Commerce coursework programs - Professional accreditation program requirements
Professional accreditation in accounting
(i) CPA Australia or Chartered Accountants Australia and New Zealand (CAANZ)
Students seeking associate membership of CPA Australia or Chartered Accountants Australia and New Zealand (CAANZ) should complete the Master of Professional Accounting which is accredited by both CPA Australia and CAANZ. Depending on the area(s) of specialisation and elective units selected, however, students enrolled in the Master of Commerce can complete all the required units of study covering the core knowledge areas to meet the joint accreditation requirements for CPA Australia and/or CAANZ.
Selection of the following units of study is necessary to maximise the coverage of the foundation core knowledge areas that are required by the two main professional accounting bodies in Australia:
| Professional accounting core knowledge area | Required unit of study |
|---|---|
| Accounting information systems | ACCT6014 Designing Accounting Systems |
| Accounting systems and processes | ACCT5001 Accounting Principles |
| Accounting theory | ACCT6001 Intermediate Financial Reporting |
| Audit and assurance | ACCT6007 Contemporary Issues in Auditing * |
| Commercial law | CLAW5001 Legal Environment of Business |
| Corporations law | CLAW6002 Corporate Structures in Practice |
| Economics and ethics |
BUSS5001 Firms, Markets and Business Management |
| Finance | FINC5001 Capital Markets and Corporate Finance |
| Financial accounting | ACCT6010 Advanced Financial Reporting |
| Management accounting | ACCT5002 Managerial Accounting and Decision Making |
| Quantitative methods | QBUS5001 Quantitative Methods for Business |
| Taxation | CLAW6026 Taxation Law and Practice * |
* Note: CPA Australia allows graduates to cover audit and assurance and taxation core knowledge areas within the elective component of their professional level CPA Program, if required units have not been completed in their university degree.
Choice of units in the accounting specialisation may depend on whether CA accreditation for CAANZ or CPA accreditation for CPA Australia is preferred.
As accredited units are subject to review by the professional accounting bodies, students should check the CAANZ and CPA Australia websites for units accredited in the year they commenced their course. If required, the CPA/CAANZ Accreditation Liaison Officer in the Discipline of Accounting can provide further advice on professional accounting accreditation.
(ii) Association of Chartered Certified Accountants (ACCA)
Students who complete the Master of Commerce with a specialisation in Accounting are eligible to receive four exam exemptions from the Association of Chartered Certified Accountants (ACCA). Students who complete additional accredited units of study may be eligible for further exemptions. Further information on ACCA exam exemptions can be found on the ACCA website.
Preparation for Chartered Financial Analyst (CFA®) Exams
The learning content offered in the Finance specialisation has considerable overlap with Levels I, II and III of the CFA and assists with preparation for the external CFA exams. The following units of study are especially relevant to students wishing to take the CFA exams:
- FINC5001 Capital Markets and Corporate Finance
- FINC6001 Intermediate Corporate Finance
- FINC6009 Portfolio Theory and its Applications
- FINC6010 Derivative Securities
- FINC6014 Fixed Income Securities
- FINC6017 Mergers and Acquisitions
- FINC6021 Corporate Valuation
- FINC6022 Behavioural Finance
- FINC6023 Financial Risk Management
In addition, it is recommended that students complete the free online learning module, Ethics and Standards of Practice available through the CFA Institute.