Accounting Principles
Unit code: HBC606
| Credit points | 12.5 Credit Points |
| Duration | One teaching period |
| Contact hours | 36 hours |
| Campus | Hawthorn |
| Prerequisites | None |
| Corequisites | None |
Related course(s)
A core unit of study in the following programs:
Master of Professional Accounting
Master of Professional Accounting
and an elective unit of study in the Master of Information Technology Business Analysis.
Aims and objectives
To enhance student's ability to develop a sound understanding of the main accounting reports that are the output from accounting systems. To provide students with the skills and techniques to analyse and interpret accounting information together with the expertise to recognise and select financial information relevant to particular business and financial decisions.
On completion of this unit, students should be able to:
- Discuss and critically evaluate the role that accounting inforamtion plays in practice within an environment of business decision making (PO5)
- Demonstrate a critical understanding of the importance of revenue and costs in decision making (PO5)
- Rank and decide on the allocation of financial resources for alternative courses of action (PO5)
- Recognise and select financial information that is relevant to particular business decisions (PO7)
- Explain and apply techniques related to operational (short-term) decision making (PO7)
- Describe and apply the fundamental principles of accrual based accounting to a given transaction data set (PO7)
- Construct a more complex balance sheet, income statement and cash flow statement, and explain the relationships that underlie the prepartaion of these financial reports (PO7)
- Analyse and interpret financial reports and calculate reatios in order to make meaningful comparisons between businesses and to analyse a business' performance (PO1)
- Understand the role of financial and non-financial measures in performance evaluation (PO1).
Teaching methods
5 hours per week in block mode or 3 hours per week evening teaching. Student workload total is expected to be 120 hours.
Generic skills outcomes
This unit aims to achieve the following in our students
- Analysis skills
- Problem solving skills
- Communication skills
- Ability to tackle unfamiliar problems
- Ability to work independently and professionally
Content
- The role of accounting in business
- Understanding costs and revenue in an entity - focus on cost behaviour, cost traceability and pricing issues
- Business planning - budgeting and operational decision making
- Transaction analysis and preperation of financial reports
- Analysis & interpretation of financial reports - incorporating working capital management
- Performance Evaluation of the business unit and its manager
