BUSN7008 Financial Statements and Reporting

Offered By	School of Accounting & Business Info Systems
Academic Career	Graduate Coursework
Course Subject	Business
Offered in	First Semester, 2012, Second Semester, 2012, First Semester, 2013, and Second Semester, 2013
Unit Value	6 units
Course Description	This course is designed as an introductory accounting course for graduate students, and provides an introduction to the concepts underlying external accounting and is designed for students who are not majoring in accounting. The unit utilises a transaction-effect approach to the preparation of financial statements with basic bookkeeping minimalized. The course extends the main financial statements produced by an accounting system and the process by which these systems are prepared. The course covers fundamental issues relevant to the use of accounting information as a decision aid.
Learning Outcomes	Upon successful completion of the requirements for this course, students will be able to: identify the main users of financial accounting reports, and the main purpose for which information is used; distinguish between cash and accrual accounting; distinguish between assets, liabilities, equity, income and expense; prepare journal entries, post to ledger accounts, and calculate closing balances, prepare a trial balance, prepare adjusting, reversing and closing entries to collate corporate financial information; develop the knowledge and ability to prepare Balance sheets, Income Statements, and Cash Flow Statements for organisations characterised by moderately complex financial transactions; Analyse financial statements with regard to key aspects of performance.
Indicative Assessment	Mid Semester Examination 25% Group Assignment 15% Tutorial Participation 10% Final Examination 50%
Workload	Students taking this course are expected to commit at least 10 hours a week to completing the work. This will include attendance at lectures and tutorials, private study, group work, assignment and Wattle
Course Classification(s)	SpecialistSpecialist courses are designed for students having reached 'first degree' level of assumed knowledge, which provide for the acquisition of specialist skills; or 'second degree' and higher level of knowledge; or for transition to research training programs; or knowledge associated with professional accreditation. and TransitionalTransitional courses are designed for students from a broad range of backgrounds and learning achievements, which provide for the acquisition of generic skills; or an informed understanding of contemporary issues; or fundamental knowledge for transition to Advanced or Specialist courses.
Areas of Interest	Accounting, Commerce, and Finance
Eligibility	At least an average of 65% (or equivalent) in the final two years of an Australian undergraduate degree
Incompatibility	BUSN1001 Business Reporting and Analysis, BUSN1002 Accounting Processes and Systems, BUSN8181 Financial Reporting and Analysis and BUSN8005 Project Accounting and Financial Management . Students who have completed a Bachelor of Accounting or major in accounting are not allowed to enrol in BUSN7008.
Prescribed Texts	See Course Outline
Preliminary Reading	See Course Outline
Programs	Graduate Certificate in Accounting, Graduate Certificate in Accounting, Graduate Certificate in Accounting, Graduate Certificate in Accounting, Graduate Certificate in Financial Management, Master of Accounting, Master of Accounting, Master of Business, Master of Business, Master of Business Information Systems, Master of Business Information Systems, Master of Commerce, Master of Commerce, Master of Finance, Master of Financial Management, Master of Information Systems Studies, Master of Information Systems Studies, Master of Professional Accounting, and Master of Professional Accounting
Other Information	For further information please refer to the course website
Academic Contact	See http://ecocomm.anu.edu.au/courses/course.asp?code=BUSN7008 and See http://cbe.anu.edu.au/courses/course.asp?code=BUSN7008

The information published on the Study at ANU 2012 website applies to the 2012 academic year only. All information provided on this website replaces the information contained in the Study at ANU 2011 website.