FN311 Agriculture Accounting and Business Law
DESCRIPTION
This unit develops knowledge and skills in students to be able to apply agriculture accounting concepts to agribusiness. The importance of business law is discussed within the context of the legal considerations under which businesses operate.
RELEVANT COURSES
*Core unit
Elective unit
CREDIT POINTS
10
DELIVERY MODE
On campus
Online
PREREQUISITE OR CO-REQUISITE
AC101 Accounting I
BM101 Introduction to Agribusiness Production and Management
UNIT LEARNING OUTCOMES
LO1 Evaluate financial accounting and its role in decision making, managing control systems and apply this to a rural enterprise
LO2 Critique the process of recording, classifying and summarising agribusiness transactions
LO3 Demonstrate an application of accounting procedure to prepare financial statements
LO4 Apply the concepts of the Law of Contract
LO5 Apply the concepts of Commercial Law
CONTENT
Conceptual Framework and Farm Financial Statements
Recording Business Transactions
Accrual Accounting
Accounting for assets including depreciation, intangible assets, asset revaluation, asset impairment, biological assets,
Farm Management
Internal Control, Cash, and Receivables
Financial Statement Analysis
The legal system (Alternative agribusiness structure)
Formation of contracts - offer and acceptance
Misrepresentation - mistake - duress and undue influence – illegality
Sale of goods - the passing of ownership
Agency
International Business Law
ASSESSMENT METHODS
1. Online Tests - 20%
2. Group Assignment - 30%
3. Exam - 50%
PRESCRIBED READINGS
Deegan, C. (2019). Australian financial accounting (9th Ed). Sydney: McGraw-Hill Education.
Gibson, A. and Osborne, S. (2022) Business law (11th edition) Melbourne: Pearson.
Miller-Nobles, T., Mattison, B. L., Matsumura, E. M., Best, P., Keene, D., & Tan, R. (2021). Financial accounting (9th ed). Melbourne: Pearson.
Check with the lecturer each semester before purchasing any textbooks