Semester Two 2012
Introduction to Financial Accounting
Accounting processes, preparation and analysis of financial reports, the reporting framework. The course aims to introduce students intending to major in accounting to the essential techniques of financial accounting.
ACCT103 aims to introduce students, who intend to major in accounting, to the essential techniques of financial accounting. Building on ACCT102’s reader’s perspective, ACCT103 presents a preparer’s perspective on financial reporting. Students will learn how to account for a variety of transactions, how to prepare financial reports in accordance with General Accepted Accounting Practices, and how to analyse and interpret financial reports. Topics covered in ACCT103 include: Double-entry book-keeping; Accrual accounting; NZ Regulatory Framework; Accounts receivable; Inventory; Non-current assets; Liabilities; Preparation of financial reports; Analysis and interpretation of financial reports; and Introduction to taxation.
Upon completing ACCT103, students will be able to demonstrate an understanding of:
• Double entry book-keeping and the preparation of general purpose financial reports, including statements of cash flow;
• Accounting for inventory and receivables, property, plant and equipment, and liabilities within the regulatory framework for general purpose financial reports;
• Financial statement analysis to examine the profitability and risk of organisations; and
• Taxation theory, the concept of income, and residency for taxation purposes.
ACCT102 or ACIS102 or AFIS102 or AFIS188
ACIS103, AFIS101, AFIS103, AFIS111, AFIS121, AFIS131
Tutorials are held each week beginning in the second week (except in the weeks of the term tests).
Course Coordinator / Lecturer
and Alistair Hodson
Tutorial Preparation & Participation
Term Test 1
Term Test 2
There is a general departmental requirement that students are required to average not less than 45% in the invigilated assessments in order to pass the course as a whole. ‘Invigilated’ means ‘formally supervised under exam conditions’. In ACCT 103, Term Test 1, Term Test 2 and the Final Examination are invigilated assessments.
Examination and Formal Tests
Principles of financial accounting;
John Wiley & Sons Australia, 2010.
Institute of Chartered Accountants of New Zealand. , New Zealand Institute of Chartered Accountants;
Applicable financial reporting standards : New Zealand equivalents to international financial reporting standards;
Institute of Chartered Accountants of New Zealand.
You do NOT need to purchase this text for ACCT 103. However, you will need to be familiar with some of the standards in this text, particularly if you intend to major in accounting.
For general information on University and Departmental policy on assessment, academic honesty and other course related matters please check the ACIS website, Learn, or the University Calendar.
For further information see
Department of Accounting and Information Systems on the department and colleges page.
All ACCT103 Occurrences