| Effective Term: | 2024/05 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Accounting and Finance |
| Unit ID: | BUACC6901 |
| Credit Points: | 15.00 |
| Prerequisite(s): | Nil |
| Co-requisite(s): | Nil |
| Exclusion(s): | (BUACC5901) |
| ASCED: | 080101 |
| Other Change: | |
| Brief description of the Unit |
This course develops students understanding of the nature and purpose of accounting, and the environment within which accounting information is prepared and used. Practical and theoretical exercises are used to master the principles to determine when an accounting event is recognised, and the system of recording that is used. The course covers the ethical responsibility of preparers and auditors of financial statements, and how market-based economic systems rely on having financial reports that are true and fair. The forces that have led to increasing internationalisation of accounting regulation are examined. The use of accounting information for internal financial management is examined through a consideration of topics such as cost-volume-profit analysis, capital project evaluation, and alternative debt/equity financing strategies. Budgets are studied as a means for planning and controlling business activity. Each topic is introduced by a critical review of key theoretical concepts that are then applied to practical settings. |
| Grade Scheme: | Graded (HD, D, C, P, MF, F, XF) |
| Work Experience Indicator: |
| No work experience |
| Placement Component: | |
| Supplementary Assessment:Yes |
| Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment |
| Course Level: |
| Level of Unit in Course | AQF Level(s) of Course | | 5 | 6 | 7 | 8 | 9 | 10 | | Introductory | | | | |  | | | Intermediate | | | | | | | | Advanced | | | | | | |
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| Learning Outcomes: |
| Knowledge: |
| K1. | Identify the issues and consequences in determining the structure within which to operate a business or other organisation, and the agency relationship existing between the managers and owners of a company |
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| K2. | Comprehend basic ethical frameworks, and the practical importance of ethics and corporate governance in accounting and in business, and how accounting regulation is being increasingly internationalised |
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| K3. | Identify the fundamental principles applied in identifying, measuring and recording financial transactions, and the structure of the General Purpose Financial Reports |
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| K4. | Comprehend the wealth of information available in General Purpose Financial Reports and recognise the element of subjectivity involved in processing transactions upon which these reports are based |
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| K5. | Evaluate a range of investment analysis techniques, financing decisions, budgeting, and cost-volumeprofit analysis |
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| Skills: |
| S1. | Analyse a business context and use the information obtained to make an informed decision as to the most suitable structure within which to operate |
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| S2. | Analyse business events to determine whether a transaction has occurred, its timing, the accounting elements that have been affected, and resolve any measurement issues that arise |
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| S3. | Reflect critically on the role of accounting and finance within organisations |
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| Application of knowledge and skills: |
| A1. | Identify the limitations that exist relating to financial accounting and management accounting information |
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| A2. | Formulate information from diverse sources into a structure so that it might be analysed and recommendations made based on the application of accounting and finance knowledge and skills |
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| A3. | Undertake a critical and systematic evaluation of the efficiency, liquidity, capital structure, and investment performance of a publicly listed company, and communicate the findings in a way that can be understood by a non-specialist audience |
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| Unit Content: |
•The structures available for business organisations
•Ethics and corporate governance
•Financial accounting. Topics include recording transactions, issues of measurement, the Balance Sheet, the Income Statement, and the Statement of Cash Flows |
| Graduate Attributes: |
| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1, K2, K3, K4 S1, S2, A1 | Review of selected topics, based on class activities, reading, and preparation of responses to set questions. The task will require students to observe, reflect and critically analyse a situation with the application of theory. | Written Task or Presentation | 10 - 20% | | 2. | K3, K4 S1, S3 A1, A2, A3 | Group case study and/or essay requiring research and the preparation of calculations and/or written responses. | Written Task | 20-40% | | 3. | K1, K2, K3, K4 K5 S1, S2, S3 A1, A2, A3 | Examination | Exam | 40 - 50% |
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