6865 (v.3) Accounting 163

Area:

School of Accounting

Credits:

12.5

Contact Hours:

3.0

Seminar:

1 x 3 Hours Weekly

Syllabus:

Introduction to accounting and financial statements. Transaction analysis. The basic accounting cycle - recording business transactions, journal, ledger, adjusting entries, preparation and presentation of financial statements. Accounting for accruals and depreciation, long term construction projects. Major concepts underlying financial statements. Financial statement analysis. Planning and control. Manufacturing cost elements. Cost-volume profit analysis. Introduction to capital budgeting.

Unit Outcomes:

On successful completion of this unit, students will have - A broad and practical understanding of both financial and managerial accounting. Distinguished between the information needs of internal and external users. Appreciated the importance of business planning and prepared a basic business plan. Employed the various decision-making techniques used by management. Identified and distinguished between various costs incurred by an entity. Defined basic investment principles. Prepared a loan schedule and distinguished between simple and compound interest as well as nominal and effective interest rates. Explained the differences between cash and accrual accounting. Accounted for entity transactions and prepared financial statements. Interpreted financial statements. Explained how changes to accruals can influence reported profit and discussed the motivations for managers seeking to influence profit. Distinguished between allowable and non-allowable deductions and explained how taxable income is determined.

Text and references listed above are for your information only and current as of September 30, 2003. Please check with the unit coordinator for up-to-date information.

Unit References:

No prescribed references.

Unit Texts:

Hoggett, Edwards & Medlin (2003), Accounting in Australia (5th Ed). Milton, Qld, John Wiley & Sons.

Unit Assessment Breakdown:

Assignment 25%. Final exam 50%. Mid semester test 25%. This is by grade/mark assessment.

Year	Location	Period	Internal	Area External	Central External
2004	Bentley Campus	Semester 2	Y