HI6025 Accounting Theory Assignment Help
Collect as many job advertisements as possible on the position of ‘corporate accountant', ‘corporate and management accountant' ‘senior accountant', ‘tax accountant', ‘corporate financial accountant' ‘corporate financial and management accountant', ‘accountant corporate finance', ‘senior financial accountant' ‘senior accountant: tax and corporate reporting' or any other similar positions published by Australian employers in electronic or print media or in job search portals (such as seek, Jora, Indeed etc.) from the first week of the Trimester to the week 7 of the Trimester.
Based on your collected advertisements, do the following tasks:
1. How many job advertisements you have collected in total? How many job advertisements you have collected from each sources.
2. Lists the name of the organisations posting the job advertisements and show the industry breakdown of the organisations posting the job advertisements.
3. List all the job titles mentioned in the advertisements that you have collected.
4. List all the personal attributes required from a corporate accountant that have been mentioned in the job advertisements that you have collected.
5. List all the personal attributes required from a corporate accountant that have been mentioned in the job advertisements that you have collected with your detailed understanding of each of the attributes.
6. List all the academic and professional qualifications of a corporate accountant that have been listed in the advertisements that you have collected.
7. Based on the key roles, tasks, responsibilities identified from your collected job advertisements, how those key roles, tasks or responsibilities are related to the topics that you have learned in your MPA unit HI5020 Corporate Accounting.
8. What additional topics, attributes or learnings outcomes are missing from your MPA unit HI5020 Corporate Accounting that are listed on the job advertisement.
9. Critically examine the skills, experience and attributes needed to become a corporate accountant. Also critically evaluate how the topics that you have learned in your MPA unit HI5020 Corporate Accounting have helped you in gaining the skills, experience and attributes needed to become a corporate accountant.
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Introduction
Corporate accountants are accounting professionals who help business organisations to carry out a proper accounting of their transactions and financial records. Along with ensuring that organisations record all their transactions and operations in a proper manner, a corporate accountant also makes sure that all operations of the business are in compliance with legal regulations and standardised rules of operations. In this study, the qualifications required for corporate accountants and the various different roles and responsibilities expected to be fulfilled by them have been analysed. This has been done with the help of multiple different job advertisements for corporate accountants, helping to paint a true and realistic picture regarding the qualities that companies require when hiring corporate accountants.
1. Job advertisements collected from each source
2. Name of organisations that posted job advertisements and industry breakdown of the organisations
3. Job titles mentioned in job advertisements
4. Personal attributes required from corporate accountants as mentioned in job advertisements collected
Corporate Accountant
According to the job advertisements, corporate accountants are required to:
- Have a degree or diploma in either accounting, finance or business administration.
- Be members of either The Institute of Chartered Accountants in Australia or the Australian Society of Certified Practicing Accountants.
- Have prior experience working in the finance department of another organisation.
- Be proficient in compiling, organising and analysing financial data.
- Be efficient in statutory financial reporting, including tax accounting and financial statement preparation.
Senior Accountant
- Have obtained a degree in Accounting during higher studies.
- Either have already completed their CA or CPA certification or must be close to completion of the same.
- Is required to have professional working experience in the same field for preferably more than 5 years.
- Possess prior experience with regard to consulting other businesses with their accounting requirements.
Senior Financial Accountant
- Is required to have at least a bachelor’s degree in Accounting.
- Is required to be a CA or CPA qualified with over five years of experience working as a professional in the field.
- Must have experience with corporate accounting, especially in the finance accounting role.
- Is required to be highly skilled in making use of computer applications like Oracle and Advanced Excel
Assistant Accountant
- Possess a degree in accounting from a reputed institution
- Have at least two years worth of experience working as a professional in the finance or accounting role
- Is required to be highly professional with regard to communicating with stakeholders and conveying the accounting requirements
- Is required to be able to work well in a team and assist the senior financial accountants in the organisation in an adequate and professional manner
Junior Financial Accountant
- Is required to be able to work under huge work pressure
- Must have prior experience working as a financial accountant in a similar industry to ensure that they are familiar with their role
- Extremely strong and effective in communicating with others
- Must have a strong sense of responsibility towards organisation and colleagues
Senior Corporate Reporting Accountant
- Prior knowledge and experience regarding auditing is preferred
- Is required to have adequate knowledge regarding financial concepts like corporate tax returns and GST/BAS returns
- Must be proficient in preparing consolidated financial statements for stakeholders.
- Is required to have extremely strong analytical and communication skills, oral as well as written
- Must have prior knowledge and experience regarding the calculation of accounting details
Financial Accountant
- Is required to have at least five years of experience in order to be considered proficient and capable regarding the task.
- Must have proper and adequate accounting experience
- Is required to be able to grasp the details and intricacies of new skills and knowledge at a fast pace
- Is required to be comfortable with working with computerised accounting and computing systems
Associate - Corporate Clients
- The applicant is required to have excellent qualities with regard to the way clients are provided with the necessary services
- Is required to have adequate proficiency in multitasking
- Must pay strong attention to small details regarding clients and stakeholders, leading to better service
- Is required to have an educational qualification in either law, business or economics
Fund Accountant
- The applicants for this position are required to have excellent skills and knowledge with regard to the workings of computer applications like Microsoft Excel
- Is required to be highly motivated
- Must have outstanding communication skills, with superiors, colleagues as well as with stakeholders
- Is required to be able to work perfectly within deadlines and sort tasks in accordance with priorities set by the organisation
Tax Accountant
- Individuals suitable for this position are required to have at least six years worth of experience to consider them adequately qualified
- Is required to have vast knowledge with regard to tax accounting and technical knowledge regarding tax
- Must be a strong and dedicated team player
- Is required to be able to maintain professional relationships, both within and outside of the organisation environment
5. Personnel attributes required and detailed understanding of each attribute
Corporate Accountant
Corporate accountants are accounting professionals who are responsible for making sure that the organisation they are responsible for is conducting business in a responsible manner. As stipulated by Ellis (2018), this implies that corporate accountants are required to be highly professional with regard to the tasks carried out by them. They are also required to be extremely deft and meticulous in carrying out tasks of accounting and auditing.
Senior Accountant
Senior accountants are required to be highly knowledgeable and skilled with regard to accounting functions (Durocher et al. 2016). Such individuals are responsible for overlooking the entire accounting functions and responsibilities of the organisation they are employed with. As a result, it is necessary that they have completed their CA/CPA qualification and are further required to have a minimum experience of five years.
Senior Financial Accountant
In addition to the basic requirements in a senior accountant, a senior financial accountant is further required to have mastered the various computerised accounting systems like Microsoft Excel.
Assistant Accountant
The main requirement for an assistant accountant is to ensure that they are able to work properly in teams. This is due to the fact that as stated by Tan (2016), the main task of accountants is to provide assistance to the senior accountants.
Junior Financial Accountant
A junior financial accountant is required to be able to work under immense workload, while also being able to work efficiently within a team. According to Chong and Monroe (2015), junior financial accountants are also required to ensure that they can communicate effectively, with their superiors as well as with stakeholders.
Senior Corporate Reporting Accountant
A senior corporate reporting accountant is required to have prior knowledge in auditing and is also required to have adequate knowledge with regard to financial concepts like corporate tax returns and GST/BAS returns.
Financial Accountant
A financial accountant is required to have a minimum experience of working as an accountant in order to qualify as financial accountants in renowned organisations and MNCs. As opined by Deming and Kahn (2018), individuals in this position are also required to possess degrees in either accounting, finance or business administration for assured competency.
Fund Accountant
A fund accountant is an individual who is responsible for managing mutual funds of individuals rather than of an entire organisation. As specified by Lombard (2016), this implies that fund accountants are required to be highly social and be able to communicate properly with customers and stakeholders.
Tax Accountant
According to Dunbar et al. (2016), a tax accountant is an individual who is responsible for assisting clients, like individuals and organisations, with their taxation requirements and computation of yearly income tax and other financial taxes.
6. Academic and professional qualifications of corporate accountants mentioned in the job advertisements
Corporate Accountant
- Must possess a bachelor's degree in accounting or finance
- Preference would be given to person having Certified Public Accountant credential
Senior Accountant
- Must possess a bachelor’s degree in accounting
- Preference would be given to individuals who have a master’s degree in accounting and to Certified Public Accountants
Senior Financial Accountant
- Mandatory to possess a bachelor’s degree in finance, accounting, economics or business administration
- Preference would be given to individuals who have experience of over 5 years
Assistant Accountant
- Necessary to possess a bachelor’s degree in finance or accounting
- Individuals who have an Accounting Technician Qualification (AAT) can also apply.
Corporate Tax Accountant
- Mandatory to possess a bachelor’s degree in accounting or business administration
- Must possess a certificate from Certified Practising Accountants (CPA) or become a member of a reputed accounting institution
Junior Financial Accountant
- Must possess a bachelor’s degree in accounting or business administration majoring in accounting
Senior Corporate Reporting Accountant
- Bachelor's degree in financial reporting
- Master’s degree in financial reporting
- Masters in Business Administration
- Professional experience of 2-5 years as junior corporate reporting accountant
Financial Accountant
- Graduate diploma in chartered accounting or a certificate in CPA program
- Bachelor’s degree in accounting or business accounting
- Professional experience of 1-3 years is preferred
Fund Accountant
- Bachelor’s degree in accounting or finance
- CPA designation is preferred
- 1-3 years of experience is usually required
- Skills in accounting, organisation and accounting software such as Genea, Quickbooks and Microsoft is required
Tax Accountant
- Certificate in Public Accountants (CPA)
- Bachelor's degree in accounting or finance is preferred
- Completion of Licensing requirements
Accountant
- Diploma in accounting is a must
- Bachelor's degree in accounting or finance is preferred
Assistant Corporate Accountant
- A minimum of GSCEs including English and maths is required
- Bachelor's degree in accounting
7. Key roles, tasks, responsibilities of corporate accountants
Drafting, recording, reviewing and finalising of the financial reports
In The case of corporate accountants it must be understood that there is an importance of focussing on the activities of recording and reviewing the financial reports that have been received. This function helps a company in order to effectively analyse its finances and also helps in increasing the overall efficiency of a company. As per the views of West (2018), in the case of corporate management accountants the recording of data and drafting of reports is essential as it helps the organisation in order to effectively develop its functions. This also aids to long term advantages in the market.
To ensure effective control over financial and accounting systems
A corporate accountant is responsible primarily for ensuring control over the financial and accounting systems of a company. As per the views of Otley (2016), control over financial systems and records are extremely important as they help an organization in order to effectively keep a check on its processes. The control over the finances and accounting also helps thee corporate accountants in reviewing the progress of the organisation and aids to understanding the loopholes in the process. Mitigation systems are employed in order to effectively ensure that loopholes are bottlenecked efficiently.
To ensure appropriate management of financial and accounting systems
Maintenance of effective systems is another major function of corporate accountants as these aids to ensuring a proper flow of organisational processes. From the study of Mohelska and Sokolova (2015), organisational processes need to be effectively kept running in order to ensure that the hindrances to business are mitigated as much as possible,. The role of management accountants in this case is a key role which ensures the stability of the processes of a company. Maintenance of efficiency systems of finance and accounting helps a company in order to gain an extensive market leverage and appropriately allocate its funds into area where it is needed the most.
To ensure accounting compliance to organisational goals
In the light of the organisational goals it can be understood that there is a requirement of process compliance which is required to achieve it. A major role of the corporate accountants is to effectively and efficiently ensure that there is appropriate compliance of the standard accounting systems to the organisational goals. This helps an organization in order to effectively and efficiently ensures that the systems of the organization are integrated. As per the views of Oyemomiet al. (2016), integration of the processes of a company ensures productivity rates which are higher and more efficient processes. This increases the competitive advantage of a company alongside its sustainability.
To ensure appropriate communication channel maintenance with stakeholders in case of fund accounting
In the case of fund accounting it can be viewed that the maintenance of a communication channel is extremely important. This aids to the development of a proper basis of relationship with the stakeholders of the organisation and allows for effective systems of relationship management to be put into placed. It can also be understood that appropriate communication allows an organization in order to create appropriate customer engagement and this helps in business development. Fund Accountants are responsible for these activities in order to ensure the increase in market share of a business. As per the views of De Loecker and Eeckhout (2017), an increase in the market share of a business helps in ensuring appropriate channels of acquiring revenue and this increases the efficiency of a company. This also aids in developing market goodwill.
8. Additional topics and attributes required in corporate accountants as mentioned in job advertisements
In the case of the corporate accountants it must be understood that a primary additional skill which is required is that of technological knowledge. Corporate accountants must be up to date with the latest technological trends of the market in order to effectively ensure that they can apply this to the context of their work. As per the views of Zhou (2017), application of technology to existing work parameters increases the efficiency of the technology and also allows for higher operational productivity. This helps an organization effectively gain a market advantage.
Another major requirement in the case of the accountants is the requirement of communication skills in the context of the business. Adnan et al. (2017), states that communication skills are important as they allow an individual to communicate necessary information throughout the ranks of an organisation. The transcendence and transfer of information through the organisation helps in enhancing control and also adds efficiency to the princesses of the organisation further. This helps the organisations in order to increase their productivity by a decent rate and also allows them to become more efficient.
9. Critical examination of skills, experiences and attributes required to become a corporate accountant
In the case of the organisations it can be understood that the skills which are reviewed in the case of the corporate accountants are appropriate in nature. It can be understood that a basic knowledge of accounting and the processes are requisite skills of an accountant in order to effectively ensure that they can carry out the activities of management effectively.
Another major skill which is required in accountants is the skill of management which effectively aids them in order to appropriately ensure that there is appropriate process efficiency. The skill of management helps accountants in the context of companies to effectively ensure process compliance and appropriate undertaking of processes.
The skill of communication can be viewed as another major skill which is required by the accountants in order to ensure that the results of the finance and accounting procedures are effectively communicated. This helps the accountants in order to effectively and efficiently aid to theories of organizational decision making.
The educational requirements of the accountants can also be understood to be appropriate as there is a requirement of a basic graduation in B.com or accountancy and further for senior levels there is the requisite of the completion of a higher level course or a M.com in order to handle financial job roles.
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