RMIT/University of Accounting Global Intensive (Europe/USA Study Program)

Study program destination: of America and Europe (San Francisco, Washington DC, New York City, Berlin, London) Eligibility: Undergraduate/Postgraduate Date of overseas program: 19 November – 04 December, 2017 (excludes travel to and from Melbourne)

Objectives: The program offers a unique opportunity to travel, study and gain access to a range of leading business and regulatory leaders in the United States and Europe. Students will gain invaluable insights into, and expand their knowledge of, international business and accounting practices. The development of interpersonal skills and self-confidence in presenting to, and speaking with, hosts is an additional benefit of participation in the program.

Features: • A fully escorted international study program visiting three countries, five cities and eleven professional organisations. • An experiential education program that has no equal domestically or internationally with cross- continent travel, prestigious host organisations and comfortable travel and accommodation throughout the program. • Hospitable and enthusiastic host organisations and the opportunity to meet with key executives in the manufacturing, service and financial sectors as well as regulatory bodies. Outstanding large corporate hosts include Paypal and Johnson & Johnson in the US; Axel Springer and Volkswagen in Germany; IAH (Intercontinental Group), Farfetch, Control Risks and Whitbread/Costa Coffee in the UK; as well as the Securities and Exchange Commission in Washington DC and the International Accounting Standards Board in London. • The opportunity for private travel at the conclusion of the study program, commencing from New York. Country Profiles: The United States of America (USA) has the world’s largest national economy and is home to some of the largest corporations in the world. Participation in this global intensive provides unique insights into the operations of a number of large USA corporations, as well as regulatory bodies responsible for the oversight of US corporate accounting practices (specifically, the Securities Exchange Commission). Germany is the largest national economy in Europe and a founding member of the European Union (EU), the G8 and the G20. In 2016, 28 of the world's 500 largest stock market-listed companies measured by revenue, the Fortune Global 500, were headquartered in Germany. The United Kingdom (UK) has the 6th-largest national economy in the world, and the 3rd-largest in Europe, measured by nominal GDP. The UK is one of the world's most globalised economies, and is currently the fastest growing of all major developed economies. The headquarters of the International Accounting Standards Board (IASB), responsible for the promulgation of International Financial Reporting Standards (as used in Australia, the EU and many other countries worldwide) is located in London, UK.

Academic Content: Participants enrol in a 12 credit point elective, ACCT2190/2191 (Understanding Global Accounting Practices through an International Study Tour). The program will provide students with exclusive insights into the operations of a number of large national and multinational corporations located across three countries and two continents, through presentations by and discussions with key executives. Visits to the Securities Exchange Commission in Washington DC as well as the International Accounting Standards Board in London will provide students with a first-hand opportunity to compare and contrast the practice and regulation of business generally, and more particularly accounting, in Australia, Europe and the USA. Program participants will gain valuable insights into international business and accounting, including the issues and challenges faced by the IASB, such as the IASB-FASB convergence project and the implications of “Brexit”. Assessment for the elective includes a primer of host organisations, case study assignment, participation and a reflective journal plus poster.

Eligibility: The study program is open to all RMIT business students (both undergraduate and postgraduate) who meet the following eligibility criteria: • You should have completed at least one Accounting course in your current, or in a previous, program of study • You must be enrolled in an Undergraduate or Postgraduate program at RMIT • If you are an international student, you must NOT be in the last semester of studies before the Global Intensive (Sem 2, 2017) • If you are an undergraduate student, you must have completed or achieved the equivalent of at least one semester of academic study at RMIT at the time of application deadline (36cp FT/12cp PT) – note this requirement does not apply to postgraduate students • You must have at least one general elective available in your program plan (12cp) • You must not be at Second Stage ‘At Risk’. The program runs in partnership with . Places on the program are limited to 18 students from each university.

How to Apply: The application form is available from the RMIT Business Study Tours website: http://outbound.rmit.edu.au/index.cfm?FuseAction=Programs.ViewProgram&Program_ID=11442 The closing date for applications is Friday 01 September, 2017 (Australian passport holders) or Friday 18 August, 2017 (international passport holders). Note: Applicants will be assessed on a first-come-first-served basis. Once the maximum number of offers has been made, other eligible applicants will be placed on a waiting list and may be offered a place in the event of cancellation/withdrawal by another student. NB: Upon acceptance into the program, a deposit of $750 must be paid directly to the program’s travel arranger, Global Study Connections, within 3 business days. The balance of the program’s cost is payable by 15 September, 2017. Cost: The total cost is approximately $8,010 which includes tipping and insurance (as at 18 July 2, 2017) per person (excluding course tuition fees). The cost includes all air and land travel, transfers from airport to hotels, site visits, accommodation booked on a twin share basis in Superior 4-star hotels (double room for single use supplement is available at an additional cost of $1,775), breakfasts daily and specified sightseeing and meals, tipping at hotels and arrival porterage. Nationals of foreign countries, depending on their origin, may have to apply for entry (visa) permits to travel destinations proposed in the itinerary. Foreign nationals should contact the travel management company for further clarification and applicable costs for securing such permits. Australian passport holders are not required to attend to any visa requirements. Deposit and Payment Options: Upon acceptance into the program, a deposit of $750 must be paid within 3 business days to Global Study Connections (GSC). The balance of the payment must be paid by 15 September, 2017. Cancellations before final payment will incur a penalty of approximately $695. Cancellations after final payment will be determined in accordance with the general cancellation conditions issued by GSC. Tuition Fees: The program incurs standard tuition fees (not included in the cost above). Students enrolled in a Commonwealth supported place may defer payment of the tuition fee portion only. Scholarships & Financial Assistance: OS-HELP: Domestic Commonwealth-supported (HECS) students may be eligible for OS-HELP (up to $6,567) to assist in covering the cost of the program. Information is available at: http://www1.rmit.edu.au/scholarships/os-help Transportation: International flights are with Qantas and British Airways; San Francisco to Washington on United Airlines. Ground transportation is by fully air-conditioned and heated tour coach services where applicable. Additional Sightseeing and Meals: The study program price includes organised half-day city sightseeing programs in San Francisco, Washington, Berlin and London; as well as Welcome Dinner in San Francisco, Light Lunch while on sightseeing program and Dinner in Berlin, and Farewell Presentation Dinner in New York. Program Leader: Laurie Webb was previously a Senior Lecturer in the School of Accounting at RMIT University. He has been leading study programs to North America and Europe annually for the past 24 years. He has established extensive international relationships with industry, regulators, academia and the accounting bodies. Laurie has spoken about his experiences at the American Accounting Association Conference in Los Angeles and published in the UK journal Accounting Education (2009). Academic Coordinator: Peta Stevenson-Clarke is a Lecturer in the School of Accounting at RMIT University where she teaches Financial Accounting Theory. She received the RMIT/KPMG Acclaimed Educator Award in 2013. In addition, Peta researches in areas as diverse as corporate governance, financial reporting, accounting education and accounting history, and she has published more than a dozen journal articles and book chapters in these fields.

Information Sessions: • Monday 07 August, 2017 at 11:30 (Room 80.09.007) • Tuesday 08 August, 2017 at 18:30 (room 80.07.006) • Wednesday 09 August, 2017 at 14:30 (Room 80.07.006) • Friday 11 August, 2017 at 17:30 (Room 80.03.014) • Wednesday 16 August, 2017 at 15:30 (Room 80.03.014)

Further information: Dr Peta Stevenson-Clarke (Academic Coordinator) Laurie Webb (Program Leader) Phone: 9925 0363 Phone: 0409 524 984 Email: [email protected] Email: [email protected]

Travel Management Company: Global Study Connections (Division of Holidays On Location Pty. Ltd.) Tel: 03 9851 8747 Fax: 03 9851 8720 Email: [email protected] T/A Licence 30186 ABN 52 005 586 121