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HE Unit Template
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Principles of Accounting and Finance
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BUACC1508 - Principles of Accounting and Finance
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20240200
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1.1
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2026-09-10
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2026-09-10
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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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080101 - Accounting
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<a href="http://www.federation.edu.au/locate/unit/buacc1508">View unit fees</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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<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>•Introduction to the nature and function of accounting, regulations and standards<br>
•Double-entry bookkeeping, transactions analysis and accounting equation (s)<br>
•Basic elements of accounting and financial statements<br>
•Cash and accrual accounting<br>
•Analysis of financial reports and impact of tax<br>
•Financial decision-making and control<br>
•Introduction to finance<br>
•Financial mathematics and Investments</p>
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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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2027
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2026
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BUACC1508 - Principles of Accounting and Finance
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BUACC1508 - Principles of Accounting and Finance
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Semester
Semester 1
Semester 2
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Year
2027
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>•Introduction to the nature and function of accounting, regulations and standards<br> •Double-entry bookkeeping, transactions analysis and accounting equation (s)<br> •Basic elements of accounting and financial statements<br> •Cash and accrual accounting<br> •Analysis of financial reports and impact of tax<br> •Financial decision-making and control<br> •Introduction to finance<br> •Financial mathematics and Investments</p>
Key information
Institute / school:
Institute of Innovation, Science & Sustainability
Discipline:
Business
Study level:
Undergraduate
Credit points:
15
EFTSL:
0.125
Field of education:
080101 - Accounting
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Fee information:
<a href="http://www.federation.edu.au/locate/unit/buacc1508">View unit fees</a>
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>Understand 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>Understand 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 an understanding of different business structures and record 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>Review of selected topics</p>
<p>Individual assessment</p>
<p>10-30%</p>
K1, K2, K5, S1, S2, A1
2
<p>Group report and/or task</p>
<p>Group Assignment</p>
<p>20-40%</p>
K1, K2, K3, S1, S2, S3, A1
3
<p>Comprehensive review of topics/final test</p>
<p>Final Assessment</p>
<p>40-60%</p>
K1, K2, K3, K4, K5, S1, S2, S3, S4, A1, A2
Supplementary assessment available:
Yes
Supplementary 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.
FedTASK 2: Leadership
The ability to apply professional skills and behaviours in leading others.
FedTASK 3: Critical Thinking and Creativity
The ability to work in complexity and ambiguity using imagination to create new ideas.
FedTASK 4: Digital Literacy
The ability to work fluently across a range of tools and applications to achieve a range of skills.
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.
Key information
Institute / school:
Institute of Innovation, Science & Sustainability
Discipline:
Business
Study level:
Undergraduate
Credit points:
15
EFTSL:
0.125
Field of education:
080101 - Accounting
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Fee information:
<a href="http://www.federation.edu.au/locate/unit/buacc1508">View unit fees</a>
Additional information
Cards Section - Non Research
Add Info Static Text
Internal reference: BUACC1508 - U1.1