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 306-102 Accounting Concepts

Note

Accounting Concepts is a single subject alternative to 306-103 Accounting 1A and 306-104 Accounting 1B. It is a non-specialised subject for students who do not wish to major in Accounting. A quota applies to non-Commerce students. Students may not gain credit for both Accounting Concepts 306-102 and either 306-103 Accounting 1A or 306-104 Accounting 1B.

Coordinator

Mr I Hilton

Semester

2

Contact

Two 1-hour lectures and a 1-hour tutorial a week

Subject Description

Basic balance sheet and income statement concepts: assets; liabilities; owners' equity; revenue; expenses. The measurement of profit. Significant balance sheet and income statement relationships. The nature of depreciation. Methods of calculating depreciation. Job costing and project accounting. Profit measurement in relation to projects. Cost/volume/profit analysis as a short-term decision tool. Discounted cash flow analysis as a tool for long-run decisions; basic taxation.

Assessment

A 2-hour end-of-semester examination (80%); and one assignment (20%). Satisfactory completion of this subject requires a 50% pass in the examination.

Search : Index : Faculty of Economics and Commerce : Accounting and Finance
Next 306-103 Accounting 1A
 
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