Offered
Clayton First semester 2008 (Day)
Synopsis
A conceptual framework for financial reporting; basic accounting procedures including transaction recording in journals and ledgers; balance day adjustments; methods of ensuring efficiency and control within the accounting information system; preparation of financial statements; the nature and preparation of cash flow statements; analysis and interpretation of short-term financial position.
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
Within semester assessment: 35%
Examination (3 hours): 65%
Contact hours
Two 1-hour lectures and one 1.5-hour tutorial per week
Prohibitions
AFC1022, AFF1110, AFW1001
