Baywater Guides / Ultimate Guide to Becoming an Accountant
Ultimate Guide to Becoming an Accountant
Learn how to become an accountant in Australia. Discover practical tips, compare differences to the CA, CFA, and IPA, and explore qualifications and common corresponding job titles that can be achieved.
Written by Joseph Doyle
Last updated 25 February 2025
Contents
Overview
Are you a current or prospective accounting student looking to build a successful career in the dynamic world of finance? This in-depth guide explores the various pathways available - from vocational courses to advanced degrees - and explains how the choice of governing body can shape your career trajectory to be a certified practising accountant. We'll cover the minimum qualifications for each of Australia’s major accounting bodies, delve into potential salaries and job titles at each education level, and provide tips on choosing the best pathway to achieve your goals in the accounting and finance profession.
1. Understanding the Major Accounting Governing Bodies
In Australia, your career prospects can change significantly depending on the professional accounting credentials you are rewarded. There are three primary bodies: the CPA, CA, and IPA, each with its own entry requirements, rigorous training programs, and unique career prospects. Here’s what you need to know:
1.1. CPA Australia
The CPA program, offered by CPA Australia, is a comprehensive professional pathway designed to develop advanced technical, ethical, and professional competence in strategic skills in accounting. Candidates must have an accredited bachelor’s degree in accounting or a related field before they can enroll. The program requires successful completion of a series of rigorous examinations and the accumulation of a minimum of three years of relevant work experience. Typically, the program takes about 18 to 24 months to complete on a full-time basis, although the duration may vary for part-time study. The CPA designation is highly respected and internationally recognised, opening doors to senior roles in corporate finance, auditing, taxation, and strategic advisory positions.
| Key Facts | Description |
|---|---|
| Salary Range | CPA-qualified professionals can expect starting salaries around AU$70,000, with experienced professionals earning upwards of AU$120,000 annually. |
| Job Titles | Early Career: Graduate Accountant, Junior Accountant, Mid-Level: Staff Accountant, Financial Accountant, Senior Level: Senior Accountant, Finance Manager, Audit Manager, Financial Controller |
| Career Outlook | The CPA designation is highly respected both nationally and internationally. It opens doors to leadership roles in corporate finance, auditing, taxation, and strategic advisory positions. |
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Eligibility Criteria
The CPA program takes 2 - 3 years to complete depending on the individual's pace, workload, and work experience. Upon completion, the following criteria must be met:
| Requirements | Description |
|---|---|
| Academic Requirement | An accredited bachelor’s degree in accounting or a related discipline. |
| Experience | A minimum of three years of relevant work experience is required to qualify for full membership |
For more information, please visit the CPA website.
1.2. Chartered Accountants Australia and New Zealand (CA ANZ)
The Chartered Accountants (CA) program, offered by Chartered Accountants Australia and New Zealand (CA ANZ), is a rigorous and comprehensive pathway designed to develop high-level accounting professionals. It requires candidates to hold an accredited undergraduate degree in accounting or a related field, complete a demanding program with comprehensive examinations and ethical training, and gain a minimum of three years of supervised practical experience. Typically, the CA program takes about 2 to 3 years to complete on a full-time basis. With its strong focus on technical proficiency, ethical standards, and practical experience, the CA designation is highly respected and opens the door to senior roles in corporate governance, strategic management, and executive leadership.
| Key Facts | Description |
|---|---|
| Salary Range | Starting salaries typically range from AU$65,000 to AU$90,000, with senior roles reaching AU$150,000 or more. |
| Job Titles | Early Career: Graduate Accountant, Audit Assistant, Mid-Level: Assurance Associate, Management Accountant, Senior Level: Senior Auditor, Finance Director, Chief Financial Officer (CFO) |
| Career Outlook | The CA ANZ designation is a mark of excellence, highly valued in corporate governance, strategic management, and high-profile financial roles. |
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Eligibility Criteria
The CA program also takes 2 - 3 years to complete depending on the individual's pace, workload, and work experience. Upon completion, the following criteria must be met:
| Requirement | Description |
|---|---|
| Academic Requirement | An accredited undergraduate degree in accounting or a related field. |
| Professional Program | Completion of the CA Program involving comprehensive examinations and strict ethical training. |
| Experience | At least three years of supervised practical experience are required. |
1.3. Institute of Public Accountants (IPA)
The IPA (Institute of Public Accountants) program offers a flexible pathway into the accounting profession. It caters to candidates entering with either an accredited degree or a relevant vocational qualification and emphasizes practical, hands-on skills. While it might not have the same international recognition as CPA Australia or CA ANZ, the IPA is well-regarded in public practice and SME environments, making it an accessible and practical route into accounting.
| Key Facts | Description |
|---|---|
| Salary Range | IPA-qualified accountants typically earn starting salaries between AU$55,000 and AU$80,000, with growth potential as experience increases. |
| Job Titles | Early Career: Accounting Assistant, Bookkeeper, Mid-Level: Junior Accountant, Financial Administrator, Senior Level: Senior Accountant, Accounting Manager, Practice Manager |
| Career Outlook | IPA is well-regarded in public practice and SME environments, offering a flexible and practical pathway into the accounting profession. |
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Eligibility Criteria
The IPA program can typically be completed in 2 years on a part-time basis while working, or 1 year on a full-time basis. However, the exact duration can vary based on your prior qualifications, work experience, and study mode. Upon completion, the following criteria must be met:
| Requirement | Description |
|---|---|
| Academic Requirement | An accredited degree or vocational accounting qualification (e.g., Diploma of Accounting) can be used for entry. |
| Professional Pathway | Completion of the relevant IPA qualification pathway with an emphasis on practical skills. |
| Experience | Relevant work experience is required to progress within the IPA framework. |
2. Educational Pathways in Accounting
Choosing the right educational pathway is crucial for meeting professional standards and achieving your career goals. Here’s an in-depth look at each pathway, along with their potential salaries and job titles:
2.1. Certificate IV in Accounting
Certificate IV in Accounting is an entry-level qualification designed for individuals who are new to the field or looking to quickly transition into an accounting role. This course focuses on essential bookkeeping skills, basic accounting practices, and the use of standard accounting software. It is typically completed within 6 to 12 months, preparing students for roles such as bookkeeper, accounts clerk, or accounting assistant. This qualification provides the foundational knowledge needed to begin a career in accounting and serves as a stepping stone for further study.
Licenses students qualify for:
- BAS Agent Registration
| Certificate IV Key Facts | Description |
|---|---|
| Duration | Typically 6–12 months |
| Salary Range | AU$40,000 to AU$55,000 |
| Job Titles | Bookkeeper, Accounts Clerk, Accounting Assistant |
| Overview | Provides foundational skills for quick entry into the accounting industry and support roles. |
| Min. Qualifications | No prior formal qualifications are necessary, making it ideal for newcomers or those looking to switch careers quickly. |
Career Pathway: Certificate IV serves as a stepping stone into the accounting industry, ideal for those who wish to gain quick entry into support roles and later build on their qualifications.
What You Learn: Core modules cover essential bookkeeping, basic accounting practices, and the use of common accounting software. Courses typically emphasize hands-on training and practical applications.
The Certificate IV in Accounting and Bookkeeping is one of the accounting courses offered by Baywater Institute, learn more today.
2.2. Diploma of Accounting
The Diploma of Accounting builds on the skills acquired in a Certificate IV course and offers a more comprehensive and practical education in accounting. This qualification covers areas such as financial reporting, taxation, and analysis, and typically takes 1 to 2 years to complete. It is designed to equip students with the knowledge and skills required for entry-level accounting positions, such as junior accountant, while also providing a pathway to further studies or professional certifications. Graduates of a Diploma of Accounting are well-prepared to handle the practical demands of the workplace.
Licenses students qualify for:
- Potential License: BAS Agent Registration (provided the program includes the necessary TPB‐approved taxation and commercial law subjects)
| Diploma of Accounting Key Facts | Description |
|---|---|
| Duration | 1–2 years |
| Salary Range | AU$50,000 to AU$65,000 |
| Job Titles | Junior Accountant, Bookkeeper, Accounting Assistant |
| Overview | Offers comprehensive practical training in financial reporting, taxation, and analysis; acts as a stepping stone to further study. |
The Diploma in Accounting is one of the accounting courses offered by Baywater Institute, learn more today.
2.3. Undergraduate Degrees (Bachelor’s)
An undergraduate degree in accounting or commerce offers a comprehensive education that covers a wide range of topics including accounting principles, taxation, auditing, financial operations, financial planning and management, and business law. This degree usually spans 3 to 4 years and is essential for those aiming to join professional accounting bodies such as CPA Australia or CA ANZ. Graduates of an undergraduate program are equipped with both theoretical knowledge and practical skills, making them eligible for a variety of roles including graduate accountant, staff accountant, or accounting analyst. This qualification lays the groundwork for a successful and versatile career in accounting.
Licenses students qualify for:
- Registered Tax Agent (if the degree curriculum includes the accredited subjects in taxation law and commercial law as required by the Tax Practitioners Board)
- BAS Agent Registration (with the appropriate practical experience)
- Note: A bachelor’s degree is widely recognized as the standard pathway for meeting professional and licensing requirements in accounting.
| Undergraduate Degree (Bachelor’s) Key Facts | Description |
|---|---|
| Duration | 3–4 years |
| Salary Range | AU$55,000 to AU$75,000 for fresh graduates |
| Job Titles | Graduate Accountant, Staff Accountant, Accounting Analyst, Financial Accountant |
| Overview | Provides a broad and comprehensive education, serving as the foundation for professional certification and advanced career roles. |
2.4. Graduate Degrees (Master’s)
Postgraduate qualifications in accounting are advanced degrees intended for students who have already completed an undergraduate program. Typically taking 1 to 2 years to complete, a master’s degree offers specialized knowledge in areas such as forensic accounting, corporate finance, and strategic management. This advanced study not only deepens technical expertise but also enhances leadership and analytical skills. Graduates are well-positioned to move into senior roles such as senior accountant, audit manager, or finance manager, and often enjoy higher starting salaries and greater opportunities for career advancement.
Licenses students qualify for:
- Registered Tax Agent (especially if the program specializes in taxation and meets TPB educational standards)
- BAS Agent Registration (when supplemented with the required practical experience)
- Note: A master’s degree offers advanced specialization, making it well-suited for those pursuing higher-level professional licenses.
| Graduate Degree (Master’s) Key Facts | Description |
|---|---|
| Duration | 1–2 years post-undergraduate |
| Salary Range | AU$70,000 to AU$100,000 initially, with further growth as you progress into senior roles |
| Job Titles | Senior Accountant, Financial Analyst, Management Accountant, Audit Manager, Finance Manager, Business Analyst |
| Overview | Offers advanced knowledge and specialization to accelerate career progression and qualify for senior-level positions. |
3. Making Your Decision: Which Pathway Is Right for You?
When planning your accounting career in Australia, consider the following factors:
1. Career Goals
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Are you aiming for a quick entry into the workforce, do you plan to climb the corporate ladder into senior management roles, or do you want to upskill to manage your own business?
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If you envision leadership roles in the world's largest accounting bodies or corporations, an undergraduate degree followed by professional certification (e.g., CPA or CA ANZ) is recommended.
2. Time & Financial Investment
- Short-term courses like Certificate IV or Diploma of Accounting offer a faster and more affordable route into entry-level positions.
- University degrees require a longer time commitment and higher tuition fees, but they open up more advanced career opportunities.
3. Flexibility & Learning Style
- Vocational qualifications are highly practical and often more flexible, allowing you to work while studying accountanting.
- University programs typically offer a balance of theory and practice, with opportunities for internships and networking.
4. Industry Trends in Australia
- Australia’s job market for accountants is competitive and dynamic. Employers value qualifications that are recognized by major professional bodies, so aligning your education with bodies like CPA Australia or CA ANZ can significantly boost your career prospects.
Conclusion
Becoming an accountant in Australia is a journey that involves careful planning and informed decision-making. Whether you’re just starting with a Certificate IV, advancing through a Diploma, or committing to a comprehensive undergraduate or graduate degree, each educational pathway offers unique benefits and career opportunities. Additionally, your choice of governing body—be it CPA Australia, CA ANZ, or IPA—will not only shape your professional qualifications but also influence your potential salary and job titles.
By understanding the minimum qualifications required, the detailed curriculum of each pathway, and the career prospects available, you can tailor your educational journey to match your professional goals. As the accounting landscape in Australia continues to evolve, a well-planned strategy will set you on the path to be a successful accountant, and ensure continuing professional development.
Happy studying, and best of luck on your journey to becoming a standout accountant in Australia!