School: Business and Law

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 Concepts and Applications
  • Unit Code

    ACC6010
  • Year

    2024
  • Enrolment Period

    1
  • Version

    3
  • Credit Points

    20
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online
  • Unit Coordinator

    Dr Lara MOLENDIJK

Description

This unit provides graduates of other disciplines with an introduction to accounting and lays the foundation for further accounting units. Students will gain an understanding of the fundamental accounting concepts and principles and apply them to prepare and interpret financial statements. The unit focuses on developing the technical skills to account for sole proprietorship, partnership, and corporate forms of business entities at an introductory level.

Learning Outcomes

On completion of this unit students should be able to:

  1. Apply appropriate accounting concepts, assumptions and principles to the analysis of business transactions.
  2. Evaluate financial performance of a small business and provide a written report to management.
  3. Generate financial statements for sole proprietorships, partnerships and corporations at an introductory level for decision making purposes.
  4. Process the accounting records for a small business using an accounting information system, with the underlying logic and mechanism of database management systems.
  5. Independently initiate, plan and execute a substantial project to meet agreed deliverables.

Unit Content

  1. Overview of financial accounting as an information system that integrates system documentation techniques
  2. Regulatory environment for financial accounting that includes the roles and purposes of accounting standards
  3. Completion of the accounting cycle, including the rules of double entry, the use of special journals and balance day adjustments to prepare financial statements
  4. Manual and computerised accounting systems that comprise systems design, implementation and controls
  5. Accounting for inventory, including the use of different valuation methods under the periodic and perpetual inventory systems
  6. Accounting for non-current assets, including purchase, sale, revaluation and depreciation of non-current assets
  7. Accounting for partnerships and corporations
  8. Cash management and control, including preparation of bank reconciliation statement
  9. Preparation of cash flow statement using both direct and indirect method showing reconciliation of net cash from operating activities to profit in income statement
  10. Application of accounting concepts and basic computer knowledge for critical analysis and interpretation of financial reports
  11. Accounting for liabilities, including determination of the nature of provisions and contingent liabilities, and analysis of liabilities for decision- making purposes

Learning Experience

ON-CAMPUS

Students will attend on campus classes as well as engage in learning activities through ECU's LMS

JoondalupMount LawleySouth West (Bunbury)
Semester 113 x 3 hour seminarNot OfferedNot Offered
Semester 213 x 3 hour seminarNot OfferedNot Offered
Summer10 x 3 hour seminarNot OfferedNot Offered

For more information see the Semester Timetable

ONLINE

Students will engage in learning experiences via ECU’s LMS as well as additional ECU learning technologies

Additional Learning Experience Information

Critical thinking and problem-solving skills are developed when students apply accounting concepts and techniques to work examples. Communication and technological skills of students are enhanced through completing a group assignment in the unit. The assignment provides students with authentic working experience through simulated accounting roles. It requires students to work collaboratively in small groups to prepare a company's financial statements using computerised accounting software system. Students are expected to apply appropriate accounting concepts and knowledge to analyse and interpret results from the financial statements. Students will provide recommendations for business improvement based on their analysis of the company's business performance by preparing a formal business report. Students are required to prepare an independent self-reflective evaluation report on the process of planning and completing the assignment. Practitioners are invited as guest lecturers to provide students with updates about the accounting profession.

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 School Progression Panel.

ON CAMPUS
TypeDescriptionValue
ParticipationParticipation10%
TestProgression Test15%
ProjectPractice set & reporting using computerised accounting system25%
ExaminationExam50%
ONLINE
TypeDescriptionValue
ParticipationParticipation10%
TestProgression Test15%
ProjectPractice set & reporting using computerised accounting system 25%
ExaminationExam50%

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.

Assessment

Students please note: The marks and grades received by students on assessments may be subject to further moderation. Informal vivas may be conducted as part of an assessment task, where staff require further information to confirm the learning outcomes have been met. All marks and grades are to be considered provisional until endorsed by the relevant School Progression Panel.

Academic Integrity

Integrity is a core value at Edith Cowan University, and it is expected that ECU students complete their assessment tasks honestly and with acknowledgement of other people's work as well as any generative artificial intelligence tools that may have been used. This means that assessment tasks must be completed individually (unless it is an authorised group assessment task) and any sources used must be referenced.

Breaches of academic integrity can include:

Plagiarism

Copying the words, ideas or creative works of other people or generative artificial intelligence tools, without referencing in accordance with stated University requirements. Students need to seek approval from the Unit Coordinator within the first week of study if they intend to use some of their previous work in an assessment task (self-plagiarism).

Unauthorised collaboration (collusion)

Working with other students and submitting the same or substantially similar work or portions of work when an individual submission was required. This includes students knowingly providing others with copies of their own work to use in the same or similar assessment task(s).

Contract cheating

Organising a friend, a family member, another student or an external person or organisation (e.g. through an online website) to complete or substantially edit or refine part or all of an assessment task(s) on their behalf.

Cheating in an exam

Using or having access to unauthorised materials in an exam or test.

Serious outcomes may be imposed if a student is found to have committed one of these breaches, up to and including expulsion from the University for repeated or serious acts.

ECU's policies and more information about academic integrity can be found on the student academic integrity website.

All commencing ECU students are required to complete the Academic Integrity Module.

Assessment Extension

In some circumstances, Students may apply to their Unit Coordinator to extend the due date of their Assessment Task(s) in accordance with ECU's Assessment, Examination and Moderation Procedures - for more information visit https://askus2.ecu.edu.au/s/article/000001386.

Special Consideration

Students may apply for Special Consideration in respect of a final unit grade, where their achievement was affected by Exceptional Circumstances as set out in the Assessment, Examination and Moderation Procedures - for more information visit https://askus2.ecu.edu.au/s/article/000003318.

ACC6010|3|1

School: Business and Law

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 Concepts and Applications
  • Unit Code

    ACC6010
  • Year

    2024
  • Enrolment Period

    2
  • Version

    4
  • Credit Points

    20
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online
  • Unit Coordinator

    Dr Lara MOLENDIJK

Description

This unit provides graduates of other disciplines with an introduction to accounting and lays the foundation for further accounting units. Students will gain an understanding of the fundamental accounting concepts and principles and apply them to prepare and interpret financial statements. The unit focuses on developing the technical skills to account for sole proprietorship, partnership, and corporate forms of business entities at an introductory level.

Learning Outcomes

On completion of this unit students should be able to:

  1. Apply appropriate accounting concepts, assumptions and principles to the analysis of business transactions.
  2. Analyse the financial performance of a small business to inform management decision making.
  3. Generate financial statements for sole proprietorships, partnerships and corporations at an introductory level for decision making purposes.
  4. Process the accounting records for a small business using an accounting information system.
  5. Independently execute a substantial project in accounting to meet agreed deliverables.

Unit Content

  1. Overview of financial accounting as an information system that integrates system documentation techniques
  2. Regulatory environment for financial accounting that includes the roles and purposes of accounting standards
  3. Completion of the accounting cycle, including the rules of double entry, the use of special journals and balance day adjustments to prepare financial statements
  4. Manual and computerised accounting systems that comprise systems design, implementation and controls
  5. Accounting for inventory, including the use of different valuation methods under the periodic and perpetual inventory systems
  6. Accounting for non-current assets, including purchase, sale, revaluation and depreciation of non-current assets
  7. Accounting for partnerships and corporations
  8. Cash management and control, including preparation of bank reconciliation statement
  9. Preparation of cash flow statement using both direct and indirect method showing reconciliation of net cash from operating activities to profit in income statement
  10. Application of accounting concepts and basic computer knowledge for critical analysis and interpretation of financial reports
  11. Accounting for liabilities, including determination of the nature of provisions and contingent liabilities, and analysis of liabilities for decision- making purposes

Learning Experience

ON-CAMPUS

Students will attend on campus classes as well as engage in learning activities through ECU's LMS

JoondalupMount LawleySouth West (Bunbury)
Semester 113 x 3 hour seminarNot OfferedNot Offered
Semester 213 x 3 hour seminarNot OfferedNot Offered
Summer10 x 3 hour seminarNot OfferedNot Offered

For more information see the Semester Timetable

ONLINE

Students will engage in learning experiences via ECU’s LMS as well as additional ECU learning technologies

Additional Learning Experience Information

The assignment provides students with authentic working experience through simulated accounting roles. It requires students to prepare a company's financial statements using a computerised accounting software. Students are then expected to work collaboratively in small groups to apply appropriate accounting concepts and knowledge to analyse and interpret results from the financial statements. Students will provide recommendations for business improvement based on their analysis of the company's business performance by preparing a formal business report. Students are required to prepare an independent self-reflective evaluation report on the process of planning and completing the assignment.

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 School Progression Panel.

ON CAMPUS
TypeDescriptionValue
ExerciseExercise20%
AssignmentAssignment30%
ExaminationExam50%
ONLINE
TypeDescriptionValue
ExerciseExercise20%
AssignmentAssignment30%
ExaminationExam50%

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.

Assessment

Students please note: The marks and grades received by students on assessments may be subject to further moderation. Informal vivas may be conducted as part of an assessment task, where staff require further information to confirm the learning outcomes have been met. All marks and grades are to be considered provisional until endorsed by the relevant School Progression Panel.

Academic Integrity

Integrity is a core value at Edith Cowan University, and it is expected that ECU students complete their assessment tasks honestly and with acknowledgement of other people's work as well as any generative artificial intelligence tools that may have been used. This means that assessment tasks must be completed individually (unless it is an authorised group assessment task) and any sources used must be referenced.

Breaches of academic integrity can include:

Plagiarism

Copying the words, ideas or creative works of other people or generative artificial intelligence tools, without referencing in accordance with stated University requirements. Students need to seek approval from the Unit Coordinator within the first week of study if they intend to use some of their previous work in an assessment task (self-plagiarism).

Unauthorised collaboration (collusion)

Working with other students and submitting the same or substantially similar work or portions of work when an individual submission was required. This includes students knowingly providing others with copies of their own work to use in the same or similar assessment task(s).

Contract cheating

Organising a friend, a family member, another student or an external person or organisation (e.g. through an online website) to complete or substantially edit or refine part or all of an assessment task(s) on their behalf.

Cheating in an exam

Using or having access to unauthorised materials in an exam or test.

Serious outcomes may be imposed if a student is found to have committed one of these breaches, up to and including expulsion from the University for repeated or serious acts.

ECU's policies and more information about academic integrity can be found on the student academic integrity website.

All commencing ECU students are required to complete the Academic Integrity Module.

Assessment Extension

In some circumstances, Students may apply to their Unit Coordinator to extend the due date of their Assessment Task(s) in accordance with ECU's Assessment, Examination and Moderation Procedures - for more information visit https://askus2.ecu.edu.au/s/article/000001386.

Special Consideration

Students may apply for Special Consideration in respect of a final unit grade, where their achievement was affected by Exceptional Circumstances as set out in the Assessment, Examination and Moderation Procedures - for more information visit https://askus2.ecu.edu.au/s/article/000003318.

ACC6010|4|2