Unit Title: Basic accounting 2

Prerequisite: ACC401

Semester 1: Not offered               Semester 2: Offered on F-F mode

This unit is based on the expansion of knowledge learnt in Years 11 and 12. There are altogether six strands in this course.

• Accounting Systems and Internal Control

Broadens the student’s knowledge on the factors which influence the design of an accounting system and the internal control procedures for its effectiveness.

• Managerial Accounting

Managerial accounting focuses primarily on the preparation of reports for internal users of financial information, such as the managers and officers of a company. In today’s rapidly changing global environment, managers often make decisions that determine their company’s fate—and their own. Managers are evaluated on the results of their decisions. Managerial accounting provides tools for assisting management in making decisions and for evaluating the effectiveness of those decisions.

• Job Order Costing

Provides an overview of the flow of costs in a job order cost accounting system. It focuses on how the manufacturing costs are assigned to specific jobs.

• Cost-Volume-Profit

Highlight the considerations involved in cost behaviour analysis and discuss and illustrate Cost-Volume-Profit (CVP) analysis.

• Budgetary Planning

The primary focus is budgeting—specifically, how budgeting is used as a planning tool by management.

• Incremental Analysis and Capital Budgeting

Explains the management’s decision-making and evaluation process by using incremental analysis and capital budgeting.