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

UNIT LEARNING OUTCOMES

Demonstrate an understanding of key accounting functions and principles
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
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
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
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

Assessment 1: Mid Trimester Exam
Assessment 2: Practical Written Assignment
Assessment 3: Final Exam
Assessment 4: Engagement with the Process

BACK TO ACCOUNTING