ACF1100 Introduction to financial accounting

When you finish this unit, you should be able to:

1. 1

   FIRST SEMESTER: identify and analyse measurement systems and their relationship with the accounting Conceptual Framework

   SECOND SEMESTER: explain fundamental accounting concepts and rules by justifying how and why economic transactions are recorded in accounting systems

2. 2

   FIRST SEMESTER: apply the principles of double-entry and accrual accounting

   SECOND SEMESTER: apply the Conceptual Framework and selected Accounting Standards to record transactions and prepare basic financial statements

3. 3

   FIRST SEMESTER: describe and apply definitions and recognition criteria for assets, liabilities, incomes and expenses as specified in the Conceptual Framework

   SECOND SEMESTER: interpret accounting data to derive and communicate meaningful and relevant business insights

4. 4

   FIRST SEMESTER: apply principles of selected Accounting Standards and prepare financial statements for business entities including service and retail organisations

   SECOND SEMESTER: collaborate effectively in team-based accounting tasks to contribute disciplinary knowledge and support collective problem solving

5. 5

   FIRST SEMESTER: apply critical thinking, problem solving, and communication skills within corporate financial reporting topics.

   SECOND SEMESTER: analyse accounting data to identify issues and support reasoned conclusions in business contexts.