Accounting (A/T)

students at Gungahlin College

Course information

Accounting is an information system, providing financial information about a business organisation. It provides the basis for effective and efficient decision-making in any business. This course will prepare students for a career in business, including particular vocations in the accounting area, and will form a basis for Tertiary study in Accounting and Commerce degrees.

Students develop their knowledge and understanding of the structure and operation of Accounting models. They examine the relationship between theory and practice including the role of stakeholders and decision-making. Students develop insights into the ways and impact of change on the accounting environment.

Post-school pathways

Do you enjoy or are you good at Social Science? (pdf, 111kb)

Workload expectation

Social and Behavioural Science subjects require regular and consistent revision of course content as well as detailed planning and research for assessment tasks outside of class time  in order to receive outstanding results.

Course pattern

Available as a Minor or Major (Students can complete a minor in Accounting and combine with units from Business and\or Economics to obtain a major in Commerce).

Suggested Minor course

Semester

Unit

1

Introduction to Accounting

2

The Accounting Cycle

Suggested Major course

Semester

Unit

1

Introduction to Accounting

2

The Accounting Cycle

3

Measuring Profit and Cash Flow

4

Accounting Controls and Analysis

Unit descriptions

Introduction to Accounting

This unit explores the nature of accounting, introducing the features of double-entry accounting, the role of accountants in decision-making, the importance of financial statements and the economic and financial structures in place to ensure accounting processes are followed.

The Accounting Cycle

This unit explains the processes involved in generating accounting reports from the typical operations of a business, i.e. original documents, journals, ledgers, financial reports, the features of double-entry accounting, involving the accounting equation, the accounting process or cycle, reporting requirements of the GST and preparation of the BAS, preparation of financial statements from the Trial Balance.

Measuring Profit and Cash Flow

This unit covers the nature and purpose of measuring profit and cash flow including profitability and liquidity including cash accounting, accrual accounting, balancing day adjusting accounts, provision for depreciation and doubtful debts, preparation of fully classified financial statements and integrated computerised accounting exercises to produce all required financial reports.

Accounting Controls and Analysis

In this unit students may study either controls for cash and credit, controls for inventory and non-current assets, financial statement analysis or breakeven analysis.