Offered

Berwick First semester 2008 (Day)
Berwick Second 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)
Singapore First semester 2008 (Off-campus)
Singapore Second semester 2008 (Off-campus)
Peninsula Second semester 2008 (Day)
South Africa Second semester 2008 (Day)

Synopsis

An overview of historical cost accounting and a consideration of alternative accounting measurement systems; the time value of money; and the role of computers within an accounting information system. The definitions and recognition criteria of the conceptual framework will be considered on an issue basis for all of the elements (assets, liabilities, equity, revenue and expenses). Issues will arise in regard to the recognition of all elements. Accounting for business structures in a partnership and company form will be considered: as will the interpretation and analysis of financial information.

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

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

Contact hours

3 class hours per week

Prerequisites

AFW1001 or equivalent

Prohibitions

AFC1030, AFF1121