Unit Outline 2011 Faculty of Business & Government. Unit Title: Accounting Systems & Practices Unit Number: 6360

Transcription

1 Unit Outline 2011 Faculty of Business & Government Unit Title: Accounting Systems & Practices Unit Number: 6360 Page 1 of 8

2 This Unit Outline must be read in conjunction with: a) UC Student Guide to Policies, which sets out University-wide policies and procedures, including information on matters such as plagiarism, grade descriptors, moderation, feedback and deferred exams, and is available at (scroll to bottom of page) b) UC Guide to Student Services, and is available at (scroll to bottom of page) c) Any additional information specified in section 6h. 1: General Information 1a Unit title: Accounting Systems & Practices 1b Unit number: c Teaching period and year offered: S d Credit point value: 3 1e Unit level: 2 1f Name of Unit Convener and contact details (including telephone and ) Name Hai Wei Fan Office Room 6C8 Mailbox Box No 57 Building 6 Level B Reception Phone haiwei.fan@canberra.edu.au 1g Administrative contact details (including name, location, telephone and ) The faculty office is located in 6C3 for faculty related administrative enquiries. The Student Centre is located at 1B150 (off the concourse) for general enquires relating to admissions, unit enrolment, fees, exams and timetabling issues. Page 2 of 8

3 2: Academic Content 2a Unit description and learning outcomes Accounting Systems and Practices is the foundation subject in the accounting major. It deals with the accounting cycle and the concepts, principles and practices for measuring, recording and reporting financial events. Principles of risk management and internal control are also considered, as well as the benefits and limitations of accounting and spreadsheet software for transaction processing and decision support. On successful completion of this subject students will be able to 1. describe and document the components of the accounting cycle; 2. demonstrate a sound understanding of the basic accounting process; 3. measure a range of financial events, record transactions and prepare financial reports using both manual and computer-based systems; 4. identify and manage related risks and critically evaluate systems of internal control; and 5. build simple financial models to support management decision-making. 2b Generic skills On successful completion of this subject students will be able to enhance generic skills in: 1. group work; 2. problem solving; and 3. information literacy and numeracy. 2c Prerequisites and/or co-requisites Prerequisite: 5617 Accounting for Managers 3: Delivery of Unit and Timetable 3a Delivery mode Delivery is in traditional mode that is on-campus in standard semesters with weekly lectures and tutorials. In addition one session will be conducted in the computer laboratory. Page 3 of 8

4 3b Timetable of activities, such as lectures/ tutorials/ practicals/ field classes, showing key dates and topics (Information might be provided in the form of a table) Week beginning 1 15 Aug Lecture topics s in textbook Addresses learning outcome(s) Homework and Tutorial questions (do P first, then do DQ & Ex if time is allowed in tutorials) Recording transactions 3 1, 2 No tutorial Computer lab 2 22 Aug Adjusting accounts 4 1, 2 3 DQ 1, 4, 5, 8 Ex 3.2, 3.5, 3.7 P3.2, P3.14 (A only) 3 29 Aug Completing the accounting cycle 5 1, 2, 3 4 DQ 2, 4, 12 Ex 4.5, 4.8, 4.9 P4.7 (A only), P Sept Accounting for retailing 6 3, 4, 5 5 DQ 2, 7, 10 Ex 5.1, 5.5, 5.9 P5.6 (B only), P Aept Accounting systems 7 3, 4 6 DQ 5, 6, 7, 13 Ex6.3, 6.5 P6.6, Sept Cash management, control, debtors DQ 3, 14 P7.5, Sept Review test 26 Sept in lecture 5 No tutorial lab 8 3 Oct No classes period 9 10 Oct No lecture Public Holiday 11 DQ 3, 6 Ex 11.6 P Oct Inventory, non current assets (acquisition, depreciation) , 4 12 DQ 1, 5 Ex 12.3, 12.4, 12.7 P12.7 (part A & B); Oct Non current assets (revaluation, disposal) 15 3, 4, 5 Assignment due 23:55pm, 24 Oct P13.1, 13.7; E14.5; P Oct Liabilities 16 3, 4 15 DQ 2, 4, 10 E15.1, 15.2; P15.4, Nov Cash flow statements 18 3, 5 16 DQ 3, 6 Ex 16.1 P16.1, 16.2, Nov Exam information 18 DQ 8, 9 E18.1,18.4, 18.14, P18.1 Page 4 of 8

5 4: Unit Resources 4a Lists of required texts/readings 1. Hoggett, Edwards, Medlin and Tilling (2009), Financial Accounting 7 th Edition. John Wiley and Sons. 2. Marian Brown (2011), Getgreen Garden Centre An Accounting Practice Set using MYOB AccountRight v19, Pearson Education Australia Available from the bookshop on campus. There are many introductory accounting textbooks available in the library if you want to do additional reading. However, when using other references please ensure they are current. Accounting rules and standards do change from time to time and they also vary from country to country. 4b Materials and equipment Non-programmable calculator 4c Unit website This unit has a Moodle site and is a requirement for students enrolled in this unit. You will need to access lecture notes, assignment details etc from this site. Page 5 of 8

6 5: Assessment 5a Assessment overview Assessment item (including exams held in the exam period) Review test Due date of assessments Weighting (total to equal 100%) Addresses learning outcome(s) In lecture 26 Sept. 20% 1, 2, 3 2, Assignment 23:55pm 24 Oct. 20% 1, 2, 3 1, 2, Final Exam In the exam period 60% 1, 2, 3, 4, 5 2, 3 to be advised by UC Total 100% Addresses generic skill(s) 5b Details of each assessment item Review test The Review Test covers material in 3, 4, 5 and 6 and will commence at the beginning of the week 7 lecture session. It will run for a maximum of 1 hour and be multiple-choice format. Students are only allowed to bring writing implements, such as pens and pencils, nonprogrammable calculators and erasers to the test. Assignment The assignment requires students to complete the Getgreen Garden Centre practice set using MYOB. Please note that Part A is opening the sample file and working through all the exercises to learn how MYOB works. It is important that students do this, otherwise you will have too many problems with the assignment. However you are not required to submit the file for Part A. You should submit your.myo file (including Part B, C, D, and E) into the assignment dropbox, Getgreen Garden Centre Assignment, on your Moodle with the file name containing your student ID number (eg u123456u myo). Printouts are not required to be handed in. Please do not submit.zip file. You may do the MYOB assignment either solely or in a group with a maximum of 4 students. If doing it in a group, only one group member should submit the file with the name including all members usercode (see above) onto his/her Moodle. All group members will get the same mark unless there is evidence that a team member did not contribute fairly. The assignment will be marked based on the accuracy of the financial statements. Late Assignments Penalties may apply for late assignments. Ten per cent (10%) of the total marks for each day the assignment is late if penalties are applied. Students will not be able to ask for a deferred deadline on the assignment because their computer blew up or crashed, or was attacked by a virus etc. You must make multiple backups of your work in progress. Final exam Page 6 of 8

7 The final examination will be held during the examinations period at the end of the semester. The time and location of the exam will be posted to the UC website. The final examination will comprise a three-hour paper. More details about the exam structure would be provided in the last session. Students will be allowed to bring the following materials to the final exam: 1. one side of A4 paper with notes; 2. a non-programmable calculator; and 3. un-annotated non-electronic language dictionaries (English/Foreign). Students will not be able to ask for deferred final exams due to travel plans, work commitments or holiday plans. 5c Special assessment requirements Students who submit all pieces of assessment and achieve an overall mark of 50% and 40% in the final exam will pass the unit. Students who are unable to submit a piece of assessment due to medical or other special reasons will have the marks for the piece of assessment transferred to the final exam. 5d Supplementary assessment Supplementary assessment will be offered only in those cases covered by University policies. See paragraph 6.7 of the Guide to Policies and Procedures for further information. 5e Academic Integrity Students have a responsibility to uphold University standards on ethical scholarship. Good scholarship involves building on the work of others and use of others work must be acknowledged with proper attribution made. Cheating, plagiarism, and falsification of data are dishonest practices which contravene academic values. 5f Text-matching software To ensure academic honesty, text-matching software may be used in this unit. 6: Student Responsibility 6a Workload The amount of time you will need to spend on study in this unit will depend on a number of factors including your prior knowledge, learning skill level and learning style. Nevertheless, in planning your time commitments you should note that for a 3cp unit the total notional workload over the semester or term is assumed to be 150 hours. These hours include time spent in classes. The total workload for units of different credit point value should vary proportionally. For example, for a 6cp unit the total notional workload over a semester or term is assumed to be 300 hours. 6b Special needs Students who need assistance in undertaking the unit because of disability or other circumstances should inform their Unit Convener or UC AccessAbility (formerly the Disabilities Office) as soon as possible so the necessary arrangements can be made. 6c Participation requirements Page 7 of 8

8 It is expected that the student will attend all lectures, tutorials and labs. The subject is designed on the basis of a face-to-face delivery. Students who do not attend regularly will be disadvantaged in terms of learning and feedback. Based on previous results, those students who fail the unit tend to be those students who do not attend classes regularly. There are no marks awarded for attendance. 6d Withdrawal If you are planning to withdraw please discuss with your unit convener. Please see this link for further information on deadlines. 6e Required IT skills It is expected that the student is able to navigate at a basic level around software such as Word, Excel, PowerPoint and the internet. 6f Costs Expected costs in this subject will include textbooks, computer disks, calculator and writing materials. There will be minor internet usage which is unlikely to exceed your university internet download allocation. 6g 6h Work Integrated Learning Nil Additional information Nil 7: Student Feedback All students enrolled in this unit will have an opportunity to provide anonymous feedback on the unit at the end of the Semester via the Unit Satisfaction Survey (USS) which will be presented to you on OSIS. Your lecturer or tutor may also invite you to provide more detailed feedback on their teaching through an anonymous questionnaire. 8: Authority of this Unit Outline Any change to the information contained in Section 2 (Academic content), and Section 5 (Assessment) of this document, will only be made by the Unit Convener if the written agreement of Head of Discipline and a majority of students has been obtained; and if written advice of the change is then provided on the unit site in the learning management system. If this is not possible, written advice of the change must be forwarded to each student enrolled in the unit at their registered term address. Any individual student who believes him/herself to be disadvantaged by a change is encouraged to discuss the matter with the Unit Convener. Page 8 of 8