Course overview
This course introduces students to identifying, recording, and reporting business events and transactions for decision-making. Students will develop an understanding of principles and concepts in the conceptual framework which sets students up for success in later accounting courses. Students will learn the fundamentals of the double entry accounting system and preparing financial statements alongside the practical aspects of using a computerised accounting system. Specific topics include accounting for inventories, accounts receivable, non-current assets, liabilities and equity.
Course learning outcomes
- Explain the nature, role and purpose of financial accounting in accordance with the Conceptual Framework.
- Describe the main features of the institutional and regulatory context in which financial accounting is practiced in Australia.
- Explain and apply the concepts of definition, recognition, measurement, and disclosure outlined in the Conceptual Framework and across selected accounting standards.
- Perform tasks involved in accounting cycle manually and using accounting software (for example recording transactions in journals, ledgers, adjusting and closing entries and generating income statement and balance sheet from trial balance)
- Display professional behaviour consistent with business expectations
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The Student Contribution amount displayed below is for students commencing a new program from 2021 onwards. If you are continuing in a program you commenced prior to 1 January 2021, or are commencing an Honours degree relating to an undergraduate degree you commenced prior to 1 January 2021, you may be charged a different Student Contribution amount from the amount displayed below. Please check the Student Contribution bands for continuing students here. If you are an international student, or a domestic student studying in a full fee paying place, and are continuing study that you commenced in 2025 or earlier, your fees will be available here before enrolments open for 2026.