Week 10 Discussion Topic

Topics: Balance sheet, Double-entry bookkeeping system, Generally Accepted Accounting Principles Pages: 18 (6189 words) Published: May 22, 2013
PRBA001 Accounting Principles
The course introduces the basic concepts and principles of accounting with special emphasis given to the use and interpretations of financial accounting information. It also familiarises students with the basic techniques used in the preparation of financial statements On completion of the unit students should:  be able to read, understand, interpret and discuss the commonly available financial statements produced by businesses.  have gained an appreciation of the limitations and uses of the commonly available financial statements  be able to appraise the performance of a company using ratio analysis The set text is Horngren, Harrison, Oliver, Best, Fraser, Tan & Willett, Financial th

Accounting, 7 ed, Prentice Hall, Frenchs Forest. ISBN 9781442551930(pbk). The Study Guide should be used with the set text. Read the Study Guide’s introduction and first objective from Week 1 and then read about the topic in the set text. It is likely that an activity will listed which you should complete without making any reference to the answer-guide. If you have any difficulty, with the activity refer back to the Study Guide and set text. Once you have completed the activity, or done as much as you feel that you can do, after a genuine attempt at it, compare your answer with the answer-guide. Highlight any differences and make sure that you understand the reasons for those differences. Once you have done that, move on and repeat the process with the next objective. At the end of each week’s topic there will be tutorial exercises which you should attempt. Again, attempt the questions without reference to the answer-guide, if you have any difficulty refer to the set text or Study Guide. When you have finished, compare your answer with the answer-guide and highlight any differences. It is essential that you have a good attempt at the activities and the tutorial exercises as this will be part of your learning process. The weekly online tests will also assist with this process of knowledge accumulation. The examination is an open book examination, but it is still essential that you do not just understand something, but you actually have acquired knowledge of it as well, as you will be judged on your ability to apply that knowledge. Attempting the exercises helps you to acquire and apply that knowledge and reviewing your attempt helps you to assess your understanding and the progress that you have made in knowledge acquisition.

Charles Darwin University | PRBA001


You are reminded that units are designed to take you through a solid amount of work over a twelve-week period. Your input is expected to take, on average, ten hours per week, including class attendance and the preparation of assignments. The presentations are not designed to replace your reading but to help with the understanding of material that you study. The study guide takes you through the reading from the textbook and advises you which questions to attempt at different times to reinforce your learning, before you proceed to the next section of reading. You are advised to follow the study guide in your private study. You are strongly recommended to keep up to date in your studies. You will find that the material in topics often assumes knowledge of the content of earlier topics.

Simon Morris Lecturer in Accounting

Week 1: Accounting and the business environment and recording business transactions. LEARNING OUTCOMES FOR THIS WEEK On completion of this week’s work you will be able to: Apply accounting concepts and principles Use accounting vocabulary Use the accounting equation Analyse business transactions. Prepare the financial statements. Evaluate business performance. AND. LEARNING RESOURCES Presentations, power points, tutorial exercises, tutorial solutions, tutorial workshops, online tests, and the readings from the Textbook, Horngren, Harrison, Oliver, Best, Fraser, Tan & Willett Financial Accounting, 7 ed,...
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