Description

Accounting is the process of recording, reporting, analysing and interpreting financial data and accounting information which can be communicated to a variety of users. It plays an integral role in the successful operation and management of any business. In this unit students will focus on the financial accounting and financial issues for single activity service and trading businesses, using double entry recording, with financial reports prepared under the accrual basis. Students will use financial and non-financial information to assist management in the decision making process. Accounting information from financial reports will be analysed and interpreted. Students will study both theoretical and practical aspects of accounting and where appropriate the unit will incorporate the application of accounting principles and the qualitative characteristics of accounting information. This is a core unit in the Monash College Diploma of Business, Part 1.

Prerequisites

Nil

Learning Outcomes

When you have completed this unit, you are expected to be able to:

1. Define accounting elements and explain some of generally accepted
    accounting principles and qualitative characteristics of financial information
2. Using double entry rules, to record accounting transactions for both a service
    business and a trading business in the general journal and post to general
    ledger
3. Prepare the adjusting entries at the end of the accounting period (accruals,
    prepayments, depreciation and inventory loss)
4. Record closing entries for temporary accounts
5. Prepare classified financial statements - income statement, cash flow
    statement and the balance sheet
6. Analyze and interpret financial information using profitability, liquidity and
    solvency ratios
7. Prepare budgeted financial statements and complete cash variance reports

Description

This introductory unit is designed to provide students with an overview of the basic concepts and theories in management and a foundation for further management studies. Students are expected to develop independent learning skills required for university study and professional life.

Prerequisites

Nil

Learning Outcomes
1. Develop a working definition of management within organisations and explain
    the process, skills, roles and different levels of management.
2. Explain the principles of scientific management, administrative theory, human
    relations management and contingency management.
3. Describe the effects of the external environment, both general and specific on
    the organisation.
4. Describe how planning, organising, leading and controlling can be managed
    in organisations.
5. Describe the importance of organisational structure for achieving the
    organisation’s goals.
6. Demonstrate an understanding of the importance of motivation, individual,
    group and team work and their impact on organisational performance and
    outcomes.
7. Demonstrate an understanding of the importance of leadership for achieving
    the organisation’s goals.
8. You are expected to develop skills in the following areas:
9. Metacognitive skills include: recognising problems, solving problems,
    collaborative learning and reflecting on the problem-solving process.
10.Cognitive skill includes: knowledge, evaluation, comprehension, application,
     analysis and synthesis.
11.Applied reading skills includes: essay structure, paraphrasing, direct quoting,
     paragraph structure, using topic sentences, explanations and examples,
     sentence variation, paragraph organisation, coherence and referencing.

Description

The intention of this unit is to promote students’ awareness of the importance of mathematics/statistics in everyday life and to build up confidence in making effective use of mathematical/statistical ideas, techniques and processes. This unit aims to provide students with the knowledge and skills to make effective use of methods of analysing quantitative data by the use of graphical and numerical methods, interpretation of results and making decisions in both business and everyday life.

Prerequisites

Nil

Learning Outcomes

On completion of this unit, students should be able to:

1. Arrange data into pictorial and tabular formats for presentation and
    interpretation purposes.
2. Calculate, compare and interpret the three measures of central tendency -
    mean, median and mode - for both ungrouped and grouped data.
3. Calculate, compare and interpret range, interquartile range, standard
    deviation and co-efficient of variation - for both ungrouped and grouped data.
4. Understand the elementary axioms, interpretation and properties of
    probability, conditional probability and independence, apply probability tree in
    probability computation, draw Venn diagrams.
5. Draw XY-scatter plot, assess the strength of linear relationship visually,
    calculate and interpret Pearson product-moment correlation coefficient.
6. Understand the meaning of the least square regression line, calculate the
    least squares regression line equation, interpret the slope and intercept, use
    the least square regression line for estimation, assess validity of estimates.
7. Understand goodness of fit, computation and interpretation of coefficient of
    determination, and draw the least squares regression line into an XY-scatter
    plot.
8. Perform other forms of nonlinear regression and transformations into linear
    form by one of the axes scales using a square or reciprocal transformation.
9. Apply basic residual analysis with residual plots such as: residuals on the
    vertical axis versus on the horizontal axis, residuals on the vertical axis
    versus on the horizontal axis, on the vertical axis versus on the horizontal
    axis.
10.Recognise the four components of time series such as trend, seasonal,
     cyclical and random by a visual inspection of time series plot. Compute and
     apply seasonal indices, perform seasonal adjustments. Apply smoothing with
     moving averages with or without centring. Modelling the linear trend with
     linear regression.

Description

The purpose of this unit is to identify and explain the basic concepts of GDP, business cycles, inflation, unemployment, supply, demand and markets, thereby acquainting students with the basic vocabulary of economics. The roles played by the government, consumers, producers the cost of production will be explained. A particular emphasis in this unit is to provide students with an introduction of basic issues of both introductory Micro and Macroeconomics.

Prerequisites

Nil

Learning Outcomes

Upon successful completion of this unit, students will be able to:

1. Define Economics and understand the economic problem of scarcity
2. Understand and apply the theory of the macro economy, with emphasis on
    GDP, inflation and unemployment
3. Understand the concepts of demand and supply and the application of this
    theory
4. Explain the concepts of costs and revenues in the case of a single firm

Description

Introduction to Marketing is designed to introduce students to key marketing concepts through a case-based learning structure in a collaborative learning environment. Students will be introduced to cases on a weekly basis, which they will examine in context to the week’s topic. Students will develop an understanding of marketing’s role within an organization. Within this unit students can expect to learn effectively and efficiently within a collaborative learning environment. Students are expected to complete weekly assessed tasks before the start of the week. The unit is also designed to reward students for this active participation in their learning. So attendance and participation is important in achieving high results. The unit will be delivered through a blended learning module. All lesson material and subject communication will be delivered through Moodle. Having uninterrupted access to Moodle is important. Students are expected to bring their devices regularly to class for both the workshop and tutorials.

This is a core unit in the Monash College Diploma of Business, Part 1.

Prerequisites

Nil

Learning Outcomes

When you have completed this unit, you are expected to:

1. Be able to define marketing and outline the concepts of needs, wants and
    demands
2. Understand the importance of the elements of the marketing organization’s
    environment
3. Appreciate the concept of value
4. Be able to explain the process of marketing research and discuss its
    importance to marketing decision making
5. Have developed an understanding of consumer buying behavior
6. Have acquired an understanding of market segmentation and targeting
7. Be able to describe the elements of the marketing mix
    a) Understand the product (distinguish between goods and services)
    b) Be able to describe the role of price
    c) Be able to outline the purpose of marketing communication and the
        elements of the promotions mix
    d) Be able to explain the distribution concept

Description

The aim of this unit is to provide a basic knowledge of the Australian legal system, an understanding of principles of contract law including an introduction to the law of Negligence. Students are introduced to IRAC as a practical legal reasoning process to solving legal problems.

Prerequisites

Nil

Learning Outcomes

At the completion of this unit students will be able to:

1. Describe the components of the Australian legal system.
2. Explain the Jurisdiction of Australian courts
3. Apply rules of Common Law to legal problems
4. Demonstrate an understanding of the law of negligence.
5. Demonstrate an understanding of the law of contract
6. Apply relevant rules to contractual problems arising in formation, terms,
    validity and breach
7. Demonstrate an understanding of remedies in both contract and tort law
8. Apply relevant tests of law to determine validity of exclusion and limitation
    clauses.
9. Apply legal reasoning process to solving legal problems using IRAC

Description

This unit aims to assist you in developing strategies for effectively communicating and negotiating with individuals from other cultures. Businesses today operate in a culturally diverse environment. This unit has been designed to develop your understanding of culture and its impact on business. We will examine the impact of culture on values, norms, attitudes and behaviours, including patterns of communication. In this unit, you will learn effective ways to research cultures and communication styles in order to prepare for intercultural encounters as a student and in work. This unit will provide an opportunity to apply understanding of cultural and ethical issues to realistic business situations. This is a core unit in the Monash College Diploma of Business, Part 1.

Prerequisites

Nil

Learning Outcomes
1. Demonstrate understanding of culture, communication and the issues
    involved in intercultural communication.
2. Apply intercultural communication skills and understanding of cultural issues
    involved in dealing with individuals from diverse cultures.
3. Define, describe and analyse the cultural values, norms, attitudes and
    behaviours that influence and impact on you and business in a globalised
    world.
4. Explore your cultural identity and your view of the multicultural world.
5. Understand the important relationship between language and culture.
6. Improve your own level of cultural intelligence.
7. Understand negotiation and explain the impact of culture on negotiation
8. Conduct independent research related to intercultural theories and
    intercultural business.
9. Understand the need to think critically and assess the credibility of sources
    when conducting academic and business research.
10.Learn in collaboration with others, by sharing ideas and tasks.
11.Demonstrate ability to plan, prepare and present ideas in a manner
     appropriate to the academic and business worlds.

Description

The aim of this unit is to provide students with the knowledge and skills to make effective use of mathematical ideas, techniques and processes in both business and everyday life.

Prerequisites

It is recommended that students have studied year 11 (or equivalent) mathematics.

Learning Outcomes

On completion of this unit, students should be able to:

1. Demonstrate knowledge of key features of straight line and line segment
    graphs and the form of related tables of values.
2. Demonstrate knowledge of the concept of breakeven analysis and its relation
    to graphic and tabular representation of relations.
3. Demonstrate knowledge of non-linear relations in terms of a constant of
    proportionality and key features.
4. Demonstrate knowledge of linear inequalities, systems of linear inequalities
    and their properties.
5. Demonstrate knowledge of terms, concepts and definitions associated with
    sequences and recurrence relations, simple interest, compound interest,
    growth and decay in financial contexts, depreciation methods, annuities and
    reducing balance loans, and formulas and calculations associated with these.
6. Demonstrate knowledge of matrix properties. Solve data array problems and
    simultaneous linear equations in two variables using matrix formulations.

Description

This is a core unit in the Monash College Diploma Part 1 of Engineering, Information Technology and Science. The unit will provide students with the pre-requisite knowledge and skills to progress to the higher levels of mathematics in Engineering, IT and Science diploma; subsequently in the relevant degree programs.

Prerequisites

MCD1700 Introductory Mathematics

Learning Outcomes

On completion of this unit, students should be able to:

1. Apply the concept of vectors in Cartesian form in analytical geometry.
2. Find and apply position vector, magnitude of vector, unit vector, angles
    between vectors and direction cosines in two and three-dimensional
    problems.
3. Describe linear dependency and independency in vectors.
4. Find scalar and vector resolute, scalar product of vectors, application of scalar
    product.
5. Use Pythagorean identities Use Pythagorean identities sin² Ɵ + cos² Ɵ = 1;
    tan² Ɵ + 1 = sec² Ɵ; 1 + cot² Ɵ = c sc² Ɵ in problem solving.
6. Apply compound-angle identities in various geometric and analytical
    geometric applications.
7. Find general solutions of simple and complicated trigonometric equations.
8. Apply limits, continuity and differentiation to solve mathematical problems.
9. Identify and analyse the nature of critical point using derivative tests.
10.Apply the differentiation to solve the problems in various context of
     engineering and other disciplines.
11.Extend the concept of derivatives by inverse circular functions.
12.Perform anti-differentiation calculations using integration by substitution,
     integration by partial fractions.