MUPC SUBJECT
Accounting
2015
Unit Aims
This unit covers the recording of business events in an accounting worksheet and the preparation of
important accounting reports such as an income statement, a balance sheet and a statement of cash
flows. Other topics include companies, depreciation, ratio analysis and cost volume profit analysis.
Learning Outcomes
After successfully completing this unit students
should be able to:
• Define the following accounting principles and
explain how they are applied in the recording
of business transactions: monetary, business
entity, going concern and period
Required textbooks are available from
Murdoch University Bookshop. All MUPC
subject workbooks are available from the
Murdoch Institute of Technology Office.
Week Topic
Introduction to accounting; Assets,
liabilities and equity; The balance
sheet income and expenses; Accrual
accounting; The income statement
2
The accounting worksheet for a
trading business
3
Depreciation of a non-current asset
4
Test 1
• Record busines transactions in an accounting
worksheet for both a trading business and a
service business
5
Inventory valuation
6
Break even analysis and CVP analysis
• Calculate the depreciation expense using the
following methods: straight line and reducing
balance. Record the depreciation expense in
the income statement and the accumulated
depreciation in the balance sheet.
7
Cash budgets
8
Test 2
9
Companies
• Prepare the following financial statements;
a statement of comprehensive income for a
company, a balance sheet, and a statement of
cash flows
10
The statement of cash flows
11
Revision and test 3
12
Ratio Analysis
13
Revision
• Define, as set out in the Framework for the
Preparation and Presentation of Financial
Statements, the key accounting elements:
assets, liabilities, equity, income and expenses
Doyle, A. (2011). MUPC Accounting 1 and 2.
The table below provides a quick overview
of this unit.
1
• Explain the purpose of the AASB accounting
standards and the Framework for the
Preparation and Presentation of Financial
Statements
Required text
Unit content
• Explain the difference between cash and
accrual accounting and record balance day
adjustments in an income statement and a
balance sheet
• Prepare cash budgets for given periods of time
Assessment
• Calculate business ratios and comment on the
health and performance of a business
General weightings and due dates for each
assessment item are outlined below.
• Calculate important cost volume profit items of
information
Assessment Item
Weighting Due Dates
Class Participation
10%
Continuous
Test 1
15%
Week 4
Test 2
15%
Week 8
Prerequisites and assumed knowledge
Test 3
15%
Week 11
There are no prerequisites for this unit.
Final Examination
45%
Exam week
• Record company formation transactions and
prepare company financial statements
• Calculate the closing inventory and cost of
goods sold of a trading business
Please see the Murdoch Institute of Technology
website for the Academic and English Language
requirements as they apply to your country.
Please note: unit content and assessments may vary from trimester to trimester.
www.murdochinstitute.wa.edu.au
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Published July 2015. V1.0.