AFW1001 - Introductory accounting A

Leader: Mr Jon Phillips

Offered

Berwick First semester 2007 (Day)
Berwick Second semester 2007 (Day)
Gippsland First semester 2007 (Day)
Gippsland First semester 2007 (Off-campus)
Gippsland Second semester 2007 (Day)
Gippsland Second semester 2007 (Off-campus)
Hong Kong First semester 2007 (Off-campus)
Malaysia First semester 2007 (Day)
Malaysia Second semester 2007 (Day)
Malaysia Summer semester A 2007 (Day)
Peninsula First semester 2007 (Day)
Peninsula Second semester 2007 (Day)
Singapore First semester 2007 (Off-campus)
Singapore Second semester 2007 (Off-campus)
South Africa First semester 2007 (Day)
South Africa Second semester 2007 (Day)

Synopsis

The conceptual framework, financial statements, accounting systems and the recording process, reporting for service firms, accounting for inventory using the periodic and perpetual inventory systems, balance day adjustments, closing entry process and the use of work sheets, specialised journals and control accounts, internal control and bank reconciliation procedure, cash flow statements, analysis and interpretation of financial information.

Objectives

The learning objectives of this unit are to:

• describe the elements of financial reports;
• apply double entry recording and prepare financial reports for service and trading firms;
• describe internal control procedures;
• analyse and interpret financial information and explain its use for decision making
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with introductory accounting.

Assessment

Assignments: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week