How to become an accountant

Master the art of numbers in an ever-evolving industry, guiding businesses and shaping economies.

Have a knack for numbers, a keen eye for detail, and a passion for problem-solving? Then a career in accounting might just be the perfect fit for you.

“An accountant is a professional who specialises in managing and analysing financial information,” says Dr. Kevin Thai, Lecturer of Accounting at RMIT, “Accountants play a crucial role in helping businesses make informed financial decisions while ensuring compliance with financial regulations, and thereby fostering sustainable business development.”

As an accountant, you'll be the heartbeat of a business, deciphering the numbers and providing the financial insights that steer business decisions.

A woman points at a graph on a large screen while two men listen to her.

Becoming an accountant

To become a qualified accountant, you have to start by gaining a relevant undergraduate or Masters degree accredited by a professional body, such as the Certified Practicing Accountant (CPA) Australia, Chartered Institute of Management Accountants (CIMA) or Association of Chartered Certified Accountants (ACCA). The next step involves gaining practical experiences such as internships and entry-level positions. Following these, specialisation in a certain area such as auditing or even management accounting along with continuous professional development will assist you to advance in your career.

But how do you know accounting is right for you?

According to Dr. Prabashi Dharmasiri, Lecturer of Accounting at RMIT, "Accounting is a diverse discipline that keeps constantly evolving due to changing stakeholder needs. The best piece of advice is to keep an open mind to the possibilities and opportunities out there ranging from simple financial recordkeeping keeping to assurance of contemporary issues such as sustainability. In addition, when planning your long-term career goals, it is imperative to understand where your talents could best suit to keep you motivated."

Apply to an accounting course

"At RMIT, an accounting student will experience a dynamic mix of interactive workshops, self-directed study, and industry engagement activities. Students can develop their analytical and communication skills through innovative educational tools like simulations and case studies” Dr. Thai explains.

"Students will develop critical skills and how to apply them through attending workshops. Students can also expect technology embedment across many courses in the form of games, data visualisation and analysis.” Says Dr. Dharmasiri.

Two female accounting students work together

Bachelor of Accounting

Designed to equip you with in-depth knowledge, in this degree you will learn how to analyse and evaluate data and information throughout the accounting discipline, preparing you for accounting jobs and a range of other challenging and varied roles linked to accounting principles.

An accounting student discusses his work with his accounting teacher.

Master of Professional Accounting

Designed primarily for students from non-accounting backgrounds, you will develop an understanding of the technical and social dimensions in accounting and business, delivered through industry-informed, work-integrated learning subjects and global study experiences.

Explore RMIT's accounting courses

Join a professional accounting body

Upon graduation you will be eligible for membership with a professional accounting body such as the internationally recognised CPA Australia, CIMA, ACCA, or CAANZ.

What does an accountant do?

Dr. Thai explains, “An accountant undertakes various financial tasks, such as financial reporting, tax preparation, auditing, budgeting, and financial analysis. However, accounting goes well beyond numbers—it's the art and science of generating business insights.With these insights, accountants can assist businesses in creating sustainable value and effectively communicating it to a wide range of relevant stakeholders. In recent years, the role of accountants has been transformative, driven by high demand for specialised skills in areas such as digital reporting, big data, as well as AI and automation.”

Dr. Dharmasiri adds, "Specialisations include providing assurance in the form of internal and external audits, where the role involves assessing the accuracy and reliability of financial and non-financial information.”

What skills does a successful accountant need?

“A successful accountant requires a distinctive mix of both hard and soft skills. For example, hard skills include technical accounting knowledge, ability to generate data-driven insights while soft skills such as attention to detail, effective communication, and strong work ethics are equally valued. These skills are crucial for staying future-focused and adapting to rapid technological advancements.” Says Dr. Thai.

Common tasks, duties, and responsibilities

Keeping track of financial transactions and documents
Preparing and analysing balance sheets and profit and loss accounts
Ensuring taxes are paid correctly and on time
Providing advice on cost reduction, revenue enhancement, and profit maximisation
Conducting internal audits and assisting with external audits
Ensuring compliance with financial regulations and legislation
Preparing financial reports for management, regulators, and stakeholders
Assisting in budget preparation and financial planning
Providing financial forecasting and risk analysis.

Where do accountants work?

“Accounting graduates have an abundance of career options to choose from, including roles like accountant, auditor, business analyst, investment manager, management accountant, and taxation adviser." Says Dr. Thai.

"Accountants work in a multitude of different settings, ranging from public accounting firms to educational and healthcare institutions. Some underrepresented work is also being done by accountants in government agencies and nonprofit organisations." Adds Dr. Dharmasiri.

How much do accountants earn?

The median full-time weekly earnings for accountants in Australia is $1,841 per week*, while the median hourly earnings are $48 per hour*.

Learn more about your accounting study options

Whether you're a Year 12 student weighing up your options, thinking about switching careers or a professional looking to expand your skills, RMIT is ranked as #8 in Australia and in the top 100 universities globally for accounting and finance^, so no matter which course you choose, RMIT will equip you with the skills and knowledge that can help you succeed as an accountant in Australia.

Related careers

Graduates of the Advanced Diploma of Accounting meet the educational requirements for registration as a tax agent as prescribed by the Tax Practitioners Board (TPB) under the Tax Agent Services Act (2009). There are other conditions to be met in order to register as a tax agent (including a supervised work experience component) and graduates seeking tax agent registration are urged to check current licensing requirements with the TPB.

A completed Certificate IV in Accounting and Bookkeeping will meet the minimum educational requirements to register as a BAS agent within Australia as prescribed by the Tax Practitioners Board under the Tax Agent Services Act (2009). 

Explore RMIT's accounting courses

*Source: www.jobsandskills.gov.au 2023

^Source: QS rankings by subject 2024

Acknowledgement of Country

RMIT University acknowledges the people of the Woi wurrung and Boon wurrung language groups of the eastern Kulin Nation on whose unceded lands we conduct the business of the University. RMIT University respectfully acknowledges their Ancestors and Elders, past and present. RMIT also acknowledges the Traditional Custodians and their Ancestors of the lands and waters across Australia where we conduct our business - Artwork 'Luwaytini' by Mark Cleaver, Palawa.

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Acknowledgement of Country

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