This subject introduces students to fundamental accounting tools to provide a basis for analysing and interpreting financial statements and internal management documents throughout their careers.

The educational philosophy used is based on the 'building blocks' approach (The Accounting Cycle), a sequence of steps or procedures related to a firm's accounts and account entries, which culminates in the ultimate objective of financial reports.

Course outline

Semester 1

  • understanding basic accounting concepts
  • summarising and reporting accounting information
  • the measurement of profit
  • special aspects and application of decision-making

Semester 2

  • accounting for accounts receivable and bad debts
  • alternative inventory valuation models
  • Goods and Services Tax (GST)
  • valuation of non-current assets; financing decisions
  • accounting for partnerships and companies
  • ethics and its relevance to business
  • financial statement and ratio analysis
  • management and manufacturing; application of costing the cash-flow statement


Assignment: 10%
Attendance and participation: 10%
Exams: 70%
Reports: 10%