BX2011 - Accounting Principles and Systems

This subject introduces accounting issues such as accounting for financial statement elements; preparation of general purpose financial reports for sole traders and partnerships in the context of the historic cost accounting system in the Australian conceptual framework.

Learning Outcomes

• demonstrate a thorough understanding of the historic cost accounting system, its practice and underlying assumptions and conventions;
• demonstrate the process of recording in an accounting information system from transactions through to the preparation of financial reports;
• prepare and interpret accounting statements for sole traders and partnerships.

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.