Skip navigation to main content

You are here: UNE Home / Course and Unit Catalogue / 2013 / A-Z / AFM101

Sub sections:

Quick Search

Quick Links

Year:

AFM101 Introduction to Financial Accounting

Credit Points 6
Offering
Responsible Campus Teaching Period Mode of Study
Armidale Trimester 1 Off Campus
Armidale Trimester 1 On Campus
Armidale Trimester 2 Off Campus
Intensive School(s)
Start Finish Attendance Notes
22 April 2013 24 April 2013 Non-Mandatory
24 August 2013 26 August 2013 Non-Mandatory
Supervised Exam There is a UNE Supervised Examination held at the end of the teaching period in which you are enrolled.
Pre-requisites None
Co-requisites None
Restrictions AFM217 or AFM317
Notes None
Combined Units None
Coordinator(s) Brent Gregory (bgregory@une.edu.au)
Unit Description

This unit provides a comprehensive introduction to the theory and practice of financial accounting. The unit provides a detailed explanation of the double entry framework used to represent the activities and affairs of businesses/firms in monetary terms. The conventional rules to recognise and measure the financial effects of economic events are examined. Attention is given to the design and operation of procedures to record, store, control and summarise data in accounting systems.
Important Information

Where calculators are permitted in examinations, it must be selected from an approved list, which can be accessed from the Further Information link below.

Further information
Prescribed Material
Mandatory 		Shrink Wrapped Package(s):

Note: Students are expected to purchase prescribed material. Please note that textbook requirements may vary from one teaching period to the next.

Financial Accounting + Myaccountinglab
ISBN: 9781486094073
Horngren, C.T., Best, P., Fraser, D. and Willett, R., Pearson Education 7th ed. 2012
Text refers to: Trimester 1 and 2 , On and Off Campus
Disclaimer Unit information may be subject to change prior to commencement of the teaching period.
Assessment
Title Exam Length Weight Mode No. Words
Practice Set Tests 20%
Assessment Notes
Students will be provided with a practice set task to work through. Two tests (at 10 marks each) will test the material covered in the practice set.
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1-4 GA: 1, 2, 4
Quiz 5%
Assessment Notes
Short quiz made up of a series of quantitative and qualitative questions.
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1 GA: 1-4
Quiz 2 5%
Assessment Notes
Word length is not applicable owing to the statistical nature of the questions.
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1-5 GA: 1, 3, 4, 7
Final Examination 2 hrs 70%
Assessment Notes
Series of quantitative and qualitative questions.
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1-6 GA: 1-3, 7

Learning Outcomes (LO) Upon completion of this unit, students will be able to:
  1. use the double-entry system for recording the effects of transactions in journals and ledgers;
  2. understand how to prepare financial statements from the accounting records;
  3. process and analyse financial transactions data in merchandising and other complex business environments;
  4. understand the functions and specific uses of accounting information;
  5. evaluate and interpret accounting literature; and
  6. develop an awareness of the distinction and connection between accounting as a discipline and as a social phenomenon.

Graduate Attributes (GA)
Attribute Taught Assessed Practised
1 Knowledge of a Discipline
An introductory command of the financial accounting discipline will be achieved through knowledge presented in the teaching and learning activities of the unit, practised through the quizzes and assessed in Assignment 1 and the Final Examination. 		True True True
2 Communication Skills
The role of financial information as a communication and a decision making tool will be presented in the teaching and learning activities of this unit, practised through the quizzes and assessed in Assignment 1 and the Final Examination. 		True True
3 Global Perspectives
Accounting is a global discipline and as such the principles taught are applicable globally. 		True True True
4 Information Literacy
The basic understanding of financial statements and other accounting reports are practised and assessed in the major assignment as well as addressed in the teaching and learning activities of the unit. 		True True True
7 Social Responsibility
Ethical considerations for the accounting profession are analysed at an introductory level in the unit materials and assessed in the assignment and the Final Examination. 		True True True
   

Email to a friend