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Monash University: University handbooks: Postgraduate handbook: Units indexed by faculty
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Professional recognition

The Faculty of Business and Economics offers both specialist and generalist degrees that enable graduates to satisfy educational requirements for professional registration or membership. During the course of their studies, students should be careful to ensure the units they take are those required for the profession of their choice. The following information provides details of the units required for selected professional registration or membership.

Accounting

The faculty offers specially designed programs that enable candidates to satisfy educational requirements of CPA Australia and The Institute of Chartered Accountants in Australia (ICAA). The on-campus programs at the Caulfield campus are the Master of Business (Accounting), Master of Practising Accounting, Master of Professional Accounting, Postgraduate Diploma in Advanced Accounting and Graduate Diploma in Accounting. The Graduate Diploma in Accounting is also offered off-campus.

CPA Australia: associate membership of CPA Australia and entry to the CPA Program

The following lists the units accredited by CPA Australia. Graduate students enrolled in the 12-unit Master of Practising Accounting or the 16-unit Master of Professional Accounting must include all the units in their program. Graduate students enrolled in the eight-unit Graduate Diploma in Accounting can meet the educational requirements for associate membership if their prior undergraduate studies included studies that CPA Australia deems equivalent to four of the units listed and not studied as part of their Graduate Diploma in Accounting. Candidates with less than four equivalent units in their undergraduate degree should note that CPA Australia does not require either taxation law or auditing and assurance for admission as an associate member.

Caulfield: on-campus
  • AFX4601 Financial accounting 1
  • AFX5611 Managerial accounting
  • AFX5621 Auditing and assurance
  • AFX5631 Financial accounting 2
  • AFX9500 Introductory accounting and financial information systems 1
  • AFX9510 Quantitative methods
  • AFX9521 Introductory accounting and financial information systems 2
  • AFX9641 Business finance
  • BTF4541 Corporations law and trusts
  • BTX5651 Taxation law
  • BTX9020 Business law
  • ECF9530 Economics
Gippsland: off-campus
CPA Australia: CPA Program

CPA status and full membership of CPA Australia requires completion of a three-year Practical Experience Mentor Program and the CPA Program, which comprises three elective segments from a set of nine and three compulsory segments. The faculty offers two programs, namely the 16-unit Master of Business (Accounting) and the eight-unit Postgraduate Diploma in Advanced Accounting, which include CPA units/segments. In 2006, the faculty will offer five of the nine electives and two of the three compulsory units/segments. The regulations permit students to make an application for credit if they complete the third compulsory segment (Business Strategy and Leadership) with CPA Australia. While students enrolled in the Master of Business (Accounting) can complete six CPA units/segments, the regulations permit students enrolled in the Postgraduate Diploma in Advanced Accounting to complete only five. Even so, upon successful completion of the postgraduate diploma students can articulate to the second year of the masters program and thereby take the sixth CPA unit/segment.

Institute of Chartered Accountants in Australia (ICAA): entry to the CA Program

The following lists the units accredited by the ICAA and which satisfy the educational requirements for admission to the CA Program. It should be noted that full membership of the ICAA requires completion of mentored work experience and the CA Program, which comprises four technical modules and one final integrative module.

Caulfield: on-campus
  • AFX4601 Financial accounting 1
  • AFX5611 Managerial accounting
  • AFX5621 Auditing and assurance
  • AFX5631 Financial accounting 2
  • AFX9500 Introductory accounting and financial information systems 1
  • AFX9641 Business finance
  • BTF4541 Corporations law and trusts
  • BTX5651 Taxation law
  • BTX9020 Business law
Gippsland: off-campus
Banking, finance and securities industries: membership of the Institute of Securities Finance and Banking (a merger of the Australasian Institute of Banking and Finance and the Securities Institute of Australia)

Graduates of the Master of Banking and Master of Business (Banking and Finance) and a number of other postgraduate programs offered by the faculty are expected to satisfy the educational requirements of this new professional institute. Details will be published as they emerge.

Membership of The Finance and Treasury Association

Graduates of the Master of Applied Finance and Master of Banking meet the educational components of the criteria for membership at Certified Finance and Treasury Professional (CFTP) level.

Financial product adviser

A number of units offered by the Department of Accounting and Finance meet the training standards set down by the Australian Securities and Investment Commission’s Policy Statement 146 (PS146) and are listed on ASIC’s eTraining Register. Students contemplating a career in financial planning are advised to consult the eTraining Register or a course adviser prior to enrolment. It is intended that subsequent to a review, which is expected to be completed prior to the commencement of the 2006 academic year, that the Executive Certificate in Financial Planning and the Graduate Certificate in Financial Planning will comprise units that are PS146 compliant.

Management: affiliate status with the Australian Institute of Management (AIM)

Many of the postgraduate programs offered by the faculty satisfy the educational qualifications for affiliate status. Affiliates can advance to member within five years or less if they can meet AIM’s requirement of proven management achievement.

Marketing: associate membership of the Australian Marketing Institute (AMI)

Graduates who major in marketing will satisfy the educational requirements for admission as an associate member. Membership of AMI is graded into categories which reflect members’ practical experience, professional achievements and formal education. Associate members are encouraged to upgrade their status as their career progresses.

Risk management: membership of the Risk Management Institution of Australasia (RMIA)

Master of Risk Management graduates who have five years of recognised work experience in area of risk management will satisfy the educational requirements for admission as a Member of RMIA.

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