Accounting Major Overview (1 Viewer)

[jase_]

I'll give a brief overview of each of the subjects in the Accounting major, based on my experiences. This information is based on 2004-2005 classes and so could change in the future.

If anyone else wants to contribute information then feel free to do so. The Accounting major handbook entry is available here: http://www.handbook.uts.edu.au/directory/maj08437.html

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FINANCIAL ACCOUNTING

22320 Accounting for Business Combinations
- This subject includes 1 lecture (1 hour) and 1 tutorial (2 hours) to give you a total of 3 hours a week.
- This subject deals with financial accounting that companies face in relation to dealing with more than one entity. It involves learning about consolidations of parent and subsidiary companies (journal entries and financial statements), associates and joint ventures.
- The subject is mainly practical based with a heavy emphasis on journal entries and numbers. The assessments are mainly either mid-semester exams or in-class tests and a final exam. A good understanding of the material from each week is required as the topics flow on from one week to the other.
- This subject used to be the hardest subject in the Accounting major and any past Accounting student will vouch for that. However, a recent overhaul of the subject has made it easier and any 2005+ student will tell you that the subject is not so difficult anymore.

22420 Accounting Standards and Regulations
- This subject includes 1 lecture (2 hours) and 1 tutorial (1 hour) to give you a total of 3 hours a week.
- This subject deals with the accounting framework and the accounting standards that govern accounting procedures in Australia. You will learn about many different standards that govern different parts of a company's accounting system, such as income, assets, liabilities, expenses, tax, etc, all of which have standards which govern how they are recorded in the financial statements.
- The subject is mainly theory based with a heavy emphasis on reading and understand the accounting standards. There are some practical exercises in the tutorial work and also in the final exam. The assessments are mainly essay based and a final exam as well.
- This subject requires a fair amount of reading, though the material isn't too difficult to grasp.

 

[an1tzz]

hey, generally speaking, what is the general UAI cutoff for bachelor of business(accounting) at UTS?

 

[blOwfish]

90

 

[angles_eyes696]

what about company and taxation law, what are they like? Are they considered to be hard.

Thanks

 

[jase_]

Company Law is (I believe) a fairly dry subject and can be kinda boring. If you take down enough notes, then the subject isn't too hard and I found the exam and assignments to be fairly straight forward. Taxation Law, I thought was more interesting, however I found the exams to be a bit harder, even if it was MCQ and my tutor kinda marked hard on the presentations and stuff. I got a D for Company Law and a P for Taxation Law, incase you wanted to know.

 

[Dingo2004]

i failed CMS..==>> Cost Management Systems..

its too hard...

i think its now the hardest subject in the accounting major.. replacing ABC which used to be the hardest..
i know people who also failed CMS, but passed ABC.. so there you go ^_^

hence i decided to drop my accounting major.. and just put the subjects that ive started in the major into electives and finish off with a IT sub major.. =))

coz after all the effort put into this subject and STILL failing.. i believe i wont ever pass no matter how many times i try.. hence pulling me back from graduating..

 

[Wildberries]

I just scraped a pass in CMS it was pure bullshit... that subject gave me a run for my money lol

 

[Wildberries]

Lots of peole will take away something from ABC, but my only tip is to MEMORISE how you get "the numbers" for each transaction (people who have done it post-2005 know what i'm talking about). Enjoyment of this subject may vary fom person to person. The exam was 75/100=journal entries and 25/100=MCQ. I think i've got a good memory which helped a lot with studying this subject.

 

[Wildberries]

Can anyone give a review of "Assuance services and Audit" and "Issues in financial statement analysis"?? doing these in sem 1, just keen to know what's in them

 

[honsaw]

How hard is the Bachelor of Business first year subjects ? I've done my Accounting Diploma at tafe
and i'm kinda worried as the exams in tafe are mostly practical not like writting essays and such..

 

[iRuler]

Accounting first year, lets see, there are 2 subjects, Accounting A is basically getting through the financial aspects, Accounting B is more the management aspects, both hardly have essays (Accounting B does, not much though, most of both exams are practical).

Other subjects are relatively easy too