Accounting for Success
Overview
This unit introduces students to the language of accounting, its nature and main functions. This includes understanding and applying the basic rules and principles that guide the accounting process, and developing skills to identify relevant revenues and costs for decision making. Students will learn how to identify, measure and communicate financial information to inform judgements and decisions. This unit is an essential foundation and preparation for continued study for students who intend to take further units in accounting. The experience gained will provide familiarity with the key concepts and principles underlying the practice of accounting and be useful to a future business career.
Requisites
27-September-2024
31-January-2025
Learning outcomes
Students who successfully complete this unit will be able to:
- Use balance sheets to explain the financial position of a business
- Prepare income statements to measure financial performance
- Support business cash management using cash flow statements and cash budgets
- Interpret financial statements and provide advice that supports sound financial decisions and strategic aims
Teaching methods
All Applicable Locations
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
Face to Face Contact (Class 1) |
2 | 12 weeks | 24 |
| Face to Face Contact (Class 2) | 3 | 12 weeks | 36 |
| Unspecified Learning Activities (Independent Learning) | 7.5 | 12 weeks | 90 |
| Total | 150 |
Assessment
| Type | Task | Weighting | ULO's |
|---|---|---|---|
| Case Study | Individual/Group | 20% | 2,3,4 |
| Report | Individual/Group | 20% | 1,2,4 |
| Test 1 | Individual | 30% | 1,2 |
| Test 2 | Individual | 30% | 3,4 |
Content
- Introduction to business and the role of accounting information in the decision-making process.
- Financial reporting – introduction to recording business transactions.
- Recording and reporting business transactions using accrual accounting. Cash Flow Statement and cash accounting.
- Analysis and Interpretation of Financial Reports.
- Role of Budgets and Budget Preparation.
- Cost Behaviour: Cost-volume-profit analysis.
- Revenue and Cost Determination.
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.