ACC101 Principles of Accounting
Unit Code
ACC101
Level
Undergraduate
Campus
Brisbane | Sydney
Prerequisites
None
Credit Points
10
Overview
In Principles of Accounting (ACC101), you will undertake a general overview of accounting and develop an understanding of the accounting principles related to the preparation of financial and managerial reports. This subject introduces you to fundamental accounting theory and practice of recording and reporting financial events. The focus is to illuminate how accounting information is used by various stakeholders in planning, controlling and investment decisions. You will also develop an understanding of the social dimensions of the accounting cycle and the key valuation and allocation methods used for financial statements.
Associated Degrees
Bachelor of Business (Information Systems)
Bachelor of Business (Marketing)
Duration | AQF Level
One Semester | Level 7
Core or elective Subject
☒ core subject
☐ elective subject
Study Modes
√ Face to face on site
√ Full-time
√ Part-time
Learning Outcomes
- Explain the concepts that underline the preparation of general purpose financial reports
- Analyse financial statements
- Explain the accounting information needs of management
- Demonstrate an understanding of the role and preparation of budgets
- Apply various accounting techniques to analyse decisions faced by management
Assessment
AIIHE uses a variety of assessment tools to guide and assess each student’s achievement of their learning outcomes. In this subject there will be in–class activities intended to support you to engage in and reflect on your learning journey and understanding of the subject. You will also undertake assessment tasks related to your skills development, your effective engagement in group work and delivery of collaborative outcomes, including a written report and an oral presentation.
Summary of Assessment
- Students must attempt all assessment tasks, and at least a mark of 50% in total, to pass this subject.
- Assessment in this subject is consistent with and informed by the AIIHE Assessment Policy and Procedure.
| Assessment Task | Due Date | Weighting |
|---|---|---|
| Assessment 1: In-Class Self Reflection of lecture (quiz) |  Week 3-12 | 10% |
| Assessment 2: Individual in-class test on topics covered: Rights and remedies in contract, consumer guarantees in contract (Week 1-6). | Week 8 | 30% |
| Assessment 3: Presentation of 5-8 mins in-class assignment on (vicarious liability, breach of statutory liability, and the impact of civil liability reforms). | Week 10, Week11 | 30% |
| Assessment 4: Final exam on all content the from week 6 onwards of the course. | Week 13 | 30% |
Learning Resources
AIIHE will update the topic coverage of the subject and the available relevant learning resources at the time of subject delivery. In the interim, AIIHE provides the following indicative list of relevant reference material. AIIHE also subscribes to eLearning Resources through the Canvas portal, and where relevant material is available, AIIHE will seek to source reference material from this system for staff and student access.
Prescribed text
- Cunningham, B, Nikolai, L., A., Bazley, J., Kavanagh, M., Simmons, S., James, C. (2025) Accounting: Information for Business Decisions. 5th ed. Cengage Learning Australia.
Texts and References
- Hoggett, J., Edwards, L., Medlin, J., Chalmers, K., Hellmann, A., Beattie, C. and Maxfield, J. (2024) Accounting. 12th ed. Australia: John Wiley & Sons.
Recommended Reading
- Atrill, P., McLaney, E. and Harvey, D. (2025) Accounting for Business Students. 9th ed. Pearson Australia.
- Birt, J., Chalmers, K., Maloney, S., Brooks, A. and Oliver, J. (2026) Accounting. 9th ed. Australia: John Wiley & Sons Ltd.
- Carlon, S., McAlpine-Mladenovic, R., Palm, C., Mitrione, C., Kirk, N. and Wong, L. (2025) Financial Accounting: Reporting, Analysis and Decision Making. 8th ed. Australia: John Wiley & Sons Ltd.