Relevant training and further education in finance: accounting, controlling and tax consulting

Why is further training in finance so important?

Changes in the job profile

The financial sector is evolving rapidly. Automation is increasingly taking over routine tasks, making analytical skills and strategic thinking more important than ever. New reporting obligations, particularly in the area of ESG reporting, require specialised knowledge. Controlling standards and tax law are also changing regularly, which makes continuous training essential.

Shortage of skilled labour vs. increasing qualification requirements

While companies are desperately looking for qualified financial experts, expectations of applicants are rising at the same time. Those who regularly undergo further training can set themselves apart from the competition and have a better chance of finding attractive positions in the financial sector. For example, further trainings in accounting or a controller certification is a great way to increase your own market value.

Further training as a competitive advantage

Many companies specifically focus on well-trained specialists. Relevant further training in finance can not only improve your chances of finding a new position, but also strengthen your basis for negotiation in salary and career discussions.

Relevant training and further education for accountants

Accountants are the backbone of a company's financial system. They ensure that all business transactions are recorded and processed correctly. Depending on the career level, there are different further training programmes in accounting:

Beginner level:

• Basic commercial training: Ideally, you should start your career in accounting with a solid commercial education, for example at a commercial high school (HAK) or other high schools with a commercial focus or through a commercial apprenticeship. This forms the basis for all further qualifications.
• Basic accounting courses: Educational institutions such as the Wirtschaftsförderungsinstitut (WIFI) or the Berufsförderungsinstitut (BFI) offer basic accounting courses. These provide essential knowledge in financial accounting and prepare students for more advanced tasks.​

Mid- & senior level:

• Accountant exam: After gaining your first few years of professional experience, taking the accountant exam is an important step. This can be taken at Akademie der Steuerberater:innen und Wirtschaftsprüfer:innen  or at WIFI, for example, and certifies sound specialist knowledge.
• Accountant training programme: The accountant training programme is the next logical career step for accountants who would like to focus more intensively on the preparation of annual financial statements and tax queries.
• IFRS training: Knowledge of the International Financial Reporting Standards (IFRS) is essential, especially for internationally active companies. The ARS Academy, for example, offers various IFRS courses.

In our job glossary you can find more information about the job description of an accountant.

Relevant training and further education for controllers

Controllers support companies in making business decisions based on sound analyses. Of course, there are also numerous further training programmes in this area, depending on the career level:

Beginner level:

• Basic courses in controlling: Beginners can acquire basic knowledge in cost accounting, budgeting and financial analysis through specific courses, for example at the WIFI, BFI or various university courses. The Controller Institute also offers interesting courses at beginner level and is an important point of contact when it comes to training and further education for controllers.
• Excel and BI tools training: The confident use of Excel and business intelligence tools (e.g. Power BI) is a core requirement for controllers today. In particular, companies are increasingly demanding knowledge of Power BI. Modern controlling software requires in-depth knowledge in these areas. The Contoller Institute or the Wifi, for example, further training in this area.

Mid level:

• Certified Controller (CCA): For professionals with initial experience in controlling, certification programmes such as those of the Controller Institute offer in-depth training in areas such as financial planning, capital budgeting and risk management.

Senior level:

• Specialisation in digital controlling and ESG reporting: Digitalisation and sustainability are key topics in controlling. Since the introduction of the EU Taxonomy Regulation, experts in ESG & sustainability reporting have been in high demand - specialised training in these areas can bring decisive advantages.
• Strategic financial planning: For experienced controllers who want to advance to leadership positions and further up the management ladder, specialised management courses offer valuable insights into strategic financial decisions.

Here you will find a detailed overview of the job description of a controller.

 

Relevant training and further education for tax consultants and advisors

Tax consultants and auditors require comprehensive specialist knowledge that needs to be continuously updated. Here are the most important training and further education opportunities:

Beginner level:

• Relevant Bachelor's degree programme: The first step is to complete a relevant university or university of applied sciences degree programme. An example of this is the Bachelor's degree programme in Economics and Social Sciences at the Vienna University of Economics and Business Administration or the Finance, Accounting and Taxation degree programme at the FH Wien der WKW.

Mid- & senior level:

• Further training seminars on current legislative changes: Tax law, accounting regulations and business management conditions are constantly changing and evolving. Continuous further training is therefore essential in this sector in order to keep up to date with the latest legislation and practice. Specialist seminars, specialised courses and certified further training help to expand your own expertise and always offer your clients competent advice at the highest level.

In this article you will find more information about the job description of a tax consultant and auditor.

Conclusion: The right further training as a career booster

Further training is an investment in your own career. Whether in accounting, controlling or tax consultancy, continuous training ensures better job prospects, higher salaries and long-term career prospects.