UNIT CODE: ACC101
ACCOUNTING I
UNIT DESCRIPTION
In this unit, students are introduced to the discipline of accounting. They will consider its role and functions in business and society and learn about accounting frameworks and Australian accounting standards. The unit Introduces students to knowledge of accounting processes, from recording transactions in journals and ledgers to preparing financial statements; enhances students' ability to apply their knowledge in a real business setting; and develops students' ability to exercise professional judgement and communicate information concerning business practices with stakeholders. Students learn about and practice key accounting functions and transactions including the use of debits and credits, adjusting to trial balance, completing the accounting cycle, the importance of retail operations and accounting for inventory, cash and receivables.
STUDENT WORKLOAD + DELIVERY MODE
TIMETABLED HOURS
RECOMMENDED PERSONAL HOURS
TOTAL WORKLOAD HOURS
STUDY LOAD
3 Hours per week
5 Hours per week
8 Hours per week
Full time
MODE OF DELIVERY
This unit will be offered to students in the following mode/s:
+ Face-to-face (Domestic and International)
+ Online (Domestic)
OVERVIEW
Award Course
Bachelor of Business Accounting
Area
Accounting
Unit Duration
12 Weeks
Weekly Attendance Pattern
3 hour session
Unit Level
100
Unit Weighting
6 Credit Points
Unit Type
Core Unit
Pre-Requisites
N/A
Co-Requisites
N/A
Work Integrated Learning
No
UNIT LEARNING OUTCOMES
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Demonstrate an understanding of key accounting functions and principles
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Define and describe key accounting terms and concepts and apply the concepts of double entry accounting, accrual accounting and accounting cycle in complex business structures
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Accurately record accounting information for a range of accounting transactions to be able to analyse business transactions of different types of businesses, after recording transactions within accounting processes and systems
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Analyse business transactions and prepare journal and general ledger accounts to trial balance. Demonstrate the ability to draft basic financial statements for different types of businesses
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Demonstrate the ability to correctly use accounting tools and techniques to perform functions relating to internal control, generally accepted accounting principles and regulatory frameworks that govern the measurement and disclosures of accounting information
ASSESSMENT STRUCTURE
ASSESSMENT TASK
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Assessment 1: Mid Trimester Exam
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Assessment 2: Practical Written Assignment
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Assessment 3: Final Exam
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Assessment 4: Engagement with the Process