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Unit (2020)

Information on this page, including unit offerings, is from the 2020 academic year.

Foundations of Accounting (BUS1701)

Organisational Unit Business
Credit Points 3
Availability DUBAI-ISC: TMD-internal
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 (12 weeks x 4 hours face-to-face learning per teaching week)
1 x 2-hour Lecture per week
1 x 1-hour Tutorial per week
1 x 1-hour Workshop per week
All offerings of this unit include the equivalent of 30 hours of structured learning.
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 issue.
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 successfully completed BUS160 Introduction to Accounting or BUS170 Foundations of Accounting or BUS163 Introduction to Accounting may not enrol in this unit for credit.
Appears in these Courses/Majors:
see individual structures for context
Diploma of Business [New in 2019]
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.


Unit Coordinator
Miss Mellisa Lewis
Lecturer In Accounting

Murdoch Campus
t: 9360 2155
e: m.lewis@murdoch.edu.au
o: 512.2.011 - Murdoch Business School, Murdoch Campus
Unit Contacts

Miss Mellisa Lewis
Lecturer In Accounting

Murdoch Campus
t: 9360 2155
e: m.lewis@murdoch.edu.au
o: 512.2.011 - Murdoch Business School, Murdoch Campus
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