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HE Unit Template
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Fundamentals of Accounting and Finance
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BUACC1000 - Fundamentals of Accounting and Finance
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20250200
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Course
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3.4
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2026-06-16
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2026-06-16
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Business
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Institute of Innovation, Science & Sustainability
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Business
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Undergraduate
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15
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.125
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080101
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Accounting
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<a href="http://www.federation.edu.au/locate/unit/buacc1000">080101 - Accounting</a>
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Graded (e.g. HD, D, C, etc)
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7
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Bachelor Degree
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Introductory
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<p>This unit is an introduction to basic concepts in accounting and finance and the application of these concepts for decision-making by a wide range of potential users (e.g. shareholders, investment analysts, lenders, managers, etc.). This unit should benefit students who wish to specialise in accounting and/or finance, and will also be of value to students whose primary interest lies elsewhere in the field of business. On completion, students should have a clear understanding of the accounting process and the language of accounting to enable communication with an accounting professional, understand the relevance of accounting information for informed decision-making by a wide range of potential users, and have the ability to analyse and interpret accounting and financial information.</p>
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<p>Topics may include:</p>
<ol>
<li>What is Accounting inc: cash vs accrual accounting and sources of regulation and standards.</li>
<li>Organisations and their reporting boundaries inc: business structures and their accounting requirements.</li>
<li>An introduction to financial accounting inc: transaction analysis and double entry accounting.</li>
<li>Recording transactions in Journals and Ledgers inc: double entry accounting.</li>
<li>The balance sheet inc: definition, recognition and measurement of assets and liabilities.</li>
<li>The income statement and the statement of changes in equity inc: definition and recognition of revenue and expenses. Taxable income and accounting profit.</li>
<li>The statement of cash flows and cash controls.</li>
<li>The analysis of organisations’ external reports inc: financial mathematics and ratio analysis.</li>
<li>An introduction to management accounting.</li>
<li>Budgeting / Financing in business.</li>
<li>The external reporting of social and environmental information.</li>
</ol>
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<p>Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment.</p>
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2026
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2026
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BUACC1000 - Fundamentals of Accounting and Finance
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BUACC1000 - Fundamentals of Accounting and Finance
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Semester
Semester 1
Semester 2
Summer Semester
Year
2026
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Overview
Key information
Requisites
Learning outcomes
Assessment
FedTASK
Parent Region
Overview
Unit description
<p>This unit is an introduction to basic concepts in accounting and finance and the application of these concepts for decision-making by a wide range of potential users (e.g. shareholders, investment analysts, lenders, managers, etc.). This unit should benefit students who wish to specialise in accounting and/or finance, and will also be of value to students whose primary interest lies elsewhere in the field of business. On completion, students should have a clear understanding of the accounting process and the language of accounting to enable communication with an accounting professional, understand the relevance of accounting information for informed decision-making by a wide range of potential users, and have the ability to analyse and interpret accounting and financial information.</p>
Unit content
<p>Topics may include:</p> <ol> <li>What is Accounting inc: cash vs accrual accounting and sources of regulation and standards.</li> <li>Organisations and their reporting boundaries inc: business structures and their accounting requirements.</li> <li>An introduction to financial accounting inc: transaction analysis and double entry accounting.</li> <li>Recording transactions in Journals and Ledgers inc: double entry accounting.</li> <li>The balance sheet inc: definition, recognition and measurement of assets and liabilities.</li> <li>The income statement and the statement of changes in equity inc: definition and recognition of revenue and expenses. Taxable income and accounting profit.</li> <li>The statement of cash flows and cash controls.</li> <li>The analysis of organisations’ external reports inc: financial mathematics and ratio analysis.</li> <li>An introduction to management accounting.</li> <li>Budgeting / Financing in business.</li> <li>The external reporting of social and environmental information.</li> </ol>
Key information
Institute / school:
Institute of Innovation, Science & Sustainability
Discipline:
Business
Study level:
Undergraduate
Credit points:
15
EFTSL:
0.125
Field of education:
<a href="http://www.federation.edu.au/locate/unit/buacc1000">080101 - Accounting</a>
Offering:
<p><strong>Northern Hemisphere Semester 1</strong><p>Shenzhen Polytechnic (HE Partner)</p></p>
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Requisites
Prerequisite
None
Corequisite
None
Exclusion
None
Learning outcomes
Learning outcomes
<p>On successful completion of this unit, students are expected to gain the following [K]nowledge, [S]kills and [A]pplication of knowledge & skills</p>
Learning Outcomes
Ref
Outcome
K1
<p>Identify and demonstrate an understanding of the nature and purpose of financial statements and the environment within which accounting information is prepared and used</p>
K2
<p>Comprehend the way in which accounting transactions are recognised, measured, recorded and reported</p>
K3
<p>Demonstrate an understanding of how accounting information is used for external decision-making and the internal financial management of organisations</p>
K4
<p>Appreciate the relationship between accounting and finance, and the role of accounting information in supporting financial decision making</p>
K5
<p>Gain and demonstrate an understanding of different business structures and show the ability to record the appropriate accounting transactions</p>
S1
<p>Recognise, measure, record and report business transactions and accounting events</p>
S2
<p>Construct foundational accounting processes involved in communicating accounting information to internal and external users</p>
S3
<p>Prepare, interpret and analyse financial statements and evaluate organisational performance</p>
S4
<p>Perform time value of money calculations for single and mixed cash flows</p>
A1
<p>Apply accounting knowledge and skills in a range of situations to generate accounting information suitable for decision-making in internal and external user contexts</p>
A2
<p>Employ accounting information and knowledge of financial and investment evaluation techniques to make wealth-increasing financial decisions</p>
Assessment
Learning Tasks and Assessment
Ref
Learning task
Assessment type
Weighting
Learning outcomes assessed
1
<p>Applying theoretical material to provide written responses to questions in a range of formats, including multiple choice, true/false, short-answer, essay, and case study questions</p>
<p>Written/online individual assessment</p>
<p>10 - 20%</p>
K1, K2, K5, S1, S2, A1
2
<p>Develop a professional presentation and accompanying report analysing and evaluating business financial statements including profitability, efficiency, liquidity, capital structure and market performance.</p>
<p>Individual live independently invigilated oral presentation (min 40%) and accompanying written report</p>
<p>40 - 60%</p>
K1, K2, K3, S1, S2, S3, A1
3
<p>Comprehensive review of topics - final test</p>
<p>Final test</p>
<p>30 - 50%</p>
K1, K2, K3, K4, K5, S1, S2, S3, S4, A1, A2
Supplementary assessment available:
Yes
Supplimentary assessment information:
<p>Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment.</p>
FedTASK
FedTASK
<p>Federation University recognises that students require key transferable employability skills to prepare them for their future workplace and society. FedTASKs (<strong>T</strong>ransferable <strong>A</strong>ttributes <strong>S</strong>kills and <strong>K</strong>nowledge) provide a targeted focus on five key, transferable Attributes, Skills, and Knowledge that are embedded within curriculum, developed gradually towards successful measures and interlinked with cross-discipline and co-operative learning opportunities.</p>
FedTASK
Description of FedTASK outcome
Level
FedTASK 1: Interpersonal
The ability to effectively communicate, interact and work with others both individually and in groups.
<p>Level 3 - Student works independently with limited guidance or works within self-determined guidelines appropriate to context</p>
FedTASK 2: Leadership
The ability to apply professional skills and behaviours in leading others.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK 3: Critical Thinking and Creativity
The ability to work in complexity and ambiguity using imagination to create new ideas.
<p>Level 3 - Student works independently with limited guidance or works within self-determined guidelines appropriate to context</p>
FedTASK 4: Digital Literacy
The ability to work fluently across a range of tools and applications to achieve a range of skills.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK 5: Sustainable and Ethical Mindset
The ability to consider and assess the consequences and impact of ideas and actions in enacting ethical and sustainable decisions.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
Key information
Institute / school:
Institute of Innovation, Science & Sustainability
Discipline:
Business
Study level:
Undergraduate
Credit points:
15
EFTSL:
0.125
Field of education:
<a href="http://www.federation.edu.au/locate/unit/buacc1000">080101 - Accounting</a>
Offering:
<p><strong>Northern Hemisphere Semester 1</strong><p>Shenzhen Polytechnic (HE Partner)</p></p>
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Disclaimer
<em>Information in the Federation Handbook is correct at the time of publication. The University reserves the right to alter any course, unit, procedure or fee.</em>
Additional information
Add Info Static Text
Internal reference: BUACC1000 - U3.4