Acct1501 Wk1
THE UNIVERSITY OF NEW SOUTH WALES
Australian School of Business
School of Accounting ACCT 1501: Accounting and Financial Management 1A
Week 1
ADJUSTMENT TO ACCOUNTING ENTRIES
Student Handout
Contents: 1. Introduction 2. Tutorial questions – Week 1 3. SAC2 Extract 4. Woolworths Annual Report 2007 Extract 5. Lecture slides
Lecturer: Trish Strong School of Accounting UNSW QUAD 3067 Ph:9385 6657 t.strong@unsw.edu.au
Session 1, 2011
Course website: http://telt.unsw.edu.au/
1.
Introduction
Welcome to Accounting and Financial Management 1A. In this first lecture you will be introduced to the lecture staff on the course and be given the Course Outline. We will be outlining the objectives of the subject, its structure and requirements as described in the Course Outline and answer any questions you may have about the course. We will be referring to the Woolworths 2007 Annual Report (WW2007) throughout the course. The annual report is included as an appendix in your course textbook (Trotman & Gibbons (T&G) pages 709-748). We will then begin to explore the nature of accounting and introduce general purpose financial reports.
Learning objectives
At the end of this topic you will be able to: Understand the overall course requirements and assessment tasks for this unit. Understand how these assessment tasks link to the ASB graduate attributes. Define Accounting Understand the foundations of modern accounting practices including the underlying assumptions of financial reporting Be aware of the general purpose of financial reports (GPFR) and the users of these reports. Begin to understand the accrual concept Begin to become familiar with the Woolworths 2007 annual report and the information it contains.
Required Reading
ACCT1501: Accounting and Financial Management 1A: Course Outline Trotman & Gibbins Chapter 1: sections 1.1 to 1.4, & 1.9 - 1.11; Appendix 1 (WW2007) SAC 2, Objective of General Purpose Financial Reporting, Extract, reproduced below.
AFM1A
Australian School of Business
School of Accounting ACCT 1501: Accounting and Financial Management 1A
Week 1
ADJUSTMENT TO ACCOUNTING ENTRIES
Student Handout
Contents: 1. Introduction 2. Tutorial questions – Week 1 3. SAC2 Extract 4. Woolworths Annual Report 2007 Extract 5. Lecture slides
Lecturer: Trish Strong School of Accounting UNSW QUAD 3067 Ph:9385 6657 t.strong@unsw.edu.au
Session 1, 2011
Course website: http://telt.unsw.edu.au/
1.
Introduction
Welcome to Accounting and Financial Management 1A. In this first lecture you will be introduced to the lecture staff on the course and be given the Course Outline. We will be outlining the objectives of the subject, its structure and requirements as described in the Course Outline and answer any questions you may have about the course. We will be referring to the Woolworths 2007 Annual Report (WW2007) throughout the course. The annual report is included as an appendix in your course textbook (Trotman & Gibbons (T&G) pages 709-748). We will then begin to explore the nature of accounting and introduce general purpose financial reports.
Learning objectives
At the end of this topic you will be able to: Understand the overall course requirements and assessment tasks for this unit. Understand how these assessment tasks link to the ASB graduate attributes. Define Accounting Understand the foundations of modern accounting practices including the underlying assumptions of financial reporting Be aware of the general purpose of financial reports (GPFR) and the users of these reports. Begin to understand the accrual concept Begin to become familiar with the Woolworths 2007 annual report and the information it contains.
Required Reading
ACCT1501: Accounting and Financial Management 1A: Course Outline Trotman & Gibbins Chapter 1: sections 1.1 to 1.4, & 1.9 - 1.11; Appendix 1 (WW2007) SAC 2, Objective of General Purpose Financial Reporting, Extract, reproduced below.
AFM1A