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Unit of Study ACC00151 - Financial Accounting (2014)

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Unit Snapshot

  • Pre-requisites

    (ACC10707 - Accounting for Business
    OR ACC10249 Financial Information for Decision Making OR ACC00150 Using Financial Information) AND 36 credit points in any SCU units

  • Anti-requisites

    ACC00143 Accounting Principles and Practice

Unit description

Serves as an introduction to accounting as a discipline and a career, using a problem-based learning approach to develop students' skills in efficiently recording and reporting business transactions within a manual financial accounting system, supported by electronic tools such as spreadsheet software.

Unit content

Topic 1 On becoming a contemporary accountant

Topic 2 The accounting information system and its transaction cycles

Topic 3 Record-keeping systems for a retail business

Topic 4 Processing transactions in the acquisition and expenditure cycle (including payroll)

Topic 5 Processing transactions in the revenue and collection cycle

Topic 6 Processing transactions in the general ledger and financial reporting cycle

Topic 7 EOP processes and financial statements - general ledger and financial reporting cycle

Topic 8 Statements of Cash Flows

Availabilities

Location Domestic International
Coffs Harbour Session 1 Session 1
Gold Coast Session 1 Session 1
Lismore Session 1 Session 1
Online Session 1,  3 Session 1,  3
Papua New Guinea - IBSU Port Moresby N/A Session 1
Sydney N/A Session 1

Learning outcomes and graduate attributes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

On completion of this unit, students should be able to:

GA1: Intellectual rigour, GA2: Creativity, GA3: Ethical practice, GA4: Knowledge of a discipline, GA5: Lifelong learning, GA6: Communication and social skills, GA7: Cultural competence
Learning outcome count Learning outcome description GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 apply manual double-entry accounting principles to transactions (including GST), using worksheets, general and subsidiary ledgers, and general and special journals, through to preparation of an Income Statement, a Statement of Changes in Equity, a Balance Sheet, and a Statement of Cash Flows in internal format
2 prepare working papers for repetitive financial accounting tasks, both manually and using Microsoft Excel spread sheet software
3 use the language of business to communicate financial accounting information with stakeholders both orally and in writing, demonstrating efficient and effective use of Microsoft Word processing software and Microsoft PowerPoint presentation software
4 apply academic knowledge and skills to new contexts including workplace settings
5 demonstrate the ability to work collaboratively on a group task
6 analyse and reflect on the learning experience and articulate that experience in a learning journal

On completion of this unit, students should be able to:

  1. apply manual double-entry accounting principles to transactions (including GST), using worksheets, general and subsidiary ledgers, and general and special journals, through to preparation of an Income Statement, a Statement of Changes in Equity, a Balance Sheet, and a Statement of Cash Flows in internal format
    • GA4:
  2. prepare working papers for repetitive financial accounting tasks, both manually and using Microsoft Excel spread sheet software
    • GA4:
  3. use the language of business to communicate financial accounting information with stakeholders both orally and in writing, demonstrating efficient and effective use of Microsoft Word processing software and Microsoft PowerPoint presentation software
    • GA4:
    • GA6:
  4. apply academic knowledge and skills to new contexts including workplace settings
    • GA4:
    • GA5:
  5. demonstrate the ability to work collaboratively on a group task
    • GA6:
  6. analyse and reflect on the learning experience and articulate that experience in a learning journal
    • GA5:

Prescribed learning resources

Prescribed Texts
  • No prescribed texts.

Prescribed Texts
  • No prescribed texts.

Prescribed Learning Resources may change in future Teaching Periods.