Accounting Financial accounting Management accounting Auditing and assurance services

Undergraduate information

Accounting

Financial accounting

Management accounting

Auditing and assurance services

Times Higher Education World University Rankings 2014–2015

#1

in Australia

#33

in the world

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.

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.

Exciting student experience

opportunities

As part of your degree you can join a student club, volunteer in communities, travel overseas, and build your

professional skills.

Ranked 13th in the world for

graduate employability

E Our graduates are known for their perceptive understanding of business issues, skilful communication and strong leadership.

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.

Contents

Major in accounting 2 Accounting careers 4 Studying the accounting major 5 Study options for

accounting majors 6 Studying accounting as breadth 7 Contact us Back cover

Accounting is described as the language of business. It

provides business intelligence that communicates how

organisations work and how they are performing.

Major in

Accounting

Q QS World University Rankings by Subject 2015

W Times Higher Education World University Rankings 2015

3

Elisa Xu Recruiter, Singapore

Accoutning

WHERE COULD THE

ACCOUNTING MAJOR

TAKE YOU?

Michael Fernandopulle Senior Associate, U.K Alexandra Taylor Financial Analyst, Australia Yanuar Kurniawan Management Consultant, Indonesia Mio Matsuda Graduate Accountant, Australia Patrick Kelly Accountant, Australia Vanessa Sunggono Assurance Associate, Indonesia Lucy Susilo Product Sales Lead, Singapore

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.

CAREER PROGRESSION

IN ACCOUNTING

Sample job titles

Your first job

„ „ Business Analyst „ „ Company Auditor „ „ Fund Manager „ „ Financial Accountant „ „ Forensic Accountant „ „ Government Auditor „ „ Financial Analyst „ „ Management Consultant „ „ Market Analyst In 5-10 years „ „ Director „ „ Manager „ „ Senior Accountant „ „ Senior Analyst „ „ Senior Auditor „ „ Specialist In 15-20 years „

„ Chief Executive Officer

„

„ Chief Financial Officer

PROFESSIONAL

ACCREDITATION

Bachelor of Commerce graduates who complete the accounting major are eligible to apply for associate membership of the three professional accounting bodies:

„

„ 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.

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

5

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.

Studying the accounting major

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

5 subjects to cover Business and Economics fundamentals

Major and elective subjects

11-15 subjects to deepen your accounting knowledge

Breadth subjects

4-8 subjects from other disciplines* * _{Students pursuing the accounting major} must complete three specified breadth subjects in Law to fulfill professional accreditation requirements.

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.

Sample course plan – Bachelor of CommerceQ

Major in Accounting

Year 1

Semester 1 Introductory Micro- economics Quantitative Methods 1 Accounting Reports and Analysis

Semester 2 Introductory Macro- economics Introductory Financial Accounting Accounting Processes and Analysis Principles of Business Law Year 2

Semester 1 Quantitative _{Methods 2}

W

Cost

Management Corporate Law

Semester 2 Organisational _Behaviour Intermediate Financial Accounting

Business FinanceE

Year 3

Semester 1 Enterprise Performance Management

Financial Accounting Theory

Semester 2 Auditing and Assurance Services

Taxation Law 1

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.

“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

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, building and planning

„

„ Education, 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

„

7

Studying accounting as breadth

Can I do accounting subjects even if I’m not a Bachelor of Commerce student?

GRADUATE STUDY FOR

NON-ACCOUNTING MAJORS

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

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

„

„ Business Forensics and Fraud

Accoutning

“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

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

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Disclaimer

The University of Melbourne has used its best endeavours to ensure that the material contained in this publication was correct at the time of printing. The University gives no warranty and accepts no responsibility for the accuracy or completeness of information and the University reserves the right to make changes without notice at any time in its absolute discretion.

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