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Undergraduate - UnitAFF1121 - Introduction to financial accounting

6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered, or view unit timetables.

Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Accounting and Finance
Offered	Caulfield First semester 2013 (Day) Caulfield Second semester 2013 (Day)

Synopsis

This unit is concerned with developing a conceptual and practical accounting framework for financial reporting through the process of collecting, analysing, classifying, measuring, recording, presenting and interpreting financial information and developing financial reports for service and trading entities from both a manual and a computer-based system.

Outcomes

The learning goals associated with this unit are to:

explain and discuss generally accepted accounting principles (GAAP), measurement systems and the accounting conceptual framework
describe and apply definitions and recognition criteria for assets, liabilities, equities, expenses and income as specified in the conceptual framework
prepare financial statements for accounting entities including service and retail organisations using generally accepted accounting principles
apply principles of selected accounting standards
apply critical thinking, problem solving and procedures to individual and/or group activities dealing with financial accounting, and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFF1121.