208-292 Accounting for Agribusiness

208-276 Introduction to Business and Finance

This subject introduces the concepts of recognition, capture and recording of transactions using double-entry accounting and presentation of such information in financial statements with particular emphasis on transactions relevant to rural and regional businesses. This subject then examines the business cost concepts and frameworks and cost/volume/profit relationships. Internal control concepts are also addressed along with inventory planning and control approaches as they relate to rural processing industries.

Topics include: decision making and the role of accounting and financial reports; the use of basic accounting concepts to capture and record information in the accounting system; summarising and reporting information in financial statements; basic partnership accounting and an introduction to accounting software packages; the manager's role in cost management; costs - terms and concepts; cost behaviour - cost/volume/profit relationships; job order, process costing and activity-based costing concepts (and applications in rural industries; cost estimation and benchmarking; Concept of internal control/systems for controlling cost.

A 3-hour final examination (50%), a 1.5 hour mid-semester written test (25%) and assessment of tutorial problem sheets (25%), equivalent to total of 2500 words.

• Horngren Harrison Bamber Best Fraser and Willet, Accounting. latest edition, Prentice Hall.