If you need to hire a company accountant, but want to ensure that you are hiring the best, then strongly consider hiring a chartered accountant. Not every accountant has the same skill set and level of training, and not every accountant can become a chartered accountant.
For those wanting to become distinguished as chartered accountants, the education does not end with a university diploma. One of the primary qualifications of the title is that they must complete the rigorous five-module Chartered Accountants Program course offered only through the Institute of Chartered Accountants Australia. The modules are listed as follows:
- Taxation (TAX): a 12 week course that offers units in trading stock, small business entities (SBE) and international taxation issue, among others
- Audit and Assurance (AAA): a 12 week course that offers units in case study, current and future trends, pre-engagement activities, and analysing audit risks – fraud, among others.
- Financial Accounting & Reporting (FIN): a 12-week course with units that include foreign exchange, accounting for subsidiaries, and intangible assets, among others.
- Management Accounting & Applied Finance (MAAF): a 12 week course that includes units in activity based costing and management, working capital management, and analysing business operations, among others.
- Capstone Module (CAP): a 14-week course that includes units in behavioural ethics, integrating technical knowledge and professional skills, and engaging in lifelong professional development, among others.
Before an applicant can even apply for registration to this rigorous program, however, he or she must already be employed in an accounting position with an approved employer and be currently mentored by an Australian Chartered Accountant. Additionally, they must already have a Bachelor or Master’s degree in Accounting. There are exceptions, however, they are rare.
Why settle for a standard accountant to handle the finances of your life’s work? A chartered accountant has more real world knowledge and intense, advanced education. Just as important is that, when you hire a chartered accountant, you are getting the experience of not only the person you are hiring, but the vast knowledge of the distinguished group to which they belong.