Financial Accounting 1
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.
Sydney Bathurst Street
- Semester 1 - 2015
- Semester 2 - 2015
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.
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
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.
Written Assignment: Online Assignment
Report: Assignment 2 Report
In Term Test: In-class Quiz
Formal Examination: Exam
Face to Face On Campus 3 hour(s) per Week for Full Term