Financial Information for Decision Making
Duration
- One Semester or equivalentThis unit will be delivered on-line in Semester 2 2020.
Contact hours
- 36 hours
2020 teaching periods
Hawthorn
| Higher Ed. Semester 2 | HOL Study Period 4 | |
|---|---|---|
Dates: Results: Last self enrolment: Census: |
Dates: Results: Last self enrolment: Census: |
Swinburne Online
| Teaching Period 2 | ||
|---|---|---|
Dates: Results: Last self enrolment: Census: |
Corequisites
Alternative Tertiary Entry Program: Students who have passed ACC00001 are exempted from taking this unit and must select another unit in its place with advice from a Course Advice Specialist.
Aims and objectives
The aim of this unit is to provide a framework to learn accounting concepts. Students will learn how accounting concepts can be applied in business and provide useful information for evaluating and decision-making. Whatever aspect of business students intend to specialise in, they will need to be familiar with the concepts and principles underlying the practice of accounting. Such knowledge will enable students to understand the importance of financial information in decision-making and thereby provide them with the necessary financial literacy for their future roles in the world of business.
Students who successfully complete this unit will be able to:
1 Discuss and evaluate the role that financial information plays in practice within an environment of business decision making.
2 Apply accounting tools to prepare financial reports for both external and internal business use.
3 Research and evaluate financial information in order to solve problems and to aid business decision making.
4 Organise and communicate financial information, supported by well-reasoned arguments as appropriate.
Unit information in detail
- Teaching methods, assessment, general skills outcomes and content.
Teaching methods
Face to Face Mode:
Online Mode: Hawthorn Online/OUA and Swinburne Online SOL
This includes all:
• Scheduled teaching and learning events and activities (contact hours timetabled in a face-to-face teaching space) and scheduled online learning events (contact hours scheduled in an online teaching space), and
To be successful, students should:
• Read all prescribed materials and/or view videos in preparation for each class
• Attend and engage in all scheduled classes (face to face or online)
• Start assessment tasks well ahead of the due date, and submit assessments promptly
• Read / listen to all feedback carefully, and consider it for future assessment
• Engage with fellow students and teaching staff (don’t hesitate to ask questions)
Scheduled hours: Lectures (12 x 2 hours), 24 hours, Tutorials (12 x 1 hour) 12 hours
Engaging with online content and discussions
• Scheduled teaching and learning events and activities (contact hours timetabled in a face-to-face teaching space) and scheduled online learning events (contact hours scheduled in an online teaching space), and
• Non-scheduled learning events and activities (including directed online learning activities, assessments, independent study, student group meetings, and research)
• Read all prescribed materials and/or view videos in preparation for each class
• Attend and engage in all scheduled classes (face to face or online)
• Start assessment tasks well ahead of the due date, and submit assessments promptly
• Read / listen to all feedback carefully, and consider it for future assessment
• Engage with fellow students and teaching staff (don’t hesitate to ask questions)
Assessment
1. Assignment (Group) 20 - 30%
2. Online Tests (Individual) 20 - 30% (In class test will still occur at Sarawak in semester 1 2020)
3. Final Examination (Individual) 40 - 60%
2. Online Tests (Individual) 20 - 30% (In class test will still occur at Sarawak in semester 1 2020)
3. Final Examination (Individual) 40 - 60%
General skills outcomes
- problem solving skills
- Teamwork skills
- communication skills
- people skills
- ability to tackle unfamiliar problems, and
- ability to work independently
Content
- Business Reporting - Financial reporting – Introduction to financial reports and their use in decision making
- Business Reporting - Recording & reporting business transactions using accrual accounting
- Business Reporting - Preparation and use of Cash Flow Statement
- Performance Assessment - Analysis & Interpretation of Financial Reports
- Performance Assessment - Introduction to Performance Evaluation – business unit & business unit manager
- Business Planning - Revenue & Cost Determination
- Business Planning - Cost Behaviour & Cost Volume Profit Analysis (CVP)
- Business Planning - Operational Decision Making
Study resources
- Reading materials.
Reading materials
Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.