Offered

Berwick First semester 2008 (Day)
Berwick Second semester 2008 (Day)
Gippsland First semester 2008 (Day)
Gippsland First semester 2008 (Off-campus)
Gippsland Second semester 2008 (Day)
Gippsland Second semester 2008 (Off-campus)
Sunway First semester 2008 (Day)
Sunway Second semester 2008 (Day)
Sunway Summer semester A 2008 (Day)
Hong Kong First semester 2008 (Off-campus)
Singapore First semester 2008 (Off-campus)
Singapore Second semester 2008 (Off-campus)
Peninsula First semester 2008 (Day)
Peninsula Second semester 2008 (Day)
South Africa First semester 2008 (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

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

3 hours per week

Prohibitions

AFC1021, AFC1022, AFF1110