HI5020 Corporate Accounting Assignment Help

HI5020 Corporate Accounting Assignment Help

Introduction:

This assignment describes the significance and the role of an accountant related to his or her, work, job responsibilities, rights and attitudes towards his work. A proper survey and search will be done in the regards of analysing the key accounting roles and profile of an accountant related to ASX companies. This study will include the ways to describe the jobs of corporate accountants, financial accountants and including their duties, required skills and talents. A proper assignment structure will be given in this study, where it will provide knowledge of companies’ strategies to hire eligible and skilled accountants as per their requirements. The skills and requirements we need in an accountant will be considered in this study to progress the work profile. An accountant would be qualified and shortlisted as per their requirements and duties of the companies related to this corporate accountant job. An accountant job role should have contained all necessary attributes related to the development in this profile. 

 

  • Collection and details of job advertisement data and sources:

 

With effective research and survey, it can be said that there are around 5000+ accounting jobs on Indeed Australia. There are around 4578 job profiles related to financial and corporate accounting jobs to Seek Australia. Total 11265 profiles in Jora Australia related to Australian Accounting jobs. There is around 24863 accounting profile related to accountant jobs in Australia we can find in online job sites specifically in Jora, Indeed and Seek.

After the survey, the job information collected from different job sources such as Seek, Indeed and Jora. Total collected job information and details related to corporate accountants in Australia were collected from all these job portals are total 30.

Serial No.Source of Job corporate accountantsTotal job advertisement
1Indeed15
2Seek5
3Jora10

 

 

  • Name of the organisation and industrial Breakdown:

 

Name of the organisationsIndustrial BreakdownLocation
Intuitive Recruitment Recruitment IndustrySydney – NSW
Racing VictoriaMedia OrganisationDocklands VIC
Beach Energy LtdOil & GasSydney – NSW
MPAU FinanceFinance SectorBrisbane QLD
Hedley Scott RecruitmentRecruitment industrySydney-NSW
C CAR InstallationsManufacturing CompanySydney-NSW
WaterlogicManufacturing CompanyOsborne-Park WA
Pirtek Fluid SystemsFluid and HydraulicKings Park NSW
Doyle ExecutiveForeign affairsSydney NSW
DFP RecruitmentRecruitment AgencyKings Park WA
HR Matrix Pty LtdEmployment and recruitmentBrisbane QLD
KonnexusConsulting AgencySydney – NSW
Aldi StoresGroceriesKings Park
Talent Options SydneyHuman Resources Sydney – NSW
Mine SuperRecruitment AgencySydney Park
SuncorpBanking and FinanceSydney Park
Robert Half Financing and accountingFinance SectorKings Park NSW
Future youRecruitment AgencyBrisbane QLD
Paybang Pty LtdNot applicableSydney Park
Orbital Australia Fuel and gasBrisbane QLD
T+O+M executiveRecruitment firmOsborne-Park WA
TW Power Services Pvt. LtdEnergy and PowerSydney Park
Moore Stephens Pvt LtdFinance and AccountsKings Park NSW
Accent Resources NIFoodSydney Park
GFG AllianceEnergyBrisbane QLD
2X M FinanceFinanceOsborne-Park WA
Moir GroupFinanceBrisbane
Robert WalterRecruitmentSydney – NSW
DFp AccountingEnergySydney – NSW
Redpath Partners Pty LtdEnergySydney – NSW

 

 

  • Job title and the description mentioned in Job portal and advertisement:

 

Serial No.Job portalsJob ads & Titles
1IndeedCorporate Accountant, Senior Accountant-corporate, Assistant Accountant, Financial Investor, Accountant – corporate assistant.

Assistant accountant. Corporate accountant, financial accountant, Accountants, Assistant Corporate Accountant.

Treasury accountant, accounting payable clerk, Forensic Accountant

2JoraPayable Accountant, receivable Accountant, Corporate Accountant, Assistant Accountant – corporate.

Assistant accountant. Corporate accountant, financial accountant, Accountants, Assistant Corporate Accountant.

3SeekAssistant accountant. Corporate accountant, financial accountant, Accountants, Assistant Corporate Accountant.

Treasury accountant, accounting payable clerk, Forensic Accountant

Corporate Accountant, Senior Accountant-corporate, Assistant Accountant, Financial Investor, Accountant – corporate assistant.

 

 

  • Personal attributes needed in corporate accountant mentioned in job advertisement:

 

The personal attributed which are required in the corporate accountant mentioned in the job advertisement given below:

  • The person should have accounting skills and experience to pay attention and the ability to work under pressure.
  • The accountant has to carry interpersonal skills and excellent communication skills to maintain the relationship between accounting requirements and cost.
  • An individual should possess the intellectual skills, practical thinking, quick decision-making ability and ability to adapt to new challenges.
  • The person should be ambitious, creative, practical and should bring various initiatives to perform their responsibilities.
  • The person should be able to work with a team, coordinate with team members and seniors and work under pressure.
  • The person should be able to value their work, ready to give their 100% with devotion and dedication (Balakrishnan, et, al., 2018).
  • The individual should possess technical skills to make a decision quickly, should have positive and collaborative attitudes towards work.
  • The person should be strong practical and analytical skills to understand the requirements and needs of the company.
  • They should have a focus on minor changes and requirements that help them to create logical solutions.
  • An individual should possess the ability to motivate the people and their team in the organisation.
  • The person should be able to communicate clearly and have a spirit to drive a team.
  • They should possess an ability to figure out the things and play a dynamic role as a team player to encourage their team regularly.
  • An i
  • ndividual should be able to handle responsibilities and meet the deadline of the organisation and department.
  • The person should be passionate about their work and task to help the team and department to achieve targets and goals.
  • The person should be target solver, practical thinker, capable to handle pressure and able to handle the situation related to clients and stakeholders.
  • Must have the ability to become a corporate supportive and creative thinker, good leader and supporter for others in the team member (Ellis, 2018).

 

  • Key roles and task and job responsibilities of corporate accountants given in the advertisements:

 

The listed task and job required responsibilities given in the job advertisement for a corporate accountant is given below:

  • Financial and accounting reporting is required to be done monthly, quarterly and annually.
  • A person needs to complete all bookkeeping tasks, taking care of financial data and implication effectively.
  • To prepare the financial report, balance sheet and consolidated statements of accounting books of the organisation.
  • Able to handle SAP – different accounting modules.
  • To prepare and present bookkeeping and handle the complete valuation of business entities.
  • Compiling bank statements and accounting records of the company.
  • The corporate accountant needs to join the team as soon as possible and perform a different role in a team.
  • Looking for a person who can understand business accounting needs and bale to perform financial reports and transactions effectively.
  • Ability to define mistake and figure out the errors in transactions, hands-on-experience of using Different SAP modules and financial software and accounting systems.
  • Ability to figure out treasury and tax accounting management effectively to measure data and financial evidence.
  • Seeking for experienced and hardworking employee and the candidate who can timely process the requirement, accounting process, delivery and information.
  • The person who assist their senior and support junior in the team.
  • Ability to understand the attend recurrent financial and accounting journals and vales.
  • Preparing financial statements, applicating various accounting rules and regulations.
  • Able to implicate accounting standards and regulate the budgeting process, it will be helpful for the company to manage finance by the council (Adhariani, et, al., 2019).
  • Understand and govern complex demands of accounting norms and standards-based financial process.
  • Working with seniors, able to give reporting timely to provide effective accounting solutions and decision-making process in the business.
  • The person should be able to manage than the requirement of accounting department with the help of accounting standards and corporate norms (Allen, et. al., 2018).
  • He can work and perform well to support the accounting department to provide quality services to the organisation.
  • Maintenance of accounting software, SAP and create logical analysis to give accurate feedback about the financial condition of the companies.
  • Able to prepare and, making journals, posting ledgers perform ledgers and compiling data with the other relevant adjustments. 
  • Handle all mandatory regulations, preparing analytical reports, submitting the consolidated financial reports and statements to the company (Ellis, 2018).

 

  • Professional and accounting qualification needs to be posted in the job advertisements:

 

The various academic and professional qualification needs are addressed in the job portals related to corporate accountants:

  • The person should possess a degree of Bachelors in Accounts and Finance, should have completed CA and have more than 3 years of experience practising as a qualified CA.
  • The person should be well experienced and depth knowledge of financial regulation, accounting and taxation amendments occurred every year (Nasr, et, al., 2018).
  • Should be possessed depth knowledge of accounting standards and have hands-on experience working with accounting firms for more than 3 years (Owolabi, 2019).
  • An individual should have well experience in tertiary qualification in accounting and knowledge of the field of finance and accounts.
  • Ability to understand the attend recurrent financial and accounting journals and vales.
  • Preparing financial statements, applicating various accounting rules and regulations.
  • Able to implicate accounting standards and regulate the budgeting process, it will be helpful for the company to manage finance by the council (Adhariani, et, al., 2019).
  • Understand and govern complex demands of accounting norms and standards-based financial process.
  • Working with seniors, able to give reporting timely to provide effective accounting solutions and decision-making process in the business.
  • The person should be able to manage than the requirement of accounting department with the help of accounting standards and corporate norms (Allen, et. al., 2018).
  • He can work and perform well to support the accounting department to provide quality services to the organisation.
  • Looking for a person who can understand business accounting needs and bale to perform financial reports and transactions effectively.
  • Ability to define mistake and figure out the errors in transactions, hands-on experience of using Different SAP modules and financial software and accounting systems.
  • Ability to figure out treasury and tax accounting management effectively to measure data and financial evidence.
  • Seeking for experienced and hardworking employee and the candidate who can timely process the requirement, accounting process, delivery and information.
  • A person should possess knowledge of Microsoft offices and access.
  • Should be able to understand the accounting requirements and prior qualification and experience in the field of cost accounts. 
  • Knowledge and experience of an audit or chartered accounting process should be able to adapt to handle the work of 1000+ people (Owolabi, et, al., 2019).
  • The person should have the ability to qualify the accounting aspects and can prepare a financial statement and working experience with SAP.
  • Experience in the areas of Taxation handling, profit and expenses records and handle deferred tax calculations.
  • SAP, ORACLE and TM1 is the plus. An individual can handle taxation and budgeting responsibilities of the company, able to work to enhance the rapport of the company. 

 

  • The key roles learnt in MPA unit and the terms related to the advertisement collected:

 

There are various tasks, roles and job responsibilities collected in job advertisement from different job portal in Australia which is necessary for a corporate accountant to possess such as responsibilities and roles. These are:

Managing financial data: 

As per task learnt in the unit, this is the initial task of an accountant to manage its corporate roles and responsibilities. The role of an accountant includes various categories such as preparation and presentation of reports and accounting data, handle bookkeeping and organisational structure part related to tax, budget, cost and revenue. The corporate accountants need to take care of accounting systems, manage records, books and vouchers efficiently. The corporate accountant has to manage to cost and figure out actual financial conditions through the financial report prepared quarterly, annually and monthly (Nasr, et, al., 2018).

  • Preparing financial statements and reports according to various accounting standards and rules.
  • Working as a helping hand in an operational and financial matter to create accurate and exact financial capital reports for investor and stakeholders. It helps the council and other people in the department to complete the budgeting process effectively.
  • Managing financial evidence, vouchers and invoices using SAP and TM1 software for accurate and error-free ledger and journals for the department (Schroeder, et, al., 2019). 

Accounting report preparation:

The next of the Accountant incorporate field is to figure the errors and mistakes while making and preparing accounting report, an accountant takes care of vouchers, invoices and other accounting transactions and entries should be transacted based on evidence and proves, financial and accounting report are prepared essentially on monthly, quarterly and annual basis. The report needs to be prepared error and mistakes free after taking care of different accounting principles such as dual aspects principles, accrual principle and principle of consistency for the business (Okwuosa & Amaeshi, 2018).

  • Preparation and presentation of profit and loss accounts.
  • Compiling and consolidating the financial accounts and budgeting process.
  • To prepare the report and present analytical report in the group before submitting consolidated financial results to the German Group.

Regulatory and financial bodies:

The corporate accountant should be taken care of their responsibilities of handling accounting standards, performing accounting deadlines without missing internal and external deadlines. Regulatory bodies make accounting norms and standards which are needed to be resolved and performed on time with the help of accurate and qualified data (Wardhana, 2018).

  • The person should have the ability to exercise the responsibilities, manage accounting data and financial costs (Adhariani, et, al., 2019).
  • Able to compare projected and actual financial report according to accounting principles and standards.
  • Can prepare analytical reports after submitting a report to meet the deadlines.
  • Consolidation of financial and accounting data within the organisation (Ellis, 2018)

 

  • Additional topic missing in Unit MPA but those are listed in the Job description of Corporate accountants:

 

Missing points in MPA units are:

 Analytical advisor:

The corporate accountants should be able to handle the analytical task and give analytical advice to the necessary team. The information they can use to manage the logical demands of finance for the existence of the business. Corporate accountants should work as a logical and analytical advisor so that management can use their skills in making financial decisions effectively (Crowther, 2018). 

  • The person should have technical skills to take technical decision based on accounting abilities.
  • A person should be interpersonal skills to motivate team members and prepare financial accounts quarterly and annually.
  • Should be responsible to handle group accounting meetings, take decision-related to statutory matters of compliance, ASX reporting and accounts investors listing.
  • Responsible to assist corporate trainers, CA and higher accounting authorities.
  • Give assistance and support to finance managers, provide authority and quality services in accounting services (Warren & Jones, 2018). 

External business targets:

The corporate accountants should be able to work accounting professionals, they should understand the requirements of business affiliations and. Financial professionals expect from financial experts to perform their roles and responsibilities in regards to ASX reporting, handling the accounting process of the organisation. 

The accountant should have abled to handle and engage in maintaining financial transparency. The example of such job description is given below:

  • The person should be able to prepare analytical skills and financial reports.
  • Understand the needs of transparency of financial information that involves business changes, financial innovative skills and ability to understand business needs. (Balakrishnan, et, al., 2018).

 

  • Skills, responsibilities and attributes needed to become a corporate accountant:

 

Innovation

Accounting standards and principles are needed to be implemented in the business from the first day it started. Innovative and creative ideas are necessary for the business to handle the cost and revenue generation process. Corporate accountants should have skills and attributes to understand business challenges and give analytical advice to the company. Innovation is necessary for ideas, views and business which is mentioned in the job description for the accountants that states and delivers the needs of innovation skills in employees (Smith, 2018).

Understanding of accounting norms:

The corporate accountant should be able to handle accounting work based on his analytical The next of the Accountant incorporate field is to figure the errors and mistakes while making and preparing accounting report, an accountant takes care of vouchers, invoices and other accounting transactions and entries should be transacted based on evidence and proves, financial and accounting report are prepared essentially on monthly, quarterly and annual basis (Pal, 2019).

Enthusiasm:

The corporate accountant should have a responsibility to show enthusiasm in their jobs and able to encourage their team members in the organisation. Accountants should have practical thinker and problem solver that add power to their duties. The person should have brought energy and enthusiasm to their team members and enhance the engagement of accounting skills. The person should have the ability to exercise the responsibilities, manage accounting data and financial costs. Able to compare projected and actual financial report according to accounting principles and standards. Accountants can prepare analytical reports after submitting a report to meet the deadlines & consolidation of financial and accounting data within the organisation (Schroeder, et, al., 2019). 

Conclusion

The role of an accountant includes various categories such as preparation and presentation of reports and accounting data, handle bookkeeping and organisational structure part related to tax, budget, cost and revenue. The corporate accountants need to take care of accounting systems, manage records, books and vouchers effectively. This study included different ways to describe the jobs of corporate accountants, financial accountants and including their duties, required skills and talents. A proper assignment structure has been given in this study, where it will provide knowledge of companies’ strategies to hire eligible and skilled accountants as per their requirements. The skills and requirements we need in an accountant were considered in this study to progress the work profile. An accountant was to be qualified and shortlisted as per their requirements and duties of the companies related to this corporate accountant job (Allen, et. al., 2018).

References

Allen, A. M., Ramanna, K., & Roychowdhury, S. (2018). Auditor lobbying on accounting standards. Journal of Law, Finance & Accounting, Forthcoming.

Schroeder, R. G., Clark, M. W., & Cathey, J. M. (2019). Financial accounting theory and analysis: text and cases. John Wiley &Sons.

Smith, M. (2018). Luca Pacioli: The father of accounting. Available at SSRN 2320658.

Warren, C., & Jones, J. (2018). Corporate financial accounting. Cengage Learning.

Balakrishnan, K., Blouin, J. L., & Guay, W. R. (2018). Tax aggressiveness and corporate transparency. The Accounting Review94(1), 45-69.

Crowther, D. (2018). A Social Critique of Corporate Reporting: A Semiotic Analysis of Corporate Financial and Environmental Reporting: A Semiotic Analysis of Corporate Financial and Environmental Reporting. Routledge.

Nasr, M. A., & Ntim, C. G. (2018). Corporate governance mechanisms and accounting conservatism: evidence from Egypt. Corporate Governance: The International Journal of Business in Society18(3), 386-407.

Ellis, C. (2018). Why ambitious corporate accountants should extend their role beyond finance. Professional Accountant2018(32), 24-24.

Okwuosa, I., & Amaeshi, K. (2018). Sustainability reporting and the professional accountant in Nigeria.

Adhariani, D., Siregar, S. V., & Yulius, R. (2019). Borderless with Unequal Opportunity? Experts’ Perspectives on the ASEAN Economic Community and the Impact on Indonesian Accountant Profession. The Qualitative Report24(5), 1147-1167.

Pal, N. R. (2019). Corporate Governance-Mapping and Imaging the Swot on Real-Time a Bare Minimum in Assurance to Growth and Sustainability. The Management Accountant Journal54(2), 40-45.

Owolabi, S. A. (2019). Quality Accounting Service a Panacea to Effective Corporate Governance. Available at SSRN 3382381.

Wardhana, D. Y. (2018). Good Corporate Governance Practices in Family Business: A Case Study in Indonesia. Petra International Journal of Business Studies1(1), 35-44.