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Accounting IB
UoS Code ACCT1002
Credit points 6
Offered Semester 1 and Semester 2
Prerequisites ACCT1001
Corequisites
Prohibitions ACCT1003, ACCT1004
Assumed Knowledge
Additional Information
Lectures 3 hrs of lectures/tutorials per week
Assessment Homework tasks; Group project; Interactive On-line Assessment; Final examination
Description Accounting is about the recording, classification, reporting and interpretation of information to help make economic decisions. Accounting 1A introduces accounting and the double entry system for financial recording. Accounting 1B develops themes and competencies learnt in Accounting 1A. The primary focus of this unit of study is on conceptual and technical issues relating to management accounting and the information required by internal users to make strategic and operational decisions relating to managing a business. A second theme is the financial accounting information businesses are required to produce to assess a firm\\\'s financial state and performance. Students examine how commercial and ethical issues affect business decisions and how there are present and future consequences that will affect different groups of interest.