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Unit of Study LEGL2005 - Legal and Conveyancing Practice (2021)

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Unit Snapshot

  • Enrolment information

    N/A

Unit description

Introduces students to the rules, regulations and practices applicable to managing a legal or conveyancing practice with the emphasis on office and trust accounting.

Unit content

Part A: Accounting fundamentals
Topic 1: Introduction to financial management and accounting
Topic 2: Accounting to trial balance
Topic 3: Special transactions
Topic 4: Financial reporting
Topic 5: End of period adjustments
Topic 6: Computer accounting systems, taxation and managing financial risk

Part B: Trust accounting
Topic 7: Introduction to trust accounting
Topic 8: Records and books of accounts
Topic 9: Controlled money
Topic 10: Cash books
Topic 11: Bank reconciliations
Topic 12: Journals and ledgers in legal trust accounting

Availabilities

Location Domestic International
Online
Session1
N/A

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:

identify the relevant legal and book-keeping requirements involved in the financial management of a legal services practice.

demonstrate knowledge of basic accounting principles and concepts, and the application of these principles.

apply the theory by the practical application of compliant trust accounting practice in accordance with the requirements of the Conveyancers Licensing Act 2003, the Conveyancers Licensing Regulation 2006, the Legal Profession Act 2004 and the Legal Profession Regulation 2005.

Prescribed learning resources

Prescribed Texts
  • No prescribed texts.

Prescribed Learning Resources may change in future Teaching Periods.