Becoming an accountant in Tauranga can seem like a monumental task. Not only do you need to make it through university, but you have to apply to and study courses run by professional accounting agencies to be recognised as a trained professional in your field. Organisations such as Chartered Accountants Australia and New Zealand (CA ANZ) have a series of skills and knowledge that they expect their applicants and aspiring accountants to be competent in.
Knowing ahead of time what skills you should focus on honing could come in handy when you’re applying to an organisation and can help you start your accounting career on the right foot.
What Does an Accountant in Tauranga Do?
Accountants are responsible for providing accounting services for individuals and organisations. They will prepare financial statements and forms for the business while also giving advice to the business on its finances and spending.
An accountant in Tauranga usually works by regular business hours but may work evenings or weekends depending on deadlines. They often work in offices or remotely from home, but there is also the chance that they may travel to visit and meet with clients.
As an aspiring accountant, some of the responsibilities which you will undertake will include:
- Preparing financial statements and reports for clients or company management
- Recording money spent and received daily by clients
- Developing forecasting and checking client budgets
- Preparing GST and other returns, such as surveys, pay-as-you-earn (PAYE), and tax forms.
- Giving advice on the financial aspect of businesses
- Reviewing accounting procedures and analysing the financial performances of a business
- Assisting management with strategic planning and human resources.
Skills and Knowledge
Becoming an accountant isn’t just a matter of learning to do accounts and going from there. There are many skills that an aspiring accountant must have and a large base of knowledge that they must possess.
To begin with, capable accountants should have:
- Knowledge of finance, economics and marketing
- Knowledge of business management practices, including business ethics
- Skills in accounting software, such as XERO, MYOB, iFirm or SAP
- Skill in accounting and mathematics.
In addition to these basic skills, CA ANZ requires that applicants to their Chartered Accountants Program possess knowledge about:
- Accounting systems and processes
- Financial accounting and reporting
- Auditing and assurance
- Business law
- Finance and Finance Management
- Management Accounting
- Quantitative Methods
- Information and Communication Technology
- Business Acumen (required from 2022 onwards)
Helpful Courses to Consider for an Aspiring Accountant in Tauranga
Since an accounting job requires a few more skills and a bit more knowledge than simple accounting alone, it is essential that you are catering your study to ensure nothing is forgotten. Not all of the required or recommended courses will necessarily be a part of your study by default. This means that some proactive course selection may be necessary to ensure you are ready when you are looking to train with an accounting agency in future.
Taking some papers surrounding economics and finance could be worthwhile. These subjects are siblings in some ways to accounting, as they focus on the financial side of a business. Many university accounting degrees will not include these papers in their courses beyond fundamentals in their first year. This means that it could be necessary to select papers in these areas as electives.
Taking some management papers will also be necessary for aspiring accountants in Tauranga. As knowledge of business practices and how management systems work will be beneficial information for an accountant. If you engage in management accounting as an accountant, you will be working closely with managers and making reports on organisational financial needs. Management knowledge will benefit you and make your life easier and more trustworthy.
While these courses are helpful to take in advance, if it turns out that you missed something or are not so confident in an area you are expected to be in, there are still options for you. Professional organisations such as CPA Australia and CA ANZ require courses of study before you can apply as a full accountant.
They often will have measures in place to ensure that applicants can gain the knowledge they require to succeed. CPA Australia, for example, offers a foundation exam for applicants who may not quite possess all of the skills or knowledge to join their CPA Program officially. This will allow you to study still and gain those skills before you begin your organisational study.
Accounting is a complicated subject requiring knowledge and expertise in several areas. Just focusing on accounting is not enough to immediately take off. But by considering all aspects of a business and applying your accounting knowledge to other disciplines, you can ensure that you have all the knowledge you need to work as an effective, competent and trustworthy accountant. Talk to us at Auctus in Tauranga to learn more.