This unit provides a basis for further accounting studies, while meeting the needs of students interested in pursuing studies in other areas of business. The unit introduces students to basic accounting concepts and selected accounting practices and to the role of, and the processes involved in, planning and decision making within the business environment. Students will begin to examine the roles of accounting and management planning for supporting organisational decision making. To undertake this examination, students will begin to integrate principles and key professional practices of accounting concepts; cash and accrual accounting; preparation of financial statements; and forms of business ownership

Following an introduction to budgeting, students will assess the fundamental principles underpinning the use of budgets for control and performance reports including: analysis and interpretation; evaluation of actual performance against budget; the budget operating cycle; and short term decision making and cost behaviour. The learning and teaching in the unit prepares students for transition to further study and the workplace by supporting them to develop academic and professional skills required for transition to further studies and the workplace.

Unit details

Study level:
Undergraduate
Credit points:
12
Unit code:
VBE1000

Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Assess different types of decisions relevant to improving business performance;  
  2. Discuss the use of accounting information in the planning and control of business operations;  
  3. Prepare basic General Purpose Financial Reports to inform users of business performance and position;  
  4. Analyse and integrate information required for short and long term decision making relevant to management accounting;  
  5. Articulate and plan problem-solving techniques in making informed accounting decisions; and  
  6. Demonstrate the development of fundamental academic and professional skills required for further study and the workforce.  

Assessment

Melbourne campuses

Students studying under the VU Block Model.

Assessment type Description Grade
Assignment Individual Project: Business Report 20%
Test Four (4) part online and in class Quiz 40%
Test Transaction analysis and recording 20%
Test In Class supervised test (2 hours) 20%
Only non-programmable calculators without text and graphic facilities may be used in examinations. Share market Analysis: a real-life scenario about share market investment. It is an individual project where students select a company listed on the ASX. Share price performance, company websites & news announcements impacting share portfolio value are researched. Company annual reports are reviewed to find financial ratios profiling a company's profitability, stability & liquidity. Students submit a business report incorporating their research & recommendations.

Other locations

Assessment type Description Grade
Test Five (5) Online Tests (30 minutes – 1 hour duration; total is equivalent to 650 words) 15%
Test Transaction Analysis and Recording Test (1.5 hours; equivalent to 400 words) 15%
Assignment Individual Project: Share market Listed Company Analysis (equivalent to 450 words) 20%
Examination Final Exam (2 hours; equivalent to 1500 words) 50%
Only non-programmable calculators without text and graphic facilities may be used in examinations. Share market Analysis: a real-life scenario about share market investment. It is an individual project where students select a company listed on the ASX. Share price performance, company websites & news announcements impacting share portfolio value are researched. Company annual reports are reviewed to find financial ratios profiling a company's profitability, stability & liquidity. Students submit a business report incorporating their research & recommendations.

Where to next?

As part of a course

This unit is studied as part of the following courses. Refer to the course page for information on how to apply for the course.

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