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, students enrolled in the Master of Commerce can complete all the required units of study covering the professional competency 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 competency areas that are required by the two main professional accounting bodies in Australia:
| Competency areas | Required unit of study |
|---|---|
| Accounting systems and processes | ACCT5001 Accounting Principles |
| Audit and assurance | ACCT6007 Contemporary Issues in Auditing * |
| Business law | CLAW5001 Legal Environment of Business AND CLAW6002 Corporate Structures in Practice |
| Economics |
BUSS5001 Firms, Markets and Business Management |
| Finance and financial management |
FINC5001 Capital Markets and Corporate Finance |
| Financial accounting and reporting |
ACCT6001 Intermediate Financial Reporting AND ACCT6010 Advanced Financial Reporting |
| Information technology | ACCT6014 Designing Accounting Systems |
| Management accounting | ACCT5002 Managerial Accounting and Decision Making |
| Quantitative methods | QBUS5001 Quantitative Methods for Business |
| Taxation | CLAW6026 Taxation Law and Practice * |
A further competency area is Ethics which is covered across the curriculum of the program.
* Note: CPA Australia had allowed exemptions from ‘Audit and assurance’ and ‘Taxation’ competency areas provided students completed Audit and/or Taxation as professional level units in their CPA Program. From semester 2, 2018, CPA Australia will only allow this exemption for graduates applying for associate membership for ‘Audit and assurance’. This means that from semester 2, 2018 students seeking associate membership of CPA Australia must have completed the accredited taxation unit in their degree. CAANZ continue to require graduates to have both ‘Taxation’ and ‘Audit and Assurance’ accredited units for their provisional membership.
Students enrolled in the Master of Commerce must complete the Accounting specialisation and must choose their electives in the program from the prescribed list of accredited units. These electives should include Taxation if students plan to graduate and apply for associate membership with CPA Australia by semester 2 2018 to avoid further study and exam with CPA Australia being required prior to admission.
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 Postgraduate Discipline Coordinator for Accounting can put you in touch with the CPA/CAANZ Accounting Accreditation Liaison Officer to 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 up to five further exemptions.
Further information on ACCA exam exemptions can be found on the ACCA exemptions enquiry database.
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.