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ACC00151 - Financial Accounting (2018)

2014 | 2015 | 2016 | 2017 | 2018

Availabilities:

LocationDomesticInternational
Gold Coast Session 1, 2 Session 1, 2
Lismore Session 1 Session 1
Melbourne N/A Session 1, 2, 3
Online Session 1, 2 Session 1
Papua New Guinea - IBS Enga N/A Session 1
Papua New Guinea - IBS Port Moresby N/A Session 1, 3
Sydney N/A Session 1, 2, 3

Unit aim

Provides an introduction to accounting systems and processes with a focus on recording routine business transactions, the preparation of financial statements and the use of accounting information to make business decisions in a variety of business contexts. The unit presupposes no prior knowledge of accounting. It provides the foundation knowledge and core skills for the upper level accounting units and equips other business majors with essential accounting tools.

Unit content

Topic 1 An introduction to the role of accounting in business

Topic 2 Recording transactions 1

Topic 3 Recording transactions 2

Topic 4 Completing the accounting cycle: Adjusting and closing the accounts

Topic 5 Accounting for retail operations including GST

Topic 6 Reporting and analysing inventory

Topic 7 Internal controls, cash & receivables

Topic 8 Non-current assets

Topic 9 Liabilities

Topic 10 Equity

Topic 11 Cash Flow Statement

Topic 12 Financial Statement Analysis & consolidation of principles

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

Learning outcomes and graduate attributes

GA1: Intellectual rigour, GA2: Creativity, GA3: Ethical practice, GA4: Knowledge of a discipline, GA5: Lifelong learning, GA6: Communication and social skills, GA7: Cultural competence
On completion of this unit, students should be able to: GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 Describe the key characteristics and underpinning theoretical principles of the regulatory framework that govern the measurement and disclosure of accounting information.
2 Apply routine accounting concepts and principles for recording business transactions using accrual accounting and the double entry system for the three main business structures.
3 Use accounting software to record business transactions and produce financial reports through an accounting cycle.
4 Prepare and interpret the four key financial statements using tools and techniques for decision-making purposes from a multiple stakeholders’ perspective.
5 Describe the role of internal controls in the context of a business’s operating environment.

On completion of this unit, students should be able to:

  1. Describe the key characteristics and underpinning theoretical principles of the regulatory framework that govern the measurement and disclosure of accounting information.
    • GA4: Knowledge of a discipline
  2. Apply routine accounting concepts and principles for recording business transactions using accrual accounting and the double entry system for the three main business structures.
    • GA4: Knowledge of a discipline
  3. Use accounting software to record business transactions and produce financial reports through an accounting cycle.
    • GA1: Intellectual rigour
    • GA4: Knowledge of a discipline
  4. Prepare and interpret the four key financial statements using tools and techniques for decision-making purposes from a multiple stakeholders’ perspective.
    • GA1: Intellectual rigour
    • GA5: Lifelong learning
  5. Describe the role of internal controls in the context of a business’s operating environment.
    • GA4: Knowledge of a discipline

Prescribed texts

Session 1

  • Prescribed text information is not currently available.

Session 2

  • Prescribed text information is not currently available.

Session 3

  • Prescribed text information is not currently available.

Prescribed texts may change in future study periods.

Teaching and assessment

Gold Coast

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Weekly online self-tests 10%
Online quiz: Topics 1-3 and Topics 4-7 10%
Exam: closed book 50%
Accounting software 30%

Lismore

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Weekly online self-tests 10%
Online quiz: Topics 1-3 and Topics 4-7 10%
Exam: closed book 50%
Accounting software 30%

Melbourne

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Weekly online self-tests 10%
Online quiz: Topics 1-3 and Topics 4-7 10%
Exam: closed book 50%
Accounting software 30%

Online

Teaching method
Lecture online 1 hour (12 weeks)
Assessment
Weekly online self-tests 10%
Online quiz: Topics 1-3 and Topics 4-7 10%
Exam: closed book 50%
Accounting software 30%

Papua New Guinea - IBS Enga

Teaching method
Workshop on-site
Assessment
Weekly online self-tests 10%
Online quiz: Topics 1-3 and Topics 4-7 10%
Exam: closed book 50%
Accounting software 30%

Papua New Guinea - IBS Port Moresby

Teaching method
Workshop on-site
Assessment
Weekly online self-tests 10%
Online quiz: Topics 1-3 and Topics 4-7 10%
Exam: closed book 50%
Accounting software 30%

Sydney

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Weekly online self-tests 10%
Online quiz: Topics 1-3 and Topics 4-7 10%
Exam: closed book 50%
Accounting software 30%

Intensive offerings may or may not be scheduled in every session. Please refer to the timetable for further details.

Southern Cross University employs different teaching methods within units to provide students with the flexibility to choose the mode of learning that best suits them. SCU academics strive to use the latest approaches and, as a result, the learning modes and materials may change. The most current information regarding a unit will be provided to enrolled students at the beginning of the study session.

From the 1st of June, 2017, the term 'Distance Education' has been replaced with 'Online'

Fee information

Domestic

Commonwealth Supported courses
For information regarding Student Contribution Amounts please visit the Student Contribution Amounts.
Commencing 2018 Commonwealth Supported only. Student contribution band: 3

Fee paying courses
For POSTGRADUATE or UNDERGRADUATE full fee paying courses please check Domestic Postgraduate Fees OR Domestic Undergraduate Fees

International

Please check the international course and fee list to determine the relevant fees.