BB104 - Introductory Accounting

Credit Points: 15 credit points

Workload: 36 hours

Prerequisite: N/A

Co-requisite: N/A

Aims & Objectives

This is a first year Core Unit in the Bachelor of Business, major in Accounting Bachelor of Business Marketing, and Bachelor of Business Management. For Course Learning Outcomes and further information relating to Bachelor of Business programs please visit our website:
This is an introductory accounting unit that focuses on the use of accounting information in making business decisions. The unit presupposes no prior knowledge of accounting and adopts the perspective of the user of financial statements to develop an understanding of the important financial reporting topics that all students of the Bachelor of Business program should attain. The unit provides students with fundamental accounting knowledge and skills which will provide a foundation for more advanced accounting studies. This unit is designed to introduce students to the nature and function of accounting, provide an understanding of basic accounting processes and develop skills in using accounting information for business decision making. 
Unit topics include:

  • Introduction to accounting and business decision making
  • Business structures
  • Business transactions
  • Processing accounting information
  • Statement of profit or loss and statement of changes in equity
  • Statement of Financial Position
  • Statement of cash flows
  • Analysis and interpretation of financial statements
  • Accounting information for business decisions 

Learning Outcomes

The Course learning outcomes applicable to this unit are listed on the Melbourne Institute of Technology’s website:
At the completion of this unit students should be able to:
a. Understand the foundations of accounting practice and explore the interrelationship of theory and practice in accounting.
b. Prepare statements that recognise, measure, record and report accounting events.
c. Analyse accounting reports.
d. Use accounting information in a variety of business decision making contexts.
e. Develop an ethical perspective on the use of accounting information.


Assessment Task Due Date A B Unit Learning Outcomes
1.Formative Assessment Week 3 - 5% a
2.Contribution and Participation Weeks 1-12 - 5% a-e
3.Online Test Week 7 - 20% a,b
4.Assignment [Group] Week 10 20% - c,d,e
5.Case Study Analysis [Individual] (3 hours) TBA - 50% a-e
TOTALS   20% 80%  

Task Type: Type A: unsupervised, Type B: supervised.

Contribution and Participation (5%)

This unit has class participation as an assessment. The assessment task and marking rubric will follow the Guidelines on Assessing Class Participation ( Further details will be provided in the assessment specification on the type of assessment tasks and the marking rubrics.

Teaching Methods

NOTE: All School of Business units 3-hour workshops Flipped Classroom Mode. 

Textbook and Reference Materials

Note: Students are required to purchase the prescribed text book and have it available each week in class.

Prescribed Text Book

  • Birt, J., Chalmers, K., Brooks, A., & Oliver, J., (2020). Accounting: Business Reporting for Decision Making, 7th edition. Australia: Wiley.

Other recommended references

  • Nobles, T., Mattison, B., Matsumura, E., Best, P., Fraser, D., Tan, R., & Willett, R., (2016). Financial Accounting, 8th edition. Australia: Pearson.
  • Porter, G. A., & Norton, C.L. (2016). Financial Accounting: The Impact on Decision Makers, 10th edition. US: Cengage Learning.
  • Trotman,K., Carson, E., & Morgan,K., (2019). Financial Accounting: An Integrated Approach, 7th edition. Australia: Cengage Learning.
  • McLaney, E., & Atrill, P. (2018). Accounting and Finance: An Introduction, 9th Edition. United Kingdom: Pearson.


  • Racko, G. (2019). Does Economic Rationalization Decrease or Increase Accounting Professionals’ Occupational Values?. Journal of Business Ethics, 158(3), 763-777.
  • Braam, G., & Peeters, R. (2018). Corporate sustainability performance and assurance on sustainability reports: Diffusion of accounting practices in the realm of sustainable development. Corporate Social Responsibility and Environmental Management, 25(2), 164-181.
  • Drake, M. S., Roulstone, D. T., & Thornock, J. R. (2016). The usefulness of historical accounting reports. Journal of Accounting and Economics, 61(2-3), 448-464. 

The Referencing style for this using is APA: See the MIT Library Referencing webpage: and the Unit Moodle page for additional referencing support material and weblinks.

Graduate Attributes

MIT is committed to ensure the course is current, practical and relevant so that graduates are “work ready” and equipped for life-long learning. In order to accomplish this, the MIT Graduate Attributes identify the required knowledge, skills and attributes that prepare students for the industry.
The level to which Graduate Attributes covered in this unit are as follows:

Ability to communicate Independent and Lifelong Learning Ethics Analytical and Problem Solving Cultural and Global Awareness Team work Specialist knowledge of a field of study


Levels of attainment Extent covered
The attribute is covered by theory and practice, and addressed by assessed activities in which the students always play an active role, e.g. workshops, lab submissions, assignments, demonstrations, tests, examinations.
The attribute is covered by theory or practice, and addressed by assessed activities in which the students mostly play an active role, e.g. discussions, reading, intepreting documents, tests, examinations.
The attribute is discussed in theory or practice; it is addressed by assessed activities in which the students may play an active role, e.g. lectures and discussions, reading, interpretation, workshops, presentations.
The attribute is presented as a side issue in theory or practice; it is not specifically assessed, but it is addressed by activities such as lectures or tutorials.
The attribute is not considered, there is no theory or practice or activities associated with this attribute.