This unit provides a basis for further accounting studies, while meeting the needs of students from other areas of business studies. Students will critically assess the processes involved in planning and decision making within the modern business environment. Students will examine the roles of accounting and management planning for substantiating organisational decision making. To undertake this examination, students will synthesise principals of basic accounting concepts and key professional practices of:  cash and accrual accounting; preparation of financial statements; forms of business ownership, and effect on financial statements. Following an introduction to budgeting, students will critically assess: the use of budgets for control and performance reports; analysis and interpretation; evaluation of performance; the operating cycle; and short term decision making and cost behaviour. 

Unit details

Location:
Study level:
Undergraduate
Credit points:
12
Unit code:
WDB1001

Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Critically assess different types of decisions relevant to maximising business performance;  
  2. Devise the use of accounting information in the planning and control of business operations;  
  3. Construct General Purpose Financial Reports to inform users of business performance and position;  
  4. Verify and synthesise information required for short and long term decision making relevant to management accounting;  
  5. Articulate and devise problem-solving techniques in making informed management decisions; and  
  6. Work collaboratively in teams to analyse, evaluate and propose strategies in response to dynamic financial environments as they affect accounting decision-making for managers of contemporary businesses.  

Assessment

Assessment type Description Grade
Test At Risk Online Multiple Choice Test (0.5 hours, 150 words equivalent) 5%
Test Four (4) Short Multiple Choice revision questions (approx. 0.5 hours, 500 words equivalent) 10%
Test Transaction Analysis and Recording Test (400 words equivalent) 15%
Project Sharemarket Group Based Project (450 words equivalent) 20%
Examination Final Exam (1 hour and 45 minutes, 1500 words equivalent) 50%
NESB students will have an additional 15 minutes allocated for reading time-restricted assessment items.

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