AFF1121 - Introduction to financial accounting

Offered

Caulfield First semester 2009 (Day)
Caulfield Second semester 2009 (Day)
Caulfield Second semester 2009 (Evening)

Synopsis

This unit is concerned with developing a conceptual and practical accounting framework for financial reporting through the process of collecting, analysing, classifying, measuring, recording, presenting and interpreting financial information and developing financial reports for service and trading entities from both a manual and a computer-based system.

Objectives

The learning goals associated with this unit are to:

• explain and discuss generally accepted accounting principles (GAAP), the accounting conceptual framework, and selected accounting standards
• prepare financial statements for sole traders, partnerships and corporate entities using traditional manual accounting procedures
• prepare computerised financial reports
• explain and evaluate internal controls that help to ensure the integrity of accounting systems
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with financial accounting.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%

Contact hours

One 2-hour lecture and one 1-hour tutorial per week

Prerequisites

AFF1000 or AFF1110

Prohibitions

AFC1030, AFW1002