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Department of Accounting and Finance

Accreditation

Undergraduate

The professional accounting sequence provides students with a "major" (coherent study) in accounting that meets the tertiary education requirements of CPA Australia for "CPA" status, the Institute of Chartered Accountants in Australia (ICAA) for "CA" status and the National Institute of Accountants (NIA) for 'PNA' status. The undergraduate study pattern which fulfills these requirements is the BCom-Accg (study pattern Professional Accounting (COMM04)), though the double degrees of BAppFin BCom-Accg (study pattern Applied Finance and Professional Accounting (APFI03)) and BCom-Accg LLB  (study pattern Professional Accounting + Law (COMM05)) can also be considered. Students are advised to check with CPA Australia, the Institute of Chartered Accountants and the National Institute of Accountants for current requirements.

The professional accounting sequence is a three year full-time or six year part-time program which provides an excellent foundation for a range of accounting-based careers. The sequence combines core units in accounting with a range of business related units in computing, statistics, economics, commercial law and financial management. The core units in accounting cover the areas of financial accounting, management accounting, and accounting systems design and auditing. Each of these areas is outlined briefly below.

Financial Accounting

Students start by learning how to prepare financial reports (Profit and Loss Statements, Balance Sheets and Cash Flow Statements) for simple business entities such as sole traders, partnerships and small companies. More advanced units focus on report preparation and accounting procedures and practices for more complex business structures such as groups of companies, joint ventures and superannuation plans.

In the financial accounting units, the aim is to provide students with:

  • an understanding of the concepts and principles which underpin the preparation of external financial reports

  • a thorough knowledge of the accounting techniques and procedures used to prepare these reports, and

  • an appreciation of how the accounting information provided in the reports is used in decision-making by external users, such as shareholders and creditors.

Management Accounting

Here the focus shifts to the provision of accounting information to support organisational decision-making, and management planning and control. The units cover both technical issues such as costing techniques and budgeting, and also broader organisational and behavioural issues, recognising that the management accounting system must operate effectively within the specific context of the organisation and through the people in the organisation.

Accounting Systems Design and Auditing

In these units students learn how accounting systems within the organisation are designed to enable the efficient and reliable generation of accounting information for both internal and external report preparation purposes. This area of study also focuses on the procedures and tests undertaken by external auditors in their role of verifying financial reports prepared for users external to the organisation.

The professional accounting sequence allows students a choice of five elective units to make up the necessary credit points required for a Bachelor of Commerce (Accounting). These units may be selected from within the Faculty of Business and Economics or from other Faculties in the University. Popular choices include units in finance, marketing or behavioural sciences.

Postgraduate

The Department of Accounting and Finance offers a postgraduate coursework program that is fully accredited by CPA Australia and The Institute of Chartered Accountants. The Postgraduate Diploma/Master of Accounting course allows those who hold a bachelor degree in any discipline to earn widely recognised and respected postgraduate academic qualifications in accounting from Macquarie University, as well as achieving Australian CPA or Chartered Accountant status.

The postgraduate program incorporates