Master of Professional Accounting

The Master of Professional Accounting provides a pathway to a career in professional accounting for students who have completed sufficient business/commerce breadth subjects during their undergraduate degree. The course builds students’ technical skills and professional competencies in accounting issues and practice that impact and drive internal and external decision making. The Master of Professional Accounting is certified by CPA Australia and the Institute of Chartered Accountants in Australia. After completion of the Master of Professional Accounting program, graduates are eligible to apply for Associate Membership and are then required to complete a further three years of practical experience combined with further study of between 5 or 6 units of study (with the Institute of Chartered Accountants in Australia or the CPA Australia respectively) to fulfill membership requirements.

Learning Goal

Graduates of this degree will be:

Knowledgeable and skilled in those areas necessary for entry into the accounting profession and to satisfy the educational requirements of the Institute of Chartered Accountants of Australia (ICAA) and the Certified Practicing Accountants (CPA).

Learning objectives to achieve these goals

On successful completion of this degree students will be able to:

• Demonstrate competencies, professional skills and knowledge in relation to contemporary accounting issues and practices including financial reporting, local and international accounting methods and basic concepts associated with information for managers within a firm;
• Identify and demonstrate professional skills in knowledge bases and techniques in the related disciplines of economics, management, finance, auditing and business information systems;
• Critically analyse and think strategically in relation to accounting and business analysis issues and problems including the role of management accounting information in strategic performance management;
• Apply appropriate professional and analytical skills to address specific accounting and business issues including financial mathematics, finance concepts and asset pricing necessary for effective decision making;
• Identify and critically evaluate professional accounting and business issues emerging from strategic developments in practice and accounting regulation;
• Explain the role of cost information in organisations and key financial business processes underpinning organisational activities;
• Analyse contemporary accounting issues within the framework of agency theory, capital markets theory, human judgement theory and the economic perspective of the taxpayer to various forms of taxation; and
• Analyse the impact of aspects of the law on accounting practice including the ethical, legal and professional environments in which audit and assurance provider operate and the framework within which regulatory aspects of corporate reporting are conducted.

The Master of Professional Accounting program consists of twelve semester-length subjects comprising five core subjects and seven accounting subjects.

Core subjects

Seven accounting subjects

1. The Selection Committee will evaluate the applicant’s ability to pursue the course successfully using the following criteria:

Either:

• An undergraduate degree in business or commerce, or equivalent; or
• A University of Melbourne New Generation undergraduate degree other than the Bachelor of Commerce containing sufficient business or commerce breadth subjects to meet any prerequisites;

AND:

• At least one year of documented relevant work or professional experience;
• The applicant’s submitted statement of intent in seeking entry; and
• Performance on the GMAT or GRE unless the applicant has met one of the approved conditions for GMAT or GRE exemption.

2. The Selection Committee may conduct interviews and tests and call for referee reports and employer references to elucidate any of the matters referred to above.

Note:

Students who successfully complete the Graduate Diploma in Professional Accounting may be eligible to progress to the Master of Professional Accounting with 100 points credit.

The Faculty of Business and Economics welcomes applications from students with disabilities. It is University and Faculty policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student’s participation in the Faculty’s programs.

The BCom and Masters degrees of the Faculty of Business and Economics equip graduates with the knowledge and technical skills necessary to understand and participate in the modern business world. The degrees include the following academic requirements for study:

(1) The ability to explain and evaluate concepts, theories, institutional arrangements and operations of modern mixed economies;
(2) The ability to critically evaluate the economy, commerce and business in the broader social and political context;
(3) The ability to explain and apply concepts across a range of commerce and business disciplines in solving business and policy problems; and
(4) The ability to contribute positively to the development of organisations and society in relation to business, government and the commercial professions.

All students of the Faculty’s courses must possess intellectual, ethical, and emotional capabilities required to participate in the full curriculum and to achieve the levels of competence required by the Faculty. Candidates for the BCom degree and for FBE Masters degrees must have abilities and skills in communication; in conceptual, integrative, and quantitative dimensions; and in behavioural and social dimensions.

I. Communication: The student must be able to communicate effectively and efficiently in oral and/or written form. A student must have the ability to clearly and independently communicate knowledge and application of a discipline, principles or practices during assessment tasks, and in some discipline streams.

II. Intellectual‐Conceptual, Integrative and Quantitative Abilities: The student is expected to have the ability to develop problem‐solving skills and demonstrate the ability to establish study plans and priorities. These abilities include measurement, calculation, reasoning, analysis, and synthesis. Problem solving requires all of these intellectual abilities. Students should also have the ability to comprehend complex disciplinary and cross disciplinary information related to the BCom and Masters degrees.

III. Behavioural and Social Attributes: A student must possess behavioural and social attributes that enable them to participate in a complex learning environment and the emotional health required for full utilisation of his/her intellectual abilities. Students are required to take responsibility for their own participation and learning. They also contribute to the learning of other students in collaborative learning environments, demonstrating interpersonal skills and an understanding of the needs of other students. Assessment may include the outcomes of tasks completed in collaboration with other students. Integrity, concern for others, interpersonal skills, interest, and motivation are all personal qualities that are deemed necessary for students enrolled in FBE courses.

Students who feel their disability will prevent them from participating in tasks involving the inherent academic requirements of the BCom and FBE Masters courses are encouraged to contact the Disability Liaison Unit. Adjustments can be provided to minimise the impact of a disability, but students should participate in the course in an independent manner.

On successful completion of this degree students will be:

• Competent in a range of professional skills and knowledge in areas necessary for entry into the accounting profession;
• Strategic thinkers in financial and management accounting within an organisation;
• An efficient in financial decision maker within an organisation;
• Effective written and oral communicators as evidenced through financial report writing, risk assessment exercises and class presentations;
• Ethical in their approach to work practices through course work related to corporate governance and auditing;
• Adept at problem solving though financial decision making and in relation to accounting issues and processes;
• Efficient in their access and retrieval skills in relation to financial information from a range of sources; and
• Collaborative in their approach to decision making and problem solving.

On successful completion of this degree students should have enhanced their skills in:

• Strategic thinking skills in accounting in relation to costs and performance for organisations;
• Decision making skills in relation to financial and accounting decisions within an organisation;
• Communication skills through financial report writing, risk assessment exercises and class presentations;
• Ethical approaches to work practices through course work related to corporate governance and auditing;
• Problem solving skills though financial decision making and in relation to accounting issues and processes;
• Access and retrieval skills in relation to accounting and finance information from a range of sources; and
• Collaboration and team work skills though class exercises.

Duration

Full-time students will take four subjects per semester for three semesters (approximately 18 months). Part-time students will usually enrol for six semesters taking two subjects per semester.

Assessment

Students must pass all twelve subjects to qualify for the Master of Professional Accounting program.

Professional Accreditation

Successful completion of the Master of Professional Accounting provides students with training in all key areas of accounting and prepares them to apply for entry to the Institute of Chartered Accountants of Australia (ICAA) or Certified Practising Accountant (CPA) professional studies program.

Graduate Diploma in Professional Accounting

Students enrolled in the Master of Professional Accounting who are either unable, or who choose not to continue with their studies, may be eligible to exit with a Graduate Diploma in Professional Accounting if they have successfully completed any eight subjects.