School of Accounting and Commercial Law

Accounting Profession and Careers

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Overview

The School of Accounting and Commercial Law (SACL) maintains excellent relationships with the accounting and legal professions and business and government communities. Specifically, SACL has accreditation arrangements with New Zealand and International accounting professional bodies, to provide courses that allow our students to meet their academic requirements.

The accounting professional bodies to which Victoria are currently accredited to are:

  • New Zealand Institute of Chartered Accountants (NZICA)
  • CPA Australia
  • Chartered Institute of Management Accountants (CIMA), UK
  • Association of Certified Chartered Accountants (ACCA)

Employment prospects for graduates in Accounting are wide ranging. All organisations of moderate and larger size require the services of an accountant or chartered accountant. To become a professional accountant you need to join a professional accounting body.

Each professional body has different requirements that must be met before full membership of the body can be obtained. The requirements cover three areas:

  1. Academic or university study (both length of study and papers required to be taken);
  2. Professional study; and
  3. Professional experience.

To meet the academic requirements of these professional bodies, students commencing studies from 2010 should complete at least a 3-year BCA or BCom degree and include the following courses:

  • Economics: ECON 130 and ECON 140
  • Statistics: QUAN 102 and QUAN 111
  • Organisational Management: MGMT 101
  • New Zealand Commercial Law: COML 203, COML 204 and COML 310
  • Introductory Accounting: ACCY 001 and ACCY 111
  • Accounting Information Systems: ACCY 225
  • Advanced Financial Accounting: ACCY 231 and ACCY 308
  • Advanced Management Accounting: ACCY 223 and ACCY 302
  • Auditing and Assurance: ACCY 330
  • Taxation: TAXN 201 and TAXN 301
  • Business Finance: FINA 201 or FINA 211
  • Enterprise Operations: FCOM 111 and MARK 101 

The completion of these courses, the remaining BCA or BCom compulsory core papers and 360 points (including one additional COML 300-level course) will give a student a BCA or BCom with an Accounting and Commercial Law major and meet the academic requirements of all the accounting professional bodies Victoria is accredited to.

The information below provides more details about what is required to become a professional accountant for each of these accounting professional bodies.

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New Zealand Institute of Chartered Accountants (NZICA)

The New Zealand Institute of Chartered Accountants (NZICA) promotes the interests of over 33,000 accounting professionals in 90 countries throughout the world. NZCIA members benefit from their association with the Global Accounting Alliance (GAA). This body represents the interests of over 775,000 accounting professionals worldwide.

The CA qualification is highly regarded, and Chartered Accountants aspire to the highest professional and ethical standards. Chartered Accountants are multi-skilled professionals. Their work involves a range of business activities, including giving advice, strategic planning, negotiating deals, management and providing financial information to support business decisions, as well as preparing financial reports, auditing and providing tax advice.

To become a member of the College of Chartered Accountants of NZICA you will need to complete their academic requirements, followed by three years of practical experience and complete the professional competency programme.

For more information on the practical experience, professional competence and academic requirements, please go to NZICA’s student website www.nzica.com/students.

Meeting the NZICA Academic Requirements

The academic requirements for the New Zealand Institute of Chartered Accountants CA College have been reviewed several times since 2007. There are now three different sets of academic requirements that may be relevant to you. Which one you need to follow depends on when you began your degree:

  1. New academic requirements introduced in January 2012 to reflect changes to a 3-year degree requirement - 2012 requirements. All students who began their studies after 1 January 2012 must complete under these requirements.
  2. New academic requirements introduced effective 1 January 2010. All students who began their studies after 1 January 2010 must complete under the 2010 requirements or the 2012 requirements.
  3. Academic requirements introduced effective 1 January 2007. All students who began their studies after 1 January 2007 can complete under the 2007, 2010 or 2012 requirements.

What does this mean for you?

Generally, for students who began their accounting study in:

  • 2007 or 2008: Complete under the 2007 CA College academic requirements.
  • 2009: Make a choice between the 2010 CA College academic requirements and the 2012 academic requirements.
  • 2010 or 2011: Complete under the 2012 academic requirements.

For additional guidance on which set of academic requirements is the correct one for you, please contact the school for further information and advice.

Note: Beginning studies is defined as having passed a degree level course in accounting (e.g. ACCY 111).

Students are not permitted to select aspects from different requirements; you must complete under only one set of requirements.

The following sections outline the 2012, 2010 and 2007 CA college requirements. For information regarding NZICA’s academic requirements for their Associate Chartered Accountants (ACA) and Accounting Technicians (AT) colleges, see the Institute’s website, website www.nzica.co.nz.

2012 NZICA CA College Academic Requirements

The new NZICA academic requirements as of January 2012 are the following:

  1. Completion of three-year, full-time equivalent degree level study. This is 360 points at Victoria University
  2. Completion of a recognised Bachelors Degree
  3. Completion of the following papers
    • Economics - ECON 140
    • Statistics - QUAN 102
    • Organisational management - MGMT 101
    • New Zealand commercial law - COML 204 and COML 310
    • Accounting information systems - ACCY 225
    • Advanced financial accounting - ACCY 308
    • Advanced management accounting - ACCY 302
    • Advanced auditing and assurance - ACCY 330
    • Taxation - TAXN 301
    • Business finance/treasury - FINA 201 (or FINA 211)
  4. In addition to the above courses, the following pre-requisites, accounting or core courses are required:
    • ECON 130, ACCY 111, MARK 101, INFO 101, FCOM 111 and QUAN 111
    • ACCY 001, ACCY 223, ACCY 231, COML 203 and TAXN 201

2010 NZICA CA College Academic Requirements

Under the 2010 NZICA Academic Policy, the academic requirements for the CA College are:

  1. Completion of four-years, full-time equivalent, degree level study. This is 480 points at Victoria University.
  2. Completion of a recognised bachelor’s degree.
  3. Completion of the following compulsory topics:
    • Economics - ECON 140
    • Statistics - QUAN 102 (15 points of liberal)
    • Organisational management - MGMT 101
    • Commercial law – COML 203; COML 204 or 303; COML 305 or 310
    • Accounting information systems – ACCY 225
    • Advanced financial accounting  - ACCY 308
    • Advanced management accounting – ACCY 302
    • Advanced auditing and assurance – ACCY 330
    • Advanced taxation – TAXN 301 or ACCY 305
    • Advanced business finance/treasury – FINA 201 (or FINA 211) 
    • 15 further points of liberal study – QUAN 111 (as it is required for FINA 201 or FINA 211)

In addition to the above courses, a four-year programme that includes a BCA or BCom in Accounting, needs to incorporate the following prerequisites, accounting or core papers:

  • ECON 130, ACCY 111, MARK 101, INFO 101 and FCOM 111.
  • ACCY 001, ACCY 223, ACCY 231, and TAXN 201.

2007 NZICA CA College Academic Requirements

The 2007 academic requirements require the completion of a four-year full-time equivalent recognised programme of study at an approved tertiary institution, containing certain topics in accounting and business and a minimum of 15% liberal courses (72 points at Victoria). From 2011, the NZICA liberal requirement has been reduced to 30 points.

Meeting the 2007 academic requirements at Victoria

The course of study chosen to meet the 2007 NZICA CA College academic requirements needs to include the following courses:

  1. ACCY 223, 225 or 317, 231, 232, 302, 308;
  2. Two further 300 level accounting or business papers*;
  3. COML 203, 303; either COML 301 or 305;
  4. ECON 140, MGMT 101, MOFI 201, QUAN 102; and
  5. 72 liberal points from the following list:
    • All COMM, PUBL or QUAN courses.
    • Any other VUW courses not in the BCA or BCom or BTM schedules.

* Note: The Graduate Diploma in Accounting (2008 statute) requires three 300 level accounting papers as well as the completion of 72 liberal points.

NZICA recognises the following substitutes to the 2007 CA College academic requirements:

  • FINA 201 for MOFI 201
  • ACCY 330 and TAXN 201 for ACCY 232
  • COML 204 for COML 303
  • COML 310 for COML 301 or 305

Prerequisites and corequisites for these courses must be met. This includes ACCY 111, ACCY 001, ECON 130 and QUAN 111.

Liberal courses are generally described as non business and accounting course. The liberal component is waived where an advanced degree (e.g. BCA or BCom(Hons)) is undertaken that includes a research component.

The only courses considered liberal from within the BCA or BCom degree are those labelled COMM, PUBL and QUAN. No TOUR courses are considered liberal. LAWS courses in business, commercial and taxation law are non liberal, while all other LAWS courses are liberal. All other VUW courses are liberal; this covers over 60 different course labels.

2006 NZICA CA College Academic Requirements

The 2006 academic requirements include the completion of a four-year full-time equivalent recognised programme of study at an approved tertiary institution, containing certain topics in accounting and business. For further information on meeting the 2006 requirements at Victoria, please contact the NZICA.

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CPA Australia

With a membership of more than 132,000 finance, accounting and business professionals across the globe, and a 25,000 strong student base, CPA Australia is one of the largest accounting bodies in the world. CPA Australia has branches and divisions around the world including New Zealand, Australia, London, China and in a number of other countries throughout Asian.

For further details about CPA Australia, see their website www.cpaaustralia.com.au or their student-dedicated website www.cpaaustralia.com.au/students.

Meeting the CPA Australia Academic Requirements

To meet the accreditation requirements for CPA Australia at Victoria University of Wellington requires a three-year Bachelors degree including passes in the following courses.

For students who commenced study prior to 2012* For students who commenced study from 2012
ACCY 001 ACCY 001
ACCY 111 ACCY 111
ACCY 223 ACCY 223 and ACCY 302
ACCY 231 ACCY 231 and ACCY 308
ACCY 232 or TAXN 201 TAXN 201 and TAXN 301
ACCY 302 or ACCY 308 ACCY 330
ACCY 303 or ACCY 330 ACCY 225
INFO 101 or ACCY 225 COML 203 and COML 204
COML 203 FINA 201 or FINA 211
COML 303 or COML 204 ECON 130 and ECON 140
MOFI 201 or FINA 201 (or FINA 211) QUAN 102 and QUAN 111
ECON 140
QUAN 102

*In addition, the following courses are required:

  • ECON 130, and
  • QUAN 111 (Prerequisite for FINA 201 or FINA 211).

To check you have met all core subject requirements within your CPA Australia accredited degree, at Victoria University of Wellington please go to the link: http://www.cpaaustralia.com.au/cps/rde/xchg/cpa-site/hs.xsl/become-students-accredited.html.

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Chartered Institute of Management Accountants (CIMA), UK

CIMA, founded in 1919, is a leading membership body that offers an internationally recognised professional qualification in management accounting, which focuses on accounting for business. For further information about CIMA, see their website www.cimaglobal.com.

Our recent accreditation for CIMA (UK), for students who graduate between 2013 and 2018, requires a BCA or BCom degree with a Major in Accounting; specified courses are required to be included in the course of study.

To obtain an exemption from the CIMA-Certificate in Business Accounting, the following courses need to be taken

  • ACCY 001, ACCY 111, ACCY 223, ACCY 225, and ACCY 231
  • QUAN 102 and QUAN 111
  • ECON 130 and ECON 140
  • COML 203 and COML 204

To obtain an exemption from the operations level of the CIMA-Advanced Diploma in Management Accounting, the following additional papers need to be completed:

  • FCOM 111, MGMT 101 and MARK 101
  • ACCY 302 and ACCY 308
  • TAXN 201 and TAXN 301

For students who graduated prior to 2013, to obtain an exemption from the CIMA-Certificate in Business Accounting, the following courses needed to be taken:

  • ACCY 111, ACCY 001, and ACCY 223;
  • FCOM 111 (110), ECON 130, STAT 193; and
  • COML 203 and COML 303.

Exemption from PO1 as part of the CIMA-Advanced Diploma in Management Accounting can be obtained by passing ACCY 223 and ACCY 302.

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Association of Certified Chartered Accountants (ACCA)

ACCA is the global body for professional accountants with nearly 500,000 members and students in 170 countries and 82 offices around the world. Its members are employed in industry, financial services, the public sector and in public practice.

Our accreditation for ACCA requires a BCA or BCom degree with a Major in Accounting; specified courses are required to be included in the course of study.

For further information about ACCA, see their website www.accaglobal.com.

For students who graduate between 2013 and 2017, to obtain an exemption from the fundamental level courses (F1-F4) requires the completion of a BCA or BCom degree with a Major in accounting. Exemptions are also available for the other fundamental level courses (F5-F9). These are:

  • ACCY 223 and ACCY 302 (F5)
  • TAXN 201 and TAXN 301 (F6)
  • ACCY 111, ACCY 231 and ACCY 308 (F7)
  • ACCY 330 (F8)
  • FINA 211 or FINA 201 (F9) 

For students who graduated in 2011 or 2012, to obtain an exemption from the fundamental level courses (F1-F4) requires the completion of a BCA or BCom degree with a Major in accounting. Exemptions are also available for the other fundamental level courses (F5-F9) These are:

  • ACCY 223 and ACCY 302 (F5)
  • TAXN 201 and TAXN 301 (F6)
  • ACCY 231 and ACCY 308 (F7)
  • ACCY 330 (F8)
  • FINA 201 (F9).

For students who commenced their studies between 2000 and 2007, to obtain an exemption from the Fundamental Level courses (F1-F4) requires the completion of a BCA or BCom degree with a Major in Accounting. Exemptions are also available for the other fundamental level courses (F5-F9). These are:

  • ACCY 302 (F5).
  • ACCY 232 or ACCY 305 or TAXN 301 (F6).
  • ACCY 308 (F7).
  • ACCY 232 or ACCY 303 or ACCY 330 (F8)
  • MOFI 201 or FINA 201 (F9).

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How To Find Out More

For further information, please see the current SACL Academic Prospectus or contact the School.

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