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Accounting
These studies are provided by academic units within the Faculty of Business and Economics.
General summary
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Pair A (offered at Enhancement Centres) | Pair B (offered at tutorial centres and by off-campus learning) |
| Subjects Pair A and pair B will each constitute an approved Enhancement Study |
- AFC1000 Principals of Accounting and Finance (semester 1)
- AFC1030 Introduction to Financial Accounting (semester 2)
See: Subject outlines for Accounting
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- AFW1000 Principals of Accounting and Finance (semester 1)
- AFW1002 Introduction to Financial Accounting (semester 2)
See: Subject outlines for Accounting
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| Unit coordinators |
John Gerrand
Department of Accounting and Finance
Telephone: (03) 9905 2439
Fax: +61 3 9905 5475
Email: john.gerrand@buseco.monash.edu.au |
Les Hardy
Department of Accounting and Finance
Telephone: (03) 9902 6652
Fax: +61 3 9902 6524
Email: les.hardy@buseco.monash.edu.au |
| Background of students (both pairs) |
Preparatory study: Accounting
- Completion of units 3 and 4 in Year 11 OR
- Concurrent enrolment in units 3 and 4 in Year 12
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| Study mode option |
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- Off-campus learning (distance
education)
- Tutorial centre
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Location of classes
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Enhancement centres
Centre: Box Hill High School
Location: Box Hill
Time: Thursday 4pm
Centre: Caulfield Grammar School
Location: Caulfield Campus
Time: TBC
Centre: St Bede's College
Location: Mentone
Time: Tuesday 4pm
Centre: Melbourne Grammar School
Location: Melbourne
Time: Wednesday 5pm
Centre: Scotch College
Location: Hawthorn
Time: Wednesday 4.30pm
Centre: Monash University
Location: Clayton Campus
Time: TBC
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Tutorial centres
Centre: Kurnai College
Location: Churchill
Centre: Mildura Senior College
Location: Mildura
Is your school interested in becoming an Enhancement Centre? Email us at enhancement@adm.monash.edu.au
If five students from one school should choose to undertake accounting Enhancement units, that school may be considered as a potential tutorial centre.
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| Class requirements |
Classes at enhancement centres will run for about two hours per week after school hours. Students may be required to attend up to two sessions per semester at the university's Clayton campus.
Classes at tutorial centres will run for one hour per week after school hours. Students are also welcome to attend any weekend schools that may be scheduled.
Both AFW1000 and AFW1030 are supported by a website.
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| Credit arrangements |
Students who successfully complete one of the above pairs of units and are subsequently successful in gaining a place in
Bachelor of Economics
Bachelor of Commerce
Bachelor of Business (specialised degrees) or
Bachelor of Accounting
will receive credit transfer of a first-year sequence in accounting, allowing them to proceed to second-year-level studies in accounting. Other degrees such as the Bachelor of Arts or the Bachelor of Science may allow credit for first year Accounting.
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| Other degrees |
Other degrees of the university (such as the Bachelor of Arts and Bachelor of Science) which allow credit transfer for first-year accounting studies will offer similar credit transfer.
See also: Economics
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Pair A
AFC1000 Principals of Accounting and Finance
Topics covered in this unit include the accounting equation, general purpose financial reports, cash and accrual accounting, adjustments, financial statement analysis, interpreting information for managers to use in planning, decision making and control, financial mathematics, capital budgeting and investments.
Assessment
- Assignment: 10%
- Class test: 15%
- Presentation and participation: 15%
- Examination: (3 hours) 60%
Prescribed textbook
- Carey, P. (2009). Principles of accounting and finance. Brisbane, QLD: John Wiley.
NB. available through the campus bookshops
AFC1030 Introduction to Financial Accounting
This unit will provide a conceptual framework for accounting; the definition and recognition criteria for assets, liabilities, equity, income and expenses (including leases, inventory valuation, non-current assets, depreciation and impairment); the form and content of financial reports for partnerships and companies; and evaluate alternative measurement systems (historical cost, modified historical cost and fair value accounting).
Assessment
- Within semester assessment: 35%
- Examination (3 hours): 65%
Pair B
AFW1000 Principals of Accounting and Finance
Topics covered include the accounting equation, general purpose financial reports, cash and accrual accounting, adjustments, financial statement analysis, interpreting information for managers to use in planning, decision making and control, financial mathematics, capital budgeting and investments.
Assessment
- Within semester assessment: 40%
- Examination (3 hours): 60%
- Students must satisfactorily complete both assessment components
Prescribed textbook
- Peirson, G, and Ramsay, A, Financial Accounting: An Introduction, 4th edn, Pearson Education, Australia, 2006.
AFW1002 Introduction to Financial Accounting
This unit will cover various aspects of financial accounting and builds on the principles introduced in AFW1000. Aspects associated with transaction reporting and the preparation of financial statements investigated include: the recording of inventory in a retail context, the use of control accounts, the role of specialised journals, a range of balance day-adjustments, reversing entries and account reconstruction. The unit also focuses on internal control procedure and computerised accounting. The definition, recognition and disclosure criteria of financial statement elements are explored as well as the cost and fail value measurement of various financial statement elements.
Assessment
- Within semester assessment: 30%
- Examination (3 hours): 70%
Prescribed textbook
- Peirson, G., and Ramsay, A. (2009). An introduction to financial accounting. Melbourne: Pearson-Prentice-Hall. (Customised Book – ISBN – 978 1 4425 19770)
- Accounting handbook (2009), CPAs, Melbourne, Pearson-Prentice-Hall.
Computer Practice Set
- Tan, R.C.W. (2008). Sweet Dreams: MYOB, Accounting Plus V17 –an extended approach. Sydney: Pearson Education Australia.
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