The role of an accountant would be to prepare financial statements which would involve working out end of period adjustments, ensuring non-financial aspects like depreciation are accounted for; and preparing income tax returns. Many accountants then have a role in analysis of business financial performance. Accountants in smaller businesses may also undertake bookkeeping activities.
Bookkeeping is the process of updating and managing a business’s financial records. An accounts clerk may pay and record bills paid, issue and record customer invoices, updating customer payment details and looking after petty cash and banking. The bookkeeping tasks then follow: posting those transactions to the relevant income and expense accounts; ensuring GST is accounted correctly and working out details for Business Activity Statements.
An accountant may use accounting software packages, but must understand the accounting package is doing, and be able to set one up that meets the needs of the business, and ensures that it complies with tax rules. In businesses where this isn’t a specialist role, the accountant may also undertake payroll functions and therefore associated tax remittances for PAYG.
The Diploma of Accounting qualification would best suit those working within a business undertaking high level accounting duties. It is an ideal qualification for those who want an accountancy career without going to university.
Learn More in our Online Diploma of Accounting
There are great reasons to consider a career as an accountant.
FNS50215 Diploma of Accounting will give you the advanced accounting knowledge to take the next step in this field.
Benefit from studying online, but in a supported environment. Enrol now or give us a call to talk about your career goals.