• Semester 1 (Day)
• Semester 1 (External)
• Semester 2 (Day)
• Semester 2 (External)
• Semester 3 (External)

Synopsis

The  unit 51002 provides the necessary introductory accounting  skills
and  knowledge to enable students to undertake all majors  offered  by
the  Faculty of Commerce. A mastery of the material contained in 51002
is  critical  for successful further study in Accounting, Finance  and
Banking.   It  is recommended that those students who  do  not  intend
undertaking  further  study within the areas  of  Accounting,  Finance
and/or Banking should study unit 51190, 'Accounting Concepts'.

51002  introduces students to the conceptual and regulatory  framework
of  accounting.  This  includes  the environment  of  accounting,  the
accounting elements, the accounting equation, transaction analysis and
recording, trial balance and reports. Particular emphasis is placed on
the  recording,  measurement and control of  the  major  asset  groups
(cash,  inventories, accounts receivable and non-current assets),  and
liabilities.  An introduction to various business structures  is  also
provided  (ie: sole trader, partnerships, and companies). The analysis
of financial information is also addressed throughout the course.