The Programme

The Master of Accountancy is a part-time degree programme offered by Charles Sturt University (CSU) in collaboration with the Centre for Advanced and Professional Studies (CAPS), Caritas Francis Hsu College (CFHC). The degree offered in Hong Kong is of the same standing and recognition as the degree offered by the University in Australia.

Our Support

Caritas Francis Hsu College (CFHC) is an Approved Post Secondary College registered under the Post Secondary Colleges Ordinance (CAP 320) in Hong Kong for the delivery of higher education programmes. Under CFHC, the Centre for Advanced and Professional Studies (CAPS) specializes in the local administration of tertiary programmes offered in Hong Kong by overseas institutions and also institutions in Mainland China.

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Programme Objectives

The programme is designed to provide a generalised professional accounting education to graduates of non-accounting disciplines and to satisfy the academic requirements of the Australian accounting professional bodies, including the Institute of Chartered Accountants in Australia (ICAA) and the Certified Practising Accountants Australia (CPA Australia).

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Career Prospects

The degree opens the way to many new career directions. Students are trained to work in the public practice as

• auditors,
  
• tax agents,
  
• management consultants and
  
• company secretaries.

Graduates in countries where this programme is offered, including

• Australia,
  
• Hong Kong,
  
• Malaysia and
  
• Singapore,

are prepared to take up senior managerial positions in commerce and industry as well as
become accounting academics.

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Recognition

The Master of Accountancy degree is accredited by both the Certified Practising Accountants Australia (CPA Australia) and the Institute of Chartered Accountants in Australia (ICAA), and is recognised internationally. Graduates are eligible to apply for the Associate Membership (ASA) of the CPA Australia and enrol in the CPA Program. On completion of six CPA Program segments and three years mentored work experience, candidates will gain the qualified CPA(Aust.) designation of CPA Australia.

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Programme Structure

The programme consists of 12 subjects which are as follows:

• ACC511 Accounting & Information Systems
• ACC512 Management Accounting for Costs & Control
• ACC513 Management Accounting for Decisions
• ACC514 Financial Accounting
• ACC515 Accounting & Finance
• ACC516 Advanced Financial Accounting
• ACC517 Auditing & Control Systems
• ACC518 Current Developments in Accounting Thought
• LAW511 Commercial Law 1
• LAW512 Commercial Law 2
• LAW514 Australian Taxation
• ECO511 Economics for Business

Unit Descriptions

Prerequisite: N/A

The main objective is to provide students with a foundation for a modern profession education in accounting. Introduces students to the discipline in an integrated manner dealing with both management accounting and financial accounting and developing and using quantitative, information technology and communication skills. Provides the basis for an iterative and spiral approach to accounting, introducing students to areas of accounting dealt with in greater depth in later subjects.

Prerequisite: N/A

Focuses on management accounting for costing and control purposes in an organisational
context. The subject emphasises the use of quantitative techniques and computer software
including spreadsheets and presentation graphics. An overview of Management Accounting Theory with emphasis on Systems Design and Contingency Theory provides a framework for the analysis of conventional and modern cost accounting paradigms.

Prerequisite: ACC511 or ACC501

The focus is on aspects of management accounting which assist decision makers in
organisations. Models of choice are evaluated together with quantitative operation research techniques and the role played by the management accountant in providing information for these choice models. Extensive use is made of computer software designed to support the decision making function.

Prerequisite: ACC511 or ACC501

Builds upon the introduction to financial accounting provided in prerequisite subjects. The
major focus is on partnership and company accounting requirements including corporate
external reporting practices, the analysis and interpretation of financial statements, accounting for corporate restructuring, and statutory and professional issues.

Prerequisite: ACC511

Integrates accounting and finance functions in the setting of the financial institutional environment; includes theories of investment and financing, and an examination of analytical tools relevant to modern financial decision making. Appropriate computer software is used to assist financial analysis.

Prerequisite: ACC514

Deals with the accounting and reporting requirements of corporations set down by legislation and the professional accounting bodies in Australia. It follows on from ACC514 Financial Accounting, concentrating on accounting for different forms of business combinations, including parent-subsidiary relationships, foreign subsidiaries, associated companies and joint ventures. Some of the more current financial reporting disclosure requirements for companies are also studied, as an introduction to the many more advanced aspects of financial reporting to be continued in ACC518 Current Developments in Accounting Thought.

Prerequisite: ACC514

Examines the impact of auditing concepts on professional and legal exercise of responsibilities. Covers application of advanced audit techniques, including appropriate mathematical and computer models; control of audit quality and audit for specific purposes.

Prerequisite: ACC516

A critical review of developments in accounting theory and professional standards including the search for a conceptual framework, the evaluation and comparison of various accounting models and discussion of contemporary accounting and reporting issues.

Prerequisite: N/A

The subject introduces students to the Australian Constitution and the Australian legal system and provides topics on the legal framework of business regulation and substantive law relevant to accounting. Topics also encompass contract law, agency, partnership, torts, trusts, negotiable instruments, credit transactions and business ethics and the law.

Prerequisite: LAW511

This subject provides the student with comprehensive view of various common law principles and legislative enactments affecting business activity in the modern world. Topic areas covered include the law relating to companies, the legislative controls on business activity under the Securities Industry legislation and the Trade Practices Act, and the law relating to financial failure of business activity.

Prerequisite: N/A

Examines the principles of Australian taxation law and practice. The notion of carrying on a
business, the nature and derivation of assessable income (including capital gains), incurring of allowable deductions, the taxation of trading stock and the impact of Fringe Benefits Tax are considered in the context of taxpayers who are individuals, partnerships and companies.

Prerequisite: N/A

Provides a foundation in macro and microeconomics principles appropriate to the accounting discipline. Includes consumer behaviour and the theory of demand; the theory of the firm, investment and technology, welfare and public policy, the determination of aggregate income, theories of inflation and the understanding of economic techniques appropriate to management decision making.

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Programme Duration

The programme is normally taken over 3 years (6 sessions). There is an accelerated
programme which can be taken over 2 years (4 sessions).

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Mode of Study

The programme is delivered via the following modes:

Compulsory Advisory Sessions

An advisory session is conducted for each subject by CSU lecturers in Hong Kong. The
sessions are held once in each semester, over weekends that consist of Friday evenings plus two full days on Saturdays and Sundays in April and September respectively.

Students are compulsorily required to attend the seminars.

Self-study

Quality study materials are specially designed and professionally prepared for subjects offered under the programme. The study package for each subject contains

• comprehensive study notes,
  
• a subject outline,
  
• a study time schedule,
  
• reading materials and
  
• all other relevant information.

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Assessment Policy

Assessment for each subject is by

• prescribed coursework and
  
• written examinations,

which are held in

• mid-June and
  
• mid-November,

during daytime on weekdays.

To qualify for the award of the Master of Accountancy degree, students must satisfactorily
complete the required 12 subjects. A "pass" grade for each subject is awarded only when
students achieve a pass in all assessment items for that subject.

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Admission Requirements

Applicants for the programme must possess ONE of the following qualifications:

• an undergraduate non-accounting degree from an Australian tertiary institution, OR
  
• an overseas award deemed equivalent to an Australian degree, OR
  
• the Graduate Certificate in Accounting and Financial Management, OR
  
• Membership of a Professional Accounting Institute, i.e., ACCA, ICMA, ACA, CPA, CA

English is the medium of instruction, and students are expected to have a good command of the English language.

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Credit Exemptions

The maximum amount of credit is

• 25% or 3 subjects for Bachelor degree holders, and
  
• 50% or 6 subjects for Master degree holders.

The qualifying criteria for obtaining credit exemptions are that the subject content, assessment method and standard of previous studies must be equivalent to those prescribed for the Master of Accountancy subjects.

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Intakes Per Annum

There are two intakes per year: in February and in July.

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Fees and Mode of Payment

The current tuition fee is set at A$1,100 per subject. The tuition fees cover all teaching and
learning strategies and study materials but do not cover textbooks (optional). Tuition fees are subject to annual review.

Tuition fees are to be paid by credit card or bank draft on a subject-by-subject basis. Bank drafts must be made payable to "Charles Sturt University" and forwarded to the Programme Administrator at Caritas Francis Hsu College - CAPS, 1/F, SUP Tower, 75-83 King's Road, North Point, Hong Kong. If you choose to pay the tuition fees by credit card, the duly completed Credit Card Payment Authority Form is to be sent to the same address, on or before the due date for payment, as specified in the offer of admission.

Fees paid are not transferable. Fees paid will not be refunded unless there is a premature
cessation of the program (a very unlikely case to occur) in which case refund will be made
within one month after the commencement of the session.

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Education Allowance and Loans

• This programme has been included in the list of reimbursable courses for Continuing Education Fund (CEF) purposes. Eligible applicants may receive up to HK$10,000 CEF reimbursement.
  
• Students of this programme may also eligible to apply for the Non-Means Tested Loan from the HKSAR government through the Student Financial Assistance Agency.

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Application Procedure

Application for admission can be made only on the University application form.

Application forms can be obtained by phone, fax or mail from
Caritas Francis Hsu College - CAPS
1/F, SUP Tower
75-83 King's Road
North Point
Hong Kong

The duly completed application form must be submitted in person, together with

• a recent passport-sized photograph;
  
• a non-refundable application fee of HK$200 (payable by cash), plus
  
• originals and copies of supporting certificates, diplomas and relevant transcripts, as
  evidence of academic and professional qualifications obtained, for certification
  purpose.

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Closing Dates for Application

All applications must be submitted to Caritas Francis Hsu College - CAPS on or before the respective closing dates:

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Contact Information

HONG KONG
	Programme Administrator of MAcc Centre for Advanced & Professional Studies
	Caritas Francis Hsu College 1/F, SUP Tower 75-83 King's Road North Point Hong Kong
	2508 9122
	2524 0659
	caps@cfhc.caritas.edu.hk
AUSTRALIA
	Senior Off-Shore Liaison Officer International Division
	Charles Sturt University Locked Bag 669 Wagga Wagga NSW 2678 Australia
	+61-2-6933-2553
	+61-2-6933-2799
	offshore@cus.edu.au

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Local Registration

The Master of Accountancy has been registered with the Education Department in accordance with the Non-local Higher and Professional Education (Regulation) Ordinance (CAP. 493). The Course Registration Number is 210092.

According to the Ordinance, it is the discretion of individual employers to recognize any
qualification to which the courses may lead.

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