ACC60005 Accounting Principles

Unit code: ACC60005

Duration: 1 Teaching Period

Contact hours: Recommended 8 hours of study per week

About this unit

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.

Content

  • Discuss and critically evaluate the role that accounting information plays in practice within an environment of business decision making. 
  • Demonstrate a critical understanding of the importance of revenue and costs in decision making. 
  • Rank and decide on the allocation of financial resources for alternative courses of action. 
  • Recognise and select financial information that is relevant to particular business decisions. 
  • Explain and apply techniques related to operational (short-term) decision making. 
  • Construct complex balance sheets, income statement and cash flow statement, and explain the relationships that underlie the preparation of these financial reports.
  • Analyse and interpret financial reports and calculate ratios in order to make meaningful comparisons between businesses and to analyse a business' performance.

This unit is found in Master of Professional Accounting and Graduate Certificate of Professional Accounting.