6 points, SCA Band 3, 0.125 EFTSL
Undergraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
Faculty
Organisational Unit
Chief examiner(s)
Coordinator(s)
Unit guides
Prohibitions
ACF1000, ACB1002, AFG1002, ACG1002, ACW1002, AFW1002, AFC1030, ACC1100, ACP1100, ACF1121, AFF1121
Synopsis
This unit provides students with an introduction to financial accounting guided by the Conceptual Framework and Accounting Standards. Emphasis is placed on accounting processes, practices and policies that enable the financial statements to be prepared. Students will integrate theoretical and technical knowledge learned and exercise judgement to explore accounting issues.
Outcomes
The learning goals associated with this unit are to:
- identify and analyse measurement systems and their relationship with the accounting Conceptual Framework
- apply the principles of double-entry and accrual accounting
- describe and apply definitions and recognition criteria for assets, liabilities, incomes and expenses as specified in the Conceptual Framework
- apply principles of selected Accounting Standards and prepare financial statements for business entities including service and retail organisations
- develop the ability to work effectively in a team; and demonstrate the development of skills in research, judgement and oral communication.
Assessment
Within semester assessment: 50% + Examination: 50%
Workload requirements
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
See also Unit timetable information