Faculty of Business and Law

School: Business

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Accounting I
  • Unit Code

    ACC1100
  • Year

    2015
  • Enrolment Period

    1
  • Version

    1
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online

Description

Accounting I is an introductory course designed to help the student understand, prepare and use financial reports such as a Balance sheet, Income statement and a statement of Cash flows. The unit will cover a range of financial and managerial accounting issues with an appropriate mix of theory and practice. Preparing and using financial reports requires the ability to analyse issues, solve problems, and develop logical, well-formulated answers. Completion of the unit will assist students in developing these skills.

Learning Outcomes

On completion of this unit students should be able to:

  1. Analyse, process, record, and present financial accounting information in a manual format.
  2. Apply cost behaviour analysis for managerial accounting applications.
  3. Prepare an analysis and interpretation of financial statements at an introductory level.
  4. State the basic differences between financial and managerial accounting.
  5. State the concepts, assumptions, principles, and characteristics of conventional financial reporting systems and the role they play in assisting in the preparation of financial reports.

Unit Content

  1. A brief overview of numeracy concepts.
  2. An overview sustainability issues.
  3. The accounting for planning and control in terms of knowledge of types of costs and cost behaviour and application of cost-volume-profit analysis.
  4. The advantages, disadvantages, and comparison between different types of business entities.
  5. The analysis and interpretation of financial reports using ratio techniques.
  6. The application of the accrual basis of accounting.
  7. The calculation of cost of good sold and closing inventory.
  8. The comparison between accrual and cash basis of accounting.
  9. The content, purpose and limitations of financial reporting.
  10. The definition and characteristics of assets, liabilities, revenue, expenses, and equity.
  11. The fundamental concepts, principles, and characteristics of managerial accounting.
  12. The measurement of wealth and profit.
  13. The preparation and purpose of Financial Statements.
  14. The process of recording financial information using debits and credit approach.
  15. The purpose and calculation of depreciation.
  16. The significance of inventory and comparison between perpetual and periodic methods of inventory.
  17. The underlying concepts, principles, and characteristics of financial reporting systems.

Additional Learning Experience Information

On-campus students will attend a weekly a three-hour seminar. Group work will also be used in the seminar setting throughout the semester. The mode of delivery for this unit is through weekly three-hour on-campus seminars. The teaching and learning approach is enhanced through in-class discussions on practical accounting questions, where the skills of working effectively with others (specifically team working, task collaboration and working productively with people from diverse cultures), communicating effectively, critical appraisal and the ability to generate ideas are emphasised. Engaged teaching and learning is applied through practical accounting scenarios, where learners are exposed to industry relevant information, networking opportunities and the awareness and development of sustainability concepts. Students are required to complete individual and group assessment items which are assessed for quality academic and professional standards, including ability to work effectively with others, critical analysis (logical analysis and insight), depth and breadth of coverage, and the ability to research effectively using both academic and contemporary sources. Off-campus students will access the unit through the Blackboard Learning Management System. Off-campus students will be supplied with unit materials (on Blackboard) to review each week and are expected to attempt assigned questions from each topic. Regular online access is required. The teaching and learning approach is student-centered with practical activities to develop employability skills. The teaching and learning approach is enhanced through Blackboard discussions on practical accounting questions, where the skills of working effectively with others (specifically team working, task collaboration and working productively with people from diverse cultures), communicating effectively, critical appraisal and the ability to generate ideas are emphasised.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
TestTest 115%
TestTest 215%
WorkshopCollaborative Workshop Assessments10%
ExaminationExamination60%
ONLINE
TypeDescriptionValue
TestTest 115%
TestTest 215%
ParticipationBlackboard Participation10%
ExaminationFinal Examination60%

Text References

  • ^ Purushothaman, M. (2011). ACC1100: Introduction to accounting. NSW: Pearson.

^ Mandatory reference


Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ACC1100|1|1

Faculty of Business and Law

School: Business

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Accounting I
  • Unit Code

    ACC1100
  • Year

    2015
  • Enrolment Period

    2
  • Version

    1
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online

Description

Accounting I is an introductory course designed to help the student understand, prepare and use financial reports such as a Balance sheet, Income statement and a statement of Cash flows. The unit will cover a range of financial and managerial accounting issues with an appropriate mix of theory and practice. Preparing and using financial reports requires the ability to analyse issues, solve problems, and develop logical, well-formulated answers. Completion of the unit will assist students in developing these skills.

Learning Outcomes

On completion of this unit students should be able to:

  1. Analyse, process, record, and present financial accounting information in a manual format.
  2. Apply cost behaviour analysis for managerial accounting applications.
  3. Prepare an analysis and interpretation of financial statements at an introductory level.
  4. State the basic differences between financial and managerial accounting.
  5. State the concepts, assumptions, principles, and characteristics of conventional financial reporting systems and the role they play in assisting in the preparation of financial reports.

Unit Content

  1. A brief overview of numeracy concepts.
  2. An overview sustainability issues.
  3. The accounting for planning and control in terms of knowledge of types of costs and cost behaviour and application of cost-volume-profit analysis.
  4. The advantages, disadvantages, and comparison between different types of business entities.
  5. The analysis and interpretation of financial reports using ratio techniques.
  6. The application of the accrual basis of accounting.
  7. The calculation of cost of good sold and closing inventory.
  8. The comparison between accrual and cash basis of accounting.
  9. The content, purpose and limitations of financial reporting.
  10. The definition and characteristics of assets, liabilities, revenue, expenses, and equity.
  11. The fundamental concepts, principles, and characteristics of managerial accounting.
  12. The measurement of wealth and profit.
  13. The preparation and purpose of Financial Statements.
  14. The process of recording financial information using debits and credit approach.
  15. The purpose and calculation of depreciation.
  16. The significance of inventory and comparison between perpetual and periodic methods of inventory.
  17. The underlying concepts, principles, and characteristics of financial reporting systems.

Additional Learning Experience Information

On-campus students will attend a weekly a three-hour seminar. Group work will also be used in the seminar setting throughout the semester. The mode of delivery for this unit is through weekly three-hour on-campus seminars. The teaching and learning approach is enhanced through in-class discussions on practical accounting questions, where the skills of working effectively with others (specifically team working, task collaboration and working productively with people from diverse cultures), communicating effectively, critical appraisal and the ability to generate ideas are emphasised. Engaged teaching and learning is applied through practical accounting scenarios, where learners are exposed to industry relevant information, networking opportunities and the awareness and development of sustainability concepts. Students are required to complete individual and group assessment items which are assessed for quality academic and professional standards, including ability to work effectively with others, critical analysis (logical analysis and insight), depth and breadth of coverage, and the ability to research effectively using both academic and contemporary sources. Off-campus students will access the unit through the Blackboard Learning Management System. Off-campus students will be supplied with unit materials (on Blackboard) to review each week and are expected to attempt assigned questions from each topic. Regular online access is required. The teaching and learning approach is student-centered with practical activities to develop employability skills. The teaching and learning approach is enhanced through Blackboard discussions on practical accounting questions, where the skills of working effectively with others (specifically team working, task collaboration and working productively with people from diverse cultures), communicating effectively, critical appraisal and the ability to generate ideas are emphasised.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
TestTest 115%
TestTest 215%
WorkshopCollaborative Workshop Assessments10%
ExaminationExamination60%
ONLINE
TypeDescriptionValue
TestTest 115%
TestTest 215%
ParticipationBlackboard Participation10%
ExaminationFinal Examination60%

Text References

  • ^ Purushothaman, M. (2011). ACC1100: Introduction to accounting. NSW: Pearson.

^ Mandatory reference


Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ACC1100|1|2