Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should have an appreciation of the conceptual framework for financial reporting and an understanding of the uses and limitations of accounting data; have developed skills in recording accounting information and in the preparation of profit and loss statements, balance sheets and cash flow statements; have developed an analytical approach to problem solving both in the preparation and use of accounting information; and; have the practical and conceptual skills and knowledge required for further study of accounting at a tertiary level.
Synopsis The subject involves a study of the following topics: a conceptual framework for financial reporting; basic accounting procedures including transaction recording in journals and ledgers; balance day adjustments; methods of ensuring efficiency and control within the accounting information system; preparation of financial statements; the nature and preparation of cash flow statements; analysis and interpretation of short-term financial position.
Assessment Written: 10% + Mid-semester test: 15% + Examination (3 hours): 75%