Approximately 40% of accounting graduate recruitment in Australia is by small and medium accounting (SMA) firms, firms which can face different constraints compared to their larger counterparts. Given the characteristics of SMA firms it is important to appreciate what they consider makes a work ready graduate. This article reports the findings of a study that explores what makes a graduate work ready when commencing employment within an Australian SMA firm. The findings suggest that a work ready graduate for an SMA firm has a working knowledge and understanding of business accounting software programs, taxation and tax software. Additionally, there is a high emphasis on communication and interpersonal skills. This raises the question as to what extent should current university degrees provide adequate technical knowledge and generic skill development for those graduates seeking employment with SMA firms, and who should be responsible for it?