Abstract

This subject builds on the ability to analyse and interpret accounting information developed in ACC127 Accounting & Financial Literacy.  Students will use manual and automated accounting information systems to process accounting information and prepare financial reports. All aspects of the financial statement preparation process are covered with a focus on … For more content click the Read More button below.

Syllabus

Accounting standardsAnalyse and record business transactionsAccounting for inventoryIntroduction to subsidiary ledgers and special journalsMeasuring business profit: the adjusting processCompleting the accounting cycleAccounting for cashAccounting for receivablesAccounting 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 interpret and apply generally accepted accounting principles;
3.
be able to calculate, account for and report values of key assets including: receivables, inventory; and property, plant, equipment;
4.
be able to prepare financial statements for reporting entities in accordance with relevant professional and statutory reporting requirements;
5.
be able to describe and explain how technologies and accounting systems such as Enterprise Resources Planning and cloud based computing can support data analysis for decision making and risk mitigation; and
6.
be able to appreciate how new technologies may impact the future of accounting and enhance and improve efficiency in communication.

Enrolment restrictions

Not available to students who have completed ACC110