Bachelor of Business (Financial Planning)/Bachelor of Business (Accountancy)
Student type:
Quick facts
-
Duration
Part-time may be available, Full-time 4 years -
Location
Melbourne City -
Fees
Next intake
February, July Duration
Full-time 4 years Location
Melbourne City
Overview
The only degree of its kind in Australia
This unique course combines financial planning and accounting to develop your ability to provide business, finance and wealth advice to individuals and organisations.
Why study this double degree?
This course is designed to produce graduates with the knowledge and skills to launch a professional career, specifically in the provision of business, financial and wealth advisory services.
What will you learn?
This degree will introduce you to the regulatory influences of industry, and build your understanding of accounting, financial planning and products, wealth management, risk management and investment strategies that are essential to providing financial and accounting services to clients.
The changing face of accounting
What do organisations and individuals expect from today’s accountant, and how is RMIT nurturing a new generation of professionals with a range of modern skills?
Details
Classes will mostly be delivered in RMIT's Swanston Academic Building which features innovative learning spaces interspersed with retail and social spaces resulting in a stimulating environment for students.
RMIT offers a variety of learning and teaching approaches including lectures, tutorials, class presentations and student-led discussions, role plays, case study analysis and participating in managing a company in a computer-based business simulation.
Through RMIT University’s online learning portal, myRMIT, you will be able to view online resources and learning activities created by lecturers, access course materials via Blackboard, collaborate with lecturers and fellow students, and access your student email account. Educational software, the Learning Hub, resources and printers are accessible on campus via the RMIT wireless network using your own laptop, tablet or smart phone or via computer facilities on-campus. You will be able to access the same software from home using myDesktop.
Find out more about student computing at RMIT.
Assessment throughout the semester may include examinations, in-class tests, essays, reports, individual and group research projects.
In this degree you will study specialist work-integrated learning courses to contextualise and bring theory to life and have the option to undertake a six month full-time internship.
The internship embeds you in industry and is designed to enhance your technical or theoretical knowledge by seeing its application in a work environment, and will develop your overall professional and soft skills to increase your overall employability.
If you elect not to undertake a six month internship (48 credit points), you may wish to consider enrolling in the Fastrack Innovation Program. In this elective course you will work in a student team with mentors to develop and present a solution to a real problem. This form of fast-prototyping is designed to tap into fresh thinking from RMIT students.
The work-integrated learning courses in this double degree include:
- Superannuation and Retirement. This course provides a comprehensive study of processes, regulatory frameworks and taxation issues and is listed on the ASIC Register of Compliant Training as meeting the requirements for superannuation specialist knowledge under Regulatory Guide 146. It is also worth 15 Continuing Professional Development (CPD) points for membership of professional bodies such as the Financial Planning Association.
- Financial Accounting Theory. This final year course requires you to apply accounting theories to a contemporary workplace situation. You will explore the role of financial accounting in decision making as well as issues relating to regulation of financial reporting and disclosure of financial information in the absence of complete regulation.
- Financial Advisory Practice. This final year course requires you to demonstrate your accumulated knowledge from the degree by preparing, presenting, implementing and reviewing a personal financial plan for a client. You will also explore practical issues in relation to the financial planning industry in general, and practice management specifically.
Completing a global mobility program can help you to stand out in the job market.
In most cases you can gain credit points towards your studies while experiencing another culture and teaching style overseas.
Global mobility options available for this program include:
- Study tours
- First Year Study Tour
- Student exchange
- RMIT International Industry Experience and Research Program (RIIERP)
- Global Entrepreneurship and Internship Program (GEIP).
Find out more about international opportunities in the College of Business.
The degree consists of 32 courses (each 12 credit points, or equivalent) and includes:
- 8 compulsory common business core courses
- 8 accountancy major courses
- 8 financial planning major courses
- 4 specialist courses
- 4 electives.
When planning your studies, you are advised to check which electives are offered each year, as well as general information about professional practice requirements.
You are encouraged to complete a six month internship (48 credit points) as part of this degree.
Other elective study options include:
- undertaking an internship with fewer industry contact hours
- studying general electives
- including a global mobility experience
- learning about starting up your own business by enrolling in BUSM4599 Business Skills for Start Ups.
Choose a program structure
Choose a program structure
Program code: BP313
Career
The flexibility to blend classroom learning with courses that apply those learnings to a work context, plus practical experience in your chosen field will distinguish you in the employment market.
This competitive differentiation will set you up for a successful career as a professional financial planner or accountant, and for a wide range of roles in professional advisory services, financial and management accounting, auditing, assurance and taxation, for commercial and government organisations, including:
- family and personal wealth advisory services
- superannuation
- insurance
- taxation
- banking and financial services
- investment and portfolio management
- organisational governance and accountability
- auditing and assurance
- cost and management accounting
- business and financial management
- funds management
- risk management.
Course accreditation or membership offered by professional bodies signals to employers the quality and relevance of RMIT's courses and opens up career pathways and networks.
Professional bodies accredit or recognise courses as meeting professional and academic standards deemed to be essential for a new graduate entering into that profession. An accredited course will either enable the graduate to enter directly into a professional qualifications program or provide the graduate with exemptions or credit towards a post university professional qualification.
Statutory accreditation
This type of accreditation is where a statutory body must approve a course of study in order for a graduate to practise in that profession.
Membership
Professional bodies or associations are representative organisations of professions that provide membership and other career development support to its members. Many professional bodies offer membership opportunities for students and new graduates with benefits such as career advice, networking within the profession and access to resources not available through the university. The aim of these benefits is to assist with your transition from university into the profession.
Bachelor of Business (Financial Planning) and Bachelor of Business (Accountancy)
Current course accreditations and information about membership and development opportunities for students and graduates.
CPA Australia
Course satisfies the academic requirements for direct entry into the CPA Australia Program. Note: Students must complete Company Law minor to be eligible for entry into the CPA Australia program (Accredited for course delivery in Melbourne, Indonesia and Singapore.)
Membership and opportunities
- Students and graduates eligible to enrol in the CPA Australia Network
- Graduates eligible to enrol in CPA Australia program
- Graduates eligible for membership category: Associate
Visit the CPA Australia website
Chartered Accountants Australia and New Zealand (CAANZ)
Course satisfies the academic requirements for entry into the CA Program. Note: 1. Students at RMIT Melbourne must complete Taxation 1, Auditing 1 and Company Law to be eligible for entry into the CA Program. Note 2. Students at the Singapore Institute of Management must complete Australian Taxation and Corporations Law to be eligible for entry into the CA Program. (Accredited for course delivery in Melbourne and Singapore.)
Membership and opportunities
- Students and graduates eligible for membership category: Student Affiliate
- Graduates eligible to enrol in CA program
Visit the Chartered Accountants Australia and New Zealand website
Singapore Accountancy Commission (SAC)
Course satisfies the academic requirements for entry into the Singapore QP Foundation Program. (Accredited for course delivery in Melbourne and Singapore.)
Membership and opportunities
- Graduates may be eligible for specified credit in the Foundation Program of up to 6 core syllabus areas
Visit the Singapore Accountancy Commission website
Association of Chartered Certified Accountants (ACCA)
Course satisfies the academic requirements for entry into the ACCA Qualification Program. (Accredited for course delivery in Melbourne, Indonesia and Singapore.)
Membership and opportunities
- Graduates eligible for specified credit in the ACCA Qualification Program of up to 9 fundamental level papers
- Students eligible for accelerate program and can register and prepare for ACCA professional level exams prior to graduation
Visit the Association of Chartered Certified Accountants website
Chartered Institute of Management Accountants (CIMA)
Course satisfies the academic requirements to be streamed into the Advanced Route 2 pathway for the CIMA Program. (Accredited for program delivery in Melbourne, Indonesia and Singapore.)
Membership and opportunities
- Students and graduates eligible for specified credit in the CIMA Program of up to 10 papers
- Operational Case Study Exam (OCSE) and Management Case Study Exam (MCSE) can be taken prior to completing degree and CIMA qualification awarded on completion of degree
Visit the Chartered Institute of Management Accountants website
Institute of Chartered Accountants in England and Wales (ICAEW)
Course satisfies the academic requirements for entry into the ACA Program. (Accredited for program delivery in Melbourne, Indonesia and Singapore.)
Membership and opportunities
- Graduates may be eligible for specified credit of up to 8 papers in the ACA Program
Visit the Institute of Chartered Accountants in England and Wales website
The Association of International Accountants (AIA)
Course satisfies the academic requirements for entry into AIA professional qualification programs.
Membership and opportunities
- Graduates eligible for specified credit of up to 12 papers
Visit the The Association of International Accountants website
Institute of Public Accountants (IPA)
Membership and opportunities
- Students eligible for membership category: Student
- Graduates eligible to apply for IPA program
- Graduates eligible for membership category: Associate or Graduate Associate
Visit the Institute of Public Accountants website
Financial Planning Association of Australia (FPA)
Course satisfies the academic requirements to become a Financial Planner and entry to the CFP Certification program.
(Accredited for program delivery in Melbourne and via Open Universities Australia.)
Membership and opportunities
- Graduates eligible to enrol in CFP Certification Program
- Graduates eligible for membership category: Affiliate
- Students eligible for membership category: Student
Visit the Financial Planning Association of Australia website
Financial Adviser Standards and Ethics Agency (FASEA)
Course satisfies the academic requirements for registration as a Financial Planner.
Visit the Financial Adviser Standards and Ethics Agency website
Admissions
You must have successfully completed an Australian Year 12 (or equivalent qualification).
Prerequisites
Units 3 and 4: a study score of at least 30 in English (EAL) or at least 25 in English other than EAL.
Rankings and adjustment factors
Entry to this program is competitive. Eligible applicants are ranked and selected in order of merit based on their academic achievement plus any adjustment factors.
Adjustment factors include equity access schemes and/or subject adjustments.
We will consider your entire academic record to determine your eligibility for entry. The highest level of education you have previously completed will usually determine how you are ranked.
Selection criteria by applicant type
Please select the highest level of education you have or will be completing in order to find out the selection criteria that applies to you, in addition to meeting the above entry requirements.
Adjustment factors available only to applicants currently studying Year 12
School Network Access Program (SNAP)
- The SNAP access scheme is designed to increase tertiary participation by giving priority access to RMIT diploma and degree programs to eligible applicants currently studying Year 12 at a SNAP partner school.
Adjustment factors available only to applicants currently studying Year 12 or whose highest qualification is a completed Year 12.
Subject adjustments
- A study score of 25 in Accounting, Business Management, Economics, Geography, any Information Technology, Legal Studies, any Mathematics, Industry and Enterprise or Psychology equals 1 aggregate point per study.
- A study score of 35 in any English equals 2 aggregate points per study.
- Overall maximum of 5 points.
Regional adjustments
- RMIT automatically allocates adjustment factors to applicants from a low socio-economic status area for all programs that select primarily on ATAR. Low socio-economic status areas are determined by applying the Australian Bureau of Statistics (ABS) Socio-Economic Index for Areas (SEIFA) Index of Education and Occupation.
Equity access schemes
- Equity access schemes take into account personal information and location, difficult circumstances, disadvantaged financial background and disability or medical condition that may have impacted on an applicant’s most recent academic performance.
- This program has been recognised as being under-represented by female applicants. Additional adjustment factors may apply to those applying to category 1 of the Special Entry Access Scheme or RMIT access application.
- Find out more about the eligibility requirements for each Special Entry Access Scheme and RMIT access categories.
- If you are applying through VTAC you should apply for the Special Entry Access Scheme.
- If you are applying directly to RMIT you should apply for RMIT Access. The system will prompt you to do this during your application.
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
We will consider your entire academic record to determine your eligibility for entry. The highest level of education you have previously completed will usually determine how you are ranked.
Successful completion of any Australian Diploma or Advanced Diploma (or equivalent) will meet the minimum entry requirements for this course.
Special Tertiary Admissions Test (STAT)
You may satisfy the academic requirements by completing the STAT multiple choice.
If you are applying to RMIT as an applicant with vocational education training, you may sit the STAT multiple choice if you:
are 19 years of age or over as of 1 January in the year in which you will start your studies and
have not been enrolled in secondary studies for at least two years and
have no prior secondary school (Year 12), VET studies, HE studies or relevant work experience that can be considered for entry, or these do not meet the minimum academic requirements for the program
STAT results are valid for two years prior to the commencement of study and can be used to meet Year 12 English prerequisites. You are still required to meet all other program prerequisites or equivalents.
Learn more about RMIT STAT results including minimum STAT scores required to meet prerequisites.
You may be eligible for the following adjustment factors:
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
Entry to this program is competitive. Applicants are ranked and selected in order of merit based on their academic achievement, e.g., GPA (including any adjustment factors).
We will consider your entire academic record to determine your eligibility for entry. Previous fail grades in similar courses may affect your eligibility.
- successful completion of an Australian higher education diploma (or equivalent overseas qualification); or
- successful completion of at least four courses (subjects) at an Australian associate degree (or equivalent) and no double-fail in any required course of the receiving degree; or
- successful completion of at least two courses (subjects) at an Australian undergraduate level (or equivalent) and no double-fail in any required course of the receiving degree; or
- successful completion of two Open Universities Australia higher education units. Scored or graded results are required.
Special Tertiary Admissions Test (STAT)
You may satisfy the academic requirements by completing the STAT multiple choice. If you are applying to RMIT as an applicant with higher education study, you may sit the STAT multiple choice if you:
are 19 years of age or over as of 1 January in the year in which you will start your studies and
have not been enrolled in secondary studies for at least two years and
have no prior secondary school (Year 12), VET studies, HE studies or relevant work experience that can be considered for entry, or these do not meet the minimum academic requirements for the program
STAT results are valid for two years prior to the commencement of study and can be used to meet Year 12 English prerequisites. You are still required to meet all other program prerequisites or equivalents.
Learn more about RMIT STAT results including minimum STAT scores required to meet prerequisites.
You may be eligible for the following adjustment factors:
Equity access schemes
- Equity access schemes take into account personal information and location, difficult circumstances, disadvantaged financial background and disability or medical condition that may have impacted on an applicant’s most recent academic performance.
- This program has been recognised as being under-represented by female applicants. Additional adjustment factors may apply to those applying to category 1 of the Special Entry Access Scheme or RMIT access application.
- Find out more about the eligibility requirements for each Special Entry Access Scheme and RMIT access categories.
- If you are applying through VTAC you should apply for the Special Entry Access Scheme.
- If you are applying directly to RMIT you should apply for RMIT Access. The system will prompt you to do this during your application.
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
Entry to this program is competitive. Applicants are ranked and selected in order of merit based on their academic achievement, e.g., Special Tertiary Admission Test (STAT) score (including any adjustment factors).
You must have successfully completed an Australian Year 12 (or equivalent qualification) and meet the stated prerequisites. Work and life experience does not provide any additional consideration for entry to this program. You may satisfy the academic requirements by completing the STAT multiple choice.
Special Tertiary Admissions Test (STAT)
You may satisfy the academic requirements by completing the STAT multiple choice. If you are applying to RMIT as an applicant with work or life experience, you may sit the STAT multiple choice if you:
are 19 years of age or over as of 1 January in the year in which you will start your studies and
have not been enrolled in secondary studies for at least two years and
have no prior secondary school (Year 12), VET studies, HE studies or relevant work experience that can be considered for entry, or these do not meet the minimum academic requirements for the program
STAT results are valid for two years prior to the commencement of study and can be used to meet Year 12 English prerequisites. You are still required to meet all other program prerequisites or equivalents.
Learn more about RMIT STAT results including minimum STAT scores required to meet prerequisites.
You may be eligible for the following adjustment factors:
Equity access schemes
- Equity access schemes take into account personal information and location, difficult circumstances, disadvantaged financial background and disability or medical condition that may have impacted on an applicant’s most recent academic performance.
- This program has been recognised as being under-represented by female applicants. Additional adjustment factors may apply to those applying to category 1 of the Special Entry Access Scheme or RMIT access application.
- Find out more about the eligibility requirements for each Special Entry Access Scheme and RMIT access categories.
- If you are applying through VTAC you should apply for the Special Entry Access Scheme.
- If you are applying directly to RMIT you should apply for RMIT Access. The system will prompt you to do this during your application.
Elite Athlete Program
- The RMIT Elite Athlete Program supports eligible elite and emerging athletes to achieve sporting and academic excellence, allowing students to balance the demands of both their studies and their athletic responsibilities.
Aboriginal and Torres Strait Islander peoples
- The Indigenous Access Program supports your application to RMIT through an informal interview process where you will receive help from the Ngarara Willim Centre. Additional consideration will be given if you have relevant life, work, education or training experience.
Additional information
*ATAR refers to the lowest selection rank to which an offer was made (including consideration of any adjustments) for current and recent Year 12 applicants.
RMIT is committed to providing transparency to the admissions process. In line with this commitment, we provide you with information that will help in making informed choices about your undergraduate study options. Find out more about RMIT’s commitment to admissions transparency.
You must have successfully completed an Australian Year 12 (or equivalent senior secondary school qualification) with a minimum average of 75% (check calculator below).
Equivalent qualifications may also include completion of the RMIT Foundation Studies program or a recognised post secondary diploma in the relevant discipline with the required grades.
Meeting the minimum academic requirements does not guarantee entry. Your application will still need to be assessed and accepted.
If you don't meet the entry requirements, there may be other RMIT programs you are eligible for that can lead you to your preferred program. Explore your pathway options.
To study this program you will need to complete one of the following English proficiency tests:
- IELTS (Academic): minimum overall band of 6.5 (with no individual band below 6.0)
- TOEFL (Internet Based Test - IBT): minimum overall score of 79 (with minimum of 13 in Reading, 12 in Listening, 18 in Speaking and 21 in Writing)
- Pearson Test of English (Academic) (PTE (A)): minimum score of 58 (with no communication band less than 50)
- Cambridge English: Advanced (CAE): minimum of 176 with no less than 169 in any component.
For detailed information on English language requirements and other proficiency tests recognised by RMIT, visit English language requirements and equivalency information.
Don't meet the English language test scores? Complete an English for Academic Purposes (EAP) Advanced Plus Certificate at RMIT English Worldwide.
Pathways
This course offers pathway options. If you don’t meet the entry requirements, a formal pathway might be your way in.
Undertaking a certificate, diploma, advanced diploma or associate degree can help you meet the entry requirements for your preferred course. These qualifications often provide credit, reducing the duration of your bachelor degree and helping you get the degree you want.
Use our Pathways finder or contact Study@RMIT for more information.
Credit and recognition of prior learning
Credit, recognition of prior learning, professional experience and accreditation from a professional body can reduce the duration of your study by acknowledging your earlier, relevant experience. Find out if you might be eligible.
When you successfully complete this program you may be eligible for entry into the Bachelor of Business (Honours).
Alternatively, you may be eligible for entry into other RMIT honours or postgraduate programs.
Fees
2021 indicative fees
In 2021, the annual student contribution amount (tuition fee) you will pay for a standard year of full-time study is between AU$3,700 to AU$14,500*.
Additional expenses
- Student services and amenities fee (SSAF): AU$313 maximum fee for 2021.
- Other items related to your program, including field trips, textbooks and equipment.
Annual fee adjustment
Amounts quoted are indicative fees per annum, and are based on a standard year of full-time study (96 credit points). A proportionate fee applies for more or less than the full-time study load.
Fees are adjusted on an annual basis and these fees should only be used as a guide.
Defer your payment
You may be eligible to apply for a HECS-HELP loan, which can be used to defer payment of up to the full amount of your student contribution fees. You may also be eligible to apply to defer payment of your SSAF through the SA-HELP loan scheme.
Learn more about fees for undergraduate study.
Paying your fees and applying for refunds
For information on how to pay your fees or how to apply for a refund, please see Paying your fees and applying for refunds.
All undergraduate and honours degrees have Commonwealth supported places (CSP) available.
In a CSP, your tuition fees are subsidised by the Australian Government. Your share of the fee (student contribution) is set each year by the Australian Government and is determined by the discipline areas (bands) of the courses in which you enrol, not the overall program.
How much can I expect to pay for my Commonwealth supported place?
The Australian Government has announced amendments to university funding and student contribution fees under its Job-ready Graduates Package.
The fees in the table below apply to students commencing their program in 2021 and are subject to the passage of legislation. Fees for continuing students are available at fees for Commonwealth supported students.
Each course (subject) falls into a band. The band determines the student contribution amount for the course.
Amounts listed in the table below are based on a standard, full-time study load (96 credit points per year) with all courses in the same band. A proportionate fee applies for more or less than the full-time study load or for enrolment in courses (subjects) from a combination of bands.
You can learn how to calculate your exact tuition fees for units from different bands at fees for Commonwealth supported students.
Maximum student contribution amount for Commonwealth supported places in 2021
Student contribution band by course (subject) |
Maximum annual student contribution amount in 2021 |
Agriculture, english, languages, mathematics, nursing, postgraduate clinical psychology, teaching |
$3,700 per standard year $462 per standard (12 credit point) course |
Architecture, creative arts, engineering, environmental studies, health, information technology, science |
$7,700 per standard year |
Dental, medical and veterinary science |
$11,300 per standard year |
Arts, commerce, communications, economics, humanities (excluding languages), law, management |
$14,500 per standard year |
HECS-HELP Loans
The Australian Government provides financial assistance via the HECS-HELP loan scheme, which allows eligible students (such as Australian citizens or holders of an Australian permanent humanitarian visa) to defer payment of up to the full amount of their student contribution.
SA-HELP Loans
You may be eligible to apply to defer payment of the Student services and amenities fee (SSAF) through the SA-HELP loan scheme. If you use SA-HELP, the amount will be added to your accumulated HELP debt.
How does a HELP loan work?
If your FEE-HELP and/or SA-HELP loan application is successful, the Australian Government will pay RMIT, on your behalf, up to 100% of your fees. This amount will become part of your accumulated HELP debt.
You only start repaying your accumulated HELP debt to the Australian Government once you earn above the minimum income threshold for repayment, which is set each year by the Australian Government (this also applies if you are still studying). The Australian Taxation Office (ATO) will calculate your compulsory repayment for the year and include this on your income tax notice.
For more information about loan repayment options see Commonwealth assistance (HELP loans) or Study Assist.
In addition to tuition fees, you will be charged an annual student services and amenities fee (SSAF), which is used to maintain and enhance services and amenities that improve your experience as an RMIT student.
The SSAF is calculated based on your enrolment load and the maximum fee for 2021 is $313.
For more information about calculating your actual SSAF see Paying SSAF.
You may also be required to purchase other items related to your program, including field trips, textbooks and equipment. These additional fees and expenses vary from program to program.
The annual tuition fee for 2021 is AU$36,480.
The total indicative tuition fee for 2021 commencement is AU$160,320.
In addition to tuition fees you also need to pay for:
- Student services and amenities fee (SSAF) in each calendar year.
- Overseas Student Health Cover (OSHC) - Student visa holders must have cover for the total duration of their visa.
- Some programs incur additional expenses.
You also need to account for your living expenses. Estimate the cost of living in Melbourne.
Applying for refunds
Find information on how to apply for a refund as a continuing international student.
Looking for answers or more general infomation?
For frequently asked questions or how to find more information regarding applications and enrolments, fees, student support services, university policies and more, please visit our Frequently Asked Questions.