MAA261 - Financial Accounting
| Year: | 2027 unit information |
|---|---|
| Enrolment modes: | Trimester 1: Burwood (Melbourne), Waterfront (Geelong), Online Trimester 2: Burwood (Melbourne), Online Trimester 3: Burwood (Melbourne), Online |
| Credit point(s): | 1 |
| Previously coded as: | MAA203 |
| EFTSL value: | 0.125 |
| Cohort rule: | Nil |
| Prerequisite: | MAA103 |
| Corequisite: | Nil |
| Incompatible with: | Nil |
| 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 3 hour on-campus seminar each week. |
| Scheduled learning activities - online: | 1 x 3 hour online seminar (recordings provided) each week. |
Content
This unit equips students with practical knowledge of International Financial Reporting Standards (IFRSs) and Australian Accounting Standards (AASBs), enabling you to prepare, analyse, and interpret general purpose financial statements. Students develop core competencies in applying accounting policies and exercising professional judgement to address authentic financial reporting issues. This unit explores the regulatory environment for financial reporting and covers the essential components of modern accounting practice. Key topics include the accounting treatment of inventory, receivables, property, plant and equipment, intangible assets, liabilities, and equity, as well as critical reporting areas such as revenue recognition, cash flow statements, and disclosure principles.
You will gain hands-on experience using contemporary accounting software to record business transactions and prepare financial statements. Alongside technical skills, you will develop critical thinking and analytical capabilities to evaluate complex accounting scenarios and make informed professional judgement.
Unit fee information
Fees and charges vary depending on the type of fee place you hold, your course, your commencement year, the units you choose to study and their study discipline, and your study load.
Tuition fees increase at the beginning of each calendar year and all fees quoted are in Australian dollars ($AUD). Tuition fees do not include textbooks, computer equipment or software, other equipment or costs such as mandatory checks, travel and stationery.
For further information regarding tuition fees, other fees and charges, invoice due dates, withdrawal dates, payment methods visit our Current Students website.
Hurdle requirements
Hurdle requirement: Achieve at least 50% of the marks available on Assessment 1 (computerised accounting). This skill is a key requirement of the Professional Accreditation bodies. Additionally, achieve at least 50% of the marks available on the examination to evidence a minimum proficiency in the aligned accounting discipline learning outcomes included in this unit.