AFC1030 - Introduction to financial accounting

Leader: Dr Patty McNicholas

Offered

Clayton First semester 2007 (Day)
Clayton Second semester 2007 (Day)

Synopsis

A conceptual framework for accounting; definition and recognition of assets, liabilities, equity, revenues and expenses (including inventory valuation, depreciation and non-current assets); form and content of published general purpose financial reports; price-level accounting, alternative accounting measurement systems; analysis and interpretation of financial statements.

Objectives

The learning objectives of this unit are to:

• describe the definitions and recognition criteria for assets, liabilities, equity, income and expenses;
• evaluate and compare alternative measurement systems;
• demonstrate how the analysis and interpretation of accounting information can assist in making investment and financing decisions;
• apply critical thinking, problem solving and presentation skills to individual and /or group activities dealing with financial accounting.

Assessment

Mid-semester test: 10%
Assignments: 15%
Tutorial preparation and presentation: 10%
Final examination (3 hours): 65%

Contact hours

Two 1-hour lectures and one 1.5-hour tutorial per week

Prerequisites

AFC1021 or AFC1022