Revision notes.

Try this with Accounting and Finance

1. Close your notes and write the main idea in two sentences from memory.
2. Reopen the source and correct the first mistake or omission you find.
3. Add one example and one question to test whether you can apply the idea.

View Accounting and Finance resources on ATARMAXXING ↗

Topics in the resource inventory

• Short- and long-term finance products and asset-management principles
• Management vs financial accounting, internal vs external reporting and the role of the accountant
• Cost concepts and classifications: behaviour, cost object, product/period, past/future
• Job order costing: direct costs, predetermined overhead rates, unit cost and quotation price
• Standard costing and variance analysis: materials price/usage, labour rate/efficiency
• CVP for single and multi-product firms: contribution, break-even, margin of safety, target profit
• CVP decisions: make or buy, closing a segment, special orders, sensitivity and capacity
• Master budget, debtors' and creditors' schedules and the cash budget
• Budgeted income statements, cash vs accrual, performance reports and business planning
• Capital investment decisions: time value of money, net cash flows, NPV and payback
• Internal audit and control, insolvency, climate-related risks and ethical issues
• Company characteristics and the Corporations Act 2001
• Regulators (ASIC, IASB, ISSB, AASB, ASX), accounting standards and external audit
• The Conceptual Framework: reporting entity, qualitative characteristics, recognition criteria
• Company equity transactions: share issues, issue costs, bonus issues, dividends, retained earnings
• Balance day adjustments, income tax and the statement of comprehensive income
• Statement of financial position, statement of changes in equity and notes to the accounts
• Statement of cash flows (AASB 107, direct method) and interpreting cash movements
• Ratio preparation and interpretation and the limits of financial statement analysis
• AASB S2 climate-related disclosures and sustainability reporting: greenwashing and bluewashing