Accounting Systems and Practices (11212.1)

This unit introduces students to the techniques and processes required to produce financial statements for a simple entity. Topics include the use of accrual accounting in preparing journal entries for a range of transactions and events, as well as utilising principles of internal controls. These topics provide the basis necessary to complete the next unit in the financial accounting stream.

Learning outcomes

After successful completion of this unit, students will be able to:
1. Analyse and apply financial accounting principles and concepts when dealing with structured information;
2. Apply the use of accounting controls, journals and systems;
3. Prepare financial reports for simple entities using accounting software; and
4. Reflect on the professional skills that accountants have to possess and display.

Graduate attributes

1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
1. UC graduates are professional - work collaboratively as part of a team, negotiate, and resolve conflict
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
2. UC graduates are global citizens - communicate effectively in diverse cultural and social settings
2. UC graduates are global citizens - make creative use of technology in their learning and professional lives
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development
3. UC graduates are lifelong learners - be self-aware
3. UC graduates are lifelong learners - evaluate and adopt new technology

Prerequisites

11009 Business Decision Making

Corequisites

None.

Incompatible units

6222 Accounting Systems & Practices G

Equivalent units

6360 Accounting Systems and Practices

Assumed knowledge

None.