Accounting Principles

Griffith University

Course Description

  • Course Name

    Accounting Principles

  • Host University

    Griffith University

  • Location

    Gold Coast, Australia

  • Area of Study


  • Language Level

    Taught In English

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credit Points

  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    Course Description
    This course introduces the basic concepts and principles of accounting with special emphasis given to the use and interpretation of financial accounting information. Upon completion of the course, students will be able to read, prepare and interpret financial statements and they will have gained an appreciation of their uses and limitations.
    Course Introduction
    Accounting Principles is an introductory foundation course in the Bachelor of Commerce/Bachelor of Business degree programs. It introduces core skills in relation to accounting. It provides introductory knowledge and core skills that are integral for other courses within the programme.
    Course Aims
    The aim of 1101AFE Accounting Principles is to begin to develop your knowledge of basic accounting principles, concepts and processes. It is an important course in the Bachelor of Commerce degree programme and provides a foundation for all other accounting courses.
    On completion of the course you will have a good grounding in the basic concepts of accounting and how the accounting system works.
    1101AFE Accounting Principles provides students with core skills in relation to accounting and begins to develop students' appreciation of accounting's usefulness in organisational decision-making and control that are integral for other courses within the programme. In addition, the knowledge and skills developed in this course are essential for accounting professionals particularly those wishing to gain accreditation with the accounting professional bodies (CPA and ICAA).
    Learning Outcomes
    After successfully completing this course you should be able to:
    1 Demonstrate an understanding of the accounting profession, and accounting concepts and principles underlying transaction analysis.
    2 Demonstrate an understanding of the accounting cycle and the application of double-entry principles and procedures that produce financial statements.
    3 Demonstrate an understanding of the accrual basis of accounting and the use of a worksheet to complete the accounting cycle.
    4 Demonstrate the application of the accounting principles and methods to retail businesses.
    5 Demonstrate an understanding of the purpose and use of subsidiary ledgers and special journals.
    6 Demonstrate knowledge of accounting treatments for inventory and receivables.
    7 Demonstrate an understanding of internal controls and how to achieve them.
    8 Demonstrate the preparation of a bank reconciliation and the application of internal controls to cash receipts and payments.
    9 Demonstrate an understanding of accounting for non-current asset acquisition and depreciation.
    10 Demonstrate an understanding of accounting for partnerships.
    11 Demonstrate an understanding of financial statement ratios, their uses and limitations.
    12 Demonstrate an understanding of the tools employed by external decision-makers in analysing the financial performance and health of a firm.

    Assessment Task

    Weighting/Marked out of

    Log of Learning Activities


    Exam - selected and constructed responses
    Mid Semester Exam


    Assignment - Practice-based Assignment
    Practice set assignment


    Exam - selected and constructed responses
    Final Exam


Course Disclaimer

Courses and course hours of instruction are subject to change.

Eligibility for courses may be subject to a placement exam and/or pre-requisites.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.