Accounting for Decision Making

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.