HI5020 Corporate Accounting

CORPORATE
ACCOUNTING

Table of Contents
INTRODUCTION...........................................................................................................................1
1. Number of job advertisement collected in total and advertisement collected from each
source...........................................................................................................................................1
2. Names of organisation posting job advertisements and their industry breakdown.................1
3. List of all the job titles collected from each source.................................................................3
4. Personal attributes collected from job advertisements.............................................................4
5. List of Personal attributes required by a corporate accountant collected as per the
understanding of author mentioned in job advertisement ...........................................................9
6. List of professional qualifications and academic of various job profiles collected from job
advertisement.............................................................................................................................10
7. Tasks, roles and responsibilities for the job Advertising.......................................................10
8. Additional topics, attributes and learning outcomes missing from HI5020 Corporate
accounting that are listed on the job advertisement...................................................................11
9. Examining the skills, experience and attributes needed to become a corporate accountant
and critically evaluating the topic learned in MPA unit HI5020 corporate accounting............12
CONCLUSION..............................................................................................................................13
REFERENCES .............................................................................................................................14
APPENDIX....................................................................................................................................15

INTRODUCTION
Corporate accounting is branch of accounting, it deals in preparation of final accounts,
data analysis, interpretation and cash flow statements. It is a process of tracking all the
transactions of the business activities. Corporate accountant perform various responsibilities such
as financial report management, forecasting, analysis of data, budgeting etc. (Best and Schafer.,
2017). Corporate accountant plays a vital role in the business because their analysis helps
business in decision making. Job advertisement can be collected from any print media, electronic
media etc. job advertisements are collected from different job portals such as Seek, Jora and
Indeed for job profiles of corporate accountant, tax accountant, senior accountant, corporate
financial accountant etc. from different. Report will includes the list of attributes, skills and
experience needed by a corporate accountant to perform its job.
1. Number of job advertisement collected in total and advertisement collected from each source
In the report total 30 job advertisements are collected from the sites Seek, Jora and
Indeed. These all are the job portals. Job advertisement collected from each source are as
follows:
 Seek = 12
 Jora = 6
 Indeed = 12
2. Names of organisation posting job advertisements and their industry breakdown
Seek
Company name Industry breakdown
Small maxwell Pty Financial consultancy
BHL group services Pty limited Real estate
J. Giuffre & co. Taxation service
Myssy + Co. accountants Ptv. Ltd. Financial consultancy
KK partners group Financial consultancy
IMPACT HR Financial consultancy
R Leong and Co. Financial consultancy
1

Hall Chadwick WA Financial consultant
Profusion PAC Pty Ltd Financial services
Mifsud & associates Financial consultancy
Thiel partners Financial consultancy
Mid coast partners Service industry (SEEK, 2019)
Indeed
Company name Industry breakdown
Lockheed Martin Australia Advanced technologies information security,
aerospace, defence
Accenture Professional services
Sportsbet.com Bookmaking
Bunzl Financial consultant
Canva Graphic design
Accru Melbourne Service industry
Google Internet, cloud computing, computer software,
computer hardware, artificial intelligence and
advertising
Google Internet, cloud computing, computer software,
computer hardware, artificial intelligence and
advertising
Coffey Engineering consultancy
University of Melbourne Education industry
SMEC Consulting
Powerstaff consulting Consulting (INDEED, 2019)
2

Jora
Company name Industry breakdown
Cummins Heavy equipment and automotive
MPC kinetic Energy and resource industry
Robert half Professional services
Redpath partners HR consultancy
Alexander appointments Pharmaceutical industry
Robert Walters Recruitment (JORA, 2019)
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3. List of all the job titles collected from each source
Seek
Job profile
Tax accountant
Tax accountant
Accountant
Senior tax accountant
Tax accountant
Tax and business accountant
Business and tax accountant
Tax accountant
Tax accountant
Tax accountant
Accountant
Senior accountant (SEEK, 2019)
Jora
Job profile
Corporate accountant
Corporate accounting
Financial accountant
Corporate accountant
Financial accountant
Financial accountant (JORA, 2019)
4

Indeed
Job profile
Financial analyst
Junior accountant
Accountant
Financial accountant
Financial accountant
Accountant
Financial accountant
Financial analyst
Financial accountant
Management accountant
Financial accountant
Management accountant (INDEED, 2019)
4. Personal attributes collected from job advertisements
Seek
Company name Personal attributes
Small maxwell Pty 1 years of experience in similar role, appropriate degree,
understanding of Australian taxation, expert in using
MYOB accountants office, Xerox, strong communication
skills, attention to accuracy and detail and confident.
BHL group services Pty limited Experience of 3 to 4 years in corporate tax, degree of
finance, accounting or economics and expert in real estate
industry.
5

J. Giuffre & co. Qualified CA\ CPA, 5 years experience and strong
communication skills. Experience in taxation and have
worked there, experience in Handicraft, MYOB and
Xerox.
Myssy + Co. accountants Ptv. Ltd. Minimum 5 years experience in public practice and
ambition of career development, qualified CA or CPA,
knowledge of software products and excellent verbal and
written communication skills.
KK partners group Experience and knowledge in preparation of Australian
individual income tax returns, strong communication
skills both verbal and written, experience in MYOB AO
and general accounting qualifications (SEEK, 2019).
IMPACT HR Qualification in finance, leadership experience, excellent
numerical skills, communication skills, ability to learn
and use industry software and experience in Microsoft
office.
R Leong and Co. At least 18 months of experience in public practice
environment, goof English speaking, communication
skills, knowledge of Australian tax system, Xerox,
Handisoft , Quickbooks and MYOB.
Hall Chadwick WA Degree-qualified Tax & Business Services Accountant,
with 1-2 years experience, ideally from a Chartered
Accounting background. Multi- tasking and knowledge of
preparing tax return, BAS and IAS.
Profusion PAC Pty Ltd Degree in finance, accounting or equivalent, qualified CA
or CPA, masters in taxation, experience in taxation,
experience as a business analysis.
Mifsud & associates Qualified CA or CPA, bachelors in accounting or
finance, experience in Australian professional accounting
6

practice, string taxation skills, communication skills and
knowledge of different applications and software.
Thiel partners 2 years experience in public practice, experience in
preparing financial statements, capital gains, Tax etc.,
experience in Xerox tax, Xerox accounting, excellent
communication skills and bachelors in accounting.
Mid coast partners Bachelors in accounting, studying CA or CPA,
experience in Xerox and other software of accounting is
highly regarded.
Jora
Company name Personal attributes
Cummins Graduate in accounting, clear communication skills, time
management skills, ability do multi-tasking, strong
computer skills, knowledge of Microsoft office, customer
service skills and maintain confidentiality (JORA, 2019).
MPC kinetic Minimum experience of 3 years in similar role,
graduation in accounting, qualified CA or CPA, strong
communication, organisation, multi-tasking skills, ability
to interact with different levels of management, ERP
experience, attention to detail and accuracy in work.
Robert half Degree in accounting, business, certificate of CA or CPA,
experience in accounting for at least 3 to 5 years, expert
in excel skills, excellence data analysis, reporting,
problem solving skills, ability to address complex issues
and strong organisation and communication skills.
Redpath partners Possess leadership skills, ability to motivate and coach
business, ability to engage and influence external
advisors, high attention to detail, ability to manage risk,
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effective organisation skills, communication and
management skills,need to be flexible and performance
oriented.
Alexander appointments Qualified CA or CPA, bachelor's in accounting, advanced
excel and ERP system such as oracle and SAP and ability
to solve problems.
Robert Walters Qualified CA or CPA, strong communication skills,
ability to face challenges, excel skills and strong
intermediate skills.
Indeed
Company name Personal attributes
Lockheed Martin Australia Experience and ability in finance, accounting, experience
in accounting principles, practices, concepts and standards
(INDEED, 2019). Intermediate skills, communication
skills, MS office knowledge and relevant software.
Accenture Strong communication skills both verbal and written,
ability to work in team, qualified CA or CPA, knowledge
of accounting standards, internal control, fluency in
English speaking and bachelors in accounts or equivalent.
Sportsbet.com Ability to work and coordinate with team, experience in
management reporter, oracle, experience in accounting role
and string communication skills.
Bunzl Experience in a similar role, ability to operate and adapt
changes quickly, minimum 5 years of experience, degree in
commerce, business or accounting, ability in learning new
skills, strong communication skills, multi-tasking, ability to
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translate financial data into understandable information.
Canva 2 years experience in relevant professional services,
knowledge of accounting adjustments, qualified CA or
CPA, knowledge of advance MS excel, self motivated,
good communication skills and ability to understand
variance analysis.
Accru Melbourne Attention to detail and accuracy, ability in working with
team, good management and organisation skills, good
communication skills, knowledge of Excel, ability to work
autonomously.
Google Qualified CA or CPA, experience in public multinational
company, experience in management compliance, SAP,
ability to work independently and also team oriented,
excellent communication skills, interpersonal, organisation
skills, attention to detail and expert in computer, analytical
and spreadsheet making.
Google Bachelor's degree in accounting or equivalent practical
experience, 3 years experience in investment banking,
corporate finance and management consulting. Strong
communication skills, presentation skills, analytical skills,
familiar with SQL, good leadership skills and self
motivated to perform their job.
Coffey Qualified CA or CPA, graduate in finance or accounting,
strong verbal and written communication skills, attention to
detail and accuracy, advanced Excel skills, experience in
similar accounting role, initiative and problem solving
skills.
University of Melbourne Degree in accounting, qualified CA or CPA, experience in
producing management reports and analysis, forecasting,
9

budgeting, monitoring financial performance, strong
communication skills, ability to prepare documentation,
expert with VBA database, strong problem-solving skills,
interpret and identify data and ability to interact with
stakeholders.
SMEC Qualified CA or CPA, 4 to 5 years of experience, strong
problem solving and analytical skills, knowledge of IFRS
and ability to review financial reports.
Powerstaff consulting Qualified CA or CPA, 2 to 3 years of experience, bachelors
in accounting or equivalent.
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5. List of Personal attributes required by a corporate accountant collected as per the
understanding of author mentioned in job advertisement
There is a list of personal attributes collected as per the understanding of author are as
follows:
 Ethical: Corporate accountant need to be ethical and have knowledge of what is wrong
and right (Balakrishnan, Watts and Zuo, 2016). They need to take decision correctly and
display honesty in their bookkeeping and accounting activity.
 Organization skills: Corporate accountant need to possess this skills and know how to
deal with paperwork, data and numbers on regular basis. To always convey right
information, they must have strong organisation skills.
 Accountability: Accountant need to have a good quality of accountability, they need to
accept their mistakes and take feedback. They need to make sure that mistakes are not
repeated again.
 Knowledge on field/ experience: It is important for every accountant to have experience
in their work. They need to understand the niche market of the industry and grasp
industry detail. However the basic task of all accountants are same.
 Reliable and trustworthy: It is one of the most important attribute that every corporate
accountant need to possess. An accountant need to trustworthy in their work as they deal
with financial conditions of the company. They need to make sure that all the confidential
detail of the business are safe and secure.
 Creativity: Accountant need to be creative, it is one of the best quality of accountant.
They need to be capable of solving complex issues by formulating new and creative
strategies and ideas.
 Strong communication skills: It is also one of the most important skills that must
possess in every corporate accountant. They must be capable to communicate their views
and ideas to every department both verbally and written. It will be beneficial in building
relations with stakeholders (Ahadiat and Martin, 2016). The need to be capable of
communicating insights to non-finance staff.
 Financial analysis skills: Corporate accountant need to be capable of analysing the
financial statement of the company, identify problems, communicate problem to
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managers and take decisions to solve these issues. It is important to know how to analyse
the financials of the company, if the analysis is wrong then company may face loss.
6. List of professional qualifications and academic of various job profiles collected from job
advertisement
The job advertisement collected from job portal need following academic and
professional qualifications:
 Bachelor's in accounts, finance or commerce
 Masters in Finance
 PHD in accounting
 Charted accountants ( CA )
 Certified public accountant ( CPA )
 Certified management accountant ( CMA )
 Certified internal audit ( CIA )
 Certified financial analyst ( CFA )
 Certified bank auditor ( CBA )
 Masters in taxation
 They need to have an experience of 2 to 3 years in the same industry
 They need to have experience in accounting software in order to perform particular job.
 Need to have knowledge of Australian standards
7. Tasks, roles and responsibilities for the job Advertising
In the advertisements illustrated above, there are many tasks, roles and responsibilities
which can be termed suitable for a corporate accountant.
Tasks:- Summarizing and Analysing the financial data collected, preparing financial statements
like balance sheet, trial balance etc., conducting audit of the financial transactions recorded,
implementing accounting controls and checks on the financial data collected are the various
aspects that a corporate accountant is expected to perform. This will help in successfully
performing different tasks and ensuring that methods adopted are correct.
Roles and Responsibilities:- As a Corporate Accountant, there are many responsibilities and
roles that an accountant is expected to perform. They have to ensure that calculations and
interpretations made are correct and accounting data is analysed correctly. They also have to
ensure that accountants implement only those practices that are ethical and help in taking morally
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correct decisions. They also have to follow the company guidelines as well as the guidelines set
up- the standards and legal authorities so that any unnecessary frauds and troubles can be
avoided. Another major role of an accountant is to maintain good and transparent communication
channels between different departments and their managers so that any discrepancy can be
immediately rectified ensuring that correct and fair practices are adopted.
8. Additional topics, attributes and learning outcomes missing from HI5020 Corporate
accounting that are listed on the job advertisement.
The HI5020 covers all the major attributes and functions of a corporate accountant but there are
few areas which are not covered by the module. Some of the additional attributes and learning
outcomes of corporate accountant are
 The most important attribute and quality of a corporate accountant includes a strong
sense of ethics. It is essential for an accountant to know the difference between right and
wrong and display it in the books of accounts as well. The corporate accountant holds the
responsibility to provide fair financial information without any manipulation (Atanasov
and Black, 2016). Moreover, they must not indulge in insider's trading for personal gains
because it is both unethical and illegal and the corporate accountant can face legal
consequences for it.
 It is imperative for a corporate accountant to keep on learning incessantly. Although, it is
mandatory to have a strong grasp of all basic information but at the same time with the
continuous modifications in accounting principles, laws and regulations it is necessary for
a corporate accountant to keep on learning.
 Every corporate accountant must emphasize accuracy in their overall work and
performance. There must be minimum scope of errors and they must focus on all the
small details and should double check their work.
However, in case of errors the corporate accountant must own up to their mistakes and make sure
that these mistakes are not repeated again (Mishra and Singh, 2017). Having a sense of
accountability is also an important attribute of an efficient and effective accountant.
Thus, it has been observed that the above mentioned points are missing from HI5020 and
It is important for every corporate accountant to adapt these soft skills in order to work
with greater efficiency and effectiveness as it would help in the growth and development of both
corporate accountant and the organisation.
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9. Examining the skills, experience and attributes needed to become a corporate accountant and
critically evaluating the topic learned in MPA unit HI5020 corporate accounting.
A corporate accountant is an individual that deals in business accounting and maintains
financial record of an organization with compliance to all the necessary laws, principles, rules
and regulations. In most of the cases, the corporate accountant also helps the company in making
financial decisions.
Skills required to become a corporate accountant are
 In the view point of author, the basic skill required by a corporate accountant involves
them to have a complete knowledge about the functioning of the business. As a corporate
accountant there are various roles and responsibilities like decision making, negotiation
and critical thinking (Maas, Schaltegger and Crutzen, 2016). Moreover, the corporate
accountant must also have an understanding about how their position works within the
business.
 According to author, communication skills are very important in order to become an
efficient and effective corporate accountant. It is also imperative for an accountant to deal
with various departments within the organisation and also to communicate the
performance of the business to the supervisors and to provide them with adequate advice
and feedback.
Attributes required to become a corporate accountant:
1. As per MPA unit HI5020 Corporate Accounting, the accountant must have strong sense
of ethics and must protect the confidential information of an organization unless
authorized to do so (Rebele and Pierre, 2015). This will also build trust relationship
between the accountant and top level management.
2. It has been stated in MPA unit HI5020 Corporate accounting that the accountant must
have complete knowledge about their field, legal laws and principles as it would help in
smooth functioning of the company otherwise it can lead to government intervention and
also affect the image of the company.
These are some of the most important skills and attributes as mentioned in the MPA unit HI5020
Corporate accounting.
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CONCLUSION
After going through the research conducted in this report, it can be concluded that
corporate accountant and accounting is an extremely important aspect of any firm. This report
also identified different personal attributes that a person should possess in order to be appointed
as a corporate accountant. Further, in this report, various job advertisement from different fields
were collected and analysed and job profiles as well so that it could be identified what are the
adequate qualities and qualifications that a corporate accountant should posses. This report
concluded the essential tasks, roles and responsibilities that a corporate accountant should
perform and a critical examination of their skills was also conducted.
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REFERENCES
Books and journals
Maas, K., Schaltegger, S. and Crutzen, N., 2016. Integrating corporate sustainability assessment,
management accounting, control, and reporting. Journal of Cleaner Production. 136. pp.237-
248.
Atanasov, V. A. and Black, B.S ., 2016. Shock-based causal inference in corporate finance and
accounting research. Critical Finance Review. 5. pp.207-304.
Ahadiat, N. and Martin, R. M., 2016. Necessary Attributes, Preparations, and Skills for the
Selection and Promotion of Accounting Professionals. Journal of Accounting & Finance
(2158-3625). 16(1).
Balakrishnan, K., Watts, R. and Zuo, L., 2016. The effect of accounting conservatism on
corporate investment during the global financial crisis. Journal of Business Finance &
Accounting. 43(5-6). pp.513-542.
Best, E. E. and Schafer, J. K., 2017. A Corporate Tax Return Simulation: Utilizing Electronic
Work Papers and Resolving Ambiguous Issues. Issues in Accounting Education. 32(4).
pp.61-80.
Mishra, S. and Singh, G., 2017. Forensic Accounting: An Emerging Approach to Deal with
Corporate Frauds in India. Global Journal of Enterprise Information System. 9(2).
Rebele, J. E. and Pierre, E. K. S., 2015. Stagnation in accounting education research. Journal of
Accounting Education. 33(2). pp.128-137.
Online
INDEED. 2019. [Online]. Available through : <https://www.indeed.co.in/?r=us >.
JORA. 2019. [Online]. Available through : <https://au.jora.com/j?
q=LCC+Asia+Pacific&l=Australia+&button=&sp=search >.
SEEK. 2019. [Online]. Available through : <https://www.seek.com.au/job/39821305?
searchrequesttoken=81d458c6-4aca-4133-98cb-0b6e0d8560c4&type=standout >.
16

APPENDIX
Seek
17

18

19

20

21

Indeed
22

23