ACCT1101 Financial Accounting

Credit
6 points
Offering
(see Timetable)
AvailabilityLocationMode
Semester 1UWA (Perth)Face to face
Semester 1UWA (Perth)Online-TT
Semester 2UWA (Perth)Face to face
Semester 2UWA (Perth)Online-TT
Semester 1AlbanyFace to face
Details for undergraduate courses
  • Level 1 core unit in the Accounting; Finance; Business Law major sequences
  • The area of knowledge for this unit is Management and Commerce
  • 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
Indicative assessments in this unit are as follows: (1) tutorial 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 Leo Langa (Semester 1), Dr Leo Langa & Ms Nikki Schonfeldt ( Semester 2), Dr Mosha Hossain (Summer School)
Unit rules
Incompatibility:
ACCT5432 Introductory Financial Accounting
Contact hours
lectures/tutorials/seminars/workshops: up to 3 hours per week
Unit Outline
Semester 1-2020 [SEM-1-2020]
Non-standard teaching period [TS-SUMM-F-2020]
  • 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.
  • Unit readings, including any essential textbooks, are listed in the unit outline for each unit one week prior the commencement of study. The unit outline will be available via the LMS and the UWA Handbook. Reading lists and essential textbooks are subject to change each semester. Essential textbooks can be purchased from the commercial vendors to secure the best deal. The Student Guild can provide assistance on where to purchase books if required. Books can be purchased second hand at the Guild Secondhand bookshop (second floor, Guild Village), which is located on campus. Copies of textbooks and other readings will be made available for students to access from the Library, online wherever possible as well as in print.
  • If this unit is offered as on-campus face-to-face study only, students who are presently unable to enter Western Australia and whose studies would be delayed by an inability to complete this unit, should contact the unit coordinator (details given on this page) to ascertain, on an individual case-by-case basis, if alternate arrangements can be made to support their study in this unit.