Year
2020
Units
4.5
Contact
Semester
1 x120-minute lecture weekly
1 x 50- minute tutorial weekly

Non-Semester
2 x 120-minute lectures weekly
1 x 120-minute tutorial weekly
Enrolment not permitted
BUSN1001 has been successfully completed
Course context
Available to all degrees except the Bachelor of Commerce and its specialisations
Topic description
This topic introduces students to the fundamental concepts of financial and management accounting. It examines the elements of the financial statements provided to external users and the information provided in, and interpretation of, those statements. Several management accounting functions, important to internal users, are also introduced.
Educational aims
This topic aims to provide students with an understanding of the importance of financial information in business practice. The topic includes introductory financial accounting, introductory management accounting, financial statement interpretation and analysis, and budgeting. No prior knowledge of accounting is assumed.
Expected learning outcomes
On successful completion of this topic students should be able to:
  • demonstrate a basic understanding of the measurement and reporting of the financial position, financial performance and cash flows of an entity and how this information is reported to external users
  • analyse and interpret information contained in the financial statements
  • demonstrate basic knowledge of techniques used for internal management processes, including budgeting, cost analysis and working capital management