AYN481 Exploring Financial Accounting Systems
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | AYN481 |
|---|---|
| Prerequisite(s): | BSN451 |
| Antirequisite(s): | AYN416 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
Unit Outline: Semester 1 2027, Gardens Point, Internal
| Unit code: | AYN481 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | BSN451 |
| Anti-requisite: | AYN416 |
Overview
This foundational financial accounting unit comprehensively introduces the core concepts, processes, and practices of accounting for Australian entities. It covers the preparation and analysis of financial statements, fundamental to financial decision-making. The ability to accurately prepare, analyse, and interpret financial statements, adhere to correct accounting procedures, and provide evidence on the financial health and stability of firms is a requirement for a range of graduate-entry accountancy positions. The knowledge and skills you will develop in this unit are relevant to AYN485 Accounting in the Corporate World, which builds on this unit by extending your analytical and advisory skills for more complex needs and reporting requirements.
Learning Outcomes
On successful completion of this unit you will be able to:
- Convert everyday business events into accounting language using appropriate concepts, terminology, and principles. [KS 1.1]Relates to: PG Business Capabilities 2027: KS (1.1)
- Apply financial accounting procedures in compliance with relevant regulatory and reporting requirements. [KS 1.1, KS 1.2]
- Generate general purpose financial reports for external stakeholders, both manually and using a computerised accounting package. [KS 1.2, HO 2.1]
- Demonstrate the ability to analyse financial statements, calculate key financial ratios, manage working capital, and apply sound judgment in interpreting financial results to support decision-making. [HO 2.1, HO 2.2]
Content
This unit introduces foundational accounting principles and digital practices, including emerging technologies such as Generative AI, within the context of the Australian regulatory framework. Key areas of study include the accounting cycle for service and merchandising entities, internal control systems, and the preparation and interpretation of financial statements. Students will explore topics such as transaction recording, inventory and asset management, liabilities, business structures, and cash flow analysis, with reference to the Australian equivalents to International Financial Reporting Standards (IFRS).
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
1.2 Leverage digital technologies, data-driven tools, technical and research skills to organise and interpret discipline and professional practice knowledge to investigate digitally enhanced accounting environments.
Higher Order Thinking Skills (HO)
2.1 Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
2.2 Exercise creativity and intellectual independence and make evidence-based decisions and judgements in planning, designing, and executing strategic responses to address real world accounting challenges.
Professional Communication (PC)
3.1 Use information and digital literacy skills to communicate effectively and professionally in written forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
3.2 Use information and digital literacy skills to communicate effectively and professionally in oral forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
Teamwork & Self (TS)
4.1 Exercise self- reflection and accountability in applying knowledge and skills to support continuous learning, adaptability and effective professional growth.
4.2 Apply collaborative capabilities to work effectively in diverse teams and across complex, interdisciplinary accounting environments.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate ethical reasoning and apply legal and governance principles to critically evaluate and respond to complex accounting decisions and practices.
5.2 Apply socially responsible and sustainability-focused thinking to analyse accounting issues and reflect on the broader impact of organisations in national and global contexts.
Learning Approaches
In this unit, you will learn by engaging in the following approaches and activities designed to support your understanding of financial reporting and accounting principles.
You will participate in weekly learning activities that build foundational knowledge and extend your understanding through practical application, helping you to develop your analytical and problem-solving skills. These include engaging with interactive online modules, completing self-directed, textbook-based practice questions, and reflecting on weekly reading tasks. You are expected to prepare by reviewing the materials provided on the unit Canvas site and actively working through practice exercises that reinforce key concepts.
As part of the unit’s digital strategy, you will be introduced to accounting software tools that support the preparation and analysis of financial statements, helping you build confidence in using technology relevant to professional practice. This unit adopts a learning approach that is grounded in professional contexts and expectations, preparing you to apply theoretical knowledge in authentic accounting environments.
In this unit, feedback will be provided by census in the form of optional formative quizzes.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester, which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g., criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills, and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Integrated Accounting Project
You will be required to complete a financial reporting task using accounting software, supported by digital tools such as Generative AI for research and interpretation. You will use accounting software to set up the accounting records of a business, input typical transactions, and prepare appropriate reports.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative and Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), HO (2.2)
Assessment: Final Exam
The final exam will assess your understanding across all topics covered in the unit. You’ll be asked to answer both practical and higher-order thinking questions.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is a Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative and Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), HO (2.2)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resources will be provided on the unit Canvas site.
Resource Materials
Prescribed text(s)
Carlon, McAlpine, Lee, Mitrione, Kirk, Wong (2026) Financial Accounting: Reporting, Analyses and Decision Making 8th edition.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with learning and teaching activities in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Postgraduate) 2027
HO (2.1): Critical Analysis
Relates to: ULO3, ULO4, Integrated Accounting Project, Final Exam
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO4, Integrated Accounting Project, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, Integrated Accounting Project, Final Exam
KS (1.2): Technical and Technological Skills
Relates to: ULO2, ULO3, Integrated Accounting Project
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS13 Master of Professional Accounting
- Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
Relates to: ULO1, ULO2, Integrated Accounting Project, Final Exam - Leverage digital technologies, data-driven tools, technical and research skills to organise and interpret discipline and professional practice knowledge to investigate digitally enhanced accounting environments.
Relates to: ULO2, ULO3, Integrated Accounting Project - Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
Relates to: ULO3, ULO4, Integrated Accounting Project, Final Exam - Exercise creativity and intellectual independence and make evidence-based decisions and judgements in planning, designing, and executing strategic responses to address real world accounting challenges.
Relates to: ULO4, Integrated Accounting Project, Final Exam
BS67 Graduate Diploma in Business (Accounting)
- Apply advanced interdisciplinary knowledge, including relevant research principles and methods to understand and respond to accounting.
Relates to: ULO1, ULO2, Integrated Accounting Project, Final Exam - Apply technical, digital, and research skills to organise, interpret, and evaluate accountingknowledge and practice to investigate business issues in digitally enhanced environments.
Relates to: ULO2, ULO3, Integrated Accounting Project - Critically investigate real-world accounting issues and challenges using analysis, evaluation, and synthesis of interdisciplinary knowledge, including theory and practice.
Relates to: ULO3, ULO4, Integrated Accounting Project, Final Exam - Exercise innovative thinking and intellectual independence to make informed decisions and judgements in planning evidence-based responses to complex and evolving accounting contexts.
Relates to: ULO4, Integrated Accounting Project, Final Exam
Unit Outline: Semester 2 2027, Gardens Point, Internal
| Unit code: | AYN481 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | BSN451 |
| Anti-requisite: | AYN416 |
Overview
This foundational financial accounting unit comprehensively introduces the core concepts, processes, and practices of accounting for Australian entities. It covers the preparation and analysis of financial statements, fundamental to financial decision-making. The ability to accurately prepare, analyse, and interpret financial statements, adhere to correct accounting procedures, and provide evidence on the financial health and stability of firms is a requirement for a range of graduate-entry accountancy positions. The knowledge and skills you will develop in this unit are relevant to AYN485 Accounting in the Corporate World, which builds on this unit by extending your analytical and advisory skills for more complex needs and reporting requirements.
Learning Outcomes
On successful completion of this unit you will be able to:
- Convert everyday business events into accounting language using appropriate concepts, terminology, and principles. [KS 1.1]Relates to: PG Business Capabilities 2027: KS (1.1)
- Apply financial accounting procedures in compliance with relevant regulatory and reporting requirements. [KS 1.1, KS 1.2]
- Generate general purpose financial reports for external stakeholders, both manually and using a computerised accounting package. [KS 1.2, HO 2.1]
- Demonstrate the ability to analyse financial statements, calculate key financial ratios, manage working capital, and apply sound judgment in interpreting financial results to support decision-making. [HO 2.1, HO 2.2]
Content
This unit introduces foundational accounting principles and digital practices, including emerging technologies such as Generative AI, within the context of the Australian regulatory framework. Key areas of study include the accounting cycle for service and merchandising entities, internal control systems, and the preparation and interpretation of financial statements. Students will explore topics such as transaction recording, inventory and asset management, liabilities, business structures, and cash flow analysis, with reference to the Australian equivalents to International Financial Reporting Standards (IFRS).
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
1.2 Leverage digital technologies, data-driven tools, technical and research skills to organise and interpret discipline and professional practice knowledge to investigate digitally enhanced accounting environments.
Higher Order Thinking Skills (HO)
2.1 Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
2.2 Exercise creativity and intellectual independence and make evidence-based decisions and judgements in planning, designing, and executing strategic responses to address real world accounting challenges.
Professional Communication (PC)
3.1 Use information and digital literacy skills to communicate effectively and professionally in written forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
3.2 Use information and digital literacy skills to communicate effectively and professionally in oral forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
Teamwork & Self (TS)
4.1 Exercise self- reflection and accountability in applying knowledge and skills to support continuous learning, adaptability and effective professional growth.
4.2 Apply collaborative capabilities to work effectively in diverse teams and across complex, interdisciplinary accounting environments.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate ethical reasoning and apply legal and governance principles to critically evaluate and respond to complex accounting decisions and practices.
5.2 Apply socially responsible and sustainability-focused thinking to analyse accounting issues and reflect on the broader impact of organisations in national and global contexts.
Learning Approaches
In this unit, you will learn by engaging in the following approaches and activities designed to support your understanding of financial reporting and accounting principles.
You will participate in weekly learning activities that build foundational knowledge and extend your understanding through practical application, helping you to develop your analytical and problem-solving skills. These include engaging with interactive online modules, completing self-directed, textbook-based practice questions, and reflecting on weekly reading tasks. You are expected to prepare by reviewing the materials provided on the unit Canvas site and actively working through practice exercises that reinforce key concepts.
As part of the unit’s digital strategy, you will be introduced to accounting software tools that support the preparation and analysis of financial statements, helping you build confidence in using technology relevant to professional practice. This unit adopts a learning approach that is grounded in professional contexts and expectations, preparing you to apply theoretical knowledge in authentic accounting environments.
In this unit, feedback will be provided by census in the form of optional formative quizzes.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester, which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g., criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills, and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Integrated Accounting Project
You will be required to complete a financial reporting task using accounting software, supported by digital tools such as Generative AI for research and interpretation. You will use accounting software to set up the accounting records of a business, input typical transactions, and prepare appropriate reports.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative and Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), HO (2.2)
Assessment: Final Exam
The final exam will assess your understanding across all topics covered in the unit. You’ll be asked to answer both practical and higher-order thinking questions.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is a Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative and Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), HO (2.2)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resources will be provided on the unit Canvas site.
Resource Materials
Prescribed text(s)
Carlon, McAlpine, Lee, Mitrione, Kirk, Wong (2026) Financial Accounting: Reporting, Analyses and Decision Making 8th edition.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with learning and teaching activities in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Postgraduate) 2027
HO (2.1): Critical Analysis
Relates to: ULO3, ULO4, Integrated Accounting Project, Final Exam
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO4, Integrated Accounting Project, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, Integrated Accounting Project, Final Exam
KS (1.2): Technical and Technological Skills
Relates to: ULO2, ULO3, Integrated Accounting Project
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS13 Master of Professional Accounting
- Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
Relates to: ULO1, ULO2, Integrated Accounting Project, Final Exam - Leverage digital technologies, data-driven tools, technical and research skills to organise and interpret discipline and professional practice knowledge to investigate digitally enhanced accounting environments.
Relates to: ULO2, ULO3, Integrated Accounting Project - Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
Relates to: ULO3, ULO4, Integrated Accounting Project, Final Exam - Exercise creativity and intellectual independence and make evidence-based decisions and judgements in planning, designing, and executing strategic responses to address real world accounting challenges.
Relates to: ULO4, Integrated Accounting Project, Final Exam
BS67 Graduate Diploma in Business (Accounting)
- Apply advanced interdisciplinary knowledge, including relevant research principles and methods to understand and respond to accounting.
Relates to: ULO1, ULO2, Integrated Accounting Project, Final Exam - Apply technical, digital, and research skills to organise, interpret, and evaluate accountingknowledge and practice to investigate business issues in digitally enhanced environments.
Relates to: ULO2, ULO3, Integrated Accounting Project - Critically investigate real-world accounting issues and challenges using analysis, evaluation, and synthesis of interdisciplinary knowledge, including theory and practice.
Relates to: ULO3, ULO4, Integrated Accounting Project, Final Exam - Exercise innovative thinking and intellectual independence to make informed decisions and judgements in planning evidence-based responses to complex and evolving accounting contexts.
Relates to: ULO4, Integrated Accounting Project, Final Exam