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22910 Accounting for New Ventures

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2018 is available in the Archives.

UTS: Business
Credit points: 3 cp

Subject level:


Result type: Grade and marks

There are course requisites for this subject. See access conditions.


This subject, partially delivered online, develops accounting knowledge and skills for entrepreneurs. The topics covered provide a basic understanding of accounting concepts and help plan and deliver accounting related aspects for early ventures and small businesses. Students learn how to read and interpret accounting and financial statements, analyse financial performance, develop budgets and manage cash flows.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. Apply the accounting tools used in internal value measurement, planning and control, including forecasting, budgeting, costs, risks and pricing methodologies
2. Apply the accounting tools used in external value measurement, including competition, returns and valuation methodologies
3. Assess and develop early stage enterprise and innovation initiatives.

Contribution to the development of graduate attributes

This subject is designed to provide students with accounting knowledge relevant to early stage enterprises and inovation initiatives. It provides students with accounting skills to assess financial performance using ratios and trends, develop cash flow and budget forecasts and prepare sales and revenue forecasts.

This subject contributes to the development of the following graduate attributes:

  • Business knowledge and concepts

This subject also contributes specifically to develop the following Program Learning Objectives for the Master of Business Administration in Entrepreneurship:

  • Use relevant data and analytical tools fo business valuation purposes (1.2)

Teaching and learning strategies

The subject is offered in a blended learning mode with two face to face class room meetings at the beginning and end of the session and weekly online interaction inbetween. Delivery of teaching and learning materials, quizzes, lectures, webinars and discussions are facilitated using online learning and communication tools and the UTS learning management system. The face to face classes help students understand the study and learning requirements and to reflect upon and revise the content.

Content (topics)

  • Financial statements
  • Financial performance
  • Cash flow management
  • Budgets
  • Forcasting revenue
  • Costs and cash flow analysis


Assessment task 1: Report (individual)


This addresses subject learning objective(s):

1, 2 and 3

Weight: 50%

No more than 3,000 words, single spaced, Times New Roman font (not including bibliography/references)

Assessment task 2: Case Study (Individual)


This addresses subject learning objective(s):

1, 2 and 3

Weight: 50%

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Recommended texts

Gibbons, G, Hisrich, RD and DaSilva, CM, 2015, Entrepreneurial Finance, Sage


  • Tyler, J., Godwin,N. and Alderman, C., ACCT Financial: Asia Pacific Edition1st Edition, Cengage, 2013
  • Sivabalan, P., Sawyers, R., Jackson, S. and Jenkins, G., ACCT Managerial: Asia Pacific Edition, 1st Edition, Cengage, 2013
  • Horngren, C., Harrison, W., Oliver, S., Best, P., Fraser, D., Tan, R., Willett, R. (2012) Accounting 7(e), Pearson Australia.
  • Carlon, S., McAlpine-Mladenovic, R., Palm, C., Mitrione, L., Kirk, N., Wong, (2016) Financial Accounting, Reporting, Analysis and Decision Making (5th edition), Wiley. Guide to Writing Assignments, UTS Business School, University of Technology, Sydney

Other resources

Students are required to use online collaboration software including UTSOnline: