ACCT100 Introduction to Accounting
Teaching organisation12 weeks or equivalent
Unit description and aim
Without knowledge of ethical accounting and financial analysis skills the business world could collapse. This unit will provide a non-specialist grounding in accounting and financial management so that you can appreciate the financial dimensions of decisions within business. Moreover, the unit considers corporate social responsibility within the context of financial management and sustainability in the promotion of stewardship for social good. The unit will enable you to understand the impact of economic transactions on a business' financial and operating capability as well as to recognise the use of accounting information in decision making without getting bogged down in the mechanics of the system. Building on this, you will develop fundamental financial planning and forecasting skills so that you can utilise these skills in life or in business. The aim of this unit is to introduce accounting and financial management skills in a non-technical way so you will be able to develop financial and accounting literacy as a life skill.
On successful completion of this unit, students should be able to:
LO1 - Explain sustainability accounting and illustrate how it can be used to enhance the stewardship function of corporate social responsibility (GA2, GA5).
LO2 - Show how varying basic economic transactions affect the accounting equation by producing a firm’s financial statements that report financial position and performance (GA5).
LO3 - Interpret budgeting and forecasting concepts and make use of associated tools for financial planning and decision-making purposes (GA5).
LO4 - Apply Cost Volume Profit analysis to appraise competing business strategies and make recommendations to stakeholders. (GA5, GA8)
LO5 - Show knowledge of communication theory and information literacies by applying relevant knowledge, skills and judgement for business and academic audiences (GA5, GA9).
GA2 - recognise their responsibility to the common good, the environment and society
GA5 - demonstrate values, knowledge, skills and attitudes appropriate to the discipline and/or profession
GA8 - locate, organise, analyse, synthesise and evaluate information
GA9 - demonstrate effective communication in oral and written English language and visual media
Topics will include:
- Decision making and the nature and role of accounting
- Measuring and reporting accounting information
- Corporate social responsibility and sustainability accounting
- Using communicating effectively with different target audiences
- Fundamental Finance
- Financial planning for business purposes
- Cost-volume-profit analysis, relevant costs, and cost-benefit analysis
- Business planning
Learning and teaching strategy and rationale
This unit takes an active learning approach to guide students in the analysis and synthesis of knowledge associated with managing money and finances. Students can explore the knowledge base through online learning material and a series of workshops. These workshops are designed to support students to actively participate in the construction and synthesis of this knowledge both individually and in groups. By participating in these workshops, students will systematically develop their understanding of the how and why management is critical to the achievement of sustainable business outcomes. This unit takes an experiential approach to support students by tapping into the knowledge of other participants, sharing stories and insights and reflecting on experiences. This approach is designed to interest students who prefer to learn within a social environment. The following resources will be accessible to students online:
- unit outline;
- assessment information, submission, marking and return of results/feedback;
- learning resources (readings, direction to further sources of online information, lecture slides, audio and video recorded material); and
- Interactive online self-study activities and quizzes
Mode of delivery: This unit is offered in different modes. These are: “Attendance” mode, “Blended” mode and “Online” mode. This unit is offered in three modes to cater to the learning needs and preferences of a range of participants and maximise effective participation for isolated and/or marginalised groups.
In a weekly attendance mode, students will require face-to-face attendance in specific physical location/s. Students will have face-to-face interactions with lecturer(s) to further their achievement of the learning outcomes. This unit is structured with required upfront preparation before workshops, most students report that they spend an average of one hour preparing before the workshop and one or more hours after the workshop practicing and revising what was covered. The online learning platforms used in this unit provide multiple forms of preparatory and practice opportunities for you to prepare and revise.
In a blended mode, students will require face-to-face attendance in blocks of time determined by the School. Students will have face-to-face interactions with lecturer(s) to further their achievement of the learning outcomes. This unit is structured with required upfront preparation before workshops. The online learning platforms used in this unit provide multiple forms of preparatory and practice opportunities for you to prepare and revise.
This unit uses an active learning approach to support students in the exploration of the essential knowledge associated with managing money. Students can explore the essential knowledge underpinning this unit and develop knowledge in a series of online interactive lessons and modules. Students are given the opportunity to attend facilitated synchronous online seminar classes with other students and participate in the construction and synthesis of knowledge, while developing their knowledge. Students are required to participate in a series of online interactive workshops which include activities, knowledge checks, discussion and interactive sessions. This approach allows flexibility for students and facilitates learning and participation for students with a preference for virtual learning.
Assessment strategy and rationale
Assessment is an integral part of the learning process. Assessment tasks in BUSN104 are aimed at measuring and developing student’s achievement of both the learning outcomes and graduate attributes noted above. In this unit there are multiple forms of formative assessment for a student to assess their progress against the learning objectives as well as three (3) main pieces of summative assessment. Such assessment may include, but are not limited to: quizzes, essays, reports, examinations, or case studies. The same assessment strategy applies to all modes of delivery. Online delivery will include an online exam for the final assessment.
Overview of assessments
|Brief Description of Kind and Purpose of Assessment Tasks||Weighting||Learning Outcomes||Graduate Attributes|
Assessment 1: Report
Students will research, analyse and explain sustainability accounting for corporate social responsibility (GA5) and formally communicate (GA9, GA10) how accounting can be used to enhance the stewardship function for social good (GA2).
Submission Type: Individual
Assessment Method: Report (app. 1500 words)
Artefact: Written Report
GA2, GA5, GA9
Assessment 2: Online Quiz
Students will solve and answer problem-based and/or case-study based accounting scenarios to demonstrate how varying economic events affect accounting (GA5, GA8).
Submission Type: Individual
Assessment Method: Online Quiz
Artefact: Digital response to online quiz
Assessment 3: Final Exam
Students will solve and answer conceptual and theoretical type questions and/or numerical calculation type questions. The purpose of the final assessment is to determine students’ understanding of how varying economic events affect accounting. The assessment task requires students to apply their learned knowledge of forecasting and financial planning. as well as cost volume profit analyses (GA5, GA8).
Submission Type: Individual
Assessment Method: Set of tasks
Artefact: Online assessment
LO2, LO3, LO4
Representative texts and references
Attrill, P 2017. Accounting and Finance for Non-Specialists, 10th edn, Pearson, Melbourne.
Birt, J, Chalmers, K, Maloney, S, Brooks, A, Oliver, J. & Bond D. 2020. Accounting: Business Reporting for Decision Making, 7th edn. John Wiley and Sons, Milton.
Dwyer, J 2020, Communication for Business and the Professions: Strategies and Skills, 7th edn, Pearson, Melbourne.
Hoggett, J, Medlin, J, Chalmers, K, Beattie, C, Hellmann, A & Maxfield J 2017, Accounting, 10th edn, John Wiley & Sons, Milton.
Nobles, T, Mattison, B, Matsumura, E, Best, P, Fraser, D, Tan, R. & Willett, R 2016 Horngren’s Accounting, 8th edn, Pearson, Melbourne.