21252 Accounting for Managerial Practice
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Subject handbook information prior to 2020 is available in the Archives.
Credit points: 6 cp
Subject level: Undergraduate
Result type: Grade and marksRequisite(s): 21597 Principles of Money and Finance
There are course requisites for this subject. See access conditions.
Description
A knowledge of accounting is critical for everyone engaged in business activities. Business implements plans and strategies through budgets which have the structure of accounting reports. The activities of the business are captured by the accounting system, and these are summarised in accounting reports which are used to support decision making. Accounting provides the financial language used by all commercial, not-for-profit and government organisations.
Subject learning objectives (SLOs)
| 1. | Apply accounting techniques to convert physical business activities to a financial equivalent |
|---|---|
| 2. | Generate financial information on decision alternatives |
| 3. | Create budgets using accounting processes, based on analysis of historical data both operational and monetary |
| 4. | Explain how accounting contributes to planning, controlling as well as performance measurement and evaluation |
Contribution to the development of graduate attributes
This subject adds to student knowledge in the application and use of accounting to generate financial information to support the information requirements of the many stakeholders associated with the business. Will add understanding to the financial consequences of business activity as measured and reported by accounting processes.
This subject contributes to developing of the following graduate attributes:
- Business knowledge and concepts
- Business practice oriented skills
This subject also contributes specifically to develop the following Program Learning Objectives:
- 1.2 Demonstrate inter-relationships between differing business and related disciplines
- 5.2 Demonstrate knowledge of the rights and perspectives of Aboriginal and Torres Strait Islander Peoples in relation to business practices
Teaching and learning strategies
The subject is presented in seminar format. Essential principles are presented and analysed and students are lead through practical application exercises.
Content (topics)
- Financial transaction processing and reporting.
- Cost concepts
- Product Costing
- Profit planning
- Cash Budgeting
- Short term operating budgets
- Flexible budgets and performance reports
Assessment
Assessment task 1: Online tests (Individual)
| Objective(s): | This addresses subject learning objective(s): 1 and 2 |
|---|---|
| Weight: | 30% |
Assessment task 2: In-class project (Group)
| Objective(s): | This addresses subject learning objective(s): 2 |
|---|---|
| Weight: | 30% |
Assessment task 3: Project (Individual)
| Objective(s): | This addresses subject learning objective(s): 3 and 4 |
|---|---|
| Weight: | 40% |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
Birt, J., Chalmers, K., Maloney, S., Brooks, A., Oliver, J. and Bond, D. (2020) Accounting: Business Reporting for Decision Making (7th ed.), Wiley.