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Professional accounting accreditation

  1. 2018 commencing undergraduate students: Bachelor of Commerce and Bachelor of Commerce and Bachelor of Advanced Studies
  2. 2018 commencing undergraduate students: Bachelor of Commerce and Bachelor of Laws
  3. Pre-2018 continuing undergraduate students: Bachelor of Commerce (including all combined degrees except combined Law) and Bachelor of Commerce (Liberal Studies)
  4. Pre-2018 continuing undergraduate students: Bachelor of Commerce and Bachelor of Laws
  5. Master of Commerce
  6. Master of Professional Accounting

1. 2018 commencing undergraduate students: Bachelor of Commerce and Bachelor of Commerce and Bachelor of Advanced 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. Subject to a reaccreditation review due in Semester 1 2018, the Bachelor of Commerce, or the Bachelor of Commerce and Bachelor of Advanced Studies can provide a recognised pathway to a career in professional accounting, and associate membership in CPA Australia or Chartered Accountants Australia and New Zealand (CAANZ) through accreditation of these degrees.

Students enrolled in the Bachelor of Commerce and Bachelor of Commerce and Bachelor of Advanced Studies need to complete the Professional Accounting program to complete all the required accredited units of study covering the foundational competency areas to meet the joint accreditation requirements for CPA Australia and/or CAANZ. 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 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

ACCT3600 Accounting and Auditing in Practice

Business law

CLAW2214 Business Law for Accountants

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

INFS3110 Accounting Information Systems

Management accounting

ACCT2012 Management Accounting A

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.

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 or Bachelor of Commerce and Bachelor of Advanced Studies (with the Professional Accounting program) may be eligible to receive four exam exemptions from the Association of Chartered Certified Accountants (ACCA) as follows:

  • F1 Accounting in Business
  • F2 Management Accounting
  • F3 Financial Accounting
  • F4 Corporate and Business Law

In addition, students who complete certain accredited units of study are also eligible for up to five additional ACCA exam exemptions as follows:

Exam exemption

Units required to be completed

F5 Performance Management

ACCT2012 Management Accounting A AND
ACCT3012 Management Accounting B

F6 Taxation

CLAW3201 Australian Taxation System

F7 Financial Reporting

ACCT2011 Financial Accounting A AND
ACCT3011 Financial Accounting B

F8 Audit and Assurance

ACCT3600 Accounting and Auditing in Practice

F9 Financial Management

FINC2011 Corporate Finance I

Further information on ACCA exam exemptions can be found on the ACCA exemptions calculator.


2. 2018 commencing undergraduate students: 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. Subject to a reaccreditation review due in Semester 1 2018, the Bachelor of Commerce and Bachelor of Laws can provide a recognised pathway to a career in professional accounting, and associate membership in CPA Australia or Chartered Accountants Australia and New Zealand (CAANZ) through accreditation of these degrees. 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:

Key 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

ACCT3600 Accounting and Auditing in Practice

Business law

LAWS1006 Foundations of Law AND
LAWS1015 Contracts AND
LAWS2014 Corporations Law

Economics

BUSS1040 Economics for Business Decision Making OR

Finance and financial management

FINC2011 Corporate Finance I

Financial accounting and reporting

ACCT2011 Financial Accounting A AND
ACCT3011 Financial Accounting B

Information Technology

INFS3110 Accounting Information Systems

Management accounting

ACCT2012 Management Accounting A

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 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 and Bachelor of Laws may be eligible to receive four exam exemptions from the Association of Chartered Certified Accountants (ACCA) as follows:

  • F1 Accounting in Business
  • F2 Management Accounting
  • F3 Financial Accounting
  • F4 Corporate and Business Law

In addition, students who complete additional accredited units of study may be eligible for up to five further exemptions:

Exam exemption

Units required to be completed

F5 Performance Management

ACCT2012 Management Accounting A AND
ACCT3012 Management Accounting B

F6 Taxation

LAWS3412 Australian Income Tax AND
LAWS3409 Advanced Taxation Law

F7 Financial Reporting

ACCT2011 Financial Accounting A AND
ACCT3011 Financial Accounting B

F8 Audit and Assurance

ACCT3600 Accounting and Auditing in Practice

F9 Financial Management

FINC2011 Corporate Finance I

Further information on ACCA exam exemptions can be found on the ACCA exemptions calculator.


3. Pre-2018 continuing undergraduate students: 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, Bachelor of Commerce (Liberal Studies), or the Bachelor of Economics can provide a recognised pathway to a career in professional accounting, and associate membership in CPA Australia or Chartered Accountants Australia and New Zealand (CAANZ) through accreditation of these degrees. 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
ACCT3600 Accounting and Auditing in Practice

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) OR INFS3110 Accounting Information Systems ^

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.

^ INFS2001 will be offered in intensive February and Semester 1 in 2018. Continuing students are encouraged to complete this unit in one of these sessions. INFS3110 will be offered from Semester 2, 2018.

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, the Bachelor of Commerce (Liberal Studies) or the Bachelor of Economics (including combined with Advanced Studies) must complete the Accounting major 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 and certain CLAW electives) may be eligible to receive four exam exemptions from the Association of Chartered Certified Accountants (ACCA) as follows:

  • F1 Accounting in Business
  • F2 Management Accounting
  • F3 Financial Accounting
  • F4 Corporate and Business Law

In addition, students who complete additional accredited units of study may be eligible for up to five further exemptions:

Exam exemption

Units required to be completed

F5 Performance Management

ACCT2012 Management Accounting A AND
ACCT3012 Management Accounting B

F6 Taxation

CLAW3201 Australian Taxation system

F7 Financial Reporting

ACCT2011 Financial Accounting A AND
ACCT3011 Financial Accounting B

F8 Audit and Assurance

ACCT3600 Accounting and Auditing in Practice

F9 Financial Management

FINC2011 Corporate Finance I

Further information on ACCA exam exemptions can be found on the ACCA exemptions calculator.


4. Pre-2018 continuing students: 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 can provide a recognised pathway to a career in professional accounting, and associate membership in CPA Australia or Chartered Accountants Australia and New Zealand (CAANZ) through accreditation of these degrees. 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 OR ACCT3600 Accounting and Auditing in Practice

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 OR INFS3110 Accounting Information Systems ^

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.

^ INFS2001 will be offered in intensive February and Semester 1 in 2018. Continuing students are encouraged to complete this unit in one of these sessions. INFS3110 will be offered from Semester 2, 2018.

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 Laws (with a major in Accounting) may be eligible to receive four exam exemptions from the Association of Chartered Certified Accountants (ACCA) as follows:

  • F1 Accounting in Business
  • F2 Management Accounting
  • F3 Financial Accounting
  • F4 Corporate and Business Law

In addition, students who complete additional accredited units of study may be eligible for up to five further exemptions:

Exam exemption

Units required to be completed

F5 Performance Management

ACCT2012 Management Accounting A AND
ACCT3012 Management Accounting B

F6 Taxation

LAWS3412 Australian Income Tax AND
LAWS3409 Advanced Taxation Law

F7 Financial Reporting

ACCT2011 Financial Accounting A AND
ACCT3011 Financial Accounting B

F8 Audit and Assurance

ACCT3014 Auditing and Assurance OR
ACCT3600 Accounting and Auditing in Practice

F9 Financial Management

FINC2011 Corporate Finance I

Further information on ACCA exam exemptions can be found on the ACCA exemptions calculator.


5. 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 (as part of accounting major) OR
INFS500 Accounting Information 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 (depending on units completed) may be eligible to receive four exam exemptions from the Association of Chartered Certified Accountants (ACCA) as follows:

  • F1 Accounting in Business
  • F2 Management Accounting
  • F3 Financial Accounting
  • F4 Corporate and Business Law

In addition, students who complete additional accredited units of study may be eligible for up to five further exemptions as follows:

Course exemption

Units required to be completed

F5 Performance Management

ACCT5002 Managerial Accounting and Decision Making

F6 Taxation

CLAW6026 Taxation Law and Practice

F7 Financial Reporting

ACCT6001 International Financial Reporting AND
ACCT6010 Advanced Financial Reporting;<OR
ACCT6001 International Financial Reporting AND
ACCT6003 Fundamental Analysis for Equity Investment

F8 Audit and Assurance

ACCT6007 Contemporary Issues in Auditing

F9 Financial Management

FINC5001 Capital Markets and Corporate Finance

Further information on ACCA exam exemptions can be found on the ACCA exemptions calculator.


6. 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 as follows:

  • F1 Accounting in Business
  • F2 Management Accounting
  • F3 Financial Accounting
  • F4 Corporate and Business Law

In addition, students who complete certain accredited units of study may be eligible for up to five further specific exam exemptions as follows:

Course exemption

Units required to be completed

F5 Performance Management

ACCT5002 Managerial Accounting and Decision Making

F6 Taxation

CLAW6026 Taxation Law and Practice

F7 Financial Reporting

ACCT6001 International Financial Reporting AND
ACCT6010 Advanced Financial Reporting;

F8 Audit and Assurance

ACCT6007 Contemporary Issues in Auditing

F9 Financial Management

FINC5001 Capital Markets and Corporate Finance

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 calculator.