Accounting and Financial Management

This subject develops the student’s comprehension of accounting from the foundation level (of information users) into an understanding of accounting processes and practices (from the view of accounting report preparers). This includes the key concepts and theories of financial reporting, transaction recording, preparation of financial reports, and consideration of their implications. Students will become proficient in basic double entry accounting, and demonstrate the practical skills of accounting and in the use of accounting software packages. The skills to critically evaluate financial reports are developed, while management skills related to financial management and performance are both imparted and applied.

Awards offering Accounting and Financial Management

This unit is offered as a part of the following awards:

• Associate Degree in Business
• Bachelor of Arts
• Bachelor of Arts and Bachelor of Applied Social Science
• Bachelor of Arts and Bachelor of Business
• Bachelor of Arts and Bachelor of Education (Secondary)
• Bachelor of Business
• Bachelor of Business and Bachelor of Ministry
• Bachelor of Business and Bachelor of Theology
• Diploma of Arts
• Diploma of Business and Diploma of Entrepreneurship
• Diploma of Business and Diploma of Leadership
• Diploma of Business and Diploma of Ministry
• Diploma of Chaplaincy
• Diploma of Chaplaincy and Diploma of Leadership
• Diploma of Chaplaincy and Diploma of Ministry
• Diploma of Entrepreneurship and Diploma of Leadership
• Diploma of Entrepreneurship and Diploma of Ministry
• Undergraduate Certificate in Arts
• Undergraduate Certificate in Business Studies

Unit Content

Outcomes

1. Describe and discuss the key concepts and theories of financial reporting;
2. Demonstrate an ability to effectively use accounting information for the control and management of financial resources;
3. Explain and apply the accounting treatment for basic business transactions for different types of businesses (including double entry bookkeeping);
4. Use accounting software to record business transactions;
5. Prepare and interpret a basic set of financial statements including Statement of Financial Position, Statement of Comprehensive Income and Statement of Cash Flows;
6. Critically analyse alternate financial reporting choices;
7. Explore and analyse the implications of financial accounting and the impact of financial decisions on the financial reports;
8. Identify, explain and critically analyse accounting concepts and assumptions, including the application of appropriate accounting treatment to record basic business transactions to illustrate the activities of different types of businesses.

Subject Content

1. Accounting Environment
2. The Accounting Information System
3. Accrual Accounting Concepts
4. Preparing the Financial Statements
5. Internal Control and Managing Cash and Receivables
6. Recording, Analysing, Managing and Reporting Operations –1
7. Recording, Analysing, Managing and Reporting Operations -2
8. Accounting Subsystems
9. Recording, Analysing, Managing and Reporting Non-Current Assets
10. Recording, Analysing, Managing and Reporting Liabilities
11. Recording, Analysing, Managing and Reporting Equity
12. Analysing, Managing and Reporting Cash Flows & Course Review

This course may be offered in the following formats

• Face-to-Face
• Distance / Global Online

Please consult your course prospectus or enquire about how and when this course will be offered next at Alphacrucis University College.

Assessment Methods

• Quizzes / Online Exams (15%)
• Practical Accounting exercise (15%)
• Essay (20%)
• Exam (50%)

Prescribed Text

Tyler, J., Goodwin, N., and Alderman, C.W. (2019). ACCT 3 Financial (3rd Asia-Pacific ed.). South Melbourne: Cengage Learning Australia.

Check with instructor each semester before purchasing the text book to confirm.