Objectives
This subject introduces you to fundamental accounting tools to provide a basis for analysinig and interpreting financial statements and internal management documents throughout your career. 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 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
Assessment
Attendance and participation: 10%
Reports: 10%
Assignment: 10%
Exams: 70%