PACC6000
10 units
6000 level
Course handbook
Description
Fundamental principles underpin accrual accounting and financial reporting. Financial Accounting 1 critically examines these principles providing students with the technical skills of accounting, including the analysis, recording, preparation and interpretation of accounting information.
Availability2024 Course Timetables
Newcastle City Precinct
- Trimester 1 - 2024
- Trimester 3 - 2024
Sydney Elizabeth Street
- Trimester 1 - 2024
- Trimester 2 - 2024
- Trimester 3 - 2024
Learning outcomes
On successful completion of the course students will be able to:
1. Apply the double-entry system to a transaction data set, and proceed through the steps of the accounting cycle.
2. Prepare and analyse financial statements in accordance with conventional rules of accounting.
3. Resolve a financial accounting problem, and justify a solution using appropriate financial accounting concepts and principles.
4. Reflect on learning behaviours and identify strategies to improve learning.
Content
This course includes the following topics:
- Framework of accounting and general principles of reporting / types of organisations
- Financial recording procedures
- Preparing income statement, statement of changes of equity and balance sheet for retailing operations
- Inventory costing methods
- Accounting information systems: subsidiary ledgers and special journals
- Internal control and cash
- Analysis and interpretation of financial statements
- Receivables and payables
- Non-current assets
- Partnerships
Requisite
This course is only available to students enrolled in the programs:
[11702] Master of Professional Accounting
[12187] Graduate Certificate in Professional Accounting
[12403] Master of Professional Accounting (Advanced)
[40149] Master of Professional Accounting/Master of Business Administration
[40164] Master of Professional Accounting/Master of Business Administration
Assessment items
In Term Test: In class test
Online Learning Activity: Online Assignment
Report: Written Report
Formal Examination: Final Exam
Contact hours
Trimester 1 - 2024 - Newcastle City Precinct
Lecture-1
- Face to Face On Campus 2 hour(s) per week(s) for 12 week(s) starting in week 1
Online Activity-1
- Self-Directed 6 hour(s) per term
- 6 hours of online content per term provided for self directed learning
Trimester 1 - 2024 - Sydney Elizabeth Street
Lecture-1
- Face to Face On Campus 2 hour(s) per week(s) for 12 week(s) starting in week 1
Online Activity-1
- Self-Directed 6 hour(s) per term
- 6 hours of online content per term provided for self directed learning
Trimester 2 - 2024 - Sydney Elizabeth Street
Lecture-1
- Face to Face On Campus 2 hour(s) per week(s) for 12 week(s) starting in week 1
Online Activity-1
- Self-Directed 6 hour(s) per term
- 6 hours of online content per term provided for self directed learning
Trimester 3 - 2024 - Newcastle City Precinct
Lecture-1
- Face to Face On Campus 2 hour(s) per week(s) for 12 week(s) starting in week 1
Online Activity-1
- Self-Directed 6 hour(s) per term
- 6 hours of online content per term provided for self directed learning
Trimester 3 - 2024 - Sydney Elizabeth Street
Lecture-1
- Face to Face On Campus 2 hour(s) per week(s) for 12 week(s) starting in week 1
Online Activity-1
- Self-Directed 6 hour(s) per term
- 6 hours of online content per term provided for self directed learning
Course outline
- PACC6000 - Trimester 1, 2024 (Ncle) (PDF, 210.2 KB)
- PACC6000 - Trimester 1, 2024 (Syd) (PDF, 210.2 KB)
The University of Newcastle acknowledges the traditional custodians of the lands within our footprint areas: Awabakal, Darkinjung, Biripai, Worimi, Wonnarua, and Eora Nations. We also pay respect to the wisdom of our Elders past and present.