Master of Professional Accounting

Unit description 


Accounting for Managers 

While this unit provides an introduction to accounting issues relevant to both preparers and users of business reports, it predominantly explores the principles of financial and management accounting from a user perspective. The focus of the unit is on decision-making, providing practical knowledge of preparing basic financial statements and analysing information obtained from the accounting system to assist in management decision-making. 


Accounting Theory and Governance 

The focus of this capstone accounting unit is on the theories that underpin contemporary accounting issues and accounting standards. Topics include accounting theories, governance and ethics, measurement alternatives, social responsibility reporting and triple bottom line, and the importance of understanding user needs and impediments to transparent financial reporting. 



The objective of the unit is to develop a theoretical and legal background to the role and responsibilities of the auditor and the audit process. Topics include accepting and planning audit engagements, audit evidence, audit procedures, audit reports, auditing standards, evaluating audit risk, internal control, legal background to audit responsibilities and duty of care, and the scope and limitations of the audit. 


Accounting Processes 

This unit provides the fundamental concepts and technical skills that students need for future units in accounting. By the end of the unit, students will be able to record accounting transactions and produce relevant financial statements in accordance with the Australian Accounting Standards. 

Topics include cash flow statements, the double entry recording system, financial statements, and valuation and measurement of assets. Students will also utilise QuickBooks software to facilitate their understanding of the computerised accounting process. 


Business Finance 

This unit provides students with an understanding of the macroeconomic setting in which corporate financial decisions are made. They will be exposed to finance theory, and the tools and techniques used in financial decision-making. To assist students in achieving this understanding, it is necessary for them to perform basic financial calculations. The conceptual framework and techniques covered in this unit will provide students who wish to progress to a practitioner role within the finance discipline with a foundation for further studies. 


Business Valuation 
This unit provides an overview of business valuation and the standards, concepts and principles of valuation, and their application in the financial and corporate world. It introduces a valuation framework for doing financial statement analysis, together with practical skills in business valuation. Different approaches to business valuation will be explored together with outcomes that are theoretically sound and practically defensible. 


Corporate Accounting 

This is an advanced unit in financial accounting which focuses on the issues that arise because a business is incorporated. 


The topics encompass those that have a high degree of specific relevance to large public companies, including accounting for foreign currency, asset revaluation and intangibles, consolidations, share issues and tax-effect accounting.

These topics will be discussed in the context of the law, the International and Australian Accounting Standards, and generally accepted accounting practices. 


Economics and Business Strategy 
Increasing competition and rapid technological change mean that managers must have a sound understanding of the economic fundamentals of business enterprises, the operation of markets and the role played by governments. In this unit, particular emphasis is given to the strategic interdependence of many businesses and their efficiency. 


Management Accounting 

This unit focuses on providing accounting information to internal management. The topics include advanced costing methods and systems for services, information for managing resources for performance evaluation, products and overheads, and tactical decision-making. 

In addition, contemporary approaches to measuring and managing performance using non-financial indicators will be discussed. 


Principles of Business Governance 
This unit provides an overview of the multifaceted governance framework of business in Australia. 

It gives an introduction to the governance requirements relevant to business within an Australian context, with particular reference to business transactions, ethical and fair business practices, the establishment and operation of business associations, including partnerships and corporations, and the rights, duties and obligations of various stakeholders in these business associations. 


Quantitative Research for Business 

Statistics are a vital part of most decision-making processes. Both descriptive and inferential statistics are utilised to explain and interpret information. This unit introduces data analysis and decision-making tools for managers. Students will identify situations in which quantitative analysis can support problem-solving and decision-making. They will gain experience in applying decision-analysis techniques and statistical packages in management contexts. These include the modelling of business research problems, presenting descriptive measures of quantitative data and reporting statistical inferences. 


Taxation Principles 

The unit considers the principles of Australian income tax law as they apply to all taxpaying entities. 

The emphasis is on learning general tax rules and how they apply to broad categories of business and financial transactions, rather than on the myriad of specific provisions and exemptions. 

The teaching of this primary tax unit at graduate level is based on the idea that students will approach tax law as an integrated component of a complex economic and business environment.