AFM101 Introduction to Financial Accounting

Updated: 16 March 2017
Credit Points 6
Offering
Responsible Campus Teaching Period Mode of Study
Armidale Trimester 1 Off Campus
Armidale Trimester 1 On Campus
Armidale Trimester 2 Off Campus
Intensive School(s)

Intensive schools are for off campus students only, unless specified in the notes.

Start Finish Attendance Notes
03 April 2017 05 April 2017 Non-Mandatory Trimester 1 Intensive School. If the minimum number of student registrations has not been reached at least four weeks prior to the scheduled date, the Non-Mandatory Intensive School will be cancelled.
14 August 2017 16 August 2017 Non-Mandatory Trimester 2 Intensive School. If the minimum number of student registrations has not been reached at least four weeks prior to the scheduled date, the Non-Mandatory Intensive School will be cancelled.
Supervised Exam There is a UNE Supervised Examination held at the end of the teaching period in which you are enrolled.
Pre-requisites None
Co-requisites None
Restrictions AFM217 or AFM317
Notes None
Combined Units None
Coordinator(s) Brent Gregory (bgregory@une.edu.au)
Unit Description

This unit provides a comprehensive introduction to the theory and practice of financial accounting. The unit provides a detailed explanation of the double entry framework used to represent the activities and affairs of businesses/firms in monetary terms. The conventional rules to recognise and measure the financial effects of economic events are examined. Attention is given to the design and operation of procedures to record, store, control and summarise data in accounting systems.

Important Information

Where calculators are permitted in examinations, it must be selected from an approved list, which can be accessed from the Further Information link below.

Further information

Prescribed Material
Mandatory

Text(s):

Note: Students are expected to purchase prescribed material. Please note that textbook requirements may vary from one teaching period to the next.

ACCT2 Financial

ISBN: 9780170350341
Tyler, J., Godwin, N. Alderman, C.W., Cengage Learning Australia 2nd ed. 2016

Text refers to: Trimester 1 and 2, On and Off Campus

Disclaimer Unit information may be subject to change prior to commencement of the teaching period.
Assessment
Must
Complete
Title Exam Length Weight Mode No. Words
Compulsory Practice Set Quizzes 20%
Assessment Notes

Students will be provided with a practice set task to work through. Two quizzes (at 10 marks each) will assess the material covered in the practice set.

Relates to Learning Outcomes (LO)

LO: 1-4

Topic Quiz 1 10%
Assessment Notes

Word length is not applicable owing to the statistical nature of the questions.

Relates to Learning Outcomes (LO)

LO: 1 and 6

Topic Quiz 2 10%
Assessment Notes

Word length is not applicable owing to the statistical nature of the questions.

Relates to Learning Outcomes (LO)

LO: 1-5

Tutorial Quizzes 10%
Assessment Notes

Word length is not applicable owing to the statistical nature of the questions.

Relates to Learning Outcomes (LO)

LO: 1-6

Compulsory Final Examination 2 hrs 15 mins 50%
Assessment Notes

Series of quantitative and qualitative questions. Students must obtain at least 50% in the examination (and at least 50% overall) to receive a pass (or better) in the unit.

Relates to Learning Outcomes (LO)

LO: 1-6


Learning Outcomes (LO) Upon completion of this unit, students will be able to:
  1. accurately and independently use the double-entry system for recording the effects of transactions in journals and ledgers;
  2. demonstrate knowledge of how to prepare financial statements from the accounting records;
  3. process and analyse financial transactions data in merchandising and other complex business environments to solve rudimentary problems;
  4. apply the functions and specific uses of accounting information to provide and transmit solutions to sometimes complex problems;
  5. evaluate and interpret accounting literature from a range of sources; and
  6. acquire an awareness of the distinction and connection between accounting as a discipline and as a social construct.