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Accounting Undergraduate information

Financial accountingManagement accounting

Auditing and assurance services

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Accounting is described as the language of business. It provides business intelligence that communicates how organisations work and how they are performing.

Commerce major in Accounting

TAke your degree overseAsTravel 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.

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.

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 10th in the world for graduate employability3

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

over $2m in exclusive commerce scholarships

Be rewarded for your hard work in high school and at uni, through one of Australia’s most generous scholarship programs.

Why choose melbourne?

ranked 8th in the world for Accounting1

Study at Australia’s best university.2 Learn from internationally renowned academics, with some of the world’s brightest students.

1QS World University Rankings by Subject 20142Times Higher Education World University Rankings 2013-14

3QS World University Rankings 2013

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Alexandra Taylor Financial analyst, Australia

yanuar kurniawan Management consultant, Indonesia

Adam fedai Management consultant, Australia

vin li yap Investment banker, Malaysia

Patrick kelly Accountant, Australia

elisa Xu Recruiter, Singapore

madhur jain Entrepreneur, India

Where could The AccounTIng mAjor TAke you?

hannah Wu Accountant, Hong Kong

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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 ANZArrow Wealth ManagementAustralian Taxation OfficeBank Negara Malaysia Brown Hamilton PartnersBDO Australia Commonwealth BankDBS Bank DeloitteErnst & YoungFlagstaff PartnersFordham Business Advisors General Electric Grant Thornton Australia HSBC Jardine Matheson Holdings KPMGKordaMentha LazardL.E.K. ConsultingLion National Australia BankMoore Stephens Norfolk Trading Nova Accounting Partners OCBC Bank PricewaterhouseCoopersPitcher PartnersReserve Bank of AustraliaRSM Bird CameronTelstraSothertons Chartered AccountantsTreasury Wine Estates Vail Host StockbrokersWesfarmersWestpac

cAreer ProgressIon In AccounTIngSample job titles

Chief Executive Officer Chief Financial Officer Partner

Director

Manager

Senior Accountant

Senior Analyst

Senior Auditor

Specialist

Business Analyst

Company Auditor

Fund Manager

Financial Accountant

Forensic Accountant

Government Auditor

Financial Analyst

Management Consultant

Market Analyst

your first job

In 5-10 years

In 15-20 years

Melbourne 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 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.

ProfessIonAl AccredITATIon

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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.

sample course plan – bachelor of commerce1

Major in Accounting

Year 1

Semester 1Introductory Micro-economics

Quantitative Methods 1

Accounting Reports and Analysis

Semester 2Introductory Macro-economics

Introductory Financial Accounting

Accounting Processes and Analysis

Principles of Business Law

Year 2

Semester 1 Quantitative Methods 22

Cost Management Corporate Law

Semester 2 Organisational Behaviour

Intermediate Financial Accounting

Business Finance

Year 3

Semester 1Enterprise Performance Management

Financial Accounting Theory

Semester 2Auditing and Assurance Services

Taxation Law 1

1 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.

2 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.

3 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.

bachelor of commerce24 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

breadth subjects

4-8 subjects from other disciplines*

Compulsory subjects Accounting subjects Specified Commerce electives Specified breadth subjects Free elective subjects3

Studying the accounting major

honours In AccounTIngIf 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.

* Students pursuing the accounting major must complete three specified breadth subjects in law to fulfill professional accreditation requirements.

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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.

Study options for accounting majors

• Agriculture,animalstudies,foodscience and veterinary science

• Architecture,buildingandplanning

• Education,teachingandtraining

• Engineeringandgeomatics

• Environmentandnaturalresources

• Historical,philosophical,politicalandsocial studies

• Informationtechnologyandsystems

• Language,literatureandculturalstudies

• Law,legalstudiesandcriminology

• Medicine,dentistry,healthandwelfare

• Music

• Performingandvisualarts,theatre,film and television

• Sciencesandmathematics

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:

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.

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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Studying accounting as breadth

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.

Breadth studies in accounting are available to students in the Bachelor of Arts, Biomedicine, Environments, Music or 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.

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.

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.

can I do accounting subjects even if I’m not a commerce student?

forensIc AccounTIng breadth trackUnderstand the business environment and business fraud processes in Australia and internationally, the motivators for committing fraud, fraud prevention, types of fraud and fraud detection.

• AccountingReportsandAnalysis

• IntroductoryFinancialAccounting

• BusinessForensicsandFraud

grAduATe sTudy for non-AccounTIng mAjorsThe 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

Accounting Undergraduate Information brochureAuthorised by: ProvostPublished by: The Faculty of Business and EconomicsPhotography: Joe VittorioCRICOS Provider code: 00116KIntellectual Property: For further information refer to www.unimelb.edu.au/Statutescopyright: 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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