Corporate Accounting: Employer Qualifications Report - HI5020

This report analyzes job advertisements from various organizations, including Kone Australia, Baxter International Inc., and Wise Tech Global, to identify the essential qualifications, skills, and experiences that employers seek in corporate accountants. The report examines specific job titles, such as Senior Corporate Reporting Accountant and Tax Accountant, and details the required personal attributes, academic qualifications, and professional certifications, such as CA/CPA. Key roles and responsibilities, including financial reporting, tax preparation, and communication skills, are discussed in relation to the demands of international accounting standards and local regulations. The analysis highlights the importance of numerical skills, attention to detail, organizational skills, and resource management abilities for accountants. The report aims to provide a clear understanding of the qualifications and experiences employers seek from corporate accountants. The report is based on a HI5020 Corporate Accounting assignment submitted by a student.

Running head: CORPORATE ACCOUNTING
Corporate Accounting
Name of the Student:
Name of the University:
Authors Note:

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Contents
Abstract:...........................................................................................................................................2
Introduction:....................................................................................................................................2
Discussion on advertisements and qualifications:...........................................................................3
Conclusion:....................................................................................................................................11
References......................................................................................................................................13

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Abstract:
The paper aims at understanding the prerequisite skills and qualities for securing a job of a
corporate accountant through a systematic and detailed evaluation of the job advertisements
published on different global employment websites by a number of corporate firms. Many roles
are filled by corporate accountants including interaction with different people in an organization.
Therefore, possession of excellent communication and business acumen skills is extremely
important along with the ability to understand the numbers and calculations required. An attempt
is made to comprehend the set of competencies that is typically expected of corporate
accountants by the firms.
Introduction:
When the “Journal of Accountancy” mentioned in 1912 that an accountant shall be “looked upon
as a business physician”, no one could envisioned the dynamic array of practice areas that would
exist 100 years later. The Accountants work to prepare and organize financial and tax documents
for small and large corporations, non-profit and government agencies and individuals. It is
defined as an organized way to keep records of business and financial transactions, and also
summarize those transactions, analyse and verify them, and report financial results (Chapple,
2016). To put it in other way, accounting is something that is designed to identify, measure,
record, and communicate reliable, relevant, and consistent information about the economic
activities of an organization.

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Discussion on advertisements and qualifications:
Seven different organizations have published number of advertisements to recruit
accountants. These advertisements have been collected from number of different sources to
analyze and explain the qualifications, attributes, key roles and tasks of the accountants in these
jobs.
List of organizations posted the advertisements along with industry breakdown is provided in the
table below.
Name of the organization Industry break down
Kone Australia Manufacturing
Baxter International Inc. Banking
Wise Tech Global Information Technology
Seymour Whyte Constructions Construction
Ramcar- Pemulwuy NSW Manufacturing
Eco Outdoor Architecture Service provider
MPC Kinetic Construction
List of job titles mentioned the advertisements are given in the table below.
Name of the organization Job titles mentioned in the advertisement.
Kone Australia Senior Corporate Reporting Accountant

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Baxter International Inc. Senior Financial Accountant ANZ
Wise Tech Global Corporate Accountant
Seymour Whyte
Constructions
Tax Accountant
Ramcar- Pemulwuy NSW Senior Accountant
Eco Outdoor Management Accountant
MPC Kinetic Corporate Accountant
Personal attributes, academic and professional qualifications for the respective job
advertisements explained below:
Starting with “Senior Corporate Reporting Accountant” is what KONE Australia is looking for
to join their team based at Mascot that has been posted at the ‘indeed’. It includes the
responsibility of planning, designing, documenting and implementing all financial controlling
processes and procedures. It also comes with the responsibility of advising financial controller on
all facets of financial control matters and also to improve cash flow and working capital (Faculty
Roles and Responsibilities, 2018). Excellent knowledge in the preparation of tax effect
accounting calculation, strong analytical and oral communication skills with strong writing
abilities, excellent stakeholder management and large ERP experience with SAP advantage will
be given preferences (Felicia Ogonnia and Gloria Mgboyibo, 2015).

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The position of “Senior Financial Accountant ANZ” in Baxter International Inc. has been opened
and the company has advertised with the objective of finding a suitable candidate to join their
dedicated financial reporting team. Enduring integrity in recording financial transactions and
closely working with Genpact, the strategic partner of Baxter, is included in the overall
responsibility of the accountant. Knowledge in Generally Accepted Accounting Principles is a
must for the candidate to apply for the job (Financial Accounting Standards Board proposes new
accounting standards for nonprofits, 2015). It is important to note that the applicants will
undergo an extensive interview process by the organization to assess the knowledge of the
applicants before appointing a suitable person in the advertised position.
With the aim at hiring “Corporate Accountant”, Wise Tech Global posts ad on ‘indeed’ with the
requirement of CA/CPA Qualification, 5+ years post qualification experience, etc. Along with
the above mentioned academic and professional qualification, they are mainly looking for the
background and the applicant’s abilities to correctly use the modern accounting software to
record financial transactions properly. Identification of entities for future rationalization,
deregistration of dormant entities with appropriate legal and tax compliance are included in the
job description in the advertisement published by the company hence, the applicants must have
necessary knowledge to carry out these responsibilities effectively (Howieson, 2017).
The Seymour Whyte Constructions is seeking for a motivated full- time “Tax Accountant” to
join their finance team on a permanent basis. Knowledge in taxation maters to prepare income
tax returns including the calculation of effects of fringe benefit tax on the overall tax liability of
the company is crucial to the job of the tax accountant and thus, the applicants must have

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necessary knowledge to deal with tax matters of the company. Preparation of group payrolls on
monthly basis along with preparation of group FBT return are inclusive of job description in the
advertisement published by the company. The company has also mentioned that the applicants to
the above post shall also have at-least 2 to 4 years of experience of working in a large
corporation. Thus, fresher are not eligible to apply for the post of tax accountant in the company
(JUBS and HOUGHTON, 2017).
Ramcar- Pemulwuy NSW is offering a position of “Senior Accountant” at their ANZ Head Office
at ‘Jora Australia’ that typically includes duties like acquiring and maintaining a thorough
understanding of the financial reporting and general ledger structure. The company is seeking
candidates having completed a professional qualification with certified practicing accountants,
having a minimum of 2 years of experience in a similar role; have in depth technical knowledge of
and ability to source Australian Accounting Standards, Corporations Act Regulations and
FBT/GST/Work safe legislation. Should have extensive experiencing with Microsoft Office and
hold intermediate to advanced MS Excel skills and also should have good attention to detail. The
candidate needs to be self-motivated with an intrinsic desire to strive for excellence with a good
organizational and time management skills and the ability to work under pressure (Meyer, 2018).
A preference has been given on good problem solving abilities and on excellent written, verbal
and interpersonal communication skills.
At ‘seek’, Eco Outdoor is looking for a “Management Accountant” that provides for an
opportunity that is suited to a bright, committed and passionate individual who shows high levels
of initiative and numeracy and is looking for a varied finance role. The candidate, as a key

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member of the finance team, needs to be confident in dealing with non-financial stakeholders of
all levels, be able to solve problems proactively and have a capacity and desire to learn. The main
responsibilities of this role are split between running our month end/management accounts
processes, quarterly re forecasts and reporting as well as some ad hoc duties. The candidate shall
also be fully responsible for the financials of a couple of the company’s stand-alone entities.
Knowledge on Oracle NetSuite is preferable but not essential. The skills that is required for the
aforesaid position is the applying candidate should be experienced and fluent user of NetSuite
ERP highly advantageous i.e. ability to quickly learn systems if applying without prior experience
of NetSuite; achieved or close to achieving a recognized accountancy qualification (CA/CPA or
equivalent), maximum 2 years post qualification experience (Preventive Controls Qualified
Individual: Roles and Responsibilities, 2019). It also demands for an individual having an
advanced excel user and very experienced in other MS Office packages along with these the
candidate should be highly numerate, good communicator, a proactive, a problem solver having
good organizational skills with the ability to multi-task. The company is looking for a team player
with the ability to work within a small and dynamic team with strong prioritization and time
management skills, with the ability to work to deadlines.
MPC Kinetic posted a recruitment notice at ‘indeed’ seeking an experienced accountant” to join
their Financial Reporting team. The company wants the person to have necessary qualifications
to handle the job responsibilities which include identification, summarization and correctly
recording of financial transactions in the books of accounts of the company (SIMNETT, 2017).
Key roles, tasks and responsibilities associated with the job advertisements:

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It is clear from the above discussion that most of the companies want experienced candidates to
apply for respective jobs. The importance of experience is key to discharging the duties and
responsibilities of the given jobs advertised by the companies. The accountants including tax and
corporate accountants are expected to prepare income tax returns, FBT returns, file annual
accounts and other records of the companies on or before due date. Considering the impact of
globalization it is essential for the candidates to have substantial knowledge in international
accounting standards (IAS), International Financial Reporting Standards (IFRSs), and domestic
accounting standards, i.e. AASBs in case of Australia. Thus, the applicants must have necessary
knowledge on these standards to discharge their responsibilities as accountants of respective
companies. In addition to knowledge of accounting standards the tax accountants must also have
knowledge about income tax provisions applicable in the country along with provisions of FBT,
GST and other taxation matters relating to the affairs of the companies which published the
advertisements on different platforms.
Another important skill required by the accountants is the ability to communicate effectively
with the other employees and management personnel. The ability to communicate the matters of
importance to the roles and responsibilities of the accountants is essential in ensuring that the
duties are correctly segregated and discharged to achieve organizational objectives (Barry,
2017). Informing the management about the current accounting issues within business
organizations is crucial to the overall responsibilities of accountants. Ability to communicate
effectively will help the accountants to disclose the issues within an organization, i.e. specific to
accounting and financial reporting environment is crucial for the modern accountants.

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Critical examination of skills, experience and attributes keeping in mind the additional
attributes and topics missing from MPA unit:
Numerical skills are the most basic skills required to be possessed by the accountants to carry out
their basic responsibilities as accountants. The ability to analyse and explain the numerical data
accumulated from accounting records is key to the job of an accountant thus, the budding
accountants must have the skills and knowledge required to analyse and explain the numerical
data to assess the state of affairs of an organization from its accounting records.
The accountants are also expected to have patience to give attention to each and every single
detail in relation to the accounting environment of an organization. Attention to detail will help
the accountants to identify even the smallest of errors and mistakes in accounting and financial
reporting of an organization. Thus, attention to detail is one of the most important factors that
help accountants to identify errors and mistakes which is crucial for an organization and its
reporting structure.
Sound organizational skill is another important and crucial skill looked for by the organizations
in their accountants. This is because often the accountants are given responsibilities which are
directly associated with the management of an organization such as payment to be made to
different managers and employees for certain matters relating to the organization. Only an
accountant with sufficient organizational skills can use the necessary experience and judgment to
determine whether if any and how much payment should be made to the managers and other
employees for different purposes.
Ability to control the resources and minimize the expenditures is again one of the important
skills required from accountants to discharge the roles and responsibilities of an accountant

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effectively. Rigidity in payments and disbursements yet flexibility in ensuring that the operations
are carried out non-stop is another crucial skill expected to be possessed by the accountants. The
organizations look for such individuals who have the ability to be rigid when it comes to
payments but without compromising on the continuity of business operations.
Ability to use modern day information and technology equipment along with accounting
packages to correctly record and summarize financial transactions is extremely crucial for the
new generation accountants. Thus, students who are aspiring to be accountants in the future must
have significant knowledge in handling modern information and technology equipment along
with new systems and software to correctly record, summarize and classify financial
transactions. Numerous tax software have also been developed by different organizations.
Accountants and specifically tax accountants must have necessary skills and knowledge to use
these software and system to discharge the duties and responsibilities of accountants in the
modern day and age.
Outstanding communication skills shall help the candidates to effectively communicate the
matters related to accounting and tax affairs of an organization is crucial to the role of an
accountant in modern business organizations. Thus, accountants are also expected to have
outstanding communication skills to communicate these matters to the governing bodies of an
organization to ensure compliance with these matters (Bhasin, 2015).
The roles and responsibilities of accountants are continuously changing with each passing day
due to the ever increasing use of information and technology in the field of accounting. It is
important for the accountants to keep on up-dating their knowledge and professional skills to be
relevant in the future.

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Conclusion:
Taking into consideration the discussion above it is clear that the job of an accountant in modern
day and age is extremely challenging and requires an accountant to possess number of different
skills and knowledge. The importance of keep on up-grading the knowledge of accounting
standards and taxation matters is crucial in ensuring that the accountants are capable in
discharging the roles and responsibilities of accountants in modern day organizations. Keep track
of new developments in accounting standards and taxation matters, reading the new
pronouncements issued by the accounting standards board is essential for accountants to acquire
significant knowledge and skills to discharge their responsibilities as accountants.
(Wood and Callaghan, 2018)

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References
Barry, K. (2017). Roles and Responsibilities. Rehabilitation Nursing, 13(2), pp.56-56.
Bhasin, M. (2015). Survey of Appropriate Skills Required by Forensic Accountants:
Empirical Evidence from a Developing Economy. SSRN Electronic Journal, 2(2), pp.17-24.
Chapple, S. (2016). Book review: Aiming for Global Accounting Standards: The
International Accounting Standards Board, 2001–2011. Accounting History, 21(2-3),
pp.364-365.
Faculty Roles and Responsibilities. (2018). Higher Education Abstracts, 48(2), pp.96-98.
Felicia Ogonnia, N. and Gloria Mgboyibo, E. (2015). A Comparative Study of the
Perceptions of Accounting Educators and Accountants on Skills Required of Accounting
Education Graduates in Automated Offices. World Journal of Education, 5(5), pp.15-20.
Financial Accounting Standards Board proposes new accounting standards for nonprofits.
(2015). Nonprofit Business Advisor, 2015(310), pp.5-8.
Hall, L. (2018). Harmonizing International Qualifications of Accountants - Steps Toward
Reciprocity in a Global Profession. SSRN Electronic Journal, 03(03), pp.121-220.
Howieson, B. (2017). The Phoenix Rises: The Australian Accounting Standards Board and
IFRS Adoption. Journal of International Accounting Research, 16(2), pp.127-154.
JUBS, C. and HOUGHTON, K. (2017). The Australian Auditing and Assurance Standards
Board after the Implementation of CLERP 9. Australian Accounting Review, 16(43), pp.18-
27.

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Lal Bhasin, M. (2018). Survey of appropriate skills required by forensic accountants:
empirical evidence from a developing economy. International Journal of Accounting and
Economics Studies, 2(3), pp.03-18.
Meyer, M. (2018). Qualifications and Skills Required for Performance
Improvement. Journal of Healthcare Management, 63(6), pp.427-444.
Preventive Controls Qualified Individual: Roles and Responsibilities. (2019). Cereal Foods
World, 01(01), pp.18-22.
SIMNETT, R. (2017). A Critique of the International Auditing and Assurance Standards
Board. Australian Accounting Review, 18(43), pp.28-36.
Wood, G. and Callaghan, M. (2018). Communicating the Ethos of Codes of Ethics in
Corporate Australia, 1995–2001: Whose Rights, Whose Responsibilities?. Employee
Responsibilities and Rights Journal, 16(5), pp.209-221.