This subject introduces you to fundamental accounting tools to provide a basis for analysinig and interpreting financial statements and internal management documents throughout your career. The educational philosophy used is based on the 'building blocks' approach (the accounting cycle), a sequence of steps or procedures related to a firm's accounts and related to a firm's accounts and account entries, which culminates in the ultimate objective of financial reports.
Course outline
Semester 1
Understanding basic accounting concepts
Summarising and reporting accounting information
The measurement of profit
Special-aspects and application of decision-making
Semester 2
Accounting for accounts receivable and bad debts
Alternative inventory valuation models
Goods and Services Tax (GST)
Valuation of non-current assets; financing decisions
Accounting for partnerships and companies
Ethics and its relevance to business
Financial statement and ratio analysis
Management and manufacturing; application of costing