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MAA261 - Financial Accounting


2021 unit information

Enrolment modes:Trimester 1: Burwood (Melbourne), Warrnambool, Waterfront (Geelong), Cloud (online)
Trimester 2: Burwood (Melbourne), Cloud (online)
Trimester 3: Burwood (Melbourne), Cloud (online)
Credit point(s):1
Previously coded as:MAA203
EFTSL value:0.125
Unit Chair:Trimester 1: Tracey McDowall
Trimester 2: Tracey McDowall
Trimester 3: Wei Shi
Cohort rule:Nil


Incompatible with: MAA102, MAA203
Typical study commitment:

Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit.

Scheduled learning activities - campus:

1 x 2 hour class, 1 x 1 hour seminar per week

Scheduled learning activities - cloud:

Online independent and collaborative learning including weekly online seminars of 1 hour duration


This unit builds on introductory accounting knowledge and is designed to give students a detailed understanding of financial reporting concepts. Students should have a sound knowledge of the recording process before undertaking this unit. In this unit students will learn how to evaluate and apply key accounting standards  in the preparation  of financial reports. In particular you will learn  the importance of financial information in supporting effective business decisions. . The skills gained in the unit will be able to be used in numerous business situations.


These are the Learning Outcomes (ULO) for this Unit
At the completion of this Unit, successful students can:

Deakin Graduate Learning Outcomes


Comprehend accounting as a language of business.

GLO1: Discipline-specific knowledge and capabilities
GLO3: Digital literacy
GLO6: Self-Management
GLO7: Teamwork


Understand the nature of the accounting information systems; record transactions in journals and ledgers; incorporate end of the year adjustments; and prepare financial statements of small and medium scale business organisations.

GLO1: Discipline-specific knowledge and capabilities
GLO3: Digital literacy


Record business transactions and prepare financial statements using an accounting software (XERO), in small and medium scale business organisations.

GLO1: Discipline-specific knowledge and capabilities
GLO3: Digital Literacy


Evaluate the treatment of items in the financial statements and appreciate the impact of accounting standards on business organisations.

GLO1: Discipline-specific knowledge and capabilities
GLO6: Self-management
GLO7: Teamwork


Apply related accounting concepts, assumptions and principles and prepare accounts of businesses in the forms of a 'sole owner' and ‘limited liability companies’.

GLO1: Discipline-specific knowledge and capabilities


These Unit Learning Outcomes are applicable for all teaching periods throughout the year


Assessment Description Student output Grading and weighting
(% total mark for unit)
Indicative due week 

Assessment 1: Case study (Individual) Practical assignment comprising:
Part A: Manual Processing
Part B: Xero(cloud) accounting

equivalent to 3,000 words



Part A:20%
Part B: 10%

Week 6

Assessment 2: (Group of 4) Case study

Part A Written analysis and interpretation of accounting issues or systems using appropriate technology tools. (1,000 words) 10%
Part B Reflection of self-management and teamwork 10% (1,000 words)

2,000 words 20% Week 2 & Week 10
Examination (closed book) 2-hours 50% Exam Period

The assessment due weeks provided may change. The Unit Chair will clarify the exact assessment requirements, including the due date, at the start of the teaching period.

Hurdle requirement

Hurdle requirement: achieve at least 50% of the marks available on the examination and submit all assessments.


Learning Resource

The texts and reading list for the unit can be found on the University Library via the link below: MAA261 Note: Select the relevant trimester reading list. Please note that a future teaching period's reading list may not be available until a month prior to the start of that teaching period so you may wish to use the relevant trimester's prior year reading list as a guide only.

Unit Fee Information

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