This module aims to introduce students to the basic concepts in accounting, finance and costing and the application of these concepts for decision-making by entrepreneurs. On the successful completion of this module an individual should have a clear understanding of the basic accounting system from the recording of transactions to the financial statements, the importance of cash flow and sources of finance and the contribution of basic costing principles that influence pricing decisions and help to control overheads as used in an entrepreneurial business environment.
The topics covered include principles of accounting; accounting transactions; use of accounting software; financial statements and ratios; budgets; break even analysis and pricing decisions; financial growth and business value and business problems and turnaround strategies.
Refer to the specific census and withdrawal dates for the semester(s)/term(s) in which this module is offered.
Minimum total expected workload to achieve the learning outcomes for this module is 150 hours typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The module requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.