Details for Accounting for Decision Making

This subject introduces students to the concepts of Accounting and an understanding of how it can be used in decision making.  Topics include financial accountability and sustainability, business structures and transactions, an introduction to financial recording and statements, analysing financial/business ratios, budgeting, costing and capital investment. The course is designed as an introduction and therefore will entail a blend of theory and application so that the students can understand the practicalities of accounting. Throughout the course, consideration of business ethics and practices within a Christian worldview is taken in relation to accounting for businesses, churches and not-for-profit organisations.


Quick Info

  • Currently offered by Alphacrucis: Yes
  • Course code: ACC101
  • Credit points: 10
  • Subject coordinator: Philip Lee

Awards offering Accounting for Decision Making

This unit is offered as a part of the following awards:

Unit Content

Curriculum Objective

This subject introduces students to the concepts of Accounting and an understanding of how it can be used in decision making.  Topics include financial accountability and sustainability, business structures and transactions, an introduction to financial recording and statements, analysing financial/business ratios, budgeting, costing and capital investment. The course is designed as an introduction and therefore will entail a blend of theory and application so that the students can understand the practicalities of accounting. Throughout the course, consideration of business ethics and practices within a Christian worldview is taken in relation to accounting for businesses, churches and not-for-profit organisations.

Outcomes

  1. Understand basic terminology of accounting practice:
  • Assets, liabilities and equities
  • Current and non-current assets and liabilities
  • Credit and debit
  1. Explain different business structures available for business operations, and the strengths and weaknesses of each;
  2. Explain the purpose of financial statements;
  3. Demonstrate an ability to analyse and interpret financial statements and reports;
  4. Demonstrate an ability to understand budgets and the budgeting process;
  5. Appraise and utilise financial information for decision making;
  6. Describe the relationship between ethics and the accounting profession, including the incorporation of a Christian worldview;
  7. Describe the business environment in Australia as it pertains to accounting. This includes:
  • annual accounting cycle;  
  • Reporting requirements; 
  • Basic taxation;  
  • Role of auditors; 
  • Ethical considerations: e.g. ability to manipulate financial statements in decisions involving depreciation and asset write-offs. 

Subject Content

  1. Introduction to accounting / Business sustainability, accountability and ethics
  2. Business structures
  3. Business transactions
  4. Balance Sheet
  5. Statement and statement of changes in equity
  6. Statement of cash flows
  7. Analysis and interpretation of financial reports
  8. Budgeting
  9. Cost-Volume-Profit analysis
  10. Costing and pricing in an entity
  11. Capital investment
  12. Financing the business & Performance management

This course may be offered in the following formats

  • Face-to-Face
  • Distance/ Global Online

Please consult your course prospectus or enquire about how and when this course will be offered next at Alphacrucis College.

Assessment Methods

  • Online Exams (15%)
  • Case Study (20%)
  • Group Project (15%)
  • Final Exam (50%)

Prescribed Text

Birt, J., Chalmers, K., Maloney, S., Brooks, A. & Oliver, J. (2017). Accounting: Business Reporting for Decision Making, 6th Edition, Milton, Qld: John Wiley & Sons Australia.

Check with the instructor each semester before purchasing any textbooks