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Unit of Study

Accounting, Business and Society
UoS Code BUSS1030
Credit points 6
Offered Semester 1 and Semester 2
Prerequisites None
Prohibitions ACCT1001 or ACCT1002 or ACCT1003 or ACCT1004 or ACCT1005
Assumed Knowledge
Additional Information This unit of study is a compulsory part of the Bachelor of Commerce and combined Bachelor of Commerce degrees.
Lectures 1x 1.5hr lecture and 1x 1.5hr tutorial per week
Assessment tutorial contribution (10%), assignment (15%), mid-semester examination (25%), final examination (50%)
Description This unit investigates the fundamentals of accounting and aims to provide a broad understanding of the role of accounting in the context of business and society. The format of the unit is designed to show that there are many uses of accounting data. The focus moves from accountability to decision making; both functions are explained through examples such as the \\\'double entry equation\\\', and from an output (financial statements) perspective. Some more technical aspects of accounting are outlined, including the elements of assets, liabilities, revenues and expenses within simple, familiar scenarios. Besides developing an understanding of the role of accounting via conventional financial reports, recent developments including the discharge of accountability by companies through the release of corporate social and environmental reports and the global financial crisis, are explored through an accounting lens.