Course Title: Financial Accounting

Part A: Course Overview

Course Title: Financial Accounting

Credit Points: 12


Course Code




Learning Mode

Teaching Period(s)


City Campus


650T Vocational Business Education


Sem 1 2014,
Sem 2 2014,
Sem 1 2015,
Sem 2 2015,
Sem 1 2016,
Sem 2 2016,
Sem 1 2017,
Sem 2 2017,
Sem 1 2018,
Sem 2 2018

Course Coordinator: Maurice Sheridan

Course Coordinator Phone: +61 3 9925 5455

Course Coordinator Email:

Course Coordinator Location: 080.05.014

Course Coordinator Availability: Monday via email, Tueday - Fridayby appointment

Pre-requisite Courses and Assumed Knowledge and Capabilities

Assumed Knowledge:
It is assumed you have an appreciation of the fundamental accounting concepts and practices which would be achieved through the completion of Accounting in Organisations and Societies.

Course Description

This course provides an introduction to the accounting requirements, concepts and principles that underlie financial accounting. You will learn to evaluate and apply accounting concepts and principles to support effective business decisions. In particular you will undertake an investigation of the accounting information system, cycle and financial statements of a particular organisation in order to come to a reasoned conclusion about the financial condition/status of the organisation.

Objectives/Learning Outcomes/Capability Development


On successful completion of this course you will be able to:

  1. Evaluate the concepts and theories that explain the production and/or usage of financial accounting reports.
  2. Appreciate the role of the social, environmental and regulatory environment in shaping the nature and content of financial reporting.
  3. Produce a range of basic financial reports in a range of contexts that comply with relevant accounting principles and standards.
  4. Interpret financial reports and communicate key findings to a range of stakeholders both internally and externally.
  5. Apply an adaptive and collaborative approach to working with others in the preparation of a Business Folio.
  6. Analyse, interpret and evaluate financial data and accounting information to inform economic decision making in organisations.

Overview of Learning Activities

The major learning activities in this course are:

  • Lectures that cover topic learning outcomes, these will provide an overview of each topic, including the introduction of key terms and worked practical problems.
  • Class exercises and relevant readings are provided in the teaching schedule. You will be completing these tasks during the class time. The classes provide you with a vehicle to be able to question the learning, collaborate with fellow students and to participate in group activities.

In this course you will be encouraged to be an active learner. Your learning will be supported through various in-class and online activities comprising individual and group work. These may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; conducting presentations; producing written work and collaborating with peers on set tasks or projects.

Overview of Learning Resources

This course is supported online by the use of the myRMIT where various materials will be supplied progressively throughout the semester - including lecture outlines, tutorial solutions and other relevant materials. You are advised to regularly check your Course site. If you require assistance with the RMIT library facilities contact the Business Liaison Librarian for your school. Contact details for Business Liaison Librarians are located online on the RMIT Library website.

It is recommended that you have access to a mobile computing device to allow greater flexibility in terms of where you can work on campus, including the classroom and outside of class times.

Overview of Assessment

The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows:

Assessment Task 1 TEST : 20%
Linked CLOs: 1, 2, 4, 5

Assessment Task 2 ASSIGNMENT : 30%
Linked CLOs: 1, 2, 5

Final Examination: 50%
Linked CLOs: 5

Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.