Accounting Financial accounting Management accounting Auditing and assurance services

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1 Undergraduate information Financial accounting Management accounting Auditing and assurance services

2 Contents Major in accounting 2 careers 4 Studying the accounting major 5 Study options for accounting majors 6 Studying accounting as breadth 7 Contact us Back cover Major in is described as the language of business. It provides business intelligence that communicates how organisations work and how they are performing. #1 in Australia #33 in the world Times Higher Education World University Rankings 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? 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.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. Q QS World University Rankings by Subject 2015 W Times Higher Education World University Rankings 2015 E QS World University Rankings

3 WHERE COULD THE ACCOUNTING MAJOR TAKE YOU? 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 Accoutning Lucy Susilo Product Sales Lead, Singapore Patrick Kelly Accountant, Australia Alexandra Taylor Financial Analyst, Australia 3

4 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 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 4 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 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.

5 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 5 subjects to cover Business and Economics fundamentals Major and elective subjects 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 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 Commerce Q Major in Year 1 Year 2 Year 3 Semester 1 Semester 2 Semester 1 Semester 2 Semester 1 Semester 2 Introductory Microeconomics Introductory Macroeconomics Quantitative Methods 2W Organisational Behaviour Enterprise Performance Management Auditing and Assurance Services Quantitative Methods 1 Introductory Financial Cost Management Intermediate Financial Financial Theory Taxation Law 1 Reports and Analysis Processes and Analysis Corporate Law Business FinanceE Principles of Business Law Compulsory subjects 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, you will also need to do either Basic Econometrics or Econometrics in your final year. 5 Accoutning

6 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. 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 and Finance 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 Sciences and mathematics 6

7 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 and Finance GRADUATE STUDY FOR NON-ACCOUNTING MAJORS The Master of Management () 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 ( and Finance) program is another option, and is designed for students who would like to combine studies in both disciplines. 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. Reports and Analysis Introductory Financial Business Forensics and Fraud Accoutning FIND OUT MORE mbs.unimelb.edu.au 7

8 bcom.unimelb.edu.au CONTACT US University of Melbourne Information Centre Gate 3, Swanston Street The University of Melbourne Victoria 3010 Australia 13 MELB ( ) MELB@unimelb.edu.au Undergraduate Information brochure Intellectual property Copyright in this publication is owned by the University and no part of it may be reproduced without the permission of the University. For further information refer to Statement on Privacy Policy When dealing with personal or health information about individuals, the University of Melbourne is obliged to comply with the Information Privacy Act 2000 and the Health Records Act For further information, refer to: unimelb.edu.au/unisec/privacy 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 CRICOS Provider Code: 00116K