The top 10 benefits of studying accounting

Have you ever considered following a career in accounting?

A career in accounting could open many different doors for you. Qualified accounting and financial professionals are in high demand in Australia. And with new advancements in technology continuously pushing the industry forward, this gives ambitious professionals plenty of opportunities for growth and career expansion.

When it comes to your future career trajectory, there are plenty of reasons why you should study a course in accounting. Read on to find out our top ten reasons why.

Think again about what you’ve heard about accounting and finance.

What are the top benefits of studying an accounting course?

There are plenty of reasons to study an accounting course and follow a career as an Accountant. Here are the top ten.

1. Learning accounting can be a great basis for almost any career path

An accounting qualification is always valuable. You could use an accounting qualification as the foundation for a future career in finance or economics. Or if you eventually switched careers entirely, you’d still possess a range of skills and knowledge many employers would find valuable. Holding an accredited qualification shows employers that you’re good with numbers, you can manage meticulous record-keeping and reporting and that you’re familiar with budgets and financial forecasting. No matter what type of role you’re in, these are all good traits and skills to have. You don’t even need to be a maths genius to be a great Accountant.

2. Accountants earn an above-average wage

According to the federal government’s Job Outlook website, Accountants earn around $1,660 per week, which is $200 higher than the national average. Of course, when you first enter the industry, you can expect your pay to be a little lower than this. But with time and experience, your earning potential will increase.

3. There are plenty of different roles out there available

There are more jobs for Accountants and Bookkeepers than you might first realise. For example, you could start your career as an Accounts Payable or Receivable Clerk but then move into tax accounting or financial planning. You could even become a Forensic Accountant and work with law enforcement to detect crimes like fraud and embezzlement.

4. Every industry in Australia relies on the accounting and finance sector

No matter what the industry, all companies rely on the accounting sector to manage their finances. This means that with an accounting or bookkeeping qualification, you could find yourself working across a multitude of different types of businesses.  

5. It’s an expanding industry with room for growth

Working in financial services, you’ll be joining a workforce of more than 800,000 professionals, which continues to grow. This means that there are plenty of career opportunities out there for professionals with the right skills and knowledge in this reliable and stable industry. If you have your eye on the top job and want to progress up the ladder throughout your career, studying an accounting course could be a great place to start. With training, hard work and effort, you could one day aim to become a Finance Director or Chief Financial Officer.

6. There’s high demand for accounting professionals in Australia

Demand continues to increase for accounting and bookkeeping professionals. According to Job Outlook, around 14,400 accounting jobs were created across Australia between 2014-2019. The demand for accounting and financial professionals is predicted to continue to rise, even in the wake of the COVID-19 pandemic. The reason for this is due to a predicted increase in services such as business advisory services and recovery and insolvency work, according to the Australian Industry and Skills Committee.

7. You could become your own boss

Have you ever dreamed of becoming your own boss? If you study an accounting qualification, you could go on to start up your own business.

Some small businesses don’t generate enough revenue to warrant employing an Accountant or Bookkeeper full time. Instead, a much more economical solution is for them to hire an accounting professional when their advice and expertise is needed – like around tax time. This is an opportunity for self-employed accounting and bookkeeping professionals to step in and offer their services.

8. Your work could allow you to travel

There’s one language that’s spoken in every country, and that’s the language of numbers. Maths doesn’t change depending on the country. Numbers always stay the same. And there will always be demand for financial professionals at home and overseas.

Working in accounting could open up international travel opportunities for you, especially if you end up working for a global company that has multiple offices around the world.

Alternatively, a job such as an Auditor might require you to physically visit sites, which would entail local travel.

9. You can work remotely

In the same way that some accounting jobs could allow you to travel, some jobs may also allow you to work remotely.

When the COVID-19 pandemic first hit, the finance sector was one of the quickest to react. This is one industry that has always been driven by innovative new developments in technology, and the finance sector in Australia proved to be responsive and flexible when it came to adjusting to the ‘new normal’.

More and more companies in Australia are offering their employers flexible options that allow them to work from home. This can also benefit workers who may not necessarily live within commuting distance of the company but can still work from home.

10. You can study accounting online

There are so many different courses you can study online today, and accounting and finance is just one area. Many people choose to study online for different reasons. Sometimes it’s because they have other commitments that don’t allow for full-time, campus-based study, such as a full-time job, a family or both. Sometimes it’s because getting to a physical campus can be difficult. And other times, people simply prefer to study online as it offers them the flexibility to study wherever and whenever they choose.

OC offers a range of accounting courses online, including nationally recognised qualifications and non-accredited short courses.

The FNS40217 Certificate IV in Accounting and Bookkeeping is the perfect place for you to begin your career in accounting. This course has been developed by industry experts to teach you everything you need to know about getting started in the industry.

The FNS50217 Diploma of Accounting will teach you the advanced skills and knowledge you need to move up the career ladder or step up into a supervisory role. However, to study this qualification, there are pre-requisites you’ll need to have completed first.

That’s why OC has also developed the Accounting Pathway Program and the Accounting and Bookkeeping Pathway Program. These pathway programs incorporate one of the required courses you need to complete before beginning the Diploma of Accounting, making your learning journey as streamlined as possible.

You can view all of our accounting and bookkeeping courses online. Enrol in a course today with OC and find out where a career in accounting could take you!