Accounting
Objectives
- To introduce students to fundamental accounting tools so as to provide a basis for analysing and interpreting financial statements and internal management documents throughout their careers.
- To provide information for decision-making and allow students to become intelligent users of financial as well as non-financial information.
Course outline
Semester 1 topics include:
Understanding basic accounting concepts
- Process of capturing information in the accounting system
- Use of accounts, journals and ledgers
Summarising and reporting accounting information
- Balance sheet
- Profit and loss account
- Assets
- Liabilities
- Owner's equity
- Revenue
- Expenses
The measurement of profit
- Significant balance sheet and profit and loss account relationships
Nature and Valuation of Inventories
- Use of different accounting methods for inventory as used by real-world businesses
Semester 2 topics includes:
Controlling cash transactions
Nature and calculation of depreciation
Company formation
Partnerships
Financial statement analysis
Assessment
Continuous assessment including:
- Tutorial performance and attendance 10%
- Essays 2 x 5% 10%
- Assignment 10%
- Exams 2 x 35% 70%
Class hours per week
- 1 x 1.5 hour lecture
- 1 x 1.5 hour tutorial
Required texts
- Horngren et al. (2007), Accounting (5th ed.), Pearson Education Australia
- Quickbooks Pro (2006), To be advised in class