Introductory Financial Accounting

This subject focuses on the nature of accounting from the perspective of a preparer of financial reports in order to understand financial reporting from a user perspective. The method of recording and reporting transactions in an accounting system to ultimately provide the foundation for judgements and decisions in preparation of financial reports will be covered. The importance of accounting within the Australian external reporting environment is explained as well as adherence to the Conceptual Framework for accounting that provides a theoretical underpinning of accounting standards and reporting. Choices within accounting standards and the implications for financial reports are explored. This subject also covers an overview of analytical methods used in

介绍财务会计的基本概念和原则。

• 1Identify the principal regulatory authorities that influence the framework for external financial reporting in Australia and explain their roles and functions in this process;
• 2Describe the nature and objectives of General Purpose Financial Reporting;
• 3Explain the key components of the Conceptual Framework for accounting as it applies to the preparation of general purpose financial statements;
• 4Record accounting transactions and prepare the Trial Balance, Balance Sheet and the Income Statement;
• 5Explain the main issues to be considered in relation to reporting of key transactions and balances reported in the Balance Sheet and Income Statement;
• 6Describe the nature of company transactions and account for various capital transactions and profit distribution;
• 7Describe the policy choices available to preparers and the flexibility that preparers have in applying the accounting standards;
• 8Identify limitations in financial reporting;
• 9Construct and analyse a Cash Flow Statement;
• 10Apply analytical methods to assess a firm's performance and financial position in comparison with past performance and with other firms;
• 11Identify an ethical dilemma and explain an ethical outcome; and
• 12Explain the purpose of a firm's sustainability report.