Financial Accounting 1
Scaffold your financial accounting studies with an understanding of the theoretical issues at the heart of the field.
Table the regulations that govern accountants. Master the accounting standards and note their influence over corporate accounting.
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Subjects may require attendance
- 31 May 2021
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At the completion of this subject students will be able to:
- discuss from an introductory perspective the theoretical, conceptual and ethical environments in the practice of financial accounting
- identify a number of relevant Accounting Standards and their application to the basic practice of corporate financial accounting
- demonstrate an integrated knowledge of the financial accounting process and recognise the procedures required for designing and implementing accounting systems, both manual and computer based
- discuss fundamental financial accounting practice as applied to a variety of basic issues confronted by accountants.
- Accounting: The Framework, rules and regulatory environment
- Opening, Adjusting, Closing and Reversing Entries
- Specialised Journals and Control Accounts
- Acquisition of Non-Current Assets and Entities
- Depreciation and Disposal of Non-Current Assets
- Accounting for Inventories
- Accounting for Receivables
- Accounting for Cash - Control
- Accounting for Cash - Management
- Funding Alternatives - The Partnership
You must either have successfully completed the following subject(s) before starting this subject, or currently be enrolled in the following subject(s) in a prior study period; or enrol in the following subject(s) to study prior to this subject:
Please note that your enrolment in this subject is conditional on successful completion of these prerequisite subject(s). If you study the prerequisite subject(s) in the study period immediately prior to studying this subject, your result for the prerequisite subject(s) will not be finalised prior to the close of enrolment. In this situation, should you not complete your prerequisite subject(s) successfully you should not continue with your enrolment in this subject. If you are currently enrolled in the prerequisite subject(s) and believe you may not complete these all successfully, it is your responsibility to reschedule your study of this subject to give you time to re-attempt the prerequisite subject(s)
No additional requirements
This degree provides the foundational framework of financial accounting, so that a student can progress to a major study of the discipline by ensuring the student has an integrated understanding of fundamental accounting systems and the accounting cycle that can be applied to various entities. Students will experience and apply a variety of accounting processes influenced by the accounting standards and conceptual framework and be exposed to some of the fundamental theoretical and conceptual issues surrounding the practice of financial accounting.
- Continuous Assessment (30%)
- Practical (20%)
- Closed Book Invigilated Exam (50%)
Current study term: 30 May 21 to 29 Aug 21
Check the learning management system (LMS) of your university for textbook details.