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Unit Summary
Anti-requisites
ACC00700 Basic Business Accounting
Unit aim
Introduces students to knowledge of accounting processes, from recording transactions in journals and ledgers to preparing financial statements; enhances students' ability to apply their knowledge in a real business setting; and develops students' ability to exercise professional judgement and communicate information concerning business practices with stakeholders.
Unit content
Topic 1 Introduction to financial accounting
Topic 2 Recording transactions in the accounting cycle using double-entry accounting
Topic 3 Accounting for business operation I
Topic 4 Accounting for business operation II
Topic 5 End of period processes
Topic 6 Statements of cash flows
Topic 7 Analysis and interpretation of accounting information
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: | |
|---|---|
| 1 | apply the concepts of double entry accounting, accrual accounting and accounting cycle in complex business structures |
| 2 | analyse business transactions of different types of businesses, after recording transactions within accounting processes and systems |
| 3 | interpret financial information with critical evaluation in order to communicate with stakeholders effectively |
| 4 | implement internal control, generally accepted accounting principles and regulatory framework that govern the measurement and disclosures of accounting information. |
On completion of this unit, students should be able to:
- apply the concepts of double entry accounting, accrual accounting and accounting cycle in complex business structures
- analyse business transactions of different types of businesses, after recording transactions within accounting processes and systems
- interpret financial information with critical evaluation in order to communicate with stakeholders effectively
- implement internal control, generally accepted accounting principles and regulatory framework that govern the measurement and disclosures of accounting information.
Prescribed texts
- Hoggett, J, Medlin, J, Chalmers K, Beattie, C, Hellmann, A & Maxfield, J, 2021, Financial Accounting, 11th edn, John Wiley & Sons Australia Ltd, Milton, Australia.
- Hoggett, J, Medlin, J, Chalmers K, Beattie, C, Hellmann, A & Maxfield, J, 2021, Financial Accounting, 11th edn, John Wiley & Sons Australia Ltd, Milton, Australia.