In my latest series of posts, I’ll be going through each of the majors in Bachelor of Commerce. I may also do some majors for other courses too with some guest posts.
BCom Majors: Accounting
“Because I can’t get a job with any other major”
The accounting major is most popular major of the BCom at UoM. This is reinforced by the multiple lecture streams available for most core accounting subjects. Below is a rundown of the Accounting subjects:
Accounting Reports & Analysis (ARA): Pretty straightforward. Basic bookkeeping. Just a revision of VCE Accounting with a bit of a difference in some content. I don’t see any reason how this subject cannot get smashed, it’s very easy.
Accounting Transactions & Analysis (ATA): Much the same as ARA. Just covers different topics. Another easy subject to score in.
Accounting Processes & Analysis (APA): An absolute joke of a subject covering garbage topics which are very easy to spin some nice BS on. Great average booster if you’re good at BS.
Intermediate Financial Accounting (IFA): Probably the hardest subject in the major. Easy to smash it if you know what you’re doing though. Big consolidation question on the exam is usually pretty fun.
Cost Management (CM): Very easy, lots of easy theory questions which are common sense and then there’s all these costing methods and variances to learn which are pretty simple too. Hear that now there’s a lot more theory in it these days which is probably making the subject even easier, if that’s possible.
Business Finance (Bus Fi): Just simple finance. Mid Semester test for this subject is basically a free 25% since there’s like a few multi-choice questions which are pretty straight forward. Also this is a subject which has massive amounts of FOBs. Don’t be surprised if you’re tutorial has around 90-95% of students being FOB.
Financial Accounting (FA): Lots of lame theory from business finance and some basic working out. Few of the topics are quite interesting but most of this subject is largely garbage.
Auditing & Assurance Services (Audit): Absolute joke of a subject. Impossible to fail, Easy to H1, hard to get 90+ on.
Enterprise Performance Management (EPM): A mix of Organisational Behaviour and Cost Management according to most people. Much the same as auditing in terms of scores. Hard to fail.
Principles of Business Law (PBL): Easy H1 with a ton of rote learning and regular quizzes.
Corporate Law (Corp): Content is quite interesting, subject is generally not bad. Exam weighting is heavy however, so just cram during SWOTVAC.
Taxation Law (Tax): Ratty and very lame content. Not too difficult to get H1 but tough to get 90s. Get a good partner for the assignment.
The FOB contingent is high for the Accounting major, as it’s basically a permanent residency factory for most FOBs, but don’t let that deter you from pursuing it! There’s still plenty of local students in it too.
In terms of career outcomes for graduates, most go into professional services like the big 4, the less worthy go to mid tiers, some go straight into industry, and the super geniuses go into government since the exit opportunities from the APS are amazing and going to Canberra is cool and super fun!
Most of the locals will end up being employed prior to graduation unless they’ve got a horrid transcript, even then most still get decent jobs. For FOBs, they usually try to get PR and get a job here or end up back home or in a nearby country.
Oh, and before someone goes through and starts picking out grammar and spelling mistakes, just note that this post was written on my phone during a commute in a foreign country and I can’t be bothered going through and fixing it all.
Worst thing about this major is those silent international infested tutorials where nobody says a word.
IFA was fun, not because of the content but because of the lecturer (Noel Boys). His the most hilarious and down-to-earth lecture out of the accounting course and that’s saying something…
Agreed, he was hilarious.
Hey. So, based on your subject descriptions, I’m gathering you must either be a rather bright student..or is the accounting major just easy in Unimelb? If you don’t mind me asking, what was your CGPA and where are you working now? You’re anonymous anyway so you can just be honest about it.
I’m asking because I’m trying to get some real deal information about accounting prospects. I have an ENTER of 98.95 which I gathered from your posts would be just average in Unimelb but meh, that’s okay, I’ve always known where I stood.
Yeah I did Accounting and Finance. I did pretty good, H1 average. I was pretty lazy though so maybe the course is easy, but I am pretty good academically.
I work at an investment bank now. Accounting is alright, its low risk and medium return.
If you’re confident and ambitious you can probably do better, but then again you have to be pretty smart in this economy to get a good gig in finance and yeah 98.95 isn’t anything special but at least you knew that.
When you say accounting is alright, I suppose you’re referring to jobs in the Big 4 and smaller firms like BDO & Pitcher Partners, yeah. So did you get into this double major with investment banking in mind or did you consider accountancy? I know a senior who graduated in your year with a decent H1 average, but he failed to get any calls – not even for an interview – from a single investment bank. Any pointers to getting in? Did you do an outstanding internship, had sporting achievements or things like that?
I realise my questions are getting a little off topic from what you intended your blog to be but it’s good to be able to talk to an actual fresh grad in the industry. Feel free to say you won’t be answering these questions.
Yeah I was going to do either Investment Banking or Management Consulting and my last resort was accounting. Thankfully it never came to that as I got offers from firms in both IB and MC so I was content.
And yeah I was referring to those firms when I said Accounting is alright.
I had great extra curricular activities in my resume with things like, sports, leadership, part time job, community work, some volunteer stuff and also got an internship at an investment bank, which I am now at.
I’m going to do a post on careers in the future but I’ve been incredibly busy with a variety of things which has made it difficult to sit down and write up anything.
Anyway, I think it’s like 2am over in Melbourne now. You should sleep.
That’s some CV. Good on you. Okay so is there honestly NO ONE in your grad program with great grades and say, an accounting internship, student society leadership and part time jobs? Also with participation in IB challenges (not winning team, but shortlisted). I guess actually getting the job is another thing but not even getting a call says competition is pretty darn steep.
Fess up time, I might sound like a freshie to you, but I’m really in my last semester here. IB isn’t for me. I’m no goon but academically, H2A isn’t gonna cut it. Plus I’m not made of IB stuff. But hey, congrats on that job. You must have been pretty stoked for all your confidence. (‘Content’. Really.)
Yeh, should be asleep but a certain consulting subject is keeping me awake. I’d repeat your advice to you, but you just made it seem like you’re not in Melbourne. You probably can’t afford sleep anyway. Ha.
Do that careers post, please. I await your take on Careers Advice Day. Are you running this blog alone?
Everyone I work with offers something special. There’s not one merely “above average” person here, ok maybe one or two but they started during the boom times, most of the people around my age are geniuses or have something about them which makes them really stand out in a good way.
Yeah have fun in uni, its a joke. I miss the spare time now and yeah, H2A relegates you to non-IB jobs.
Correct, I’m not in Australia, at the moment, due to work, I’m far far away from that part of the world (Thank god!)but I still sleep a solid 6 hours a night although some days are just way too busy for that.
Yeah, that post will come up soon, maybe I’ll write it on the plane trip back. We’ll see.
Anyway, back to work before I’m forced to leave at midnight again.
Wow! Thank you! I constantly wanted to write on my blog something like that. Can I take a part of your post to my website?
Outstanding post, you have pointed out some wonderful details , I too think this s a very excellent website.
Can you elaborate more on what Corporate Law is like? Is it useful for IB?
[…] most students do Finance with concurrent majors in Accounting or Economics, but I have heard of some students undertaking it along with side joke majors such as […]
My brother suggested I might like this blog. He was totally right.
This post actually made my day. You can not imagine just how much time
I had spent for this information! Thanks!
The most rudimentary role of business accounting is to help interested parties to make critical business decision. For more details please visit:http://www.accountancymatters.com.au/
I really can’t believe how great this site is. Keep up the good work. I’m going to tell all my friends about this place.
This site looks better and better every time I visit it. What have you done with this place to make it so amazing?!