Financial Accounting 1

Course code PACC6000
Available in 2015
2015 Course Timetables

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.

Availability

Sydney Bathurst Street

  • Semester 1 - 2015
  • Semester 2 - 2015

Learning Outcomes

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:

  1. Framework of accounting and general principles of reporting / types of organisations
  2. Financial recording procedures
  3. Preparing income statement, statement of changes of equity and balance sheet for retailing operations
  4. Inventory costing methods
  5. Accounting information systems: subsidiary ledgers and special journals
  6. Internal control and cash
  7. Analysis and interpretation of financial statements
  8. Receivables and payables
  9. Non-current assets
  10. Partnerships

Requisites

This course is only available to students enrolled in the Master of Professional Accounting, Master of Professional Accounting (Advanced) and Master of Professional Accounting / Master of Business programs.

Assessment Items

Written Assignment: Online Assignment

Report: Assignment 2 Report

In Term Test: In-class Quiz

Formal Examination: Exam

Contact Hours

Lecture

Face to Face On Campus 3 hour(s) per Week for Full Term