2015 - Bachelor of Commerce (Accounting and Finance)

This course provides professional education for those wishing to become accounting and/or finance professionals. It has a strong emphasis on developing analytical skills and offers a solid grounding and professional competence in all aspects of commerce required for careers in the business or public sector.

The learning goals of the course are for students to:

• develop an understanding of the key issues facing the Australian and international economy, and the role of business and government in improving the welfare of our societies
• develop general analytical and technical skills in the faculty disciplines of economic analysis, quantitative and computer methods, accounting and finance, management, marketing, and business law
• develop specialised analytical and technical skills in accounting and/or finance to assist with problem solving in their future careers in business, the public sector and the professions
• develop effective oral, written and interpersonal communication skills
• develop a capacity for independent critical analysis and a desire for future learning through examination of the latest ideas and research from Australia and overseas.

The course structure has three main components:

• a set of core units which provide an introduction to the key areas of commerce
• a major in accounting and finance
• eight open electives which may be taken from any Faculty of Business and Economics programs and campuses, or from disciplines offered by another faculty. These open electives can, in some cases, form a second major.

The degree requires completion of 24 units (144 points) over a maximum of eight years as follows:

(a.) 16 units (96 points) from the faculty in the Bachelor of Commerce at the Clayton campus as follows:

(i.) six compulsory common core units (36 points):

• AFC1000 Principles of accounting and finance
• BTC1110 Business law
• ECC1000 Principles of microeconomics
• ETC1000 Business and economic statistics
• MGC1010 Introduction to management
• MKC1200 Principles of marketing

(ii.) a major of 10 units (60 points) in accounting or finance:*

• the major must come from the approved list of majors below
• at least two units (12 points) must be completed at second-year level and three units (18 points) at third-year level

* The unit AFC1000 is one of the units in this major and will have already been studied as part of the group of common core units - students will therefore complete an additional unit as detailed below.

(iii.) additional units from the faculty in the Bachelor of Commerce at the Clayton campus to reach the required minimum of 16 units

(b.) eight open electives (48 points):

• may be taken from disciplines offered by another faculty
• may be taken from any Faculty of Business and Economics programs and campuses**
• may be used to complete the requirements for membership of CPA Australia, The Institute of Chartered Accountants in Australia and Financial Services Institute of Australasia. Details of the units required for membership can be found at: http://www.monash.edu.au/pubs/handbooks/undergrad/bus-03.html.

** NOTE: Enrolment in units at another campus is subject to there being spare capacity after students from that campus have enrolled.

Additional degree requirements:

• a maximum of 10 first-year level units (60 points)
• a minimum of six third-year level units (36 points), of which at least four units (24 points) must be from those offered by the faculty at the Clayton campus
• in addition to specific unit prerequisites, second-year-level units require the successful completion of three first-year-level units and third-year-level units require the successful completion of two second-year-level units.

Units required for the accounting major

(a.) The following five units:

• AFC1000 Principles of accounting and finance
• AFC1030 Introduction to financial accounting
• AFC2120 Financial accounting
• AFC2131 Cost information for decision making
• AFC3120 Advanced financial accounting

(b.) five units from the following list:

• AFC2851 Accounting information systems and financial modelling
• AFC3131 Performance measurement and control
• AFC3141 Strategic management accounting
• AFC3160 Auditing and assurance
• AFC3220 Comparative international financial reporting
• AFC3230 Financial analysis and valuation
• BTC2210 Australian company law
• BTC3150 Taxation law

Units required for the finance major

(a.) The following three units:

• AFC1000 Principles of accounting and finance
• AFC2140 Corporate finance
• AFC3140 Advanced corporate finance

(b.) two units from the following list:

• AFC2000 Financial institutions and markets
• AFC2240 Equities and investment analysis
• AFC2340 Debt markets and fixed income securities
• AFC3170 Management of financial intermediaries
• AFC3230 Financial analysis and valuation
• AFC3240 International finance, or AFX3871 International study program in banking and finance
• AFC3340 Options, financial futures and other derivatives
• AFC3440 Pension and financial planning
• AFC3540 Modelling in finance
• AFX3355 Property investment

(c.) five units from the following list or units from (b.) not previously completed:

• BTC3130 Stock exchange and derivatives law
• BTC3200 Finance law
• ECC3660 Monetary economics
• ETC2410/ETC3440 Introductory econometrics
• ETC2430 Actuaries statistics
• ETC3460 Financial econometrics

Discipline majors

Accounting and Finance

Students need to complete a minimum of ten units offered by the Department of Accounting and Finance, Clayton campus (AFC or Clayton-based AFX units).

This degree with relevant units is recognised by the following legal entities:

• Australian Securities and Investments Commission
• Financial Services Institute of Australasia
• CPA Australia
• The Institute of Chartered Accountants in Australia.

Professional recognition may be dependent upon work experience requirements and the correct choice of units.

Bachelor of Commerce (Accounting and Finance)