Students who have graduated in fields other than accountancy, but now wish to pursue a professional career in accountancy can complete a postgraduate Master of Accounting. The program encompasses both introductory and advanced aspects of professional accountancy, with modules of study including economics, audit, security appraisal and tax law. The academic aspect of the program is balanced, with plenty of hands-on experience designed to develop students’ leadership and decision making skills.
Upon graduation, it is advisable for candidates to become affiliated with a professional body, such as CPA Australia or Chartered Accountants Australia & New Zealand (CAANZ). These organisations also offer accreditation to some of the nation’s leading Master of Accounting programs.
While the CEO is launching new products and services to drive business growth, it is the accounting and finance team who are working hard to ensure the business is financially capable of delivering the strategy. Some accounting graduates choose to pursue careers as private or chartered accountants, while others join large corporations, beginning in junior analyst roles and progressing to management accounting roles and possibly all the way up to Chief Financial Officer and beyond. The public and not-for-profit sector also rely heavily on their accounting teams to ensure that business is conducted legally and ethically. And with the median salary for a MAcc graduate standing at almost $75,000 in a management accounting role, those late nights crunching numbers suddenly don’t seem so bad!
A masters in accounting is usually completed over either 2 years of full-time study or 4 years of part-time study. The qualification will provide you with an advanced understanding of both the theory and and practice of professional accounting. It will teach you the skills to be able to solve more complex accounting and business problems. After completing this study it will enable you to be able to pursue higher level accounting and finance roles.
Once you've graduated from a masters in accounting there are many roles that you can apply for requiring a more specialised skill-set and knowledge of accounting and finance, such as chief financial officer, accounting manager, chartered management accountant, business adviser and forensic accountant.
There are scholarships available for a masters in accounting if you fulfil the eligibility criteria. You can review hundreds of accounting scholarships here. Austudy is typically not offered for masters of accounting degrees, but some universities may be an exception to this.
To be able to enrol for a masters in accounting you will have to have successfully completed an undergraduate degree in this field or a related field. Selection for a masters is based on academic performance and being approved for your thesis research topic (if taking a research masters).