Course overview
This course introduces students to the fundamentals of financial accounting practice. Students' understanding of key accounting concepts, recording and measuring methods, and disclosure requirements will be developed. There is a focus on understanding the conceptual framework principles which sets students up for success in later accounting courses. Students will learn the process of identification, measurement, recording and communication of financial information through general purpose financial reports using the accrual bases of accounting. Specific issues relating to inventory, non-current assets, liabilities, and equity are examined. Research skills are introduced and students will perform practical research on an Australian stock exchange listed company.
Course learning outcomes
- Identify, measure, record and classify financial information for the purpose of preparing general purpose financial statements in accordance with the Conceptual Framework and Australian Accounting Standards.
- Conduct research of a practical nature by sourcing data and using basic analysis techniques to make informed judgements.
- Communicate accounting information and research findings in a professional manner.
- Use accounting software to process basic accounting transactions.