Undergraduate courses and subjects 2000 - Accounting and finance specialisation

Accounting and finance specialisation

Subjects taught by the department
Professional accreditation
- Accounting
- Banking and finance
  - Corporate finance specialisation
  - Traditional mainstream banking specialisation

Subjects taught by the department

First-year subjects

· AFC1021/AFC1022 Accounting principles
· AFC1031/AFC1032 Introductory financial accounting

There is a quota on these subjects for students enrolled for degrees in other faculties. Students will be allocated to one of two sequences, either AFC1021 or AFC1022, depending on their prior knowledge of accounting. Although the subject content for both sequences is identical, the method and approach may vary significantly. All students will sit for a common final examination.

Second-year subjects

Students may select one or more of the following subjects. Where prerequisites exist, they are specified in the outline of the subject concerned. Prospective honours students in accounting and finance should include at least four subjects, except for students enrolled for BCom/LLB and BEc/ LLB who should consult the head of the department.

· AFC2120 Financial accounting
· AFC2130 Management accounting
· AFC2140 Business finance
· AFC2160 Computers and accounting
· AFC2170 Capital markets and financial institutions

Third-year subjects

· AFC3120 Advanced financial accounting
· AFC3130 Advanced management accounting
· AFC3140 Advanced business finance
· AFC3160 Auditing and systems
· AFC3170 Management of financial intermediaries
· AFC3220 International financial reporting
· AFC3230 Financial analysis and valuation
· AFC3240 International finance
· AFC3340 Options, financial futures and other derivatives

Fourth-year (honours) subjects

· AFC4020 Accounting and finance honours
· AFC4040 Accounting and finance/econometrics honours

Professional accreditation

Accounting

Students who wish to obtain professional accounting qualifications should include the following subjects in their degree:

· AFC1021/AFC1022 Accounting principles and AFC1031/AFC1032 Introductory financial accounting
· BTC2110 Business law (or BTC1110 for BAcc students)
· AFC2120 Financial accounting
· AFC2130 Management accounting
· AFC2140 Business finance (or AFC1140 for BAcc students)
· BTC2210 Australian company law
· AFC3120 Advanced financial accounting
· AFC3130 Advanced management accounting or
· AFC3140 Advanced business finance
· BTC3150 Australian income tax law
· AFC3160 Auditing and systems

These are the subjects required to obtain maximum exemptions for admission to the Australian Society of Certified Practising Accountants. The Institute of Chartered Accountants in Australia requires the same subjects, except that neither AFC3130 nor AFC3140 is required.
BCom/LLB and BEc/LLB students will normally take the law subjects LAW2100, LAW5106 and LAW5213 instead of BTC2110, BTC2210 and BTC3150 to obtain professional accreditation.

Banking and finance

Students who wish to obtain maximum exemptions for senior associate membership of the Australian Institute of Banking and Finance should note that the institute now recognises several specialisations. Students should select their specialisation according to their interests, abilities and career prospects.
The educational requirements of two specialisations are as follows:

Corporate finance specialisation

· MGC1020 Introduction to management: managing organisations
· MKC2200 Principles of marketing
· AFC2140 Business finance
· AFC2170 Capital markets and financial institutions
· AFC3140 Advanced business finance
· AFC3240 International finance

However, although not strictly required for membership, students seeking professional accreditation through the corporate finance specialisation would be well-advised to also include AFC3170 in their degree.

Traditional mainstream banking specialisation

· MGC1020 Introduction to management: managing organisations
· MKC2200 Principles of marketing
· AFC2140 Business finance
· BTC3200 Finance law
· AFC3170 Management of financial intermediaries
· AFF3841 Lending decisions

Note that AFF3841 is taught on the Caulfield campus and can be counted towards the degree.