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Unit (2019)

Information on this page, including unit offerings, is from the 2019 academic year.

Introduction to Accounting (BUS160)

Organisational Unit Business
Credit Points 3
Description This unit provides an introduction and broad overview of fundamental financial and management accounting concepts. The unit is suitable for anyone undertaking a business/commerce degree as it introduces students to concepts and practices necessary for a basic understanding of business reports. The topics addressed in financial accounting include the accounting equation, accrual accounting, relevant accounting standards, and financial statement analysis. Management accounting topics include an introduction to budgeting, CVP analysis and short-term decision making.
Unit Learning Outcomes On successful completion of the unit you should be able to:
1. Demonstrate understanding of the accounting environment and the role of accounting information in management planning and decision making by people internal and external to the business as well as the ethics required of professional accountants.
2. Apply appropriate accounting concepts to analyse and record business transactions and in managing and reporting business working capital.
3. Prepare financial statements and demonstrate the relationships of these statements: Balance Sheet, Income Statement and statement of changes in equity and the Statement of Cash Flows.
4. Apply tools to analyse and interpret financial statements as well as understanding some of the issues facing the readers of financial statements.
5. Identify and apply the costs and revenues relevant to business decision making and the role of accounting in sustainable business.
Timetabled Learning Activities Workshops: 2 hours per teaching week
Unit Learning Experiences The unit is delivered using blended learning design features with core unit materials provided in a digital format, followed up by small class knowledge application and skills development. This is enhanced by self directed learning to further develop skills and application of knowledge to practical and current issues.
Assessment 15% Workshop Activities
15% In-Class and 5% Online In-term test;
15% Major Assignment
50% Final Examination
Prerequisites Nil.
Exclusions Students who have completed BUS170 Foundations of Accounting may not enrol in this units for credit
Internet Access RequirementsMurdoch units normally include an online component comprising materials, discussions, lecture recordings and assessment activities. All students, regardless of their location or mode of study, need to have access to and be able to use computing devices with browsing capability and a connection to the Internet via Broadband (Cable, ADSL or Mobile) or Wireless. The Internet connection should be readily available and allow large amounts of data to be streamed or downloaded (approximately 100MB per lecture recording). Students also need to be able to enter into online discussions and submit assignments online.


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