To enable students to manage financial transactions and to apply accounting tools to manage financial risk for a small business.
- Learning Outcomes
- 1. Process and record a wide range of financial transactions.
2. Record accounting processes for a GST registered business using current accounting
3. Determine internal controls to minimise financial risk for a business entity.
- - Review of accounting elements and their place in financial statements
- Processing transactions to ledger accounts using debits and credits and applying GST
(manual and computer based software)
- The use of subsidiary ledgers
- Source documentation and transactions journals
- Bank reconciliations and transactions arising
- Transactions for periodic and perpetual inventory systems, property plant and equipment
- Error correction transactions
- Determination and communication of impairment and write off of receivables
- Risk management and the requirement for internal controls
- General internal controls e.g. separation of duties, verification, documentation applied to
- Application of GST and preparation of GST return
- Application of payroll tax requirements
- Application of general internal controls to various accounting cycles including computer
accounting e.g. revenue cycle
- Professional practice attributes: Professional and ethical behaviours, cultural recognition and
sensitivity; teamwork, managing self and others, time management.
- Teaching and Learning Strategy
- Teaching will involve blended delivery methods incorporating the Moodle online delivery platform. Other delivery methods may involve theoretical and practical classes, face to face, lectures, tutorials, workshops, group activities, guest tutors, field trips, role-play, and video conferencing, as appropriate.
- Assessment Criteria
- Assessment in this module is mixed mode. The portfolio is comprised of multiple assessment tasks. Students must attempt and submit all assessments and achieve an overall pass mark of 50% across the portfolio to pass the module.
- Learning and Teaching Resource
- An extended reading list will be supplied by the tutor at commencement of the module. This will be updated annually.