THE UNIVERSITY OF SOUTH AUSTRALIA 
ACCT 1006 - Financial Accounting 1 
Final Examination Guide and Notes 2024 
 
Part 01. About This Guide 
Part 02. Sample Final Examination Paper 
Part 03. Suggested Solutions to Final Exam Paper 
Part 04. Final Examination - Hints and Tips 
 
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University of South Australia

ACCT1006: Financial Accounting 1 (Solutions) - UniSA

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ACADEMIC YEAR 2023 - 2024

University	University of South Australia
Study Level	Undergraduate
Area/ Catalogue	ACCT 1006
Course Name	Financial Accounting 1
Notes Title	Final Examination Guide and Notes
Format	PDF
Page Length	38

This guide allows you to understand how the ACCT 1006: Financial Accounting 1, University of South Australia - Final Examination 2024 will be assessed, structured and the likely style and range of questions that would be asked. This self-study set has been thoroughly updated to cover all the examinable topics contained in the latest edition of the exam. It also offers vital information on exam format, what will be on the exam and key concepts you should be focusing your studies on. Students applaud the invaluable tips for how to read the questions, overcome test anxiety, and avoid common pitfalls, all of which help foster exam confidence.

Students will experience and apply a variety of accounting processes influenced by the accounting standards and conceptual framework and be exposed to some of the fundamental theoretical and conceptual issues surrounding the practice of financial accounting.

Main topics to be covered:

Confirmation and expansion of knowledge pertaining to the complete accounting cycle
- Emphasis on the design and implementation of double entry accounting systems
  - Applied to manual and computerised formats
Introduction to the financial reporting environment
- Exposure to various accounting standards used in financial accounting
  - Impact on different entities
Introductory investigation of practical, theoretical, and ethical issues underlying the application of accounting standards
- With particular reference to:
  - Acquisition, depreciation, and disposal of Non-Current Assets
  - Inventories
  - Accounts Receivable
  - Cash and funding alternatives

An introduction to the financial reporting environment including an exposure to various accounting standards used in financial accounting and their impact on different entities
Completing accounting cycle with emphasis on the design and implementation of double entry accounting systems
An introductory investigation of the practical, theoretical and ethical issues underlying the application of accounting standards with particular reference to the acquisition, depreciation and disposal of Non-Current Assets, Inventories, Accounts Receivable, Cash and funding alternatives.

AREA / CATALOGUE	COURSE NAME
ACCT 1006	Financial Accounting 1
ACCT 1008	Accounting for Business
ACCT 2005	Financial Accounting 2
ACCT 2006	Management Accounting
ACCT 3002	Taxation Law 1
BANK 1005	Financial Markets and Institutions
BANK 2007	Business Finance
BANK 3004	Portfolio and Fund Management
BANK 3009	Corporate Valuation and Risk Management
BANK 3011	International Currency and Banking Markets
BUSS 2068	Management and Organisation
ECON 1007	Macroeconomics
ECON 1008	Principles of Economics
ECON 2007	Empirical Business Analysis
ECON 2010	Economic Analysis of Business Decisions
LAWS 1018	Business Law
MARK 1010	Marketing Principles: Trading and Exchange
MATH 1053	Quantitative Methods for Business
MATH 1068	Statistical Methods

ACCT1006: Financial Accounting 1 (Solutions) - UniSA

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