accounting (1 Viewer)

[meilz92]

I want to know all about accounting from lots of different people.

Thinking of doing an accounting major, but wont be able to do all the ICAA units because I am already doing 2 majors and not enough room in my degree. Is there any point in majoring in accounting if I wont be able to do the ICAA/CPA course afterwards? What would the salary be like with just a B Com with an accounting major (no other accreditations)? Is there any point?

Another thing I'm considering is not majoring in accounting, maybe just doing a couple of other units, and if I want to sometime down the track do the accredited Master of Professional Accounting (1.5 years at USYD) and then get my other accreditations? Do employers have a preference for an accounting Bachelor's degree or Masters?

Also what are the wages of a Chartered Accountant or CPA? Which postgrad accreditations would be better to get out of those two?

Im currently doing B Com/B Science fyi, majoring in Industrial Relations and HRM and Psychology. Undecided on third major, if any (obvs lol)

 

[Azure]

I want to know all about accounting from lots of different people.

Thinking of doing an accounting major, but wont be able to do all the ICAA units because I am already doing 2 majors and not enough room in my degree. Is there any point in majoring in accounting if I wont be able to do the ICAA/CPA course afterwards? What would the salary be like with just a B Com with an accounting major (no other accreditations)? Is there any point?

To be honest, a big part of being a fully qualified accountant is having a CA/CPA qualification. This dramatically improves your employment prospects and your earning potiential. A CA/CPA accountant will almost certainly make more than a non CA/CPA accountant. It's kind of like driving a car in third gear and never moving up.

I think you are able to complete bridging courses via CA for subjects you have not completed at university. You might want to ask Seremify as he's currently finishing off his CA and is really knowledgable in this area.

Another thing I'm considering is not majoring in accounting, maybe just doing a couple of other units, and if I want to sometime down the track do the accredited Master of Professional Accounting (1.5 years at USYD) and then get my other accreditations? Do employers have a preference for an accounting Bachelor's degree or Masters?

Accounting is a really practical profession, and employers generally have a preference for experience. If you complete your masters in accounting and attempt to seek work in the industry, you will be competing against other job applicants who would potientially have years of experience above you. I think a masters in accounting will exempt you from completing the CA Diploma subjects (however you might want to double check this).

Also what are the wages of a Chartered Accountant or CPA? Which postgrad accreditations would be better to get out of those two?
Im currently doing B Com/B Science fyi, majoring in Industrial Relations and HRM and Psychology. Undecided on third major, if any (obvs lol)

I'm not sure about the exact figures, but I know that Chartered Accountants are more highly regarded than CPAs and I'm sure their salaries would reflect this.

 

[deterministic]

Only do accounting if you actually plan on being an accountant and getting CA. Accounting degrees are needed just to gain entry into CA program.

 

[meilz92]

Accounting is a really practical profession, and employers generally have a preference for experience. If you complete your masters in accounting and attempt to seek work in the industry, you will be competing against other job applicants who would potientially have years of experience above you. I think a masters in accounting will exempt you from completing the CA Diploma subjects (however you might want to double check this).

I checked on the CA website, it says that Master of Professional Accounting (USYD) is one of many " accredited graduate conversion courses" which is, I'm assuming, for people who didnt meet requirements with their bachelor's degree.

http://www.charteredaccountants.com...ates/Accredited Courses/2011_ATC_10Mar11.ashx

 

[hungwell1337]

50-55k for a grad at big 4

 

[seremify007]

50-55k for a grad at big 4

Obviously a fresh grad vs. a CA-qualified (or CPA-qualified) professional will be significantly different; although this could also be down to just years of experience.

 

[meilz92]

Seremify pls reply to my big original post

 

[seremify007]

Thinking of doing an accounting major, but wont be able to do all the ICAA units because I am already doing 2 majors and not enough room in my degree. Is there any point in majoring in accounting if I wont be able to do the ICAA/CPA course afterwards? What would the salary be like with just a B Com with an accounting major (no other accreditations)? Is there any point?

Without doing the ICAA or CPA courses, your progression in a professional accounting career path will be significantly limited as you aren't able to opine on many things, you would never be able to be a partner in an accounting firm, you'd need to qualify any advice you give, you require other people to sign off on your work, your clients may not appreciate your lack of CA/CPA qualification, your ability to get a job in anything more technical than book keeping or management reporting may be challenging, etc... that being said, if you aren't able to do all the prerequisite subjects then you'll need to consider what bridging options are available to you. If I were in your shoes, I'd just do them all. You can lengthen your degree if you need to just so you can meet all the requirements but judging by the fact you are considering other subjects/majors/etc, I don't think that's necessarily the issue- it's whether or not you genuinely want to go down this path.

That all being said, it sounds like you aren't very dedicated to this career path and are really only seeking a backup. Whilst you may get an accounting role in a firm/company willing to sponsor your bridging course and CA/CPA qualifications, keep in mind that your interview process will be made that much harder as you really do need to prove that you are committed to the career path before the firm/company commits to paying for you to convert.

Also what are the wages of a Chartered Accountant or CPA? Which postgrad accreditations would be better to get out of those two?

For most accounting roles for someone with no professional qualifications, I would expect the salary range to be between high 30's to high 70's depending on organisation (e.g. banks would pay higher). That being said, most of the higher end roles would be on the assumption you are studying for CA or CPA and failure to complete this within a certain time frame (or failing) could be grounds for dismissal. A CA/CPA however has no real limit since with that qualification you could be a partner/CEO/CFO/etc...

As for which of the two to go for, depends on what you're interested in and where you want to work. Most jobs nowadays don't really care which one or the other but CA still has the old school 'prestige' factor because it's considered more challenging to obtain, and some jobs are CA-only (e.g. chartered firms).

A speaker at a recent ICAA event I went to made a good point- even if you aren't working in the accounting profession, the CA qualification stands for more than just accounting. It shows that you're hard working, able to analyse information, have an opinion, etc... in other words, it says a lot about your character. And that's the point of a good industry qualification/governing body.

 

[meilz92]

Does anyone know anything about human capital consulting? What kind of majors are required for this (other than HR)? Job prospects? Salary?

 

[Ziva]

Does anyone know anything about human capital consulting? What kind of majors are required for this (other than HR)? Job prospects? Salary?

ugh

HR is the joke of the corporate world

just sayin'

 

[seremify007]

I don't know much about HR but if I was to point you in a direction, various websites offer salary guides for various professional industries. Off the top of my head I can think of HAYS group but there are quite a few out there which will give some indication.

 

[seremify007]

ugh

HR is the joke of the corporate world

just sayin'

Stereotypically I can see where you're coming from here but also keep in mind that there is an industry for HR consulting. It sounds so trivial but further up the career path there are opportunities in terms of progression/succession planning for companies, remuneration consultants, etc... basically people who look at how to manage the natural flow of people through organisations and motivation techniques. The latter is particularly challenging especially in the complex world where it just isn't trendy (or socially acceptable) to pay big dollars on it's own and there is shareholder focus on aligning executive remuneration with shareholder interests. Pick up any large ASX-listed company's annual report and check out the Remuneration Report disclosures to get an idea of how complex these schemes can be.