ACC128 Financial Accounting and Reporting (8)

This subject builds on the ability to analyse and interpret accounting information developed in ACC127 Accounting & Financial Literacy.  Students will use manual and automated accounting information systems to process accounting information and prepare financial reports. All aspects of the financial statement preparation process are covered with a focus on accounting for key assets with reference to International Financial Reporting Standards (IFRS) and their Australian equivalents (AASB). Students will also gain an appreciation for information and communication technology advancements that have impacted business operations and accounting.

Availability

Session 1 (30)
Online
Albury-Wodonga Campus
Session 2 (60)
On Campus
Albury-Wodonga Campus
Bathurst Campus
Port Macquarie Campus
Wagga Wagga Campus
Online
Albury-Wodonga Campus

Continuing students should consult the SAL for current offering details: ACC128. Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject Information

Grading System

HD/FL

Duration

One session

School

School of Business

Enrolment Restrictions

Not available to students who have completed ACC110

Prerequisites

ACC100 or ACC127

Subject Relationships

ACC110 Similar content

Incompatible Subjects

ACC110

Learning Outcomes

Upon successful completion of this subject, students should:
  • be able to record accounting transactions using manual and automated accounting information systems;
  • be able to interpret and apply generally accepted accounting principles;
  • be able to calculate, account for and report values of key assets including: receivables, inventory; and property, plant, equipment;
  • be able to prepare financial statements for reporting entities in accordance with relevant professional and statutory reporting requirements;
  • be able to describe and explain how technologies and accounting systems such as Enterprise Resources Planning and cloud based computing can support data analysis for decision making and risk mitigation; and
  • be able to explain how new technologies may impact the future of accounting and enhance and improve efficiency in communication.

Syllabus

This subject will cover the following topics:
  • Accounting standards
  • Analyse and record business transactions
  • Accounting for inventory
  • Introduction to subsidiary ledgers and special journals
  • Measuring business profit: the adjusting process
  • Completing the accounting cycle
  • Accounting for cash
  • Accounting for receivables
  • Accounting for property, plant and equipment
  • Preparation of financial statements

Indicative Assessment

The following table summarises the assessment tasks for the online offering of ACC128 in Session 3 2021. Please note this is a guide only. Assessment tasks are regularly updated and can also differ to suit the mode of study (online or on campus).

Item Number
Title
Value %
1
Online quiz complete by monday 29 november 2021
0
2
Manual accounting part a - entering transactions
15
3
Computerised accounting
15
4
Manual accounting part b - accounting cycle
20
5
Final exam
50

The information contained in the CSU Handbook was accurate at the date of publication: May 2022. The University reserves the right to vary the information at any time without notice.

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