ACC106 Financial Accounting

This unit focuses on the use of conceptual frameworks and accounting standards utilised in the preparation and presentation of financial reports from a preparer’s perspective. A range of concepts are examined including classification of assets, liabilities, equity, income, and expenses. You will be introduced to the regulatory framework for the presentation of classified financial statements and aspects of computerised accounting. In this unit, you will be able to develop your technical knowledge, analytical problem solving and critical thinking skills through the application of accounting principles such as accrual accounting in the treatment and recording of financial transactions, the preparation of financial statements in various organisational structures.

ACC204 Management Accounting

Management accounting is vital for the provision of financial and non-financial information which is essential at all levels of organisational decision making. You will be able to identify and assesses various principles, concepts, tools and techniques that management accountants use to provide information to stakeholders. A range of topics are identified and assessed including cost terms and concepts, cost behaviour, job and process costing, cost-volume-profit analysis, budgeting, activity-based-costing, inventory management, capital budgeting, standard costing, responsibility accounting and performance evaluation.  In this unit, you will develop and apply your problem solving and critical thinking skills that are useful in evaluating best management accounting practice and for effective decision making.

ACC207 Financial Reporting and Practice

This unit builds on accounting units ACC106 Financial Accounting by exploring further contemporary financial and non-financial reporting across all sectors that require compliance with International Financial Reporting Standards (IFRS) and their Australian equivalents. Professional accountants need comprehensive knowledge and skills and integrative thinking to apply the relevant accounting standards in the regulated Australian business environment. In this unit you will explore in greater depth definitions, recognition, analysis, measurement and disclosure of financial transactions and events. In this unit, you will be able to analyse, appraise and apply accounting standards in various financial reporting contexts and critically analyse issues relating to contemporary financial reporting.

ACC208 AIS and Emergent Technologies

Accounting information systems and emerging technologies play pivotal roles in enhancing organisational efficiency and effectiveness. In this unit, you will be introduced to a range of topics that are identified and assessed including conceptual foundations of AIS (transaction processing, ERP, Blockchain and system documentation techniques), data analytics (relational database, REA model, transformation and processing), control of AIS (system security and ethics), AIS application (revenue and expenditure cycles) and system development process (design, implementation and operation). You will be able to critically evaluate applications of AIS and emerging technologies pertaining to best practice and the achievement of organisational effectiveness and security.

ACC302 Corporate Accounting

This unit advances your knowledge of financial accounting by continuing to focus on relevant conceptual frameworks and selected International Financial Reporting Standards (IFRS) and their equivalent Australian accounting standards (AAS) including accounting for group and associated companies. Topics include regulatory environments, tax effect accounting, fair value measurement and financial instruments, impairment, employee benefits, cash flow disclosures, business combinations, consolidation for group companies (wholly owned and non-controlling interest), intra-group transactions, related party transactions and emerging accounting standards to comply with contemporary IFRS and their equivalent AAS.

ACC303 Taxation Law

Compliance with the taxation law is mandatory for individuals and business organisations in public and private spheres in Australia. This unit equips you with knowledge of the principles and practices of three related common Australian tax laws – income tax, goods and services tax (GST), and fringe benefits tax (FBT). Australian taxation statutory law, case law and taxation rulings are essential for structuring organisations for compliance. You will be assessed on application and evaluation including processes of assessment starting from the lodgement of the tax returns, business activity statements and FBT returns. You will be able to identify, locate and apply appropriate taxation law and critically evaluate its application in common taxation matters including tax planning and lodgement, tax administration and taxation policy.

ACC304 Audit and Assurance Services

Auditing and assurance services are essential for substantiating the efficacy and accuracy of financial reporting and other governance activities for faithful representation, risk management and accountability. In this unit you will be able to identify and assess the knowledge of theories and practices of auditing including auditing and assurance framework, auditing and assurance standards issued by the Australian Auditing and Assurance Standards Board, and standards issued by the Accounting Professional and Ethical Standards Board. You will examine and assess an overview of the auditing profession and audit processes including audit planning, performance of audit procedures, and formation and expression of audit opinion. You will critically evaluate issues and concerns in the field of auditing and assurance including auditor independence, audit quality, audit reform and audit competition.

ACC305 Financial Statement Analysis and Advisory Services

Financial statement analysis is crucial for business analysis and valuation, forecasting, and disseminating fundamental and technical capital market information. The demand for advisory services in this regard is burgeoning. This unit combines knowledge and skills in the areas of financial accounting analysis, business finance, security market analysis and data analytics. You will be able to examine and assess security and business valuation analyses, and forecasting, using financial statements and other capital market data. This unit also introduces merger acquisitions and prospective analyses. You will be able to identify and evaluate business valuation and forecasting scenarios using published financial statement data for a group presentation relating to an advisory service proposal.