This unit introduces you to key concepts of financial accounting and supports you to apply these concepts to various elements of accounting. You will also examine financial statements and how they are analysed and interpreted for effective decision making by both internal and external users. This unit prepares you for further accounting units.
|Student Contribution Band||SCA Band 4|
|Fraction of Full-Time Student Load||0.125|
|Pre-requisites or Co-requisites||
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|
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).
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.
|1. Online Quiz(zes)||10%|
|2. Practical Assessment||40%|
|3. Online Test||50%|
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
All University policies are available on the Policy web site, however you may wish to directly view the following policies below.
This list is not an exhaustive list of all University policies. The full list of policies are available on the Policy web site .
Term 1 - 2022 : The overall satisfaction for students in the last offering of this course was 77.78% (`Agree` and `Strongly Agree` responses), based on a 22.50% response rate.
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.
On successful completion of this unit, you will be able to:
ACCT11081 satisfies several learning outcomes specific to external accreditation, which are:
|LO1: Explain the different business structures|
|LO2: Explain the following in relation to financial accounting: a)The role and purpose of accounting, accounting processes and systems; b)The purpose of financial statements; c) The role and purpose of accounting standards; d)The regulatory environment for financial reporting|
|LO3: Record transactions to illustrate the activities of different types of businesses, including sole trader, partnerships and straightforward corporate/company accounts|
|LO4: Explain and apply the accounting treatment to record basic business transactions and other events for different types of businesses using the principles of double entry accounting|
|LO5: Use accounting software to record business transactions|
|LO6: Outline and explain the accounting principles and concepts underlying accounting and financial reporting including the principles of the Conceptual Framework of Accounting and generally accepted accounting principles.|
|Assessment Tasks||Learning Outcomes|
|1 - Online Quiz(zes)||•||•|
|2 - Practical Assessment||•||•||•|
|3 - Online Test||•||•||•||•||•|
|Graduate Attributes||Learning Outcomes|
|1 - Communication||•||•|
|2 - Problem Solving||•||•||•||•|
|3 - Critical Thinking||•||•|
|6 - Information Technology Competence||•|
|Assessment Tasks||Graduate Attributes|