Bachelor of Commerce - a Program Offered in Macquarie University - Example

Research Report Name (Submitted By) Course: Lecturer: Date: Table of Contents Table of Contents 2 Executive Summary 4 1.0 Introduction 5 2.0 About Macquarie University 5 2.1 short history of Macquarie University 5 2.2 Facilities Available 6 2.2.1 Medical and health 6 2.2.2 Shopping 6 2.2.3 Accommodation 6 2.2.4 Food 7 2.2.5 Sporting 7 3.0 Bachelor of Commerce (Accounting major) 7 3.1 Basic information about the degree program 7 3.2 Foundation Units 9 4.0 Subjects necessary to complete degree 9 4.1 Core Units 9 4.1.1 What is a core unit? 9 4.1.2 Semester one year one 10 4.1.2 Semester two year one 10 4.1.3 Semester One Year Two 11 4.1.4 Semester two year two 12 4.1.5 Semester one year three 12 4.1.6 Semester two year three 13 4.2 Elective Units 13 4.2.1 What are elective units? 13 4.2.2 What elective units are available for this degree? 13 5.0 Future Employment and Further Studies 15 5.1 Employment opportunities available for graduates 15 5.2 Expected salaries for graduate and beyond 16 5.3 Post graduate study options 16 6.0 Conclusion 17 7.0 References 19 Executive Summary The purpose of this paper is to provide a report on Bachelor of Commerce (Accounting major) as a program offered in Macquarie University. This paper provides this report through an overview of the institution, which includes the medical, accommodation, food and sporting services and activities available in the school. The paper also provides an in-depth study of the Bachelors of Commerce (Accounting major) by providing information concerning the pre-requisites of the course which include the core and elective units that every individual must complete to achieve an award at the end of the study. The employment opportunities available for individuals who successfully participate and complete this course also forms an essential part of this report as it provides some areas in which they can apply already learned skills. The salaries that these individuals earn also form an essential part in this report. In addition, the report also focuses on postgraduate opportunities that Macquarie University offers to individuals who are interested in accessing further studies in accounting as a way of improving on their knowledge and their level of expertise Research Report 1.0 Introduction Macquarie University is one of the leading public universities in Australia. This is largely because the university engages in research activities that seek to advance knowledge in different academic disciplines. There numerous degree programs that the university offers as part of its endeavours to promote the acquisition of knowledge and skills among Australian citizens and internationals students. The main objective of this report is to provide an in-depth understanding and a guide to Bachelor of Commerce (Accounting major). This will act as a guideline to those who would want to pursue this degree program in Macquarie University. The report will focus on the overall information about Macquarie University, the prerequisite requirements for joining the university and pursue a give course. In addition, the report will also provide information about the degree program; its major and the requirements for anyone to success fully pursue the degree program. The report will also focus on the available job opportunities after successful completion of the degree program. 2.0 About Macquarie University 2.1 short history of Macquarie University The New South Wales Government established Macquarie University in 1964. It was the third university that was established in the metropolitan area of Sydney, Australia. The university has a population of about 36,000 students. This is inclusive of about 12, 000 international students and 24, 000 domestic students. This is one of the institutions in Australia with a relatively high population of international students in Australia. The university also aims at becoming one of the leading research institutions in the world by contributing to the existing body of knowledge with new ideas, practices and insights. The university has a determination of ensuring that that it graduates individuals empowered to do great things by implementing the skills that they have acquired on the global platform. 2.2 Facilities Available 2.2.1 Medical and health The university provides free and accessible wellbeing facilities for the students and staff. These services include counselling services and services to those with disabilities. In terms of the medical facilities, the university has a hospital, which provides a full bulk-billing GP services that is available to the students, staff and the public. The university also provides medical help through emergency medical services after working hours. 2.2.2 Shopping The university has numerous shopping outlets designed to provide students with variety of goods and services to satisfy their needs. These include MacShop, which provides students with stationery, magazines and postal services the University also offers travelling services to students and staff at friendly prices. These services are offered through STA Travel and Student Flights. The university also has a banking facility that helps students in saving and using their financial resources. 2.2.3 Accommodation Macquarie University has plenty of options in terms of the housing needs and preferences for all interested students. These services are available through the university website and it includes apartments and university villages that are available according to the financial capability of the student. 2.2.4 Food The university is home to different food and beverage outlets such as the Globe Café, the Library café and the Wally’s Coffee Cart. These food outlets provide students and staff with different food products and drinks according to the interests of the students and their financial capabilities. 2.2.5 Sporting For individuals who are seeking an institution where they can keep active and maintain their physical wellbeing, Macquarie provided play sports at a competitive level through an array of sporting options for students and other members of the community. These activities include football, table tennis, martial arts and swim-safe warrior programs among others. 3.0 Bachelor of Commerce (Accounting major) 3.1 Basic information about the degree program Bachelor of commerce is one of the degree programs offered at Macquarie University. Bachelor of Commerce falls under the faculty of Business and Economics. The degree program awarded is Bachelor of Commerce (BCom). One can enrol for this degree program as either a part time or a fulltime student. For full time students it takes three years to complete the degree. For a student who is qualifies to take a degree program in this faculty, it is important to note that this program is not offered online or by correspondence. Instead, the student is expected to be physically present in school and attend all the lectures while completing all the requirements of the course. This is a requirement for all students irrespective of whether they are registered for the course as either part time or full time students General requirements for an individual to graduate with a degree in Bachelor of Commerce include Requirement Credit Minimum number of credit points for the degree 69 Minimum number of credit points at 200 level and above 39 Minimum number of credit points at level 300 and above 18 Minimum number of credit points designated as commerce 42 Completion of specified foundation units 42 Completion of a qualifying major for the bachelor of Commerce Completion of a designate People Unit Completion of a designate Planet Unit A credit point is the unit measure of the workload for an individual unit. As a measure of a student’s level of performance in a given unit, a credit point provides uniform criteria through which the administration can ensure equitable access for students to the courses and units across the university. It is important to note that the People’s Unit, which a student must complete to qualify for a degree award, is one taken outside the department administering the program or that, which offers the major, which the student is admitted to. The Planet Unit is taken outside the Faculty that administers the program of study or the degree major in which the student is enrolled. 3.2 Foundation Units These comprise those units that individuals pursuing this course must first be enrolled in before they can qualify for any major in the program. They include. At the end of these units the students can attain a maximum of 15 credit points. 100 level Code Unit name Credit points Required ACST 101 Techniques and elements of Finance (3) 3 Required BBA 102 Principles of Management (3) 3 Required ECON111 Microeconomic Principles (3) 3 Required MKTG 101 Marketing Fundamentals 3 Required Either: ACCG101 Accounting IA (3) 3 Or: ACCG106 Accounting Information for Decision-Making (3) 4.0 Subjects necessary to complete degree 4.1 Core Units 4.1.1 What is a core unit? This is an obligatory unit which any student has the responsibility of pursuing to be able to qualify for a given degree award or any other qualification. When a student registers for Bachelors in Commerce and decides to major in Accounting there are certain units that he or she must pursue to qualify as for the major (Harlow 2005, pp. 12-14). In addition, upon qualification there are require units that every student must pursue to as part of the course. They are considered core because they contain knowledge and skills that are considered fundamental in the practice of the chosen major or course. Core units also set the foundation upon which the understanding of other units within the course or major is built (Ketz 2006, p. 200). 4.1.2 Semester one year one Accounting 1A –ACCG100 This is the first unit offered in accounting major as it provides the definition of fundamental concepts that are related to financial accounting. It is a critical unit and it requires that a student to focus not only in the process of preparing the information, but also in the understanding of how the available information is essential in making business decisions. At the beginning of the unit students, learn more about the decision-making environment and at the end of the unit students have the knowledge and skills on how to record business transactions, do a complete worksheet and prepare a statement of financial performance. In addition, the students also know how to prepare a statement for financial position. Different aspects about effective professionalism and ethical practice in the line of accounting also form an essential part of the curriculum as it is used in developing their capabilities. This is considered as an important segment in their future lives as professional accountants. The credit points for this unit are 3. The prerequisites of this unit include an admission to BCom, an equivalent admission rank or aggregate, or a GPA of 2.0 4.1.2 Semester two year one Accounting IB- ACCG101 The main objective of this unit is to build upon the defining principles and concepts of financial accounting that were established in ACCG100. Some of the topics handled in this unit include an examination of the regulatory framework of financial accounting. This includes the definition, recognition and measurement of assets, income, expenses and liabilities. The unit also introduces students to how investor decision making is handled. This includes the financial statement analysis. The unit also introduces students to different aspects regarding the management accounting, which is inclusive of cost-volume-profit analysis, concepts relating to the science of budgeting and job costing. Through these topics, the unit ensures that it develops every student’s oral and written communication skills including the analytical and thinking skills. The credit points for this unit are 3. It is a requirement that for one top register for this unit he or she must have completed ACCG100 or ACCG105. 4.1.3 Semester One Year Two Fundamentals of Management Accounting- ACCG200 This is a considered as the first among the three undergraduate units in cost and management accounting. It focuses on how organizations can generate and use information of cost in the decision making process. This unit has three major parts, which include; the use of cost for decision-making, the techniques of costing and setting the budgeting including the evaluation of performance against the budget. By the end of this unit, it is expected that students should possess the knowledge and skills of various costing skills, provide solutions to problems by identifying and implementing the appropriate courses of action. The graduate capabilities that are developed in this unit include the understanding of budgeting and the underlying issues involved. This also includes analytical and thinking skills, problem solving techniques and improved ethical standards. The credit points for this unit are 3. Students who enrol for this unit are expected to have completed ACCG101. 4.1.4 Semester two year two Intermediate Financial Accounting- ACCG224 It provides students with an understanding of the principles and concepts that are related to financial accounting. This unit builds on the principles and concepts learnt in ACCG 101 and ACCG100. The topics in this unit include the conceptual foundation of accounting financial statement and measuring of assets and liabilities. While addressing these topics this unit considers the justifications involved in regulating accounting practice, the reviews on the regulations and the change that have been made overtime. Through this unit, the students are exposed to the current state of financial reporting practices. It is expected that by the end of this unit students are able to demonstrate competency in the application of financial reporting and how this practice continues to evolve in the professional field. The unit also develops high levels of effective communication among students including his analytical and thinking skills. The credit points for this unit are 3 4.1.5 Semester one year three Accounting in Context- ACCG399 This unit provides students with an opportunity of integrating and advancing their knowledge on accounting with a broad focus on the societal and corporate business. This unit combines financial and management accounting with auditing and information systems. It therefore enables students to engage in critical evaluation of accounting information and standards by understanding different theoretical and philosophical perspectives on accounting. It also provides numerous assessment tasks to help students in developing and reflecting on the skills and capabilities already achieved. The credit points for this unit are 3 4.1.6 Semester two year three Accountants in the profession- ACCG315 This unit largely focuses on the knowledge, the academic and research skills of an undergraduate student in the areas of accounting and corporate governance. This will enable the student to develop the ability to an independent enthusiastic and well-founded research project. This will be under the guidance of basic research skill and the methodologies of undertaking research project. For a student to register for this unit he or she must have completed ACCG224. The credit points for this unit are 3. 4.2 Elective Units 4.2.1 What are elective units? These free choice units, which are available for students to select in a given course. Each degree in the university ids structured differently and the university has the responsibility of ensuring that students acquire all the necessary knowledge in their field of study including other fields, which are also considered necessary for their success as professionals (Rachel et al 2014, pp. 64-65). Elective units are those that are not necessarily required but must be done following the choice of the student (Wilson 2014, p. 100). 4.2.2 What elective units are available for this degree? While at the second year, students majoring in Accounting are expected to choose one elective unit out of the available three. These include a. Accounting Systems Design and Development- ACCG250 is a unit, which aims at introducing students to accounting matters that are related to business use of information systems. Other than providing knowledge and skills on the basic uses of computers, it emphasizes on the critical role that information systems plays in supporting accounting and the need for a crucial connection between the functions of accounting and those of information systems. b. Applied Financial Analysis and management- AFIN252, which is a unit that introduces students to advanced studies on the fundamental principles of finance. These studies largely focus of asset pricing, portfolio management, and corporate finance. Upon completion of this unit, students possess an understanding of investment valuation and capital budgeting among other skills. c. Financial Management- AFIN253 is a unit that focuses on decision making in financial management and investments. It largely associated with the issues facing corporates in Australia and other parts of the world. The credit points for the elective unit that the student selects are 3. At the third year of pursuing this major, students are expected to choose two elective units out of the six that are available to earn 6 credit points. These include a. Organizational Planning and Control- ACCG301 is a unit, which focuses on strategies, management and performance measurement systems among others. b. Corporate Accounting and reporting- ACCG308, which focuses on the techniques of consolidating accounting statements c. Strategic management Accounting- ACCG330, which focuses on critical analysis of the issues related to the integration of control systems and management accounting. d. Auditing and Assurance Services- ACCG340, is a unit, which focuses on financial statement audits that are conducted in accordance with the provisions of the Corporations Act 2001. e. Financial Statement Analysis- ACCG350, which equips students with the skills necessary in conducting financial analysis and valuation of listed companies, f. Information Systems For Management- ACCG335, which increases a student’s ability recognize, describe, analyse, design and develop information systems from the perspective of a professional. 5.0 Future Employment and Further Studies 5.1 Employment opportunities available for graduates There are numerous employment opportunities for those with a Bachelor of Commerce, Accounting Degree. Some of the job opportunities include a job as an accountant, financial analyst, financial controller, chattered accountant and staff accountant among other opportunities (Altbach 2014, pp. 100-101). It is important to note that at a competitive level, an individual applying for these opportunities may need additional knowledge and skills to ensure that they acquire the necessary competitive advantage over other competitors (Altbach 2014, pp. 105). Bachelor of Commerce (Accounting) offers exciting employment opportunities though coupled with challenges that come with these opportunities. Other than the opportunities that exist in the local organizations and government institutions within Australia, an individual with such level of knowledge also has an opportunity to travel and work in other countries in Europe, Asia, America and even America (Carter 2007, pp. 156- 157). This is largely because the skills acquired in accounting are considered essential for the success of any institution that deals with huge or relatively large amounts of financial resources (Carter 2007, p. 157). Individuals who graduate with a degree in accountancy can also be hired as consultants in major institutions. This is largely because, financial advice for companies, especially in budgeting and valuation of companies, forms an essential component in ensuring that these organizations allocate finances according to the needs of the organization (Griff 2014, pp. 54-58). In addition, a consultant other than drawing handsome salaries from the services they provide, they also help organizations in capacity building especially in areas of financial analysis and the development of sound financial statements (Gulko 2010, pp. 36-37). 5.2 Expected salaries for graduate and beyond Students who graduate with a degree in Bachelor of Commerce (Accounting) attract a starting salary of about AU$40,000- AU$55,000 per year (Wilson 2014, p. 100). However as an individual increases his or her skills and level of expertise in other related areas such as Accountant management, Financial Analysis and Payroll Administration they are entitled to earn higher salaries (Wilson 2014, p. 102). 5.3 Post graduate study options Macquarie University also provides postgraduate degrees to individuals who are interested in furthering their studies in Accounting. Such postgraduate degree programs include Master of Accounting (CPA Extension), Master of Accounting (Professional) and master of Accounting (Professional) this is however accompanied with a degree of Master of Commerce. Postgraduate studies are ways through which different individuals enhance their skills and levels of expertise in the field of accounting. In addition, it provides such an individual with an opportunity of improving on their competitive advantage in the competitive market (Dunne 2014, pp. 54-58). 6.0 Conclusion Macquarie University is one of the leading institutions of higher learning found in Australia. The University is equipped with different facilities such as up-to date medical facilities, standardized accommodation facilities, enhanced and healthy food, and sufficient sports activities and facilities. The institutions provide numerous degree courses, which include Bachelors in Commerce (Accounting Major). This degree program takes three years to complete and the students registered for this program are expected to take up core units within the course and other elective courses, which are essential to qualify to be awarded a degree at the end of the course. Individuals who successfully complete the program have numerous employment opportunities within Australia and overseas with salaries not lower than AU$40, 000 annually. In addition, individual who are interested in improving on their skills and levels of expertise have opportunities of pursuing postgraduate degree programs that are offered by Macquarie University and other universities within Australia. 7.0 References Altbach, P, 2014, International Higher Education Volume 1: An Encyclopedia,Volume . Routledge, pp. 100- 106 Carter, F. (2007). Accounting careers: Adding interest to your future!. Ultimo, N.S.W: Career FAQs. Dunne, E., 2014, The Learning Society: International Perspetive on Core Skills in Higher Education. Routledge, pp. 54- 58. Griff, M. 2014, Professional Accounting Essays and Assignments. Business and Economics, pp. 200-201 Gulko, C. S. 2010, Accounting, business, and finance. New York, NY: Ferguson, pp. 36-37 Harlow, L. L. 2005. The Essence of Multivariate Thinking: Basic Themes and Methods. Mahwah: Lawrence Erlbaum Associates, pp. 12-15 Ketz, E, 2006, Theories of Acccounting Ethics and their Dissemination, Vplume 2. Taylor & Francis, pp. 200. Macquarie University, Sydney Australia. http://www.handbook.mq.edu.au/2014/Majors/UGMajor/Accounting Rachel, H., Oates, L & Sian, M., 2014, Flexible Learning in Action: Case Study in Higher Education., Routledge, pp. 64-66. Rubinstein, A.,2012. Economic fables. Cambridge: Open Book, pp. 23-27 Wilson, R. 2014, The Routledge Companion to Accounting Education, Routledge, pp. 100- 102. Read More