Ɣ How to become an accountantAccountants prepare financial accounts for businesses and individuals. They also advise on financial matters, such as tax and reporting compliance requirements.

Being a chartered accountant gives you a base of knowledge to have a successful career in commerce, business and finance. Many of New Zealand’s largest companies have chartered ac-countants as chief financial officers, and some charted account-ants are chief executives.

Qualifications needed

Accountants usually require a commerce degree majoring in accounting or finance.

Most people working as accountants are also members of the New Zealand Institute of Chartered Accountants (NZICA), as employers prefer this.

To become a chartered accountant you need to:

• complete a three-year degree at an NZICA-approved tertiary institution AND

• undertake the Chartered Accountants Program, which includes five modules of further study, plus practical experience OR

• complete the Master of Professional Accounting (Accountancy) offered by universities (this is done after completing a bachelor’s degree – which need not be in commerce).

Cost of study

Bachelor of Commerce Chartered Accountants Program

$18,600 over three years $7,400 ($1,480per module)

Average costs in 2015/2016 for a domestic student. Costs vary between institutions. Further costs include materials, textbooks, and accommodation.

Rents vary from place to place. Estimated market rents by re-gion, city and suburb are available on the MBIE Tenancy Services website.

The StudyLink website provides general budget advice for students, and the Sorted website provides help with detailed budget planning.

→ Tenancy Services: www.tenancy.govt.nz/rent-bond-and-bills

→ StudyLink: www.studylink.govt.nz

→ Sorted: www.sorted.org.nz/calculators/money-planner

Where to study

Accounting and finance can be studied at tertiary institutions throughout New Zealand. If you are looking to become a char-tered accountant, you’ll need to study at an approved tertiary institution. A list of these can be found on the NZICA website.

→ NZICA-approved accountancy programmes: www.nzica.com/Students/Tertiary-study/Where-to-study-to-become-a-member.aspx

Completed qualifications

The number of students completing accountancy qualifications has been relatively steady over the past few years, increasing from 1,360 to 1,455 between 2012 and 2014 (up 7.0%).

Source: Ministry of Education

Num

ber

of s

tude

nts

com

plet

ing

qual

ifica

tion

0

500

1,000

1,500

2,000

2006 2007 2008 2009 2010 2011 2012 2013 2014

Diploma Bachelor's Degree

ACCOUNTANTSJOB PROSPECTS

- +FEES

- +INCOME

- +

JOB PROSPECTS The outlook for a career in accounting is good, and should remain so because of growing demand for accounting services.

This career usually requires a degree, but your job prospects are better with membership of the New Zealand Institute of Chartered Accountants. Becoming a chartered accountant requires work experience and some further study.

Accounting software has yet to impact on demand for experienced chartered accountants with well-developed skills.

There are also opportunities to work in accounting at more junior levels and progress by undergoing further education while working.

At a glance

SERVICE INDUSTRIES

Ɣ Income and employment prospectsIncome

In 2015, the average income for accountants was estimated to be $79,700, but not all of these people will be chartered account-ants. The average salary for registered chartered accountants is $140,700.

Estimated average income

$79,700

Average income from Statistics New Zealand’s June 2015 New Zealand Income Survey. Estimated from average hourly earnings.

Graduates with a bachelor’s degree in accountancy earned $42,150 one year after their study ended. After five years, income had increased to $61,600.

→ www.universitiesnz.ac.nz/studying-in-nz/fees

→ www.nzica.com/CAtimetable.aspx

Median earnings after qualification completion

One year Two years Five years

$42,150 $45,800 $61,600

Source: Ministry of Education

Employment and skill shortages

Accountants’ employment

Current Projected growth

2013 2014 2014–19 2019–24

30,10031,100up 3.5%

3.4% 3.0%

Demand for accountants is expected to keep rising as the economy continues to improve. Many accountants leave New Zealand to work overseas, which also creates vacancies.

Source: MBIE Estimates

Accountants are on Immigration New Zealand’s immediate skill shortage list. If a job appears on the list, it means the govern-ment is actively encouraging skilled people in the role to come and work in New Zealand. A full list is available on the Immigra-tion New Zealand website.

→ Immigration NZ, skill shortage list: skillshortages.immigration.govt.nz

Where to find job vacancies

The number of online job vacancies for accountants increased by 1.9% from September 2014 to September 2015, compared to an overall increase of 1.9% for all vacancies over the same period.

Accountancy vacancies are advertised through public media such as the Trade Me Jobs, and Seek websites.

→ Trade Me Jobs: ww.trademe.co.nz/jobs

→ Seek: www.seek.co.nz

Career path

A career in accountancy is more diverse than many people think. Accountants work in a range of industries including government, law, fashion, entertainment and advertising.

After fundamental skills are learned, accountants often look to specialise into roles such as:

• Financial planner

• Auditor

• Chief financial officer

• Tax specialist

• Forensic accountant.

Ɣ Other informationLinks

More information on accountancy is available on the Careers New Zealand website.

→ Careers New Zealand: www.careers.govt.nz

More information on becoming a chartered accountant is avail-able on the NZICA website.

→ NZICA: www.nzica.com

Empl

oym

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Estimate Forecast

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

2009 2014 2019 2024

SERVICE INDUSTRIES

ACCOUNTANTS