ACCT 2005 Techniques in Financial Accounting

Credit Points 10

Legacy Code 200973

Coordinator Stanley James Opens in new window

Description Techniques in Financial Accounting is the third unit in the financial accounting stream and builds upon Financial Accounting Applications as part of the accredited accounting program. It introduces a company as a business structure and the accounting requirements for their formation and operations. The unit advances tools required for accurate record keeping leading to compilation of financial statements. The unit teaches participants how to account for receivables and payables, the disposal of non-current assets, and preparation of cash flow statements. Successful completion of the unit will equip participants with a practical and theoretical understanding of usefulness of general purpose financial reports.

School Business

Student Contribution Band HECS Band 4 10cp

Check your HECS Band contribution amount via the Fees page.

Level Undergraduate Level 2 subject

Pre-requisite(s) ACCT 1007

Incompatible Subjects ACCT 2004 Intermediate Financial Accounting

Learning Outcomes

On successful completion of this subject, students should be able to:
  1. Demonstrate an in depth understanding of the accounting cycle in relation to reporting entities.
  2. Prepare financial statements for a company business structure using a manual based accounting system.
  3. Demonstrate competency in the preparation of general purpose financial reports for reporting entities by application of accounting principles.
  4. Critically analyse and apply basic accounting theory.

Subject Content

1. Revision of debit and credits and introducing company structure.
2. Companies: formation and operations.
3. Reconstruction of accounts and error correction.
4. End of period adjustments. Depreciation and amortisation.
5. Closing and reversing entries.
6. Ten column worksheet and financial statement compilation.
7. Accounting for receivables and payables.
8. Non-current asset disposal.
9. Preparation of cash flows.
10. Accounting theories.

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
Self-assessment 90 minutes S/U Y Individual
Portfolio Semester long - approx 500 words. 10 N Individual
Intra-session exam 1 hour 20 N Individual
Practical 1,000 words maximum, plus appropriate supporting calculations as required 20 N Individual
Final Exam 2 hours 50 Y Individual

Prescribed Texts

  • Hoggett, Edwards, Medlin 2012, Financial accounting, 9th edn, John Wiley & Sons Brisbane. Accounting Practice set

Teaching Periods

2022 Semester 1

Online

Online

Subject Contact Stanley James 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 Connie Vitale 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 Matthew Kelly 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

Bankstown

Day

Subject Contact Connie Vitale 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 Stanley James 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 Connie Vitale 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

Evening

Subject Contact Connie Vitale 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 Matthew Kelly 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