Bachelor of Business Specialist Detailed Course Requirements The 2016 Monash University Handbook will be available from October 2015. This document contains interim 2016 course requirements information. Description Course outcomes Course requirements Progression to honours Bachelor of Business Specialist Detailed Course Requirements January 2015 v1.0 Page 1 of 7
Description The focus of this course is business practice. It is designed to provide graduates with high-level skills in business and in a specialised field of business. As a graduate you will be qualified to pursue a career in a wide variety of business occupations after choosing to focus on one of the following specialisations: Accounting Banking and Finance International Business Marketing The course allows you to focus your studies from the start, blending a conceptual theoretical framework with practical applications and covers basic discipline material through to more specialised discipline requirements. Bachelor of Accounting: Accounting will prepare you for a career in accounting or related fields in the public or private sectors with excellent conceptual knowledge and technical skills in financial accounting, management accounting, corporate finance, taxation, auditing and financial analysis. Bachelor of Banking and Finance: Banking and Finance will give you the skills to manage money in institutional settings, such as banks or investment houses. You will learn about key banking and finance concepts, and how to assess the financial needs of companies and individuals and match them to suitable financial products. You will be qualified to work in banking and finance environments, in roles such as portfolio manager, business banker, funds manager or loan adviser. Bachelor of International Business: International Business provides you with an inter-disciplinary understanding of issues affecting contemporary international firms, their strategy, corporate policies and operations. International business develops your knowledge and skills for the international economic, financial, political, legal, managerial and strategic environment of business. An accounting stream is also available within the international business specialisation. Bachelor of Marketing: Marketing will provide you with the analytic, creative and strategic skills to be a specialist marketer. You will gain comprehensive marketing knowledge, and be able to use this to make marketing decisions that drive value in business. Please refer to the Faculty Professional recognition page for more information regarding the professional accreditation of each of these specialisations. Specialisations Accounting Accounting involves the systematic recording, reporting, and analysis of financial transactions. It plays a pivotal role in the financial monitoring and control in every organization private or public, small or large. The accounting process affords managers the skills to assess their financial performance, and report crucial financial information to the users including to executives, shareholders and other stakeholders. This specialisation will equip you with the skills required to be an accountant in the modern world by focusing on a high level of technical and generic skills. These include accounting and reporting for internal and external users; and the development of communication, critical thinking and analytical skills to prepare you to meet the challenges of a rapidly changing competitive business environment. Bachelor of Business Specialist Detailed Course Requirements January 2015 v1.0 Page 2 of 7
Banking and Finance Banking and finance is the system that includes the circulation of money, the granting of credit, the making of investments, the acquisition of financing and the provision of banking facilities. The focus of the specialisation is on institutions and on developing broad skills in finance. You will learn and apply theory and concepts in finance to enable you to critically evaluate and make decisions regarding capital markets, the functions of financial intermediaries, commercial banking, lending, international finance, valuation of financial securities and firms, money market dealing, financial forecasting, options, futures, derivatives, bonds and stocks. International business International business is the study of international firms: their strategy, corporate policies and operations. Almost all firms compete in international markets or compete against international competitors. This specialisation offers a practical business education course designed to prepare graduates for leadership roles in contemporary businesses. It will provide you with the ability to understand the issues affecting contemporary international businesses and to provide both practical and theoretical knowledge and skills in international business related areas. You will also have the option to include a professional accounting sequence. Marketing Marketing is the process of creating, communicating, delivering and exchanging offerings that have value for customers. This specialisation is designed for the person whose passion is to think and act as a professional marketer and possess the know-how for making successful marketing decisions. Marketing studies are combined with a general business education to ensure that you have a broad perspective of business from which to enter and progress in your marketing career. Students awarded the Marketing degree will be able to use their extensive marketing knowledge and skills - analytic, creative, and strategic - to drive value for their business. Course outcomes These course outcomes are aligned with the Australian Qualifications Framework level 7, the Bologna Cycle 1 and Monash Graduate Attributes. Upon successful completion of this course it is expected that you will: be critical and creative scholars who: produce innovative solutions to problems apply research skills to business challenges communicate effectively and perceptively be responsible and effective global citizens who: engage in an internationalised world exhibit cross cultural competence demonstrate ethical values demonstrate broad knowledge and technical skills in their specialisation and provide discipline based solutions relevant to the business, professional and public policy communities that we serve. In particular: Accounting graduates will: Bachelor of Business Specialist Detailed Course Requirements January 2015 v1.0 Page 3 of 7
o exercise judgement under supervision to solve routine accounting problems in straightforward contexts using social, ethical, economic, regulatory and global perspectives; o integrate theoretical and technical accounting knowledge which includes a selection of auditing, finance, economics, quantitative methods, and information systems; o critically apply theoretical and technical accounting knowledge and skills to solve routine accounting problems; o justify and communicate accounting advice and ideas in straightforward collaborative contexts involving both accountants and non-accountants; and o reflect on performance feedback to identify and action learning opportunities and selfimprovements. Banking and finance graduates will explain technical and theoretical banking and finance concepts; comply with the Australian Business Dean s Council endorsed Finance Learning Standards of knowledge, application, judgement, communication and teamwork; and reflect, formulate and present banking and finance proposals. International business graduates will use international business knowledge to enhance opportunities and to resolve challenges confronting international organisations. Marketing graduates will have the acumen to use their in-depth marketing knowledge to drive business performance; and comply with the Australian Business Dean s Council endorsed Marketing Learning Standards of social responsibility, analysis, knowledge, judgement and communication. demonstrate a well-developed understanding of multi-disciplinary decision making in organisations via application of knowledge from core business discipline areas. Course requirements The course comprises 144 points, of which 96 points must be focussed on commerce study and 48 points are used to provide additional depth or breadth. The course develops through the four themes: A. Foundation business knowledge, B. Specialist discipline knowledge, C. Capstone experience and D. Breadth/depth study. Free electives may be at any level but in choosing your units, note that no more than 10 units (60 points) at level 1 can be credited to your Business specialist course and a minimum 36 points must at level 3, of which at least 24 points of level 3 units must be from those offered by the Faculty of Business and Economics at the Caulfield campus or the City campus depending on the award you are undertaking. The course progression maps will assist you to plan how to fulfil course requirements. Units are six credit points unless otherwise stated. A. Foundation business knowledge (18 points) All students complete: ECF1100 Microeconomics ETF1100 Business statistics ACX1000 Accounting for managers or ACX1100/ACF1100 Introduction to financial accounting as follows: Accounting students complete ACX1100 Introduction to financial accounting International Business students complete ACF1100 Introduction to financial accounting Bachelor of Business Specialist Detailed Course Requirements January 2015 v1.0 Page 4 of 7
Banking and Finance students complete ACX1000 Accounting for managers or ACX1100 Introduction to financial accounting Marketing students complete ACX1000 Accounting for managers B./C. Specialist discipline knowledge and capstone (78 points) ACCOUNTING ACX2100 Financial accounting ACX2200 Introduction to management accounting ACX2400 Accounting information systems ACX3100 Advanced financial accounting ACX3150 Financial analysis and valuation ACX3200 Management accounting ACX3600 Auditing and assurance ACF3900 Global issues in accounting (capstone) BFX2140 Corporate finance 1 BTF1010 Business law BTF3931 Taxation law BTX2000 Corporations law And one of the following units: ACX2900 Accounting for sustainability ACX3250 Advanced management accounting ACX3500 International study program in accounting BEX3006 Industry based learning project BEX3106 Industry based learning project BEX3350 Investigative project in business BTF3699 Insolvency BTX3350 Business taxation ETF2121 Data analysis in business BANKING AND FINANCE BFF2401 Commercial banking and finance BFF3111 Personal financial planning OR BFF3351 Investment banking BFF3121 Investments and portfolio management BFF3331 International banking and finance BFF3651 Treasury management BFF3841 Credit analysis and lending management BFF3999 Financial institutions and society (capstone) BFX1001 Foundations of finance BFX2140 Corporate finance 1 BFX2751 Derivatives 1 BTF2601 Banking Law ECF1200 Macroeconomics ETF2100 Introductory econometrics INTERNATIONAL BUSINESS ACF2400 Accounting information systems Bachelor of Business Specialist Detailed Course Requirements January 2015 v1.0 Page 5 of 7
BFX1001 Foundations of finance BTF1010 Business law FIT3152 Data science MGF1010 Introduction to management MGF2351 International business MGF3681 International management MGX3121 International business strategy (capstone) MKF1120 Marketing theory and practice and 24 points chosen from Study abroad at a group of selected universities in the region Two units offered by other faculties BEX3012/BEX3112 Industry based learning project (12 points) BEX3350 Investigative project in business BEX3450 Investigative project in business (12 points) MARKETING BTF3181 Marketing law MGF1010 Introduction to management MKF1120 Marketing theory and practice MKF2111 Buyer behaviour MKF2131 Marketing decision analysis MKF2121 Marketing research methods MKF2801 Marketing insights MKF3121 Marketing planning and implementation MKF3131 Strategic marketing (capstone) MKF3461 Marketing communication And three of the following units: MKF2401 Marketing issues in packaging design MKF2521 Brand management MKX2500 Retail management principles MKF3471 Sales management and negotiation MKF3710 Specialised applications in marketing MKF3881 Digital marketing, MKX3481 Marketing channels MKX3521 Global study programs in marketing MKX3621 Advertising management and campaigns MKX3631 Marketing internship D. Breadth/depth study (48 points) For students in the three Caulfield based specialisations: Accounting, Banking and Finance, and Marketing These are elective units and may be used to develop further depth and breadth in business or could be units chosen from across the University (including to complete a major or minor from another course), so long as you have the prerequisites and there are no restrictions on admission to the units. The units may be at any level, however, no more than 10 units (60 points) are to be completed at level 1 in the Bachelor of Business Specialist course and a minimum of 36 points must be completed at level 3. Bachelor of Business Specialist Detailed Course Requirements January 2015 v1.0 Page 6 of 7
For students in double degree courses, some units required for the other degree are credited as electives towards the Business Specialist degrees. For students in the CBD based specialisation: International Business These units may be used to further strengthen your knowledge of International Business or to add a Professional Accounting stream as follows: Professional Accounting stream students complete: ACF2100 Financial accounting ACF2200 Introduction to management accounting ACF3100 Advanced financial accounting ACF3200 Management accounting ACF3600 Auditing and assurance BFX2140 Corporate finance 1 BTX2000 Corporations law BTF3931 Taxation law International Business stream students complete: BFF2341 International financial management BTF3201 International trade law ECF1200 Macroeconomics ECF2331 Macroeconomic and monetary policy ECF2721 Trade finance and foreign exchange ECX3550 Business in Asia MGF1100 Managerial communication MKF2111 Buyer behaviour Progression to honours Students successfully completing any of the specialisations in the Bachelor of Business Specialist may proceed to a one year honours program leading to the Bachelor of Commerce (Honours). Applicants must have completed a bachelor degree, with a specialisation in the related discipline and have achieved an average equivalent to at least 70% in relevant second and third level units. In addition, some fields require particular level 3 elective units to be taken for admission to honours. Bachelor of Business Specialist Detailed Course Requirements January 2015 v1.0 Page 7 of 7