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Term 1 - Online
Term 3 - Online
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This subject is designed to enable students to enhance their ability to prepare and use financial information in decision making – crucial skills in business. The subject begins by examining core concepts in accounting and developing students’ ability to prepare financial reports. The subject then explores how that knowledge and information may be used to inform decision making by diverse stakeholders in a variety of business contexts including via the preparation of a business case to support a major financial decision and through consideration of various current issues faced in accounting and business.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Describe the foundation elements of accounting including assets, liabilities, revenue, expenses and equity
- Analyse and correctly record business events and transactions using accounting frameworks
- Describe the nature and purpose of financial statements and accounting reports
- Accurately prepare the principal financial statements from business transactions and events
- Discuss and explain the differences between the Income Statement and Statement of Cash Flows
- Discuss the limitations of accounting reports when making business decisions
- Use accounting reports to make and support business decisions
- Understand the differences between financial and managerial decision making and the different accounting information that supports these decisions.
- Understand emerging issues within accounting
In respect of issues related to accounting, to:
- Think critically about financial and managerial accounting theory, tools and techniques;
- Evaluate, analyse and interpret relevant accounting information;
- Apply financial statement analysis theory and practice;
- Utilise problem solving skills;
- Articulate responses, either orally or in written form.
In addition, students will have enhanced their ability to:
- Listen to others dispassionately and tolerantly;
- Engage in discussion and, where appropriate defend a position;
- Offer constructive criticism.
Last updated: 11 February 2021