Accounting and finance specialisation

• Subjects taught by the department
  • First-year subjects
  • Second-year subjects
  • Third-year subjects
  • Fourth-year (honours) subjects
• 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
• AFC1030 Introductory financial accounting
• AFC1100 Introduction to finance

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.

• AFC2100 Introduction to finance
• AFC2120 Financial accounting
• AFC2130 Management accounting
• AFC2140 Business finance
• AFC2160 Computers and accounting
• AFC2170 Capital markets and financial institutions
• AFC2240 Equities and investment analysis

Note that students cannot obtain credit for both AFC1100 and AFC2100.

Third-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.

• 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
• AFC3440 Pension and financial planning

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 AFC1030 Introductory financial accounting
• BTC1110/BTC2110 Business law
• AFC2120 Financial accounting
• AFC2130 Management accounting
• AFC2140 Business finance
• 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
• ECC1000 Principles of microeconomics
• ECC1100 Principles of macroeconomics
• ETC1000 Business and economics statistics required to obtain maximum exemptions for admission to CPA Australia. The Institute of Chartered Accountants in Australia requires the same subjects, except that neither AFC3130 nor AFC3140 is required. Maximum exemptions can be achieved within the Bachelor of Commerce degrees. In the case of double degrees, overloads of one to two subjects may be necessary.
  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 Australasian 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 the two specialisations are as follows:

  Corporate finance specialisation

  Students must complete the following three subjects:

  • MGC1010 Managing people and organisations
  • MKC1200/MKC2200 Principles of marketing
  • AFC2140 Business finance

  plus any three of the following subjects:

  • AFC1100/AFC2100 Introduction to finance*
  • AFC2240 Equities and investment analysis
  • AFC3140 Advanced business finance
  • AFC3240 International finance
  • AFC3340 Options, financial futures and other derivatives

  * NOTE: STUDENTS WHO COMPLETED AFC2170 (CAPITAL MARKETS AND FINANCIAL INSTITUTIONS) IN 2000 OR EARLIER MAY SUBSTITUTE THIS SUBJECT FOR AFC1100/ 2100.
  However, although not strictly required for membership, students seeking professional accreditation through the corporate finance specialisation would be well-advised to also include AFC3170 (Management of financial intermediaries) in their degree.

  Traditional mainstream banking specialisation

  • MGC1010 Managing people and organisations
  • MKC1200/MKC2200 Principles of marketing
  • AFC2140 Business finance
  • AFC3170 Management of financial intermediaries
  • BTC3200 Finance law
  • AFF3841 Lending decisions

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

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