ACCT11079 - Basic Principles of Accounting

Showing: 2026 HE Term 1
General Information

Unit Synopsis

This course provides an introduction to the conceptual framework of financial accounting, and shows how these concepts are applied in recording, classifying, and reporting of business transactions in the traditional historical cost system of accounting. These basic accounting concepts are then used in cash management, merchandising, receivables, inventory management, and accounting for non-current assets and liabilities and partnerships. MYOB accounting is also used in this course.

Details

Level Undergraduate
Unit Level 1
Credit Points 6
Student Contribution Band SCA Band 4
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites Only students enrolled in CG35, CG36, CG39 and CF91 are able to enrol in this course

Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 1 - 2026


Attendance Requirements

All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Assessment Overview

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Assessment Tasks

Assessment Task Weighting
1. Written Assessment 20%
2. Online Quiz(zes) 20%
3. Examination 50%
4. Practical Assessment 10%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%).

Consult the University's Grades and Results Policy for more details of interim results and final grades

Past Exams

Previous Feedback

No previous feedback available

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Unit Learning Outcomes

On successful completion of this unit, you will be able to:

  1. Understand the objectives and principles underlying financial reporting
  2. Prepare and use classified financial statements
  3. Record transactions, prepare and adjust a trial balance and set up a chart of accounts
  4. Understand computerised and manual systems of accounting
  5. Identify the characteristics of an effective system of internal control
  6. Make ethical judgements in business
  7. Use financial ratios to evaluate a firm's financial position
  8. Identify the profit effects of inventory cost methods
  9. Account for current and non-current assets and liabilities
Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
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1 - Written Assessment • • • • •
2 - Online Quiz(zes) • • •
3 - Examination • •
4 - Practical Assessment • • • • • •
Alignment of Graduate Attributes to Learning Outcomes
• Introductory Level
• Intermediate Level
• Graduate Level
Graduate Attributes Learning Outcomes
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1 - Communication • • • • • • • • •
2 - Problem Solving • • • • • • •
3 - Critical Thinking • • • • • • • •
4 - Information Literacy • • • • • • •
6 - Information Technology Competence •
8 - Ethical practice • • • • • • • •
Alignment of Assessment Tasks to Graduate Attributes
• Introductory Level
• Intermediate Level
• Graduate Level
Assessment Tasks Graduate Attributes
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