Chrysalis
< Back

Accounting

Objectives

On completion of this subject students should be able to:

  • Define the role of accounting within the business system;
  • Demonstrate an understanding of the concepts, principles and practice of accounting;
  • Use computer software to process financial transactions;
  • Demonstrate English language and Accounting-specific language skills.

Course outline

Semester One

Accounting students are required to learn the nature, the function and the concepts of accounting and be able to complete a set of books up to Trial Balance stage. We teach the theory and practical aspects of internal control methods, including cash control and control of credit. Students are required to complete all the Journals, Ledgers and Subsidiary Ledgers. A weekly computer session is held in which students learn to apply their manual accounting knowledge in a computerized accounting package (MYOB).

Semester Two

Semester Two requires students to investigate Accounting doctrines, principles and Accounting as a profession. We continue with theoretical control systems for Inventory and Asset management as well as requiring students to complete the practical aspects of various inventory systems and asset acquisition, depreciation and disposal. We require students to do complete Year-end accounting procedures and produce fully classified Financial Statements for a Sole Trader. This is rounded off with application on MYOB computer accounting package.

Assessment

This subject teaches to and assesses students on their competence in respect of the following units of competency:

  • QLD204ACC01A Examine accounting principles, practices and business financial governance
  • BSBFIA301A Maintain financial records
  • BSBFIA401A Prepare financial records
  • FNSACC406A Set up and operate a computerised accounting system

In addition, students' work is graded in accordance with the following table:

SEMESTER 1

Assessment 
Assessment TaskWeighting (% of overall mark)

A1

Risk Assessment (Assignment) - Part 1

 5%

A2

Risk Assessment (Assignment) - Part 2

 5%

B

Recording, Reporting, Analysing and Presenting (Assignment) - Part 1

10%

C

Semester One Examination

30%

 

Total

50%

SEMESTER 2

AssessmentAssessment TaskWeighting (% of overall mark)

A3

Risk Assessment (Assignment) - Part 3

 7%

A4

Group Workshop - Part 4

 3%

B2

Recording, Reporting, Analysing and Presenting (Assignment) - Part 2

 5%

B3

Recording, Reporting, Analysing and Presenting (Assignment) - Part 3

 5%

B4

Recording, Reporting, Analysing and Presenting (Assignment) - Part 4

 5%

D

Semester Two Examination

25%

 

Total

50%