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Course

Accounting 1 - ATAX0005

Faculty: Australian School of Business

School: Australian School of Taxation and Business Law

Course Outline: ATAX0005 Course Outline

Campus: ATAX Campus

Career: Undergraduate

Units of Credit: 6

EFTSL: 0.12500 (more info)

Indicative Contact Hours per Week: 0

Excluded: ATAX0105

CSS Contribution Charge: 3 (more info)

Tuition Fee: See Tuition Fee Schedule

Further Information: See Class Timetable

View course information for previous years.

Description

This is the first course in a sequence of courses dealing with the profession and the practice of accounting and the literature associated with it. Students will be introduced to: the design of accounting information systems (classifications and chart of accounts, cash or accrual systems, concept and measurement selection, continuous or periodic recording); systems of accounting record (the accounting equation, document flows, accounts and ledgers, the double-entry systems, journals and subsidiary ledgers internal and accounting control); recording merchandising operations (sales, purchases, returns, allowances, receipts, payments, inventory effects); accounting for receivables and payables; inventories; and accounting for non-current assets.


Recommended Prior Knowledge

None

Course Objectives

On completion of the course, students will be practised in the use of conventional recording systems and procedures. Having completed this course you should be able to:
  • Outline the framework within which accountants operate and understand the purpose and rationale of the discipline of accounting
  • Understand the language and reasoning process of accounting
  • Have an extensive understanding of the accounting cycle and the operation of accounting information systems
  • Identify, define and record events affecting a business' financial position
  • Develop critical skills in analysing, communicating and presenting arguments based on accounting information to a professional standard in verbal and written contexts

Main Topics

  • Introduction to financial statements
  • The accounting information systems
  • Accrual accounting concepts
  • Reporting and analysing inventories
  • Accounting subsystems
  • Internal control, cash and receivables
  • Reporting and analysing non-current assets

Course Texts

Textbook lists for ATAX courses will be available from the UNSW Bookshop from 1 February for Semester 1 courses and from 1 July for Semester 2 courses.
Library

Study Levels

Undergraduate Study Postgraudate Study Postgraduate Research Study Non-Award Study

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