Year
2021
Units
4.5
Contact
1 x 2-hour lecture weekly
1 x 50-minute tutorial weekly
Prerequisites
1 Admission into BBUSIE-Bachelor of Business (Innovation and Enterprise)
1a Admission into BBUSWS-Bachelor of Business
1b Admission into BBUSMK-Bachelor of Business (Marketing)
1c Admission into BBUSMG-Bachelor of Business (Management)
1d Admission into BBUSIB-Bachelor of Business (International Business)
1e Admission into BBUSHR-Bachelor of Business (Human Resource Management)
1f Admission into BCOMAL-Bachelor of Commerce (Advanced Leadership)
1g Admission into BBUSAL-Bachelor of Business (Advanced Leadership)
1h Admission into BCOMAF-Bachelor of Commerce (Accounting/Finance)
1i Admission into BCOMAC-Bachelor of Commerce (Accounting)
1j Admission into BCOMFN-Bachelor of Commerce (Finance)
1k Admission into BCOMBE-Bachelor of Commerce (Business Economics)
1l Admission into BCOMWS-Bachelor of Commerce
1m Admission into BCOMACOL-Bachelor of Commerce (Accounting)
1n Admission into BACCT-Bachelor of Accounting
1o Admission into BAF-Bachelor of Accounting and Finance
1p Admission into BF-Bachelor of Finance
1q Admission into BFBE-Bachelor of Finance and Business Economics
1r Admission into BBEC-Bachelor of Business Economics
1s Admission into BACOL-Bachelor of Accounting
1t Admission into BBF-Bachelor of Banking and Finance
1u Admission into BBFAL-Bachelor of Banking and Finance (Advanced Leadership)
1v Admission into BCOM-Bachelor of Commerce
1w Admission into BFAL-Bachelor of Finance (Advanced Leadership)
1x Admission into BAFAL-Bachelor of Accounting and Finance (Advanced Leadership)
1y Admission into BFBEAL-Bachelor of Finance and Business Economics (Advanced Leadership)
1z Admission into BBECAL-Bachelor of Business Economics (Advanced Leadership)
1{ Admission into BACAL-Bachelor of Accounting (Advanced Leadership)
Must Satisfy: ((1 or 1a or 1b or 1c or 1d or 1e or 1f or 1g or 1h or 1i or 1j or 1k or 1l or 1m or 1n or 1o or 1p or 1q or 1r or 1s or 1t or 1u or 1v or 1w or 1x or 1y or 1z or 1{))
Enrolment not permitted
BUSN1011 has been successfully completed
Topic description

This topic's aim is to provide a solid grounding in accounting fundamentals including recording transactions, preparing financial statements and elementary analysis and interpretation of financial statements. A second aim is to equip students with a critical perspective on accounting information via an understanding of the underlying principles, doctrines and methods.

Educational aims

This topic aims to introduce students to the technical aspects of recording and reporting accounting information for the relatively less complex sole proprietorship form of business organisation. It also aims to provide students with an understanding of the importance of financial information in business practice. The topic includes introductory financial accounting and preparation of three financial statements.

Expected learning outcomes
On completion of this topic you will be expected to be able to:

  1. Explain the accounting equation
  2. Analyse the effects of business transactions on the accounting equation
  3. Articulate the rules of debit and credit and how to apply these in analysing transactions
  4. Record transactions in the appropriate journal
  5. Post transactions from the journals to the appropriate ledger
  6. Prepare adjusting entries and reversing entries
  7. Use a worksheet to complete the accounting cycle
  8. Prepare financial statements

Key dates and timetable

(1), (2)

Each class is numbered in brackets.
Where more than one class is offered, students normally attend only one.

Classes are held weekly unless otherwise indicated.

FULL

If you are enrolled for this topic, but all classes for one of the activities (eg tutorials) are full,
contact your College Office for assistance. Full classes frequently occur near the start of semester.

Students may still enrol in topics with full classes as more places will be made available as needed.

If this padlock appears next to an activity name (eg Lecture), then class registration is closed for this activity.

Class registration normally closes at the end of week 2 of each semester.

Classes in a stream are grouped so that the same students attend all classes in that stream.
Registration in the stream will result in registration in all classes.
  Unless otherwise advised, classes are not held during semester breaks or on public holidays.