Undergraduate - UnitACB1000 - Principles of accounting and finance

This unit entry is for students who completed this unit in 2014 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered, or view unit timetables.

Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Accounting
Offered	Berwick First semester 2014 (Day)
Coordinator(s)	Mr Jon Phillips

Synopsis

This unit is an introduction to basic concepts in accounting and finance and the application of these concepts for decision-making by a wide range of potential users (e.g., shareholders, investment analysts, lenders, managers etc.). This unit should benefit students who wish to specialise in accounting and finance, and will also be of value to students whose primary interest lies elsewhere in the field of business.

On completion, students should have a clear understanding of the accounting process and the language of accounting to enable communication with an accounting professional, understand the relevance of accounting information for informed decision-making by a wide range of potential users, and have the ability to analyse and interpret accounting information.

Topics covered include the accounting equation, general purpose financial statements, cash and accrual accounting, balance day adjustments, financial statement analysis, interpreting information for managers to use in planning, decision making and control, and an introduction to finance, financial mathematics and investments.

Outcomes

The learning objectives associated with this unit are to:

describe the elements of financial statements, apply double entry recording and prepare basic financial statements
analyse and interpret financial statements and explain their use for decision making
prepare and interpret information (financial and non-financial) for managers to use in planning, decision making and control
describe basic finance concepts and apply financial mathematics to investment decisions
apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with introductory accounting and finance principles and demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered in ACB1000.