Top reasons to study accounting (it’s more than just numbers…)

What do famous personalities like Sir Mick Jagger (The Rolling Stones), Julia Sweeney (American comedian and actress), Kenny G (saxophone extraordinaire) and Peter Falk (TV’s legendary detective Colombo) all have in common? Accounting – They either studied accounting or were professional accountants!

Studying accounting – gives you a much broader perspective than additions and subtractions. Once you have completed that bookkeeping course you can graduate to a diploma of accounting by undertaking this course and receive an accredited qualification.

Ask any student of accounting, and he/she will readily affirm that studying accounting is not just about the numbers.

Their influence in business and society in general goes much beyond ledgers, balance sheets and numbers.

As a student of accounting, you don’t necessarily need to end up working as a ‘traditional’ accountant, writing ledgers and preparing Profit & Loss Statements. Studying accounting opens the doors to a whole range of allied careers, including:

  • Finance Managers
  • Business Analysts
  • Business Managers
  • Investment Advisors
  • Risk Management Specialist

While the current workforce in accounting and related jobs is estimated at around 188,000 (as of November 2015), a 5-year projection by the Australian Government, in their Job Outlook (to November 2019) had estimated that there would be over 50,000 new job openings for accountants (and associated jobs).

A revealing report by the Australian Workforce and Productivity Agency (AWPA), titled Demand and Supply of Accountants, sheds some interesting light on why you may wish to consider studying accounting, and what prospects lay ahead for you if you do decide to pursue a career as an accountant or a related profession.

Numbers DO matter

Australia Bureau of Statistics (ABS) statistics indicate that, not only is there a healthy demand for accountants, but that the median earnings for accountants track roughly 22% higher than the benchmark “All occupations”. These numbers confirm that studying accounting does bring you the benefit of great jobs, but also pay that’s relatively better than many of Accounting’s peer disciplines.

Age doesn’t matter

Accounting students, enrolled in a certificate, diploma or professional degree program today, should be heartened by the fact that they could be absorbed into the workforce shortly upon completing the course.

ABS data shows that, while 31% of accountants are in the 25-34 year age group (compared to 22% for all other professions), studying accounting can also bring youngsters in the age group of 20-24 years into the workforce.  The need to fill the imminent void that will be left by retiring accountants (Boomers and Gen X’s) means you are more likely to position yourself to fill that void if you start your Accounting studies now!

Great employment potential

Studying accounting offers you great long-term potential for employment, whether you are an Australian student, or an overseas student studying accounting at an Australian institution. An Australian Department of Employment study indicated that:

Studying accounting opens doors to employment: Over 86% of individuals with an accounting qualification were contributing members to the labour force, compared to 82.5% of individuals with other qualifications

Leave a Reply

Your email address will not be published. Required fields are marked *