Accounting Transactions and Analysis

This subject has the following teaching availabilities in 2010:

306-107 Accounting Reports and Analysis.

For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.

The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/

This subject introduces students to the nature of accounting and its role in business from the perspective of a preparer of financial reports. Topics covered include the recording of business transactions and adjustments associated with receivables, inventory, property, plant and equipment, debt instruments, share issues, business combinations and manufacturing activities; preparation of consolidated financial statements; preparation of a cash flow statement by account reconstruction; selected topics on recognition and measurement of certain elements of the financial statements; and financial statement analysis.

• Describe the nature and objectives of General Purpose Financial Reporting
• Explain the nature of internal reports based on information generated from the accounting system for use in management decision-making
• Analyze the inter-relationship between management accounting and financial accounting
• Explain the nature of company formation
• Explain the relationship between financial accounting information and share prices
• Describe the nature of company transactions and account for various capital transactions (share issues) and profit distributions
• Describe and construct Company Financial Statements (Income Statement and Balance Sheet) and disclosures (Notes)
• Construct and analyze a Cash Flow Statement
• Explain the financial reporting issues for group structures and prepare financial reports for corporate groups
• Analyze and interpret company financial information contained in an annual report and explain the limitations of financial statement analysis
• Explain the meaning and implications of cost concepts and classify costs
• Record and report transactions for manufacturing activities applying actual, normal and job costing
• Discuss the role of budgets in the planning and control process
• Prepare flexible budgets and identify static, volume and flexible variances

A 3-hour end-of-semester examination (70%), assignments totalling not more than 2000 words, or equivalent (20%) and tutorial assessment (10%). Successful completion of this subject requires a minimum 50% pass in the end-of-semester examination

You will be advised of prescribed texts by your lecturer.

This subject potentially can be taken as a breadth subject component for the following courses:

• Bachelor of Arts
• Bachelor of Biomedicine
• Bachelor of Environments
• Bachelor of Music
• Bachelor of Science
• Bachelor of Engineering

You should visit learn more about breadth subjects and read the breadth requirements for your degree, and should discuss your choice with your student adviser, before deciding on your subjects.

• High level of development: problem solving; use of computer software.

• Moderate level of development: written communication; collaborative learning; team work; application of theory to practice; interpretation and analysis; critical thinking; synthesis of data and other information; evaluation of data and other information; accessing data and other information from a range of sources; receptiveness to alternative ideas.

• Some level of development: oral communication; statistical reasoning.

Students cannot gain credit for 306-108 Accounting Transactions and Analysis and either 306-102 Accounting Concepts or 306-104 Accounting 1B.