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 


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