ACCT 1005 Accounting in Context

Credit Points 10

Legacy Code 200972

Coordinator Helen Black Opens in new window

Description Accounting in Context is the first core unit required in the accredited accounting program, but can be included as an elective in other courses. It is designed to provide an overarching context about the purpose and usefulness of accounting information and explain a range of definitions and terms used in accounting and business. Accounting in Context will introduce accounting reports and their interpretation, and explore the impact of policy and measurement methods on accounting information and business decisions. Successful completion of the unit will equip participants with an understanding of the importance of accounting to society and allow them to engage with the next core accounting unit; Financial Accounting Applications.

School Business

Student Contribution Band HECS Band 4 10cp

Check your HECS Band contribution amount via the Fees page.

Level Undergraduate Level 1 subject

Equivalent Subjects ACCT 1006 - Accounting in Context (WSTC) ACCT 1004 - Accounting Reports and Decisions ACCT 1003 - Accounting Information for Managers (WSTC) ACCT 1002 - Accounting Information for Managers (Creative Industries) LGYA 9762 - Introductory Financial Accounting

Incompatible Subjects ACCT 1001 - Accounting Information for Managers

Restrictions This subject is not available to students enrolled in programs 2607 Bachelor of Construction Management, 2769 Bachelor of Construction Management Studies/Bachelor of Laws, 3692 Bachelor of Construction Technology, 3727 Bachelor of Building Design Management. Students enrolled in these programs must complete subject 200101 - Accounting Information for Managers.

Learning Outcomes

On successful completion of this subject, students should be able to:
  1. Evaluate the usefulness of accounting for decision making.
  2. Analyse the ethical, regulatory and sustainability dimensions of accounting.
  3. Demonstrate through real-world examples how accounting concepts apply to businesses in the 21st century.
  4. Analyse how different accounting techniques impact on accounting information.
  5. Demonstrate skills in research and communication.

Subject Content

1. What is accounting and its purpose?
2. Who uses accounting information and how is it used for decision making?
3. What does accounting information look like for different business structures?
4. The regulatory, ethical and sustainability dimensions of accounting.
5. Accounting terms, principles and concepts.
6. Applying the definition and recognition of balance sheet items (assets, liabilities and equity) to a business case study.
7. Applying the definition and recognition of income statement items (income and expenses) to a business case study.
8. Business transactions ? recognising, classifying and recording.
9. Exploring the accounting equation.
10. Accounting Techniques: the impact of policies and measurement methods on accounting information and business decisions.
11. Interpreting financial statements.

Assessment

The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.

Item Length Percent Threshold Individual/Group Task
Portfolio 2,500 words 30 N Individual
Mid-session Exam 2 hours 20 N Individual
Final Exam 2 hours 50 Y Individual

Prescribed Texts

  • Birt, J, Chalmers, K, Moloney, S, Brookes, A & Oliver, J 2017, Accounting: Business Reporting for Decision Making, 6th edn John Wiley & Sons, Milton, Queensland.(Obtain copy which includes the WileyPLUS featuring iStudy)
  • Birt, J, Chalmers, K, Moloney, S, Brookes, A, Oliver, J & Bond, D 2020, Accounting: Business Reporting for Decision Making, 7th edn John Wiley & Sons, Milton, Queensland.
  • BBirt, J, Chalmers, K, Moloney, S, Brookes, A, Oliver, J & Bond, D 2020, Accounting: Business Reporting for Decision Making, 7th edn John Wiley & Sons, Milton, Queensland.

Teaching Periods

2022 Semester 1

Online

Online

Subject Contact Helen Black Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

Parramatta City - Macquarie St

Day

Subject Contact Helen Black Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

2022 Trimester 1

Wsu Online

Online

Subject Contact Natasha Daraio Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

Sydney City

Day

Subject Contact Neelam Goela Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

2022 Trimester 2

Sydney City

Day

Subject Contact Neelam Goela Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

2022 Semester 2

Campbelltown

Day

Subject Contact Graeme Mitchell Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

Online

Online

Subject Contact Helen Black Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

Parramatta City - Macquarie St

Day

Subject Contact Graeme Mitchell Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

2022 Trimester 3

Wsu Online

Online

Subject Contact Natasha Daraio Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

Sydney City

Day

Subject Contact Neelam Goela Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window