Master of Professional Accounting (Advanced) MPAA

Master of Professional Accounting (Advanced) — MPAA consists of 16 prescribed units of study (without any electives). The course prepares graduates for a professional accounting career. The carefully sequenced program of study provides an advanced body of knowledge, practical skills and real-world application to a range of contexts for the professional accountant.

Subject No. Subject Credit Pts.
MPA501 Accounting Principles 6
MPA502 Business and Company Law 6
MPA503 Economics for Business 6
MPA504 Business Finance 6
MPA505 Corporate Accounting 6
MPA506 Accounting Information Systems 6
MPA507 Management Accounting 6
MPA508 Business Statistics and Research Methods 6
MPA509 Contemporary Accounting Theory: Research and Practice 6
MPA510 Auditing and Assurance Services 6
MPA511 Taxation Law 6
MPA512 Management and Leadership 6
MPAA601 Strategic Business Leadership 6
MPAA602 Strategic Business Reporting 6
MPAA603 Advanced Performance Management 6
MPAA604 Advanced Audit and Assurance 6

Learning Outcomes

On successful completion of this subject students will be able to
  1. Establish the purpose and importance of accounting; identify key users and uses of accounting information; and explain why accounting has a significant impact on business, social and ethical decisions.
  2. Identify, record, and process business transactions in the accounting system, and prepare financial statements to reflect financial performance, financial position and cash flows.
  3. Apply accounting principles, concepts and relevant accounting standards to prepare financial statements and reports.
  4. Examine and evaluate different accounting methods and explain possible motivations for the selection of an appropriate method.
  5. Employ financial ratios to evaluate a firm’s performance, financial position, and cash flow situation.
  6. Articulate effectively and professionally the findings of an analysis of ratios in a group report.
  1. Critically examine the foundations of Australian company law.
  2. Critically discuss and apply contract and tort law in business circumstances.
  3. Critically analyse the concept of corporate internal rules and management.
  4. Critically discuss and apply the legal framework that regulates a company’s dealings with outsiders.
  5. Analyse the interaction between members’ rights, directors’ duties and corporate governance.
  6. Analyse the procedures regarding external administration and winding up.
  1. Describe key microeconomic and macroeconomic concepts and theories.
  2. Apply knowledge of microeconomic models and examine how the interplay between cost and demand fundamentals determines profit-maximising decisions in the commercial world.
  3. Explain the manner in which macroeconomic concepts such as fiscal and monetary policy, business cycles, international trade and balance of payments determine overall levels of production and employment in the economy.
  4. Analyse real world examples such as the Global Financial Crisis to evaluate the effect of government interventions in shaping market structures and distribution of value in the international sphere.
  5. Explore current global and ethical issues and events through critical reading of economic literature, including media articles; and apply economic models and theories to review and formulate arguments concerning these issues.
  1. Explain the fundamentals of financial objectives and decision-making in the contemporary business environment.
  2. Apply knowledge of the principles of financial markets, capital management and time value of money.
  3. Employ financial mathematical techniques (e.g. capital budgeting) to evaluate projects and make well-reasoned investment decisions.
  4. Explore the concept of market efficiency and the different types and implications of efficient market theory (EMF).
  1. Describe the nature of the corporate entity and critically examine the role of Australian Corporations Law in influencing the operation of companies and dictating their accounting disclosures.
  2. Examine the concepts and statutory requirements including Australian and International Accounting Standards that underpin accounting and reporting in the Australian environment and apply them to prepare financial accounting reports for various forms of company structures.
  3. Demonstrate knowledge of current international trends in key accounting areas and explain how these link to the technical framework applied to Australian reporting entities.
  4. Employ technical skills and underlying accounting concepts to solve accounting problems when accounting for the commencement, acquisition and liquidation of companies.
  5. Apply an advanced understanding of the conceptual framework and the complexities of factors such as shareholder equity, controlled entities, wholly owned subsidiaries and intra-group transactions to prepare consolidated financial statements.
  6. Articulate to both accountants and non-accountants an explanation of the impact of ethical and cultural issues on the preparation and reporting of financial statements for corporate structures.
  1. Describe the role of Information Technology in contemporary business organisations and demonstrate knowledge of the applications of computer-based accounting finance systems.
  2. Identify different approaches to the development and implementation of Accounting Information Systems and explain how they aid managerial decision-making processes and the efficiency and effectiveness of business processes.
  3. Employ relevant software for accounting and financial analysis and reporting.
  4. Critically examine issues of security, privacy and ethics associated with the use of Information Systems and clearly communicate an analysis and evaluation of the level of risk facing business organisations.
  5. Explore the risk of fraud and examine techniques used to mitigate fraud; Explain how internal controls and risk management are used to maintain the security and integrity of information and processing.
  6. Evaluate Accounting Information System tools in terms of adding value and supporting decision-making and apply the basic steps in system development to design and improve on a system.
  1. Describe the nature of management accounting and explain its role in the planning, control and decision making activities of contemporary organisations.
  2. Prepare, analyse and critically evaluate information needed to assist management decision-making in areas of costing and cost management, budgeting and performance evaluation.
  3. Explain how management accounting decisions affect internal and external stakeholders and shape an organisation over time.
  4. Assess an organisation’s management accounting information system relative to its goals, strategies, operations and business environment.
  5. Employ critical thinking skills and apply knowledge of management accounting concepts to evaluate the consequences of alternative management accounting practices for costing, planning and control on an organisation’s business performance.
  1. Explain the principles and methods used for extracting key information from data and examine the value of statistical analysis in business decision-making settings.
  2. Design a statistical analysis by applying the principles of hypothesis testing and employing a range of quantitative techniques.
  3. Apply knowledge of analytical strategies including: graphical depictions of data; numerical descriptive measures; concept of probability; inferences drawn from sample data; and the interpretation of linear relationships.
  4. Employ the tools of Microsoft Excel for statistical data analysis.
  5. Identify appropriate research methodologies (both qualitative and quantitative) to solve given problems encountered in business settings and effectively communicate the results of the analysis.
  1. Apply knowledge of accounting techniques, the conceptual framework, concepts, principles and theories to resolve financial reporting problems.
  2. Apply a structured decision model to exercise judgement in applying accounting standards.
  3. Apply the professional accountants code of ethics and ethics models to evaluate ethical issues and appreciate the importance of ethical, social, and cultural considerations in accounting.
  4. Develop an understanding of accounting policy choices available or under consideration for application within International IFRS GAAP and US GAAP.
  5. Think critically about underlying theories, concepts, assumptions and arguments in accounting.
  6. Effectively use oral and written communication to further learning and impart understanding of accounting issues to peers and others; and
  7. Work in teams to design, direct, and undertake a research project on a contemporary accounting or business issue.
  1. Demonstrate an understanding of the key concepts and reporting requirements of the auditing process.
  2. Demonstrate an understanding of the auditor’s professional, legal and ethical responsibilities to their clients and third parties.
  3. Identify the elements and techniques used in the audit process—including risk analysis; evidence collection; use of information technology; evaluation of evidence; and audit reporting.
  4. Understand the audit planning procedures, evaluate the business risk and assess the internal control.
  5. Prepare auditing procedures for transactions and balances by conducting control and substantive tests.
  6. Examine the importance of the audit process to the quality of financial statements and identify the integral role played by the auditor in corporate governance, including the auditor’s reporting obligations.
  7. Critically examine and discuss contemporary audit issues and challenges; review the impact of these on aspects of auditing such as internal controls, inherent risks and audit evidence.
  1. Describe the nature of the Australian taxation system from a broad public policy perspective.
  2. Demonstrate the ability to apply relevant elements of Australian taxation law for both individuals and business.
  3. Interpret the provisions of the Income Tax Assessment Act, determine their impact on particular financial transactions, and prepare a written statement of advice to a taxpayer.
  4. Calculate the tax liability for individuals, partnerships, trusts and companies, having identified and evaluated the different tax treatment relevant to particular entities under taxation law.
  5. Research and analyse relevant material from tax legislation case law, and Australian Taxation Office rulings to critically discuss contemporary tax issues.
  1. Demonstrate a critical ability to relate leadership theory and practice to contemporary organisational management processes in an increasingly dynamic and dispersed world.
  2. Reflect upon own leadership style and approach.
  3. Apply critical strategic thinking skills at the organisational level, to foster organisational dialogue and to lead and manage processes and people in organisations within a context sensitive environment.
  4. Appraise new models of leadership and management as a way of considering structural options for organisations, such as networked and ‘virtual’ organisations.
  5. Apply leadership skills within a small-team environment and in independent situations.
  1. Promote a positive, progressive culture from within organisations by adopting best practices to manage the tone from the top, while encouraging a whole organisation perspective in managing performance and value creation.
  2. Evaluate the effectiveness of the governance and agency system of an organisation and recognise the responsibility of the board or other agents towards their key stakeholders, including social responsibilities and reporting implications.
  3. Evaluate the strategic position of the organisation against its evolving external environment (including risks and opportunities) and the availability of internal resources, to identify strategic options which are feasible within a culture of responsible risk management.
  4. Select and apply appropriate information technologies, systems, and data analytics, to analyse factors affecting the organisation’s value chain (e.g. strategic opportunities and options) within a framework of robust IT security controls that ensure compliance with, and the achievement of, organisation’s objectives and the safeguarding of organisational assets.
  5. Enable success through innovative thinking, applying best-practice strategies (e.g. the high-level financial techniques from the Applied Skills exam section) to manage disruptive technologies, change and to initiate, lead, and organise projects, while effectively integrating talent and business resources.
  6. Apply a range of Professional Skills to evaluate requirements within the Strategic Leader examination and integrate with current work experience.
  1. Apply fundamental ethical and professional principles to ethical dilemmas and discuss the consequences of unethical behaviour.
  2. Evaluate the appropriateness of the financial reporting framework and critically discuss changes in accounting regulation.
  3. Apply professional judgement in the reporting of the financial performance of a range of entities (e.g. single entities, groups, public sector entities, not-for profit entities).
  4. Prepare the financial statements of groups of entities.
  5. Interpret financial statements for different stakeholders.
  6. Communicate the impact of changes and potential changes in accounting regulation on financial reporting.
  1. Plan, monitor, and manage organisational performance via feedback from strategic planning and control models.
  2. Assess, mitigate, and manage the impact of risk and uncertainty on organisational performance/outcomes.
  3. Evaluate key design features of effective performance management information and monitoring systems and anticipate how developments might influence performance-measurement-and-management systems.
  4. Apply appropriate strategic-performance-measurement techniques in evaluating and improving organisational performance with a full understanding of their strengths, weaknesses, and limitations.
  5. Advise clients and senior management on strategic-performance evaluation with fair and due recognition and mitigation of exposure to corporate failure.
  1. Recognise how the legal and regulatory environment impacts on audit and assurance practice and procedures.
  2. Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework.
  3. Assess, develop, and recommend appropriate quality-control policies and procedures in practice management and recognise the auditor’s position in relation to the acceptance and retention of professional appointments.
  4. Identify, formulate, and document the work needed to meet the audit objectives and assignments. And, apply the International Standards on Auditing.
  5. Evaluate and summarise the findings and results of work performed and draft suitable reports on assignments.
  6. Identify, formulate, and document the work required to meet the non-audit objectives and assignments.
  7. Understand and integrate current issues and developments related to the provision of audit-related and assurance services

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