Abstract

This subject builds on the ability to analyse and interpret accounting information developed in ACC100 Accounting 1 by teaching students to prepare accounting information using manual and automated accounting information systems. All aspects of the financial statement preparation process are covered with a focus on accounting for key assets.

Syllabus

analysing and record business transactions;accounting for inventory;introduction to subsidiary ledgers and special journals;measuring business profit: the adjusting process;completing the accounting cycle;accounting for cashaccounting for receivables; andaccounting for property, plant and equipment.

Learning outcomes

Upon successful completion of this subject, students should:
1.
be able to record accounting transactions using manual and automated accounting information systems;
2.
be able to calculate, account for and report values of key assets including: receivables, inventory; and property, plant, equipment; and
3.
be able to explain, prepare, analyse and interpret the following major financial statements: income statement, statement of changes in equity, statement of cash flows, and statement of financial position.