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    Corporate Accounting

    Introduction

    Job advertisements present the ground for the interaction of prospective job applicants and employers. This tool acts as a signal for the job applicants and allows them to reach out to employers for employment purposes. The signals are thus based on various subjects like the requirements of the organisations, and their related responsibilities. These are matched with the personal qualifications of the applicants and the skills possessed by the applicants. This assignment has focused on various job applicants and has also highlighted the roles of that corporate accountant of Australia based companies. This is linked with the theoretical dimensions of corporate accounting and its importance in the practical world.

    1. Total collected job advertisements and referred sources

     

     

    Websites

    Number of Job advertisements

    Seek

    6

    Indeed

    6

    Jora

    3

    all jobs

    2

    Total Jobs advertisements collection 

    17

    Table 1: Total job advertisements

    (Source: Seek.com.au, 2019)

    2. Organisations names and industry breakdown

     

    Companies’ names

    Industry

    Torque Recruitment Group

    Recruitment Company

    Toyota Tsusho South Pacific Holdings Pty Ltd

    Automotive Industry

    Aristocrat Technologies

    Manufacturing

    Dinan Moore

    Consulting and Recruitment

    Moir Group

    Accounting Services

    Doyle Executive

    Consulting and Financial Services

    Konnexus

    Retail

    Hays Accountancy and Finance

    Finance and Accounting

    2xm

    Engineering and Project management

    Pepper

    Food and Beverage

    Minjar Gold

    Mining

    Dassault Systemes

    IT and Trading

    FutureYou

    Advisory

    Jewish Care Australia

    Health care

    Reo Group

    Management Consulting

    Anglo American

    Export and Mining

    Chandler Macleod

    Consulting Services

    Table 2: List of the companies and the industry Breakdown

    (Source: Seek.com.au, 2019) 

    3. Job titles collected

     

    Serial Number

    Job titles

    1

    Tax Accountant

    2

    Tax Accountant

    3

    Senior Tax Accountant

    4

    Tax Service and Senior Business Services

    5

    Corporate Accountant

    6

    Corporate Management Accountant

    7

    Senior Corporate Accountant

    8

    Management Accountant

    9

    Senior Corporate Accountants

    10

    Financial Accountant

    11

    Assistant Accountant

    12

    Financial Accountant

    13

    Business Services & Corporate Finance 

    14

    Finance Assistant Accountant

    15

    Financial Accountant

    16

    Senior Financial Accountant

    17

    Management Accounting and Corporate Accounting

    Table 3: List of the collected job titles

    (Source: au.indeed.com, 2019)

    4. Mentioned Personal Attributes for the Job titles

     

    Job titles

    Tax accountant, Senior Tax Accountant, and Tax Services

    Personal Attributes;

     

    • Accountability Sense
    • An inclination towards business ethics
    • Reliability and the trustworthiness
    • Reliable organisation and good communication skills

    Job titles

    Corporate Management Accountant, Management Accountant, Senior Corporate Accountant

    Personal Attributes;

    • Having work integrity
    • Business interest and capacity to work under pressure and deadlines
    • Reliable and a team player
    • Versatile interpersonal skills
    • Valuing continuous learning

    Job titles

    Financial Accountant, Senior Financial Accountant, Business Service

    Personal Attributes;

    • Ability to work in a team
    • Ability to emphasize on financial details
    • Good accounting and financial knowledge
    • Honesty towards the assigned task and the trustworthiness 
    • Conflict management

    5. Assessment of the listed personal attributes

    Almost all the job titles have focused on the reliability of the applicants for the mentioned posts and their trustworthiness. This is highly regarded among these professions since the companies are keen to avoid any kind of accounting issues. Such accounting issues may arise due to disclosure of the company's financial stature to any third party. However, trustworthiness and reliability make the company's financial standing more defined as per the prevailing market conditions vulnerable. The company has also mandated for the applicants to have great communications skills contributing significantly to the enhancement of professional career. It is necessary because the applicants regularly need to monitor any changes in the financial entities thus acting on the grounds of transparency and objectivity. Reliable communication skills are needed for interacting with the stakeholders thus creating the ground for availing financial resources for the company (Epstein, 2018, p.25). However, the communications skills are not only restricted within the interacting framework with the stakeholders but also can be applied while engaging with the clients’ bases. The accountants have the responsibility to understand the accounting issues faced by the clients. Thus the accountants should be having an eye for finding faults and any kind of discrepancies in the financial and the tax statements. Interest in continuous learning procedures is needed to know any changes in the existing financial rules and regulations (Domino, Wingreen and Blanton, 2015). Thus giving valuation to continuous learning procedures is essential for keeping updated with the new and the recent policy framework. While reporting the statements of taxation the accountants have to resort to conflict management issues between two parties. It will only be possible if the accountants have versatile interpersonal skills. This shed light on the awareness of accounting ethics and an understanding of its working dimensions.

    6. Listing professional and academic qualifications

    Job titles

    Senior Tax Accountant, Tax accountant

    Qualifications

    • Bachelor’s degree in Commerce and Business
    • Having CA or CPA certifications
    • Having exposure to taxation reporting procedures and key taxation structures
    • Proficiency in handling financial accounting statements
    • Sound familiarity with the 
    • 4 to 5 years of relevant working experience
    • Good analytical and problem-solving skills
    • Adept at handling Xero, MYOB, and other finance-related Microsoft tools
    • Ability to meet the expectations of the stakeholders
    • Excellent communication skills and ability to rapport with the clients’ base 

    Job titles

    Financial Accountant, Senior Financial Accountant, Business Service

    Qualifications

    • Relevant tertiary and secondary qualifications, CA and CPA certifications 
    • Proven and prior experience in the accounting field
    • Bachelor’s and Management degree in Business and Commerce
    • 0 to 2 years of experience for Financial accountants band 3-5 years of experience for Senior Financial Accountants
    • Sound technical and computer skills
    • Proficiency in handling accounting software
    • Ability to multitask, management and organisational skills

    Job titles

    Management Accountant, Corporate Management Accountant, Senior Corporate Accountant

    Qualifications

    • CA and CPA certification; ongoing or completed
    • Complete certificates for senior corporate accountants are preferred; Ongoing is accepted for management accountants and corporate management accountants.
    • Minimum Bachelor's Degree in Business and Management (au.jora.com, 2019)
    • 1.5 to 2 years of experience in providing business services and audit services
    • Interacting ability with numerous stakeholders and understanding the requirements of the company’s business activities.
    • Proactive and positive attitudes towards clients

         

    7. Tasks, responsibilities, and roles 

    Job titles

    Senior Financial Accountant, Financial Accountant, and Business Service

    Responsibilities and roles;

    • Monitoring the company’s budget performance besides dealing with cost accuracy
    • Performing accruals, lease reconciliations, calculations related to prepayments
    • Managing the financing function across the company’s range of operations and the activities (au.jora.com, 2019)
    • Budgeting and forecasting
    • Error-free and timely preparation of the financial statements for the clients and the company
    • Assisting in audit preparation
    • Preparing inclusive journals and supporting payable functions
    • Maintaining and ethics within the financial documentation procedures
    • Ensuring completion of the financing processes and project consolidations
    • Ensuring the maintenance of culture in the workplace and employee well-being 

     

    Job titles

    Management Accountant, Corporate Management Accountant, Senior Corporate Accountant

    Responsibilities and roles;

    • Assisting in budget preparation and forecasting techniques 
    • Supporting the month-end financial closing procedures 
    • Reconciliations of the balance sheets
    • Interacting with stakeholders and ensuring their engagements
    • Assisting in audit treasury duties
    • Ability to guide financial team (au.indeed.com, 2019)
    • Ensuring accurate entity valuation and daily financing reporting
    • Liaising with key business partners and engagement with stakeholders

    Job titles

    Senior Tax Accountant, Tax accountant, and Tax Services

    Responsibilities and tasks;

     

    • Collaboration with group partners on financial matters and relevant issues 
    • Involvement in key tax projects and assisting in tax estimations
    • Complying with industry tax obligations and managing daily tax procedures 
    • Preparing accounting entries on tax and monitoring the planning procedures 
    • Managing the transfer pricing procedures and engage in conflict management
    • Semi-annual and the yearly tax provision calculations (alljobs.com.au, 2019)
    • Liaising with tax advisors and working under the directions of the tax authorities
    • Preparation of tax returns schedules and entries
    • Implementation of seamless and the cloud-based tax solutions to the client and identifying the tax issues

    Assessment of the tasks and the roles

    From the above-mentioned tasks and responsibilities, the companies are certainly in need of applicants possessing domain knowledge. This is highly required since the employees will be dealing with intricate and complex tax matters and provide customised tax and finance solutions. Some of the key responsibilities which the corporate accountants have to shoulder are the preparation of the financial statements, maintaining the pricing procedures, and preparation of the audit treasury bills to count among others (Makarenko and Plastun, 2017, p.5). Certain expectation from the company’s end can be also related to the working under the framework provided by the tax authorities. By doing so the accountants are being able to maintain the working ethics within the organisations and the work culture. Compliance with the accounting obligations is other dimensions which are strictly monitored by the company. Since the accounts are also expected to find probable faults in the financial and the superannuation statements, a skill of attending to small but important details should be possessed by the applicants (West, 2018, p.1143). Managing and organising several tasks simultaneously are also mandated by the companies thus ensuring the timely management of tasks and the tax projects.

    Relation of the responsibilities mentioned with the learning outcomes of the units

    The contents of the unit have focused on gaining a conceptual view regarding the accounting issues and its relevance in the accounting world. This includes its dominance in the business world for maintaining its viability and a smooth structure of the business procedures (West, 2018). These have paved the way for the integration of the business units and its standing in the competitive market framework. The evidence of such importance can also be viewed in the roles and the responsibilities mentioned by the company. The necessity of a firm accounting ground has been ingrained in the operating structures of the company which have compelled them to mention the detail aspects of that of corporate accountants’ responsibilities (Domino et al. 2015, p.454)

    Besides this, the unit has also explored some of the important accounting laws, standards and policies. Some of the specific standards are as follows;

    • 2001 Corporations Act
    • International and Australian Accounting Standards (IASB & AASB)
    • Policies of the Stock Exchange

    The 2001 Corporations Act looks after the matters of the fundraising, business integrations, and takeovers. It schedules the formations of the business mergers and the ethical side of the followed business activities. This act regulates the matters and the issues of industrial relations (legislation.gov.au, 2019). For this, the application of substantial accounting provisions is followed by the company and thus they have listed the tasks regarding liaising with stakeholders and the tax advisors. The importance given to the industry tax regulations is defined under the inclusion of this act. This ensures the maintenance of the objectivity and integrity within the business activities. The accountants will be bearing the responsibilities of ensuring error-free and accurate financial statements for preventing the company from being engaged in some kind of accounting issues (Eisenberg, 2017, p.103). Such approaches of the accounts are increasingly guided by this act. 

    The IASB is liable for approving the reporting structures followed by the company. The reporting structures are considered within the auditing and the transfer pricing procedures (iasplus.com, 2019)

    8. Missing additional attributes, topics or learning outcomes from the job advertisement list

    After analysing the previous section, it can be found that the job roles for every official have been identified. In this section of the discussion, more relevant job roles for mentioned official posts are mentioned concerning the organisational requirements. Besides all the mentioned duties, the managerial bodies also have certain more responsibilities within their organisational background. In a detailed manner, it can be found that all the different official posts have certain postal duties, as

    Senior accountant

      

    • The mentioned staffs are responsible for recording and preparing reports related to company liabilities, current assets, revenue, expenses. Besides all these, the management must be analysing relevant information regarding the company accounts (Marinescu and Wolthoff,  2016, p. 225). This can help them to analyse above-mentioned factors
    • Besides the accounts related aspects, the senior accountant of the company must maintain legal aspects of the concerned firm for avoiding legal challenges while developing their business
    • Confidentiality of the company information must be kept in privacy by the active participation of senior accountants of the organization
    • Through analysing company balance sheets, the senior accountants calculate the company's profit and loss for produce payrolls of the company
    • The job role also continues as the senior accountant of a company must update their job knowledge, which can be done through participating in education-related opportunities, maintain personal networks, reading publications related to professional affairs (Johnson and Pike, 2018, p. 65). Through these sources, the management can enhance their knowledge and can handle their organizational duties in more furnished manner.

    Besides these job roles, the previous section specifically fails to highlight the required qualifications for being a senior accountant. The required qualifications for this post are,

    • Competency in accounting
    • Business information research skills
    • Confidentiality skills
    • Information analysis abilities
    • General skills for maths
    • Knowledge related to applying financial software
    • Knowledge regarding corporate finance

    Along with the senior accountants, the other official of an organisation have certain duties, like  

    Corporate accountant

    • The personnel has responsibilities of data analysing related to business factors for helping the management in their decision-making
    • Overseeing procedures related to accounting, which can ensure compliances along with company regulations (Smith, 2017, p. 17)
    • Manage monthly, quarterly, along with annual closing for the concerned company
    • Oversees both internal and external audits

    Senior tax accountant

    • Developing the most suitable tax strategy for business organizations
    • To calculate the tax provisions for the company, the mentioned official revises workplace factors through streamlining and developing and maintaining worksheet within the organization (Järvinen, 2016, p. 863)
    • Identify fundamental merger profitability along with acquisitions through understanding tax-related information set

    The mentioned responsibilities can be handled properly by the responsible employees of an organization after having ample knowledge and qualification, like

    For senior tax accountant, the employee must possess a Bachelor's degree in accounting, finance. Along with the specification, the person must need 5 or more years of experience as an employee of a tax accountant. The personnel needs skills in ledger system, through which the company financial requirements can be met within the deadline (roberthalf.com.au, 2019). After analysing the mentioned skills, it can be found that the mentioned official also requires better communication skills and technological knowledge like the corporate accountant. Through these, they can perform their assigned role in a more classified manner. Besides, better communication can be effective for the officials to convey the company information to the hierarchy in real-time (Borisova and Bekhteneva, 2015). This can help the stakeholders to develop their contribution towards organisational aspects. The mentioned process also motivates the external stakeholders as well due to the transparency in business.      

     

    9. Critical examining of relevant facts regarding corporate accounting

    After analysing the previous sections, it can be sensed that the successful corporate accountant can be made by gaining the required skill set for an individual. These can help understand the company aspects more profoundly and critically. In this process, the corporate accountant must possess certain skills, through which he can handle the company affairs in privacy and restricts the company information from being breached. In this process, the management needs to understand the application of computer software and must run those while gathering ample information regarding the company essentials, especially financial information. According to Uyar et al. (2017, p. 19), legal information is another significant aspect for corporate accountant of the organisation. Besides all these mentioned skills, the mentioned official must possess a better communication skill, through which one can extract the right set of information regarding company affairs from the other managerial figures and employees. In a more detailed analysis, it can be found that the orientation of customer service must be developed by a senior corporate accountant of the company. 

    In addition to these, the mentioned section also highlights such factor, through which individual can improve their skills concerning the organizational requirements. In this context, through gaining technological skills, the individual employees can understand the company factors related to financing in more detailed, as the person can identify company information in a more classified manner through the usage of technology. Hence, it can be proved that gaining technological skills, the personnel can improve knowledge regarding corporate accountant responsibilities.

    Moreover, it can be sensed that better communication process can be effective for management to develop an individual's skills and understanding of corporate factors. As opined by Zerfass and Volk, (2018, p. 411), through communicating the employees and other managerial bodies, the person can develop their skills of managing better organizational factors more profoundly. It can also be stated that it is mandatory for the application of accounting principles for underpinning any specific transactions irrespective of the fact that completed or proposed. Involvement of different facts and circumstances are necessary to specify the entity of respective transactions. Here it is necessary to make effective opinion to render specific entity depending upon the financial statement.

     

    Conclusion

    After analysing the overall factors, it can be understood that the above discussion is concentrating on factors, related to corporate accounting. Throughout the discussion, it can be found that aspects of study highlight collected advertisements for a specific job role with valid sources for an organisation. Industry breakdown analyses along with names are mentioned in the above course. Besides all these, the individual attributes concerning the required job role are classified in this research. The assignment rolls on, as it covers factors like academic and professional qualifications for individual employees to manage their assigned jobs and organisational responsibilities. Adds to these, a critical understanding can be made regarding the roles of corporate accountant along with other officials, as additional information related to the posts are mentioned specifically in this study.

     

     

    References

    alljobs.com.au (2019) News Available at https://www.alljobs.com.au/?q=Corporate+Reporting+accountant&l=&_s=1 [Accessed on 27th August 2019]

    au.indeed.com (2019) News Available at https://au.indeed.com/jobs?q=accountant+corporate+finance&l=Australia&start=10 [Accessed on 28th August 2019]

    au.jora.com (2019) News Available at https://au.jora.com/j?q=Accountant+corporate+finance&l=&button=&sp=search#email_alert_modal [Accessed on 29th August 2019]

    au.jora.com (2019) News Available at https://au.jora.com/job/Business-Services-Accountant-ee007056ad16da20d80e92cd4e252aa1?from_url=https://au.jora.com/j?button=&l=&q=Accountant+corporate+finance&sp=search&sl=/_srt=a9a84d5f-157a-4db6-9937-cf8997c0e03b&sp=serp&sponsored=false&sq=Accountant+corporate+finance&sr=1&tk=GioO2nZNiYEBPwxjmpg6-o2awC8qmi5vXpq2xya1S [Accessed on 27th August 2019]

    Borisova, T.G. and Bekhteneva, R.A., 2015. Certified Public Accountant is an unmatched advantage on the global job market. European Journal of Economic Studies, (2), pp.64-68.

    Domino, M.A., Wingreen, S.C. and Blanton, J.E., 2015. Social cognitive theory: The antecedents and effects of ethical climate fit on organizational attitudes of corporate accounting professionals—a reflection of client narcissism and fraud attitude risk. Journal of Business Ethics131(2), pp.453-467.

    Eisenberg, M.A., 2017. Legal models of management structure in the modern corporation: Officers, directors, and accountants. In Corporate Governance (pp. 103-167). Gower.

    Epstein, M.J., 2018. Making sustainability work: Best practices in managing and measuring corporate social, environmental and economic impacts. Abingdon: Routledge.

    iasplus.com (2019) News Available at: https://www.iasplus.com/en/resources/ifrsf/iasb-ifrs-ic/iasb[Accessed on 29th August 2019]

    Järvinen, J.T., 2016. Role of management accounting in applying new institutional logics: A comparative case study in the non-profit sector. Accounting, Auditing & Accountability Journal29(5), pp.861-886.

    Johnson, S. and Pike, B., 2018. Employee Retention: The State of Engagement in Public Accounting Firms and Why It Matters. The CPA Journal88(12), pp.64-66.

    legislation.gov.au (2019) News Available at: https://www.legislation.gov.au/Details/C2017C00328/Html/Volume_1#_Toc494807178 [Accessed on 29th August 2019]

    Makarenko, I. and Plastun, A., 2017. The role of accounting in sustainable development. Accounting and Financial Control1(2), pp.4-12.

    Marinescu, I. and Wolthoff, R., 2016. Opening the black box of the matching function: The power of words (No. w22508). National Bureau of Economic Research.

    roberthalf.com.au (2019) senior accountant available at: https://www.roberthalf.com.au/our-services/finance-accounting/tax-accountant-jobs [accessed on: 27th August 2019]

    Seek.com.au (2019) News Available at: https://www.seek.com.au/corporate-and-management-accountant-jobs/in-All-Australia [Accessed on 29th August 2019]

    Seek.com.au (2019) News Available at: https://www.seek.com.au/tax-accountant-management-accountant-jobs-in-accounting/in-australia [Accessed on 29th August 2019]

    Smith, G.S., 2017. The accountant: a character in literature. Meditari Accountancy Research25(1), pp.2-27.

    Uyar, A., Gungormus, A.H. and Kuzey, C., 2017. Impact of the accounting information system on corporate governance: Evidence from Turkish non-listed companies. Australasian Accounting, Business and Finance Journal11(1), pp.9-27.

    West, A., 2018. Multinational tax avoidance: Virtue ethics and the role of accountants. Journal of Business Ethics153(4), pp.1143-1156.

    Zerfass, A. and Volk, S.C., 2018. How communication departments contribute to corporate success: The communications contributions framework. Journal of Communication Management22(4), pp.397-415.

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