ACC1100 - Introduction to financial accounting

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Overview

This unit is designed for students undertaking the accounting major. It will provide an introduction to financial accounting guided by the Conceptual Framework and Accounting Standards. Emphasis is placed on accounting processes, practices and policies that enable financial statements to be prepared. Students will integrate theoretical and technical knowledge learned … For more content click the Read More button below.

This unit is designed for students undertaking the accounting major. It will provide an introduction to financial accounting guided by the Conceptual Framework and Accounting Standards. Emphasis is placed on accounting processes, practices and policies that enable financial statements to be prepared. Students will integrate theoretical and technical knowledge learned and exercise judgement to explore accounting issues.

Offerings

S1-01-CLAYTON-ON-CAMPUS

S1-FF-CLAYTON-FLEXIBLE

S2-01-CLAYTON-ON-CAMPUS

Requisites

Prohibition

Contacts

Chief Examiner(s)

Mr John Gerrand

Notes

IMPORTANT NOTICE:
Scheduled teaching activities and/or workload information are subject to change in response to COVID-19, please check your Unit timetable and Unit Moodle site for more details.

Learning outcomes

On successful completion of this unit, you should be able to:

identify and analyse measurement systems and their relationship with the accounting Conceptual Framework

apply the principles of double-entry and accrual accounting

describe and apply definitions and recognition criteria for assets, liabilities, incomes and expenses as specified in the Conceptual Framework

apply principles of selected Accounting Standards and prepare financial statements for business entities including service and retail organisations

apply critical thinking, problem solving, and communication skills within corporate financial reporting topics.

Teaching approach

Online learning

Active learning

Problem-based learning

Peer assisted learning

Assessment

1 - Within semester assessment

2 - Examination

Scheduled and non-scheduled teaching activities

Lectures

Tutorials

Workload requirements

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

Learning resources

Required resources

Other unit costs

Costs are indicative and subject to change.
Electronics, calculators and tools: $40