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Financial Accounting (BUSA90001)
Graduate courseworkPoints: 12.5On Campus (Parkville)
About this subject
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Accounting is the “language of business,” and accounting information is the basis for performance measurement, business contracting, and most operating, investing, and financing decisions that managers make. Financial accounting information affects how individuals outside a company perceive that company, and by extension, the resources available to the company to accomplish its objectives. An understanding of and the ability to use financial accounting information will be essential to your success as a professional manager. This subject is designed to provide students with foundation knowledge about external financial reporting by for-profit entities. This foundation knowledge not only provides the basis for correctly interpreting and using accounting information provided internally to managers for managerial decision making, but also provides the basis for using financial statements for more externally-focused judgments and decisions (e.g., assessing a firm’s intrinsic value or to assess a firm’s strengths and weaknesses relative to competitors).
Intended learning outcomes
On completion of this subject, students should be able to:
- Read and interpret a company's financial statements.
- Analyse a company's financial statements and draw relevant inferences from the analysis to assist in making decisions
- Discuss fundamental accounting concepts and issues using everyday language.
- Appreciate the measurement and recognition difficulties inherent in financial reporting, as well as the role of judgment in the preparation and interpretation of financial statements.
Last updated: 8 November 2024