Offered

Caulfield First semester 2008 (Day)
Caulfield First semester 2008 (Evening)
Caulfield Second semester 2008 (Day)

Synopsis

This unit aims to provide students with an introductory knowledge of accounting and the role of accounting information in financial decision making. The unit covers the recording process; the accounting cycle; the preparation and analyses of financial statements for service and retail firms; accounting and controlling for assets; liabilities and owners' equity. On completion of this unit, students should be able to understand the information requirements for financial decision making by internal and external users.

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: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

AFC1021, AFC1022, AFW1001