The aim of this subject is to introduce students to financial information systems, both manual and computer based. The basis of the subject is the accurate recording of all transactions following the principles of double entry accounting. In addition, students are introduced to the concepts of internal control and management accounting.
Unit Learning Outcomes: Students who successfully complete this unit will be able to:
1. Explain the importance of accurate and timely recording of financial transactions following generally accepted accounting principles
2. Apply the rules of double entry accounting to manually and digitally record financial transactions in ledgers (general and subsidiary) and journals (general and special) and prepare financial statements.
3. Apply generally accepted accounting principles to the recording and interpretation of a range of business transactions.
4. Work collaboratively in a team environment to achieve set goals related to increasing knowledge of the accounting process.
5. Demonstrate an understanding of the implications of digital technologies and digital business transformation on the role of accountants and accounting practices.