Availabilities:

LocationDomesticInternational
China - TUSTN/A
Gold Coast
MelbourneN/A
Online
Session1,2,3
Session1,1,3
Papua New Guinea - IBSU Port MoresbyN/A
PerthN/A
SydneyN/A

Unit description

Provides an introduction to accounting systems and processes with a focus on recording routine business transactions, the preparation of financial statements and the use of accounting information to make business decisions in a variety of business contexts. The unit presupposes no prior knowledge of accounting. It provides the foundation knowledge and core skills for the upper level accounting units and equips other business majors with essential accounting tools.

Unit content

Topic 1a An introduction to the role of accounting in business

Topic 1b Recording transactions 1: Accounting equation 

Topic 2a Recording transactions 2: Double entry accounting

Topic 2b Completing the accounting cycle: Adjusting and closing the accounts

Topic 3a Accounting for retail operations including GST

Topic 3b Reporting and analysing inventory

Topic 4a Internal controls, cash & receivables

Topic 4b Non-current assets

Topic 5a Liabilities

Topic 5b Equity

Topic 6 Cash Flow Statement

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

On completion of this unit, students should be able to:
1Describe the key characteristics and underpinning theoretical principles of the regulatory framework that govern the measurement and disclosure of accounting information.
2Apply routine accounting concepts and principles for recording business transactions using accrual accounting and the double entry system for the three main business structures.
3Use accounting software to record business transactions and produce financial reports through an accounting cycle.
4Prepare and interpret the four key financial statements using tools and techniques for decision-making purposes from a multiple stakeholders’ perspective.
5Describe the role of internal controls in the context of a business’s operating environment.

On completion of this unit, students should be able to:

  1. Describe the key characteristics and underpinning theoretical principles of the regulatory framework that govern the measurement and disclosure of accounting information.
  2. Apply routine accounting concepts and principles for recording business transactions using accrual accounting and the double entry system for the three main business structures.
  3. Use accounting software to record business transactions and produce financial reports through an accounting cycle.
  4. Prepare and interpret the four key financial statements using tools and techniques for decision-making purposes from a multiple stakeholders’ perspective.
  5. Describe the role of internal controls in the context of a business’s operating environment.

Prescribed texts

  • Australian paperback edition: Carlon, S, McAlpine-Mladenovic, R, Palm, C, Mitrione, L, Kirk, N & Wong, L, 2018, Financial Accounting, 6th edn, John Wiley & Sons Australia, Brisbane. ISBN: 9780730363279.
  • Available in e-Book format: Carlon, S, McAlpine-Mladenovic, R, Palm, C, Mitrione, L, Kirk, N & Wong, L, 2018, Financial Accounting, 6th edn, John Wiley & Sons Australia, Brisbane. ISBN: 9780730356141.

  • Australian paperback edition: Carlon, S, McAlpine-Mladenovic, R, Palm, C, Mitrione, L, Kirk, N & Wong, L, 2018, Financial Accounting, 6th edn, John Wiley & Sons Australia, Brisbane. ISBN: 9780730363279.
  • Available in e-Book format: Carlon, S, McAlpine-Mladenovic, R, Palm, C, Mitrione, L, Kirk, N & Wong, L, 2018, Financial Accounting, 6th edn, John Wiley & Sons Australia, Brisbane. ISBN: 9780730356141.

  • Prescribed text information is not currently available.
Prescribed texts may change in future study periods.

Teaching and assessment

Teaching method
Workshop on-site
Assessment
Weekly online self-testsSR
Online Quiz 1: Topics 1-3a & Online Quiz 2: Topics 3b-5b20%
Exam: closed book45%
MYOB Accounting software 30% MYOB Report 5%35%

Teaching method
Tutorial on-site 2 hours (12 weeks)
Lecture online 1 hour (12 weeks)
Assessment
Weekly online self-testsSR
Online Quiz 1: Topics 1-3a & Online Quiz 2: Topics 3b-5b20%
Exam: closed book45%
MYOB Accounting software 30% MYOB Report 5%35%

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Weekly online self-testsSR
Online Quiz 1: Topics 1-3a & Online Quiz 2: Topics 3b-5b20%
Exam: closed book45%
MYOB Accounting software 30% MYOB Report 5%35%

Teaching method
Lecture online 1 hour (12 weeks)
Assessment
Weekly online self-testsSR
Online Quiz 1: Topics 1-3a & Online Quiz 2: Topics 3b-5b20%
Exam: closed book45%
MYOB Accounting software 30% MYOB Report 5%35%

Teaching method
Workshop on-site
Assessment
Weekly online self-testsSR
Online Quiz 1: Topics 1-3a & Online Quiz 2: Topics 3b-5b20%
Exam: closed book45%
MYOB Accounting software 30% MYOB Report 5%35%

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Weekly online self-testsSR
Online Quiz 1: Topics 1-3a & Online Quiz 2: Topics 3b-5b20%
Exam: closed book45%
MYOB Accounting software 30% MYOB Report 5%35%

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Weekly online self-testsSR
Online Quiz 1: Topics 1-3a & Online Quiz 2: Topics 3b-5b20%
Exam: closed book45%
MYOB Accounting software 30% MYOB Report 5%35%
Notice

Intensive offerings may or may not be scheduled in every session. Please refer to the timetable for further details.

Southern Cross University employs different teaching methods within units to provide students with the flexibility to choose the mode of learning that best suits them. SCU academics strive to use the latest approaches and, as a result, the learning modes and materials may change. The most current information regarding a unit will be provided to enrolled students at the beginning of the study session.

Fee information

Domestic

Commonwealth Supported courses
For information regarding Student Contribution Amounts please visit the Student Contribution Amounts.

Fee paying courses
For postgraduate or undergraduate full fee paying courses please check Domestic Postgraduate Fees OR Domestic Undergraduate Fees

International

Please check the international course and fee list to determine the relevant fees.

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