How an honours year in Accounting sets you up for future success
Monash Business School Accounting Honours student Theresia Sudjati.
Successfully completing an honours degree is a great way to boost your undergraduate qualifications to enhance your future career.
The Honours program enhances one's analytical, communication and project management skills.
Further, regardless of whether you work in industry or continue in research, it allows you to demonstrate your resilience and high academic achievements to future employers.
Theresia Sudjati chose to do an honours year in accounting when she was at a crossroads after finishing her undergraduate degree.
She found herself unsure of whether to pursue a career in research or find a job in industry.
“Industry values an honours degree because it’s rigorous,” Ms Sudjati said.
“There’s a lot of research and it shows resilience for self-learning. I also learned invaluable transferable skills like statistical analysis, project management, communication, and presentation skills.
The Honours program is also a great way into a PhD, she said.
What’s the structure of the honours year?
In the first semester of the honours year, students acquire expertise in three of four sub disciplines of accounting research, namely: accounting information systems; auditing and assurance; financial accounting; and/or management accounting.
The second semester of the honours year is dedicated to completing a research project that is chosen by the student and supervised by highly experienced academic staff in the department.
Students become very familiar with statistical analysis, or how to conduct a field study or behavioural study through running an experiment.
For Ms Sudjati, the honours year meant she was able to continue with a PhD in financial accounting.
Foundation for PhD studies
“In the Honours program you are invited to explore a lot for yourself. I like work that requires finding information and analysing it. Part of the journey is examining options and different answers for yourself.”
“I love how it really set me up for a PhD.”
Currently she is in the final stages of her PhD and once again, considering what to do next.
Ms Sudjati said she had enjoyed teaching during her honours and PhD years, but now wanted to explore working in industry.
“It’s definitely a good option. It’s hard and the workload is high, but it is very stimulating and rewarding,” she says.
The lecturer’s perspective: Honours is all about the ‘why’
Senior Lecturer Dr Mehdi Khedmati, the Honours Coordinator in the Department of Accounting, stressed that the honours year is all about thinking critically and questioning current practice.
If undergraduate study is all about how things are done, the honours program is all about the why, he said.
“During the honours year the students really get the research component which many of the big banks and consulting firms find attractive,” he says.
“During a Bachelor's Degree in Accounting, they get all the technical skills; in honours, they really learn research skills.”
“This also sets them up to transfer to a PhD if that is where their interest lies.”
Every year, students are encouraged to take part in the National Honours Colloquium with other accounting students from the top universities in Australia.
Students present their research in front of a panel comprising industry and academia and in doing so gain valuable insight into current accounting topics. They also have the opportunity to network with representatives from industry.
“The colloquium provides a great opportunity for everyone to network and meet future employers," says Dr Khedmati.
"Many of our students go on to work for the regulatory bodies, including the Australian Accounting Standards Board (AASB) and Auditing and Assurance Standards Board (AUASB), as well as CPA Australia, Big four accounting firms, banks and financial institutions, consulting firms, and many more."