The urgent demand for accounting professionals in Australia has opened up multiple rewarding career opportunities within the industry. If you are looking to kickstart an accounting career, here are five diverse options that cater to different interests, personal skills, and career goals!
Top 5 Diverse Accounting Careers in 2024
1. Financial Analyst
Average salary: $95,000 – 115,000
A career as a financial analyst is ideal for those who enjoy data analysis and making strategic recommendations. Financial analysts analyse financial data, create financial models, evaluate investment opportunities, and provide recommendations based on market trends and economic conditions.
Financial analysts play a crucial role in helping businesses make informed investment decisions. They can work in investment banks, asset management firms, insurance companies, and corporate finance departments.
2. Auditor
Average salary: $70,000 – 90,000
Auditors are essential in ensuring the accuracy and integrity of financial records. Their duties include examining financial records, evaluating internal controls, ensuring compliance with laws and regulations, and identifying areas for improvement in financial processes. If you have strong analytic skills and an interest in laws and ethics, this is the role for you.
Auditors can work internally within organisations or as external auditors for accounting firms. Auditors can work in public accounting firms, corporations, government agencies, and non-profit organisations.
3. Management Accountant
Average salary: $95,000 – 115,000
Management accountants, also known as cost accountants, focus on internal financial processes and decision-making within an organisation. They usually work in larger organisations such as corporate finance departments, manufacturing firms, service industries, and government agencies.
Management accountants prepare budgets, conduct cost analysis, provide financial forecasts, and support strategic planning by offering insights into financial performance and efficiency. This is a position fitting for those with strong management and critical thinking skills.
4. Tax Consultant
Average salary: $85,000 – 105,000
Tax consultants specialise in tax planning and compliance, helping individuals and businesses navigate complex tax laws and minimize their tax liabilities. If you want to specialise within this financial field, becoming a tax consultant can be a rewarding job.
Tax consultants prepare tax returns, provide tax advice, represent clients in tax disputes, and develop tax strategies to optimise financial outcomes. They can work in public accounting firms, corporate tax departments, law firms, and as independent consultants.
5. Financial Accountant
Average salary: $95,000 – 110,000
Financial accountants specialise in managing financial records and ensuring accurate reporting of an organisation’s financial position. This role is ideal for individuals with strong analytical skills, attention to detail, and a solid understanding of accounting principles and financial regulations.
Financial accountants prepare financial statements, maintain the general ledger, ensure compliance with financial regulations, and assist in budgeting and forecasting. They also conduct financial analysis, coordinate audits, and develop internal controls to safeguard assets. Financial accountants can work in various settings, including corporate finance departments, public accounting firms, government agencies, and non-profit organisations.
Essential Accounting Degrees to acquire
While it is important to choose a career path that suits your personal skillset and goals, it is also essential to acquire the required qualifications.
For the majority of accounting positions, it is mandatory that you have a Bachelor of Accounting degree or Finance. The Bachelor of Accounting program at EIA provides students with a solid foundation and equips them with the essential skills to be job-ready upon completion. Our curriculum not only provides theoretical concepts (such as finance, auditing, business law and taxation), but also how to apply that knowledge to communicate and collaborate effectively in a business setting.
If you want to progress further in an accounting career, Attaining the CPA qualification is a necessary leverage. The CPA program includes exams and practical experience requirements which facilitates the skills enrichment for accountants and accounting professionals. EIA’s CPA-accredited Bachelor of Accounting course rewards students with special advantages when participating in the CPA program. More details can be found here.
Choosing the Perfect Accounting Career for Your Skillset
Regardless of where your interest lies, you can always find an accounting career that is suitable for your skillset and facilitates your growth. We hope the 5 aspiring career options above can help you make informed decisions about pursuing a career path that aligns with your personal skills and interests.
