Information on this page, including unit offerings, is from the 2020 academic year.
|Organisational Unit||Office of the Pro Vice Chancellor Education|
|Description||FDN016 Accounting provides an introduction to the operation of financial accounting systems. Students will explore the accounting process predominantly for sole traders who buy and resell goods or provide services. They will study some of the principles of Accounting, the Accounting Equation, entering business transactions into Journals; including balance day Adjustments and Closing entries, posting to Ledgers, extracting Trial Balance and preparation of Financial Statements. Cash management including Bank Reconciliation will also be practised.|
|Unit Learning Outcomes|| Upon successful completion of this unit, you will be able to:
1. understand the foundations and importance of Accounting;
2. apply basic accounting concepts and techniques in analysing business transactions, preparing General Journal entries, posting to General Ledgers and extracting the Trial Balance;
3. identify the purpose of Balance Day Adjustments; recognise the transactions and process them
through the General Journal as well as on a Worksheet;
4. understand the need for and preparation of Income Statements, Balance Sheets, Statement of Changes in Equity and Cash Flow Statements
as well as completing the cycle by preparing Closing Journal entries and Post Closing Trial Balance;
5. recognise elements for management control over cash, and develop the Cash Control system of Bank Reconciliation
This unit provides the opportunity for you to achieve the following:
· foundation knowledge in one of three discipline areas. The specialist units are electives and allow you to choose the focus for your studies in anticipation of your subsequent university studies;
· organise, analyse, compare, plan and apply this knowledge to problem solving situations found within the classroom and workplace and work effectively with others.
|Timetabled Learning Activities||Formal Classes: 4 hours
All offerings of this unit include the equivalent of 30 hours of structured learning.
|Appears in these Courses/Majors:
see individual structures for context
|Internet Access Requirements||Murdoch 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.|
Mr Nathan Tozer
TNE Liaison Support Officer
t: 9360 6877
o: 460.3.006A - Economics, Commerce and Law, Murdoch Campus