ASA+ 2022 Annual Publication by Accounting Students Association Macquarie University

ACCOUNTING STUDENTS ASSOCIATION

20 22 MAKE THE MOST OF YOUR DEGREE CAREER BUILDING TIPS AND TRICKS JOB OPPORTUNITIES

ASA+ A N N U A L P U B L I C A T I O N

Contributors Aisha Jalal Angus Ng Angellene Porral Audrey Liang Cheryl Kwon Chwen Sern Sin Claire Ho Damian Sutrisno Elly (Jingrong) Zhang Hamza Siddiqui Iris Ongkingco Jonty Kingham Joshua Thong Layton Oh Lavina Chen Mariah Charisse Miclat Matthew Leung Michael Tran Myuri Kuganathan Sammi Chung Shakell Seymour Siddharth Tatikonda Simran Kaur Hothi Sze Kay Wong Vinu Karunasinghe

Editors Elly (Jingrong) Zhang Kevin Tran Cheryl Kwon Sabrina Diep Myuri Kuganathan Jayashini Muputugala

Designs and Layout Cheryl Kwon Jayashini Muputugala Keanna Lau Arnav Gandhi Myuri Kuganathan

Special thanks to Grant Thornton SW Australia Chartered Accountants ANZ RSM Australia

Disclaimer The views and opinions expressed in this publication do not necessarily represent those of the Accounting Students Association or Macquarie University. Although the Editors have taken every care in preparing and writing the Guide, they expressly disclaim and accept no liability for any errors, omissions, misuse or misunderstandings on the part of any person who uses or relies upon it. The Editors, Accounting Students Association and any persons related to this publication accept no responsibility for any damage, injury or loss occasioned to any person or entity, whether Accounting Students Association members or otherwise, as a result of a person relying, wholly or in part, on any material included, omitted or implied in this publication. Accounting Student Association

ACKNOWLEDGEMENT OF COUNTRY Accounting Students' Association acknowledges the Traditional Custodians and Rightful Owners of country throughout Australia and their inextricable connections to land, sea and community. This land on which Macquarie University rests belongs to the Wattamattagal Clan of the Darug nation, whose culture, customs, norms and way of life have cared for this land since the Dreamtime and continue to. We pay respect to their Elders past, present and emerging and extend that respect to all Aboriginal and Torres Strait Islander peoples today.

Accounting Student Association

iii

CONTENTS

I II 1 2 3 11

25 29

Publication Credits Acknowledgement of Country President's Welcome Editors' Note ASA & You 4 6 9

Joining the ASA Sub-Committee Meet the Executives

2021 & Technology 12 13 13 15 17 19 20 21 22

Technological Shift Interview with Grant Thornton Information from Grant Thornton Personal Development and Upskilling Interview with SW Interview with RSM Information from RSM Staying Motivated Mental Health

ASA Events Review Sneak Peak: Careers Guide 30 30 33 35 37

Accounting Student Association

Who, What, Why ASA?

Getting Accredited Chartered Accountant Information from Chartered Accountants Australia and New Zealand Certified Practicing Accountant Association of Chartered Certified Accountants iii

PRESIDENT'S WELCOME

Welcome to the 2022 edition of ASA's annual publication! This was compiled by a group of dedicated and hardworking students with the purpose of highlighting the numerous opportunities available to their peers at Macquarie University. At ASA, we have personally experienced the highs and lows of university life, and understand the difficulty of figuring out what is next. Our publication is an extension of our mission to help students navigate the transition from high school to university and start their professional

Lastly, I want to say a massive thank you to all our members, sponsors, and alumni for their continual support of ASA and all our endeavours. Following on from a highly successful 2019, where the Accounting Students Association was voted Student Group of the Year, we hope to continue our positive impact on student life and engagement on campus. On behalf of the team at ASA, we can not wait to show you what we have planned for 2022! Happy reading! Elly Zhang

careers. We aim to bridge the gap between professionals and students by bringing you quality content with the much-appreciated help of our sponsors and ASA alumni. Whether you are in the first year of your degree or the last, we hope that this guide is able to provide you with some insights into the range of opportunities and resources available while you are at university.

Accounting Student Association

EDITORS' NOTE While time spent at university is a fond memory and a happy experience for most, university life can also be a huge challenge for students whether they are just starting out or in the last few semesters of their degrees. This may be more so with the difficulties that COVID-19 has brought. Every student’s situation is unique, but there are some problems that almost all university students deal with at least once while completing their degree. University study takes effort, hard work and dedication, but it can be very achievable with plenty of support available. We understand that it is daunting for most students and we hope to relieve some of this stress. After all, this publication has been designed by students for students. ASA's annual publication is full of useful information on how to maximise your time at university, such as joining a society like ASA. We shine a spotlight on COVID-19 and its ramifications for technology, society and the future of the corporate world. Your career isn't the only aspect of your university journey to consider. It's important to enjoy and embrace your university journey and every aspect of it, beyond just your career and studies. This is not the end all, be all! We want this Annual Guide and our future publications to inspire you to step outside your comfort zone, foster your education and professional development, while taking care of yourself. We give an opportunity to look beyond university with our sneak peek at the upcoming Careers' Guide, which tackles the topic of accounting accreditation. Through the dedication of the ASA team, we have done our best to bring you tips and tricks throughout the publication so that you can make the most of university life. ASA wishes all students the best of luck in completing their degree and/or finding a new job. Best Regards, Cheryl Kwon | Marketing Director Jayashini Muputugala | Publications Director

Accounting Student Association

ASA

WHO, WHAT, WHY ASA? About ASA

Student to Business

The Accounting Students Association (ASA) at Macquarie

Formed by a community of passionate and like-minded

University is a faculty-based student society founded in

peers, ASA is a cohort of over 1400 people with an

2010, primarily focused on Commerce and Accounting

executive and sub-committee team of 30+ students who

majors but welcome to all. ASA regularly hosts

are constantly working to improve the university

professional and social events for its members, serving

experience for all students, irrespective of their

as a bridge between our students’ tertiary studies and

background. From domestic to international,

the corporate world.

undergraduate to postgraduate, studying commerce or otherwise, ASA has something for everyone!

Our Mission & Values We are committed to empowering ASA members in their professional endeavours by creating social and professional events, and workshops. Through partnerships with external organisations, we connect our members with industry professionals and resources that enhance their knowledge, wisdom and business

Publications

experience.

ASA publishes an annual resource at the beginning of Our embodied values are Leadership, Growth and

each year, aiming to guide students with helpful

Family. These are reflected in all that we do.

information on relevant topics. Spread throughout these publications is a wealth of material to supplement

Leadership

Developing the initiative for Leadership within

your university experience. Included in these pages are insights into potential career paths, the key stages of the recruitment process, work experience opportunities

Growth Growth

The urge to continually strive for personal and professional growth

and how to maximise your time at university. These will help you build your career prior to even applying for jobs. Starting from 2022, we will be releasing 3 publications: the Annual Publication, Careers’ Guide and

Family

Accounting Student Association

The establishment of a Family and sense of greater community

First Years’ Guide. Keep an eye out for them!

WHO, WHAT, WHY ASA? Events A fundamental benefit that ASA provides to all our

Despite pandemic restrictions, ASA has continued to

members is our social and professional events. These

produce a fruitful year of experiences and events. Our

events and workshops are the basis of our society,

2021 bi-annual Meet & Greet gave both the old and new

allowing students to network with their fellow peers

members the opportunity to gather for free food, fun

and pursue their personal and professional goals.

and interactive games, and speed friending at the commencement of each semester. Online events

The majority of ASA’s events are run in collaboration

throughout the year also featured movie nights and

with external organisations, ranging from the Big 4 to

game nights, where our members continued to interact

mid-tier accounting firms and accounting accreditation

and grow from the comfort of their homes.

bodies, including Chartered Accountants Australia and New Zealand and Grant Thornton. These events allow

ASA’s events also covered several crucial components of

our students to mingle beyond their tertiary colleagues

the professional journey, such as resume building,

and connect with recent graduates, job recruiters,

personal network development, and career path

academics, professional accounting bodies, and

prospects. One highlight is our 2021 service line

industry professionals. Our large network of individuals

discussion panel events we held with SW Accountants

can provide guidance with your career ambitions, help

and Advisors, which delved into the worlds of tax,

you gain new knowledge, and provide skills and

private business client advisory, audit and assurance.

opportunities.

This was followed by an interview workshop with Grant Thornton, providing first-hand advice about the

Along with our professional endeavours, ASA also

interview process with industry professionals. These

greatly values maintaining a work-life balance. Our

aforementioned events are what you can expect from

partnerships with non-professional sponsors allow our

ASA in 2022, and more!

members to relax and refuel during their time off. Becoming a member of ASA grants you access to an assortment of deals, from food promotions to student living with Iglu Accommodation.

Accounting Student Association

JOINING THE ASA SUB-COMMITTEE What is the Sub-Committee? Our Sub-Committee is a collective group of students who

Human Resources

assist in planning, advertising, and managing the society

The Human Resource team serves to ensure the internal

itself and our events. Our task is to help prepare, market

functions of ASA are satisfactory and competent by

and execute professional events, including information

maintaining morale, cooperation and effective member

sessions and interactive skill development workshops, as

relations. They are responsible for recruitment activities,

well as social events, like the Meet & Greet and annual

planning internal social events, and engaging with

charity events.

committee and subcommittee members in relation to their performance and attendance. Joining the HR team

The Sub-Committee consists of the Events, Marketing,

provides an opportunity to enhance interpersonal and

Sponsorship, Human Resources, Publications, Engagement,

organisational skills.

and Design teams. We also have an IT Director. Publications Events

The Publications team is involved in organising ASA’s 3

The Events team serves to create, plan, advertise and

publications.

execute both social and professional events for ASA and

Annual Publication: A year-in-review for the society,

our sponsors. The team is usually led by 2 directors and is

but also gives invaluable insight into a key issue for

the largest team within ASA.

that issue, such as 2021-22’s COVID-19 and Technology theme.

Marketing

Careers Guide: A great tool for easing your transition

The marketing team serves to promote ASA events and

to the professional world. There are tips on

operations by maximising the exposure and attendance of

interviews, the application process and much more!

events in liaison with our sponsors. They are responsible

First Years Guide: Helps you to navigate the new

for creating and distributing marketing materials, updating

environment and empowers you to get the most out

our website and social media platforms, and event

of university.

photography and filming. Team members have the opportunity to come up with Sponsorship

article ideas, research, and write them. This includes

The sponsorship team is responsible for seeking

interviewing with sponsors and other parties!

sponsorships for ASA. This includes finding potential sponsors, updating contract information for sponsors and creating sponsorship contract agreements and invoices. By joining the sponsorships team, individuals gain critical communication skills through the opportunity to liaise with external stakeholders and overlook legal agreements.

Accounting Student Association

JOINING THE ASA SUB-COMMITTEE Engagement The engagement team is responsible for boosting internal engagement within the ASA organisation by upskilling current members through workshops and mentorship. They also foster external personal development through its high school program, which eases the transition to university and offers an opportunity to get a head-start at meeting other ambitious people. By joining the engagement team, individuals will develop a forward-thinking mindset and gain confidence in public speaking

Design The design team creates the majority of ASA’s creative direction, including merchandise and web design. Key responsibilities include assisting in creative projects and collaborating with other ASA committees on general design choices. Members of this team will have a keen eye for design and display confidence in experimenting and collaborating inter-departmentally.

IT Director The IT Director manages ASA’s IT infrastructure and collaborates across the team to foster the growth of ASA’s digital identity and expression. This may include maintenance of ASA’s website, management of internal communication platforms, and administration of security.

Accounting Student Association

Why ASA

How do I join?

ASA is a community that values your personal growth,

ASA Sub-committee applications open during the start

as you are offered the opportunity to contribute to our

of Semester 1 and 2 every year. Information about open

sub-committee, consisting of executive and committee

opportunities is released through our social media. To

members. We are a team of ambitious students,

apply, simply submit your resume along with a written

passionate about opening doors for our fellow

application. This will be followed by a video interview to

colleagues.

understand how you could fit in with the ASA culture. Be sure to check our social media to see when the

By joining ASA, you will be responsible for a series of

application opens!

different tasks allowing you to hone your organisational, communication and time management skills. Immersing yourself in the sub-committee will develop soft skills, such as team collaboration. We give you access to ASA’s events where you can learn valuable skills to give you an edge in the job market and network with potential employers to help further your career. Not only will you develop sought-after skills, but ASA will enhance your CV and create opportunities for leadership, such as progressing to an executive role within the team.

ASA cultivates an inclusive culture by having diverse teams filled with students that come from different experiences and backgrounds. By working around a diverse team, you will be able to meet like-minded students who are passionate about growing their careers and dedicated to their studies. You will get the chance to form meaningful relationships with your peers and socialise.

Looking to just enjoy our events? Join our membership instead! Our membership comes with plenty of perks, including access to our professional and social events where you get the chance to network with fellow students and industry leaders. ASA events are educational and engaging. They are designed to help you learn more about career options in the future and learn valuable skills that are sought after in the current job market. Some of the events that have been previously held by the ASA include ‘Careers Spotlight’ where attendees gained insight into entry-level skills that employers look for, and ‘Public Speaking for Zoom Era’ where students learnt the secret to acing virtual interviews through Zoom and building online rapport.

The membership allows you to gain access to our Discord channel which allow you to stay up-to-date with future ASA events and where we hold game nights. It provides access to ASA content, publication, and career development materials. Plus, once you have the membership, you can step up and apply for the subcommittee!

Sounds like fun? Applying for ASA membership is easy! Just submit a short application form and pay the $5 entry fee that helps fund the events run by ASA. For more details, go to https://asamacquarie.com/membership/ to find out more.

Accounting Student Association

MEET THE EXECUTIVES The executive team plays a crucial role in running ASA through internal & external management, by leading the Marketing, Events, Human Resources, Engagement, Publications and Design teams. The Secretary, Treasurer and IT Director hold key responsibilities in our society too.

Elly Zhang

Damian Sutrisno

Kevin Tran

President

Vice President

Accounting Student Association

Cheryl Kwon

Harpreet Singh

Marketing Director

Events Director

Joshua Thong Events Director

Claire Ho Human Resources Director Accounting Student Association

Chwen Sern Sim

Sid Tatikonda

Jonty Kingham

Secretary

Engagement Director

Treasurer

Audrey Liang

Nicky Chen

Jayashini Muputugala

Design Director

IT Director

Publications Director

Accounting Student Association

2021 &

TECHNOLOGY

TECHNOLOGICAL SHIFT “A process of repairing, rethinking and reconfiguring will bring about the strategic change needed for future hope.” (PwC Australia, 2020)

Workforces are shifting to the digital space Whether you are a student looking to enter into the

Whilst the transition to digital work may be daunting

workforce or are currently working, the impact of COVID-19

and difficult for many students, ASA is here to help

has raised a significant question: How must we adapt?

those looking to find their first job or those looking to upskill and adapt.

A worldwide lockdown, quarantine and pandemic-related restrictions have forced organisations to transition into

The shift to digital work has provided students with the

digital work and reconfigure their strategies. By adapting to

means to develop their skills virtually as there are a

these unprecedented changes, the workplace has moved

vast array of online courses available. It is important to

into the online space which will persist long after COVID-19.

understand what your professional and interpersonal

For most companies, responding to the demand changes

skills are in order to continue developing them. This

involves some digital transformation. For instance, you may

article will provide you with some examples of the

start to see wider acceptance of a hybrid working model,

courses and videos that can be undertaken to enhance

with working from home as well as in the office. According

your professional development.

to a survey conducted by McKinsey & Company (2021) in the US, society has advanced five years in consumer and business digital adoption in a short period of time.

Accounting Student Association

INTERVIEW WITH

the face of COVID-19. It was great to get to know him and see GT through his eyes!

Tell us about yourself. I am a 2019 graduate from Macquarie University, where I studied a double degree of Bachelor of Commerce -

alumni, Michael Barron, highlights the value of a willingness to learn, particularly in

Our informative interview with an Associate at Grant Thornton and fellow MQ

B a rr o n

How has COVID-19 affected your work and how do you envision the future?

Professional Accounting and a Bachelor of Applied Finance.

My intake [and I] was the first intake that fully experienced

Since then, I have worked at Grant Thornton since June 2020

the impact of COVID-19: starting a new role remotely

in the Audit & Assurance team.

straight out of university and working remotely throughout

What do you appreciate about Grant Thornton’s work culture and what sets it apart?

the lockdowns over the last 2 years. I quickly adapted to this new way of working by ensuring effective communication. I communicated regularly with colleagues on jobs and reached out via the various communication

Definitely the different teams you work with when you are

platforms available when I needed support with my work.

conducting audit engagements. This allows you to get to

The flexibility that working from home offers provides me

know more individuals in the audit and assurance team,

and many others in the team with more time to fit in

instead of just working with one team throughout the year.

exercise or other hobbies, whether that would be during

The environment is very friendly and people are very

lunch or in the evening when we would generally be

supportive.

travelling home pre-COVID days. In the future, I would

What is the most rewarding part of your job? I would say the variety of industries and clients you work with, allowing each week to be different to the next. Since

expect working arrangements to become more flexible with some days in the office and remaining days at home.

What do you look for in potential candidates?

my time at Grant Thornton, I have gained exposure to

I would look for candidates who are willing to learn and

clients in industries such as retail, property, financial

happy to give things a try, even if they are not familiar with

services and manufacturing to name a few. By working

them. This shows a strong work ethic, which is crucial,

closely with the client on different jobs, you learn key skills

particularly in auditing, where being a team player is a

and develop your business acumen very quickly, which

necessity in different client engagements. Grant Thornton

helps with continuous improvement as you move along each

has a strong network of experienced individuals who are

audit with the engagement team.

happy to explain key areas and assist you, so having that attitude will provide the best experience for candidates as they look for opportunities post-university.

Accounting Student Association

At Grant Thornton, YOU are at the heart of everything we do. From day one, you will be empowered to build a career that is truly your own. We’ll support you every step of the way with access to top-notch training, remarkable leaders and a culture that will inspire you to reach your potential. We want you to learn more, be inspired to expand your horizons and discover exactly what you’re capable of.

SOUND LIKE YOU?

Apply now

A FIRM THAT IS AS UNIQUE AS YOU We do things differently. We’re not just a leader in Audit & Assurance, Tax, Financial Advisory, Private Advisory and Consulting – we have an approach that’s uniquely Grant Thornton. We care for our people, clients and communities and support them to thrive.

YOUR CAREER, YOUR WAY You’ve studied hard, and now you deserve the best start to your career. We understand that no two careers are the same, that’s why we’re committed to developing and supporting graduates like you who are looking to carve out a career that’s uniquely yours. The possibilities are endless – where you take your career and how fast you get there is up to you.

Grant Thornton Australia Limited is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. Please see www.grantthornton.com.au for further details. Liability limited by a scheme approved under Professional Standards Legislation.

grantthornton.com.au/ careers/studentopportunities/

PERSONAL DEVELOPMENT AND UPSKILLING boom is highly likely and the accounting profession is not

Communicating with Confidence Course

immune to this transformation. Both current accounting

Effective communication skills are essential in the

professionals, as well as those looking to get into the

workplace as you will be required to work with teams of

industry, need to take the time to invest in personal

people. Good communication is a two-way street that

development, like upskilling.

builds professional relationships between you and your

The COVID-19 situation has meant that a post-pandemic

team and will lead to high performance and boost Whilst we return to a post-pandemic workforce, the

workplace morale. It is good to start developing these

pandemic has permanently implemented technological

interpersonal skills during your time at university to

shifts that will become a priority for your personal

develop your confidence in the workplace.

development. We live in a competitive digital age where individuals and corporations need to possess a willingness

See this link to learn more about interpersonal skills.

to embrace changes in the way work is done. This new environment requires jobseekers to have both the technical skills and the ability to acquire new competencies in a short time.

Within the post-pandemic world, it is important to understand and gain the skills that will give you a competitive advantage.

Excel Essential Training Course

Brian Tracy - YouTube Channel

Excel has become a powerful accounting tool for accounting

Most of us have spent a lot of time watching YouTube

professionals in a digital working environment as financial

videos during lockdown! Why not be productive? There

reports and analysis of business figures can be done

are lots of channels dedicated to self-development and

remotely. Whether you are seeking a job in financial

improving professional and interpersonal skills. Brian

services, accounting or human resource planning, Excel is

Tracy, for one, can help start your personal

an indispensable skill to have. It is important to have strong

development journey as his videos cover a variety of

competencies in navigating this software to open doors to

topics such as working from home, public speaking and

promotions and leadership opportunities!

productivity. His teaching has been recognised in The Wall Street Journal, The New York Times, and more

See the link below to LinkedIn Learning to learn more about

widely known channels - check out some of his videos

the Excel Essential Training Course (Office 365).

next time you’re scrolling through YouTube!

Press this link to explore Brian Tracy's channel.

Accounting Student Association

PERSONAL DEVELOPMENT AND UPSKILLING Online Job Searches

General Job Search Websites

While lockdown restrictions persist, jobs continue to open

Websites such as Seek and Indeed are great for seeing

up for university students, granting you the opportunity to

job ads. However, it is recommended to also use

step into your desired career pathway and enter the

resources like GradAustralia, GradConnection,

professional world. The internet is an endless resource of

Glassdoor or Ethical Jobs to find graduate roles or

jobs and opportunities for you to take advantage of -

programs. LinkedIn’s job search engine and application

namely, online job searches are the key.

system are handy as applications can be quickly submitted with the ‘Apply Now’ button.

University Services CareerWise

Networking

An online portal with relevant, informative resources

Word of mouth is an overlooked but also valuable

available to help you in your job search. Get access to

method of job searching. With this method, try to

instant online resume reviews, career advice, job search

develop your network by going to professional

resources, workshops and many more career resources to

development and networking events in order to be able

help you in your career.

to get in touch with people who may be able to help you start your professional career.

CareerHub This is great for scouting out all levels of accounting and finance jobs and what they might require of you. You can also develop your professional network by attending the professional and networking events listed there.

Career Zone Career Zone is a great resource for job searching tips as well as employability tips in general. It also contains an integrated job search engine. Students who are not sure where to begin are recommended to look through the resources provided and to use them to their advantage in order to help them in the job-searching process.

Job Listings from Professional Bodies Job portals of accounting professional bodies, such as CPA Australia, CAANZ and ACCA, have highly relevant job listings. All that is required from you is to be a student affiliate.

Accounting Student Association

INTERVIEW WITH We had a riveting conversation with a representative of SW, Liam Matthews, to give

COVID-19 has impacted his profession.

Lia

some insight into himself, SW and how

Tell us about yourself. I graduated from Macquarie University with a Bachelor of Commerce, majoring in Accounting and Finance. I was lucky enough to secure a graduate position in my penultimate year of study in SW Australia’s Assurance and Advisory

tt h e w s

How has COVID-19 affected your work? Do you see it changing how you work in the future?

division. I have been employed at SW since April 2021 and

Starting my career during a global pandemic has been

have absolutely loved it.

quite daunting. My onboarding process was conducted completely online through rounds of virtual meetings.

What has really helped my transition into SW has been the

Having completed the last year and [a] half of my tertiary

firm culture. The firm culture is very welcoming, which is

education online, learning and working remotely has not

vital, especially when the onboarding process has been

affected my ability to learn and work significantly. Once

completely virtual. Despite lockdowns due to COVID-19,

lockdown restrictions eased, SW adopted a hybrid model

there are often virtual social events to allow everyone to

which enabled me to pick and choose when I would work

catch up and get to know each other. Outside of work, I

from home or work in the office.

enjoy hanging out with friends as well as watching or playing a wide range of sports whether it be rugby,

However, in terms of executing an audit, I would say that

basketball, soccer, or cricket.

COVID-19 has affected the way external audits have traditionally been performed. Due to [their] nature, [that

What do your roles and responsibilities entail? In a broad sense, my responsibility, as an external graduate, is to assist my audit team in conducting a well-delivered audit to a wide range of clients. In doing so, I develop my understanding of the auditing process and methodology, [as well as enhance my] overall accounting knowledge. Day to day, this could involve working through specified areas of

is], requiring significant client interaction, in a “COVIDless” world, much of my duties would [have been] performed at the client’s site rather than virtually. As such, COVID-19 has shifted external audit into a more virtual setting. Obviously, at times auditors will still be required to attend client sites but maybe not to the extent of pre-COVID-19. For this reason, I see many firms, including SW, permanently adopting this hybrid model of virtual/traditional work setting.

the audit file, researching, and understanding more about a client and the industry they are situated in, or conducting a stocktake at a client’s premise.

Accounting Student Association

What advice would you give to someone aiming for a position like yours in Audit?

What impact can someone have through working at SW?

Demonstrate your keenness to learn. As a graduate,

diverse team that are focused on helping you develop not

everything you do will be a chance to learn something new.

only your career but self-aspirations as well. At SW, the

From a new section in an audit file to understanding a

opportunities are limitless. By working with a large array

client, there is always a chance to develop and further your

of clients, you will be able to learn the in-and-outs of

understanding. Personally, I always kept a notebook with

different businesses’ operations, while at the same time

me and would continually take notes. That way, if I had

ensuring that the client is accurately reflecting their

forgotten something, I could always refer to it.

financial position. It is truly a rewarding experience.

Working at SW, you will get the opportunity to join a

INTRODUCTION TO SW Our firm’s purpose and network are unique. Building a career at SW will see you join a hardworking and friendly team that values creating opportunities for our people and our clients. Create your own individual story and become a part of ours. We understand that a holistic approach must be taken when considering the right workplace. This is why we offer a range of initiatives to help our people both personally and professionally.

Socials We know that starting a new job can often be overwhelming and feeling connected with your colleagues is extremely important. We provide an array of opportunities for our people to get together whether it be

Values We are a values-led firm with these values embedded into our everyday behaviour and language and our unique to our people. They also reflect the manner in which we interact with each other and clients.

through our sporting groups, social club, cultural celebrations or end of month get-togethers.

Learning & Development At SW, we are passionate about building the capabilities of our people and supporting their career growth. Our tailored learning framework, BOLD (Building Our Leadership and Development), clarifies the behaviour and capability expectations of our employees at every level. Our programs are purpose-built and tailored to our people, their profession and their personal interests.

Accounting Student Association

INTERVIEW WITH An interesting interview with another

RSM Australia and the impact of COVID-19.

Tell us about yourself.

tth

Ash, walks us through a day in the life at

Macquarie University alumni, Matthew

Ash

I studied Commerce with a major in Accounting at

How has COVID-19 affected your work and how do you envision the future?

Macquarie University and graduated at the end of

I was fortunate enough to start working just before COVID-19

2020. I began a full-time role with RSM Australia in their

really hit us here, and the response from RSM was very

Business Advisory division at the beginning of 2020 and

supportive and focused on ensuring everyone had whatever

completed my remaining subjects part-time while

support they needed. We began working from home full-time,

working. I began my Chartered Accountants graduate

but we were able to maintain contact with team members

diploma midway through 2021 with RSM supporting me

through daily catch-ups and check-ins with our buddies and

through these studies.

managers. I believe working from home will remain as

Explain your roles and responsibilities. Beginning as an undergraduate accountant, the work I completed was centred around business compliance, strategic outsourcing work, and individual tax returns. This includes preparing Business Activity Statements and assisting with other monthly and quarterly reporting, as well as bank reconciliations, payroll, and management account reporting. Progressing further as a graduate and beyond involves working on tax returns and preparing financial statements for individuals and groups, including companies and trusts.

standard practice, and there will be an even greater focus on employee engagement to ensure people are not isolated and that those relationships are maintained.

What impact can someone have by working at RSM? The impact you have becomes very clear once you begin direct contact with clients. You gain an understand of a client’s business and what they need as individuals, and you can see how your assistance allows them to avoid stress about accounting and tax issues that they face. I addition to this, you are able to add value to clients’ businesses by providing reporting and advice and helping them better understand their options and opportunities. Seeing businesses thrive with your assistance is very fulfilling.

What sets RSM's work culture apart? There is a significant focus on building and maintaining relationships with co-workers at RSM. The welcome you receive when starting out really sets you up well, as you feel that you can turn to anyone in your team for advice or just to chat. The buddy system gives you someone to lean on early on, and you can build friendships both within your team (which is part of the larger division) and with your fellow graduates and undergraduates. The new-starter cohorts have been the largest in the division’s history in the past couple of years. There is also a genuine desire to see employees succeed, with regular career progressions discussions, training, and learning opportunities, as well as study support in the form of study leave and financial assistance. Accounting Student Association

STAYING MOTIVATED With COVID-19, it may be harder than ever to stay motivated. We want to point you to some resources that might help.

Study Buddy Another way to achieve your study goals is by finding a study buddy to work with. Study buddies can do wonders for keeping you productive and accountable during those long library sessions where lectures seem endless. You can keep each other motivated to study and bounce ideas off each other.

Student Diaries Diaries are a great tool for driving motivation. Things as simple as creating a study routine can greatly improve your time management and help you visualise your goals.

Student diaries are provided at the university and are available during O-Week and Student Engagement. Each student is given a student diary that includes important dates for the academic year. This is a great tool for all students to use throughout their student life at Macquarie University and to keep themselves updated with what's happening around campus.

The student diary includes: Vouchers for around campus Important dates for breaks and exam periods Tips and tricks for your studies and wellbeing!

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MENTAL HEALTH Everyone feels anxious or down from time to time, but the pressures of being a university student can make it feel even worse. Your mental health plays a significant role in your overall academic performance, so it’s important to look after it. Finding the right study-life balance will help you better handle stress, stay motivated and ace your units! So take a deep breath in and relax, as this article will give you some tips on what you can do to take care of your mental health.

Healthy Lifestyle Habits Dr Michelle Robin, a holistic healer, once said that ‘health is a state of complete harmony of the body, mind and spirit’ where a healthy lifestyle not only changes your body, but also your mind, attitude and mood. As such it’s important to add good habits into your everyday life.

Eat Healthily We tend to seek unhealthy foods during periods of stress, but this leads to fatigue and can worsen our mood. Maintaining a well-balanced diet full of essential nutrients and staying hydrated, can help improve your mental

Stay Active People who exercise regularly have better mental health and emotional wellbeing. Participating in physical activity can not only boost your mood and improve your selfesteem but can also increase your concentration and alertness. Even if it’s going out for a 10-minute walk – getting yourself up and moving is the key. For those who prefer to stay indoors, there are a variety of free YouTube home workout tutorials available to do in the comfort of your own room. Get your family to join in as well or start a group zoom workout session with your friends as this will make it more enjoyable and feel less like a chore.

wellbeing as you will have fewer mood fluctuations, improved ability to concentrate and an overall happier perspective. Get into the habit of making your own food as this will help you keep track of what you are putting into your body. Consider a healthy meal plan with controlled portions of fresh produce (vegetables and fruits), whole grains, lean meats and low-fat. Take a step further and prep your food for the week. This way, you can have ready-made food and prioritise your time for your studies.

Positive Sleeping Habits We’ve all pulled an all-nighter before, especially during exam season. But sleep helps us recover and feel recharged. The lack of sleep links directly to poor workstudy performance and problems with mood such as irritability. It’s recommended to get at least 7 hours of sleep every day.

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MENTAL HEALTH Take up a Hobby

Staying Connected

When we spend time on activities we enjoy, it can enhance

Socialising is important for your mental health. Most of us

our mental health and wellbeing. Having hobbies help us

during these difficult times are in lockdown or social

develop passions and has proven to lower stress or the

distancing. But just because we’re physically distant from

likelihood to feel depressed. So, try picking up a new hobby

each other, doesn’t mean we can’t stay connected.

and develop your skills that will enhance your proficiency,

Regularly check up on your friends and family through

productivity and mood. Reading, gardening, cooking, writing

setting up a video chat on Facetime, Skype or Zoom.

and exercising are some to name a few. Engaging in creative

Remember you’re never alone. Headspace is an Australian

activities have also been shown to increase positive moods.

non-profit organisation for youth mental health. It’s a

So, channel your creative side and try learning how to play

great platform to access group chats, online communities

an instrument, sing, paint or draw.

and get 1 on 1 direct support with professionals. Macquarie University Student Wellbeing offers students with support and counselling. They can be contacted on (02) 9850 7497.

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Be mindful. Take a deep breath. Take a break.

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EVENTS Review

Here are some flagship events designed to give you what you need to grow and

ASA EVENTS REVIEW

make your way through university, and for your future career too.

Meet & Greet Charity Event Careers Fair Alumni Night

Meet and Greet Our biannual Meet and Greet provides members the chance to personally engage with the ASA Committee and gain a greater understanding of our goals and purpose. We also incorporated online break out rooms to provide members with the opportunity to actively engage with each other in a smaller group environment. It’s a great way to meet new people!

Q&A with Chartered Accountants

Game Nights

Australia and New Zealand

In 2021, ASA hopped onto the Among Us bandwagon…

Last year, we hosted an online ‘Introduction to Chartered Accountants - Q&A Informational Session’ with our sponsor Chartered Accountants Australia and New Zealand. We were honoured to have 2 special guests, Ellie Orme (CA ANZ Careers Engagement Senior Consultant) and Rakin Hasan (CA ANZ Speaker & Senior Analyst at Deloitte), provide invaluable insights into the CA Accreditation and a glimpse into the duties of a Chartered Accountant. University students from all years and business fields had the opportunity to interact with Ellie and Rakin to gain a deeper

Taking into account the stress of university life, the ASA committee recognises the importance of self-care. Understanding the lack of opportunities for members to engage with both our society, and each other due to the impact of COVID-19, ASA has encouraged student interactions through fortnightly interactions through simple online games. Whether students are working together or competing against each other, ASA is here to remind everyone to stop and take a breather. University life is also about the bonds you make along the way.

understanding of the Chartered Accountants Program and kick start their future in accounting.

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Charity Event

Interview Workshop with Grant

Here at ASA, we aim to not only provide for our

Thornton

members but help the greater community through routine charity events. During COVID-19, ASA hosted a One Foot Forward Charity event to encourage everyone to acknowledge and reflect on the importance of your own health during these times. We managed to walk a total of 712 km and raise $3,475 to support Black Dog Institute in their mental health advocacy. We are pleased to contribute towards a good cause, ultimately helping wherever possible, to make the world a better place.

We know what it’s like to be worried about an upcoming interview, from what to say and wear, to whether you have prepared enough. ASA recently collaborated with Grant Thornton to hold our second online networking event, conducting an ‘Interview Workshop’ with 50 participants.

During the event, representatives from Tax, Audit and People & Culture spoke about Grant Thornton, its culture, opportunities, and took the students through their graduate and intern application process. Students who were in different stages of the job-seeking process were able to grasp interview expectations from the perspectives of a recruiter or interviewer. During the event, we conducted a case study in breakout rooms to provide participants with first-hand experience of the assessment centre and the opportunity to receive personalised feedback on their performance

Launch Your Career with Ernst & Young ASA hosted a ‘Launch Your Career’ event in collaboration with Ernst & Young (EY). Students from all business backgrounds were exposed to industry trends and given advice on how to launch their careers with the help of EY’s student programs in the fields of Cyber Security, Tax, Audit & Assurance, Human Resources Management and more.

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ASA x Enactus Excel Workshop Event ASA holds regular skills workshops to support the University community’s technical learning. This time we collaborated with Enactus MQ, another university society, to bring you an Excel Workshop. With our special guest Nicky Bull, we were able to assist our members’ development of Excel skills. The online event successfully helped students from all different proficiencies gain more knowledge by exploring the full potential of Excel. We also explored various functions of Excel in the accounting industry to highlight the importance of Excel. And there’s so much more… Our Events team is always thinking up new, exciting ways for you and the team to get involved and grow. Get excited for what’s to come!

Careers Fair We know how hard it can be to get a foot in the door, but ASA’s Career Fair could make this much easier! We’re planning to give you direct access and communication with representatives of our sponsors, which includes top-tier firms like Grant Thornton, HLB Mann Judd, Nexia Australia and SW. This is a great opportunity to ask any questions you may have, and start to build a relationship with them.

Alumni Night We are keen to give all of you the chance to connect with our previous members that have completed their studies. Graduates are able to link back up with their friends in the society, while meeting new people. This also opens up lines of communication, to ask for advice from people who have been in your shoes and are now navigating the workforce.

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SNEAK PEEK

CAREERS GUIDE

GETTING ACCREDITED Here at ASA, we all know about the worries and

Additionally, public practice certificates are required by

struggles, as well as the excitement and anticipation,

law and are necessary to perform public accounting

that come with forging your career. Make sure to look

services, such as auditing and compliance, tax

out for our upcoming publication, the Careers Guide.

accounting and corporate advisory, in many firms

We’ll provide you with extremely valuable insight into

across Australia and New Zealand. If an accredited

the many dimensions of setting your career pathway.

accountant displays proof of their certificate, employers

We hope to equip you with all the tools necessary for

will have the impression that they will complete their

you to succeed, and avoid some of that unawareness

work to the highest standard.

and fear that could limit you.

Chartered Accountant (CA) This section is a sneak peek into the guide. We begin to answer one of the questions that often roam the minds of accountants. “How can I receive accounting accreditation and which qualification is right for me?”

The necessity of extra accreditation

What is the CA designation? Chartered Accountants are well-rounded business leaders who strive to make a difference. They are equipped with technical and soft skills, exceptional commercial acumen, professional scepticism, and critical thinking, as well as a passion for lifelong learning

Accounting accreditations are external recognitions

and keeping up to date with the changing nature of the

gained from working through a program’s core

business – all within an ethical framework. CAs are able

accounting subjects and electives required by

to identify and assess business challenges from

accrediting bodies. Upon completion, you can be

different angles, ask the right questions, identify,

recognised as a member of that accreditation firm, such

anticipate and resolve business challenges, make well-

as CA ANZ, CPA Australia, or ACCA, and be issued a

informed and strategic decisions, and adapt to the

certificate. This also opens opportunities for you to

changing work landscape.

climb the corporate ladder.

Accounting is one of the most popular majors taken by business students from Australian universities. Therefore, it is important to differentiate yourself from the rest of your cohort. External accreditation can provide graduates with lifelong knowledge and access to exclusive events and resources from that accreditation firm. Furthermore, it will enhance your reputation as a competent professional, which allows for greater career mobility.

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Why Chartered Accountants Australia and New Zealand? Gain the skills to make a difference to business,

That means your designation is not only recognised as

economics and societies

one of the most highly regarded professional accounting

By choosing the Chartered Accountants Program, you’re

qualifications in the world, it’s also your ticket to play in

partnering with one of the world’s leading higher

major capital markets overseas.

education providers in accounting.

The CA Program provides you with the freedom and

We are the only professional accounting body in

flexibility to work in exciting environments all over the

Australia registered as a higher education provider by

world - wherever you see yourself making a difference

the Australian government and regulated by the Tertiary Education Quality and Standards Agency (TEQSA).

Strength in numbers Chartered Accountants ANZ represents a network of

Once you complete the Program and become a CA, you’ll

more than 131,000 members who use their expertise to

also hold a Graduate Diploma of Chartered Accounting

make a difference to the businesses, organisations and

(GradDipCA): an AQF accredited postgraduate

the communities in which they live and work.

qualification and an internationally recognised designation.

Chartered Accountants Australia and New Zealand is committed to advancing the accounting profession

As a Chartered Accountant, you’ll be equipped to thrive

through upholding ethical standards, delivering world-

in a fast-changing world, with the unique perspective and

class member services, educating and advocating for the

skill set required to make a difference in the challenges

public good.

of our time.

We provide value to members at every stage of their

Global quality benchmark

careers by promoting, recognising and protecting their

As a member of the Global Accounting Alliance (GAA),

designations as well as keeping them connected with

we’re recognised among leading professional accounting bodies in the world.

other members and supporting the next generation of talent to enter the profession.

Requirements for CA

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Before your CA In the meantime, before you get your accreditation, you could become a Student Affiliate at Chartered Accountants ANZ. This enables you to form connections with employers and industry leaders at Chartered Accountants ANZ’s employment events, receive timely updates about programs and positions, and get valuable career tips and job advice.

For instance, Chartered Accountants ANZ’s Achiever Programme is open to penultimate and graduate students in the Student Affiliate community. Through this, you can apply for paid work experience with one of Chartered Accountants ANZ's partner employers and start to apply your academic knowledge. This year, applications are open for both winter and summer cohorts. Important dates: Summer 2022/23 Applications open 1 - 19 August.

Accounting Student Association

GETTING ACCREDITED Certified Practicing Accountant (CPA)

Why CPA?

What is CPA?

In addition to its international reputation and legacy,

A Certified Practicing Accountant (CPA) is a qualified financial, accounting, and/or business professional, and the CPA designation is universally recognised by employers and members as a symbol of having a

the CPA program equips members with the skills and confidence to approach accounting, finance, or business matters as well as develop important aspects of their careers such as leadership, strategy, and business.

comprehensive understanding of a wide range of accountancy knowledge.

CPA Program candidates have access to online learning platforms, supplementary materials, and even member

CPA Australia is one of the main professional accounting bodies with a global membership of more than 168,000 members (as of February 2021) working in more than 100 countries with the support of 19 offices around the world. In Australia alone, there are more than 25,000 members who hold senior leadership positions. The organisation aims to advance trusted and valued accounting and business professionals by providing education, training, technical support, and advocacy for its members.

groups on Facebook, LinkedIn, and Twitter. Upon completing the CPA Program, CPAs are provided with short courses and online learning as part of their Continuing Professional Development (CPD) requirements. CPAs also receive industry news through INTHEBLACK and the CPA Australia Podcast, exclusive special offers through the Member Benefits Program, an online career planning tool in My Career Navigator, and access to full-text journals, newspapers, ebooks, and other resources through the CPA Library.

While the CA Program may offer more opportunities for technical specialisation - such as in auditing or tax - the CPA Program is more suited to those who seek to develop a diverse accounting skillset. These broader skills, such as those relating to costing and planning, can lead to a wider range of opportunities, especially in business management and industry accounting. Ultimately, you should research roles and opportunities of interest to determine the most appropriate qualification to pursue.

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Requirements for CPA 1. The Eligibility Criteria:

4. Apply for full CPA status:

You are not required to hold a degree accredited by CPA

Once all requirements above have been met, you will be

Australia or even a relevant degree in a complementary

notified of your new status via email.

field (e.g., accounting) to commence the CPA Program. However, you may be required to complete one or more

5. Using the CPA designation:

Foundation exams prior to commencement.

You may use the CPA designation once you receive an email

Furthermore, you must hold a degree recognized by CPA

confirmation from CPA Australia about your CPA status.

Australia that is at least equivalent to an Australian

Continued use of the CPA designation requires completion

Bachelor’s degree to advance to CPA status. Search for

of annual CPD activities and compliance with a strict code

courses accredited by CPA Australia at this link.

of conduct set by CPA Australia.

2. Apply to be an Associate member:

CPAs wishing to offer public accounting services must also

The application process to be an Associate member of

complete CPA Australia’s Public Practice Program and hold

CPA Australia involves providing supporting

a Public Practice Certificate as per CPA Australia’s by-laws.

documentation including official academic transcripts, evidence of degree completion, and proof of your

Highly experienced CPAs with at least 15 years of work

identity. Applicants acting as a principal in public practice

experience in accounting, finance, or business, including

or undertaking any accounting services will also need to

five years either in an executive position or providing full-

provide information about their position, services

time public accounting services, may apply to become a

offered, and public practice qualifications. Members of an

Fellow of CPA Australia (FCPA).

accounting or finance professional body will also be required to provide a letter of good standing.

CPA Australia has several Mutual Recognition Agreements (MRAs) with other international accounting bodies; these

3. Enroll in CPA Program subjects and complete 36 months

MRAs enable CPAs to gain membership in other bodies and

of relevant experience

members of other bodies to gain CPA membership. These

Once your application to be an Associate member has

international accounting bodies include Chartered

been approved, you may then enroll in CPA Program

Accountants Australia & New Zealand (CAANZ), the

subjects. Completion of all four compulsory subjects –

Association of Chartered Certified Accountants (ACCA), and

Ethics and Governance, Financial Reporting, Strategic

the American Institute of Certified Public Accountants

Management Accounting, and Global Strategy and

(AICPA).

Leadership – and two electives is required to satisfy the Program requirements. Associate members must also

For the most complete and up-to-date information, please

complete 36 months of relevant experience before,

visit cpaaustralia.com.au and/or contact your nearest CPA

during, or after studying the CPA Program subjects. The

Australia office.

subjects and experience requirements must be fulfilled within six years of becoming an Associate member; however, you can apply for an extension, although one is not guaranteed.

Accounting Student Association

GETTING ACCREDITED Association of Chartered Certificate

Why ACCA?

Accountants

The ACCA Qualification is a very cost and time effective

What is ACCA? The Association of Chartered Certified Accountants (ACCA) is a global professional accounting body. Their accreditations are recognised in 170 countries worldwide and have offices in 52 of them. Across 181 nations, they have 900,000 total members and 480,000 of them are students.

The ACCA offers the world-leading Chartered Certified Accountant Qualification which is highly valued by employers. It provides students with the skills, knowledge and values to have successful and fruitful careers, while opening up many future leadership opportunities.

ACCA differs from other accreditations like CPA and CA ANZ as a university degree is not required to undertake the program - the only academic requirement is finishing secondary education. Upon successful completion of the program, ACCA will award you with a professional accounting qualification which is not recognised as a degree. ACCA is also known to be more challenging than an undergraduate accounting degree, as it combines subjects taught in both the Bachelor’s and Master’s Degree

Accounting Student Association

method to gain accreditation, accounting knowledge and professionalism. Upon successful completion, members gain technical knowledge in finance and accounting and even skills in organisational and strategic management. This means you won’t have to bear the financial costs of university degrees and further studies to get future accreditation. Additionally, you won’t have to spend at least three years in university.

Studying to obtain the ACCA Qualification is also extremely flexible. The ACCA gives you 10 years to complete your qualification from the date of registration. Additionally, the program allows you to take examinations at your own discretion. Examination periods are held twice a year in June and December and there is no minimum requirement for examinations that have to be attempted. However, there is a maximum of four. Participants can self-study anytime, although it is highly recommended to take classes.

Finally, it has strong recognition and a worldwide reputation with multiple accounting bodies, organisations and governments. It is also based on international accounting and auditing standards which are accepted in a large number of countries. The opportunities for anyone with this accreditation are endless.

Requirements for ACCA To be eligible for the Chartered Certified Accountant

The second level is called ‘Applied Skills’ and consists of 6

Qualification, you are required to complete three GCSEs

examinations

and two A-Levels in five separate subjects, including

Corporate and Business Law (LW)

Maths or English during your secondary education.

Performance Management (PM)

ACCA originated in the UK and the grades are the same

Taxation (TX)

for equivalent subjects in Australia and other countries.

Financial Reporting (FR) Audit and Assurance (AA)

The Chartered Certified Accountant Qualification can be

Financial Management (FM).

completed within a minimum of three years. To achieve the qualification, students must:

The third level is called the ‘Strategic Professional’ Level and

Complete a maximum of 13 exams

involves completing 2 essential and any 2 from the optional

Finish an ethics and professional skills module

section.

Display evidence of three years of practical work

Essential

experience in a relevant accounting role

Strategic Business Leader (SBL) Strategic Business Reporting (SBR)

Exams Structure

Optional

The first level is called ‘Applied Knowledge’ and consists

Advanced Financial Management (AFM)

of three examinations

Advanced Performance Management (APM)

Accounting in Business (AB)

Advanced Taxation (ATX)

Management Accounting (MA)

Advanced Audit and Assurance (AAA)

Financial Accounting (FA) These exams are offered worldwide in March, June, September and December and can be paper or computerbased. The passing mark for all exams is 50%

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