The MIT Bachelor of Business, major in Accounting, provides worldwide career portability due to the rigor and contemporary nature of the course which is valued internationally. This is particularly true now, as uniform accounting standards are being adopted globally.
The MIT Bachelor of Business is accredited by industry peak bodies such as: ICAA, CPA and IPA which provides graduates with an opportunity to apply their skills around the world.
The Bachelor of Business, major in Accounting, provides a detailed study of the accounting discipline which includes various theories and models of accounting, the roles and traditions of accounting, internal and external financial reporting, management and financial accounting, auditing, taxation, regulatory compliance, international accounting standards and an awareness of ethical issues.
- VTAC Code
- UAC Code
- CRICOS Code
- 067439D (VIC)
- 072668D (NSW)
Duration: 3 years [6 Trimesters]
Intake: March, July, November
The Bachelor of Business major in Accounting aims to provide graduates who will:
- Demonstrate a comprehensive knowledge of the accounting discipline and the global context
- Possess an up-to-date body of specialist accounting knowledge both theoretical and technical and understand and apply the principles of accounting accurately and correctly
- Understand the application of International Accounting Standards
- Understand the evolution of International Accounting Standards and have the ability to remain up-to-date with progressive changes to the standards
- Be able to evaluate the financial position of an organisation through the examination of financial accounts or financial statements and non-financial data
- Possess the technical knowledge, competency and skills required to become a member of the Australian accounting professional bodies , CPA Australia, CAANZ and IPA
- Achieve a professional credential that will be recognised and valued globally
- Be able to analyse and adapt knowledge to different contexts: organisational, industry and globally
- be ethically aware and possess appropriate professional skills for an career in accounting
- exhibit the MIT Graduate attributes
The Bachelor of Business major in Accounting course comprises: common core units, a major strem of accounting and elective units. In order to graduate from the degree students must complete 360 credit points overall. Each unit is worth 15 credit points except the capstone industry project elective units which constitute 30 credit points each.
Common Core Units (10 units)
The common core units are:
- BB101 Business Communications
- BN105 Information Technology for Users in Organisations
- BB102 Fundamentals of Marketing
- BB103 Management Principles
- BB104 Introductory Accounting
- BB106 Economic Principles
- BB107 Commercial Law
- BB108 Business Statistics
- BB209 Contemporary Management(Pre- requisite BB103 Management Principles)
- BB210 Introductory Management Accounting(Pre-requisite BB104 Introductory Accounting)
Major in Accounting Units (10 units)
- BA205 Accounting Systems and Applications
- BA214 Corporate Accounting
- BA230 Advanced Management Accounting(Pre-requisite BB210 Introductory Management Accounting)
- BA204 Financial Accounting
- BA217 Company Law
- BA302 Accounting Theory (Pre-requisite BA214 Corporate Accounting)
- BA317 Taxation Law (Pre-requisite BB107 Commercial Law)
- BA313 Auditing (Pre-requisite BA214 Corporate Accounting)
- BA301 Introduction to Finance(Pre-requisite BB108 Business Statistics)
- BB311 Applied Business Project
Electives (4 units)
Students have the choice of a wide range of electives and must undertake four elective units (60 credit points). The choice of elective units is, subject to pre-requisite knowledge requirements and the timetable, is available from all business and information technology units including the industry based project cap-stone units which are worth 30 credit points.
What is Accounting?
Accounting is the “language of business”; a system that collects, measures, and communicates all relevant financial information that an entity or a business requires for managing, reporting, resource allocation, and decision making purposes. Accounting is how business records, verifies, and reports values of assets, liabilities, income and expenses.
What do Accountants do?
Being an Accountant is much more than just crunching numbers. Accountants are strategic business advisers and valued member of management teams, and increasingly progress to senior management or board positions. Besides recording business transactions, bookkeeping and preparing financial statements, accountants also: provide advice on interpretation and application of financial data, participate with senior management in strategies for mergers, acquisitions and future direction of the organisation, compute cost and efficiency gains from new technologies, analyse the growth opportunities for new products, develop management information system to facilitate organisational control, decision making and reporting on organisational financial performance.
What do I study?
The Accounting major, which can be undertaken as part of the Bachelor of Business, will prepare you for one of the most sought after business professions. Accounting major units focus on financial and management accounting, specialised accounting applications, audit and assurance, and corporate and taxation law.
The final year capstone industry based projects will be based on a real application in industry or in an organisation. This project will allow you to bring together and strengthen the knowledge and skills you have gained during the program.
Bachelor of Business (Majors in: Accounting, Marketing, and Management)
What are the career opportunities?
As a graduate of the accounting major, you may find employment in areas of corporate accounting, financial accounting/reporting, managerial accounting, auditing and assurance, taxation, and investments, within all areas of commerce, industry, and government.
Career roles and options include: Graduate Accountant, Certified Practising Accountant on completion of the CPA program, Chartered Accountant on completion of the CA program, Credit Controller, Credit Analyst, Auditor, Financial Analyst or Consultant, Financial Planner on completion of further financial planning qualifications, Finance Manager, Investment Analyst/Consultant, Investment Manager, Business Analyst/Consultant, Corporate Secretary, Taxation Consultant, Taxation Agent on completion of Tax Agent qualification, Systems Accountant and Forensic Accountant.
Professional accreditation and memberships
The Bachelor of Business (Accounting major) and Master of Professional Accounting courses are accredited by CPA Australia (see http://www.cpaaustralia.com.au), ICAA – Institute of Chartered Accountants in Australia (see http://www.charteredaccountants.com.au), and IPA - Institute of Public Accountants (see http://www.publicaccountants.org.au/). Upon successful completion of these courses graduates will be eligible to apply for associate membership of both CPAA and IPA; and entry to both the CPA Program of CPAA and the CA Program of ICAA.
Even though MIT endeavours to provide correct information, this information may change throughout the year. You are strongly advised to verify the accuracy of this information with the relevant schools before making a decision.