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Monash University

Professional recognition - Faculty of Business and Economics

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 that the units in which they enrol are those required for their profession of their choice. The following tables and notes provide details of the units required for selected professional registration or membership.

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

The following tables show the core units and two elective units accredited by CPA Australia. While CPA Australia does not require the elective units for admission as an associate member, students are advised to include the elective units in their course. 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 core and three elective segments.

Caulfield

Core units
  • AFF1110 Accounting for financial decision making
  • AFF1121 Accounting systems and procedures
  • AFF2391 Cost information for decision making
  • AFF2491 Company reporting
  • AFF2631 Financial management
  • AFF2851 Accounting information systems and financial modelling
  • AFF3431 Performance measurement and control
  • AFF3491 Advanced financial accounting theory and practice
  • BTF1010 Commercial law
  • BTF2220 Corporations law and trusts
  • ECF1100 Microeconomics
  • ECF1200 Macroeconomics
  • ETX1100 Business statistics
  • MGF1010 Introduction to management
Elective units

Clayton

Core units
Elective units

Berwick, Gippsland, Peninsula and Sunway

Core units
  • AFW1001 Introductory accounting A
  • AFW1002 Introductory accounting B
  • AFW2851 Accounting information systems and financial modelling
  • AFW2020 Cost information for decision making
  • AFW2491 Company reporting
  • AFW2631 Financial management
  • AFW3021 Performance measurement and control
  • AFW3040 Accounting theory
  • AFW3050 Financial accounting issues
  • BTW1200 Business law
  • BTW2220 Corporations law and trusts *
  • ECW1101 Introductory microeconomics
  • ECW1102 Introductory macroeconomics
  • ETW1102 Business statistics *
  • MGW1010 Managing people and organisations
Elective units

    * Students enrolled in the Bachelor of Business and Commerce at Sunway must substitute the units in the table above with the following units: BTW2213 (Malaysian company law), BTW3153 (Malaysian income tax law), ETW1000 (Business and economic statistics).
    ** Law students must substitute the units in the table above with the following units: LAW2101 (Contract A), LAW2102 (Contract B), LAW4171 (Corporations law 406), LAW5152 (Taxation law 506).

Accounting: entry to the Chartered Accountants Program of The Institute of Chartered Accountants in Australia

The following lists show the units accredited by the ICAA and which satisfy the educational requirements for admission to the Chartered Accountants Program. Full membership of the ICAA requires completion of mentored work experience and the Chartered Accountants Program, which comprises four technical modules and one final integrative module.

Caulfield

  • AFF1110 Accounting for financial decision making
  • AFF1121 Accounting systems and procedures
  • AFF2391 Cost information for decision making
  • AFF2491 Company reporting
  • AFF2631 Financial management
  • AFF3431 Performance measurement and control
  • AFF3491 Advanced financial accounting theory and practice
  • AFF3631 Auditing and assurance
  • BTF1010 Commercial law
  • BTF2220 Corporations law and trusts
  • BTF3931 Taxation law

Clayton

    *Law students must substitute the following set of units for those mentioned in the above table: LAW1101 Introduction to legal reasoning, LAW2101 Contract A, LAW2102 Contract B, LAW4171 Corporations law 406, LAW5152 Taxation law 506

Berwick, Gippsland, Peninsula and Sunway

Auditor: registration with Australian Securities and Investments Commission (ASIC)

Students who intend to satisfy the educational requirements for registration as an auditor with ASIC must complete a degree program that includes three years of accounting (including the unit AFC3160/AFF3631/AFW3041 'Auditing and assurance') and two years of commercial law (including the units BTF2220/BTW2220 'Corporations law and trusts' or BTC2210 `Australian company law'). In addition, applicants for registration as an auditor must also have a level of practical experience prescribed in the Corporations Regulations 2001 [regulation 9.2.01] and have completed a specialist auditing course such as those run by the ICAA or CPA Australia [regulation 9.2.03].

Financial Services Institute of Australasia (FINSIA)

Graduates of the Bachelor of Business (Banking and Finance) and a number of other bachelor degree programs offered by the faculty satisfy the educational requirements of this new professional institute.

Computing: provisional membership of the Australian Computer Society (ACS)

Faculty of Information Technology undergraduate degrees (Bachelor of Information Technology and Systems and Bachelor of Information Technology and Systems) are accredited by the ACS as meeting the standard of knowledge for professional-level membership. Contact the Faculty of Information Technology for further information. Graduates of courses accredited at the professional level by ACS satisfy the educational requirements for admission as a provisional member; advancement to member requires four years of relevant IT experience.

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 who are contemplating a career in financial planning are advised to consult the eTraining Register at http://www.asic.gov.au or a course adviser prior to enrolment.

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

The degrees in accounting, business, commerce, economics and tourism offered by the faculty are approved 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 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.

Psychology: affiliate status with the Australian Psychological Society (APS)

The Bachelor of Psychology and Management/Marketing at Caulfield is an APS-accredited three-year sequence of study in psychology. Graduates will satisfy the educational requirements for admission as an affiliate.

Public relations: provisional associate status with the Public Relations Institute of Australia (PRIA)

The Bachelor of Business and Commerce at Berwick with a major in public relations is accredited by PRIA. Graduates will be admitted as provisional associates and will satisfy the educational requirements for advancement to professional grades of associate or member when they have completed at least two years in practice or pass the PRIA's national accreditation examination.

Taxation: registration with Tax Agents' Board

Students seeking registration by as a tax agent are advised to refer to guidelines published by the Tax Agents’ Board. It is important to note that the guidelines for consistent assessment of the acceptability of courses of study in accountancy, commercial law and income tax law are revised from time to time. The guidelines can be found by selecting the 'Tax agent registration' link on the board’s home page at http://www.tabd.gov.au.