No problems!
By "or does the compulsory units makeup the accounting as a major?", do you mean that by doing the compulsory units and the "compulsory" accounting electives you'll have an accounting major? If so, I think yes. But because you must do 8 electives all up to actually complete the degree, you won't have a major because the requirements for your degree weren't met -- hope that made sense, and I hope I'm right -- it makes sense to me, anyway
As for only having 5 free electives, when
another major (because "accounting" is already a major, I think) requires 8 units, that can be explained by saying that you will need to spend a semester or two
more than the three year duration of the course to complete that
extra major.
But, some majors, like Finance Law, require units that you would have already done, such as: Introduction to Business Law, Taxation Law, and anything else I missed, to complete the major. So, for the Finance Law major, you might be able to complete the "accounting major" and the Finance Law major within the three years -- it just depends on what major you want to do.
And, one more thing I want to add: you can also do a unit during the Summer session (January-February, I think) if you're eager and willing to do the work -- this might reduce the number of years/semesters that you'll need to complete your majors or submajors.