The objectives of the unit are to provide a basis for further accounting studies, yet meet the needs of students from other areas of business studies; to introduce students to basic accounting concepts and selected accounting practices; and to introduce students to the role of, and the processes involved in, planning and decision making within the business environment. Students will examine the roles of accounting and management planning for substantiating organisational decision making. To undertake this examination, students will synthesise principles and key professional practices of: accounting concepts; 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

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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. Validate and communicate the outcomes of the decision making process.  


Melbourne campuses

Students studying under the VU Block Model.

Assessment type Description Grade
Test Multiple Choice Tests - 3 progressive assessments (10%, 10%, 30%) 50%
Assignment Share-market-Listed 30%
Journal Reflective Journal - reflect on content & experience 20%

Other locations

Assessment type Description Grade
Test i) Weekly Online Multiple Choice Tests - 10% and ii) Mid-semester Multiple Choice Test - 10% 20%
Presentation Oral Presentation - Problem Solving 5%
Assignment Share-market-Listed 25%
Examination Final Exam (3 Hours) 50%

Required reading

Accounting: Business Reporting For Decision Making, 6th Edition,
Birt, J., Chalmers, K., Maloney, S., Brooks, A., and Oliver, J., (2017)
Wiley Direct Australia Ltd.

Latest version of text book is now only available as an e-book.

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