1999 Business and Economics Handbook - Bachelor of Commerce (Accounting and Finance)

Bachelor of Commerce (Accounting and Finance) - BCom(Acc&Fin)

General
Course objectives
Professional accreditation
Course structure

General

Course code: 2015
The Bachelor of Commerce (Accounting and Finance) degree provides a substantive sequence of subjects in accounting and/or finance along with coherent sequences of subjects in the areas of business statistics and econometrics, management, marketing, business law and taxation, and economics. For details of the subjects available in this specialisation see 'Specialisations in accounting and finance'.

Course objectives

On completion of the Bachelor of Commerce (Accounting and Finance) degree students should:

have an understanding of the issues underlying major corporate, government and economic policies and an ability to appraise the implications of those major policy decisions in the context of the Australian and international environments;
have developed certified analytical and technical skills to assist with solving problems that may arise in their future careers in business, the public sector and the professions;
have a continuing commitment to and capacity for independent critical thought and further learning;
have a critical understanding of the operations of business, government and the economy, and the management of these for the benefit of society;
be able to communicate effectively, both orally and in writing, in their areas of expertise;
have developed basic skills in economic analysis, quantitative and computer methods, accounting principles and management;
have a specialised level of skills and knowledge in one or more of the disciplines taught within the faculty - accounting, finance, econometrics, economic history, economics and management;
have had the opportunity to develop the skills, knowledge and motivation necessary for postgraduate study and research;
have satisfied the membership requirements of the Australian Society of Certified Practising Accountants, The Institute of Chartered Accountants in Australia, and the Australian Institute of Banking and Finance provided the appropriate selections of subjects were chosen.

Professional accreditation

This degree is recognised by both the Australian Society of Certified Practising Accountants and The Institute of Chartered Accountants in Australia as meeting academic requirements for membership. This is also true for senior associate membership of the Australian Institute of Banking and Finance. For all professional bodies membership is dependent upon the correct choice of subjects by students. However, an exceptional feature of this degree is that students can meet the membership requirements of all three bodies simultaneously in a single three-year degree.

Course structure

The pass degree requires the satisfactory completion of twenty-four subjects, or subjects to the value of a total of 144 credit points, over a minimum of three full-time years or a maximum of eight years of study. Students may include in their degree subjects to the value of thirty-six credit points from disciplines outside the faculty, normally on the basis of twelve credit points at each year level. All first, second and third-year subjects offered by the Faculty of Business and Economics (Clayton) have a credit value of six points. Full-time students are expected to progress at the rate of eight subjects or forty-eight credit points per year. First-year students normally may not take a second-year subject until at least four first-year subjects have been completed successfully. It should be noted that subjects in the later years of the course have prerequisites and corequisites. In addition, students are expected to take subjects in a yearly sequence even if there are no prerequisite subjects specified. The course structure is shown in chart 3 in the section 'Charts of degree structures'. All category A and category B subjects are limited to those taught on the Clayton campus.

First year

The first year of the degree will comprise eight semester subjects totalling forty-eight credit points, of which the following shall be compulsory:

ECC1000 and ECC1010 (Economics)
ETC1020 and ETC1031 (Business and economic statistics)
AFC1021/AFC1022 (Accounting principles) and AFC1031/AFC1032 (Introductory financial accounting)

The remaining two semester subjects may be selected from other first year subjects taught on the Clayton campus by the departments of the faculty or from another faculty. This enables students to complete substantial work in a related field such as management, economic history, marketing, or in another field such as a language or computing.

Second year

The structure of the second and third years of the degree is similar. Each year comprises eight semester-length subjects, or the equivalent of forty-eight credit points.
To maintain a coherent course structure, subjects may be selected from three categories: major specialisation (category A), supporting studies (category B) and electives (category C). Category A subjects represent a specialised sequence of study of subjects taught by the Department of Accounting and Finance. This specialisation will then be followed throughout the second and third years of the course. For the area of specialisation (category A), students are required to choose between four and six second-year subjects, or subjects with a total credit value between twenty-four and thirty-six points.
Supporting studies (category B) subjects comprise subjects offered by the faculty's departments on the Clayton campus from areas other than category A. Supporting studies subjects might be management, marketing, economics, business law and taxation, or quantitative studies, any two of which may be from first-year subjects. Between two and four second-year subjects, or subjects with a credit value of between twelve and twenty-four points, must be selected from this category.
Elective subjects (category C) comprise subjects from other faculties or from a limited list of faculty subjects from other campuses and students may include up to two subjects, or subjects with a credit value of a maximum of twelve points, in this category. (Whilst each subject offered by the Faculty of Business and Economics (Clayton) has a points value of six, the points value of subjects taken from other faculties may vary, and where this occurs, students must complete the minimum number of points rather than the number of subjects recommended.) If desired, it is possible to substitute up to two first-year subjects for second-year subjects in this category, although students may only include a total of two first-year subjects to the value of twelve points in the second-year program overall.
In summary form the structure of second year is:

Major specialisation (category A): Four to six second-year level subjects, to the value of twenty-four to thirty-six credit points from the Department of Accounting and Finance.
Supporting studies (category B): Two to four second-year level subjects, to the value of twelve to twenty-four points. Subject areas from management, marketing, economics, business law and taxation, or quantitative studies.
Electives (category C): Up to two second-year level subjects, to the value of a maximum of twelve points, in subject areas from those offered by other faculties or from a limited list of faculty subjects offered on other campuses.

In the case of supporting studies or electives, either category B or C, two first-year subjects to the value of twelve credit points can be substituted for two second-year subjects.
At any year level of the course an absolute limit equal to the maximum number of category A subjects allowable at that year level is placed upon subjects selected from the following groupings of subjects within the faculty:

Department of Accounting and Finance and Department of Business Law and Taxation subjects across all campuses
Department of Econometrics and Business Statistics subjects across all campuses
Department of Economics subjects across all campuses
Department of Management subjects and Department of Marketing subjects across all campuses.

Students must have their program of study approved by the course director or the course director's nominee.

Third year

For the area of specialisation (category A), students are required to choose between four and seven third-year subjects, or subjects with a total credit value between twenty-four and forty-two points.
Supporting studies (category B) subjects are to be chosen from third-year subjects offered on the Clayton campus by any department of the faculty, excluding the area of specialisation. Between one and four third-year subjects, or subjects with a credit value of between six and twenty-four points, must be selected from this category.
Elective subjects (category C) comprise subjects from other faculties or from a limited list of faculty subjects from other campuses and students may include up to two subjects, or subjects with a credit value of a maximum of twelve points, in this category. If desired, it is possible to substitute up to two second-year subjects for third-year subjects in this category, although students may only include a total of two second-year subjects to the value of twelve points in the third-year program overall.
In summary form the structure of third year is:

Major specialisation (category A): Four to seven third-year level subjects, to the value of twenty-four to forty-two credit points from the department of Accounting and Finance.
Supporting studies (category B): One to four third-year level subjects, to the value of six to twenty-four points. Subject areas from management, economics, or quantitative studies.
Electives (category C): Up to two third-year level subjects, to the value of a maximum of twelve points, in subject areas from those offered by other faculties or from a limited list of faculty subjects offered on other campuses.

In the case of supporting studies or electives, either category B or C, two second-year subjects to the value of twelve credit points can be substituted for two third-year subjects.
The same absolute limit of subjects from the subject groupings listed for second year also applies to third year.
As in first and second year, students must have their program of study approved by the course director or the course director's nominee prior to commencement of the relevant year.