Unit Outline

School of Business
Unit Name

Financial Accounting Applications

Unit Number

200111

Unit
Coordinator/s

Mamun Billah

Session

Autumn

Year

2015

Handbook
Summary

This unit gives students the practical skills necessary to analyse the accounting
transactions of an entity and then be able to measure and record these
transactions in a systematic manner for the preparation of accounting reports to
external users.

Credit Points

10

Pre
requisites

200103 Accounting Reports and Decisions or 200101 Accounting Information for

Managers

Co-requisites

Not Applicable

Incompatible
/ not to be
counted for
credit with

Not Applicable

Unit Level

Assumed
Knowledge

Not Applicable

Attendance
Requirement
s

Satisfactory attendance at a minimum of 10 tutorials out of 13 is required. This

number takes into account occasional sickness and/or misadventure. Attendance at
fewer than 10 tutorials will result in a Fail grade regardless of total marks achieved
in the unit during the semester. Satisfactory attendance means arriving on time,
staying the full duration of the class, being active in class discussions and
activities, and being respectful of teachers and fellow students. Students will not
be recorded as present if they are late by more than 10 minutes. Note that a
lecturer/tutor may require a student to leave a class if they believe it will assist the
learning environment of other students.
Students must register for lectures and tutorials using the online Tutorial
Registration System. Students must attend the tutorial in which they are registered.
Attendance and homework marks will only be recorded for students who attend the
correct tutorial.

Enrolment
Restrictions

Must have completed a pre-requisite unit.

Unit Name: Financial Accounting Applications

Unit Number: 200111

Teaching Session: Autumn 2015

Page 1 of 3

Learning
Outcomes

On successful completion of this unit, students will be able to:

1. Demonstrate an understanding of the accounting elements (assets, liabilities,
equity, revenues and expenses) and the underlying principles and relationships
of the elements for the purpose of periodic fi nancial reporting
2. Demonstrate their understanding of the accounting cycle by identifying,
journalising, posting transactions and preparing a trial balance and fi nancial
reports.
3. Prepare fi nancial statements for diff erent business structures using manual
based and computerised accounting systems.
4. Demonstrate competency in the preparation of elements of fi nancial reports by
application of accounting principles.

Unit Content

The unit covers the following topic areas:

1.
2.
3.
4.
5.
6.
7.
8.
9.

Mode of
Delivery

Recording transactions and posting to ledgers

Preparing trial balances and end of period adjustments
Preparation of fi nancial statements and closing of accounts
Recording subsidiary ledgers and special journals
Accounting for cash and preparation of cash fl ow statement
Accounting for inventory
Accounting for assets and liabilities
Accounting for other business structures
Critical analysis of accounting concepts

This unit consists of a one hour lecture and a two hour tutorial each week. The
lecture is designed to introduce a specifi c topic and to cover the key concepts. In
addition, solutions to practical questions will be demonstrated. Prior reading of the
relevant section of the textbook would assist understanding.
The tutorial is designed to provide an opportunity for learning in a small class
context. Group activities will take place during this time. It will focus on the
application of knowledge and on building student abilities so as to achieve the
learning outcomes of the unit.
Students can only attend the tutorial group for which they are registered. Tutorial
places are allocated via Allocate+ only. Visit
https://tutorialregistration.uws.edu.au/aplus/timetable/#subjects for the timetable
and tutorial registration.

Unit Name: Financial Accounting Applications

Unit Number: 200111

Teaching Session: Autumn 2015

Page 2 of 3

Assessment
Items and
Weighting

Assessment for this unit will be based on the following components:

Mandatory Components

Weighting (%)

Homework assignments (weekly)

15%

Mid-Semester Test (2 hours,

Invigilated, open-book)

15%

Accounting practice set assignment

20%

Final Examination (3 hours closed

book) There is a threshold mark for
the fi nal exam in this unit

50%

Total

100%

An overall mark of at least 50% is required to pass the unit.

Refer to the units Learning Guide for more details of the requirements of each
assessment component.
Students must achieve a minimum of 50% overall in the unit AND gain at least the
minimum threshold mark set for the fi nal exam in order to pass. Final marks and
grades are subject to confi rmation by the School Assessment Committees which
may scale, modify or otherwise amend the marks and grades for the unit, as may
be required by University policies.
Essential
Library
Resources

Textbook:
Hoggett, L, Medlin, J & Edwards, J 2012, Financial accounting, 9th edn, John Wiley &
Sons Aust Ltd.
Perdisco, 2013, Manual accounting practice set technology boutique , Australasian
Edition 3.

Suggested
references

Carlon,S, Mladenovic, R et al 2009, Financial accounting, John Wiley & Sons Aust.
Ltd

(these are
not essential
texts for the
unit)

Horngren, Harrison, Bamber et al 2006, Financial accounting, 4 th edn, Pearson

Education Australia

On-line
Learning
Requirement
s

The E-Learning (vUWS) site will be the major contact point for students between
weekly classes. The Learning Guide, lecture notes, homework questions and
solutions, etc will all be made available on the site. Use the E-Learning link at the
top of the UWS home page www.uws.edu.au

Potter,B. Libby,R. Libby, P. Shortt, D 2010, Accounting in context, McGraw Hill Aust
Pty Ltd.

Students are expected to consult vUWS regularly each week, as all announcements
will be made via vUWS and teaching material will be constantly updated and posted
online.
Special
Requirement
s

Textbooks (refer above), non-programmable calculator, and A4 ruled paper.

Unit Name: Financial Accounting Applications

Unit Number: 200111

Teaching Session: Autumn 2015

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