James Cook University Subject Handbook - 2024

CO5117 - Introduction to Accounting

Subject Description

This subject provides students with an understanding of the financial statements produced by an accounting system, and the process by which these statements are developed. The subject covers financial recording processes, internal control, the preparation of financial statements, the responsibilities and constraints in the preparation thereof, together with an introduction to the recognition and measurement of specific financial statement elements.

Learning Outcomes

• identify and apply principles and practices of financial reporting in different social, institutional and regulatory environments
• analyse financial statements to evaluate organisational operations and make recommendations for changes in practices
• critically analyse and evaluate transactions to prepare basic financial statements of different types of entities (or reporting entities)
• undertake research to evaluate alternative local and global financial reporting practices

Subject Assessment

• Written > Examination (centrally administered) - (50%) - Individual
• Written > Test/Quiz 1 - (20%) - Individual
• Assessment & report - (30%) - Individual

Note that 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.

Special Assessment Requirements

This is a hurdle subject, students are required to obtain an overall mark of 50% to pass the subject and must pass the final exam.

Inadmissible Subject Combinations:  CO5105

Availabilities