This is the transcript for the video Bachelor of Accounting
Michelle Cook
And thank you for joining us for today’s webinar, where we’ll be going through the UTS Bachelor of Accounting Co-op scholarship here at UTS. Firstly, I would just like to acknowledge that we are located on the land of the Gadigal people of the Eora Nation and the Gadigal people have cared for the community, land and waters for generations, based on their deep knowledge of their country. We pay respects to their ancestors, elders, and acknowledge their status as the first people of this land. I’m also conscious that we’re zooming in from so many different places so I would like to acknowledge the traditional owners of the locations you’re dialing into as well.
My name is Michelle Cook. I’m the director of the Bachelor of Accounting program and we are also joined by our two first year students, Sean and Annabelle, one of our third year students, Georgia and two of our alumni Hamish, who is a graduate at Macquarie Bank, and Lauren, who is Manager at EY. In the background we’re also joined by the ‘A-team’, which is Carin, who works with me on the BAcc program, and will be answering any questions that will come through sort of during the session.
So let’s get started. So what are we presenting on today? Let’s have a little overview. So we’re going to talk about what Bacc is; Bachelor of Accounting that is; what are your course structures if you get in; looking at our sponsors, how our internships work, and also career options, the application process and then getting to our Q&A.
So one of the questions I’m always asked is, well, how is BAcc different to the BBuss, which is the Bachelor of Business at UTS. I always answer and say, well, the Bachelor of Accounting is like a degree, a business degree on steroids. It is intense, it is faster than the normal Bachelor of Business, you have to major in accounting, but we will go into majors later because you will do more than one major, but accounting must be one of them. It’s a full time, position with scholarships that are given about $51,000 (up to) over your three years. And it has two six-month internships. So all these things we will go through. And unlike the Bachelor of Business, the Bachelor of Accounting, you also have to go through an application process, which has an interview, online assessment, etc. But don’t worry, as I’m saying, that’s a lot of information. But we’re going to touch on each one individually as we go through.
So you might be saying, let’s talk about why accounting. Well, in Bachelor of accounting, the reason we do this major is because it’s a mission statement of ours to really create a generation of business leaders and global business leaders using accounting as its foundation. And do we fulfill this lofty ambition? We certainly do. So I’m going to read you about some of the things our alumni are doing. So we have the CFO of LendLease, CFO GPT, the Head of Finance of Westpac, the CEO for the National Center of Indigenous Excellence, the Finance Director of the ICONIC, the CEO of JBwear, we even have the CFO of Wests Rugby, and the Vice President of McKinsey Transformation. It goes on and on and on. And what I’m always interested in is that we also have the Director of Business Processes and Analytics at Paramount Pictures in California. If you want to check on that, please do; look in LinkedIn and see what these amazing alumni are doing. In fact they all are BAcc’s they all say that the skills they learned in accounting helped them to achieve their success. So while they may not have a role that says accounting in their title, all those accounting skills, they use in everyday positions. In fact, a third of our alumni are overseas. So accounting is the language of business. And I know people say that all the time. But what does that mean? So to further break it down into sort of human speak, what does a business need? A business simply needs more money coming in than money coming out? And accountants ensure business viability, there’s not like the advisors to the business. I call them the doctors of industry, they examine they advise and prescribe ways to keep businesses healthy and functioning. But I’m really interested just to throw to Annabelle for a second, Annabelle, what are some of the things you thought accounting would be? And what has it been in reality?
Annabelle – BAcc Student
Ah, hi everyone, my opinion of Accounting has definitely shifted in the past five or six years, I come from a family of accountants and I swore off it. But the more I read into the accounting industry, the accounting degree, and how accounting is in business, the more I fell in love with it. I usually describe it in three words, and that is dynamic, innovative and future-focused. And I find that this degree just proves that more to me every single day. The more like when I say the more I learn about it, the more I love it. I’m not joking. Every single day, I’m on a lecture or tutorial. And accounting is honestly in every single part of a business. I want to go into business partnering, so that’s not really money accounting, like calculating each little number it’s teaching people about money, and how to use it better, and how to use their finances to benefit a business. And I think you need to take a 360-view on what is accounting and how can it can help you in the business world.
Michelle Cook
Thanks Annabelle. And I’m going to throw to you, Lauren now; could you add anything to what Annabelle has said as an ex back? And from an industry perspective.
Lauren – BAcc Alumni
Yeah, no, I think that they were really great and accurate points as well, from my perspective. So I’ve been in industry aside from the internships that I did with that for nearly four and a half years now. And what I’ve really learned most is that accounting has absolutely been the foundation of the work that I do no matter, I’m in a consulting role at the moment. And so no matter what kind of client that I’m being put on, and what kind of project I need to complete, the actual essence of accounting and the core skills that I learned from the BAcc program, and through the CA thereafter, actually informed a lot of what was being what I need to do to solve problems. And accounting is no longer about, you know, just number crunching, or looking at what we call debits and credits or recording, it’s now thinking about the analysis behind why things are the way they are in a business. And, and that’s honestly such a critical skill to be able to understand what is happening and how to improve overall business performance.
Michelle Cook
That is, you’ve encapsulated that so well, both of you. Because you know, and also it’s one of those myths, isn’t it? That because accounting isn’t about math, it’s about problem solving, and innovating and also being great global citizens in this world. If you can use a calculator on your phone, you’ll have enough math skill to come into accounting. Interestingly, you can work anywhere in the world did you know with accounting, except North Korea, but I’m gonna do some fun facts. Add QANTAS do you know this, they actually employ more accountants than pilots? The FBI have more accountants than agents. And the person who invented bubblegum was an accountant. Yeah, just through that last one in just to show how fun we are.
Getting back into it. So it is a really competitive course in BAcc. And we do have high expectations of you. So it starts very early in January, where you go into an intensive course we call fast-track. So fast track. In first year, you’ll do two subjects in about six weeks. After that you do five subjects a semester, most university students do four. And the reason we do that is so that we can fit in your two six-month internships during your program course. We expect students to be I suppose continue to develop themselves as rounded people, and we expect the highest standards both personally and professionally. There is an expectation to perform well academically and give back to the university. And what I really like is also always give back to each other. It’s a privilege to be in this course. And so to develop yourself in this way, suits UTS as well because we believe in developing really socially responsible students who are not only have been themselves will have a positive social impact, as students but also in the industries that they will go to. I asked you now Sean and Georgia, like I say that when people get really scared about the workload, but how did you find the workload?
Sean – BAcc Student
Yep. Personally, of course, the Fast Track period was difficult. It was our first sort of few weeks in university. And we’re already covering such incredible amounts of content. Of course, covering like two subjects, in like six weeks was quite hectic at times. But what I’ve found really with the Bachelor of Accounting is you’ve got such a tight knit, like sort of cohort and group of that’s there to support you through it. Everyone’s there, everyone’s helping each other. And that really does assist with making the workload very manageable. After fast track, I’ve found that if you can get through year 12, you can definitely get through the university workload covering five subjects at the minute. Yes, I’m in university around three days a week. But I’m also combining that with social commitments with work commitments. And I found that completely manageable. So yes, it’s hectic at the start. But you do find your your rhythm and your grain, which makes it incredibly manageable.
Michelle Cook
So um just going to Georgia. Reflecting back on your BAcc journey, what can you say about the workload?
Georgia – BAcc Student
It’s a very good question. I’m definitely not going to sugarcoat it coming from a third year, sir. I’ve been through two whole years of university online, not to mention, and I’m halfway through my final year. But as Michelle has mentioned, the workload is a bit more intense than the normal uni students. So as Michelle mentioned, we have to take five subjects instead of four. However, echoing what Sean said, we’re a very, very close knit cohort, everyone works together and supports each other, which is absolutely amazing. And it’s not something that you usually get out of a larger cohort, such as completing a Bachelor of Business, as you have to make friends yourself, and you’re likely as well to make individual notes. So it’s more timely rather than sharing notes. And this means it’s, you’re less likely to have the opportunity to create a larger study group as well, which is something that BAcc greatly facilitates, and we’re so lucky to be able to be involved in. I think, another benefit going off the workload of being in the BAcc program is that the benefits of the program itself, such as the industry experience, the connections you can make, um, severely outweigh the workload, taking additional subjects, etc, it’s just a matter of managing your time, and making sure that you do stay on top of your work, which is similar to the HSC. Um, you’ll be coming out of the HSC this year. So you’ll all have experience. And I guess, looking back, the workload definitely wasn’t as hard as I anticipated, and it was more than achievable. So if we can do it, any of you guys can.
Michelle Cook
And you’re doing very well. And Lauren and Hamish, how did you prepare for juggling multiple commitments while working? I think we have prepared you I should say.
Lauren – BAcc Alumni
uh, yeah, I think it was; by the time I had got into, you know, full time work. It was very much like BAcc had made me almost accustomed and acclimatized to be able to do a lot of commitments. So it got to a point where I was actually able to, you know, have my own personal commitments and prioritize so much better. And it just became the norm. And I feel like, I feel like you do like, as I’ve said already, you do have the support and you are able to the mentality and the culture, I suppose of BAcc really facilitates one where it’s it’s a competitive natured, but very high spirited, and very much motivating. And my peers 100% motivated me every day when I was in BAcc and I had them to lean on, we had assignments together. But it really made it quite enjoyable because we had we had each other like I said, I think that that’s that’s the key takeaway. And I think it probably sounds hard, like it sounds like it’s a lot to manage. But the way that the program is structured, it allows for you to really flourish in your internships because you have less workload for university. And in those University peak periods where you’re just focusing on uni, again, you have your support to your peer support to like help you get through it. So all manageable, so many people have come out the other end, so nothing to worry about.
Michelle Cook
True. We’ve had 800 go through. So that’s the truth. And Hamish, did you have anything to add to that?
Hamish – BAcc Alumni
Sure thing. Thanks, Michelle. And hello, everyone. So yeah, just just to add on what everyone’s been saying. So I think at various times throughout uni, I was a really involved member in two societies, studied four or five subjects at the same time. I had a casual job tutoring and I also volunteered once a week and as well as play sports, well, not competitively, not that much of a sportsman. But definitely I just socially as well. But yeah no, I definitely agree with what everyone has said, I think the old adage of work smarter, not harder, really comes into play with BAcc. So you’re always looking for opportunities to collaborate with others as as has been touched on. It’s a really small cohort of 30 people when you become really tight knit, so you’re just looking to leverage off from everyone. And just like maybe one person is really good at subjects that I’m not as good in and vice versa. So you can help tutor each other as well. So yeah, you really just help each other through it. And you definitely have time for those social commitments outside of uni once once you get your routine down pat. It isn’t just a shock to the system coming from high school, because you do have to have a bit more structure and whatnot but no, I think coming out of the BAcc program and into full time work now it’s prepared me really well. In fact, sometimes maybe the age because I’m just doing my one job and my part of the societies anymore so I’m really just able to focus my attention. But I certainly wouldn’t change anything when the involvements I was I did do during uni, um loved every minute of it. But it certainly prepares you really well to prioritize your tasks and also make time to rest and recharge yourself. So it’s equally as important.
Michelle Cook
Absolutely Hamish, and you know, that’s the things we so emphasize, like not only in your student life and BAcc, but really throughout your professional life, is how you do balance that and balance, we call it balancing all your different buckets. So your work bucket, your life bucket, your relationship buckets, and how do we make? How do we really try and develop those time management skills in yourselves.
So moving on, just quickly, let’s say I’m going to have a little look and we’re gonna discuss about course structure. So I’m also always asked, so is this, like, do we only do accounting? Well, there’s no you don’t, you do do other majors. And we’re going to get the students themselves to describe those. But to break it down a major is actually eight subjects. So in the beginning of your university course, besides the Fast Track subjects you do, you do all the core subjects. And those core subjects are very important because it gives you an overall breadth of knowledge of the business of business, like economics, etc, etc. So and then you can choose any other major. And it’s just to give you a better foundation or some knowledge into the industry. But you do do one major in accounting, which will be those subjects. So I’m going to ask Georgia, Sean and Annabelle,. Georgia, first of all, so University terminology, we go into that a lot. What what are you doing? And also, can you just break down that terminology of a major and a sub-major, etc?
Georgia – BAcc Student
Of course, yeah, I’ll write down the terminology first, just so everyone has a bit of an understanding of what I’ll talk about next. So I guess the key terminology comes down to majors, sub-majors and electives. So within a bachelor’s degree, you must complete a major. So this is simply a major area of focus in your studies. So as Michelle briefly mentioned before, a major consists of eight core subjects that are usually interrelated with one another in content, and they’re studied in sequence as well. So within the Bachelor of Accounting, you’ll take place in a compulsory major in accounting. So following the same principle, this will consist of eight interrelated accounting subjects, taking a step down is now a sub-major. So a sub-major consists of four subjects, which is half a major, clearly. And here, you can specialize in subjects such as finance, marketing, HR, management, and that sort of thing. Finally, the last piece of uni terminology is an elective. And basically, an elective is an individual subject that you can take the maximum number of electives, you can take within the Bachelor of Accounting program, and in any degree basically is for and this can range from subjects such as innovation, health, mathematics, and sciences. So that’s really, really great in that sense, as you can tell your degree, the rest of your degree, aside from the accounting major regarding sub majors and electives, to your personal preferences and interests. So now delving into my, I guess, uni life sort of thing. I’m actually taking my final accounting subject for my accounting major this semester. So that means previously, I’ve completed seven subjects in accounting, and I’m topping it off with my capstone this semester. I’m also taking place in a sub-major in finance. So that means and I’ve completed that one as well. So I’ve completed four finance subjects, which completes my sub-major. And then next semester, I’ll be taking place in four electives. So I’ve chosen electives that suit my personal preferences. So one of them’s in Management Consulting, one of them is in Aboriginal Studies. So I love learning about cultures and stuff. So I’ve decided to study that and a couple of them have to do with Marketing. So it’s really amazing that whilst back you do have to complete the compulsory major in accounting, which is extremely beneficial for anyone going out into the business workforce. You’re able to tailor the rest of your degree to suit your own personal preferences.
Michelle Cook
Yeah, absolutely. I mean, I think that’s one of the beauties of UTS is that flexibility of study, and the amount you can actually do, because learning is about pursuing your passions, as well as just, you know, trying to create your employability skills, and Georgia and Sean, sorry my apologies, Sean and Annabelle, do you know, what do you want to specialize in?
Annabelle – BAcc Student
I know, I definitely do. My main specialty that I want to go into is a sub-major of Business Innovation and Financial Management, that I feel like through this degree and having my accounting degree, I’ll be able to create accounting processes and financial operations, that creates efficiency in business and consumers to make more effective business. But yeah.
Michelle Cook
Well you will be the business doctor. So actually. And how about you Sean?.
Sean – BAcc Student
Yeah, well, currently, I don’t have a concrete idea of exactly what I want to do. My areas of interests are sort of around that finance area. But I think what will aid my decision making is really the internships that will be going on later in the year. And I think really getting that practical insight into industry will allow me to understand what I enjoy. And so then I’ll be able to tailor my degree towards those areas.
Michelle Cook
And it’s great to make an informed choice that way, too. Very beneficial, but we’ll we’ll go into internships later, everyone, so don’t worry about that. So I’ll just add Lauren, and Hamish like, what what did you choose? And why did you choose it? What do you enjoy about it; had to prepare you for a current role, just the whole gamut? What are your thoughts?
Hamish – BAcc Alumni
Thanks, Michelle. So I guess we did the major in Accounting, as it is a Bachelor of Accounting, I also chose to do a full major in Finance. And I really enjoyed my Finance major, especially the opportunity to do free elective subjects. So I did one elective in Derivative Securities, one in Ethics and the third one in Investment Banking. And I chose the full finance elective, mainly because, as Michelle was so rightly put at the start of the presentation business is fundamentally you’ve got to have more coming in, more money coming in, and money coming out. And that’s essentially what finance is right? Like a firm’s ability to raise and then allocate capital to generate a return on investment. So I really enjoyed the breadth of study in the Finance major, and especially the ability to specialize in areas which were more tailored to, I guess, like, where I was heading down a career path, for example, I landed a graduate role at Macquarie Group, which is an investment bank. So then I therefore chose to do an elective in investment bankers and like, oh, well, we, you know, learn all this and uni before I actually started role. And then also as well, I use my accounting major everyday as well as I work in Finance. So the other day, I got a question from the business about, Oh, can we like capitalize this expense? Or do we have to like expense it, you’re able to look at your notes, if you wanted to, from good old Accounting Standards and Regulations, one subjects in the accounting major exactly points you to, you know, double ASB 138, paragraph 57. Read outlines the six criteria, you need to, you know, that you need to be able to capitalize intangible assets. So it prepares you extremely well. And I’m always looking back to those subjects. And although it was my favorite subject of the time, definitely prepared me well, for the role I’m currently in.
Michelle Cook
I daresay a lot of the students online could agree that they do some subjects that maybe aren’t their favorite, but they just have to get through. And Lauren, I know you went in a different path for your major. Do you want to go through that?
Lauren – BAcc Alumni
Yeah, sure, I actually chose Business Law. So I was really keen to see the interrelation between law and accounting and kind of business, I think that both both laws and accounting are two things that no matter what industry, no matter what organization, you have, both of those are going to be very prevalent. So I was I was keen, just to get an understanding of, of how it links together and how to really structure my thoughts and structure within writing and, and be able to apply legislation and sort of understand the impact of it to a business. And that coupled with the accounting major is really set me up to prepare documentation, like board reports, for example, for some of my clients, so it’s been very beneficial.
Michelle Cook
And you know, I think, you know, it’s such a great mix between governance like ethics and also Accounting, which they’re very interlinked. So there is there’s so much you can do I know some students go on exchange, and as some of them are doing very unusual subjects. One subject in Italy is how to mix pasta sauces with correct pasta shapes. So there are many ways you can go in your learning with the course as well besides doing an accounting major. So life goes on beyond the classroom, everyone, as we all know, and the social component is so important, and I think that’s become even more prevalent during COVID. I think we really value connection and meeting people and becoming when we talk about a lot like the BAcc family, it’s so valuable for our students. And they keep mentioning, I think you will hear from the panel how close everyone is. But I think; so what we do to try and develop that we have camps that we have a program called, we’ve got your BAcc. Yeah, it’s like a dad joke I know; but it’s about a buddy program, so that there’s always someone there to assist you. We’ve now made family trees with that, where alumni are also involved, it just further your networks, and also all the the support structures you have. We have leadership development, the students have just had the BAcc Ball. So there’s so much to do, because we want to support you not only academically, but also mentally. And then with that to help your health and also personal growth. So we’re going to throw to Sean, Annabelle and Georgia. Anyone can jump in? Did you know anyone before starting?
Sean – BAcc Student
Yeah, well, personally, I knew a few boys who were in second and third year that had gone to my high school. So and I was also fortunate enough to have my sister who was also in the program at the time. And I think knowing people that are in BAcc was really valuable to me as just talking with them really aided my discernment in my decision making, and really convinced me that I wanted to actually do BAcc and make the most of it.
Michelle Cook
And how easy was it to make friends Annabelle?
Annabelle – BAcc Student
Oh, I personally knew no one in the program, except a past graduate. It was extremely easy. When on our drive to camp. We were going to Kangaroo Valley. And we had to carpool with someone else that made it really easy to make friends. And unfortunately, I live in up on the Central Coast. So it’s a four hour drive. I got hitched up with a few people. And it was a good little road trip and we got groceries on the way and listen to music. But it honestly is such an amazing bonding experience. I forgot their names about 50 times. But I can say they are my closest friends.
Michelle Cook
And yet no one really believes this when we say that. But it does happen to everyone. And Georgia, what would you say the benefits of such a close knit group?
Georgia – BAcc Student
Yeah, I definitely say the benefits of such a close knit group is the social element as on the screen; social life. It’s we all go out with each other not just individual year groups, like first years and first year, second and second years. But we all go out like and integrate with all the groups, all three year groups, even graduates such as with our BAcc Ball. All year groups are invited, including the graduate cohort that graduated the previous year. So all four groups are able to mingle with each other. And it provides a really, really fabulous sense of community, which is great. And something like a normal Bachelor of Business student wouldn’t get to experience they don’t get immersed within this 27 group of people. On the very first day of uni, you make such a great group of friends who will become friends for life, I can definitely say that I’ve met some friends who are like that will stick with me through years and years to come even if we don’t end up in the same graduate firms. But as I’ve also previously mentioned, and Hamish also briefly touched on note sharing, and studying collectively is also a major benefit of the BAcc program as your peers can help explain complex topics to you and vice versa. So it definitely makes uni a lot easier. And especially with the massive not the massive workload. But the enhanced workload compared to a Bachelor of Business student, as I previously said, it is it does take up a bit more time and does become a bit stressful at times. But you do have your community back family with you. And you’re always there to help each other out. So it’s fabulous.
Michelle Cook
And I think that was really made really notable by COVID that we did have you all had such a support network with you. You knew each other. It wasn’t like walking into just a great big cohort of people and not being able to speak to anyone or get assistance. But Lauren and Hamish I mean, you’ve been out for a bit of time now. How did you find the social component to uni? And do you still maintain the connections? After graduating?
Lauren – BAcc Alumni
Yeah. 100% So I found um I have very much been described as a social butterfly. And I think BAcc very much catered to that. So yeah, the social aspect of uni and uni in general, like I think UTS the university itself at UTS is is really great. And it’s designed for I think, collaboration, just the workspaces itself, the uni societies the the type of work and the you know, the way that tutorials and lectures around around it’s kind of very much tailored to that. And so yeah, from a social side, you know, some of my best friends are still from those that I met at back and I speak to them very regularly. I actually have a two of them are going to New York very very soon. So I have a farewell on Saturday for them. Yeah. So there’s, there’s lots of it’s really hard because I think you grow together and you know, you’ve formed these, these relationships when you’re 18 years old, and then years down the track, and I hope for us to can’t be you, you really watch each other grow and do different things with life and careers. And so it’s been, it’s been amazing to watch my peers really flourish. And me, I’m looking forward to doing it more. But you know, absolutely loved the social side, there’s so many, there’s always something on every, every time and you really just have, you know, your BAcc sets as your crew to be honest. So it was good.
Michelle Cook
And what a fantastic network. across so many industries.
Lauren – BAcc Alumni
Yeah, across across grades as well. So it’s, you know, first, second, third, whoever you go through with the program and connections that will will probably last networks that will last for a long time in your career.
Michelle Cook
And how about you Hamish?
Hamish – BAcc Alumni
No, definitely, I’ve made some of my best friends in BAcc. So to illustrate with just one example, so I graduated at the end of 2020. And so mid last year about 12, or 13 of us went on a particularly memorable camping trip that I organized. And so we still got away together and everything. And to be honest, we don’t see each other enough, just because I guess, you know, people got CA study and other work commitments and whatnot. But no, we certainly make an effort to catch up. And I always love spending time, you know, even if it’s after work, getting dinner or whatnot, just catching up with the crew. And yeah, like when I think about plans, one of my friends owns like a burger truck. And unfortunately, how make a lot of the nights however, he is having a night off, so we can go and have like a steak night with five of us friends. So very much looking forward to that that’s in the works in the moment, the Facebook group that has been formed. So we’re making progress there. And I think you definitely certainly do manual connection, maintain your connections after graduating, and they help you on both professionally, and, and socially as well. So I can’t speak highly of that. And although I don’t speak to like everyone, like constantly in the 30 person cohort, like graduated with, and so on, you know, we’re all on great terms. And we always reach out for a coffee or whatnot. So although you might be like you’re really close friends that maybe you see a bit more often coming up, of course, you still have them furnished wrong network plus the other use as well, as we’ve briefly touched on. So that’s 90 people you’re in the same cohort with as you go for uni, they just have those connections going forward. And and yeah, you never know you made some random people are working with the ex as well. So it’s definitely a small world out there.
Michelle Cook
It is a small world when it comes to BAcc I agree totally. But in saying that you know, when talking about the workforce, we can’t forget about our sponsors, so our sponsors range across industries and sectors as we call different organizations. Do you know they’ve given over $50 million dollars to the program over 33 years, and just shows how significant their investment is in developing a pipeline of talent for industry. So with that, we also make sure that our students events are for sponsors, and also students where they can meet and further their professional networks. So we have awards night, welcome ceremonies, we have BAcc and Sponsor career only expos, there’s industry visits; in fact, the first years are going to guest lectures where they’re being addressed by some of the CEOs and CFOs of those companies. Just an amazing experience that I don’t think it happens in every university cohort. So all about students getting to know organizations and getting sponsors, getting to know their BAcc’s and also their go into preferential grad recruitment. So I think Hamish mentioned that once he got his position at Macquarie Bank, which they gave at the beginning of third year, then he could then tailor some of his subjects to maybe better suit his his I suppose, future career. So I mentioned so so what is your experience been like in networking events as first years, Annabelle and Sean?
Annabelle – BAcc Student
Ah, I think it’s been absolutely amazing. With the every Thursday, we have these events called guest lectures, and we sit in the room and we have guests from each one of these companies. And some of the most memorable ones for me was Dexus, those two lovely ladies coming from Dexus, and they presented with such an amazing presence in the room. And one of the most impactful things they said was no matter where you go in Dexus, you can always find a BAcc. Yeah. It just really hit me like how amazing BAcc is and how it can excel my career and me as a person. And it’s so exciting to go to all these events and other events that UTS runs. And I know for myself, I’m in Women in Business and they had a International Women’s Day luncheon and I was sitting next to Head of Financial Controls on one side and Head of Operations on the other side. I’m like, cool. I’m 18 and this is happening.
Michelle Cook
You’re six months out of school. Yeah. How about you, Sean?
Sean – BAcc Student
I’d very much agree it is an incredible opportunity to network with CEOs, CFOs of some of the most iconic companies in Australia, if you have a look there, I’m sure you’d notice and know a lot of the companies there and to be able to talk with the top managers from these companies, like, as she said, just fresh out of high school is just something that you won’t find anywhere else. And, you know, with the networking opportunities, you might think like these top managers, they’re being scary business people, but in reality, they’re really just there to have a chat, you want to learn about them, they want to know about you. And it’s just very easygoing, and very conversational. So I think it’s been certainly a highlight of the Bachelor of Accounting so far.
Michelle Cook
And how about you Georgia? You’re on your second internship, what’s your experience with sponsors? And how beneficial this is?
Georgia – BAcc Student
Yeah, so I think we’re definitely extremely fortunate enough to be involved in so many networking, and events that we don’t even have to organize ourselves. Michelle and Carin, are the driving forces behind this. They’re absolutely amazing when it comes to organizing, like networking opportunities and events. So we’re super privileged to be involved in this. But yeah, on top of what Annabelle and Sean have mentioned in second year, you will take place in graduate panels with all the sponsor organizations. And this is more of like an open forum where, unfortunately for 30 years now, and we have to do this all virtually because of COVID. But you can ask industry professionals questions about their daily work life, and learn more about them as people and how they have progressed in their career, which is absolutely amazing. Also, within all three year years, as well as when you graduate, so in your fourth year, we have a yearly welcome ceremony come graduate, the graduate cohort like I guess, yeah, they’re willing them. Yeah, here are all sponsors are also invited as well. So they celebrate mainly the new cohort of BAcc’s coming through. So this is a great time to connect with all sponsors, and really show your presence. But these events have been so beneficial for me, as it personally made me feel more confident talking to colleagues. During my second internship during the first internship, you’re a bit not on edge, but it’s a bit scary, you’re entering the business world for the first time, you’re not too sure what to wear, how to react, how to people, but I’m in your third year, you really build that confidence through these networking events. And as well as build your personal brand, which is something that we also emphasize and back a lot. So yeah, by all these events, they provide you valuable insights into your future careers as well in the business world. So it is something I’ll never forget and have been so grateful for to have at uni, and you will not get any experience like this through any other program other than BAcc.
Michelle Cook
And Lauren and Hamish did it help you in your career, like preparing for your career?
Lauren – BAcc Alumni
Yeah, definitely, I think it’s the little things that form the foundation of, you know, day to day operations for yourself. And it’s things like how you set up your day and how you prioritize tasks and how you interact with key stakeholders, which are skills that that you carry with you and that, you know, when I reflect on it, a lot of the things that I learned in my first internship, I still carry with me today and and bring out in my day to day operating like day to day networks and operations. And so it’s it’s a super important role in helping you complete your tasks and helping you to really grind out those day to day tasks and like not feel kind of pressured by the the new environment or whatever, because you’re already used to that environment. And that really sets you apart from, you know, other potentially other people that are sort of very new to the environment. And so having that edge on getting getting an understanding of the environment and how to work is very good.
Michelle Cook
So so true. And Hamish?
Hamish – BAcc Alumni
You know, definitely I think I’m funny, you touched on this Georgia actually, I still remember Michelle, your advice, going out to these industry visits, always match your belt and your shoes and don’t wear white socks. Even I still I still remember that advice because that was the first time I can dress into a suit and actually went into an office building, which, you know, it’s in movies and whatnot, but it’s definitely a different environment just being in one. So I think you just interactions with the sponsors and those industry visits really just helped prepare you just like you know, to help thrive in an office environment. So I’ve you know, just how to be confident when you’re going up to someone a bit more senior than yourself and ask them a question, and also how to show initiative as well. So say if you’ve got some sort of process you want to find out more about that impacts your accounts and you’ve actually reached out to business or reach out to these people for a coffee, and I guarantee you like nine out of 10 times and wouldn’t have to have a coffee with you. So I think just having that confidence, again to approach people is really good. And I think as well just be able to reach out and ask more about the companies for graduate roles as well. So I remember like I applied for several companies and yeah, no, but I’ve got great reception from the sponsors and they’re more than happy to to take a couple minutes to talk to you because you’ve learn about companies just from your website but its completely different talking to someone who actually works in the company day to day, and you’re able to sort of like, see, you know, what’s the boots on the ground, like what’s definitely like the day to day in this company. So it’s really beneficial and sponsors certainly play a big part in the student experience.
Michelle Cook
That’s so true. And they also, you know, in doing those coffee catch ups, and they really I think, help to mentor you through, which is quite amazing the investment they have in this program is quite incredible. So thanks for that.
And I know now we’ve been talking about internships; its been coming up all the time, because it is a huge component of this degree. So when you graduate from BAcc, you actually come out with one year of complete work experience. And how do you do that? Well, you have two industry internships for six months at a time. So in your first year, you will do an internship that will last from July through to December, in your second year, you will do an internship that will go from January through to July, that the important things about the internships is really crucial to develop as professional experiences, as has been mentioned so many times by the beautiful panel. So most of the universities will get, you know, in courses will only you’ll only be able to get six weeks. But because of our sponsorship base, it means that they offer you internships for a longer period of time, that can also eventually be put to your professional designation. But we can always go back into that a lot later. In, so six months out of school, you will get an apprenticeship in Accounting. That’s what I call it, because it’s all about learning at one of their sponsor organizations. And I think the beauty of BAcc is that it’s different to a Cadetship. In that, because of the breadth of sponsors we have, it means that you go to two different sectors. Now when we talk sectors, maybe do your first internship in Banking, the second might be done in Audit. So we do encourage you to go to different sectors and really learn the breadth of Accounting and see maybe where you fit in, or you don’t fit in. What do you like, what sort of really pushes your buttons because there is more than one type of accounting? And I think you should look at that really carefully. So when we look at Lauren and Hamish, where did you intern first? In your first and second year?
Hamish – BAcc Alumni
Yes. So in my first year internship, I interned at PwC Australia in the Audit division. And for the second internship, I was in Brookfield Properties so fantastic. Sorry. And yeah. Cool. Yeah. So I was gonna say, say at PwC as I said I worked as an assurance intern. And my main client was actually Westpac. So Westpac Banking Corporation, and yeah, it was an especially interesting year because it was 2018, and helping do the four year audit. And those are my remember, 2018 is the year of the Banking Commission. So definitely, really interesting time to be auditing them as a client. And yeah, and Brookfield as well as just doing general corporate and property accounting for their real estate investments.
Michelle Cook
And, Lauren, where did you intern first? And in your first and second?
Lauren – BAcc Alumni
Yes. So I was at EY, Ernst and Young doing Assurance as well. So audit for financial statements, which is basically making sure that what companies say they how much money companies say they made that they actually did make it so I was investigating the books. I didn’t know that until I got there. So and then I interned secondly, at Westpac in Statutory Reporting, so on the other side of preparing the reports that will then go out to shareholders. The question I think I had, when I was in your position was, you know, what would I actually be doing from a day to day internship perspective, and obviously, that will inform whether or not you want to apply for the BAcc scholarship, but to put to put in, in a nutshell, and you do many, many things, but you are you are very much an integral part of the team that you’re putting in, you’re not there to do coffees or you’re not there to, you know, assist with kind of the admin stuff, you are absolutely relied upon us support, you know, audit, for example, when I was in audit, I was looking at the cash balances. And so what that required me to do was go to bank accounts and make sure that the cash actually existed. So that’s the type of day to day work that you sort of get to do and you will absolutely be guided and led by your managers and by the teams within that organization. And then on top of that, you have a lot of the fun events and corporate stuff that, you know, is just an added bonus to be able to support you with your networking journey and understanding what kind of roles actually exist in the company that might inspire you to then want to chase them. So that’s why the internships in BAcc are so attractive because you’re able to not only prepare and build your skill set and your belt but also be able to figure out exactly what you want to do and it just is such a win win for you.
Michelle Cook
And I’m going to throw this to you as a surprise Georgia because you are in your second internship. Yeah. So where did you have you interned and what were the expectations of you as an intern?
Georgia – BAcc Student
Of course. So in my first year I interned at Coca-Cola Amatil, which is now Coca-Cola Europacific Partners. As both Lauren and Hamish have mentioned, that is a lot of responsibility when you go and you’re not doing coffee runs all the admin sort of work. No, definitely not. I was sitting basically, if you look at their CFO, I was sitting like, pretty close under the CFO, so you’re very high up there in the business. But in terms of responsibility that you were given, and how to like manage it, all that sort of stuff, all your BAcc’s will also be going through the same like process at the exact same time. So it’s an important time to communicate with one another, and support each other through the process. Because, of course, I had no prior business experience before entering into my internship at CCEP so, yeah, it’s, you get thrown in the deep end, which is what BAcc is, I wouldn’t say it’s all about doing that. But it’s a great learning experience. And you have to make sure that you immerse yourself as much as possible to get the most out of it. So yeah, I really enjoyed it. And I’m currently at PWC and also enjoy that as well. So both FMCG industry and auditing at the moment, so completely different, but they’re both amazing. And any sponsor, if you do become part of the BAcc program you get placed in is absolutely incredible. And the amount of experience and knowledge you gain out of it is unlike any other.
Michelle Cook
So I’ll need to jump along with here just in the interest of time, which I just sort of oh, goodness me. So how do you apply it. So we have a quite a rigorous application process. We have online interviews we have so we have an online application, then we have interviews and a group assessment, we’ve been really lucky because we have made sure that we try very hard to make sure interviews and group assessment is done face to face. So not online, because we want to meet you, and we want you to meet us as well. And the online assessment is just an application, when and also the interviews with a panel and the group assessment, which sounds scary. It’s just meeting up with four people and having a discussion on how you solve the problem. Because we’re looking for passionate people in business with a real genuine desire to pursue a career that is accounting based. So people alwasy say Michelle – what are you looking for? Well, I think to try and sum it up, we want people centric people, we want good communicators. We want people with good at great interpersonal skills, team capabilities, as well as the ability to think analytically and critically. And we look for engagement beyond the classroom. So not just your grades, we want to see what you’ve done in your community, or in your sporting life, the things that make you you is the most important thing to us. I also say every year and it’s true, one of the most important things we look for are nice people, because then you will always get on with anyone around you. And you will really contribute to corporate life. So entry is by interview and people, not ATAR. So we want to see your leadership skills, it’s all there in the in the online application. And then successful interviews will be made an offer, after ATAR results come out. So people say well, what is the ATAR cut off? Well, this isn’t one, because ATAR, it’s the interview the group assessment, what you’ve shown us in that realm. And then after that, we look at ATAR to have the final determinant. So if you do really, really well in your group assessment, really, really well in your interview, then you will be given a conditional offer, and then the top ATARs in that conditional offer, I’ve given a place in the program. So that’s why there is no real cutoff point. So really quickly, Annabelle or Sean, how did you find the application process because I know it sounds scary.
Annabelle – BAcc Student
Oh, I was a bit freaked by the application process start off. But I do think the number one thing with it is chip at it day by day and write something that best reflects you and be yourself in the application process. If you’re a complex person, show that in what you write if you’re a simple person who puts their best foot forward show that in what you write, but you’ve honestly got to put your best foot forward and be yourself throughout the whole process. No matter what you do. No matter what you write. If you put in your grades, what you’re doing work experience or community experience. Just be yourself and show them who you really are. And that way we can see who you are and the right people get into the program.
Michelle Cook
And Sean, what advice would you give to prospective students looking to apply this year?
Sean – BAcc Student
I’d say definitely, if you have an interest in that accounting/finance/business area, just do it, you have nothing to lose by applying for the Bachelor of Accounting, and yet you have everything to gain. It is such an incredible course. And I’m so grateful for it. And yeah, absolutely. If you’ve got the interest if you’ve got the motivation, just go ahead and do it. You will not regret it at all. So yeah,
Michelle Cook
Absolutely. Because um no it doesn’t hurt but not applying is like, I want to win lotto, but I haven’t got a ticket yet. Yeah, totally. So I’m gonna throw this just really quickly to all of you. Why did you choose to apply and accept a position in the BAcc program? Maybe we’ll start with Lauren.
Lauren – BAcc Alumni
Hello, yes. Why did I choose? So thinking back, I chose to apply for BAcc because when I saw the sponsors, I was really blown away, I thought, well, I knew I knew, like, a lot of them were very familiar companies as they would be to you. And I thought, I’d love to have the opportunity to work with them. And they’d set me up for my career, and they absolutely have. But reality when I fast forward to that, and I know we’re short on time, so I’ll keep it quick. But when I fast forward that, I think, actually, while it’s a little that happened and was true, it was the long standing relationships, and the fact that it made me better at my interpersonal relationships. And just and, you know, it taught me a lot about like, a lot about everything like about humility, and the importance of just being a nice person, etc. Like, if you take one thing away from the session, it’s really that like, they show yourself like we’ve said, but, but remember, at the end of the day, that everyone is just kind of human and like, and, and what this is doing is very much a development course for yourself. And I wish like, I think I wish I had known that that was that would actually be the benefit rather than oh the fancy, you know, companies that would be on my CV, like, that’s the truth. So very, very forever grateful for BAcc has absolutely shaped who I am and my career. So I 100% would recommend it. And you should definitely apply tonight – if they’re open.
Michelle Cook
It is. Would anyone else like to comment on that? Why did you choose to apply and accepted position in BAcc?
Hamish – BAcc Alumni
Definitely Michelle. So I actually found the BAcc course in one day is really thick UAC booklets that you get that list of university courses Australia, because my school didn’t promote the course. But I saw it said like something like leading business course in Australia, like, wow, that looks really interesting. And when you see that line, plus a scholarship, plus the one years work experience, plus you can do this all in three years, and you come out with some great friends. Like it’s it’s a no brainer, really. So I’m just really thankful that, you know, I found that ad that I actually went through and put my application in because to be honest, I wasn’t sure if I would get in. So I definitely would echo what Michelle said, you know, just have a crack put your application in, because you never know what’s going to happen. Right? And I think, yeah, yeah, I think you don’t Don’t sell yourself short. So you’re coming out of the program, as Lauren said, yeah, you definitely do have some great names on your CV, but you’ve got friends for life, and you’ve got a really good you know, social skills and network, especially go out there and succeed in the business world. So no, I think if you want to do the leading business course in Australia, this is it. So definitely find your application. And you know, be good to see everyone there.
Michelle Cook
And Georgia what made you choose?
Georgia – BAcc Student
Yeah, I basically just chose BAcc due to the work integrated learning style of the program. So the one year’s worth of work one year’s worth of work experience, which is basically given to you, which is absolutely amazing. You don’t have to take it yourself and knowledge you gain from completing that one year’s worth of work experience is invaluable. You’ll use it for the rest of your life, which is really important. And I guess why I decided to accept it was I knew I wanted to throughout the whole of Year 12. So when it came up and a position arose, I accepted it straightaway on the phone as Michelle would echo. I was extremely excited and couldn’t have accepted it sooner on the phone.
Michelle Cook
And just all of you in very briefly if you had the chance to tell your HSC self about BAcc what would that be? Really quickly. Just a couple of words. Let’s start with Annabelle.
Annabelle – BAcc Student
I know for myself when I did get the call. I know this is a bit longer than a few words. But I was absolutely blown away. And I wish I would have just told myself to believe myself more and to say I do deserve to be in this program.
Michelle Cook
Thank you, Sean?
Sean – BAcc Student
Yeah, I’d say definitely for my year 12 self keep the balance, be involved in all the community service, all the sports, all the teamwork and leadership things as well as the academics. You need the balance you need the mix and the hard work pays off in the end of the day. So yeah.
Hamish – BAcc Alumni
I was gonna say what Sean said as well, but also as well, you know, like you put in so many hours into your HSC, but it’s great to see the end result as well. So you know, it’s one extra reward, I can go back and say like, you know, just keep on writing those essays. They’re gonna come towards something and then you know, connect because we’re always social life and balancing too. So, no, it’s absolutely just such a great motivation. And it’s important. Yeah, exactly.
Michelle Cook
And Georgia,
Georgia – BAcc Student
Yeah, I basically just say every opportunity that you don’t take is a missed opportunity. So why not apply?
Michelle Cook
And last but not least, Lauren,
Lauren – BAcc Alumni
I’d say that it’s going to provide some of the most transformative years of your life. So, you know, just have fun with it really.
Michelle Cook
Thank you so much to everyone. And really, it is a life changing, and a life empowering decision that you make if you do get an offer. And I mean, I think you know, just to recap, just even the ability to design your degree, as you would like to do it beside having an accounting major, and then really developing yourself in that is just an amazing thing that UTS does offer.