When “accounting” is discussed, it is usually thought of as numbers, calculations and boring spreadsheets. I was not any different either. But now, as an accounting student, having amassed a lot of knowledge, I have realized that it is much more than that. It is more about understanding how money works, how businesses survive and grow and how important it is to keep things fair and honest. Accounting is just that.

Why I Chose Accounting?  

I chose accounting because I wanted to do something practical and useful. Every business need someone to manage its money properly. That means no matter where I work big company or small shop, accounting will always be important. 

Also, I enjoy organizing things and solving problems, and accounting gives me that chance. There is a certain satisfaction when your numbers match, or when you figure out where something went wrong and fix it. 

What I’ve Learned So Far?  

My academic experience has enabled me with the ability to prepare and interpret key financial documents such as balance sheets, income statements and cash flow statements. I have developed and improved technical ability in recording transactions, analysing financial health and finding risk.

On an equally important note, I have also adapted essential soft skills like time management, team collaboration and the ability to communicate complex financial concepts in accessible terms. Accounting has taught me that trust and ethical responsibility are foundational. A minor miscalculation or lapse in integrity can compromise not just financial statements but entire organisations.

The Struggles Are Real  

Studying accounting has its challenges. Mastering complex standards, reconciling financial differences and meeting academic deadlines can be overwhelming. There are times when the pressure to support accuracy and consistency feels relentless. However, every challenge has reinforced my analytical mindset, attention to detail and persistence traits which are essential for both professional success and personal growth.

My Hopes for the Future  

In the future, I want to become a professional accountant, even get my CPA or CA license. I want to help businesses make smart decisions and stay financially healthy. Most of all, I want to do a job that makes a difference. 

Final Thoughts  

If you are thinking about studying accounting, just know this it is not easy, but it is worth it. It teaches you responsibility, patience, and problem-solving. And once you get into it, you will see that it is actually interesting. 

Being an accounting student has helped me grow not just academically, but as a person. I am proud to be on this journey, even on the days when the calculator and I do not get along! 

As Australia faces growing challenges in mental health, aged care, family services, and community wellbeing, social work is emerging as a vital profession for the country’s future. The Bachelor of Social Work is more than a degree—it’s a pathway to a meaningful, stable, and in-demand career. 

National Trend: A Growing Need for Social Workers 

The Australian Government’s Labour Market Insights report highlights that the demand for qualified social workers is expected to grow strongly in the coming years. Between 2023 and 2028, social work jobs are projected to grow by over 23 percent. 

This increase is driven by: 

• Greater focus on mental health services 

• Expanding aged care and disability support 

• Government investment in child protection and family services 

• The need for culturally competent professionals in ever increasing multi-cultural communities 

Why International Students Should Consider Social Work 

Social work is recognised as a skill shortage area in several Australian states, which opens doors to potential migration opportunities through state nomination and skilled visa programs. 

Other benefits include: 

• Qualifications that are nationally accredited and recognised (often through AASW – Australian Association of Social Workers) 

• Diverse employment opportunities in government agencies, non-profits, healthcare, education, community organisations and pathways for research careers 

• Opportunities to build strong professional skills in communication, cultural sensitivity, and case management 

• A career that provides emotional rewards alongside professional growth 

Career Opportunities After Graduation 

Graduates with a Bachelor of Social Work may pursue roles such as: 

• Mental health social worker 

• Child and family support officer 

• Community development worker 

• Hospital or school social worker 

• Aged care or disability services coordinator 

• Crisis intervention or domestic violence case manager 

Many of these roles appear on Australia’s skilled occupation lists, offering a clear path for international graduates who wish to stay and work in the country. 

Why Social Work Matters 

Social work  combines professional knowledge with a deep sense of empathy and service. It is a career for those who want to make a lasting impact—whether by supporting individuals through hardship, strengthening families, or advocating for vulnerable communities. 

If compassion is in your DNA, the world needs you now more than ever. 

The challenges around us are many — injustice, inequality, suffering — but what we need are people bold enough to face them head-on. People with heart. People with courage. 

At NAPS, we don’t just train social workers — we shape change-makers. 
We’ll equip you with the skills to think critically, act creatively, and respond with innovation in the face of real-world problems. 

‘Let's get this right, when compassion meets action, everything changes' 

24/04/2025 Professor Venkat Pulla 

Choosing to study a Bachelor of Social Work is both a smart and compassionate decision. It leads to a career with strong job prospects, personal fulfilment, and the potential to contribute meaningfully to Australian society. For international students, it also offers long-term opportunities and a chance to be part of a profession that changes lives. 

International Financial Reporting Standards (IFRS) form the backbone of financial reporting in Australia. Since their adoption in 2005, IFRS has shaped how businesses communicate financial information, ensuring consistency and transparency. But what does this mean in practical terms for businesses, investors, and the broader economy? 

The Role of IFRS in Financial Reporting 

IFRS is a set of internationally accepted accounting standards issued by the International Accounting Standards Board (IASB). Its primary goal is to create a common financial language that facilitates comparability and reliability across global markets. Over 140 countries, including Australia, have adopted IFRS, making it a fundamental element of financial regulation and reporting. 

In Australia, the Australian Accounting Standards Board (AASB) is responsible for implementing IFRS while considering local economic and regulatory factors. This ensures that financial statements meet global expectations while addressing specific national requirements. 

Why IFRS Matters to Australian Businesses 

For companies operating in Australia, IFRS compliance is not just a regulatory obligation but a strategic advantage. Standardised financial statements help investors, creditors, and stakeholders make informed decisions, reducing uncertainty and enhancing market confidence. 

Before IFRS, different national accounting standards created inconsistencies that made financial comparisons difficult. Now, whether an investor is assessing an Australian firm or a European counterpart, IFRS ensures that financial data is presented in a uniform and understandable manner. 

Key IFRS Standards Impacting Australian Businesses 

Several IFRS standards significantly impact how companies report financial information in Australia: 

• Revenue Recognition (AASB 15/IFRS 15): Establishes clear guidelines on when and how businesses recognise revenue, reducing discrepancies and enhancing consistency. 

• Lease Accounting (AASB 16/IFRS 16): Requires companies to record most lease obligations on their balance sheets, offering a more accurate picture of liabilities. 

• Financial Instruments (AASB 9/IFRS 9): Regulates how businesses classify and measure financial assets and liabilities, improving transparency in risk assessment. 

How IFRS Affects Investors and Everyday Australians 

IFRS extends beyond businesses and accountants—it influences anyone with an interest in financial markets. Investors, for instance, rely on IFRS-based reports to assess company performance and make informed decisions. Superannuation funds, which manage retirement savings for millions of Australians, also depend on IFRS-compliant financial statements to evaluate asset performance and risk exposure. 

Moreover, IFRS supports economic stability by promoting confidence in financial reporting. When businesses adhere to a globally recognised standard, stakeholders can trust the accuracy of financial information, reducing the likelihood of financial misstatements and corporate scandals. 

The Future of IFRS in Australia 

Financial reporting standards continue to evolve, reflecting changes in business models, digital transformation, and sustainability concerns. The AASB actively monitors and updates IFRS standards to ensure they remain relevant to Australian businesses and investors. 

One emerging area of interest is sustainability accounting, which integrates environmental, social, and governance (ESG) factors into financial reporting. As global markets place greater emphasis on sustainability, new IFRS standards are being developed to provide consistent reporting frameworks for ESG disclosures. 

Final Thoughts 

IFRS plays an essential role in maintaining transparency, accountability, and trust in Australia’s financial system. Whether you are a business owner, investor, or finance professional, understanding IFRS helps you navigate financial statements with greater confidence. 

At NAPS, we are committed to equipping future professionals with the knowledge to interpret and apply IFRS effectively. Stay tuned for our next blog, where we will explore Sustainability Accounting—a growing field that integrates environmental and social considerations into financial reporting. 

Aflah Tasnim