Manufacturing businesses large and small need to constantly monitor, and improve, their financial situation. Accountants analyse, report and give advice on the financial dealings of an organisation, and advise on associated record-keeping and compliance requirements.
Accountants may…
assist in the formulation of budgetary and accounting policies
prepare financial statements for presentation to boards of directors, management, shareholders, and statutory bodies
conduct financial investigations, undertake audits, prepare reports, and advise on such matters as the purchase and sale of businesses, mergers, capital financing, suspected fraud, insolvency and taxation
examine operating costs and income and expenditure
provide assurance about the accuracy of information contained in financial reports and their compliance with statutory requirements
provide financial and taxation advice on business structures, plans and operations
liaise with bankers and brokers to establish funds management arrangements
advise on the selection and application of computer-based accounting systems
appraise cash flow and financial risk of capital investment
An accountant may specialise as an-a…
Auditor who makes sure that financial statements are accurate by checking that assets and liabilities mentioned in reports really exist, analysing samples of work done and interviewing staff about the way they go about their work.
Budget Accountant who is primarily concerned with the development and maintenance of budgeting systems. This involves monitoring budgets and comparing them with actual costs and revenues related to production, marketing and capital. They analyse records to determine trends, which assists in managerial control.
Finance Manager who prepares reports for management, summarising the business's financial position in areas of income, expenses, capital usage and cash flows, and assists with the preparation of strategic plans, budgets and financial forecasts. Finance managers also work out funds requirements and strategies to invest surpluses. They also develop accounting and management policies and procedures.
Investment Analyst who evaluates the worth of companies for potential buyers and investors, and investigates businesses being sold, bought or merged.
Cost Accountant who develops and directs systems so that costs can be recorded and analysed to work out each unit cost. This involves analysing changes that affect production costs (e.g. raw materials, manufacturing methods, factory overheads and wages). They provide management with reports to assist in decision-making about production volumes, sale prices and additions or deletions to product lines and-or manufacturing or distribution resources.
Systems Accountant who analyses financial information needs for organisations by reviewing existing systems and working out the best way to meet those needs with the design of new systems.
Taxation Consultant-Taxation Agent who prepares taxation returns and reports, provides advice on tax issues and handles disputes with taxation authorities.
Personal Requirements
You should
possess good communication skills
possess strong mathematical skills
have computer aptitude
have good presentation skills
be able to build rapport with people
be able to analyse and solve problems
possess good organisational skills
have discretion when dealing with confidential information
be professional and ethical
Environment
Accountants will work primarily in an office however they may be required to occasionally attend meetings on site. Accountants may be employed directly by a manufacturing business, work for themselves, or in partnerships with other accountants. Some positions involve travel, interstate and - or overseas.
Training
To become an accountant you usually have to complete an Advanced Diploma in Accounting. However, entry to this occupation may be improved if you have a Degree.
Graduates may qualify for entry to the Institute of Chartered Accountants in Australia (ICAA), CPA Australia, and the National Institute of Accountants (NIA).
Of course, with experience, and possibly further training, you can continue to progress further along a career pathway that could see you in a number of senior management positions.
For detailed information about earnings, job and employment prospects for this occupation, go to the Australian JobSearch Careers page and click on Job Outlook .
Printed Resources
The INFOSHEET PDFs provide information about the Manufacturing Industry and its various sectors and occupations. To view and print these documents click RESOURCES (you will need to have Adobe Reader ® installed).
Where Can I Go From This Job?
To find out more about potential Manufacturing career possibilities click PATHWAYS.
