ACCT5432 Introductory Financial Accounting

6 points
(see Timetable)
Non-standard teaching periodOnlineOnline
Semester 1UWA (Perth)Face to face
Semester 2UWA (Perth)Face to face
Semester 1OnlineOnline
This unit provides an understanding of accounting concepts, issues and problems. The focus is on accounting for external users. It also examines the basic concepts underlying external general purpose financial reports as well as techniques to analyse such reports. The unit initially uses a worksheet approach but then introduces debits and credits and the use of journals and ledger accounts to record the accounting cycle.
Students are able to (1) identify and justify the treatment of financial reporting transactions and demonstrate the ability to prepare accounting records and transactions that require judgement; (2) identify the concepts in relation to, and be aware of, the major requirements impacting upon the preparation of conventional financial statements; (3) critically apply theoretical and technical accounting knowledge in order to analyse and interpret information presented in financial statements (with particular emphasis on using ratio analysis and cash flow analysis); (4) develop competencies to work effectively in teams to resolve accounting issues; and (5) demonstrate the ability to produce clear and concise written communication in a complex accounting context.
Indicative assessments in this unit are as follows: (1) participation; (2) practical assessment; and (3) final examination. Further information is available in the unit outline.

Supplementary assessment is not available in this unit.
Unit Coordinator(s)
Assistant Professor Leo Langa (Semester 1), Ms Nikki Schonfeldt (Semester 1 Online) and (Semester 2)
Unit rules
ACCT1101 Financial Accounting, ACCT5602 Accounting
Contact hours
lectures/seminars/workshops: up to 3 hours per week
Unit Outline
Semester 1-2020 [SEM-1-2020]
Semester 1_2019_ONLINE [SEM-1_2019_ONLINE]
  • 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 via the Booktopia Textbook Finder, which has the functionality to search by course code, course, ISBN and title, and may also be posted or available at the appropriate school's administrative offices. Where texts are listed in the unit description above, an asterisk (*) indicates that the book is available in paperback.