ACCT1101 Financial Accounting

Credit
6 points
Offering
(see Timetable)
AvailabilityLocationMode
Semester 1UWA (Perth)Face to face
Semester 2UWA (Perth)Face to face
Semester 1AlbanyFace to face
Details for undergraduate courses
  • Level 1 core unit in the Accounting; Finance; Business Law major sequences
  • Level 1 complementary unit in the Economics; Marketing; Professional Economics; Management; Human Resource Management major sequences
  • Category B broadening unit for students
  • Level 1 elective
Content
This unit provides an introduction to financial reporting as well as a foundation for those who may later wish to specialise in accounting. No prior knowledge of the subject is required. Topics include the core concepts and practices underlying the preparation of financial statements, financial statement analysis and the factors in the business environment that influence the demand and supply of accounting information. The understanding of the business environment, measurement concepts and analytical skills gained through this unit are relevant to both accounting and non-accounting majors.
Outcomes
Students are able to (1) demonstrate an understanding of the accounting environment; (2) show an ability to apply accounting vocabulary, principles and concepts; (3) prepare general purpose financial statements; (4) analyse transactions and prepare journals, ledgers and worksheets, and a Trial Balance; (5) appreciate internal control, corporate governance and the ethical issues affecting the work of accountants; and (6) analyse and interpret financial statements.
Assessment
Typically this unit is assessed in the following ways: (1) tutorial attendance and participation; (2) assignment; and (3) examinations. Further information is available in the unit outline.

Supplementary assessment is not available in this unit except in the case of a bachelor's pass degree student who has obtained a mark of 45 to 49 overall and is currently enrolled in this unit, and it is the only remaining unit that the student must pass in order to complete their course.
Unit Coordinator(s)
Dr Jamie Tong
Unit rules
Incompatibility:
ACCT5432 Introductory Financial Accounting
Contact hours
lectures/tutorials/seminars/workshops: up to 3 hours per week
  • The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
  • All students are responsible for identifying when they need assistance to improve their academic learning, research, English language and numeracy skills; seeking out the services and resources available to help them; and applying what they learn. Students are encouraged to register for free online support through GETSmart; to help themselves to the extensive range of resources on UWA's STUDYSmarter website; and to participate in WRITESmart and (ma+hs)Smart drop-ins and workshops.
  • Books and other material wherever listed may be subject to change. Book lists relating to 'Preliminary reading', 'Recommended reading' and 'Textbooks' are, in most cases, available at the University Co-operative Bookshop (from early January) and appropriate administrative offices for students to consult. Where texts are listed in the unit description above, an asterisk (*) indicates that the book is available in paperback.