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Concepts for Accounting Principles and Skill Shortages

Question:

Discuss about the Concepts for Accounting Principles and Skill Shortages.

Answer:

Introduction

In this literature review, it has been tried to identify whether in Australia, the international students prefer to study accounting for getting the scope of permanent residence or to achieve the international degree in accounting. At the same time, the literature review has also identified the gap between the existing literature and the current study.

Identifying whether the international students prefer to study accounting in Australia for permanent residence

In Australia, the employment scope for accounting students is increasing day-by-day. The government of the country has taken several initiatives to grow the higher education sector and accounting disciplines (Weller 2015). As per the current data, since 2001, the percentage declined in the number of domestic students studying accounting is 20%, however, the total number of accounting students is increasing. This indicates that the number of international students is growing in the accounting sector in Australia and in most of the cases, it has been identified that the international students prefer to study accounting in Australia in order to get a permanent residence in the country (Baas 2016). The main reasons for which the international students want to get a permanent residence in Australia are – international job opportunity, career growth and higher income.

In Australia, the job opportunity of the accounting students is increasing and this opportunity is high for the students, who are resident of the country. As the number of international students is more in accounting sector, the government of the country is providing scope to the international accounting students to get a permanent residence in Australia (Bhattacharyya 2016). This clearly denotes that if the international students want to get a permanent residence easily in Australia, then the subject of accounting is the best option. At the same time, if the students get a permanent residence, then chances for getting better job is more (Weller 2015).

On the other side, as the Universities in Australia includes the international accounting rules into their syllabus, the scope of career growth are high. This is because international companies prefer to recruit the accountants from the Australian Universities. Therefore, if the international students study accounting in Australia, they get the permanent residence easily and if they get the permanent residence, then the opportunity of getting good job is more (Birrell and Healy 2016). This indicates that the international students in Australia prefer to study accounting, so that they get the permanent residence in the country and can enjoy career growth and higher income.

Conclusion

The existing literature has emphasized on the Australian Migration Program and the policies taken by the government for the migration process. However, this study has focused on the reasons for which the international students study accounting in Australia and look for permanent residence. Therefore, the main gap between the previous studies and the existing study is that the previous studies identified the process and benefits that the international students can achieve if they get permanent residence in Australia; whereas the current study has tried to identify the link between the study of accounting and getting permanent residence in Australia.

Reference list:

Baas, M., 2016. Becoming Trans/Nationally Mobile: The Conflation of Internal and International Migration in the Trajectories of Indian Student-Migrants in Australia and Beyond. South Asia: Journal of South Asian Studies, 39(1), pp.14-28.

Bhattacharyya, A., 2016. Learning accounting in globalised Australian Universities: Challenges and way out. The International Journal of Learning.

Birrell, B. and Healy, E., 2016. Globalization, Immigration Policy, and Youth Employment in Australia. In Creating Social Cohesion in an Interdependent World (pp. 263-280). Palgrave Macmillan US.

Weller, S.A., 2015. Accounting for Skill Shortages? Migration and the Australian Labour Market. Population, Space and Place.

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