Availabilities:

2021 unit offering information will be available in September 2020

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 1 An introduction to the role of accounting in business

Topic 2 Recording transactions 1: Accounting equation 

Topic 3 Recording transactions 2: Double entry accounting

Topic 4 Completing the accounting cycle: Adjusting and closing the accounts

Topic 5 Accounting for retail operations including GST

Topic 6 Reporting and analysing inventory

Topic 7 Internal controls, cash & receivables

Topic 8 Non-current assets

Topic 9 Liabilities

Topic 10 Equity

Topic 11 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.

GA1: Intellectual rigour, GA2: Creativity, GA3: Ethical practice, GA4: Knowledge of a discipline, GA5: Lifelong learning, GA6: Communication and social skills, GA7: Cultural competence
On completion of this unit, students should be able to:GA1GA2GA3GA4GA5GA6GA7
1Describe the key characteristics and underpinning theoretical principles of the regulatory framework that govern the measurement and disclosure of accounting information.Knowledge of a discipline
2Apply routine accounting concepts and principles for recording business transactions using accrual accounting and the double entry system for the three main business structures. Knowledge of a discipline
3Use accounting software to record business transactions and produce financial reports through an accounting cycle.Intellectual rigourKnowledge of a discipline
4Prepare and interpret the four key financial statements using tools and techniques for decision-making purposes from a multiple stakeholders’ perspective.Intellectual rigourLifelong learning
5Describe the role of internal controls in the context of a business’s operating environment.Knowledge of a discipline

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.
    • GA4: Knowledge of a discipline
  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.
    • GA4: Knowledge of a discipline
  3. Use accounting software to record business transactions and produce financial reports through an accounting cycle.
    • GA1: Intellectual rigour
    • GA4: Knowledge of a discipline
  4. Prepare and interpret the four key financial statements using tools and techniques for decision-making purposes from a multiple stakeholders’ perspective.
    • GA1: Intellectual rigour
    • GA5: Lifelong learning
  5. Describe the role of internal controls in the context of a business’s operating environment.
    • GA4: Knowledge of a discipline

Teaching and assessment

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.
Commencing 2021 Commonwealth Supported only. Student contribution band: 3

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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