $70 – 75 000.
Becoming an accountant was far from her first career choice when she
left school. After studying office skills at a business college she joined
the Department of Foreign Affairs and also travelled for several years.
After this she started running a coffee shop back in her hometown. Her
father got her to do a tax-training course so she could help out with the
family business in her spare time and earn extra income.
‘If I had known I would enjoy it so much I would’ve started earlier,’

Melissa says.
By the age of 26 she had started a part-time TAFE course in accounting

which lead to a university degree. She has been with the franchise
since 1991 and is a member of the NTAA. Melissa also worked for
corporates in Canberra and Brisbane for a total of three years to widen
her experience. This was necessary to become registered as a tax agent
which is a government requirement for running your own tax business.
q&a
I like tax and the fact that it is very logical. I also like dealing with
clients face-to-face and seeing the job through from beginning to end.
In less senior roles I was stuck in a back room and only saw pieces of
each project which was frustrating.
As a female accountant in the country I’m not taken seriously. Despite
in
brief
my 13 years’ experience I get the impression some people would
prefer to talk to a man who has just completed a training course.
Director, rural tax agent
People look at me and say ‘I don’t want the secretary doing my tax’.
$$$ 70K – 75K
Does this job allow you to achieve the work-life balance that quals ccountancy at
A
suits you? TAFE and university,
registered tax agent
No it’s very bad. I do far too much work. In the busy tax season after
hrs/wk 55 – 65
July I start at 6.30 am and work anywhere from 10 to 14 hours a day.
life–work too much work
If there were staff available it would be different, but there is severe
flexibility limited by staff
shortage of accountants in rural areas. shortages
65
Accounting
What type of person best suits this industry?

Logical and methodical people, but you also need a sense of humour
to get on with people and deal with clients. Everything we do is based
on face-to-face contact.
You don’t have to be good at maths, I hated it at school.
cv junior accountant >> Charles Black* – Associate partner

senior accountant >> uni
Charles is an associate partner in a medium-sized, public practice
lecturer >> director
accounting firm that primarily serves wealthy private clients. He has held
>> associate partner the position for five years and prior experience included running his own
partnership and 12 years as a part-time university lecturer. Charles is in
his 40s and a standard salary for the job is $130 – 150 000 per year.
His accounting background also underpinned his role as a director

with a radio station which was a rewarding role as it meant ‘proactively
running a business rather than just advising’. The role was exciting and
financial rewards were tied to performance results.
Charles’ most challenging assignments have generally been in the

commercial field and this has included helping to float a company on
the stock exchange.
‘When you start accounting, it is nothing like what you are doing at
university. You move from number crunching to advising, guiding
business and telling them how to do things,’ he says.
q&a
What do like best about your career?
The flexibility of accounting and the fact that it allows me to work
wherever I like. It is never hard finding work. Basic accounting can
open a lot of doors.
What do like least about your career?
The fact that I have to account for my time on an hourly and daily
basis which is how firms calculate what to charge clients. It’s all built
around chargeable units per day, there is no time to star gaze.
The work can also get repetitive. Even as a partner you’re dealing with
the same issues, clients asking the same questions and regular month
end work.
It is also a problem that clients don’t often appreciate the work you
do for them. They just think about the tax they have to pay out of
their pocket, not the money you have saved them paying.
66
Insider info
It depends on the time of year with peak loads coinciding with
tax office lodgment deadlines. In a typical working week about
30 per cent of my time is spent on administration, 20 per cent on
correspondence, ten per cent on fact-to-face client meetings and the
remaining 40 per cent is actual work.
the industry?
For young accountants starting work with a major firm it can be a
struggle early on as hundreds of graduates try to get themselves
noticed in the crowd. This can mean working back till eight or nine in
the evening. They kind of flog the new accountants.
But there is prestige attached to working for a big firm. Prospective
employers always ask where you have worked last.
Can you tell us of a common myth about the industry? What is the
reality from your point of view?
It is a myth that you have to remove your personality to become an
accountant. A lot of people confuse bookkeeping with accounting.
These days a lot of the number crunching is done through specialist
computer programs. The critical issue is how you interpret data and
your ability to think through issues. If you can’t do that you will fail as
an accountant.
An open personality is also crucial. You have to be able to speak with
clients and communicate ideas in a way they understand. But you
then have to flip over and be able to speak to other accountants in
technical ways.
Good accountants talk to people; they take technical ideas and relate
them to people in every day terms.
in
you think young people would like to know?
brief
Associate partner,
Accounting is a great basis for entering the field of business medium-sized public practice
management. Marketing, human resources and IT are all good, but you
$$$ 130K – 150K
can go higher with accounting. It is the dollars and sense of business. hrs/wk 50
By the age of 26 I was third in charge of a medium-size firm. You can life–work good but gets
busy at tax time
walk into upper level management with the right accounting experience.
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Accounting
cv junior accountant Bob Simmat – Proprietor

>> accountant
Bob is in his 50s and is the proprietor of his own public practice which
>> proprietor
specialises in tax returns. He is a qualified chartered accountant and
registered tax agent. His salary depends on the amount of work he can
attract in any given year. Bob has been running his firm since 1982 after
beginning his career working at a major accounting firm.
q&a
The best aspect of his job is talking and visiting clients. I’m never on
the same job longer than a week. There is a great variety of work and
meeting a variety of people also keeps the job interesting.
I don’t like keeping hard copies of a lot of documents, but soft copies on
the computer are not foolproof. A lot of hard copies add to filing work.
What do you feel young people would like to know about the industry?
People contemplating an accounting role should be aware that there
is a range of work, from simple to complex returns, and that research,
ongoing study and professional development courses are needed.
It’s hard work because the intricacies of the tax laws keep changing.
in
brief Maintaining your knowledge by attending professional development
Proprietor: own tax firm sessions and buying appropriate books is the best thing you can do
quals Registered tax to further your career.
agent, CA
hrs/wk 50 What type of person do you think best suits this industry?
You are best suited for a life as a tax agent if you’re an investigator,
problem solver and ethical.
myweek
Morning Relax
n Respond to emails and letters
n Banking
Afternoon
n Complete whatever tax returns are
due first. If it’s quarter end, the
urgent jobs will be BAS forms
Evening (Tuesday only)

n Professional development
discussion groups
68
Insider info
Joe Gluck – Sole practitioner cv graduate accountant

(Ernst & Young) >> CA >>
Joe is also a sole practitioner running his own small suburban
partner (private firm)
accounting firm. He is in his 50s and has over 25 years’ experience. Sole
practitioners can expect to earn roughly $150 000. If they don’t, they are >> sole practitioner
better off getting a job with an established firm, he says.
Joe became an accountant via an economics degree that included

accounting as a major. He entered a three-year graduate program with
Ernst & Young and became a chartered accountant in his own right. He
was a member of two different partnerships before going out on his own.
q&a
The best thing about being a sole practitioner is running your own
business. You’re not answerable to anyone, it’s your responsibility.
You own a business that is no different form selling widgets at the
markets, and it also has the same challenges. I have five staff and all
up, there is a lot of satisfaction.
The business is all about dealing with people; they are all different
and have different needs. It’s all about human mechanics.
The biggest problem is the severe time constraint I constantly face. All
my work is client-based and involves tax returns and business activity
statements (BAS) which are subject to tax office deadlines. If I don’t
meet the deadlines, I have to pay the fines.
The work-life balance involved with running my own practice is a fine
in
one at best. I put in at least 60 hours per week starting at 8.00 am
and finishing at 6.30 – 7.00 pm. As well, it is normal to work for four
brief
Sole practitioner: suburban
or five hours on Sunday. I just have to. accounting firm
I also spend plenty of time thinking about the job when I’m not in $$$ 150K
the office. It’s not only the accounting but also the business. I have to hrs/wk 60
manage staff as well as send and collect invoices. life–work severe time
constraints
I’m so busy I have to hire an accountant to do my own taxes. I don’t flexibility ave to work
h
have time to do it myself. weekends
69
Accounting
cv p/t at RSL club Giovanni Maso – Business manager, Zurich

& trainee accountant
Giovanni works for the Man Group plc. He began working for the
(p/t uni studies) >> UK as group in London three and a half years ago and two months ago was
contractor >> business transferred to the Zurich office.
analyst >> business
manager, Zurich
q&a
How did you get to live and work in Zurich?
Left Australia at 27 before the age-based limit on the one-year
UK travel/work visa expired. Initially I started out as a contractor
preparing financial accounts in the fund accounting department.
After six months, they asked me to apply for a job as a business
analyst in the product management area, as they wanted an
accountant with systems experience. Product management sourced
product performance and risk monitoring data from the fund valuation
system. The job needed knowledge of accounting in order to be able
to communicate with data providers, but it was only a small (but
critical) part of the job.
70
Insider info
Were there any additional training or registration requirements to work

fyi
in the UK?
None, but I had to undertake an Investment Management Certificate Man Group plc is a global
with the UK’s FSA (their version of the stock exchange) to get up to provider of alternative
speed with hedge fund lingo. investment products and
solutions as well as one
What’s it like living and working in another culture? of the world’s largest
Excellent. Being in a city and continent with so many cultures makes futures brokers. The Group
employs over 3000 people
me feel like I’m a permanent holiday! I love living in Zurich.
in 15 countries, with key
Of course, most of my time has been spent in England. The English centres in London, Pfäffikon
are a bit more reserved than the Australians and are often put off by (Switzerland), Chicago,
New York, Paris, Singapore
our confidence and directness. However, they are a compassionate
and Sydney. Man Group
and hospitable people once you get to know them, and seem to have plc is listed on the London
a respect for the Australian work ethic. I do have an issue with the Stock Exchange (EMG.
lack of fresh fruit and vegies over here though. L) and is a constituent of
the FTSE 100 Index.
What does your job involve?
n responsible for all change control, strategic planning, and
operational risk mitigation within product management

n review of the operations of the product management department
on an ongoing basis by liaising with various back office and middle
office staff, and key members of other group departments such as
corporate finance, product engineering, information systems (IS) and
front office
n ased on the results of each process review, I prepare and present
b
‘Development and Implementation Plans’ to the group’s IT/
information systems steering committee, with the aim of improving
efficiencies and reducing operational risk weaknesses inherent
in internal and external process and systems – for both product
management and other dependant departments within the business
n a ct as interface on behalf of product management with central IT
developers in tracking the development of all projects involving
system enhancements, and prepare regular progress reports to
relevant steering committees and senior management
n a ct as interface with internal audit in coordinating annual and
quarterly reviews
n aintain business continuity and disaster recovery planning for
m
product management, including the setting up and implementation
of system requirements at the recovery site
n erform ongoing operational risk reviews on all product management
p
procedures to ensure compliance (ISO9001, Basel II, and SAS70) and detour
internal control requirements are being adhered to, and report to the
Interested in working
group risk committee on a monthly basis on findings overseas? Check out
n irect supervision of 1 x systems analyst, 1 x operational risk
d Career FAQs Global.
www.careerfaqs.com.au
analyst, 1 x business analyst and 1 x data analyst.
71
Accounting
How big is the accounting section or team you work with?

There are two departments with accountants, the fund accounting area
which has about 100 staff, and financial control area which has about
20. Most operational and senior managers in other product-driven
business units are also accountants.
What qualifications do you have? What university?
Bachelor of Commerce, University of Western Sydney.
Are you a CA, CPA or PNA?
CPA.
What’s an average salary package for your job?
[A check on Michael Page International website indicates the average
wage of this level of job is between 40 000 and 50 000 pounds
($92 000 – $115 000 AUD) plus bonuses in some jobs.]
The variety of tasks, non-routine, people, and lifestyle it provides.
Being indoors behind my PC most of the day.
What interesting project have you been involved in? Can you tell us
why it was interesting and what you did?
Don’t really have a choice with what I am asked to do, as my boss
pretty much dictates/prioritises what I am involved with. Setting up
the disaster recovery site for the London office – hardware, software,
dependencies on external information suppliers, procedures, staff plan
– was good. The project took a year, had a budget of about $15 mil
(including purchase of land and building). I had to account for about
glossary 100 staff. It was a great opportunity to see the business from an
end-to-end perspective, and how each individual fits in the bigger picture.
CEO means:
– Chief Executive Officer What do you wish someone had told you about accounting before you
COO means:
It’s not as boring as made out to be, and see it as a stepping-stone
– Chief Operations Officer
into something else in business. Most CEOs and COOs are accountants
these days.
How does your job allow you to achieve the work-life balance that
suits you (if it does)?
in
brief I can work for myself, contract, be part of a public practise, or work
exclusively for company in any industry so my options are great and
Business manager, Zurich can change according to the amount of work I want to do. Contract
$$$ equiv. approx work, for example, can mean working fewer hours for more $!
92K – 115K AUD
quals Comm, Uni of
B Being based in central Europe on a decent package allows me to travel
Western Sydney a fair bit and see places that I otherwise couldn’t if back in Australia.
hrs/wk 45 – 55
Where to from here for you?
life–work 70/30 per cent split
Just moved to Zurich two months ago with an internal transfer doing
flexibility like being on a
permanent holiday the same type of work but for the legal department, so happy to stay
put in my current role for the next few years.
72
Insider info
Long term I would eventually like to relocate back to Sydney, with

my current employer if possible. As I have never done the same job
when moving on, can’t really see what that would be. However, with
my experience to date, I would expect to step into a chief operations
officer position of some capacity.
myweek
n perational risk monitoring
O n iking
H
n Service provider relationship n Watching Inter Milan football team
Management play (have a season ticket)
n Cost control n Socialising
n Quality control n Travelling
n Internal audit n Keeping fit
n Process re-engineering
n Disaster recovery management
n Systems development
n Project management
n Activity reporting
n Get free lunches which is great!
In any profession, there are people who use their

qualifications and experience to do something different,
exceptional or unconventional. Others may combine their
passion for a cause, a sport or a special interest with
their chosen career.
Jocelyn Kingston – Accountant, Greenpeace cv junior accountant

in the finance sector >>
Jocelyn has been working for the not-for-profit environmental accountant with video
organization, Greenpeace, for the past five years. The position allows her
distribution company >>
to develop as an accountant but also to stay true to her personal beliefs.
accountant, Greenpeace
q&a
What led you to become an accountant with Greenpeace?
I have always had an interest in the environment. From an early
detour
age it was fundamental, we were always conscious of waste and Read about other
living sustainably. jobs that can make a
difference in Career
When I was 23 I read in a Greenpeace newsletter that the finance FAQs Save the World.
director was moving on and I thought ‘wow’ accountants can work www.careerfaqs.com.au
for Greenpeace.
73
Accounting
What qualifications do you have?

After finishing school I did an Advanced Diploma in Accounting at TAFE
and started working right away as an accountant. I didn’t join one of
the accounting organisations to become a CPA, CA or the like, because
they didn’t offer any advantages for what I wanted to do. They help
accountants differentiate themselves, but I don’t think they give you
much of a head start.
Since TAFE, I’ve had a variety of jobs with finance companies,
merchant banks and other corporates as well as not-for-profits.
It wasn’t until I was 29 that I got my job with Greenpeace.
What does the job involve?
At first I spent most of my time dealing with accounts payable but the
responsibilities of the role soon grew.
When I first started, there were just two accountants and I looked
detour after the Pacific group, based in Suva, Fiji, one of the two legal
entities that makes up Greenpeace Australia Pacific.
Find more jobs that can
take you around the world My responsibilities included preparing the annual accounts and audits
in Career FAQs Global. as well as preparing the end of year financial statements for the Pacific
www. careerfaqs.com.au group which involved annual travel to Fiji. I was also still responsible
for supervising the accounts payable in the Sydney head office.
I then moved on to preparing the annual budget for the whole
organisation, a year in advance. This involved discussion with all
budget holders from senior management down to individual campaign
areas. Strict time lines, dead lines and the amounts of money required
for each campaign department had to be specified before the budget
went to the board so that they could sign off on it.
Following a restructure of the finance team, which ultimately saw the
numbers of accountants grow to four, I now spend the majority of
my time working more closely on the day-to-day details of budgets.
Every month we identify in which areas ‘over’ and ‘under’ spends are
occurring and then find out why. We then get changes made where
necessary. In the finance department we have to manage the whole
budget even though we aren’t in control of the actual spending.
Do you come into contact with the campaigners in your job?
I spend time training campaign staff to understand the accounts
systems so that they can do their own follow-up work. It is important
that everyone understands the budget process, and their own
accountability and responsibilities.
What do you like best about working for Greenpeace?
I really enjoy the atmosphere of the office that is unlike any other I
have experienced. There is plenty of buzz, the people are passionate
and excited to be working for Greenpeace.
74
Insider info
You need to be quick thinking and able to respond to new and

interesting queries with new ways of doing things. If there is
Greenpeace activity on the go there is always finance related issues.
You have to find he best way to move money around to help them out.
You also get involved in those activities as well. You are not just seen
as finance staff but as an activist as well. You become involved.
There are also good working conditions that include a 35-hour week,
flexitime, parental leave and long service after 5 years. The whole
package is better than some private companies I have worked for.
The job does become stressful because the staff understand that
resources aren’t easy to access. I can’t get a new laptop just because
I think I need one. There are protocols for who gets what. If we
are short staffed you have to work a bit harder, you just can’t get
temporary staff to come in. This differs from some financial companies
I’ve worked for where spending money doesn’t seem to be an issue.
What do you think young people thinking about accountancy as a
career would like to know?
There are tedious aspects of my job but I think it is so important to
find work in an industry that you really enjoy. In one of my earlier jobs
I worked for a video distribution company where the accountants were
in
all totally into movies. This meant they were happy and it was also a
great place to work. It’s the same with Greenpeace.
brief
Accountant, Greenpeace
With accounting you can work in any industry you like or have an $$$ 62K – 67K
affinity for and that makes it interesting and enjoyable. hrs/wk normally 35, but if
it’s busy we do more
Does Greenpeace offer the opportunity to work overseas?
life–work very good
Yes, I have worked in Fiji and every second year I attend an flexibility fl exitime, parental
international meeting where Greenpeace accountants from around the leave, long service
world meet to discuss common issues. after five years
75
Accounting
76
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Ready, set,
go for it!
What qualifications do I need?
Basic qualifications in accountancy are gained through tertiary
eduction, at a university or TAFE. There are also a few specialist areas
of accountancy which require practitioners to meet government
registration requirements. Tax agents work in this area.
Over and above this, the profession in Australia, as in other countries,

is largely self-regulating. The assurance that practitioners hold an
appropriate level of education and practical experience, above basic
tertiary qualifications, is governed by professional, member-based
accounting organisations.
Based on membership numbers across Australia the three biggest

professional organisations are the CPA, ICAA and the NIA.
Once accountants are adequately qualified by these organisations

they can identify themselves as being members. In other words, these
organisations provide an accreditation or qualification for accountants
that proves they have a higher level of technical proficiency, know-how
and experience, over and above a basic tertiary education. Accountancy
organisations also require new members to gain additional, practical
experience in the field overseen by an established and senior member
from the organisation. This is known as a mentor program.

Accounting
So unlike other careers in the sciences or humanities, postgraduate

study and professional development are not dominated by the university
system. In accountancy, it is largely the professional organisations that
oversee training and accreditation following tertiary study. But it also
worth noting that some professional accounting bodies, like the NIA, do
provide their post-tertiary study through a university.
Accreditation from these organisations lets potential clients or

employers know that accountants have, and maintain, a specific level
of proficiency. It makes an accountant a more valuable member of the
profession both in terms of their abilities and what they can earn.
Beyond accreditation, accountancy organisations provide a range of

services to their members including:
n ongoing education (often compulsory)
n professional development generally
n networking opportunities
n practical resources and workshops
n updates on legislative or other changes effecting the profession.
They also lobby on behalf of members to governments and the public.

This can involve advertising the ‘brand’ or organisation to help members
get jobs and business. They monitor discipline and ethical standards of
MYTH members to ensure and maintain the good name and reputation of
once you have the organisation.
your qualifications,
no more training
is necessary University courses
Accounting is constantly Because of the dominant role that the accounting bodies play in
changing and
practitioners have to ensuring the adequate qualifications of accountants, tertiary education
stay focused and keep may only be the first step to becoming a professional in the industry.
up to date with new
legislation. Accountants The key point is that the accounting bodies have a set of prerequisite
fact
have to commit to
on going training subjects, all accounting-based, that must be completed before you can
throughout their career. enter their basic programs that then allow you to obtain full membership.
82
Ready, set,
go for it!
As a guide, all business-related degrees such as commerce, economics

and finance completed with an accounting major, often provide the
necessary subjects to satisfy the entry criteria of the accounting bodies.
While all universities in New South Wales and the ACT are accredited by
the major accounting bodies, it is important to remember that not all
the subjects they offer satisfy the entry requirements of all the major
accounting organisations. In other words, it is crucial that students check
that the degree course, and subjects offered by their preferred university,
satisfy the particulars of the accounting body that they want to join.
If you know you are going to do the chartered accountant’s

program then definitely get some advice to make sure you are on
the right track. When you choose subjects you must be sure you
leave enough room to fit in the CA prerequisites.
Shanya Lee*, Assistant accountant in her early 20s
83
Accounting
Some business courses at university and TAFE do not have the

necessary accounting subjects that the CPA and the ICAA require. If you
have one of these qualifications – a business degree or an advanced
diploma from TAFE without the prerequisite accounting subjects – or
non-business degree, it is still possible to gain basic entry to the
accounting organisations, but you will have to undergo further study
in the form of a conversion course. It is through these types of courses
that you can complete the all-important prerequisite subjects that allow
basic entry to accountancy organisations.
Some conversion courses offered by Australian universities that are

accepted by the ICAA include:
n Australian National University

– Master of Accountancy
– Master of Professional Accounting
n University of Canberra
– Master of Professional Accountancy
n Australian Catholic University (North Sydney & Strathfield)

– Master of Business Administration (Accounting)
n Charles Sturt University (Wagga Wagga)

– Master of Accountancy
n Charles Sturt University

– Professional Attainment Program
n Macquarie University
– Master of Accounting
– Postgraduate Diploma in Accounting
n Southern Cross University

– Master of Professional Accounting and combined degrees
n University of New England

– Graduate Diploma in Financial Management
– MBA (Professional Accounting Stream)
n University of New South Wales

n University of Sydney
– Master of Commerce (Professional Accreditation)
– Accounting Extension Courses (not a full conversion course)
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Ready, set,
go for it!
n University of Technology, Sydney

– Non-Award Graduate Conversion Course
– MBA (Professional Accounting)
n University of Western Sydney, Nepean

– Master of Accountancy.
The NIA accepts students who have completed an advanced diploma

in accounting from TAFE. Those students are required to complete a
Professional Education Program (PEP) Stage 1.
The major point is that you must satisfy the key entry criteria, namely
a range of accounting subjects, determined by the accounting
organisation that you want to join. It is not so important what particular
degree you gain these subjects through.
I did a three-year Bachelor of business at UTS. It was a double

major in business and accounting. It was a well-structured
course, and the theory I learnt has worked well in practice. Doing
an accounting major meant I could move straight into the CA
program without a bridging course. But this isn’t always the case.
Students should check with the ICAA, otherwise they might
have to do extra subjects.
Will Yan*, Trainee auditor in his early 20s
What can I expect to learn?

Most of the subjects in accounting relate to finance and financial
management.
Some of the accounting subjects that can count towards the prerequisite
requirements of basic membership to accounting bodies include:
n Assurance Services n Strategic Management

and Auditing Accounting
n Taxation n Costing Principles and Methods
n Financial Accounting n Accounting for Business
n Financial Reporting n Management Decisions
and Disclosure and Control
n Insolvency and Reconstruction n Accounting Philosophies
n Knowledge Management and Theories
n Personal Financial Planning n Law of Business
and Superannuation Organisations
n Financial Risk Management n Revenue Law.
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Accounting
Again it is worth stressing that students should check that their course of
study covers both the core and elective subjects that will ensure satisfying
the entry requirements of their preferred accounting organisation.
I elected to undertake tertiary studies on a part-time basis. I

assessed the various accounting bodies and their programs and
decided that NIA membership coupled with a MBA (from AGSM)
would be more beneficial to my career. I have since had a varied
career in accounting, management consulting, investment banking and
general management across a mix of industries and organisations.
I have also supplemented the NIA Program with US accounting
qualifications to address any future offshore career expansion.
Marc Ting, FPNA, Head of Strategic Information Management, Banking Division,
Macquarie Bank
I did a Bachelor of Economics with a major in accounting and a minor

in taxation. The subjects you have to do are definitely worthwhile as
they prepare you well for what follows in the CA program.
Shanya Lee*, Assistant accountant in her early 20s
TAFE courses
Studying accountancy at TAFE is no
My TAFE course
barrier to gaining basic membership
gave me a practical
with the major accounting bodies.
grounding in tax work
that I didn’t get through Importantly however, both the CPA and
my university degree. the ICAA do require the completion of a
university degree for basic membership.
In this context TAFE study can be seen as a first step to becoming a qualified
accountant. Prior study through a TAFE course can provide advanced standing
for university degrees in place of secondary school studies and/or first year
degree subjects. TAFE students have to check to make sure their particular
circumstances and study program comply with both the enrolment and
membership requirements of their preferred university and accounting body.
Basic membership of the NIA is open to TAFE graduates with an

Advanced Diploma in Accounting.
Melissa Blake started working as an accountant with her parents’ tax agency
when she was 26. She is now the director of the firm. Even though she went
on to study at university, Melissa’s first taste of accountancy training was
through a TAFE course which has proved to be time very well spent.
‘My TAFE course gave me a practical grounding in tax work that I didn’t
get through my university degree,’ she says.
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Ready, set,
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Industry-based study
The three major accounting bodies in Australia are CPA Australia, the
ICAA and the NIA. They are all members of the International Federation
of Accountants that monitors and maintains international standards.
They are also all bound by the Corporations Act.
What are the differences between qualifying through one and not
the others?
CPA Australia produces certified practising accountants who have

university degrees and have completed their additional training through
CPA Australia. CPAs work in all industries including banking, finance, IT,
entertainment, the environment and health. CPAs are also employed in
all sectors, from industry, commerce and public practice to academia
and government.
The ICAA produces chartered accountants who have university degrees

and have completed additional study with the ICAA. They go on to
work for professional accounting firms, such as PwC and KPMG and
commercial organisations.
The NIA pathway to becoming a professional national accountant

(PNA) provides an alternative for accountants who are looking for
a professional accounting body which will recognise their different
pathways to their accounting profession and provide appropriate
recognition on a professional basis.
Qualifying through CPA Australia

The first step to becoming a certified practising accountant is to join
the organisation as an Associate member. All graduates who have
completed a tertiary degree accredited by CPA Australia are eligible to
become an Associate.
Generally speaking, commerce and business degrees (with majors in

accounting), awarded by all the universities in New South Wales and the
ACT, are accredited by CPA Australia. Nonetheless, all students should
check directly with CPA Australia to make sure their course does comply
with the accreditation rules.
If you hold another type of degree (not business or commerce), or

such a degree is not accredited by CPA Australia, then you will have
to complete a post-graduate conversion course accredited by CPA
Australia to become an associate member. Again it is best to check with
87
Accounting
CPA Australia to find out whether your educational background qualifies

you for Associate membership.
To become a full member and carry the certified practising accountant

accreditation, Associate members must attend a Member Orientation
Workshop (MOW) and complete the CPA Program and the practical
experience Mentor Program.
The MOW ensures you make personal contact with CPA Australia staff
and that you are familiar with the range of facilities offered by your local
CPA Australia office. It also allows you to meet with your peers in an
informal environment.
The CPA Program involves a technical education series of postgraduate

course study, offered through distance learning. It is designed to
bridge the gap between the theory of your university studies and the
practicalities of the workplace. Associates must complete six subjects
from a total of 12, of which three are compulsory. Compulsory
subjects are:
n Reporting and Professional Practice
n Corporate Governance and Accountability
n Business Strategy and Leadership.
To advance to CPA status, Associate members must also complete

three years of relevant and mentored work experience. Mentored work
experience allows you to take advantage of the experience of other
CPAs as you establish your own career.
First and foremost, the CPA Program is a professional education

program, not an academic award ... It is recognised by all
universities in Australia, and many overseas, for advanced
standing into specialist masters and MBA programs.
Mark Coughlin, President, CPA Australia quoted in AFR, 18 July 2005, p. 55.
To maintain CPA status members are also required to undertake

continuing professional development of 120 hours every three years.
glossary Qualifying through the ICAA

CA means: Accountants wishing to become Australian Chartered Accountants need
– Chartered Accountant to obtain the Graduate Diploma of Chartered Accounting through the
CA Program.
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To be eligible for this program you must have studied the prerequisite
accounting subjects as part of your degree at a CA-accredited
university. All the major universities in New South Wales and the ACT
are accredited but again individuals should check directly with the
ICAA to make sure that their course content satisfies the entry criteria.
If you have not completed the prerequisite subjects you will need to
undertake additional subjects at your university or at another university.
The Institute recently announced changes to its professional

entry program, the CA Program. The changes included ‘widening
the funnel’ to allow entry for qualified graduates from non-
accounting backgrounds. They will be required to pass a test to
assess skill gaps.
Stephen Harrison, Chief executive officer, Institute of Chartered Accountants in Australia
quoted in AFR, 18 July 2005, p 55.
The recently revised CA Program consists of nine months mentored work

experience at an ICAA-accredited firm before starting the formal study of
five modules taken over a minimum of two years. The study is combined
with continued work experience. The modules are:
n Financial Accounting and Reporting
n Taxation
n Management Accounting and Analysis
n Audit and Assurance
n CA Integrative.
The CA Program leads to an accredited graduate diploma that

aims to develop the technical skills of accountants. It takes a
different approach to a course that originates in a university.
The CA Program is designed and written by the profession for
the profession.
Sheena Frenkel, General Manager, CA Program and Admissions, Institute of Chartered
Accountants in Australia quoted in AFR, 18 April 2005, Education p. 29.
To maintain status as a chartered accountant, a member must complete

continuing professional education of 120 hours every three years.
89
Accounting
Qualifying through the NIA

The NIA has four levels of membership:
n student register
n associate (ANIA)
n member (MINIA) and
n professional national accountant (PNA).
Each level of membership has separate entry requirements.
An associate of the NIA has completed either an Advanced Diploma in

Accounting or a university degree majoring in accounting. Associate
members of the NIA usually work as bookkeepers and can obtain
a bookkeeper’s certificate through the NIA so that they can lodge
business activity statements (BAS).
A member of the NIA has completed an undergraduate degree in

accounting and has three years worth of relevant experience or has
completed an Advanced Diploma in Accounting, has three years of
relevant industry experience and has completed the first stage of
the NIA PEP program, which is a Graduate Certificate in Professional
Accounting. This graduate certificate can be obtained on a remote or
local basis.
Members of the NIA can obtain a Public Practice Certificate and can
work as an accountant in public practise or work as an accountant in
industry for a company.
A PNA is the highest designation a member can attain. PNAs are

qualified with an undergraduate degree in accounting and have
completed both stages of the NIA PEP Program, which is an eight-
subject Masters of Commerce in Professional Accounting.
PNAs are also required to complete three years of mentored work

experience. PNAs hold senior positions and work in a range of areas in
accounting such as management accounting to auditing for small- to
medium-sized enterprises or large corporations.
Members who have completed an Advanced Diploma in Accounting

and also completed the first stage of the NIA PEP program are eligible
only then to complete the second stage of the NIA PEP Program
to qualify as a PNA. They are required to complete three years of
mentored experience.
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The PEP Stages 1 and 2 can be completed in one year on a full-time

basis. But many members choose to study part time. They have up to
five years to complete the full program.
A major distinction of the NIA is that members at all levels of

membership are required to undertake 80 hours of continuing
professional education (CPE) every two years.
Pursuing postgraduate studies in accounting and finance and

obtaining full membership with the NIA provide the professional
basis needed to earn managerial roles in accounting. My
membership with NIA has enabled me to keep in touch with the
latest developments in the industry. I have also found that the
CPE conducted by the NIA is very relevant to the day-to-day
application at work.
find out
more
Margaret Paheerathan FPNA, Financial controller, Australian Labor Party NSW Branch
I started my professional career as a finance officer at NSW www.cpacareers.com.au

Metropolitan Council after completing high school. I went on to www.icaa.org.au
study a Bachelor of Business with a major in Local Government
www.flyhigher.com
and Business Management via correspondence. This foundation
www.nia.com.au
paved my successful career path with the Local Government in
NSW. My degree as well as my extensive senior management
experience laid the necessary foundation to enable me to attain
my NIA accreditation, which I am very proud of.
Jim Apostolovski MNIA, City treasury manager, City of Sydney Council
Other ways into the profession

It is also possible to start work with an accountancy firm and then go
on to study to gain qualifications. Accountancy firms employ people
straight from high school and then support them as they undertake
further study.
I started as a cadet at one of the big four accounting firms

after high school. I went in knowing what I had to do to fulfil the
cadetship requirements. I did a Bachelor of Business with the
subjects defined so that I could go on to do the CA Program.
Jane Thomas*, a client manager with Deloitte in her late 20s
Whether completed while working or independently, tertiary study

is the first step to gaining a qualification with the major accountancy
organisations. They all require further postgraduate study as well as a
period of practical work experience.
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Accounting
Accountants from overseas can also become members of the major

Australian accounting organisations but this depends on the particular
qualifications they hold. Foreign trained accountants need to check
with their preferred accounting organisation to see if their qualifications
satisfy local entry requirements.
... if an accountant receives a qualification from overseas and

comes from a non-English-speaking country they have a low
success rate in gaining a position as an accountant. On average,
only about one-third have achieved that status after three years
in Australia. However, if they come from an English-speaking
country such as Britain or New Zealand the employment rate is
about double that level.
... [non-native English speakers] do nowhere near as well as

Australian-born persons or people who arrive here from English-
speaking countries. Recently, we have seen an upsurge in migrants
coming here who have completed Australian training as overseas
students then changed their status to permanent residents. The
evidence is they struggle to find professional appointments.
Bob Birrell, CPA Australia, quoted in the Sydney Morning Herald, 25 June 2005,
My Career p. 2.
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How do I get that job?

If you are studying to become an accountant, or are already qualified,
the good news is that there are plenty of jobs currently available in
both New South Wales and the ACT. What’s more, this high demand for
accountants is expected to last for the next five years or more.
But before you find yourself in that dream position of well paid,
satisfying and secure employment, you still have to get the job.
How are people recruited?

Large companies, the big four accounting firms, as well as government
departments which require a steady flow of accountants, often have
formal recruitment procedures for juniors at fixed times every year.
Examples of how these graduate recruitment programs work and what
they involve are examined in the next section.
Outside of these formal programs, accountants are also employed by

all kinds of organisations, as they are required. Just like any other type
of job, this can occur because the organisation is growing or because of
staff turnover.

Accounting
Less formal employment processes are just as rigorous and competitive

for job seekers as the more formal ones.
Job advertisements for accountants appear in all the usual places such
as local and national newspapers and on employment websites on a
regular basis. The major accounting organisations also provide job
search facilities. University and school journals and bulletin boards can
also list job opportunities.
Networking
Networking is also an important way to find out what is happening in
the industry and, just as importantly, where jobs are available. The CPA
estimates that only one in five jobs are advertised to the public. Your
networks can include people you meet from all aspects of your life. They
include friends and family, sports and other social and professional
organisations, school and university contacts as well as those you meet
on the job.
Attending career evenings held by the Institute of Chartered

Accountants and the CPA gave me information about the types
of positions and jobs available in the accounting industry. I think
networking at these events allows you to get to know the roles,
and which organisations are best suited to you. It also gives you
the opportunities to meet those you might work with in the future
and those in positions that you will also be undertaking.
Will Yan*, Trainee auditor in his early 20s
find out
more Graduate programs
www.pwc.com/au Graduate recruitment programs are also an important source of
www.careers.deloitte.com employment for accountants fresh out of high school or university.
www.kpmg.com.au Typically these programs are run by larger organisations and go for one
www.ey.com/au/careers to three years. They are designed to introduce graduates to a variety of
www.bdo.com.au the different types of work accountants perform within the organisation
www.anzgraduates.com.au and often involve rotation through various departments. Benefits of
www.westpac.com.au these programs include stable employment with good pay, a clear
www.national.com.au career path, extra training and education, as well as support for further
www.commbank.com.au external study.
www.qantas.com.au
Undertaking a university degree while working as an auditor is
www.optus.com.au
providing me with a balance of knowledge and experience, which is
www.bhpbilliton.com
of great value.
www.careers.colesmyer.com
Roberta Chan*, Trainee auditor
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It is also important that university students start planning early as graduate find out
programs typically recruit a year in advance. For any given year there will more
be strict application deadlines that have to be followed if students want to http://lggrads.readyfit.com.au
enter a graduate recruitment program in the following year. https://jobs.nsw.gov.au/
content GraduateRecruitment.
There are many organisations that offer graduate recruitment programs
html
to accountants and students should check with the careers office at
www.psm.act.gov.au/
their university as well attending career fairs to explore the full range of graduate.htm
graduate recruitment opportunities that exist. www.ato.gov.au/print.
asp?doc=/content/5091.htm
The big four accounting firms all offer graduate recruitment programs.
www.accc.gov.au/
Indeed a 2004 survey of over 7000 students found that the big four
www.dewr.gov.au/
accounting firms were among the top six graduate employers from a
workingInDewr/jobsAvailable/
total of over 500 organisations. graduate/search.asp
www.community.nsw.
At KPMG we promote our graduate recruitment program at gov.au/recruitment.htm
university fairs and careers’ events and take along young www.epa.nsw.gov.au
accountants to talk about what it is like to work with us.
www.rta.nsw.gov.au
Throughout the process, the graduates spend a lot of time with
accountants from various areas where they might work so they
can see the range of opportunities open to them.
Lisa Geerlings, KPMG national manager, attraction and resources
Other large accountancy firms also run graduate programs. For example,
BDO Chartered Accountants and Advisers who has jobs for 100 graduate
accountants nationally, in 2006.
Large, well-known Australian companies also have graduate recruitment

programs for accountants. These include those in the finance sector
including the major banks:
find out
n ANZ more
n Westpac www.hays.com.au/
career/reccon.asp
n National
n Commonwealth.
www.roberthalf.com.au
Companies in other areas of business also want accountants in their www.rosshumandirections.
graduate recruitment programs. These include: com
www.hudsonresourcing.
n Qantas com.au
n Optus
n BHP
n Coles Myer.
All levels of government – federal, state and local council – also recruit
accountants through their graduate programs.
95
Accounting
Several federal government bodies run graduate recruitment programs

for accountants. These include the Australian Tax Office, Australian
Competition and Consumer Commission and the Department of
Employment and Workplace Relations
Many departments in the state government run graduate recruitment

programs. These include the audit office, Department of Community
Services, the Environmental Protection Authority and the Roads and
Traffic Authority.
The NSW Government is committed to recruiting and retaining

talented young people in the public sector, where skills are valued,
potential is recognised and commitment is rewarded. The public
sector welcomes skilled graduates, and is providing career and
development opportunities in a wide variety of jobs and agencies
in Sydney and across NSW.
Col Gellatly, Director General
With 80 government departments and statutory authorities the New

South Wales state Government there are many opportunities for new
graduates in the public sector.
Recruitment agencies
It is also common for job seekers to apply for a job through a
recruitment agency which acts as a go-between for job seekers and
employers. Prospective employers simply don’t have the time to read,
contact and interview what can be hundreds of job applicants. Large
company employers and increasingly smaller ones as well, find it
cost effective to let specialist recruitment agencies go through all the
applications and filter out the most suitable.
Recruitment agencies work for both job seekers and employers

and aim for a win-win situation for both parties.
Kathryn Oakman, Public relations manager, Hays recruitment agency
It is not always practical however, for a recruitment agency to put

forward all possible candidates for a given job. So in this sense they can
be a job seeker’s first hurdle to getting a job.
But on the bright side recruitment agencies also need a strong array of job-
seeking candidates to present to employer-clients. To achieve this they offer
advice on résumé layout and interview technique. They also provide all the
details about the position and the company offering the job. This helps to
ensure job seekers have the best chance of securing their preferred role.
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Stand out from the crowd

Accountants in today’s market do not spend their whole day sitting in
front of a computer. Much of the day can be spent negotiating, meeting,
and liaising with clients and fellow workers. This is particularly the case
as accountants progress through their careers.
Employers are eagerly looking for people who stand out from the rest of
the applicants.
Candidates are successful when they can show attention to detail and
have excellent communication skills. You can’t be meek and mild and
misunderstood. You have to be able to talk to clients.
Express confidence and that you really want the job. They like
people who can be leaders but who can also work as part of a
team. You have to be hard working but still lead a balanced life
and not be a bookworm.
Shanya Lee*, Assistant accountant
97
Accounting
Understanding profit and loss statements and balance sheets is the

practical base of a good accountant, but the best have to be able to
communicate this knowledge effectively and with enthusiasm. They also
have to be responsive and understand clients’ needs.
Bright and bubbly candidates do best. A positive, can-do

personality will help candidates get the job. With this in mind
accountancy is still a results-based game that requires people
focused on results.
Sharmini Thomas, Manager with Michael Page Finance
Accounting is an extremely professional environment that offers

incredible job security, career progress and good pay, but it is an
absolute misconception that it’s performed by older retiring types in
cardigans toiling away with a calculator.
The best way to find a job that suits you is to let your personality
shine through.
I showed interest and enthusiasm in the position offered.

Energy and enthusiasm is extremely important during the
interview process.
Jack Turner*, Audit analyst
Create an outstanding application

An employer’s first taste of a candidate is through their résumé and
there is no doubt these first impressions count. A good application
describes in a clear and concise way an applicant’s experience and
qualifications.
To get a job with us an applicant’s résumé must be good. Only 10

people are selected for an interview from roughly 200 applications
we receive. Successful interview applicants are those that
impress us with their personality. They have to etch themselves
on our memory in as little as 10 minutes. They can’t just expect to
say yes to every question.
Charles Black*, Associate partner, audit
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The résumé
For an entry-level accountant a résumé should be no longer than two
pages. It should include any part-time work experience no matter where
it was gained.
If you worked at McDonalds or with a family business doing any

job at all, put that in your résumé.
Sharmini Thomas, Manager, Michael Page Finance
A résumé should also include an applicant’s interests and achievements

and any involvement in sport or with community groups.
If applicants do have actual experience in accounting or related areas

this should also be clearly and separately documented.
Experiences that have involved working with other people in a team or

some other group situation are also looked on favourably.
The biggest problem with résumés is spelling mistakes. ‘This is an

absolute turn-off,’ Sharmini says.
Résumés and cover letters should be short, sweet and easy to understand.
Résumés should be clearly set out with the information evenly spaced and
not bunched up and the print size should be easily readable. Using bullet
points to detail your experience and background can also be effective.
When you list your experience, clearly state when you started, when you
finished, location and type of job, as well as why you finished that job.
All contact details should also be absolutely correct and don’t forget to
include your email address and mobile phone number.
find out
Don’t be ambiguous. Be straightforward. If you are not direct it more
can mean you have something to hide. Resume tips available from
the following websites.
Sharmini Thomas, Manager, Michael Page Finance
www.seek.com.au
Résumés should also include major school and university results. www.mycareer.com.
au/advice-research/
There is plenty of information publicly available providing advice on how
to write perfect résumés and cover letters. The majority of web-based
employment portals offer this information, just as recruitment firms www.hays.com.au/
career/resume.asp
have this advice available on their web sites.
When I started the job-hunting process, I really wanted to know

what types of questions would be asked. But it was easy as there
is so much information available now, particularly on job search
websites, that helps you prepare.
Will Yan*, Trainee auditor
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Accounting
A well-written résumé increases your chances of getting the job you want.
1
Résumé
Mary Smith
117 River Street
Homesville 2222 NSW
(H) 612 8847 8459
(M) 0410 123 456
Email:
SUMMARY OF QUALIFICATIONS
I have listed my work experience, education, and interests below.
WORK EXPERIENCE
January, 2005 – Present: Accountant (Settlements), Name of Major Bank
Responsibilities include:
– basic accounting functions for classified transactions involving stock shares
and government bond trading
– finalising the day’s balance and preparing and printing management reports
– investigating and reconciling discrepancies when they occur.
Summer, 2003 – 2004: Customer service officer, Big Insurance Ltd
Responsibilities included:
– providing information on various insurance products to customers
– follow-up calls to help with any further queries and generate sales
– maintain time sheets and customer satisfaction questionnaires.
March – September 2002: Pizza delivery person, Homesville Pizzeria
2000 – 2001: Grocery clerk, Food Fresh Supermarket
EDUCATION
2002 – 2004: Bachelor of Commerce (Accounting major), University of Sydney.
fyi 2001: Higher School Certificate, Homesville High. TER: 415.
INTERESTS
You’ve got about 100 I am an active member of the local Water Polo team which I joined in 1999 and was
words to sell yourself vice-captain in our premiership team in 2003. I also enjoy other sports such as
to a prospective boss. netball and tennis.
Make every one count! I am an avid reader and enjoy learning French in my spare time.
I also help with fund raising activities and the outdoor work of my local Bush
Regeneration Society.
Active member of the local Stock Picking Club
REFERENCES
Available upon request.
Notice that in ‘work experience’ the current job is listed first followed by
the second last job and so on. Writing about your interests can also give
the prospective employer some idea of who you are as a person and
how you’ll fit into the organisation.
You can see a full sized version of this sample resume in the appendixes.
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Tips: Résumé writing

n D
O spend time working on the layout, sentence structure
and content of your résumé as a well-presented résumé
can boost your chances of getting the job.
n D
O be truthful.
n D
O NOT plagiarise anyone’s work.
n D
O NOT send a résumé that has not been carefully
proofread or waste employers’ time by applying for
positions in the profession that require essential skills and
competencies that you do not have.
n U
nless an advertisement states that training will be
provided, it is taken for granted by a prospective employer
that you have the skills.
n our résumé should include:
Y
– your qualifications
– your employment history with brief job descriptions
for each
– time worked for each job (ie. January 2003 –
February 2005)
– professional awards and achievements
– your interests
– your referees.
n K
eep your résumé to two or three pages (standard).
n If a company you have worked for may not be well known,
include a sentence to explain who they are and what they do.
n Your career history should begin with your most recent job
first and then work backwards.
n C
heck job-search websites for résumé samples and tips.
n C
onsider using a professional résumé-writing service.
n Write each résumé to fit the job that you are going for.
n K
eep the master résumé as an electronic file and
update regularly.
n K
eep copies of each individualised résumé for referencing
when applying for similar jobs.
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Accounting
The cover letter

Your cover letter is a very important part of your job application and may
make a difference in determining whether you get an interview or not.
It should always be included with your résumé – even if the employer
does not request it.
A cover letter must be well laid out, direct and show how you, as an
applicant, want to work, and are able to work, in the position you are
applying for.
The principles applying to résumés also apply to cover letters. They

should be clear, concise and free of errors!
Don’t simply copy all of the information you have used in your résumé;
you should customise your cover letter for each job that you apply for,
so you can directly address the specific job requirements. It is a very
valuable tool that you can use to highlight your particular strengths. It
also allows you to show your passion for the job – with a dynamic cover
letter you can prove to an employer how you can make a difference to
their workplace.
1
Mary Smith
117 River Street
Homesville 2222 NSW
(H) 612 8847 8459
(M) 0410 123 456
[email address if you have one]
Date: [xx Month Year]
Name of person
Company
Address
City State Postcode
Dear [Real name of person receiving letter if possible],

I would like you to consider me for the role of graduate accountant with the ‘top tier
merchant bank’ as advertised on the employment.com web site on [date of
advertisement]. I completed my Commerce degree with an accounting major last
year and am excited by the prospect of using this knowledge, and my natural
passion for financial markets, to become a motivated member of your client’s team.
For the last six months I have been working in the settlements section of a major
trading bank. In this role I have had to settle and balance the days trading
accounts over a variety of financial instruments, including government bonds and
share market trades. All ledgers must be balanced by the end of the each day
which requires attention both to detail and deadlines. I work unsupervised but
within a team environment.
Working under pressure with a motivated team within the financial markets is very
satisfying. The financial markets have always interested me since I first played the
School StockMarket Game in Year 10, a competition in which my team finished in
the NSW top twenty.
Besides my accounting major, my commerce degree included several subjects
related to the financial markets including: pricing financial products, corporate
governance and financial accounting systems.
With my successful work experience and academic qualification (credit average), I
believe I can be a valuable addition to your client’s company. I enclose my resume
for your attention and hope that if you have any questions that require clarification
you will not hesitate to contact me at the above telephone numbers.
I should like to meet with you personally to discuss this further and will contact you
within the next week to arrange a meeting that is convenient for you.
Yours sincerely
Mary Bloggs
You can see a full sized version of this cover letter in the appendixes.
Click here for more industry-specific sample

102 resumes and cover letters from Career FAQs
Ready, set,
go for it!
Selection criteria
All cover letters and résumés must address the selection criteria that
have been advertised for the position. This is a must. If you cannot
relate how your practical and educational experience meets the
selection criteria you will not be selected for an interview. It is as simple
as that.
Getting a job is all about the right experience and qualifications.

Any experience at all about how an accounting firm operates is
good, no matter if it was gained while on holidays at university
or elsewhere.
Melissa Blake*, Tax agent (director)
It is important not to waste employers’ time. If you’re not focused and find out
very interested in the position, don’t apply. Also don’t apply for jobs more
that you are not qualified for. For example, if an advertisement says For application
preparation support
applicants must have audit experience and you don’t, then don’t apply.
You must be frank about your experiences. Don’t hide what you www.hays.com.au
don’t know. http://resume.monster.com
Anthony Costa*, Senior tax accountant
103
Accounting
Tips: from a professional recruiter

Your job application is your one opportunity to impress so
you have to get it right.
n Make sure the cover letter relates directly to the

job advertised.
n Mention specifically how you are suited to the job

through your education, experience and personality.
n State why the industry, company or role advertised

caught your attention.
n Be direct in your cover letter, but not too pushy.
n DO standardise the formatting for the cover letter

and résumé.
n DO NOT use standardised responses for all your job

applications. Change responses to suit each job.
n Make sure your personal details are included on the cover

letter and résumé including home and mobile telephone
numbers and email address.
n List three to five responsibilities for each job on

your résumé.
n Include achievements for each job and say how you were
able to contribute to the company – for example, you
streamlined a reporting process; how did you do it;
how much time did it save?
n Provide evidence of real world experience, not fluff.
n Good educational marks? Say so.
n Keep résumé to two pages (for graduates).
n Finally, be yourself because it is you that will be in the

job, not the glamourised version of you.
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How can I stand out at the interview?

Applicants should take their first job very seriously and be decisive
about their chosen path. Changes can be made later on. ‘Run with the
job and give it a real go’, and express this desire in the interview. It is
also important to show that you have a willingness to learn and that and
that you are committed to further education.
Be enthusiastic in interviews. It is also best for job seekers to

highlight whatever communication skills they have, because these
skills are often what employers are looking for in potential employees.
Samantha Valley*, Finance manager
For entry-level positions employers are particularly looking for the right
personality as much as technical skills. Accordingly, applicants should
be relaxed and let their personality shine through.
The stereotype is that accountants are introverted, but bright

and bubbly applicants do best. Personality will give you a profile, it
is not necessarily about technical skills.
It is also favourable for applicants to answer questions using examples

from their past experiences. Applicants should let their real world
experiences, no matter how limited they think they are, be the focus of
their responses.
Entry-level applicants also have to show they’re ready to make the

transition to the workforce and can handle the new responsibilities
this will involve. Applicants have to show that they have the ability to
accelerate as an individual.
I put my career objective in a few lines at the beginning of my

résumé. This allows the employees to see where I want to go and
that I have direction in my career.
Will Yan*, Trainee auditor
Preparing for the interview

Good preparation is just one of the keys that helps ensure a successful
interview. Candidates have to be aware of the types of questions they
are going to be asked, just as they should have a good understanding
of what is required in the position being offered. They should also know
about the company offering the job, its size, sector and history, and
other specific characteristics that it has.
105
Accounting
Job applicants need to be prepared for interviews by doing

research on the company advertising the job.
Rob Jano, national practice manager with Hudson Accounting & Finance,
points out that an interview is a ‘two-way-street’ and candidates must
determine through questioning whether the company will give them
the opportunity for the growth and development they seek. Probing
questions you might ask include the following topics:
n a detailed description of the position
n reason the position is available
n culture of company
n anticipated induction and training program
n what sort of people have done well
n advanced training programs available for those who demonstrate

outstanding ability.
n earnings of those successful people in their third to fifth year
n company growth plans.
Making an impact at the interview

The simple things are also important in an interview situation: a good
handshake, eye contact, posture and a warm smile. The first moments
of an interview can make the biggest impression.
Be yourself. Try to let your personality come through in your

interviews and don’t try to be someone you’re not – your
interviewer will be able to tell. Relax and try to find something in
common with your interviewer – it will help both of you and you
will make a better impression.
Jane Thomas*, Client manager, (Deloitte)
The way you project your personality is crucial for a successful interview.
It is not always what you say but the way you say it. Confidence is
paramount but you should not be overly confident and certainly not
cocky or arrogant. If an applicant is quietly confident then they don’t
need all knowledge in the world. You do have to show that you are
focused, committed and willing to put in the hard yards.
106
Ready, set,
go for it!
Presentation is also important. Wearing your best outfit gives you

confidence as an applicant. There is also no room for being flippant or aloof.
You cannot giggle or look dreamily around the room.
Hays recruitment agency has surveyed over 100 employers to find out
what they like and dislike about candidates for interview.
The top ten turn-ons were:

1 confident, happy and positive attitude
2 strong presentation, in terms of communication skills,
dress and/or handshake
3 provision of real-life examples to demonstrate answers
4 ability to illustrate how they stand out as a candidate
5 clear career plan or aspiration
6 enthusiasm and passion for the role
7 ability to communicate the benefits they can bring
the business
8 prepared questions in advance to ask the interviewer
9 a good understanding of the role
10 an active listener.
The top ten turn-offs were:

1 poor verbal communication skills
2 not answering the questions asked
3 not researching the company or role before the interview
4 leaving a mobile phone on
5 inability to provide solid examples of previous experience
6 exaggerating experience or skills
7 focusing on the negative rather than the positive in
situations or experiences
8 inability to answer technical questions
9 arriving late
10 not displaying an interest in the role.
Always keep trying, every interview you do just makes you better
at it. Don’t give up.
Charles Black*, Associate partner, audit
107
Accounting
find out Psychometric testing

more To help ensure a good match between a job seeker and an employment
www.psytech.co.uk.
position, more sophisticated methods are used in the recruitment process
www.graduatecareers.com and this commonly involves psychometric assessment, according to Rob.
www.graduatecareers.com.
au/content/view/full/136 This type of testing supports the interview process by identifying
www.seek.com.au/editorial/ potential in a candidate to manage the specific job-related tasks and
0-4-9_psychometric.htm also to fit into the environment and culture of the organisation. These
www.psychometricadvantage. types of tests are just another selection tool among many, and don’t, on
co.uk/
their own, determine whether you will get the job or not.
www.mindtools.
com/page12.html
For the corporate employers, applicants are culled on results
and psychometric testing. You can also expect several rounds
of interviews.
Shanya Lee*, Assistant accountant
Psychometric assessment is a standardised method of assessing your

aptitudes, personality, work style, motivation, attitudes and values. It also
gives employers an insight into how you will actually perform in the role if
you are employed. The tests are administered under standard conditions
with consistent timing, instructions, content, scoring and interpretation.
Psychometric testing measures a range of personal attributes including

aptitudes like problem solving and information organisation, how
outgoing you are and what motivates you.
Common psychometric tools

Ability tests
Ability tests, which measure the extent to which candidates are able to carry
out various aspects of a job, are the most common. There may be a number
of tests, each measuring a variety of skills with varying levels of difficulty.
Personality questionnaires
Personality questionnaires assess the applicant’s typical or preferred

style of behaving, thinking and feeling. The questionnaire is not
concerned with abilities, but the applicant’s perception of their own style
or approach to work. There are no right or wrong answers, although
some traits may be more or less appropriate to certain job roles.
Motivation questionnaires
Motivation questionnaires assess the factors that give people

satisfaction. These are then matched up with the tasks offered in the
role as well as the type of organisation that the role sits within.
108
Ready, set,
go for it!
Interest inventories
Interest inventories assess your personal preference or liking for

specific types of job-related activities in a wide range of occupations.
Preparing for psychometric assessments

Before attending an interview it is important to find out whether there
will be any testing, what the assessment entails and how long it will take.
Because it can be difficult to prepare for these types of assessments, it is

best simply to be familiar with what they involve and then provide honest
answers. It is best to arrive for a test early and after a good night’s rest so
that you do it while you are relaxed and fresh.
Tips: The interview

n R
esearch – visit the empoyer’s website and make note of
some of the details about the company. Prepare a list of
questions to ask during the interview such as questions
about the team you would be joining and projects you
could be working on.
n ehearse – find someone to help you practise answering

R
possible questions to help overcome and pre-interview
worries. This also enables you to organise your thoughts
and think about what you would like to say in the interview.
n C
hecklist – make a checklist of all the documents you will
need to bring to the interview, the names and titles of the
people you wil be meeting with, and most importantly make
sure you know the date, time and location of the interview.
n S
elf-confidence – leave some time to relax before the
interview and make sure you are friendly and calm, no
matter how nervous or worried you may feel. Take care
with your appearance and avoid distrations such as
overpowering fragrances, heavy make up or loud ties.
n B
ehaviour – make sure you don’t interrupt anyone and
keep answers short, relevant and to the point. Maintain
good eye contact and avoid looking at the floor.
109
Accounting
What can I do right now?

Education, qualifications and experience will all help you get work
as an accountant.
HSC students can do several things immediately. They should be looking

for as much work experience as they get, and in particular anything
to do with accounting. They should also think about what tertiary
education courses are available to them and what subjects are on offer.
It is never too soon to be looking for a job. A range of organisations offer
cadet employment programs to HSC graduates.
Students in tertiary education should be thinking about their subject

choices and whether or not they want to enter a graduate program with
one of the industry associations.
All the major industry organisations including the CPA, ICAA and the NIA
have programs for students whether they are at high school, TAFE or
university. These programs provide good information on all aspects of the
accountancy profession, educational resources and job finding news.
Whatever your education or experience you can keep up-to-date with

job opportunities through contacts, career centres, notice boards and
job advertisements in the newspapers and on job search websites.
Recruitment agencies will also help you find work.
People thinking about a career change into accounting should check

with the available tertiary institutions on what courses are available
to them and whether previous degrees or courses in non-accounting
subjects will provide credits for planned accounting courses.
110
PAGE 111
CPA AD
(AD PAGE 9)
PAGE 113
NIA AD
(AD PAGE 11)

PAGE 114
TAFE AD
(AD PAGE 12)

Glossar y
Buzz words
This list of industry buzz words includes glossary terms and acronyms used
throughout the book.
ABS Australian Bureau of Statistics
ACCA Association of Chartered Certified Accountants
actuary a statistician who computes insurance risks

and premiums
administration the day-to-day work required to keep an office or other

organisation running successfully – tasks include filing
and other paperwork, correspondence, maintaining time
sheets and payrolls
AFAANZ Accounting and Finance Association of Australia and

New Zealand
AFR Australian Financial Review
assurance a guarantee that all is what it should be (see audit)
ATMA Association of Taxation and Management Accountants
ATO Australian Taxation Office
audit an examination of records or financial accounts to check

their accuracy and to ensure they have been compiled in
accordance with recognised standards
balance sheet one of a business’ major financial statements that

lists the assets, debts, and owners’ investment in the
business at a specified date
BRW Business Review Weekly magazine
budgeting organising a business’ cash flow and accounts so that all

expected payments can be meet
CA Chartered Accountant
CIMA Chartered Institute of Management Accountants
CMA Certified Management Accountant
compliance satisfying accepted standards, procedures

and legislation
115
Accounting
consultancy a business that offers its specialist services and/or

expertise for hire
corporates large revenue-producing business enterprises
CPA Certified Practising Accountant
CPA Australia the accounting body for certified practising accountants

in Australia
DEWR Department of Employment and Workplace Relations
ethical being in accordance with the accepted principles of right

and wrong that govern the conduct of a profession
flexitime is a work system that allows flexible working conditions:

workers can work longer than the standard hours in a
given time period and then take that time off at
another time
future estimates expectations made today, based on past data and

available evidence, on the likely value of business
statistics or results on a forward date
GCCA Graduate Careers Council of Australia
governance risk the chance that a business will suffer commercially

because managers fail to operate within rules regulating
their behaviour
ICAA Institute of Chartered Accountants in Australia
incorporated a legal way to structure a company common in America
information electronic devices used to manage all the information

technology flows in a business, eg. telephones, faxes, computers
IFRS International Financial Reporting System
legislation the ways and means of making laws
legislative relating to laws
networking making and staying in contact with an extended group

of people, in business or socially, for mutual support
and benefit
NIA National Institute of Accounting
116
Glossar y
niche market a smaller group of customers with specific characteristics

that differentiates them from a larger whole – for
example, the youth market
NTAA National Taxation and Accountants’ Association

of Australia
payroll controlling and organising all aspects of paying staff for

management their work
performance improving the profitability or efficiency of the way a

improvement business is run
poring to read or study something attentively
public practice an accountancy firm that sells its services to a broad

range of customers
regulations principles, rules, or laws designed to control or

govern conduct
regulatory acting in accordance with regulations

compliance
service industry that part of commerce dealing directly with the public
sole proprietors business owners who also operate their businesses
statutory authority a government agency or authority established under

an Act of Parliament with the power to make legally
enforceable decisions and regulations.
superannuation a system that provides for retirement income through

the accumulation of regular payments over a persons
working life
telecommunications the electronic systems used in transmitting messages

– for example, telephone, radio, computers or television
117
Accounting
Appendix 1
Salary table, banking and finance, 2005
State NSW $’000 VIC $’000 WA $’000 QLD $’000
Financial/management accounting
Graduate – single degree 32 – 40 30 – 36 30 – 35 28 – 35
Assistant accountant
40 – 50 36 – 50 34 – 40 32 – 38
(graduate with 1 – 2 years)
Part qualified CA / CPA 50 – 65 50 – 60 40 – 50 40 – 50
Newly qualified CA / CPA 65 – 80 60 – 70 50 – 60 50 – 60
CA / CPA (4 – 6 years) 70 – 110 70 – 90 60 – 80 60 – 80
CA / CPA (6 – 9 years) 100 – 140 90 – 130 70 – 100+ 70 – 100+
Financial controller/chief accountant
Small company /
130 – 160 120 – 150 80 – 130 80 – 120
niche financial institution
Large company / financial institution 150 – 200+ 140 – 200+ 110 – 160+ 110 – 150+
Head of finance/finance director
Small company /
170 – 220 140 – 180 110 – 150 110 – 150
niche financial institution
Large company / financial institution 200 – 300+ 180 – 300+ 150 – 250+ 150 – 250+
Fund accounting
Assistant fund accountant
45 – 55 35 – 55 30 – 40 30 – 40
(1 – 2 years)
Fund accountant (2 – 4 years) 50 – 80 45 – 70 40 – 65 40 – 65
Manager (4 – 8 years) 80 – 100 70 – 90 60 – 80 60 – 80
Senior manager 100 – 150 90 – 130+ 75 – 120 75 – 110
Product accounting/product controller
Assistant product accountant
50 – 70 40 – 60 35 – 50 35 – 50
(1 – 3 years)
Product accountant (4 – 6 years) 70 – 90 60 – 80 50 – 70 50 – 70
Senior product accountant 80 – 110 80 – 100+ 65 – 90+ 65 – 90+
Product controller (small team) 120 – 170 110 – 150+ 90 – 120+ 90 – 120+
Product controller (large team) 150+ 120 – 150+ 110 – 130+ 110 – 130+
Internal audit
Auditor (1 – 3 years) 50 – 70 35 – 60 35 – 50 36 – 50
Senior auditor (4 – 5 years) 75 – 100 65 – 90 50 – 70 50 – 70
Manager 100 – 120 90 – 110 70 – 90 70 – 90
Senior manager 120 – 165 110 –140+ 90 – 130 90 – 120
Head of audit 180+ 160+ 150+ 150+
Tax
Tax accountant (1 – 3 years) 50 – 65 40 – 55 35 – -50 36 – 50
Senior tax accountant (4 – 5 years) 70 – 100 60 – 90 55 – 75 55 – 75
Tax manager (5 years+) 100 – 130 90 – 130+ 70 – 130+ 70 – 120+
Head of tax 200+ 180+ 160+ 160+
118
Funds administration
Fund administrator (1 – 2 years) 45 – 55 35 – 45 28 – 36 28 – 35
Unit pricing / analyst 55 – 65 50 – 60 45 – 55 45 – 55
Accounting manager / team leader 60 – 70 50 – 70 40 – 65 45 – 65
Senior accounting manger 70 – 90 65 – 85 60 – 85 65 – 85
Client service manager 85 – 130 85 – 130 85 – 120 85 – 120
Corporate Actions
Junior (1 – 2 years) 45 – 55 35 – 45 30 – 40 32 – 40
Senior 55 – 65 45 – 60 40 – 55 40 – 50
Supervisor 65 – 75 50 – 65 50 – 60 50 – 60
Manager 75 – 115 70 – 100 60 – 100 60 – 100
Operations
Junior (1 – 2 years) 44 – 55 36 – 45 30 – 35 30 – 35
Senior (2 – 3 years) 55 – 65 45 – 55 35 – 40 35 – 40
Supervisor 60 – 75 55 – 65 40 – 60 40 – 60
Manager 75 – 110 70 – 90 60 – 80 60 – 80
Senior manager / head of operations 100 – 180 100 – 160+ 100 – 150+ 100 – 150+
ISDA confirmations 50 – 65 50 – 60 50 – 60 50 – 60
Trade support 55 – 70 55 – 65 55 – 65 55 – 65
Operational risk 90 – 140 85 – 130 85 – 130 85 – 130
Source: Michael Page International – Chartered Accounting profession salary scale by state,
Finance Salary Survey 2005, p. 9, www.michaelpage.com.au
Note: These salary ranges are only approximate as market rates become less homogenous.
For further information visit Michael Page International: www.michaelpage.com.au
119
Accounting
Appendix 2
Salary table, commerce and industry, 2005
NSW VIC WA QLD
sml/med large sml/med large sml/med large sml/med large
Size of company
$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000
Accounts clerk, accounts payable and accounts receivable
0 – 1 year 36 – 40 40 – 45 30 – 45 30 – 40 32 – 36 32 – 38 28 – 35 28 – 35
1 – 2 years 38 – 48 45 – 52 32 – 38 35 – 45 35 – 42 35 – 40 32 – 38 32 – 40
2 – 5 years 45 – 60 50 – 60 38 – 45 40 – 50 38 – 45 40 – 50 34 – 42 34 – 44
Assistant accountant
0 – 2 years 40 – 50 45 – 53 35 – 42 40 – 48 32 – 38 34 – 40 30 – 36 32 – 40
2+ years 45 – 55 50 – 60 43 – 55 55 – 60 38 – 45 40 – 50 36 – 44 38 – 50
Payroll
Payroll officer 38 – 45 40 – 50 35 – 40 32 – 42 35 – 43 38 – 45 30 – 45 34 – 45
Payroll supervisor 48 – 60 50 – 70 40 – 48 50 – 55 43 – 50 45 – 55 40 – 50 40 – 50
Payroll manager 60 – 80 70 – 80 45 – 60 60 – 70 52 – 69 55 – 70 45 – 60 50 – 65
National payroll
75 – 90 80 – 120 60 – 80 65 – 90 70 – 85 70 – 85 60 – 80 65 – 85
manager
Internal audit
1 – 3 years 45 – 60 40 – 65 35 – 45 45 – 60 35 – 45 36 – 50 32 – 42 36 – 50
3 – 5 years 55 – 80 50 – 90 45 – 70 60 – 85 45 – 65 50 – 75 45 – 65 50 – 70
5 – 7 years 65 – 110 75 – 120 65 – 85 80 – 100 60 – 75 70 – 85 60 – 83 70 – 88
Manager 85 – 120 100 – 140+ 80 – 100+ 90 – 120+ – 85 – 110+ – 85 – 110+
Head – 120 – 250+ – 120 – 220+ – 100 – 220+ – 100 – 220+
IT audit
1 – 3 years 35 – 65 40 – 70 40 – 65 45 – 70 – 35 – 50 – 35 – 55
3 – 5 years 60 – 90 65 – 105 60 – 90 65 – 100 – 55 – 85 – 55 – 80
5 – 7 years 85 – 120 90 – 140 80 – 110 90 – 130 – 80 – 110 – 80 – 100
Manager 100 – 130+ 130 – 160+ 100 – 130+ 120 – 150+ – 90 – 130+ – 80 – 130+
Head – 150+ – 140+ – 130+ – 130+
Tax advisory and compliance
1 – 3 years 35 – 60 42 – 65 35 – 60 40 – 65 35 – 50 35 – 60 30 – 50 35 – 60
3 – 5 years 55 – 85 70 – 90 50 – 85 55 – 90 50 – 75 55 – 85 50 – 75 55 – 85
5 – 7 years 85 – 120 90 – 140 80 – 100 85 – 120 75 – 95 85 – 110 75 – 90 85 – 110
Manager 110+ 130+ 100+ 120+ 85 – 100+ 95 –110+ 90 – 100+ 90 – 110+
Head – 200+ – 180+ – 150+ – 150+
Qualified financial & corporate accountants
3 – 5 years 65 – 80 70 – 90 55 – 75 55 – 85 60 –75 65 – 80 55 – 75 60 – 80
5 – 7 years 75 – 100 80 – 110 75 – 85 85 – 110 75 – 95 80 – 100 70 – 85 80 – 100
7+ years 100+ 110 – 130+ 80 – 100 90 – 120+ 85+ 95 – 130+ 75 – 90 90 – 120+
120
Qualified management accountants and business analysts
3 – 5 years 70 – 80 75 – 90 60 – 75 60 – 85 60 – 75 65 – 80 55 – 70 60 – 80
5 – 7 years 70 – 90 75 – 110 75 – 85 80 – 95 75 – 95 80 – 100 75 – 85 80 – 95
7+ years 85 – 120 110 – 130+ 85 – 100 90 –120 85 – 100 90+ 75 – 95 90+
Manager 120+ 140+ 100+ 120+ 100+ 100+ 90+ 100+
Qualified systems accountants
3 – 5 years 65 – 75 65 – 85 55 – 70 60 – 85 50 – 70 60 – 80 50 – 70 60 – 80
5 – 7 years 70 – 90 80 – 100 65 – 85 75 – 95 70 – 80 80 – 95 65 – 75 80 – 95
7+ years 90+ 100+ 85+ 95+ 80 – 90 95+ 75 – 85 95+
Manager – 120+ 95+ 110+ 95+ 100+ 90+ 100+
Senior management
Group accountant 70 – 95 90 – 150 – 75 – 120 – 70 – 95 – 65 – 90
Finance manager 80 – 120 110 – 150 80 – 120 100 – 120 80 – 100 100 – 120 70 – 90 90 – 110
Financial controller 90 – 140 120 – 180 80 – 130 100 – 150 85 –130 100 – 150 80 – 120 90 – 140
Company secretary 150+ 150+ 150+ 150+ 120+ 130+ 100+ 130+
Finance director / CFO 150+ 200+ 140+ 200+ 130+ 180+ 130+ 180+
Source: Michael Page International – Chartered Accounting profession salary scale by state,
Finance Salary Survey 2005, p. 5, www.michaelpage.com.au
Note: These salary ranges are only approximate guides as market forces become
less homogenous. For more information, visit Michael Page International:
www.michaelpageinternational.com.au
121
Accounting
Appendix 3
Comparative starting salaries of accountants
to other professions
Seeking full-time Seeking full-time
In full-time Further Median starting salary
Bachelor degree employment, not employment, working
employment full-time study ($000)
working part-time or casual
Agriculture 75.3 9.2 15.5 21.2 35.0
Architecture** 90.9 4.1 5.0 26.9 31.3
Building 89.3 3.9 6.8 22.6 35.0
Urb & reg planning 92.3 4.5 3.2 14.6 40.0
Humanities 67.0 12.3 20.8 34.1 33.0
Languages 71.7 9.8 18.5 42.7 36.0
Vis/perf arts 56.0 15.1 28.9 34.9 32.0
Social sciences 68.5 13.2 18.3 34.7 35.3
Psychology 70.3 9.3 20.4 45.1 37.0
Social work 77.9 7.0 15.0 9.4 37.7
Business studies 80.1 7.3 12.6 16.4 35.0
Accounting 87.1 7.5 5.4 9.4 35.0
Economics 85.1 6.1 8.8 25.0 38.7
Education 79.6 3.1 17.3 7.4 40.0
Education post/other 91.1 1.3 7.6 15.6 40.0
Aeronautical eng 76.3 13.6 10.2 16.0 42.0
Chemical eng 84.2 10.8 5.0 28.0 44.5
Civil engineering 96.5 2.5 1.0 10.0 40.0
Electrical eng 80.7 11.3 8.0 19.8 42.0
Elect/Comp eng 77.7 13.4 8.9 25.9 41.0
Mechanical eng 85.4 8.1 6.5 11.7 42.5
Mining engineering 96.6 3.4 0.0 10.1 57.0
Other engineering 85.8 8.2 6.1 18.0 40.1
Surveying 93.0 3.5 3.5 9.8 37.5
Dentistry 97.0 1.5 1.5 2.7 60.0
Health, other 79.3 6.3 14.4 29.1 38.7
Nursing, initial 95.9 0.6 3.5 6.2 37.0
Nursing, post-initial 95.9 0.7 3.3 7.4 37.2
Pharmacy** 99.1 0.0 0.9 15.3 29.0
Medicine 98.3 0.3 1.5 11.4 45.3
Rehabilitation 91.0 2.1 6.8 15.5 40.0
Law 87.4 5.8 6.8 21.6 40.0
Law, other 85.6 6.2 8.1 20.3 33.5
Computer science 70.5 14.9 14.6 22.6 38.0
Life sciences 69.0 10.8 20.2 47.3 36.0
Mathematics 64.4 18.2 17.3 45.3 40.0
Chemistry 78.7 10.1 11.1 50.6 37.0
Physics 69.0 10.1 20.9 54.7 38.0
Geology 79.3 12.9 7.9 43.7 40.0
Veterinary science 98.0 0.0 2.0 8.1 36.0
Total % 79.7 7.4 12.9 23.4 38.0
Total number 34 360 3 172 5 570 15 212 14 026
Total % may not add to 100 due to rounding.
Bachelor degree graduates: employment, further study and starting

salaries (%), 2004
Source: www.graduatecareers.com.au
** pre-registration
122
Appendix 4
Getting in to university
The Universities Admissions Centre (UAC) is the central office for
admission to New South Wales and ACT universities. The UAC processes
applications for most undergraduate and some postgraduate courses.
You can apply for admission to tertiary courses through UAC rather than
applying separately to each institution.
The institutions decide who will receive offers to courses based on

the applicant’s preferences. UAC coordinates the process, and posts
notification of offers on behalf of the institutions.
After completing HSC (NSW)

Your results in the Higher School Certificate will determine which
courses you can get into, depending on your results. The UAC notifies
current New South Wales HSC students of their Universities Admission
Index (UAI) which is used to rank applicants for tertiary selection.
If you haven’t completed the HSC

The Special Tertiary Admissions Test (STAT) provides the opportunity for
those who have not completed Year 12 or who are not attempting Year 12
to be accepted for tertiary study. Minimum age requirements usually apply.
Alternative pathways of admission

There are a number of ways that people can get into a university course:
n pay full fees
n have professional or paraprofessional qualifications recognised
n have employment experience recognised
n receive credit from related TAFE courses.
There are also schemes to assist Aboriginal and Torres Strait

Islander applicants.
123
Accounting
find out Check out the Good Universities Guides for full fees for Australian and
more international students for every Australian university.
www.uac.edu.au The UAC website provides detailed information about the different
www.thegoodguides.com.au options for university admissions, participating universities in New
South Wales and ACT, the courses that can be done, and information on
overseas applications.
124
Appendix 5
Sample graduate job advertisements
Graduate Opportunities
n Top-tier organisation
n Excellent career opportunities
n CBD location
n Multiple graduate opportunities
Our client, a top-tier investment bank, is currently recruiting
a number of graduate roles within various divisions. This
is an excellent opportunity to join this internationally-
renowned organisation. You must have a keen interest in
financial services.
The ideal person would have:
n Degree qualified with Accounting major

n Ambition to pursue an accounting career within
financial services
n Good communication/analytical skills
n Ability to work well in a team
n Reliable/Proactive
n Self Motivated
n Ability to work under pressure
To submit your application, in strict confidence,

please apply on line or send your application direct to:
job@accountingfirm.com.au or call on 8200 3000
125
Accounting
Graduate Accountant
Location: Sydney, NSW Australia
Date Posted: August 2005
Job Type: Full Time
Job Description: We are Australia’s only single supplier
of fluid power and fluid connector products. We currently
require a Graduate Accountant with a minimum of two
years experience in an accounting environment at our
North Sydney facility.
This position will be working as part of our Accounting
team ensuring all internal/ external reporting requirements
are met. Candidates who have a Bachelor of Business
Degree, Advanced Excel & PC skills, who possess
a strong work ethic, good communication skills who
have an eye for detail, can meet deadlines & have
internal/external audit experience can look forward to a
challenging career with a progressive company.
We offer a Smoke Free Workplace and Equality in
Employment Opportunity.
Contact: GROUP HUMAN RESOURCES MANAGER
Sydney, NSW Australia
GRADUATE ACCOUNTANT
Job Type: Full Time
Job Description: $38,000 Package – Market Leader
Western Sydney Location
Our client is a market leader in the retail industry with a number of house
hold brand names. An exciting opportunity has arisen for a recent
accounting or finance graduate, to join their team.
Working in a dynamic team and reporting to the Financial Controller, your
duties will include:
• Producing monthly management reports
• Reconciling the general ledger
• Maintaining and reconciling fixed assets register
• Investigating any variances between budgets and actual results
• Assisting the Financial Controller with any ad hoc projects.
This role is tailor made for a highly motivated and enthusiastic graduate who
wants career progression, and who has a real passion for finance! Whilst
training is provided, initiative and a willingness to work hard will see you
succeed in their fast paced environment.
You will be a team player, have excellent communication skills and will enjoy
liaising with all levels of management.
Previous experience in a similar role and CA/CPA qualifications will be highly
regarded. Car essential.
126
Appendix 6
More sample job advertisements
TAX ACCOUNTANT
Financial Services
Job Type: Full Time
Job Description: Major Australian Financial
Services Organisation
Fantastic Opportunity
– Up to 85K + Super + Bonus
Due to expansion, this large Australian Financial Services
Institution has an opportunity to join their Tax team as a Tax
Accountant. In this role, you will gather data and requirements,
using tax knowledge, to capture understanding of business
processes, client needs, and translate into IT and new process
requirements. You will produce process maps, to document
as-is processes, and manipulate these into new processes.
Contributing to the preparation of business cases, you will
incorporate cost benefit analysis and document risk.
To be successful in this role, you will have experience in Taxation
within a Life Insurance company, and come from a strong
accounting background. With your CA/CPA qualification, your
application will be looked upon favourably if you are coming from
a Big 4 chartered firm background. You will be knowledgeable
in Investment Tax Accounting, allocations to products, and IFRS
within Life Insurance companies.
To apply for this opportunity, email your resume to

sydney@accth.com.au.
127
Accounting
AUDITOR
Job Type: Contract
Job Description: Are you an experienced Internal Auditor?
Like the flexibility of contracting? After great hourly rates and
flexible working conditions? If you have experience in internal
audit and/or risk assessment/process & systems analysis then
we would like to hear from you. The Government, Education
and NFP Consultants at Hudson currently have a number of
exciting and varied audit project roles to fill.
Experience in these sectors is not necessary; commercial acumen
and proven ability to add value is. These projects feature:
• Flexible and reasonable working week Great hourly rates
• Large organisation exposure and varied project involvement
• Interesting process and systems improvements
• CBD location, as well as North and East
We are actively looking for Internal and External Auditors and
Business Analysts for our clients. Our dedicated team of
consultants specialise in this secure but ever evolving sector
and can assist you in landing your next contract.
INTERNAL AUDITOR
Job Type: Full Time
Job Description:
Inspiring Mentor Top ASX listed organisation
Varied and autonomous role
As a result of recent acquisitions and dynamic expansion, our client, a globally

recognised leader in its field, is currently seeking an experienced auditor to join
the Business Review and Audit team based in their head office in Sydney.
Working alongside a team of qualified business review analysts and auditors,

you will liaise closely with various segments of the business to achieve agreed
project outcomes through the development and execution of audit plans. You
will focus on providing a cross-divisional consulting service to enhance business
processes throughout the organisation.
Degree qualified, you will have between 2 and 4 years audit experience within
a chartered or commerce environment and looking to study or already studying
your CA/CPA. With excellent interpersonal and communication skills you will be
results orientated and able to work autonomously, planning your time well to
achieve agreed outcomes. To apply please email your resume to
john.smith@accountingfirm.com
128
Tax Accountant
Job Type: Full Time
Job Description: Fiancial Services Icon Group wide
exposure, outstanding career development scope
One of Australia’s top ten listed entities, our client is not only
large, they are also respected by their peers and viewed as
am employer of choice with an enviable culture. As a result
of continued growth a new role has been created for a Tax
Accountant to join their group services team.
Your new role will have a wide range of responsibilities
including; GST and BAS preparation, FBT analysis and
reporting, General accounting, Income tax accounting and
preparation, IFRS project initiatives, systems development
and other ad hoc project responsibilities.
To be considered for this role it is essential that you are
degree qualified in finance /accounting and probably
nearing completion or recently qualified as a CA or CPA.
You can manage your time effectively and communicate
with all levels of staff as well as display initiative. You will have
exposure to general accounting an tax which will have been
gained in either financial services, chartered accounting or in
the group finance area of a top 50 listed entity. Enjoy variety,
ownership and the opportunity to develop your career that
you deserve.
129
Accounting
Appendix 7
Sample UK job advertisements, 2005
SENIOR TAX ADVISOR

Aberdeen, Scotland
Permanent £45 000 – £70 000
You will be the Senior Tax Advisor for a UK oil
exploration and production company.
You will be:
• working in multi-disciplinary teams
• advising on the tax implications of new
projects and transactions
• involved from inception through to completion
of projects
• giving commercially-focussed advice to add
value and enable the business to achieve
its goals.
• contributing to financial tax reporting activities
in a supervisory role
You will be ambitious and posses excellent
commercial acumen. As you will be working in
multi-discipline teams, your communication skills
will need to be first class – as will your ability to think
commercially and deliver results. The ideal candidate
will have experience of the tax aspects of financial
reporting and have accounting qualifications.
130
FINANCIAL CONTROLLER
Location: London
Job Type: Permanent
Excellent Salary, £40K – £50K
The company requires a financial controller who can take responsibility for:
• establishing key accounting systems, processes and controls and their
future maintenance
• taking ownership for establishing a common financial operating system
across the Group
• initiating and automating a budgeting and reporting process
• preparation of detailed monthly management information including
performance feedback to the individual pharmacies
• reviewing, analysing and presenting financial information to the Board,
including making recommendations regarding the performance the
Group’s businesses
• liaising between the Board and the growing number of individual retail
pharmacy units
Although the role is based in Richmond, the successful candidate will be
expected to liaise closely with the individual business units across the UK.
The successful candidate is likely to be a qualified accountant with at
least three years experience in a commercial environment. You will have
exceptional organisation skills and will report to the Board of Directors.
This role will only suit someone who has the technical grounding in order to set
up the accounting function but also the commercial acumen to be a key player
in driving the business forward.
Head of Internal Audit

Central London – public sector
Permanent, £40 000
Your role is to lead the strategic development of the internal
audit function at a public utility across its 15 programmes.
You will:
• be a qualified accountant with at least three years post
qualification experience
• possess the interpersonal and communication skills
required to form good working relationships
• of graduate calibre with the drive and energy to
succeed in a fast moving ambitious business
• be reporting to the Chief Executive.
131
Accounting
Appendix 8
Sample résumé: graduate recruitment
1
Résumé
Mary Smith
117 River Street
Homesville 2222 NSW
(H) 612 8847 8459
(M) 0410 123 456
Email:
SUMMARY OF QUALIFICATIONS
I have listed my work experience, education, and interests below.
WORK EXPERIENCE
January, 2005 – Present: Accountant (Settlements), Name of Major Bank
Responsibilities include:
– basic accounting functions for classified transactions involving stock shares
and government bond trading
– finalising the day’s balance and preparing and printing management reports
– investigating and reconciling discrepancies when they occur.
Summer, 2003 – 2004: Customer service officer, Big Insurance Ltd
Responsibilities included:
– providing information on various insurance products to customers
– follow-up calls to help with any further queries and generate sales
– maintain time sheets and customer satisfaction questionnaires.
March – September 2002: Pizza delivery person, Homesville Pizzeria
2000 – 2001: Grocery clerk, Food Fresh Supermarket
EDUCATION
2002 – 2004: Bachelor of Commerce (Accounting major), University of Sydney.
2001: Higher School Certificate, Homesville High. TER: 415.
INTERESTS
I am an active member of the local Water Polo team which I joined in 1999 and was
vice-captain in our premiership team in 2003. I also enjoy other sports such as
netball and tennis.
I am an avid reader and enjoy learning French in my spare time.
I also help with fund raising activities and the outdoor work of my local Bush
Regeneration Society.
Active member of the local Stock Picking Club
REFERENCES
Available upon request.
132
Appendix 9
Another sample résumé
26 Avenue Street
Smithsfueld ACT 2067
Phone: 6666 6666

Email:Andrews27@hotmail.com.au
Adam Andrews
Education Bachelor of Business (Accounting)
University of Western Sydney
Relevant
Course Work Statistics for Business
Accounting Reports and Decisions
Introduction to Business Law
Macroeconomics
Financial Accounting Applications
Management Accounting Fundamentals
Marketing Principles
Corporate Accounting Systems
Corporate Financial Management
Auditing Principles
Autumn session
Contemporary Management Accounting
Work Experience Junior accountant

Regional Development Company, Bathurst
September 2004 – present
• Reviewed and corrected accounting entries, assisted with financial

planning input and analysis, and generated reports. Accounting
corrections revealed nearly $50 000 in unpaid bills and mislaid funds.
• Handled collections on more than 500 past due accounts; reconciled

payment discrepancies; resolved client billing and eligibility issues.
Accounting trainee
Regional Development Company, Bathurst
May 2003 – August 2004
• Worked under the guidance of managers across the different

business units (six months each unit)
Computer Skills Computer literate in word, spreadsheet, presentation and internet

applications
Referees Available on request.
133
Accounting
Analysis of Adam’s résumé

Personal information
Adam includes permanent contact information. If he has a mobile
telephone number, he should include this as well.
Education
Adam leads with his education, his degree, the university and
subjects that he undertook
By including courses he’s taken in his field, Adam highlights his

skills and increases the chances that a scanning system will pick up
on a specific area sought by an employer.
Work experience
Adam has listed the positions after earning his associate degree. He
indicates the type of work he has done. He could be more explicit
about the work in his trainee position.
Computer Skills
What else could be included?
Adam doesn’t include any personal interests, accountancy

memberships, or leadership positions.
134
Appendix 10
Sample cover letter: graduate recruitment
1
Mary Smith
117 River Street
Homesville 2222 NSW
(H) 612 8847 8459
(M) 0410 123 456
[email address if you have one]
Date: [xx Month Year]
Name of person
Company
Address
City State Postcode
Dear [Real name of person receiving letter if possible],

I would like you to consider me for the role of graduate accountant with the ‘top tier
merchant bank’ as advertised on the employment.com web site on [date of
advertisement]. I completed my Commerce degree with an accounting major last
year and am excited by the prospect of using this knowledge, and my natural
passion for financial markets, to become a motivated member of your client’s team.
For the last six months I have been working in the settlements section of a major
trading bank. In this role I have had to settle and balance the days trading
accounts over a variety of financial instruments, including government bonds and
share market trades. All ledgers must be balanced by the end of the each day
which requires attention both to detail and deadlines. I work unsupervised but
within a team environment.
Working under pressure with a motivated team within the financial markets is very
satisfying. The financial markets have always interested me since I first played the
School StockMarket Game in Year 10, a competition in which my team finished in
the NSW top twenty.
Besides my accounting major, my commerce degree included several subjects
related to the financial markets including: pricing financial products, corporate
governance and financial accounting systems.
With my successful work experience and academic qualification (credit average), I
believe I can be a valuable addition to your client’s company. I enclose my resume
for your attention and hope that if you have any questions that require clarification
you will not hesitate to contact me at the above telephone numbers.
I should like to meet with you personally to discuss this further and will contact you
within the next week to arrange a meeting that is convenient for you.
Yours sincerely
Mary Bloggs
Click here for more industry-specific sample

resumes and cover letters from Career FAQs 135
Accounting
Appendix 11
Professional recruiter’s verdict
From Sharmini Thomas, Michael Page Finance
An application is your one opportunity to impress so you have to take

time to get it right.
A cover letter should relate directly to the job advertised. You should
mention specifically how you are suited to the job advertised through
your education, experience and personality. Standardised responses
are not good enough, each application must be adapted for each job.
Otherwise it shows an immediate lack of attention to detail.
Explain why the industry, company or role advertised caught your interest.
Seek to demonstrate why you should be considered for the role and try
to prove that you should be interviewed. Be direct but not too pushy.
It is also important to think about formatting for the cover letter and
résumé. A basic, easy-to read-résumé is better than too much.
Your personal details and information must be included. This includes

details on your education and your work experience. Also list the
companies you have worked for in bold. Be sure to include a description
of the company and your actual job title.
Also list three to five responsibilities that you had at each job. Also
include a section on achievements and how you were able to contribute to
the company. Give examples. If, for example, you streamlined a reporting
process, explain how this was done and how much time it saved.
Provide evidence of real world experience, not fluff. Include all roles no
matter how small.
If you have done well with your education then show that off. In finance
banks often ask for results. If you have one or two fails that is not really
an issue
You must list all your contact details accurately including: home and
mobile phone numbers and your email address.
Two pages is generally enough for graduates.
136
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1. Accounting – Vocational guidance – New South Wales. 2. Accounting – Vocational

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Career FAQs acknowledges the following copyright owners for permission to

No matter the size or type of business, a keen awareness and careful

As a director I now work with boards and management on a range

I know how hard it can be for young people to decide on a career

The big picture

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Each book profiles real people doing n real experiences

Career FAQs was conceived in 2004 as a result of my own quest

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That you all gave so willingly and provided such compelling

An asterisk (*) next to a person’s name indicates the name has

Career FAQs book are divided into three main sections.

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find out gives you directions to find out more about a

provides additional information or an interesting

provides a brief definition of a term that appears in

are jobs in the industry or profession that, at the

in is a short profile of a specific job, with

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myweek is a day-by-day overview of the typical work-

jobs that have an unconventional, interesting

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highlight some of the issues associated with a

All organisations, at some stage, have a need for the services of a

They occupy diverse roles in all sectors of the economy including:

n government at all levels

n private companies both large and small

Today’s accountants do anything from taxation, audit, overseeing

Want more quality career resources

Accounting is an extremely professional environment that offers

What do accountants do?

Accountants may perform the following tasks:

n formulate budgetary and accounting policies

n prepare financial statements

n present financial reviews to clients, boards of directors, management,

n conduct financial investigations

n ensure compliance with statutory requirements

n manage insolvency and taxation matters

n liaise with bankers and financial brokers to establish funds

Personal attributes that accountants require in their work include:

n good analytical and problem-solving skills

n good organisational skills

n ability to work in an ethical and professional manner

n discretion when dealing with confidential information

n good communication skills

n ability to develop and maintain a good rapport with clients and

These tasks can be done in a number of different jobs depending on the

Accountants have to fully understand the fundamentals of the business

An accountant’s role is increasingly about finding the best financial and

Currently there is a changing attitude about accountants from

Accounting as a profession is continually evolving with much of

What’s happening right now?

n formulate budgetary and accounting policies

n prepare financial statements

n present financial reviews to clients, boards of directors, management,

n conduct financial investigations

n ensure compliance with statutory requirements

n manage insolvency and taxation matters

n liaise with bankers and financial brokers to establish funds

n good analytical and problem-solving skills

n good organisational skills

n ability to work in an ethical and professional manner

n discretion when dealing with confidential information

n good communication skills

n ability to develop and maintain a good rapport with clients and

n all levels of ‘accounts payable’ and ‘accounts receivable’ staff.

n working as a business analyst http://jobsearch.gov.au

n travelling overseas to find work. www.hays.com.au

The image of accountants as figures-obsessed number-crunchers is – means to read or study

n discounts on industry publications and textbooks as well a subscription

n access to the CPA Australia website (including 7500 member-only

n attendance at graduate recruitment evenings where they have access