Today’s job market is highly competitive with hundreds of people applying for a single position in most cases.
If you go through the job advertisement you will find in most of the recruitment advertisements, it includes ‘with experience in….”. Companies in Australia and other parts of the world prefer graduates to have some sort of practical accounting training or exposure.
As a recent accounting graduate, the theory makes you knowledgeable but unless you know how to implement the knowledge in a true working environment, you are not ready to become a successful accountant.
One of the best ways to stand out from the crowd and show you have proper dedication in the accounting field is to gain practical accounting training.
In colleges and Universities, you read different theories and concepts of accounting which helps to increase your theoretical knowledge. All the examples and cases completed are developed in a perfect scenario and you are just required to give correct answers to the questions.
But when you go to the real working environment and get exposed to real-life scenarios the situation is completely different. The theoretical knowledge alone is not enough for you to become a successful accountant.
Let’s take an example of how one learns to swim. Just reading books on how to swim does not make you able to swim. You need to get proper advice from an expert, and you should actually dive into the water to learn to swim. Similarly, in the accounting field both theoretical and practical knowledge should go hand in hand.
If you have Practical Accounting Training from accounting professionals along with your university degree, you are already one step ahead of others. There are various benefits of taking practical accounting training including:
1. Increases Employment Opportunities
Companies today prefer candidates with practical experience as it takes a lot of time and effort for the companies to train the person for the job.
With the increasing competition in the accounting job market, employers have the option to make a choice between candidates with experience and candidates who do not have any training and experience. In this case, any employer would choose a candidate who has practical experience in accounting.
2. Build a Stronger Resume
As per the statistics, on average every corporate job opening attracts 250 resumes. But only 4 to 6 of these people will be called for the job interview and only 1 will be offered a job. In order to make your resume stand out among others, you can tailor your resume to the specific accounting job by including the accounting training and experience you have relevant to the job.
3. Enhance analytical skills
Good analytical skill is one of the important characteristics of successful accountants. Analytical skill is very useful to solve problems, make a business decision and provide recommendations to clients and management. All this can be gained from practical training in accounting. The probability of hiring candidates with analytical skills is more as this helps them to excel in their job.
4. Better Understanding of theoretical knowledge
Practical Accounting Training programs help to better understand the theoretical knowledge that students have gained from their college or University degrees. For instance, you read about journal entries, ledgers, trial balance and financial reports. But you may find it difficult to apply the theoretical knowledge in practical scenarios.
Accounting training program helps to apply the theory in real-life scenario. It acts as a bridge between theoretical and practical knowledge.
For example, you graduated a year ago and you went on holiday. Then you came back and started to look for a job. There is a high chance that you may forget what you have studied a year ago and it might be difficult for you to start the accounting job.
In this scenario gaining practical accounting training helps you to be updated and provides necessary accounting training to make you job ready.
5. Provides clarity to career option
Job Ready Accounting training helps to sharpen accounting skills and provides exposure to various parts of accounting like accounts receivable/ payable, payroll, financial reporting, and many more.
This exposure will help the graduates to understand how the accounting process works and provide a clearer idea of which part of accounting they want to pursue in their accounting career.
6. Hands-on knowledge of popular accounting software
Leading accounting training providers provide knowledge on the popular accounting software which helps the graduate to be familiar with recent accounting software.
In many of the Australian medium to small-sized companies the popular accounting software are Xero and Myob. Xero and Myob training help the graduates to understand how accounting software works and learn different features.
What if you do not have Accounting training?
After the discussion of the importance of accounting training, now the question may arise what if you do not have accounting training?
- You may be good in academics but due to a lack of Accounting training you may not be able to relate theoretical knowledge to practical scenario;
- It reduces the chance of getting good accounting jobs;
- Without accounting training, even if you get a job you may find it difficult to understand and perform your task which may impact your job performance.
Where to find quality practical accounting training?
BLC Internship News is a leading training provider focused on enhancing and developing your career! The Job Read Accounting Program offered by BLC Training and Internship provides you technical skills and soft skills required for the accounting roles in Australia. This program is well-suited to recent accounting graduates, professionals contemplating a career change, and migrants looking for Australian Accounting experience. To find us more and our offerings, please visit: Blue Lotus College or call +61 (03) 9349 2513 to speak to one of our friendly staff members.
Practical Accounting Training helps students gain information and exposure to real-life scenarios which is not enough from a University level education. Accounting training helps to sharpen your accounting skills and makes you more familiar with the accounting industry. It increases your chance of getting accounting internships and jobs.
If you really desire to have a good accounting career it is very important to be up to date with the industry and get yourself equipped with all the required accounting training. Do not hesitate to invest in yourself for your career development. The little investment you make today in your training will give you maximum return in the future!