In
a Competitive
Global
Accounting &
Commerce Industry…
JCU
Gives Students
Cutting-Edge
Advantage Through
Personal Skills
By Professor
Brendan
O'Connell, PhD
Monash, CPA,
CMA, ASIA
School of Business,
James Cook University
brendan.oconnell@jcu.edu.au
There
is a global
shortage of
accounting and
finance personnel
that is expected
to continue
for many years
to come. This
scarcity of
qualified professionals
reflects the
need for companies
that operate
in increasingly
competitive
markets to have
timely and relevant
financial information
to support management
decision-making.
The result of
this shortage
has been an
increase in
salaries worldwide
and many western
countries such
as Australia
giving priority
for immigration
to people who
are trained
in this area.
But what does
it take to really
succeed in the
world of high-finance?
Is career success
guaranteed?
I will now discuss
these key questions
with reference
to my experience
of the Australian
and US markets
and how we,
at James Cook
University,
are preparing
our graduates
to succeed in
the accounting
and finance
fields.
Success in the
accounting and
finance professions
requires a blend
of important
skills, both
technical and
personal. The
technical skills
required include
a strong understanding
of the foundations
of accounting
such as the
conceptual framework
and debits and
credits together
with knowledge
of the international
accounting standards
which have become
mandatory in
many countries
over the past
few years. The
move toward
international
standards by
many countries
is good news
for students
as not only
will it mean
that people
with this knowledge
will be able
to work across
many countries
but the move
will also enhance
the comparability
of financial
reports of companies
worldwide. It
should also
be noted that
in the past
20 years the
world of accounting
has moved away
from a focus
just on book-keeping
to the much
higher value-added
area of analysis
and interpretation
of financial
reports.
My experience
of teaching
accounting in
Australia, the
US, Hong Kong
and Singapore
over 15 years
is that many
students do
develop quite
good technical
accounting skills
but for many
students their
downfall can
be in the area
of personal
skills. What
I mean by personal
skills is the
capacity to
communicate
at a high level.
Accounting and
finance professionals
are essentially
advisors to
senior management
and business
people. It follows
that they must
be able to write
and present
in a way that
will instil
confidence in
management that
this professional
is valuable
and worthy of
a high salary.
Recent research
by CPA Australia
indicates that
the greatest
barrier to new
entrants obtaining
the best jobs
in the accounting
profession is
perceptions
by employers
that some students
are sadly lacking
in the communication
skills area.
At James Cook
University we
pride ourselves
on ensuring
that our graduates
are well prepared
in the critical
area of communication
skills. Our
class sizes
of 15-30 students
are small when
compared to
the large, capital
city universities
thus fostering
more interaction
between teachers
and students.
Furthermore,
we embed into
the curriculum
and assessment
various techniques
designed to
ensure that
students develop
their communication
skills to a
high level.
For example,
class presentations
by students
to their peers
are common.
|
"I
am studying
the MPA
at JCU
and having
a great
time.
The lecturers
are friendly
and helpful,
the class
sizes
small
and the
course
content
is very
interesting.
I have
already
found
good employment
in Townsville
and made
lots of
new friends.”
- Pallavi
Barat |
|
|
James
Cook University
is located in
the booming
cities of Townsville
and Cairns.
These locations
provide a large
benefit to students,
especially those
who have come
from overseas,
in that they
will be exposed
to the “real”
Australia which
significantly
enhances their
English communication
skills. My experience
indicates that
many students
from India flock
to the big universities
in Melbourne
or Sydney. In
my view, this
can be a mistake
for many of
them. This is
because they
will typically
end up in large
classes that
predominately
comprise of
other students
from India and
China. Moreover,
they end up
primarily living
and communicating
with people
from the same
country, often
in their native
language. The
result is that
after a couple
of years of
study many of
these students
have failed
to develop their
English communication
skills and cultural
understanding
to a level that
will enable
them to compete
for the better
jobs. They really
have missed
out on much
of the benefit
of an overseas
education! At
James Cook University
this is not
likely to occur
as our classes
have a healthy
blend of local
and overseas
students meaning
they will mix
with the locals.
This location
gives them an
edge over those
graduates from
the capital
city universities.
Our flagship
accounting program
at James Cook
University is
the Master of
Professional
Accounting (MPA).
It is fully
accredited by
CPA Australia
and the Institute
of Chartered
Accountants
in Australia
and will lead
to an outstanding
career in accounting
either in Australia
or overseas.
It is open to
graduates of
all disciplines
and consists
of 12 subjects
in total. There
is also an MPA
Advanced or
combined MPA/MBA
which are both
16 subjects.
If you would
like to learn
more about these
programs please
visit the following
site:
Http://www.jcu.edu.au/flbca/public/business/mpa.shtml
