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Professional accounting accreditation

  1. Bachelor of Commerce (including all combined degrees except combined Law) and Bachelor of Commerce (Liberal Studies)
  2. Bachelor of Commerce and Bachelor of Laws
  3. Master of Commerce
  4. Master of Professional Accounting

1. Bachelor of Commerce (including all combined degrees except combined Laws) and Bachelor of Commerce (Liberal Studies)

(i) CPA Australia and Chartered Accountants Australia and New Zealand (CAANZ)

Completion of an accredited degree is a recognised pathway to a career in professional accounting. The Bachelor of Commerce, Bachelor of Commerce combined degrees, and Bachelor of Commerce (Liberal Studies) have been accredited by CPA Australia and Chartered Accountants Australia and New Zealand (CAANZ). Depending on the area(s) of specialisation and elective units selected, students enrolled in these programs can complete all the required units of study covering the core 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:

Key Competency Area

Required accredited Unit of Study

Accounting systems and processes

BUSS1030 Accounting, Business and Society AND
ACCT1006 Accounting and Financial Management

Audit and assurance

ACCT3014 Auditing and Assurance

Business law

CLAW1001 Foundations of Business Law AND
CLAW2201 Corporations Law

Economics

BUSS1040 Economics for Business Decision Making OR
ECON1001 Introductory Microeconomics and ECON1002 Introductory Macroeconomics *

Finance and financial management

FINC2011 Corporate Finance I

Financial accounting and reporting

ACCT2011 Financial Accounting A AND
ACCT3011 Financial Accounting B

Information Technology

INFS2001 IS for Performance Improvement (students must also complete the prerequisite unit INFS1000 Digital Business Innovation)

Management accounting

ACCT2012 Management Accounting A AND
ACCT3012 Management Accounting B

Quantitative methods

BUSS1020 Quantitative Business Analysis OR
ECMT1010 Introduction to Economic Statistics *

Taxation

CLAW3201 Australian Taxation System

A further competency area is Ethics which is covered across the curriculum of the program.

* These units apply to students enrolled in the Bachelor of Economics degree. Commerce students complete the specified BUSS coded units.

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 Bachelor of Commerce, Bachelor of Commerce and  combined programs, and the Bachelor of Commerce (Liberal Studies) 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 Undergraduate Discipline Coordinator for Accounting can put you in touch with the CAANZ/CPA Accounting Accreditation Liaison Officer to provide further advice on professional accounting accreditation.

(ii) Association of Chartered Certified Accountants (ACCA)

Students who complete the Bachelor of Commerce (with a major in Accounting) may be eligible to receive four exam exemptions from the Association of Chartered Certified Accountants (ACCA). In addition, students who complete certain accredited units of study are also eligible for up to five additional ACCA exam exemptions. Further information on ACCA exam exemptions can be found on the ACCA exemptions enquiry database.


2. Bachelor of Commerce and Bachelor of Laws

 (i) CPA Australia and Chartered Accountants Australia and New Zealand (CAANZ)

Completion of an accredited degree is a recognised pathway to a career in professional accounting. The Bachelor of Commerce and Bachelor of Laws has been accredited by CPA Australia and Chartered Accountants Australia and New Zealand. Depending on the area(s) of specialisation and elective units selected, students enrolled in the Bachelor of Commerce and Bachelor of Laws can complete all the required units of study covering the core competency areas to meet or maximise 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 accredited unit/s of study

Accounting systems and processes

BUSS1030 Accounting, Business and Society AND
ACCT1006 Accounting and Financial Management

Audit and assurance

ACCT3014 Auditing and Assurance

Business law

LAWS1006 Foundations of Law AND
LAWS1015 Contracts AND
LAWS2014 Corporations Law

Economics

BUSS1040 Economics for Business Decision Making

Finance and financial management

FINC2011 Corporate Finance I

Financial accounting and reporting

ACCT2011 Financial Accounting A AND
ACCT3011 Financial Accounting B

Information technology

INFS2001 IS for Performance Improvement (students must also complete the prerequisite unit INFS1000 Digital Business Innovation

Management accounting

ACCT2012 Management Accounting A AND
ACCT3012 Management Accounting B

Quantitative methods

BUSS1020 Quantitative Business Analysis

Taxation

LAWS3412 Australian Income Tax AND
LAWS3409 Advanced Taxation Law

A further competency area is Ethics which is covered across the curriculum of the program.

CPA Australia had allowed exemptions from ‘Audit and assurance’ and ‘Taxation’ competency areas provided they did 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’. CAANZ continue to require graduates to have both ‘Taxation’ and ‘Audit and Assurance’ accredited units for their provisional membership.

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 Undergraduate Discipline Coordinator for Accounting can put you in touch with the CPA/CAANZ Accounting Liaison Officer to provide further advice on professional accounting accreditation.

(ii) Association of Chartered Certified Accountants (ACCA)

Students who complete the Bachelor of Commerce and Bachelor of LWS may be eligible to receive four exam exemptions from the Association of Chartered Certified Accountants (ACCA). In addition, 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.


3. Master of Commerce

(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

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


4. Master of Professional Accounting

(i) CPA Australia and Chartered Accountants Australia and New Zealand (CAANZ)

Completion of the core units for the Master of Professional Accounting satisfies the requirements of both Chartered Accountants Australia and New Zealand (CAANZ) and CPA Australia for accreditation under the direct program pathway. The foundation competency areas that are required by the two main professional accounting bodies in Australia are as follows:

Competency Area

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

INFS5000 Accounting Information Systems

Management accounting

ACCT5002 Management Accounting and Decision Making

Quantitative methods

QBUS5002 Quantitative Methods for Accounting

Taxation

CLAW6026 Taxation Law and Practice

A further competency area is Ethics which is covered across the curriculum of the program.

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 Liaison Officer to provide further advice on professional accounting accreditation.

(ii) Association of Chartered Certified Accountants (ACCA)

The ACCA will allow four foundation unit exam exemptions for students who have completed the Master of Professional Accounting. In addition, students who complete certain accredited units of study may be eligible for up to five further specific exam exemptions. As of 2017, the ACCA Accelerate Program provides the opportunity for high achieving students from the University of Sydney Business School Master of Professional Accounting program to commence the professional level papers as early as the end of the first year of postgraduate studies with the exam fees waived providing they take their first exam within 12 months of graduating. Further information on the ACCA exam exemptions can be found on the ACCA website under ACCA exemptions enquirydatabase.