ASA+ 2022 Careers Guide

THE

A R

ACKNOWLEDGEMENT OF COUNTRY

Accounting Students' Association acknowledges the Traditional Custodians and Rightful Owners of country throughout Australia and their inextricable connections to land, sea and community This land on which Macquarie University rests belongs to the Wattamattagal Clan of the Darug nation, whose culture, customs, norms and way of life have cared for this land since the Dreamtime and continue to We pay respect to their Elders past, present and emerging and extend that respect to all Aboriginal and Torres Strait Islander peoples today

PRESIDENT'S WELCOME

It is my honour and privilege to welcome you to our Careers Guide of 2022 This publication was carefully curated and compiled by our 2022 Publications team, led by Jayashini Muputugala, to further assist you in your career search during university and after graduating, as a Macquarie student.

Although we are an Accounting Students Association, our vision has always extended further than just assisting accounting students; it is more aligned with equipping our members with professional and employable skills to enhance their corporate performance This is furthered within our 2022 guide where we have relevant sections guiding any Commerce student From tips to excel within your degree and career, to work experience and internship opportunities and overall job opportunities, this guide allows students at any stage of their degree but more specifically those in their penultimate and final year of study to break into the industry

I thank all of our sponsors and interviewees, including ASA alumni, for their involvement with ASA and this student guide and in reminding us of all the opportunities available as a Macquarie Commerce graduate. We hope that this guide serves as an encouragement to reach your own professional goals and that we have also introduced you to new possibilities to capitalise on From our Executive team to you, we wish you all the best with your endeavours

Happy reading!

Aisha Jalal

EDITORS' NOTE

It has long been accepted that university can fundamentally shape who you are and whom you become. So, we can expect there to be mounting challenges that may seem hard to conquer. You might be pondering which career path to take, how to find and secure experience in your desired fields, and how to balance that all with your university courseload

We understand that these are daunting for most students and we hope to relieve some of this stress. This publication has been designed by students for students, advising you of many tips and tools to help ensure your success in university and beyond.

ASA's Careers Guide is full of useful information on the progression of your degree and career, student programs that provide you with practical knowledge, and the general recruitment process. It also covers relevant topics for aspiring accountants, such as the need for accreditation and technological trends arising in the field.

Your career isn't the only aspect of your university journey to consider. It's important to enjoy and embrace your university journey and every aspect of it, beyond just your career and studies. This is not the end all, be all! We want this Careers Guide and our future publications to inspire you to foster your education and professional development, while taking care of yourself.

ASA wishes all students the best of luck in completing their degree and/or finding a job.

Best Regards,

Jayashini Muputugala| Publications Director

Myuri Kuganathan | Senior Editor

FIND NG

ADVANTAGES OF DOUBLE DEGREES

Myuri Kuganathan and Arnav Gandhi

Are you interested in studying a double degree? There are many students at ASA who have chosen to undertake a double degree during their university studies Whilst there are countless career opportunities that come out of completing a stand alone business or accounting degree, a double degree allows for you to combine your interests in two areas of study and provide you with a broader skill set and knowledge base Your time at university will be enriched as you will develop interdisciplinary skills, build a bigger professional network and develop a unique perspective of your world There are many double degree combinations to choose from so we will explore some options and the unique benefits of enrolling in these degrees.

Commerce & Psychology

There are endless connections between the business world and the study of human behaviour After all, commercial markets are an expression of human wants and needs! A background in psychology is highly sought after in Human Resources and Management roles as you will be able to understand. communicate and empathise with different types of people This type of skill set is also compatible with marketing roles as one of the main factors in this area is tapping into our unconscious biases and desires. A specialised knowledge of consumer and employee behaviour will also help you develop the necessary analytical and problem solving skills to kickstart your professional career

Commerce & Economics

Businesses are one of the many actors participating in our global economic systems. A background in economics will set you up with a rigorous, theoretical basis as to what factors drive markets, interest rates, inflation and currency

movements. This specialised knowledge is now sought after in accountants who provide advisory services to individuals, small to medium enterprises and large corporations Another benefit of studying economics is that some subjects, such as econometrics, can equip you with technical skills such as data analysis.

Commerce & Information Technology

The traditional conceptions of business have begun evolving in this new digital era as more businesses are adopting digital technologies to simplify business processes and increase efficiency Background knowledge in programming, data modelling and cybersecurity is highly beneficial when tackling issues such as security problem detection and mitigation a prominent challenge for many businesses As more businesses adopt digital technologies as part of their processes, it is crucial to have both a problem solving and technical mindset when providing advisory services

Commerce & Law

It has been commonly understood that accountants and lawyers are the best of friends A foundation in law will help you navigate through the complex regulatory and compliance structures that underpin the accounting profession There are many hybrid areas between accounting and law such as tax accounting which require professionals to interpret tax legislation and apply the relevant provisions to their client’s needs Whilst you are required to undertake some law classes in an accounting degree, having a background in tax, corporations and contract law will help you when working in the commercial sphere. Even if you have no intention to become a practising lawyer, studying law alongside commerce will help you become a more conscientious, intelligent and perceptive individual in your professional career!

AVOIDING BURNOUT

Keanna Lau

Burnout is a state of emotional, mental and often physical exhaustion brought on by prolonged or repeated stress

University students may feel particularly stressed in needing to balance the various spheres of their lives, including work, study and personal domains It is important to recognise the signs of burnout and take adequate steps in managing stress to ultimately take care of your health

SOME ACTIONS YOU CAN TAKE TO AVOID BURNOUT MAY INCLUDE:

Develop Good Study Habits

This involves ensuring you manage your time wisely Preempt busy periods and note when assessments are due, so you can reduce work and other obligations accordingly. Part of developing a good study habit is also learning to prioritise in order to increase efficiency and reduce stress

Set Realistic Expectations

Stemming from the previous point about the importance of prioritising, you should set achievable goals The achievement of small goals helps increase motivation and reduce anxiety. It is important to not place overly pressure on yourself to attain perfect grades Be forgiving of lf

Be Mindful

Practice self care by setting time to tend to yourself Take breaks to increase focus and improve productivity.

Learn to Say "No"

Although it can be challenging to turn down commitments, learning to say “no” when you feel too overwhelmed with tasks can be extremely useful in reducing stress Don’t feel obligated to take up activities that you are not interested in solely for your resume.

Stay Involved at Uni

Taking a unit that interests you or joining a society that you are passionate about can be refreshing It allows you

STUDENT PROGRAMS

Siddharth Tatikonda and Adam Talbot

Cadetships

Cadetships often combine a balance of study and practical work experience. Cadetships vary in length but generally range a few years consisting of part time study and full time work A cadetship provides a wealth of knowledge and training to individuals usually quite early in the university degree, providing unique first hand experience and foundational skills. The programs usually open early in the year

Internships

Internships are programs that are arguably the most flexible which bodes well for students who need to balance a heavy workload Ranging from short to long, paid to unpaid, and part time to full time, internships provide plenty of opportunities for students to gain experience while still being in university. Some of the advantages of attending an internship include developing essential transferable skills, working with experienced mentors, and perhaps increasing your chances for vacationer, undergraduate and graduate role opportunities Internships can open at any time during the year so keep a lookout for dates from your favourite companies.

A phrase you might hear as you dive further into your degree is ‘vacationer program’ This is a type of internship that usually occurs during the university holidays of your penultimate year That is, the second last year of your degree You can gain insight into the firm and achieve a better understanding of your interested field and whether you can see yourself working for them in the future Practical experience, direct exposure to clients, and the chance to network with fellow peers and professionals in the industry are just a few examples of what you can expect. Plus, there’s an added extra! You may get the opportunity to secure a place in the graduate program or an undergraduate role Look out for these during the months of January to March, July and August.

Graduate Programs

As you near the end of your degree, graduate programs may be on your radar. These help students who have completed their degree to enter the workforce, offering opportunities to learn, grow and develop work skills. Each year, various organisations, from small boutiques to large corporations, offer graduate programs to hire a new cohort of bright young workers. These programs allow a new worker to experience several different divisions of a company or perhaps hone their skills in a chosen specialisation. Companies from across all industries offer graduate programs, making them a highly valuable tool for any fresh graduate. Application dates usually open early in the year

POSTGRADUATE OPPORTUNITIES

Siddharth Tatikonda and Adam Talbot

Macquarie University offers a vast range of postgraduate courses for both domestic and international students within the field of accounting By enrolling into postgraduate studies, students engage with insightful and rewarding subjects, the necessary knowledge to undertake pathways recognised by professional bodies such as CA, CPA, ACCA, and other professional bodies

Why Get a Master's Degree?

Postgraduate education provides specialised, intricate knowledge within certain fields of study. By completing a master’s degree, students receive greater credibility within their relevant industry, gaining a competitive advantage against other candidates when looked on for new work or promotions. On top of this, holding a master’s degree can increase your potential salary expectations Some studies have approximated that an 11% 14% increase in salary can be expected from holding a master’s degree in accounting, even before meeting CA or CPA recognition

Master of Accounting

Duration: 2 years (Full time)

Study Options: Full time / Part time

A Master of Accounting equips students with the necessary knowledge and skills to work as an accountant, applying the integral skills and demonstrating technical knowledge required in the profession Students complete advanced units taught by industry professionals and individuals who have experience working in the accounting industry Accordingly, students undertaking this degree will be equipped with the ability to make professional judgements and solve complex accounting problems

Master of Professional Accounting

Duration: 2 years (Full time)

Study Options: Full time / Part time

A Master of Professional Accounting allows students to specialise in their studies by focusing on the pathways recognised by one of the professional accounting bodies (CA, CPA, or ACCA). This specialisation offers different skills and knowledge to assist students based on the individual requirements of their qualifications Regardless of which path students choose to take, students will develop a range of advanced professional skills, including strategic management accounting, reporting and

disclosure, and ethics and governance. This course is designed to provide students with resources to help them succeed in an increasingly dynamic and global accounting environment.

Master of Commerce

Duration: 2 years (Full time)

Study Options: Full time / Part time

A Master of Commerce ensures that students are prepared for any task headed their way, whether it be for an employer or themselves This course is designed to extend the business knowledge of students and provide practical experience to ensure students are highly employable In doing so, students are provided with a wide range of options to choose from when they decide to start their career in the accounting industry. This course provides the flexibility of allowing students to specialise in areas, such as accounting, that establish a strong foundation for careers that provide professional services

Macquarie University provides extensive opportunities for those pursuing CA, CPA, or ACCA qualifications and recognition The ability to specialise your degree, combined with teaching staff who apply theoretical frameworks using practical experience, will help enhance your learning experience and provide an overall better quality education

GETTING ACCREDITED

Sze Kay Wong and Aisha Jalal

One of the questions that often roam the minds of accountants is “how can I receive accounting accreditation and which qualification is right for me?”

You may recognise this article from our 2022 Annual Publication's sneak peek into this Careers Guide We hope you can find some guidance below...

The value of accreditation

Accounting accreditations are external recognitions gained from working through a program’s core accounting subjects and electives required by accrediting bodies Upon completion, you can be recognised as a part of the accounting membership body, such as Chartered Accountants Australia and New Zealand, CPA Australia, or ACCA, and be issued a certificate This also opens opportunities for you to climb the corporate ladder.

Accounting is one of the most popular majors taken by business students from Australian universities Therefore, it is important to differentiate yourself from the rest of your cohort. External accreditation can provide graduates with lifelong knowledge and access to exclusive events and resources from that accreditation firm Furthermore, it will enhance your reputation as a competent professional, which allows for greater career mobility.

Additionally, public practice certificates are required by law and are necessary to perform public accounting services, such as auditing and compliance, tax accounting and corporate advisory, in many firms across Australia and New Zealand. If an accredited accountant displays proof of their certificate, employers will have the impression that they will complete their work to the highest standard

Chartered Accountants Australia and New Zealand

What is the CA designation?

Chartered Accountants are well rounded business leaders who strive to make a difference. They are equipped with technical and soft skills, exceptional commercial acumen, professional scepticism, and critical thinking, as well as a passion for lifelong learning and keeping up to date with the changing nature of the business all within an ethical framework CAs are able to identify and assess business challenges from different angles, ask the right questions, identify, anticipate and resolve business challenges, make well informed and strategic decisions, and adapt to the changing work landscape

Why Chartered Accountants Australia and New Zealand?

Gain the skills to make a difference to business, economics and societies

By choosing the Chartered Accountants Program, you’re partnering with one of the world’s leading higher education providers in accounting

We are the only professional accounting body in Australia registered as a higher education provider by the Australian government and regulated by the Tertiary Education Quality and Standards Agency (TEQSA)

Once you complete the Program and become a CA, you’ll also hold a Graduate Diploma of Chartered Accounting (GradDipCA): an AQF accredited postgraduate qualification and an internationally recognised designation.

As a Chartered Accountant, you’ll be equipped to thrive in a fast changing world, with the unique perspective and skill set required to make a difference in the challenges of our time.

Global quality benchmark

As a member of the Global Accounting Alliance (GAA), we’re recognised among leading professional accounting bodies in the world

That means your designation is not only recognised as one of the most highly regarded professional accounting qualifications in the world; it’s also your ticket to play in major capital markets overseas

The CA Program provides you with the freedom and flexibility to work in exciting environments all over the world wherever you see yourself making a difference

Strength in numbers

Chartered Accountants ANZ represents a network of more than 131,000 members who use their expertise to make a difference to the businesses, organisations and the communities in which they live and work.

Chartered Accountants Australia and New Zealand is committed to advancing the accounting profession through upholding ethical standards, delivering world class member services, educating and advocating for the public good.

We provide value to members at every stage of their careers by promoting, recognising and protecting their designations as well as keeping them connected with other members and supporting the next generation of talent to enter the profession

INTERVIEW WITH CHARTERED ACCOUNTANT

Ketvi Roopnarain

An inspiring conversation with Ketvi Roopnarain, Senior Manager at Transport for NSW Infrastructure & Place, explores the many benefits of pursuing the CA designation, and offers advice for those starting their professional journey.

Tell us about yourself.

A proud Macquarie University alumnus, I moved from Mauritius to Australia on Macquarie University’s full international scholarship to study a Bachelor of Applied Finance and Commerce.

I had such a great time at uni, I ended up doing an Honours year in Accounting and taught both management and financial accounting as a sessional Academic in that time The highlight of my Honours was getting published in the British Accounting Review

Before embarking on a PhD (still on the cards for my encore career), it made sense to join corporate life to solve real world problems in accounting Getting into the AMP Graduate program (#1 in graduate program in financial services in Australia at the time) was the start of my career in financial services and enduring passion for financial literacy

My parents instilled in me a love for community and as such I’m involved in many volunteer initiatives Outside of work, I help run workshops with MoneyGirl, a financial literacy social enterprise, which helps equip young people with the skills necessary to control and understand their finances. I also write a financial literacy column in a major national newspaper, Le Mauricien in Mauritius

What drew you into the field you currently workin?

I have always loved numbers Numbers garner trust and tell a story Accounting, after all, is about information to help decision making

One of my favourite subjects was Professor Sean Turnell’s Money & Finance at uni. It was fascinating to learn about the 2008 Global Financial Crisis (GFC) in class as the situation was evolving, week after week. It brought to life how financial services are a key, integral part of the economy, how interlinked industries and the world are and on a micro level, how finance affects all individuals.

My career pivot into public service came about when I left London, where I had spent the pandemic years in the world of startups and fintechs and wanted to make an impact for the greater good in Sydney, which is home for me. It was easy to choose Transport given the state’s commitment for record infrastructure spending in the history of NSW and the prospect of being a part of signature projects like the Sydney Harbour Bridge would have been 90 years ago.

As a CA and a finance professional, the core skills remain the same which makes it easy to transition between industries.

What does a typical day of work look like in terms of your roles and responsibilities?

In my current line of work, finance business partnering, no two days are the same! Post the pandemic, workplaces are even more versatile and throughout the day, I end up wearing many hats strategic thinker, project manager, mentor, mediator and problem solver

The anchor is making sure that behind every meeting, every project plan and every issue you’re trying to resolve, is that every dollar is being put to best use.

Describe your journey within the CA program and how that has benefitted you external to the program.

What I enjoyed the most about the CA program was the flexibility and variety of subjects A big part of the experience for me was the collegiality and the network of peers and mentors who supported me through my studies From my graduate champion, my CA mentor, my people leader to everyone in my graduate cohort studying together and attending the same masterclasses, everyone valued the CA program for the skills, rigour and ethical toolkit it provides a young professional to better navigate their responsibilities at work

Pro tips:

Pick people you’ve never met before for the case study project work in the ICAP unit.

Choose your CA mentor wisely, ideally someone you look up to as a role model whose career path you’d like to emulate and someone who isn’t afraid to challenge you in the most constructive way

Explain the benefits of getting accredited and how the CA designation differentiates itselffromotheraccountingaccreditations.

A CA accreditation is a bit like a passport to the world. Getting accredited for me, increased my mobility as a young professional, with the opportunity to work internationally. Whilst all accounting designations are deemed equal, CA ANZ is part of the Global Accounting Alliance (GAA) and has strong links to multiple professional bodies.

I personally benefited from the structure of the CA program and how it requires an industry mentor and being employed in a related field to be able to enrol in the program. The rigour needed to time manage and prioritise work, balance life and study commitments helped me find my stride at the start of my career.

Could you tell us some qualities and skills, both soft and hard, that make a potential candidate stand out? How does the CA programenhancethese?

When seeking out your first role, it is important to do some introspection As the saying goes, Fail to plan, plan to fail so try to answer questions like What do I care about, what does success look like to me and what do I enjoy? Where do I see my career and what are the skills and experiences I need to get there?

Some of the most important soft skills university students should be able to showcase are teamwork, communication, collaboration, time management, prioritisation and conflict management After all, we are people working with people Good grades are important but equally important is to show we are a balanced individual

The CA qualification opens doors to work internationally, which is something I had always been interested in. As a CA member post qualifying, you have a vast international network that you can always lean on for advice as well. There are also numerous opportunities to get involved with CA ANZ for example, I am on the Young CA panel

keep reading

Highlight that job in retail and hospitality it shows you were able to hold a job and meet your uni commitments whilst working under pressure. The team project you led, the extracurriculars joining uni societies will be great examples in interviews of leadership, initiative, networking, and collaboration.

Cultivating soft skills should be a focus when getting ready for professional work, as technical skills can be learnt even while on the job When recruiting for my team, often times, I will give equal importance to grades and attitude.

With technical skills, continuous learning and improvement via micro credentials (formal or informal), learning to leverage excel, MS Office suite, Power BI and keeping up to date with accounting software, maintaining professional scepticism and being diligent when presenting any piece of advice, is what can make real impact and add value to any business you’re support.

The CA program helps with both technical skills and soft skills, especially with the requirement for you to track your progress with your CA mentor helps keep you accountable on the aptitudes and work experiences you need to have obtained by the time you’re applying for full membership.

What is one hot tip you would give to students interested in the CA program offered by CA? And a tip for someone starting out in the corporate industry?

For students interested in pursuing a career in accounting or finance, most employers will require you to undertake a professional qualification It also helps that once you qualify as a CA, your market value substantially increases as a reflection of the skills you now have in your toolkit

Hard to pick one tip have a north star, make a plan and get started, regardless of whether you know exactly what career path you want to take

Take a step forward, one step at a time There is no wrong decision, there are only better ways of doing things Set big goals, do not self reject put your hand up for an opportunity, apply for that role, learn from the curveballs and celebrate your milestones

Always aim for gold because even if you fall short, you should be close to that north star! As Norman Vincent Peale says:

"Shoot for the moon.

Even if you miss, you'll land among the stars"

Supporting you achieve Internships & Graduate roles

At Chartered Accountants Australia and New Zealand, we want to help you set yourself on the path to potential career success You Unlimited (youunlimitedanz com) is our online knowledge that aims to help you better understand the finance and accounting industry, support you to achieve your goals, and showcase how becoming a Chartered Accountant can empower you to make a difference in the world

Here is a snapshot of some of the resources made available on You Unlimited

Career advice

Check out our helpful career advice articles and discover how to enhance your knowledge and skills to help make yourself a more desirable job candidate and improve your employability in a number of different ways

Career opportunities

Discover potential career opportunities with the Careers Guide Take advantage of our relationships with affiliated employers through their internships, cadetships and graduate employment programs

Networking events

Keep up to date on our upcoming careers events (held both in person and online) giving you the opportunity to sharpen your soft skills, grow your network and meet industry experts.

Be inspired

Career sector quiz

Discover the type of accounting organisation your personality and working style could be best suited to by taking our quick 10 question quiz.

Virtual internships

If you’re looking to learn and build on your skillset, and find out what it is like to work in the finance and accounting industry, our virtual internship program is designed to help you on your path to becoming a difference maker.

GETTING ACCREDITED

Chwen Sern Sim

Certified Practicing Accountant (CPA)

What is CPA?

A Certified Practicing Accountant (CPA) is a qualified financial, accounting, and/or business professional, and the CPA designation is universally recognised by employers and members as a symbol of having a comprehensive understanding of a wide range of accountancy knowledge

CPA Australia is one of the main professional accounting bodies with a global membership of more than 168,000 members (as of February 2021) working in more than 100 countries with the support of 19 offices around the world In Australia alone, there are more than 25,000 members who hold senior leadership positions The organisation aims to advance trusted and valued accounting and business professionals by providing education, training, technical support, and advocacy for its members

Why CPA?

In addition to its international reputation and legacy, the CPA program equips members with the skills and confidence to approach accounting, finance, or business matters as well as develop important aspects of their careers such as leadership, strategy, and business

CPA Program candidates have access to online learning platforms, supplementary materials, and even member groups on Facebook, LinkedIn, and Twitter. Upon completing the CPA Program, CPAs are provided with short courses and online learning as part of their Continuing Professional Development (CPD) requirements CPAs also receive industry news through INTHEBLACK and the CPA Australia Podcast, exclusive special offers through the Member Benefits Program, an online career planning tool in My Career Navigator, and access to full text journals, newspapers, ebooks, and other resources through the CPA Library

While the CA Program may offer more opportunities for technical specialisation such as in auditing or tax the CPA Program is more suited to those who seek to develop a diverse accounting skillset. These broader skills, such as those relating to costing and planning, can lead to a wider range of opportunities, especially in business management and industry accounting Ultimately, you should research roles and opportunities of interest to determine the most appropriate qualification to pursue

Requirements for CPA

1 The Eligibility Criteria:

You are not required to hold a degree accredited by CPA Australia or even a relevant degree in a complementary field (e g , accounting) to commence the CPA Program

However, you may be required to complete one or more Foundation exams prior to commencement Furthermore, you must hold a degree recognized by CPA Australia that is at least equivalent to an Australian Bachelor’s degree to advance to CPA status Search for courses accredited by CPA Australia at this link

2 Apply to be an Associate member:

The application process to be an Associate member of CPA Australia involves providing supporting documentation including official academic transcripts, evidence of degree completion, and proof of your identity Applicants acting as a principal in public practice or undertaking any accounting services will also need to provide information about their position, services offered, and public practice qualifications Members of an accounting or finance professional body will also be required to provide a letter of good standing

3. Enroll in CPA Program subjects and complete 36 months of relevant experience

Once your application to be an Associate member has been approved, you may then enroll in CPA Program subjects Completion of all four compulsory subjects Ethics and Governance, Financial Reporting, Strategic Management Accounting, and Global Strategy and Leadership and two electives is required to satisfy the Program requirements. Associate members must also complete 36 months of relevant experience before, during, or after studying the CPA Program subjects. The subjects and experience requirements must be fulfilled within six years of becoming an Associate member; however, you can apply for an extension, although one is not guaranteed

4 Apply for full CPA status:

Once all requirements above have been met, you will be notified of your new status via email

5. Using the CPA designation: You may use the CPA designation once you receive an email confirmation from CPA Australia about your CPA status. Continued use of the CPA designation requires completion of annual CPD activities and compliance with a strict code of conduct set by CPA Australia.

CPAs wishing to offer public accounting services must also complete CPA Australia’s Public Practice Program and hold a Public Practice Certificate as per CPA Australia’s by laws

Highly experienced CPAs with at least 15 years of work experience in accounting, finance, or business, including five years either in an executive position or providing full time public accounting services, may apply to become a Fellow of CPA Australia (FCPA).

CPA Australia has several Mutual Recognition Agreements (MRAs) with other international accounting bodies; these MRAs enable CPAs to gain membership in other bodies and members of other bodies to gain CPA membership These international accounting bodies include Chartered Accountants Australia & New Zealand (CAANZ), the Association of Chartered Certified Accountants (ACCA), and the American Institute of Certified Public Accountants (AICPA)

For the most complete and up to date information, please visit cpaaustralia.com.au and/or contact your nearest CPA Australia office.

GETTING ACCREDITED

Joshua Thong

Association of Chartered Certificate Accountants

What is ACCA?

The Association of Chartered Certified Accountants (ACCA) is a global professional accounting body Their accreditations are recognised in 170 countries worldwide and have offices in 52 of them Across 181 nations, they have 900,000 total members and 480,000 of them are students.

The ACCA offers the world leading Chartered Certified Accountant Qualification which is highly valued by employers It provides students with the skills, knowledge and values to have successful and fruitful careers, while opening up many future leadership opportunities

ACCA differs from other accreditations like CPA and CA ANZ as a university degree is not required to undertake the program the only academic requirement is finishing secondary education Upon successful completion of the program, ACCA will award you with a professional accounting qualification which is not recognised as a degree ACCA is also known to be more challenging than an undergraduate accounting degree, as it combines subjects taught in both the Bachelor’s and Master’s Degree

Why ACCA?

The ACCA Qualification is a very cost and time effective method to gain accreditation, accounting knowledge and professionalism Upon successful completion, members gain technical knowledge in finance and accounting and even skills in organisational and strategic management This means you won’t have to bear the financial costs of university degrees and further studies to get future accreditation Additionally, you won’t have to spend at least three years in university.

Studying to obtain the ACCA Qualification is also extremely flexible. The ACCA gives you 10 years to complete your qualification from the date of registration Additionally, the program allows you to take examinations at your own discretion Examination periods are held twice a year in June and December and there is no minimum requirement for examinations that have to be attempted. However, there is a maximum of four Participants can self study anytime, although it is highly recommended to take classes.

Finally, it has strong recognition and a worldwide reputation with multiple accounting bodies, organisations and governments It is also based on international accounting and auditing standards which are accepted in a large number of countries. The opportunities for anyone with this accreditation are endless

Requirements for ACCA

To be eligible for the Chartered Certified Accountant Qualification, you are required to complete three GCSEs and two A Levels in five separate subjects, including Maths or English during your secondary education ACCA originated in the UK and the grades are the same for equivalent subjects in Australia and other countries

The Chartered Certified Accountant Qualification can be completed within a minimum of three years To achieve the qualification, students must:

Complete a maximum of 13 exams

Finish an ethics and professional skills module

Display evidence of three years of practical work experience in a relevant accounting role

Exams Structure

The first level is called ‘Applied Knowledge’ and consists of three examinations

Accounting in Business (AB)

Management Accounting (MA)

Financial Accounting (FA)

The second level is called ‘Applied Skills’ and consists of 6 examinations

Corporate and Business Law (LW)

Performance Management (PM)

Taxation (TX)

Financial Reporting (FR)

Audit and Assurance (AA)

Financial Management (FM).

The third level is called the ‘Strategic Professional’ Level and involves completing 2 essential and any 2 from the optional section

Essential Optional

Strategic Business Leader (SBL)

Strategic Business Reporting (SBR)

Advanced Financial Management (AFM)

Advanced Performance Management (APM)

Advanced Taxation (ATX)

Advanced Audit and Assurance (AAA)

These exams are offered worldwide in March, June, September and December and can be paper or computer based The passing mark for all exams is 50%

OPPORTUNITIES FOR INTERNATIONAL STUDENTS

Adam Talbot, Myuri Kuganathan, Mariah Miclat & Jayashini Muputugala

According to a recent study, international students account for roughly 9% of Macquarie University’s current students, with a substantial number of which who are enrolled in accounting related degrees Such a significant representation of students prompts the need for greater employment and networking opportunities to prepare these students for the future workforce. Hence, this article will highlight some of the many opportunities for networking and professional development that are available to both undergrad and postgrad level international students which promote the prospect of future employment

Seize every opportunity!

Constant opportunities are organised by CAANZ, CPA Australia and ACCA at Macquarie University and Sydney CBD, allowing students to network with industry professionals and gain further insight into an employer’s expectations within the industry These events are vital for international students in order to expand their professional network and gain first hand knowledge of contemporary accounting prospects that university studies alone cannot provide for.

Utilise LinkedIn and Networking

LinkedIn is a fantastic networking platform for those wishing to commence a career The platform provides a free outlet for international students to highlight their achievements and gain further insight into daily industry updates, all while building an online presence for industry professionals to view potential employment opportunities. Additionally, LinkedIn is a great tool for providing skill assessments and workshops for its users in order to allow individuals to stand out within such a competitive industry General networking can certainly open the doors for you as well. Keep an eye out for networking opportunities and build rapport with those you meet

Get Involved in Student Organisations

Student clubs and societies provide greater exposure to building future skills for employment and networking events held by the organisation These events provide opportunities for students to hear from industry professionals and understand the qualities employers are currently looking for and opportunities currently available for employment. Leadership, time management, and teamwork skills are just a few examples of skills that you can cultivate Further, joining a society is a great way to network with fellow students and make life long friends!

Also, check out International Students Support from MQ Career Hub

OPPORTUNITIES FOR INTERNATIONAL STUDENTS

Expand your applications

While applying for jobs can be daunting, using employment websites such as SEEK, Indeed, and Australian Jobsearch are great ways to get your name out to potential employers. These websites are constantly updated with new job postings daily, providing greater convenience for job hunters to apply for a greater number of industry related positions all in one place. Additionally, Macquarie University’s Career Hub promotes employment opportunities directly from industry specialists, giving Macquarie applicants a greater edge to explore employment opportunities that may not be released anywhere else.

Internships

It is no surprise that we want to work in our dream job, getting your foot in the door is the most important first step towards reaching our goal An internship may not be everyone’s ideal starting place; however, international students can gain an immense amount of experience from these opportunities. Further, internships expose students to real life scenarios that education alone cannot prepare students for; internships facilitate students with the necessary future skills needed for future permanent employment

While students tend to avoid applying for internships due to the stigma that interns are usually hired and then fired, new studies have shown that around 60% of interns are offered permanent roles after their internship period concludes. Contemporary business practices have shifted to become more employee focused, hence, student interns are more likely to be hired on the prospect of future permanent employment rather than just on a temporary basis In other words, many employers are hiring provisional staff to expecting to develop suitable candidates for permanent employment

Keep it Up!

By staying determined and putting yourself out there, any international student can establish themselves within the accounting industry. By taking onboard the opportunities outline above, not only can students continue to develop their employability, but also accentuate themselves for employment opportunities in the competitive labour market.

INTERVIEW WITHKingston Wong

Tell us about yourself.

My name is Kingston Wong, and I was the President of ASA in 2020/2021 I am currently a fourth year Business Leadership and Commerce student, double majoring in Finance and Accounting.

During my time as President, I communicated a strong emphasis on diversity and inclusion whereby the team could thrive in a supportive environment and be a part of a loving community. I have interned at numerous organisations such as J P Morgan, Deloitte and EY and have been announced as an Australian Financial Review Top 100 Future Leader for 2021 and 2022 I have also been fortunate enough to be awarded the 2022 New Colombo Plan Scholarship for the Republic of Korea, where I am travelling to the Indo Pacific region to explore unique perspectives on alternative investments

How has your experience at ASA been a part of your journey?

ASA has been a crucial part of my journey that has helped me get to where I am today I joined ASA in my first semester of university and met some of my closest friends during my time in the society Having close friends comes along way and that has truly been a highlight for in my journey as they have always supported me. I was elected as Vice President within 5 months of me joining ASA and President a year later, which opened up many opportunities. However, I had to work extremely hard for those positions I went above and beyond my role as a sub committee member and Vice President which in turn built my personal brand and reputation in and outside of ASA

I learnt how to operate effectively within a team, communicate with others efficiently and empathise the team on a personal level. Ultimately, my interpersonal skills, resilience, adaptability and leadership skills were honed to a high proficiency. These skills in conjunction with my vast professional network and personal brand developed from ASA, assisted me in obtaining the internships and mentors I have today. I will never forget my time in ASA and have made to sure to continue to connect with the members even after my term as President has ended. I am really passionate about helping others undergo self development to grow personally and professionally, and I hope to help shape the future leaders within the ASA team.

What is the key to being a great leader?

Every person will have their own idea of what it takes to be a great leader In my opinion, the quality of a successful and respected leader is reflected in the impact they have on others A great leader will do everything that they can possibly do to assist their followers reach their personal goals and the group’s unified goal With that being said, they must also operate ethically and understand the boundaries that they and their followers should not cross Being empathetic is one of the major qualities that all great leaders must have Having a high EQ will enable leaders to truly understand others and connect with the people they interact with on a more personal level

Were there any challenges you faced starting on your journey? How did you overcome them and what did you learn from that experience??

One of my biggest challenges that I have had to overcome is taking on every opportunity that was presented to me Some may say that this shouldn’t be a challenge However, I have learnt that you should never forsake the quality of your work for the amount of work you do I know that you may want to impress your manager by showing them how many tasks you can complete in a day However, if you have numerous errors in your output, completing those tasks quickly, will not mean anything. To overcome this, you need to find your personal middle ground where you are able to optimise the number of tasks you complete without hindering the quality of your output. This comes with time, and it took me at least a year to understand my limits

What advice would you give to students that are unsure of their career pathways?

For students that are uncertain of which career path to take, I strongly encourage you to start looking for opportunities early on Do not only focus on applying for internships with big companies. Expand your horizons and look into boutique firms and potentially shadow a partner instead of doing an internship. Any interaction within the workforce will assist you to get a better understanding of what you really want to do in life Start growing your social and professional network early on, as the conversations you have with others will also give you hints on whether a specific career path suit you

For students that are further into their degree, I would encourage you all to potentially delay your graduation and work full/part time in a firm so that when you do hit your penultimate year, you will have a better understanding of what positions you do not want to apply for There is no shame in delaying your degree University is not a race. Take your time, and find what you are passionate about I personally have still not found what career path I want to pursue, but that’s okay, I am developing transferable skills and expanding my network with each internship

R E C R U I T M E N T P R O C E S S

NETWORKING AND PERSONAL BRANDING

Matthew Leung, Lavina Chen & Thrisha Ramesh

Networking

Networking is an essential tool that enhances an individual’s career prospects by creating meaningful relationships with business representatives. Typically, these networks are fostered through our education or employment. Growing networks or communication chains extend what career opportunities are available to you. The statement “It’s not about what you know; it’s about whom you know” could not ring more true with networking. To facilitate these relationships, you should appeal to your target audience, that is, those whom you seek to join your network, through personal branding.

Personal branding

Personal branding is a fundamental element of successful networking. It is a concept where you market and elevate yourself by expressing what you can offer. This is the perception of you - your skills and personality that you present to the professional world. As such, the success of personal branding is dependent on whether you promote yourself as highly valuable and difficult to replace. Creating such an image makes it easier to appeal to employers, and assists them in determining whether you are suitable for their work environment. A combination of your workplace performance, mannerisms, and an updated LinkedIn page create a stronger brand. A stronger brand means you are more likely to get noticed within and outside of the workplace. Therefore, establishing your personal brand is crucial to facilitate your network.

How to effectively network with individuals

Several components are associated with effective networking.

Planning

To establish an effective personal brand, you should consider your interests, values, skills, and achievements. Then, choose the important ones to prioritise and promote based on your research and strong suits.

Research

To network effectively, it is crucial to first research the target industry. You should do this by analysing trends in these industries, so as to understand current demands, strengths, and weaknesses. This understanding can assist in instigating and continuing conversations with the other party.

Pitch

As seen above, it is crucial to communicate your personal brand. Introduce yourself in a persuasive, concise and memorable way, highlighting attributes that you seek to promote. This leads to a stronger interaction and a lasting impression.

Communication

Individuals should strive to be confident throughout their interaction to reflect capability. It is not suggested that you promote yourself to the point where your attributes and personal achievements are overwhelming. Approaching a person or business may be difficult and daunting. To alleviate the prospect of fear, individuals could ask a colleague to ‘team up' and introduce themselves.

Quality

Focus on the quality of time you engage with the other party. It is essential to take the time to learn more about the other person, rather than meeting as many people as possible. Try to maintain and strengthen the relationship over time.

Linkedin Profile

LinkedIn is one of the most effective ways for individuals to build their online professional network and enhance their personal brand to find a job and unlock new opportunities.

Take a professional photo

A LinkedIn profile picture is potential employers’ first impression of you. To establish a professional image, wear business formal clothing and smile. These help to present yourself as trustworthy and reliable.

Create an impressive headline

LinkedIn uses your current position in the organisation as the default headline for your profile. Think of your headline as what you would say after the initial handshake. Simply and concisely describe what you do and how you differ from others.

Tell a story in ‘Summary’ section

In the Summary section, share your personal journey and how you got here. Write from a first-person point of view and articulate the value you bring and have bought, like an elevator pitch. It is your best chance to show your competitive advantages and make an impression.

Complete your profile

It is vital that you include previous experience and provide examples of expertise. Fill in any relevant content, including links to articles written by you and professional organisations to which you belong. This differentiates you from competitors in the industry.

RESUME TIPS

Keanna Lau

What is a Resume?

A resume is a succinct, informative summary documenting your professional experiences, personal abilities, and education history. The purpose of a resume is to highlight your strongest assets and skills that are relevant to the job specifications, and ultimately distinguish yourself from other candidates seeking similar roles. Creating a powerful resume is an important step towards obtaining an interview.

Language Tips

A critical aspect in drafting a strong application is ensuring you use resume language adequately. This includes using:

Specific Language

Avoid using description that is too general. Ensure you focus on articulate writing to express yourself, rather than using flowery language in order to impress

Active Rather than a Passive Tone

Particularly, use action verbs when describing your experiences and accomplishments See below link from the Harvard Law School website for ideas: https://hls.harvard.edu/dept/opia/job search toolkit/action verbs/

Facts based Approach

Use a facts based approach when outlining your achievements and results. That is, quantify and qualify using metrics

Professional language

Avoid slang, colloquialisms, and abbreviations Moreover, do not use personal pronouns, such as ‘I’ and ‘me’.

Formatting Tips

The way in which you format your resume is crucial in maintaining professionalism as well as for ease of reading This is especially significant with recruiters averaging 7.4 seconds in skimming each resume, making it imperative that your resume is easy to follow Additionally, many employers now use Applicant Tracking Systems (ATS) to streamline the hiring process through sorting, scanning and ranking job applications This further reinforces the importance of formatting to enhance the ATS compatibility of your resume

Some general rules in relation to formatting your resume include:

Being Consistent in Format and Content

A well organised structure can be attained via utilising consistent spacing, font, font size, underlining, italics, bold, and capitalisation Reliable ATS friendly fonts include Times New Roman or Arial, and this should generally be at size 10 or 12.

Stick to 1 2 Pages

One of the most common resume mistakes is that it can be too lengthy Keep it concise

Avoid using Pictures, Tables, Charts and Many Colours

Not only could these graphics and colours potentially distract the recruiter from focusing on your relevant skills and experience, but it may also be difficult for an ATS to interpret the information presented in such graphic formats This extends to avoiding the use of special symbols as bullet points Instead, stick to simple circle or square bullet points.

Thrisha Ramesh

Structure of a Resume

It is important to keep your resume short and to the point, with only the most recent and necessary information detailing the resume. In Australian resumes, photographs of oneself are not required

Essential Details

Name and Contact Details

Ensure that you provide your full name Contact details like your current mobile number, email address are important. Additionally, you may provide your LinkedIn website as a hyperlink in your resume

A short write-up about yourself

This is to provide potential employers with a brief overview of yourself, your skills, and what you can contribute to and learn from the company This will be the ‘elevator pitch’ of your resume

Educational and Professional Qualifications

In reverse chronological order, starting with the most recent, list down your most important qualifications that inform the reader about your level of education and professional qualifications. State the start and end dates of your qualifications, the institute you obtained them at, and your majors. You may choose to mention your results if it will boost your application

Professional Experiences

List your most recent and relevant employment in reverse chronological order. Summarise some of the key roles and responsibilities that you were in charge of at the job, making sure it highlights your skills that are relevant to the current job that you are applying for

5Skills

State the relevant skills that are key in securing your job

Most importantly, always remember to inform your employers not only about your technical skills, but also your soft skills Technical skills point to having specialised knowledge and expertise, like computing languages, tools, and software needed for certain tasks Soft skills refer to personal attributes and values that enable one to interact effectively and seamlessly with others.

2Someone with more soft skills and experience may appear to be more employable compared to someone with only technical skills Soft skills are increasingly important to employers as they inform them on how you fit in with the company’s work culture and if you are someone who is open to learning

Here are some soft skills and technical skills that you may put in your resume:

Soft Skills

Verbal and written communication skills Problem solving Interpersonal skills

Analytical skills Time management skills

Technical Skills

Knowledge of accounting software like MYOB, Xero etc Knowledge of programming languages like Python, SQL, R, and more…

Experience with Microsoft Office Suite

Technical writing skills

Project management skills

Outstanding Achievements and Extracurricular activities

For outstanding achievements, please be sure to mention all relevant scholarships and awards that you may have received that will boost your application. For extracurricular activities, state activities that you take part in, beyond your paid work, like volunteering or responsibilities in university societies

Languages

7

If you speak other languages than English, this will be a good opportunity for you to boast your knowledge. Please also be sure to mention at which level your knowledge of the language is. For example,

English Native proficiency French Full professional proficiency German Limited working proficiency

This will ensure that your proficiency levels are accurately expressed, with your interest in learning languages also emphasised.

8Referees

Lastly, it is key to provide at least 2 referees who can attest to your character. This could be a past employer or university lecturer It is important to receive consent from your referees before writing their personal information on your resume. With their consent, please be sure to include their names, positions, and contact details like mobile numbers and email addresses

SAMPLE RESUME

COVER LETTER TIPS

Keanna Lau

Tips in Writing an Effective Cover Letter

Cover Letter Guidelines

Some guidelines regarding writing a cover letter include:Another critical aspect of the application process is writing a cover letter. This allows you to further elaborate on why you want the position, how your skills and experiences complement the role, and what value you can add to the organisation. As a result, the employer gains greater insights into your suitability for the position

Address your letter to a specific person (e.g., the hiring manager) if possible.

Do your research on the organisation to tailor your cover letter to the position you are applying for.

Refer to the specifications on the job description and draw connections to your skills, experiences, and accomplishments. Provide examples that further support your qualifications and employ action words throughout.

Be concise and factual Keep your letter to a single page Maintain the same font between your resume and cover letter for consistency.

Thank the hiring manager for their time and consideration before closing with a formal signature (e.g., ‘sincerely’).

SAMPLE COVER LETTER

Joylynn Taylor

Jane Smith 04 4444 4444 janesmith@example.com

Ms. Susan Jones [Title and name]

Head of Recruitment [Position title]

XYZ Pty Ltd [Company’s name]

17 Ramsay St, Sydney, 2000, Australia [Company’s address]

March 22, 2022

Dear Susan Jones, [Introduction]

Additional Tips

Write a fresh custom cover letter for each job to convey how your skills, qualifications and experience can add value to the position Don't be afraid to show enthusiasm! This can mean researching the website and LinkedIn

Address the preferred skills listed in the job description and match them with examples of where you have applied them Don't forget to highlight your transferable skills and soft skills.

Support your claim of why you're the best candidate for the position by quantifying your achievements. Leave the recruiter with a strong impression

I am applying for the position of Social Media Manager as a recent graduate with a double degree in Marketing and Media, specialising in communications and digital media. I have been following XYZ Pty Ltd’s social media for some time and believe I can improve the reach of your social platforms and achieve the engagement you aspire to. I have a passion for connecting people with products and elevating digital media platforms.

[Topic sentence/s]

This role interests me because of the company’s work with nonprofit organisations and efforts toward combating climate change I have a personal interest in protecting the environment that stems from my volunteer work with Greenpeace Southeast Asia during my gap year and sparked a realisation of the extent that global corporations have negatively impacted the communities at large [Expansion sentence/s]

In my current role as Marketing Assistant for ABC Pty Ltd I monitor the Instagram and TikTok pages for the company and initiate post ideas to advertise for new campaign releases. I have achieved this by building relationships with influencers and developing content relevant to the social landscape and current events [Evidence sentence/s]

During my time at JKL Pty Ltd as an intern, I led a team that was successful in increasing SEO results by 14% from 2020 to 2021 and growing the company’s collective Instagram and Facebook following by 32%. I guided the development of 15 email campaigns from conception to execution in a team of 5 members

[Link to position/company]

I believe I can help the company promote the offsetting of its carbon emissions and further bolster its reputation as a climate change activist.

[Transition sentence/s]

I would enjoy the opportunity to discuss this position with you further, and demonstrate how I could use my skills to benefit your company.

[Closing statements]

I believe my knowledge and experience have equipped me with the tools to add substantial value to your team and contribute to the success of future campaigns Thank you for considering my application and I look forward to hearing from you.

Yours Sincerely, Jane Smith

PSYCHOMETRIC TESTING

Arnav Gandhi

What is Psychometric Testing?

Great news! You have submitted a great application and your employer has invited you to a series of psychometric tests Do not fret! Whilst the name of these tests sounds daunting, it is not as technical and challenging as it seems. Here is a basic overview of what psychometric testing is and some tips from fellow ASA members

Psychometric tests are a set of standard tests that evaluate your behavioural traits and cognitive aptitude. They aim to match a candidate’s intellectual ability and personality with what is required for the applicant’s role For example, the role of a forensic accountant and a HR manager do not require the same strengths and weaknesses! These tests give the employer insight into your behaviour that may not come across in your resume or interview

There are two broad categories of psychometric tests

The first category is behavioural where you will respond to a statement about a situation or a personality trait that you have. For example, a typical behavioural question is: Do you love meeting new people? You will be given the options of agree, disagree or neutral Little preparation can be done here so just answer the questions honestly. However, we recommend straying away from selecting neutral too often as this may translate as you being indecisive or afraid to reveal your true personality.

The second category is aptitude based. These tests involve performing quick, logical puzzles, finding the next correct shape in a sequence of shapes, verbal reasoning or performing pattern recognition.

Aisha Jalal, the 2022/23 President of ASA, underwent a series of psychometric tests as part of her interview process for her internship. She notes that unlike a personality test, there is a right and wrong answer Firms have been known to ask technical questions related to accounting too, which involve financial ratios, reports and statistical analysis However, keep in mind that for more beginner and undergraduate roles, firms are considerate and are open to training you

How do we prepare?

Preparation is the key to success! Psychometric tests are often nerve wracking but there are ways to excel. Kevin Tran, the former Vice President of ASA during 2021/22, focused on completing the general ability questions first during his psychometric testing Whilst these questions can be challenging, his strategy was to practice for these types of questions ahead of time so it was less confronting We also recommend for you to brush up on your accounting knowledge such as reading financial statements and ratio analysis so you can knock out any technical questions

Be calm and engaged during your psychometric testing Drink water, eat beforehand and if the test is online, perform the test in a comfortable and quiet environment. Be present in the moment and only focus on your strategies when answering questions, rather than worrying about your results

Congratulations! You are now equipped with some practical tips that will help you get one step closer to your dream internship or graduate role! Remember that psychometric testing is a standard procedure used to evaluate you before your interview This is only one consideration employers will take into account when assessing you

INTERVIEW SKILLS

Michael Tran and Adam Talbot

“Failure to prepare is preparing to fail”

Interviews can present very intimidating experiences, but through continual preparation and practice, anyone can adopt a successful mindset to overcome these concerns But what should we prepare for, and how should we do it? Unfortunately, there is no special formula to acing any job interview you will ever encounter, however, there are numerous ways you can prepare for any current interviews

Study your CV

From an interviewer’s perspective, a CV is your sales pitch. You are attempting to sell yourself to the interviewer by presenting all of the qualities and skills that make you valuable Recruiters are likely to inquire further into certain sections of a CV during interviews, in order to gauge how likely an interviewee fits the ideal candidate the business is looking for Employers can distinguish between improvised and genuine responses given by an applicant, hence, preparing holistic responses to potential questions concerning your CV is extremely beneficial

Research Company and Job Requirements

It goes without saying that researching into the company you are applying for is one of the best ways to not only prepare for an interview, but also provide insight into the company’s culture Typically, interviewers like to ask candidates what they know about their company; while it is expected that not every aspect can be ascertained through research alone, interviewers appreciate those who are proactive and curious about their potential employer This skill, like the others mentioned in this article, will enhance your chances of passing the interview stage

Practice and Prepare Responses

In addition to questions about the company, recruiters will likely refer to a question bank when interviewing applicants to best perceive where a candidate would fit into their organisational structure. Companies will typically require applicants to answer both general interview questions and industry or position specific questions. Therefore, it is crucial that a candidate has not only prepared answers to standard questions, but has researched into common industry related questions often asked by recruiters. While it is important to be prepared for any question, it is arguably more important for interviewees to demonstrate their qualities and values within their answers to align with the company’s culture

An example of this could be when an applicant is applying for a systems developer position The applicant may take up chess as a hobby and could emphasise how methodical and solution oriented they are.

Ask Them Questions

Asking questions may not seem like an important aspect but it demonstrates active listening Employers like to hire candidates who show a genuine interest for the role and the company. Pay close attention to the questions being asked during the course of your interview so that when the time comes to ask questions, you can show your ambition and keenness by relating your queries back to previous questions asked by the interview

First Impressions

First impressions are a fundamental attribute in determining whether or not you advance past the interview stage As this will be the first touchpoint for two way communication between you and the interviewer(s), it is imperative that you set the impression of a candidate that they would hire Something easy to remember when thinking about first impressions is: if I was in their position, what sort of candidate would I be looking for?

Recommendations

The following are strongly recommended for making the right first impression:

If it is a corporate job, wear business attire, for any other type of job, dress smart casual Act politely, your demeanour should be that of talking with a friend in a professional setting

Maintain eye contact, smile, and keep an open body posture.

If the interview is a virtual interview, test your equipment beforehand to avoid running into technical issues

The best attitude to have for an interview is the confidence of knowing you are well prepared.

LINKEDIN JOB SEARCH

Siddharth Tatikonda and Jayashini Muputugala

LinkedIn offers the features of a search engine tool, tailored for finding professional relationships and job opportunities. The LinkedIn Job Search allows you to scan for recruiters within your industry or your dream company, connect with recruiters and be notified about new job postings related to them These make it a multifaceted tool that tailors the job seeker’s experience to their exact needs. LinkedIn also has a recommendation feature which provides meaningful recommendations based on your previous job search history, allowing you to seek out other exciting potential job offers.

Another great feature is the ability for recruiters to find potential employees. Whilst LinkedIn can function like a job board, it also acts like a hiring board, providing recruiters the opportunity to seek out potential employees through keyword search. Make sure you use essential keywords within your profile or set up your skills section to ensure recruiters can find you

LinkedIn provides a job searching advantage better than every other platform, the ability to research companies and their employees. Recruiting managers are nothing but a button way to put yourself out there with a connection or introductory message. The platform also allows you to see university alumni and mutual connections allowing you to learn more about companies and roles from those with firsthand experience.

STORY TELLING

Thrisha Ramesh and Keanna Lau

Storytelling

is an important aspect of interviews, especially behaviour based questions asked at interviews Behavioural questions set the stage for one to showcase their skills, which needs to be backed up by evidence, which in this case will be short anecdotes that ‘show’ your skills and not just ‘tell’ them. The STAR method, which refers to Situation, Task, Action, and Result, can be utilised to succinctly express your strengths and weaknesses

Sample STAR Answer

Question: Tell me about a time when you had too many things to do and were required to prioritize your tasks.

Situation: During my internship experience with an accounting firm, I was responsible for completing three big projects within a limited time of 2 weeks.

Situation

Describe the situation or the task that you were required to complete Give an example of a specific situation, rather than a generalised situation that lacks personalisation Make sure to give enough details so that the interviewers can comprehend the situation. This can be a situation from your university, volunteering or previous work experiences

Task

A goal that you needed to attain.

Task: To finish three projects in 2 weeks, I had to organise and manage my time well.

Action: I drew up a detailed schedule that allowed me to delegate my time for the different projects and made daily to do lists that guided me and allowed me to keep track of the time.

Result: Due to my efficient time management skills, I managed to successfully complete the three projects well and ahead of schedule

Action Result

What were the actions you took to attain the goal? What was your specific contribution to the process of reaching the goal? Try your best to use “I” instead of saying “we”

What was the result of your contribution? Was the goal attained successfully, if yes and no, why and how? What did you learn from the situation? Try your best to answer the question with positive experiences, but note that as long as you explain negative situations well and be specific about your takeaways, they can also express your skills well.

Additional Tips

In addition to employing the STAR method, some further tips when using storytelling to approach an interview question include:

Tell your story in a chronological manner, consisting of the beginning, middle and end Ask yourself whether the information is relevant or significant to answering the question.

The middle of your story should describe important details, the challenges you faced, the impact on people and any profound feelings you experienced.

At the end of your story, you should state the conclusion you came to, the issue you resolved, and the emotions you felt

Write your story here...

INTERVIEW WITH GRANT THORNTONMax Dalsanto

A riveting interview with another Macquarie University alumni, Max Dalsanto, walks us through a day in the life at Grant Thornton and how to navigate the corporate world.

Tell us about yourself.

Max Dalsanto is a 23 year old Macquarie University graduate currently employed at Grant Thornton as a Global Trade Advisory Associate. He is a social and outgoing person who thrives in busy environments Max also enjoys fitness and working on his mental health and well being He is driven and motivated to work hard in all aspects of his life, whilst also uplifting others in achieving their goals

What drew you into the field you currently work in?

As an Economics and International Business major, working in an internationally recognised company was pivotal to Max’s career plan The Global Trade division of the Tax team at Grant Thornton has allowed Max to work with international clients and gain insight into contemporary economic issues faced in the erratic marketplace Additionally, his interest and career in foreign and domestic markets have been shaped by his family Given that the majority of his family are entrepreneurs within the fashion industry who rely heavily on foreign countries to manufacture goods, Max has observed how importing and exporting goods can be imperative for success.

What does a typical day of work look like in terms of your roles and responsibilities?

The day commences with meetings with coworkers to discuss client work along with replying to emails or invites A perk of the Global Trade team is that the majority of client meetings are in person, which can give you the opportunity to travel quite often, both within your city and interstate The lead up to lunchtime involves sourcing client data from respected entities, such as the Australian Border Force, analysing the data through Excel or Alteryx, and formatting it into tables and graphs for the client Post lunch, the day consists of meetings and completing client work, such as duty drawbacks, refund submissions, requests for information (RFIs), and formulating presentations for future meetings

What advice would you give to someone interested in Global Trade and Advisory or Transfer Pricing?

The Global Trade market is always evolving with the introduction of new technologies in the marketplace “The advice I would give would be to keep up to date with the changing market and develop your technical skills as they will become increasingly vital in the future workplace ”

You have worked at Grant Thornton for almost a year. Have you ever dealt with imposter syndrome? If so, how did you go about combatting it?

Throughout his time at Grant Thornton, Max has dealt with only one incident of imposter syndrome when nearing the end of his probation During this period, it can become instinct to overthink your position and the work you have achieved. Max responded by working diligently every day, pushing himself to succeed and hit all of his necessary targets.

“Overcoming this imposter syndrome was realising how much I had achieved for myself and for my team which was further expressed by my colleague in my probationary meeting”

What do you appreciate about Grant Thornton's work culture that sets it apart from your competitors?

The culture at Grant Thornton is collaborative, supportive and friendly. “Our people are approachable and always willing to assist you with any questions you may have.”

Grant Thornton organises a number of events through internal committees, as well as monthly office events including lunches, dinners, Thursday/Friday drinks, end of financial year balls, and many more

Max also values Grant Thornton’s hybrid working approach; a blend of working in the office, at the client’s office, or at home This enables all employees the flexibility to manage their work schedule, and it fosters productivity and well being.

Tell us something interesting about either your firm that you think most people don't know but should know.

Grant Thornton will be supporting The Last Great First an epic 110 day expedition that is many things a history making, incredible undertaking that pushes the boundaries of what’s possible, an initiative that supports the community to collect data for climate scientists

Could you tell us some qualities and skills, both soft and hard, that make a potential candidate stand out?

Some potential skills that will make you stand out include good communication, collaboration, leadership, problem solving and interpersonal skills Basic Excel skills are always good to have but not essential the team will teach you how to use Excel

What is one hot tip you would give for upcoming vacationers and graduates. for interviews?

Some of the most important soft skills university students should be able to showcase are teamwork, communication, collaboration, time management, prioritisation and conflict management. After all, we are people working with people. Good grades are important but equally important is to show we are a balanced individual.

grantthornton com au/ careers/student opportunities/

SNAPSHOT INTO

ACCOUNTING

COMMON MISCONCEPTIONS IN ACCOUNTING

Myuri Kuganathan

What have you heard about accounting? That you will be crunching numbers alone at an office desk day in, day out?

The accounting profession has been commonly maligned as a rigid and boring career path for university graduates This is a misrepresentation of the profession as these misconceptions are often created out of a few negative experiences. This article will clear up a few of the most common myths about accounting

1. You need to be a maths genius!

This is one of the biggest misconceptions about the accounting profession. It is commonly assumed by many students that they will need to understand mathematical concepts and formulas behind accounting transactions this is far from the truth! In reality, accounting involves basic maths and this is becoming less essential with automated processes (e g accounting softwares such as Xero automatically calculate the tax liability when accountants prepare tax returns) Problem solving skills such as analysis and investigation are more essential to accountants.

2. Accounting = Bookkeeping

These two terms have been used interchangeably as they both involve financial data However, they are not the same! Bookkeeping is the process of recording all accounting transactions of a business, whereas accounting holistically covers the interpretation, classification and analysis of past financial records of a business. This data is then presented to business owners and investors who can make forecasts about the future of the business

3. Accountants sit at their desks and crunch numbers

This is not accurate at all! In the age of digital technology and automated processes, the role of accountants has shifted away from bookkeeping to providing advisory services. On any given day, accountants can be found attending client meetings, travelling to client offices, producing financial reports or sitting in on discussions on how to improve the services of the business. Whilst bookkeeping and interpreting financial data can be part of the job, accountants are certainly not sitting at their desks all day.

4. Technology innovation is a threat to accountants

It is no surprise that digital technologies have begun automating many processes in accounting to increase efficiency However, this will not make the profession obsolete! In fact, these technologies have freed up a lot of time for accountants Mundane tasks such as manually processing invoices for the accounts payable process have now been automated by accounting tools, such as Dext which can process source documents and upload them to your accounting system. This free time is now being used by accounts to offer consulting and advisory services to their clients such as how clients can minimise their tax liability

5. Accounting is boring

Accounting goes beyond traditional data entry and running financial statements. It is a dynamic profession that is constantly adapting to changes such as updates in legislation and regulations, the economy and technological developments. Accountants are kept on their toes as they need to adapt and solve client problems by interpreting financial data. You won’t necessarily be stuck at a desk job you could be a forensic accountant, contributing to a corporation’s cybersecurity systems or travelling globally to help international clients comply with international tax legislation!

TECHNOLOGICAL TRENDS IN THE ACCOUNTING INDUSTRY

Joylynn Taylor

The accounting profession is rapidly developing as technology continues to evolve and transform at an accelerated level. The unprecedented nature of new technological trends leads us to question how the role of accountants will change in the future?

Blockchain

Blockchain is a computer database of transactions that are linked together and validated by multiple third parties. The information is not controlled by one single person and is not stored in a central location, but it can be accessed by anyone from anywhere, making it a smarter way to securely store data. One advantage of blockchain for accountants is more efficient auditing, as it relies on independent verification by participants on the network. Blockchain technology enhances the visibility of transactions, eradicating normal inconsistencies that come with traditional external auditing.

Blockchain also negates the need for the journal entry system by allowing transactions to be directly written in a joint register that is securely protected yet still publicly accessible. One of the most notable advantages is the enhanced verification process - blockchains use unique cryptographic hash keys when entering transactions into standardised joint registers. This helps auditors work through records more quickly and streamlines the process whilst improving the transparency of verifications. Each transaction can be verified by authorised people on the blockchain, which increases traceability.

Automation, Robotics and AI

Automation technology will minimise the requirement for human assistance in tedious administration tasks like filing invoices and scheduling meetings. Currently, only 29% of automated technology is implemented in the accounting environment (Djurovic 2021). Robotics process automation sounds daunting but is essentially software robots that complete time-consuming work more efficiently. This will save accountants time on administrative tasks, allowing them to attend to more engaging responsibilities and focus on providing advisory services to their clients.

Another benefit of this technology is it can help businesses increase their operational efficiency by up to 80% by the financial year (Fogden, 2022). The introduction of robotics also eliminates the margin for human error. This is supported by Thilo Huellmann, CTO of AI company Levity, stating that, “Artificial intelligence and robotics are reducing operational costs and increasing performance by automating complex and repetitive tasks and procedures with extreme precision. These are some of the new technologies that are assisting today’s accountants in transitioning to a more critical thinking role.”

Cloud Computing

Whilst there are many potential benefits for automation projects, a caveat is that it is costly and is more beneficial for larger corporations.

The coronavirus pandemic heralded with it the widespread transition to remote working and this trend is not leaving any time soon. This agile accounting style has become more popular with 54% of CFOs planning to keep remote working as a permanent option for firms (PwC 2020). With cloud-based computer systems, accountants can work on confidential client information anywhere without the need for a hard drive. It has transformed the storage and accessibility of data by providing an unconfined flow of information from any device. Already 66% of companies have a central cloud team to safely store data (Fogden 2022). One of its main advantages is the reduced risk of theft, loss or damage. The main players in cloud services are Amazon, Google and Microsoft which provide scalable systems and software such as Xero to access the information when and where it is required. Cloud-based accounting technology requires a subscription to access data and use the tools and software available, with a wide range of options to choose from.

INTERVIEW WITH SW ACCOUNTANTS & ADVISORS Pia Deng

A compelling conversation with a recent graduate from Macquarie University, Pia Deng, explores some of her experiences at SW and shares some of her insightful tips for those looking to enter the workforce.

Tell us about yourself

Pia Deng holds a Bachelor’s degree in Commerce, majoring in Accounting Since graduating, she has been employed as a Consultant at SW Accountants & Advisors and is currently undertaking the CA program

What does a typical day of work look like in terms of your roles and responsibilities as a consultant?

Typically, Pia’s role is dependent on the clients she is working for and the type of engagements these clients are dealing with As most of her clients occupy different industries, every day is different and has the potential to generate something completely new Teamwork is another crucial aspect of the role. Picking up where others have left off is quite common This encourages greater cooperation and communication between colleagues

Have you noticed any trends developing within your field?

For Pia, many trends which have developed during her time with SW have risen through the impact of COVID 19. This has caused many businesses to reshape their business models and how they conduct their work For her role as a consultant, Pia has noticed that clients place greater significance on ensuring they are happy with their financial positions and ensuring no misstatements arise when conducting her work

Have you ever dealt with imposter syndrome during your time at SW? If so, what do you believe is the best way to approach a situation where you feel out of your depth?

Pia briefly experienced feelings of imposter syndrome at the beginning of her employment with SW, however, there were many factors that promptly extinguished these concerns. During her early days with the company, Pia’s colleagues were all very sociable, kind, and welcoming, a trait that stands strong today Pia stated she had not interacted with a single employee at the firm that she did not get along with easily Additionally, the firm holds regular social events, making it easier to network with colleagues in a more social setting.

How do you believe that your firm sets itself apart from its competitors in terms of work culture?

“The firm puts a lot of effort into its people Having worked at a smaller firm and Westpac previously, I can definitely say that SW puts its money where its mouth is ”

Pia recounted that during her induction stage, she and the other recruits at the time were not able to meet due to various circumstances. However, the firm decided to fly Pia and her colleagues out to Melbourne for their training to compensate for these circumstances On top of this, employees are given extra benefits including extra days off during public holidays

“The entire firm supports its people rather than just the team. They are very accommodating and flexible towards the needs of their employees ”

What are some of the most notable qualities or skills that make candidates stand out in the recruitment process?

Suitable candidates present their authentic and genuine selves within the interview process Employers expect that even some qualified individuals would not immediately excel in the role offered by the business While many applicants may meet the academic requirements, recruiters are likely to favour candidates who showcase their drive and eagerness to meet the standards expected of them Taking the initiative to learn not only increases your employer’s belief in your abilities but will significantly improve your ability to perform your work in the long term What one hot interview tip would you give to graduates and those looking for vocational work?

“Interviews are tough but it’s all about selling yourself They already have access to your resume so you need to bring the attitude that will help differentiate you from the other candidates everyone has a resume but not everyone has the attitude.”

While recruiters will have specific questions catered to the position and even generally to the applicant, presenting your best self will benefit you in any interview you go for.