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Unit of Study ACCT1002 - Financial Accounting (2023)

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Unit Snapshot

  • Enrolment information

    N/A

Unit description

Provides an introduction to accounting systems and processes with a focus on recording routine business transactions, the preparation of financial statements and the use of accounting information to make business decisions in a variety of business contexts. The unit presupposes no prior knowledge of accounting. It provides the foundation knowledge and core skills for the upper level accounting units and equips other business majors with essential accounting tools.

Unit content

Module 1:  Introduction to the role of accounting

Module 2:  The accounting equation

Module 3:  Accounting for retail operators including GST and reporting and analysing inventory

Module 4:  Internal controls, cash and receivables and non-current assets

Module 5:  Liabilities and equity

Module 6:  Statement of cashflows, analysis and interpretation

 

Availabilities

Location Domestic International
China - TUST N/A
Dual Term2
Gold Coast
Term1,3
Term1,3
Melbourne N/A
Term1,3
Online
Term1,3
Term3
Papua New Guinea - IBSU Port Moresby N/A
Term1
Perth N/A
Term1
Sydney N/A
Term1,3

Learning outcomes

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:

describe the key characteristics and underpinning theoretical principles of the regulatory framework that govern the measurement and disclosure of accounting information.

apply routine accounting concepts and principles for recording business transactions using accrual accounting, double entry system and accounting software to produce financial reports.

prepare and interpret the four key financial statements using tools and techniques for decision-making purposes from a multiple stakeholders’ perspective.

analyse and describe the role of internal controls in the context of a business’s operating environment.

Prescribed learning resources

Prescribed Texts
  • Carlon, S, McAlpine, R, Lee, C, Mitrione, L, Kirk, N & Wong, L, 2021, Financial Accounting: Reporting, Analysis and Decision Making, 7th edn, John Wiley and Sons Australia, Brisbane. ISBN: 13: 9780730395294, 10: 0730395294.
Prescribed Resources/Equipment

  • Students need access to a computer with a webcam and reliable internet connection, and will be required to complete an onboarding process to verify their identity before attempting the online exam in this unit. (This does not apply to IBSU (PNG) and TUST (Tianjin) students.)

  • MYOB practice set for assessment item 3 – small additional cost.  Details and instructions for accessing the practice set can be found on MySCU (Blackboard).

     

Prescribed Texts
  • Australian paperback edition: Carlon, S, McAlpine-Mladenovic, R, Palm, C, Mitrione, L, Kirk, N & Wong, L, 2018, Financial Accounting, 6th edn, John Wiley & Sons Australia, Brisbane. ISBN: 9780730363279.
  • Available in e-Book format: Carlon, S, McAlpine-Mladenovic, R, Palm, C, Mitrione, L, Kirk, N & Wong, L, 2018, Financial Accounting, 6th edn, John Wiley & Sons Australia, Brisbane. ISBN: 9780730356141.
Prescribed Resources/Equipment

  • MYOB practice set for assessment item 3 - small additional cost. Details and instructions for accessing the practice set can be found on MySCU (Blackboard).

Prescribed Texts
  • Carlon, S, McAlpine, R, Lee, C, Mitrione, L, Kirk, N & Wong, L, 2021, Financial Accounting: Reporting, Analysis and Decision Making, 7th edn, John Wiley and Sons Australia, Brisbane. ISBN: 13: 9780730395294, 10: 0730395294.
Prescribed Resources/Equipment

  • Access to a computer with a webcam and reliable internet connection.

    All students (except TUST) will be required to complete an onboarding process to verify their identity before attempting the online exam in this unit.

  • MYOB practice set for assessment item 3 – small additional cost.  Details and instructions for accessing the practice set can be found on MySCU (Blackboard).

     

Prescribed Learning Resources may change in future Teaching Periods.