BUSN9113 Accounting Fundamentals

Dr Wee Ching Pok

2020

4.5

1 x 3-hour workshop weekly

1 Admission into MACC-Master of Accounting
1a Admission into MAF-Master of Accounting and Finance
1b Admission into MAM-Master of Accounting and Marketing
Must Satisfy: ((1 or 1a or 1b))

BUSN9101 has been successfully completed

Accounting Fundamentals deals with the technical aspects of recording and reporting accounting information for sole trader business entities, focusing on the importance of financial information in business practice. The topic includes introductory financial accounting, introductory management accounting, preparation of financial statements, and elementary financial statement interpretation and analysis.

This topic aims to introduce 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, introductory management accounting, preparation of the three financial statements, and elementary financial statement interpretation and analysis.

On successful completion of this topic, students will be able to:

Explain the accounting equation and analyse the effects of business transactions on the accounting equation
Complete the accounting cycle, including recording business transactions in journals and ledgers and reporting financial performance and financial position for sole traders and retailers
Explain accrual accounting and prepare adjusting entries and reversing entries
Apply technical financial accounting skills to produce financial statements
Describe the accounting controls in relation to cash and prepare a bank reconciliation statement
Account for and manage inventories, accounts receivable and bad debts
Discuss and appraise the professional accounting body ethical standards and apply them to professional and business scenarios
Conduct a basic financial statement analysis and critically evaluate the results

Key dates and timetable

Timetable details for 2020 are no longer published.

This information is from current details held on the Student Information System. Please report any errors or omissions to the relevant College Office.