Accountants skilling up

[DXB2OZ]

Hi to all my fellow "bean counters" ?,

As part of the preparation process I have been doing some updating of skills and one of my studies as been the first tax course (CTA1) through the Australian Tax Institute - I will admit one of the primary attractions was the fact that they offer distance learning. While I found it hard going, it was incredibly interesting and I learned a LOT. Results will be out soon and then (if I pass), I would like to sign up for the next round.

I would love to hear from others on the ground - did you do any studies/conversion courses before arriving or just after? What was the most useful? Very importantly - what did potential employers look for?

Very excited, but very nervous about entering a very different job market and want to be as prepared as possible. Also to help my own knowledge that I can do the job properly.

Best wishes

[mittwelt]

Hi to all my fellow "bean counters" ?,

As part of the preparation process I have been doing some updating of skills and one of my studies as been the first tax course (CTA1) through the Australian Tax Institute - I will admit one of the primary attractions was the fact that they offer distance learning. While I found it hard going, it was incredibly interesting and I learned a LOT. Results will be out soon and then (if I pass), I would like to sign up for the next round.

I would love to hear from others on the ground - did you do any studies/conversion courses before arriving or just after? What was the most useful? Very importantly - what did potential employers look for?

Very excited, but very nervous about entering a very different job market and want to be as prepared as possible. Also to help my own knowledge that I can do the job properly.

Best wishes

Hi! I registered with the IPA as a member and when I arrive, they offer extension programmed to new foreign members! Will let you know. Also very excited!!!

Lol.

[Guest May]

I hear CTA1 is the way to go so will see next year

[ArnoW]

This post has me worried. I have not done any conversion courses yet, so I do not have a knowledge of Australian Tax law yet. I will definitely do it but time is not on my side to still complete it while in SA; I will have to do once I have arrived in Australia. I am coming over a few months before my partner, so I will have time to study - it will help time go by until he can join me (in the evening after work at least!). But what I am worried about is that I will not find a job in the first place if I do not have an Australian Tax background. I suppose I will then have to apply for jobs where tax is not a pre-requisite until I have the necessary knowledge...

Makes me think I should rather have postponed my CIMA studies and have taken up CTA1... too late for tears though. Time for action!

My hair is going to be thoroughly grey by the time this process is done and we are moved and settled on that side! It feels like there is something that freaks me out every day and that makes me want to reconsider this whole thing. I suppose that is normal - but come hell or high water I am going to make it work.

....and apart from that, $1300 is a bit tough on the South African pocket, especially with all the expenses that is looming regarding the final move.

[4viljoens]

I have registered for my CPA SA exam which I will write on 10 May 2014. I was planning to do the CTA1 after that. Luckily my employer is paying for my CPA exam, but I will have to pay the CTA1 myself as it has nothing to do with my current employment in SA. How long is the CTA1 course? Was it very difficult?

$1300 is allot of money, but I guess if it opens moor doors in Oz then it will be worth it!

[DXB2OZ]

Mittwelt, am I correct in thinking you are a CA? Unfortunately, I fall into the "part qualified" category, so am thinking of contacting CPA Australia and finding out what I need to do to get that nice little label.

ArnoW, I found the Australian tax system fairly logical and comprehensive, with a similar basis as the South African tax system (at least as it was 13 years ago, when I left). Have hardly touched any tax for 13 years, had only a few weeks to study (it is a six week intensive course) and managed to pass both the tax and the GST challenge piece. I wouldn't worry too much as it does appear that a decent grounding in the SA system will stand you in good stead when it comes to converting.

[HansaPlease]

Arno, I don't think CIMA was a waste. My wife is CIMA qualified and has done just fine in Aus for the last 7 years. She planned to convert when she got here, but as it turns out she didn't really need to. Of course it depends on what you want to specialise in, but "only" having CIMA is not too bad employment wise, going from her experiences. It's more about getting that first job, making contacts and proving yourself.

Edited January 23, 2014 by HansaPlease

[ArnoW]

Im am so stressed about this whole job thing! I am still busy with CIMA. Now at Level 2 (Management Level). But I have a postgraduate B.Compt Honours Accounting Sciences degree and have 15 years work experience. Hope that counts for something because it seems Australians are very much focused on CPA... I just pray I find something with my qualification and work experience!!

[DXB2OZ]

Hi Arno,

I see from your post that you are planning on arriving in July - us too. I have a friend who is also an accountant in Melbourne and she said it is perfect as we will arrive just after financial/tax year end. Her suggestion, which I fully intend to follow, was to focus on short term contract or temp work initially, as there will be a lot of it around.

While this doesn't offer security, it is a great way to store up some of that elusive "local experience" that is so desirable on your CV. What I like is that it should give a great opportunity to cram a lot of very varied experience into a very short time, which should aid in the search for a more permanent position.

Fingers crossed and happy landings!

[4viljoens]

Hi!

Apparently Accountants have been flagged on the SOL!! My agent said I shouldn't worry about it, as it's been an occupation flagged on the SOL for a couple of years. Apparently they cannot remove it from the SOL because of the influx of students going to Australia to study accounting. But I am concerned, as I don't know if we will be in time to lodge an application before 1 July 2014!

Is it true that there is an overflow of Accountants in Australia currently, and how difficult will it be to find work?

[heidim]

We used migrate2oz to get here on accountant SOL. Last week they sent a letter to everyone on their database to warn that they believe accountant will be removed this year. It's been flagged for a few years. It was flagged when we applied 2years ago and we were worried that it was going off but the agent said he didn't believe it would go off the list that year. He was right. As far I understand studying accountancy has nothing to do with the SOL as students come over on a study visa not a skilled visa. Accounting jobs are very hard to come by in Brisbane. That is just an opinion based on a few people we know who have struggled to get accounting jobs. Please don't make decisions based on my opinion, just bare in mind it may take some time.

If you're worried, I suggest you contact migrate2oz and have a chat with them. Ray is an accountant (CA and ICAA) himself and he will most definitely know what is happening with accounting.

Edited February 10, 2014 by heidim

[4viljoens]

I am freaking out a bit!!!!

Heidim, we are also with Migrate2oz. I spoke to Reuven and he assured me not to be worried, but I will speak to him again.

Brisbane was our first choice, but I guess before we worry about location we should first sort out the visas!

Thanks!!

[heidim]

That's funny because the email came from Reuven. Maybe he believes you'll be in time for 1July. Pm me your email address then I will forward you the email we received.....

[ArnoW]

Seems like the accountant community does not agree with the proposed change.

https://www.acacia-au.com/accounting-removal-from-sol-2014.php

What do the Accounting Professional Bodies Think?

CPA Australia and The Institute of Chartered Accountants have released a joint submission to the Minister of Immigration on this issue. In this submission, they argue very strongly against accountants being dropped from the SOL.

In this submission, the professional bodies state that the job market for accountants remains strong. To remove accountants from the SOL would be too severe a measure, and instead they suggest that a higher points score be required for accountants.

Edited February 10, 2014 by ArnoW

[4viljoens]

Lets hope they don't drop Accountants from the SOL!!!!

I spoke to my agent, and we should be on time...... hopefully......

[Elliottdean]

@DXB2OZ

I am in the process of registering for the CTA 1 course. I have my CIMA qualification for a while already but a very Manufacturing Accounting backround (not so much statutory finance)

Is the course do-able online as i cant really wait until I'm in oZ (around September 2014) to do classes.

Would like to hear opinions on the Brisbane job market too as it does look a bit tight to me.

regards

[DXB2OZ]

Hi Elliotdean, I did the course in Dubai, having never touched any Aussie tax. It is absolutely doable on line - found it very interesting and well laid out.

Would check up on their remote exam procedure and see if you can organize to meet their requirements with regards to venue and invigilator - that was one of the most difficult bits for me.

[Elliottdean]

Thanks, will def look into that.

[Waylander]

Hi everyone, I am in the same boat here - starting to plan for the move. The OP asked if there are any benefits wrt employment in getting the CTA1 - don't think I saw any responses addressing that?

I looked on the ICA website and they indicate that a conversion course MAY be necessary (conversion consisting of Tax and Corporate Law) for a CA(SA) to become an Aussie CA.

Have any SAAForumite CA's joined the ICA or equivalent? - and is it worth it in terms of employment prospects?

If it the answer is a definite YES then can anyone recommend courses to do while here in SA that will enable an easy conversion to an Australian CA?

[Splinky]

Hi Waylander. My hubby is a CA(SA) and has just passed his CTA1 exam now in June. We heard from his accountant buddies in Aus that this would possibly give him more of an edge when applying for jobs as well as give him a basic overview of Australian tax. However, it is not necessary to do this course to become a member of the ICCA. To do this you need to get recommendations from 2 Aus CA's after working in Aus for a 2 year period. Hope this helps you!

[Waylander]

Thanks Splinky - seems like *sigh* I will have to cough up for the course - it should be worth it though if it helps even slightly to get that first job.....

[Elliottdean]

HI Waylander

Don't feel alone, I have just registered for the CTA1 course (distance learning) and start on 5 Aug 2014.

Sign up and we can collaborate :-)

cheers

Dean

[Waylander]

Thanks Dean, but having just looked at their website I see that I miss the "early bird" discount of R1,200 if I join now - I am only planning on going to Aus late next year - so I will register for the next session in November.

Good luck - let us know how you get on!

[CGP]

I never did a conversion and managed to get by without one. It won't hurt and I should probably get to it someday. If you haven't done it, don't panic - the Aussies place a lot of emphasis on Aussie experience, so I don't think that it will mean much to them if you have only done the bookwork. The first Co that I worked for here had a tax department and the current job has a tax practitioner who does the annual tax. I am left with the BAS, which is substantially the same as VAT submissions, except perhaps a bit easier.

Regardless of whether you have a tax conversion or not, you'll be at the bottom of a steep learning curve because tax is quite different here - especially FBT which I am still unsure about and it seems to pop up everywhere.

The jobs you get to apply for will be limited because of tax experience/knowledge, but there will be opportunities in areas like management accounting where tax is less applicable, or like me where there were tax depts. / advisors to cover for me. I admitted up front that that knew zilch about Aussie tax and let the employer decide.

[Riekie]

I think the job market is flooded with accountants at the moment. We advertised for an assistant accountant role and within minutes the applications started coming non-stop! Within 3 days we had 294 applications! We had to cancel the ad! We had people with honors degrees and who were clearly over qualified apply for this role. This was in Sydney two months ago - maybe the situation is different in other cities or in regional areas. Just thought I should mention it.