Undergraduate information
Accounting
Financial accounting Management accounting Auditing and assurance services
Contents Major in accounting
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Accounting careers
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Studying the accounting major 5 Study options for accounting majors
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Studying accounting as breadth 7 Contact us
Major in Accounting
Back cover
#1
in Australia
#33
in the world Times Higher Education World University Rankings 2014–2015
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?
Exciting student experience opportunities
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?
As part of your degree you can join a student club, volunteer in communities, travel overseas, and build your professional skills.
Then the accounting major is for you.
Our graduates are known for their perceptive understanding of business issues, skilful communication and strong leadership.
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.
WHY CHOOSE MELBOURNE? Ranked 14th in the world and 3rd in the Asian-Pacific region for Accounting.Q Study at Australia’s best university.W Learn from internationally renowned academics, with some of the world’s brightest students.
Ranked 13th in the world for graduate employabilityE
Generous scholarship opportunities The Faculty of Business and Economics offers a number of scholarships to domestic and international students commencing the Bachelor of Commerce. Additional scholarships and subject prizes are available to current students, so you have the opportunity to be rewarded for your hard work throughout your degree by one of Australia’s most generous scholarship programs. Q QS World University Rankings by Subject 2015 W Times Higher Education World University Rankings 2015 E QS World University Rankings 2015
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Elisa Xu Recruiter, Singapore
Michael Fernandopulle Senior Associate, U.K
Vanessa Sunggono Assurance Associate, Indonesia
Mio Matsuda Graduate Accountant, Australia
Yanuar Kurniawan Management Consultant, Indonesia
Lucy Susilo Product Sales Lead, Singapore
Patrick Kelly Accountant, Australia
Alexandra Taylor Financial Analyst, Australia
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WHERE COULD THE ACCOUNTING MAJOR TAKE YOU?
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 Bank
Taxation Office
Negara Malaysia
Brown BDO
Hamilton Partners
Australia
Commonwealth DBS
Bank
Bank
Deloitte Ernst
& Young
Flagstaff
Partners
Fordham
Business Advisors
General Grant
Electric
Thornton Australia
HSBC Jardine
Matheson Holdings
KPMG Lazard
Consulting
Lion National Moore
Australia Bank
Stephens
Norfolk Nova
Trading
Accounting Partners
OCBC
Bank
PricewaterhouseCoopers Pitcher
Partners
Reserve RSM
PROFESSIONAL ACCREDITATION
Sample job titles
Bachelor of Commerce graduates who complete the accounting major are eligible to apply for associate membership of the three professional accounting bodies:
Your first job
KordaMentha L.E.K.
CAREER PROGRESSION IN ACCOUNTING
Bank of Australia
Bird Cameron
Business
Analyst
Company Fund
Auditor
Manager
Financial
Accountant
Forensic
Accountant
Government Financial
Auditor
Analyst
Management Market
Consultant
Analyst
In 5-10 years Director Manager
Telstra
Senior
Accountant
Sothertons
Senior
Analyst
Senior
Auditor
Treasury Vail
Chartered Accountants
Wine Estates
Host Stockbrokers
Wesfarmers Westpac
Specialist
In 15-20 years Chief
Executive Officer
Chief
Financial Officer
CPA
Australia
Chartered
Accountants Australia and New Zealand
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 Bachelor of 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.
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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 disciplines within the Bachelor of Commerce degree.
The Bachelor of Commerce consists of 24 subjects, usually taken over three years of full-time study. The Bachelor of Commerce degree is very flexible and allows you to choose subjects across a range of disciplines. You must complete at least one major within the Bachelor of Commerce. The Bachelor of Commerce major in accounting is the shortest pathway to becoming a qualified accountant. To meet Bachelor of 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
Major and elective subjects
Sample course plan – Bachelor of Commerce Q Major in Accounting
11-15 subjects to deepen your accounting knowledge
Breadth subjects
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 2W
Cost Management
Corporate Law
Semester 2
Organisational Behaviour
Intermediate Financial Accounting
Business Finance E
Semester 1
Enterprise Performance Management
Financial Accounting Theory
Semester 2
Auditing and Assurance Services
Taxation Law 1
Year 1
4-8 subjects from other disciplines* *
Students pursuing the accounting major must complete three specified breadth subjects in Law to fulfill professional accreditation requirements.
Year 2
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 Bachelor of 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.
Year 3
Principles of Business Law
Compulsory subjects Accounting Subjects Specified Bachelor of Commerce electives Specified breadth subjects Free elective subjects Q 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. W There is a choice of Level-2 subjects available to fulfil the quantitative requirement for the Bachelor of Commerce. E You must complete a specified number of Bachelor of Commerce and breadth subjects at particular levels to meet Bachelor of Commerce degree requirements.
This sample course plan names compulsory subjects in the Bachelor of Commerce and all subjects required for accounting accreditation. In total, these comprise 17 of 24 subjects of 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. 5
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5 subjects to cover Business and Economics fundamentals
Study options for accounting majors The Bachelor of 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 Bachelor 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 combinations - the choice depends on your interests and career goals. You can wait until your second year to decide which discipline you wish to double major in.
WHAT BREADTH SUBJECTS CAN I DO? There are 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. Keep in mind that some subject areas have study prerequisites, and completing particular breadth subjects can lead to graduate study. Breadth subjects are available in these study areas: Agriculture,
animal studies, food science and veterinary science
Architecture, Education,
building and planning
teaching and training
Engineering
and geomatics
Environment
and natural resources
Historical,
philosophical, political and social studies
Information
technology and systems
Language,
literature and cultural studies
Law,
legal studies and criminology
Medicine, dentistry, health and welfare Music Performing
and visual arts, theatre, film and television
Sciences
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and mathematics
“I chose the Bachelor of Commerce for its international reputation, its versatility in the workforce and for its extensive network of distinguished alumni.” Ji Lian Kwan, Majors in Accounting and Finance
Studying accounting as breadth Can I do accounting subjects even if I’m not a Bachelor of Commerce student?
“My lecturers are very knowledgeable and passionate about what they are teaching. Both my lecturers and tutors always try to make classes enjoyable, and this is often demonstrated through their passion for the subject.” Jenny Pho, Majors in Accounting and Finance
Yes, you can. One of the cornerstones of University of Melbourne degrees is breadth studies – the opportunity for all students to take subjects from outside their major area of study. Breadth studies in accounting are available to students in the Bachelor of Arts, Bachelor of Biomedicine, Bachelor of Environments, Bachelor of Music and Bachelor of Science. Studying accounting as breadth will equip you to understand: different
types of business structures,
key
financial concepts used in reporting and business analysis,
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
Forensics and Fraud
The Master of Management (Accounting) offered through Melbourne Business School is ideal for non-accounting graduates looking to qualify as accountants. It is also a great option for Bachelor of 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 Chartered Accountants Australia and New Zealand (CA ANZ). The Master of Management (Accounting and Finance) program is another option, and is designed for students who would like to combine studies in both disciplines.
FIND OUT MORE mbs.unimelb.edu.au
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GRADUATE STUDY FOR NON-ACCOUNTING MAJORS
Business
bcom.unimelb.edu.au
CONTACT US University of Melbourne Information Centre Gate 3, Swanston Street The University of Melbourne Victoria 3010 Australia
13 MELB (13 6352) +61 3 9035 5511 13MELB@unimelb.edu.au
Accounting Undergraduate Information brochure
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Authorised by: Executive Director, External Relations, July 2015 Published by: The Faculty of Business and Economics Photography: Joe Vittorio, Tessa Shaw and Wei Wei Chong CRICOS Provider Code: 00116K