Subject Descriptions

The Master of Professional Accounting (MPA) consists of 12 prescribed units of study (without any electives) and includes a final ‘capstone’ unit Management and Leadership. 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. The TIIS MPA meets the accreditation requirements for entry into one of the two major professional accounting bodies in Australia.

MPA501: ACCOUNTING PRINCIPLES

This course introduces students to the principles and processes of financial accounting the processes and interpretation of financial statements and other financial accounting information. Students engage with the accounting process to prepare and present appropriate accounting information and acquire the analytical skills needed for interpretation of that information.

The subject is introduced with a discussion of the importance of accounting information to decision makers and an introduction to the principles of accrual accounting.

Throughout the subject, special emphasis is placed on examining and evaluating different accounting methods and the impact of accounting choices on business, social, and ethical decisions.

MPA502: BUSINESS AND COMPANY LAW

Welcome to MPA502 Business Company Law. This subject is designed to introduce students to the fundamentals of Australian legal system, contract, tort and company law, and to enhance their insight as to how company law influences practices and policies of business organisations. It provides foundation knowledge of the Corporations Act 2001 – vital to understanding how companies operate in Australia. An understanding of company law is essential for students who are aspiring to a senior position within a company, NGO, or government organisation.

MPA503: ECONOMICS FOR BUSINESS

Economics is concerned with the efficient use of limited resources for the optimal satisfaction of material wants. Economics as a discipline is studied for several fundamental reasons foremost among those is the pursuit of knowledge regarding our social environment and economic behaviour within this environment.

This subject provides students with a solid foundation to the vast array of economic analysis. The Unit starts with an introduction to the method and subject matter of economics and an analysis of the economising problem.

Throughout the subject, special emphasis is placed on exploring current global and ethical issues and analysing real world events such as the Global Financial Crisis (GFC) and the Covid-19 pandemic.

MPA504: BUSINESS FINANCE

A core assumption of business management is that managers seek to maximise shareholder wealth by (in operating terms) maximising the market value of the company’s shares in an ethical manner. This goal is best achieved when management and their financial advisers have a good understanding of how financial markets work.

Students are introduced to principles of corporate finance and investments and seeks to equip them with the skills needed to advise managers and investors on key financial decisions that firms must make. Students are also introduced to issues relating to the financial decision making of investors, including portfolio and risk decisions and asset pricing decisions.

MPA505: CORPORATE ACCOUNTING

Students are introduced to Australia’s corporate accounting and external financial reporting environment, by reviewing professional issues about corporate accounting and disclosure. This unit impresses on students the importance of the ability and need to prepare company and consolidated financial statements, and to understand and analyse the published results of corporate combinations. The focus throughout this subject is on the preparation of general-purpose financial reports (GPFR) that comply with Australian corporate legislation (e.g. Corporation Act and the Australian Accounting Standards Board (AASB) standards).

A primary objective of this course is for students to gain an understanding of how to apply the accounting standards in the preparation of consolidated financial statements.

MPA506: ACCOUNTING INFORMATION SYSTEMS

This subject introduces Accounting Information Systems and their role in organisations—particularly in support of strategic and operational decision-making and problem-solving, as well as operations support and management. Systems thinking; systems design & development; management perspectives on the IT support role to business, system security and ethics; trends, issues and concerns in IS; and end-user application software including spreadsheets, reporting, and database management, are studied and assessed.

This subject provides an introduction to Managing Information Systems – with emphasis on an Accounting perspective (including governance and security). The intent is to provide students with insights as to how to manage, integrate, and secure the IT/IS resources of the firm.

MPA507: MANAGEMENT ACCOUNTING

Management accounting enables managers to plan, communicate, and implement strategy and to perform such functions as: coordinating production, divisions, and departments; controlling costs; making product, pricing, and marketing decisions, and evaluating performance. This unit focuses on the broad management accounting objective: to provide relevant information to managers and empowered employees to allow them to plan the organisation’s actions; control the organisation’s actions; make effective decisions; and evaluate outcomes against the organisation’s strategic goals.

Another important focus of the unit is the recognition of the budgeting process as an integral part of the management control system. Issues relating to preparing and using various types of budgets are considered along with the important process of analysing variances between actual outcomes and budgeted values.

MPA508: BUSINESS STATISTICS AND RESEARCH

Students are introduced to the fundamentals of business statistics, which applies probability science to the art of good decision making, especially in the face of risk and uncertainty. Business statistics is used in many disciplines (e.g. financial analysis, econometrics, auditing, production, operations, customer service and marketing research).

This subject develops: A basic knowledge of the application of mathematics and statistics to business disciplines; The ability to analyse and interpret data to provide meaningful information to assist in making management decisions. Emphasis is placed on determining when it is appropriate to use the various techniques and how to use Excel to conduct analyses.

MPA509: CONTEMPORARY ACCOUNTING THEORY RESEARCH AND PRACTICE

Students are provided with an introduction to advanced issues and applications of accounting standards to the financial reporting requirements in Australia. The focus of this unit is to help students develop their knowledge and understanding of the nature and development of accounting theory to where they can:

Contribute meaningfully to a debate on that subject,

Reference and cross-reference the Australian Accounting Standards Board (AASB) accounting standards to and from accounting theory,

Synthesise, formulate, and justify procedures for the accounting of emerging issues in ways that are consistent with how the handbook handles similar issues.

Students must apply their knowledge and skills, gained in the degree, to advanced issues faced in real-world financial reporting (timing of revenue recognition, capitalisation of expenses, and deferred assets and liabilities, etc.). The subject also considers the conceptual issues and sources of authority for the accounting requirements which are applied to reporting.

MPA510: AUDITING AND ASSURANCE SERVICES

Students are provided with an understanding of the significance of auditing, the role of auditors, and the skill base required for their changing role/s. A key objective of this subject is to provide students with a comprehensive guide to the essential principles and practices of auditing and assurance services within Australia.

The principal aim of this course is to give students an enhanced understanding of the essential audit function, and the practice of financial statement audits. Students are introduced to key external auditing principles and processes, including objectives and limitations of auditing and an appreciation of key issues relating to ethical and legal considerations.

MPA511: TAXATION LAW

This subject seeks to provide students with a sound understanding of taxation principles to enable them to apply relevant Australian tax legislation. This subject introduces the Australian tax system and legislation (including income tax and Goods and Services Tax) with more detailed coverage of the determination of income, deductions, uniform capital allowances, Capital Gains Tax, partnerships, reconciliation from accounting profit to taxable or net income, trusts and minors, companies and franking accounts. Other topics include international aspects of income tax, tax treatment of different entities, and anti-avoidance provisions.

The content of this subject plays a vital role in professional development of accountants and related professionals, such as financial planners.

MPA512: MANAGEMENT AND LEADERSHIP

This subject explores: theory and practices, issues, emerging challenges and implications, and thinking of leadership and management in organisations in an increasingly dynamic and dispersed world with application to an increasingly globalised world. The subject establishes a critical framework to study leadership and management in context in a range of contemporary organisational forms.

A focus of the subject is for the student to critically examine self and others involved in the leadership and management context and to critically reflect on the impact this has upon individuals, teams and managers and organisational design. A central aim is to provide a framework for the analysis of leadership and management of contemporary organisations by engaging students in discussion and analysis of contemporary organisations.