Undergraduate information
Accounting Financial accounting Management accounting Auditing and assurance services
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Commerce major in Accounting
Accounting is described as the language of business. It provides business intelligence that communicates how organisations work and how they are performing. Is the accounting major for me? Do you want to understand how organisations work? Are you interested in assessing business performance and improving resource allocation? Do you want to be flexible as to the nature of the organisation, industry and country that you work in? Then the accounting major is for you.
Why choose Melbourne? Ranked 8th in the world for Accounting1
Ranked 10th in the world for graduate employability3
Study at Australia’s best university.2 Learn from internationally renowned academics, with some of the world’s brightest students.
Our graduates are known for their perceptive understanding of business issues, skilful communication and strong leadership.
Exciting student experience opportunities
Over $2M in exclusive Commerce scholarships
As part of your degree, you can join a student club, volunteer in communities, travel overseas, and build your professional skills.
Be rewarded for your hard work in high school and at uni, through one of Australia’s most generous scholarship programs.
What will I learn? Accounting studies will equip you with the skills to produce and interpret financial information that reflects how organisations operate and perform. You will learn how to produce this information for a wide range of users, including external parties like shareholders and also for managers within an organisation.
Take your degree overseas Travel to Europe or the US with the International Accounting Study Program, a third-year Commerce elective. The program showcases how firms in different countries use accounting in their day-to-day operations, and features company presentations delivered by industry leaders. Host organisations include Walt Disney, CBS TV, PricewaterhouseCoopers, GE Corporate, IBM, MasterCard Global, PepsiCo, the Securities and Exchange Commission, Volkswagen, BMW, Deloitte, Nestlé, Tesco, ASOS, and the International Accounting Standards Board.
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1 QS World University Rankings by Subject 2014 Times Higher Education World University Rankings 2013-14 3 QS World University Rankings 2013
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Where could the accounting major take you?
Hannah Wu Accountant, Hong Kong
Elisa Xu Recruiter, Singapore
Vin Li Yap Investment banker, Malaysia
Madhur Jain Entrepreneur, India
Yanuar Kurniawan Management consultant, Indonesia
Patrick Kelly Accountant, Australia
Alexandra Taylor Financial analyst, Australia
Adam Fedai Management consultant, Australia
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Accounting careers
Our graduates receive high-level conceptual and technical education, combined with exposure to complementary disciplines and opportunities for development outside the classroom. They enjoy excellent career outcomes including high starting salaries, outstanding job satisfaction and exceptional employment rates. Where do accounting graduates work? Some of our most recent graduates are now working at: Allied Lending ANZ Arrow Wealth Management Australian Taxation Office Bank Negara Malaysia Brown Hamilton Partners BDO Australia Commonwealth Bank DBS Bank Deloitte Ernst & Young Flagstaff Partners Fordham Business Advisors General Electric Grant Thornton Australia HSBC Jardine Matheson Holdings KPMG KordaMentha Lazard L.E.K. Consulting Lion National Australia Bank Moore Stephens Norfolk Trading Nova Accounting Partners OCBC Bank PricewaterhouseCoopers Pitcher Partners Reserve Bank of Australia RSM Bird Cameron Telstra Sothertons Chartered Accountants Treasury Wine Estates Vail Host Stockbrokers Wesfarmers Westpac
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Career progression in accounting Sample job titles Your first job Business Analyst
Financial Accountant
Financial Analyst
Company Auditor
Forensic Accountant
Management Consultant
Fund Manager
Government Auditor
Market Analyst
Director
Senior Accountant
Senior Auditor
Manager
Senior Analyst
Specialist
Chief Financial Officer
Partner
In 5-10 years
In 15-20 years Chief Executive Officer
Professional accreditation Melbourne Commerce graduates who complete the accounting major are eligible to apply for associate membership of the three professional accounting bodies: •
CPA Australia
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Chartered Accountants Australia and New Zealand
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Institute of Public Accountants
To practice as a professional accountant in Australia, graduates must first become a member of one of these accounting industry bodies. Each body has individual requirements that must be met to obtain full membership, including further study and practical experience. These requirements, fulfilled after graduation from the Commerce degree, normally take around two or three years to complete. We do not recommend one professional body over another. You are encouraged to research prospective employers and compare their preferences with the stated aims of the professional accounting bodies. You are also advised to check accreditation requirements of the specific body you are interested in, as these may change from year to year.
Studying the accounting major
The major in accounting is one of the most popular in the Bachelor of Commerce. It is ideal preparation for work as a professional accountant, and a great complement to other Commerce disciplines. The Bachelor of Commerce consists of 24 subjects, usually taken over three years of full-time study. The Commerce degree is very flexible and allows you to choose subjects across a range of disciplines. As part of the BCom, you must complete at least one major. The Bachelor of Commerce major in accounting is the shortest pathway to becoming a qualified accountant. To meet Commerce course requirements as well as accreditation requirements for the accounting profession, you must complete a specified sequence of subjects.
Bachelor of Commerce 24 subjects (usually 8 per year)
Compulsory subjects 5 subjects to cover Commerce fundamentals
Major and elective subjects 11-15 subjects to deepen your Commerce knowledge
* Students pursuing the accounting major must complete three specified breadth subjects in law to fulfill professional accreditation requirements.
Sample course plan – Bachelor of Commerce1 Major in Accounting Semester 1
Introductory Microeconomics
Quantitative Methods 1
Accounting Reports and Analysis
Semester 2
Introductory Macroeconomics
Introductory Financial Accounting
Accounting Processes and Analysis
Semester 1
Quantitative Methods 22
Cost Management
Corporate Law
Semester 2
Organisational Behaviour
Intermediate Financial Accounting
Business Finance
Semester 1
Enterprise Performance Management
Financial Accounting Theory
Semester 2
Auditing and Assurance Services
Taxation Law 1
Year 1
Year 2
Year 3
Compulsory subjects Specified breadth subjects
Breadth subjects 4-8 subjects from other disciplines*
Accounting subjects Free elective subjects3
Principles of Business Law
Specified Commerce electives
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This is a sample course plan only. Subjects offered may change from year to year. You will be advised of current subject offerings prior to subject selection and enrolment.
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There is a choice of Level-2 subjects available to fulfil the quantitative requirement for BCom. Consult with a course adviser to find out which one suits you best.
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You must complete a specified amount of Commerce and breadth subjects at particular levels to meet BCom course requirements. A course adviser can help you select subjects to ensure that you don’t neglect these requirements.
This sample course plan names compulsory subjects in the BCom and all subjects required for accounting accreditation. In total, these comprise 17 of 24 subjects in the degree. If you intend to pursue Honours in Accounting, you will also need to do either Basic Econometrics or Econometrics in your final year.
Honours in Accounting If you intend to work in an industry that values the ability to synthesise diverse information – like auditing or corporate advisory – you should consider an honours year. Honours in Accounting is an extra year of study, usually taken immediately after the Commerce degree. It is designed to equip you with frameworks for systematic enquiry, and to develop your technical, research, communication and presentation skills. Our honours graduates are extremely sought-after, and most are employed before they complete the degree.
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Study options for accounting majors
The Commerce degree is extremely flexible and is designed to help you explore your interests. Choosing the accounting major still keeps you open to other possibilities – what subjects you choose is up to you. Electives are available across the range of Commerce disciplines. With careful planning, you could complete a second major.
What can I combine with the accounting major? Second major options: Economics, Finance, Management, Marketing We do not recommend any particular Commerce major combinations – the choice depends on your interests and career goals. You can wait until second year to confirm your major, so you can take a little time to decide what you want to do.
What breadth subjects can I do? There is a wealth of study options available at the University. You can take all your breadth subjects in one discipline, or break them up to explore different interests. Note that some subject areas have study prerequisites, which you can discuss with a course adviser. Keep in mind that completing particular breadth subjects can lead to graduate study – that’s another option for you to consider. Breadth subjects are available in these study areas: • Agriculture, animal studies, food science and veterinary science
• Language, literature and cultural studies
• Architecture, building and planning
• Law, legal studies and criminology
• Education, teaching and training
• Medicine, dentistry, health and welfare
• Engineering and geomatics • Environment and natural resources • Historical, philosophical, political and social studies • Information technology and systems
I enjoy the diversity of my majors. I think they complement each other nicely – an accountant and an economist would respond to problems differently. Combining majors has broadened my problem solving abilities, which helps with uni assessments as well as daily life. Lisa McComb, majors in Accounting and Economics
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• Music • Performing and visual arts, theatre, film and television • Sciences and mathematics
Studying accounting as breadth
Can I do accounting subjects even if I’m not a Commerce student? One of the cornerstones of Melbourne degrees is breadth studies – the opportunity for all students to take subjects from outside their major area of study.
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Breadth studies in accounting are available to students in the Bachelor of Arts, Biomedicine, Environments, Music or Science.
If you would like to take accounting subjects as breadth, check the structure of your degree and prerequisites for the subjects you are interested in.
Studying accounting as breadth will equip you to understand
If you want to complete a sequence of subjects so that you can progressively build your accounting knowledge, we recommend the Forensic Accounting breadth track.
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different types of business structures,
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key financial concepts used in reporting and business analysis,
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how transactions are recorded to ensure accounts are complete and accurate, and how to assess a company’s financial performance and risk profile.
Forensic Accounting breadth track Understand the business environment and business fraud processes in Australia and internationally, the motivators for committing fraud, fraud prevention, types of fraud and fraud detection. • Accounting Reports and Analysis • Introductory Financial Accounting • Business Forensics and Fraud
Graduate study for non-accounting majors The Master of Management (Accounting), offered through Melbourne Business School, is ideal for non-Commerce graduates looking to qualify as accountants. It is also a great option for Commerce students who wish to add accounting training to their portfolio. The degree develops knowledge and skills in financial accounting, management accounting, auditing, taxation, corporate finance and accounting information systems. It is recognised by CPA Australia and the Institute of Chartered Accountants in Australia. The Master of Management (Accounting and Finance) program is another option, and is designed for students who would like to combine studies in these two disciplines. www.mbs.unimelb.edu.au
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www.bcom.unimelb.edu.au
University Information Course Search web site: http://coursesearch.unimelb.edu.au Call the University Information Centre: 1800 801 662 13MELB@unimelb.edu.au www.bcom.unimelb.edu.au
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Accounting Undergraduate Information brochure Authorised by: Provost Published by: The Faculty of Business and Economics Photography: Joe Vittorio CRICOS Provider code: 00116K Intellectual Property: For further information refer to www.unimelb.edu.au/Statutes Copyright: Copyright University of Melbourne 2014. Copyright in this publication is owned by the University and no part of it may be reproduced without the permission of the University.
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