Financial Accounting 1

Course aim

This course aims to provide 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.

Course content

Confirmation and expansion of the knowledge pertaining to the complete accounting cycle with emphasis on the design and implementation of double entry accounting systems as applied to manual and computerised formats. An introduction to the financial reporting environment including an introductory exposure to various accounting standards used in financial accounting. An introductory investigation of the practical, theoretical and ethical issues underlying the application of accounting standards with particular reference to the acquisition, depreciation and disposal of Non-Current Assets, Inventories, Accounts Receivable and Cash.

Textbook(s)

Hoggett, J, Medlin, J, Chalmers, K, Beattie, C, Hellmann, A & Maxfield, J 2018, Accounting, 10th edn, John Wiley and Sons, Brisbane

Prerequisite(s)

Common to all relevant programs
Subject Area & Catalogue Number	Course Name
ACCT 1008	Accounting for Business

Corequisite(s)

Nil

Teaching method

Component	Duration
INTERNAL, CITY WEST
Workshop	2.5 hours x 10 weeks
INTERNAL, CITY WEST (INTENSIVE)
Workshop	24 hours x N/A
EXTERNAL, CITY WEST, ONLINE
External	N/A x 10 weeks
EXTERNAL, CITY WEST, ONLINE (INTENSIVE)
External	24 hours x N/A

Note: These components may or may not be scheduled in every study period. Please refer to the timetable for further details.

Assessment

Continuous assessment, Examination, Practical

Fees

EFTSL*: 0.125
Commonwealth Supported program (Band 3)
To determine the fee for this course as part of a Commonwealth Supported program, go to:
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Fee-paying program for domestic and international students
International students and students undertaking this course as part of a postgraduate fee paying program must refer to the relevant program home page to determine the cost for undertaking this course.

Non-award enrolment
Non-award tuition fees are set by the university. To determine the cost of this course, go to:
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Not all courses are available on all of the above bases, and students must check to ensure that they are permitted to enrol in a particular course.

* Equivalent Full Time Study Load. Please note: all EFTSL values are published and calculated at ten decimal places. Values are displayed to three decimal places for ease of interpretation.