Overview
This unit introduces you to key concepts of financial accounting and supports you to apply these concepts to various elements of accounting. You will also examine financial statements and how they are analysed and interpreted for effective decision making by both internal and external users. This unit prepares you for further accounting units.
Details
Pre-requisites or Co-requisites
Anti-requisite: ACCT19084
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 3 - 2026
Attendance Requirements
All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
| Assessment Task | Part Weighting (% of assessment) |
Assessment Security Level | Gen AI Guidance Levels |
|---|---|---|---|
| 1. ASSESSMENT 1 (50% of unit · 3 parts ) | |||
| Part 1 – Part 1 (Practical Assessment) | 14% of 50% | Low | No Gen AI Use |
| Part 2 – Part 2 (Practical Assessment) | 66% of 50% | Low | No Gen AI Use |
| Part 3 – Part 3 (Presentation) | 20% of 50% | Low | No Gen AI Use |
| 2. ASSESSMENT 2 (50% of unit ) | |||
| Online Test (Online Test) | 100% of 50% | Low | No Gen AI Use |
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of 'pass' in order to pass the unit. If any 'pass/fail' tasks are shown in the table above they must also be completed successfully ('pass' grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the 'assessment task' section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University's Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Academic Progression Policy and Procedure
- Student Refund and Credit Balance Policy and Procedure
- Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from Unit evaluations
Clear Unit requirements and Useful feedback - Satisfaction low
Include additional detailed videos on the requirements of the assessments. Allocate 10-15 minutes at the beginning of each week workshop to discuss any issues the students have. Promote the weekly meeting times available for students with the UC and promote them to drop-in and get the benefit.
Feedback from Self-reflection and Discipline meeting discussion
A redevelopment of assessments
To integrate AI into assessments a redevelopment of the assessment components is proposed.
- Describe the accounting conceptual framework as it applies to specific financial reports
- Apply the accounting conceptual framework to the measurement of the elements of accounting
- Examine how financial statements are analysed and interpreted for effective decision making in a range of business structures
- Explain and apply the accounting treatment to record basic business transactions and other events for different types of businesses using the principles of double entry accounting
- Understand how to use accounting software to record business transactions.
ACCT11081 satisfies several learning outcomes specific to external accreditation, which are:
| LO1: Explain the different business structures |
| LO2: Explain the following in relation to financial accounting: a)The role and purpose of accounting, accounting processes and systems; b)The purpose of financial statements; c) The role and purpose of accounting standards; d)The regulatory environment for financial reporting |
| LO3: Record transactions to illustrate the activities of different types of businesses, including sole trader, partnerships and straightforward corporate/company accounts |
| LO4: Explain and apply the accounting treatment to record basic business transactions and other events for different types of businesses using the principles of double entry accounting |
| LO5: Use accounting software to record business transactions |
| LO6: Outline and explain the accounting principles and concepts underlying accounting and financial reporting including the principles of the Conceptual Framework of Accounting and generally accepted accounting principles. |
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
|
1.
Assessment 1
(50% of unit · 3 parts
)
Part 1 -
Practical Assessment
Part 2 -
Practical Assessment
Part 3 -
Presentation
|
|||||
|
2.
Assessment 2
(50% of unit )
Online Test
|
|||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Communication | |||||
| 2 - Problem Solving | |||||
| 3 - Critical Thinking | |||||
| 4 - Information Literacy | |||||
| 5 - Team Work | |||||
| 6 - Information Technology Competence | |||||
| 7 - Cross Cultural Competence | |||||
| 8 - Ethical practice | |||||
| 9 - Social Innovation | |||||
| 10 - First Nations Knowledges | |||||
| 11 - Aboriginal and Torres Strait Islander Cultures | |||||
Textbooks
Horngren's Financial Accounting
- Edition: 9 (2021)
- Authors: Tracie Miller, Brenda L. Mattison, Ella Mae Matsumura, Peter Best, Rebecca Tan, Roger Willett, & David Keene
- Pearson
- Australia
- ISBN: 9780655700357; 0-6557-0035-8
Paperback
Horngren's Financial Accounting
ISBN-9780655700357; 0-6557-0035-8
Financial accounting
- Eighth edition
- Authors: Libby, Robert
- ISBN: 9780078025556 (hardback); 0078025559 (hardback)
- Binding: eBook
Horngren's accounting
- Eight edition (2016)
- Authors: Nobles, Tracie L ; Matsumura, Ella Mae ; Best, Peter ; Fraser, David ; Tan, Rebecca ; Willett, Roger
- Pearson Australia
- Melbourne, Victoria Melbourne, Victoria , Australia
- ISBN: 1-4860-2115-8
- Binding: eBook
Horngren's financial accounting
- Eighth edition (2016)
- Authors: Nobles, Tracie L ; Mattison, Brenda ; Matsumura, Ella Mae ; Best, Peter ; Fraser, David ; Tan, Rebecca ; Willett, Roger
- Pearson Australia
- Melbourne Melbourne , Australia
- ISBN: 1-4860-2116-6; 9781486021161
- Binding: eBook
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Word
- Excel
- MYOB - Essentials on the cloud
All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)
For further information, see the Assessment Tasks.
a.abeygunasekera@cqu.edu.au
Week 0
Begin Date: 09 Nov 2026Module/Topic
Details on the Unit is provided in Moodle
Chapter
Events and Submissions/Topic
Week 1
Begin Date: 16 Nov 2026Module/Topic
Introduction to Accounting and Accounting Systems
Chapter
Chapter 1 of the textbook
Chapter 7 of the textbook
Events and Submissions/Topic
Week 2
Begin Date: 23 Nov 2026Module/Topic
Double Entry Bookkeeping: Recording Business Transactions
Chapter
Chapter 2 of the textbook
Chapter 7 of the textbook
Events and Submissions/Topic
Week 3
Begin Date: 30 Nov 2026Module/Topic
Double Entry Bookkeeping: The Adjusting Process
Chapter
Chapter 3 of the textbook
Events and Submissions/Topic
Week 4
Begin Date: 07 Dec 2026Module/Topic
Double Entry Bookkeeping: Completing the Accounting Cycle
Chapter
Chapter 4 of the textbook
Events and Submissions/Topic
Week 5
Begin Date: 14 Dec 2026Module/Topic
Retailing Operations
Chapter
Chapter 5 of the textbook
Events and Submissions/Topic
Mid-Term Break
Begin Date: 21 Dec 2026Module/Topic
Chapter
Events and Submissions/Topic
Week 6
Begin Date: 04 Jan 2027Module/Topic
Retail Inventory
Chapter
Chapter 6 of the textbook
Events and Submissions/Topic
Week 7
Begin Date: 11 Jan 2027Module/Topic
Receivables
Chapter
Chapter 9 of the textbook
Events and Submissions/Topic
Week 8
Begin Date: 18 Jan 2027Module/Topic
Non-Current Assets
Chapter
Chapter 10 of the textbook
Events and Submissions/Topic
Week 9
Begin Date: 25 Jan 2027Module/Topic
Current Liabilities and Payroll
Chapter
Chapter 11 of the textbook
Events and Submissions/Topic
Week 10
Begin Date: 01 Feb 2027Module/Topic
Statement of Cash Flows
Chapter
Chapter 16 of the textbook
Chapter 12 of Libby et al. (2014) book
Events and Submissions/Topic
Exam Week
Begin Date: 08 Feb 2027Module/Topic
Chapter
Events and Submissions/Topic
Exam Week
Begin Date: 15 Feb 2027Module/Topic
Chapter
Events and Submissions/Topic
Exam Week
Begin Date: 07 Feb 2028Module/Topic
Chapter
Events and Submissions/Topic
This is a 10 week term.
Week 1 starts on the week starting from 16th November 2026.
Week 10 starts on the week starting from the 1st February 2027.
1. ASSESSMENT 1 ( 50% of unit · 3 parts )
Part 1 - Practical Assessment
During the term, you will be required to use MYOB to complete a range of tasks. You will be provided with a MYOB Workbook via Moodle and you are expected to complete that workbook, after completing the recommended training from the MYOB Academy.
You must create a MYOB account and create your business [Guidelines/details provided in the MYOB Workbook uploaded in Moodle].
After creating the MYOB Account, you must complete the online course on ‘Getting started with MYOB Business’ provided in the MYOB Academy [Guidelines/details provided in the MYOB Workbook in Moodle].
The link to the MYOB training course is provided in the MYOB workbook Part 1 which is available in Moodle.
Once the course is completed, you must upload a screenshot related to completing the training course on MYOB. A sample of the screenshot that you must submit is provided in the MYOB workbook.
Week 5 Friday (11 Dec 2026) 5:00 pm AEST
Due week is Week 5 of the 12 week term [and for 10 week term it is the week 4]. Submit the assessment using the link for Part 1 provided in the Assessment tile in Moodle.
Week 7 Friday (8 Jan 2027)
On time submissions will aim to be marked and returned within a 2 week time frame.
The screenshot that shows the student name/Student ID and the completion dates of the five modules will be provided with full marks. Sample of a screenshot that should be submitted is provided in the MYOB workbook.
- Describe the accounting conceptual framework as it applies to specific financial reports
- Apply the accounting conceptual framework to the measurement of the elements of accounting
- Examine how financial statements are analysed and interpreted for effective decision making in a range of business structures
- Explain and apply the accounting treatment to record basic business transactions and other events for different types of businesses using the principles of double entry accounting
- Understand how to use accounting software to record business transactions.
Part 2 - Practical Assessment
After completing the course ‘Getting started with MYOB Business’ mentioned in Task 1 as provided in the other document, you will have to complete the parts 2 & 3 of the Assessment 1.
In this workbook details on several activities that had taken place in a hypothetical business is provided. You will have to follow the step-by-step instructions documented on in this workbook as well as use the knowledge you gained through the course ‘Getting started with MYOB Business’ to complete the recording of the given business transactions. Complete all the step-by-step instructions documented in this workbook.
After all the entries are made in MYOB, you can generate the: (1) Income statement; and (2) Balance sheet using MYOB. Then based on these two financial statements (i.e., Income statement and Balance sheet), you are required to write a report (only 500-750 words) analysing the financial performance and financial position of the business. In doing this analysis, you should use ratios or any other techniques to facilitate your analysis. You can do your own search on how to analyse the financial performance and financial position of a business as well as you can use the knowledge gathered during previous financial accounting related units that you have studied (if any). Also, you must include your references at the end of the report. These references are not included for the word count.
Then, submit the following three documents using the link 2 given in Moodle:
i. The Income Statement (this should be generated using MYOB)
ii. The Balance Sheet (this should be generated using MYOB)
iii. The report you write analysing the financial performance and financial position of the business. This report must be written using the Income Statement and the Balance Sheet that was generated using MYOB.
There will be two sessions conducted by the ALC staff on report writing and presentations, during the workshop time. That will give you more insights on writing your report in Part 2 and designing and recording the presentation in Part 3. Details on these two workshop dates will be given in the Moodle page.
Week 8 Friday (15 Jan 2027) 5:00 pm AEST
Due week is Week 8 of the 12 week term [and for 10 week term it is the week 7]. Submit the assessment using the link for Part 2 provided in the Assessment tile in Moodle.
Week 10 Friday (29 Jan 2027)
On time submissions will aim to be marked and returned within a 2 week time frame.
- Describe the accounting conceptual framework as it applies to specific financial reports
- Apply the accounting conceptual framework to the measurement of the elements of accounting
- Examine how financial statements are analysed and interpreted for effective decision making in a range of business structures
- Explain and apply the accounting treatment to record basic business transactions and other events for different types of businesses using the principles of double entry accounting
- Understand how to use accounting software to record business transactions.
Part 3 - Presentation
Using your report on the financial performance and financial position of the business (which was submitted as Part 2), create a PowerPoint Presentation and record your presentation
Your presentation should be 7-10 minutes, with a maximum of 8 Slides. You should include the following in your presentation:
1. Your views on the financial position and financial performance of the entity based on your reports
2. Your learning experience of MYOB with this assessment.
There will be two sessions conducted by the ALC staff on report writing and presentations, during the workshop time. That will give you more insights on writing your report in Part 2 and designing and recording the presentation in Part 3. Details on these two workshop dates will be given in the Moodle page.
Week 9 Friday (22 Jan 2027) 5:00 pm AEST
Due week is Week 9 of the 12 week term [and for 10 week term it is the week 8]. Submit the assessment using the link for Part 3 provided in the Assessment tile in Moodle.
Week 11 Friday (5 Feb 2027)
On time submissions will aim to be marked and returned within a 2 week time frame.
- Describe the accounting conceptual framework as it applies to specific financial reports
- Apply the accounting conceptual framework to the measurement of the elements of accounting
- Examine how financial statements are analysed and interpreted for effective decision making in a range of business structures
- Explain and apply the accounting treatment to record basic business transactions and other events for different types of businesses using the principles of double entry accounting
- Understand how to use accounting software to record business transactions.
2. ASSESSMENT 2 ( 50% of unit )
Online Test
The Online test will be conducted during the Exam week.
The link for the Online Test will be provided under the Assessment tile in Moodle.
There will be 12-15 questions, and the content covered during the 10 weeks will be examined in the online test. There will be calculations similar to the ones done during the workshops, multiple choice questions, fill in the blank questions and long and short answer questions. A complete understanding on the contents of all weeks is essential to answer the questions.
A sample practice online test will be made available on Friday in week 9.
Exam Week Monday (15 Feb 2027) 3:30 pm AEST
The online test will be scheduled during the exam weeks.
Marks will be returned with Certification of Grades.
A marking scheme will be used based on the questions in the online test.
- Describe the accounting conceptual framework as it applies to specific financial reports
- Apply the accounting conceptual framework to the measurement of the elements of accounting
- Examine how financial statements are analysed and interpreted for effective decision making in a range of business structures
- Explain and apply the accounting treatment to record basic business transactions and other events for different types of businesses using the principles of double entry accounting
- Understand how to use accounting software to record business transactions.
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
