Accounting Cadetships 2009 (3 Viewers)

[zdzislaw]

Yes yes, i'm just the obssessive type who likes reassurance

 

[FINALFLASH-GO]

u have a small chance to receive an interview, if u arnt involved with school
then if u tank that interview, u get it

 

[seremify007]

So I'm guessing 89.45 won't have a chance in hell?

UAI isn't everything- it's just a good indicator of whether or not you will get into a uni course which is compatible with the cadetship program (i.e. they offer part time/night classes) and are also CA-eligible.

Don't put yourself down- but as others have mentioned, you need to be strong in the other areas.

 

[lyounamu]

Is EY the only company that sponsors people who want to do double degree?

 

[melonkitten]

So I'm guessing 89.45 won't have a chance in hell?

yes it will

uais come out after cadetships

 

[seremify007]

Is EY the only company that sponsors people who want to do double degree?

AFAIK they are the only ones who openly encourage it. Other firms can be negotiated with if you receive an offer.

 

[lyounamu]

AFAIK they are the only ones who openly encourage it. Other firms can be negotiated with if you receive an offer.

Ohhh I see. Thanks!

Then what about the course's majors and minors and etc?

Do they encourage you to choose certain major? (apart from accounting obviously)

 

[¬_¬]

Majors/Minors don't really mattrer as long as you're CA eligible.

 

[lyounamu]

Majors/Minors don't really mattrer as long as you're CA eligible.

CA?

What is CA?

Sorry about my lack of knowledge

 

[¬_¬]

CA?

What is CA?

Sorry about my lack of knowledge

Chartered Accountant. Chartered Accountants - Number One In Numbers, Homepage

 

[lyounamu]

If you do accounting cadetship but you also do like actuarial or finance as your another major, after you get your degree, can you come back to company as actuary or banker or whatever?

 

[hungwell1337]

If you do accounting cadetship but you also do like actuarial or finance as your another major, after you get your degree, can you come back to company as actuary or banker or whatever?

err u must major in accounting

 

[lyounamu]

err u must major in accounting

but you can choose 2 majors can't you?

 

[hungwell1337]

but you can choose 2 majors can't you?

and 1 of them has to be accounting i think

 

[seremify007]

If you do accounting cadetship but you also do like actuarial or finance as your another major, after you get your degree, can you come back to company as actuary or banker or whatever?

By default no. It is presumed that you are going to be returning to the same division you started off in because they are the ones who paid for your grant and any additional training costs. That being said if you want to do a transfer, you'll need to speak to your counsellor within the firm who can advise and help you get where you want to be.

That being said, have you done much research on accounting firms which offer cadetships? AFAIK none have a banking division per se- there are corporate finance roles, and audit divisions which specialise in banking, etc... but none where you'll actually be a banker. Actuary on the other hand is a possibility but again you'll need to discuss this- it's not automatic nor is it presumed.

Also note, at least where I work, transferring between business units is one thing (i.e. Within the same line of service such as Assurance or Tax & Legal) whereby the skills are easily transferrable. Changing line of service from say Assurance to a Tax or Advisory/Consulting role requires a totally different set of skills and you'll need to be retrained (essentially you will be joining as a fresh grad then). Usually people who transfer divisions do it before they finish their cadetship (i.e. before they go back to full time uni) because it is the division you finish and plan to return to which will pay for any additional costs (such as your full time study allowance/grant).

 

[¬_¬]

Chartered Accountant. Chartered Accountants - Number One In Numbers, Homepage

Emphasis on this. You need to be eligible to undertake the CA program when you graduate from uni and this will require you to have completed certain subjects in uni (typically an Accounting major and a few others such as Business Law, taxation, basic finance, etc...)

The uni which is the exception to this is UTS which were smart enough to bundle all the CA/CPA-required subjects into their Accounting major. Kudos to them and I wish UNSW had done the same.

 

[lyounamu]

By default no. It is presumed that you are going to be returning to the same division you started off in because they are the ones who paid for your grant and any additional training costs. That being said if you want to do a transfer, you'll need to speak to your counsellor within the firm who can advise and help you get where you want to be.

That being said, have you done much research on accounting firms which offer cadetships? AFAIK none have a banking division per se- there are corporate finance roles, and audit divisions which specialise in banking, etc... but none where you'll actually be a banker. Actuary on the other hand is a possibility but again you'll need to discuss this- it's not automatic nor is it presumed.

Also note, at least where I work, transferring between business units is one thing (i.e. Within the same line of service such as Assurance or Tax & Legal) whereby the skills are easily transferrable. Changing line of service from say Assurance to a Tax or Advisory/Consulting role requires a totally different set of skills and you'll need to be retrained (essentially you will be joining as a fresh grad then). Usually people who transfer divisions do it before they finish their cadetship (i.e. before they go back to full time uni) because it is the division you finish and plan to return to which will pay for any additional costs (such as your full time study allowance/grant).

Ohhh I see. Then is there any point in doing Commerce Degree or Comm/Law degree where you get 2 majors? Sounds like a good waste of a year or so.

 

[seremify007]

Ohhh I see. Then is there any point in doing Commerce Degree or Comm/Law degree where you get 2 majors? Sounds like a good waste of a year or so.

I don't understand what you meany by a waste of a year or so?

To be eligible for a Commerce degree for example, you need to complete a certain number of UOC (units of credit). Each normal subject is worth 6UOC but there are some which are only worth 3 (i.e. the easy online ones). From memory I think you need a minimum of 144UOC to complete the B Commerce degree.

Within this 144UOC you can take various subjects- such as the core required subjects (Accounting 1A/1B, QMA/QMB, Macro/Microeconomics) and then you can choose the rest yourself. Based on the subjects you choose, you may be classed as a major or a minor in particular disciplines (e.g. Accounting or Finance majors). Typically each major requires you to do the basics (such as an introduction to finance, etc..) before you are able to progress to the more advanced courses within the major such as the elective subjects (e.g. Options and Derivatives, Auditing, Financial Statement Analysis, Bank and Financial Management, etc...) It's possible to do a double-major within the 144UOC without taking on any extra semesters. Some unis also require you to do general-education courses which are from other schools besides the one which you are enrolled in (e.g. a Commerce student can do something from Engineering, Science, Arts, etc... I personally did Environmental stuff).

CA-eligibility is a seperate thing altogether whereby the ICAA (the institute which runs the programs) require you to have completed certain subjects as prerequisites to being eligible for the CA program. These are listed on the CA website. Alot of the subjects they require typically form part of an Accounting major with a few from other faculties within the School of Business (or relevant Commerce/Economics department).

(Note that the above is based on UNSW but I'd imagine other universities offer a similar type of structure)

As for Comm/Law, I'm not expert but AFAIK you can only have one non-Law major.

 

[lyounamu]

Well, you said that you cannot do another course apart from accounting.

Then why not just do accounting course (which is like 3 years) rather than doing some commerce that is like 5 years?

But I see it now, thanks.

 

[seremify007]

Well, you said that you cannot do another course apart from accounting.

Then why not just do accounting course (which is like 3 years) rather than doing some commerce that is like 5 years?

But I see it now, thanks.

Sorry I still have no idea what you're talking about in the first two lines above...?

Keep in mind there is a difference between 'course', 'subject' and 'major'. Accounting in itself is a major not a course (at least at UNSW, USYD and UTS; exception again being the UTS Accounting coop/scholarship program).

I think what you may have been referring to is the different divisions within an accounting/professional services firm?