The Sky's the Limit
Accounting & Finance Professionals Today

Wrong career? In a job going nowhere? Need accounting knowledge to get ahead, but didn't study accounting at undergraduate level? Many Australian business faculties now offer the chance for non-accounting graduates to gain both an accounting qualification and a Masters degree in a year and a half of full-time study - or even less, if your undergraduate degree included some business or mathematical subjects.

These conversion courses, as they are known, lead to membership of the professional accounting bodies and a satisfying and rewarding career as an accountant, business analyst or finance professional. Some universities even offer the opportunity to gain a Masters degree and an accounting qualification to those without an undergraduate degree but at least three years of appropriate work experience. These Masters degrees require two years of full-time study. They are hard work - but where else could you gain a Masters degree and entry to an exciting and rewarding career without an undergraduate degree?

Accounting and finance professionals are finally losing the middle-aged, male 'beancounter' image, and being recognised for the decision support professionals and information managers that they really are. Accountants work in a wide range of positions in modern organisations. Having trained in many disciplines, such as marketing, organisational behaviour and management, business law, finance, statistics, economics, strategic planning, problem analysis, and of course various accounting streams, accounting professionals bring a wide-ranging global perspective to business management.

Accounting skills learned in Australian universities are in demand all over the world. Many graduates hold high-level positions in Australian, Asian and European countries. All students benefit from the cultural diversity evident in most universities - friendships formed during their studies may lead graduates to receive job offers from exciting international organisations in other countries.

In particular, graduates of Masters conversion programmes are highly sought as they combine practical skills with university training. Masters conversion students have usually had work experience in fields other than accounting - an asset in the eyes of employers who are seeking accounting professionals who can communicate with non-accounting personnel. Graduates from Bachelor degrees who undertake industry-based learning (also known as cooperative education) as part of their degrees are also in demand. Employers like the concept of newly qualified personnel who don't need basic training in the 'real world' - that has been taken care of during the degree studies.

What can you expect to study during a Masters conversion course? We understand that you already have broad knowledge by virtue of previous studies or work experience. So, in addition to basic, financial and management accounting, expecting accounting theory, tax, business and company law, auditing, economics, statistics, information technology, organisation behaviour and finance. Those contemplating a Bachelors degree will study these topics, and also choose electives from a range of other subjects offered from a variety of disciplines, depending on your university. Choose a university with arts subjects available, and you may find Asian or European languages, modern literature and fine arts are on the menu, together with advanced accounting subjects, advanced information technology, management and a whole range of other business and general subjects. Other universities may offer astronomy, geology or philosophy to create well-rounded accounting professionals with broad knowledge.

Masters and Bachelors degrees in accounting have a dual focus in Australia. Not only is there an emphasis on the acquisition of a broad range of technical skills, there is an increasing emphasis on developing lifelong skills such as excellent communication, the ability to continue to learn and adapt to changing circumstances, and the ability to work in teams. This leads to innovative teaching and assessment methods to develop these generic skills alongside technical accounting and finance skills. It also leads to the development of business professionals who can easily shift their organisations into new directions to fit rapidly changing environments.

Accounting is sometimes referred to as the language of business. We all speak of the 'bottom line', or 'profit' to give it the technical accounting term. Accounting is a language which opens many doors to interesting and well-paid jobs in a variety of fields. Study accounting at either Masters or Bachelors level, and find yourself a career which has no boundaries.

Author
Associate Professor Louise Kloot
School of Accounting & Finance
Victoria University of Technology

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