FPE014 Financial Accounting Principles

This subject introduces students to the basic framework and key principles of accounting. An introduction is also provided to Management Accounting and the analysis of the Financial Accounting statements. The unit aims to equip students with the ability to analyse and interpret financial data, and use their knowledge for projecting and assessing the performance of organisations and business units.

For Study Period 3 2022 onwards, please refer the subject outline here.

  • Learning outcomes
    • On successful completion of this subject, individuals should be able to:

      1. Analyse and classify accounting transactions drawing on the financial reporting framework and key accounting concepts.
      2. Prepare accounts with adjustments within the areas of cash, inventory, non-current assets, and accounts receivables.
      3. Prepare basic financial statements and reports.
      4. Assess a company’s performance based on the calculation of its financial ratios and other financial data.
      5.  Analyse the cost behaviour and its impact on businesses’ activities and their profitability.
  • Subject content
    • Topic Title
      Topic 1 Nature of accounting
      Topic 2 Statement of financial position
      Topic 3 Income statements
      Topic 4 Statement of cash flows
      Topic 5 Financial statement analysis 1
      Topic 6 Financial statement analysis 2
      Topic 7 Profit ratios
      Topic 8 Market efficiency ratios 1
      Topic 9 Market efficiency ratios 2
      Topic 10 Cost behaviour and analysis

  • CPD
    • Kaplan Professional has assessed this subject. Click here for the following CPD hours applicable from 1 January 2019 on successful completion of this course. For subjects or courses completed prior to this date, please contact Kaplan Professional’s CPD Support team on 1300 527 526 or pdmail@kaplan.edu.au.

  • Assessment
  • Prerequisites
    • There are no prerequisites for this subject. However,individuals should review the ‘Assumed Knowledge’ tab to understand the prior knowledge Kaplan advises they should hold before enrolling in this subject.

  • Assumed knowledge
    • Whilst there are no prerequisites for this subject, Kaplan assumes that individuals have completed FPC006 Tax and Commercial Law for Financial Planning or understand the content covered in this subject, prior to undertaking FPE014 Financial Accounting Principles.

  • Course transition subject equivalence
    • Individuals may not be required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan course and have completed the following subjects:

      • there are no equivalences for this subject.
  • Reading list
    • Hoggett, J, Medlin, J, Chalmers, K, Beattie, C, Hellmann, A & Maxfield, J 2017, Financial accounting, 10th edn, Wiley, Milton.