ACCTING 1002 - Introductory Accounting

North Terrace Campus - Semester 2 - 2020

The objective of the course is to provide an introductory knowledge of accounting to first-year students from a wide range of disciplines. While a general overview of accounting principles relating to the preparation of financial and managerial reports will be presented, the primary focus is to illuminate how accounting information is utilised by a variety of stakeholders in planning, controlling and investing decisions. Topics included: accounting information in its decision making context; record of accounting transactions; external financial reports; financial statement analysis; cost behaviour, determination of product costs, cost-volume-profit analysis; performance management; and budgeting.

Open All

Course Details

Course Code	ACCTING 1002
Course	Introductory Accounting
Coordinating Unit	Adelaide Business School
Term	Semester 2
Level	Undergraduate
Location/s	North Terrace Campus
Units	3
Contact	Up to 3 hours per week
Available for Study Abroad and Exchange	Y
Incompatible	ACCTING 1011
Quota	Quota applies for Semester 1
Assessment	Exam/assignments/tests/tutorial work as prescribed at first lecture

Course Staff

Course Coordinator: Dr Mahmud Al Masum

Course Timetable

The full timetable of all activities for this course can be accessed from .

Introductory Accounting I has a 2-hours lecture per week.

In addition the course also contains one weekly 1 hour tutorial per student. Tutorials begin in the second week of the semester and finish in the last week of lectures.

Course Learning Outcomes

Knowledge of accounting is a vital skill for everyone. Basic financial literacy is essential in managing one’s own private finances but is also extremely important in any organisation. Many people feel that because they are planning to pursue a career in something other than accounting, the study of that subject is not relevant to them. However, the great majority of decisions in any type of organisation (whether ‘for profit’ or ‘not-for-profit’) have financial implications. For example, someone in the Human Resources section of an organisation will need strong ‘people’ skills but will also have responsibility for the financial budget for the HR section (at a minimum, controlling the costs of that section).

This course is designed to provide students with an understanding of, and competency in, the language and process of accounting so that you can discuss intelligently the financial implications of your future decisions. The course will also emphasise the use of accounting in basic organisational decision making. The overall aims of this course include the following:

Provide a broad introduction to accounting.
Introduce the role of accounting and how accounting captures information about the economics of an entity.
Develop the skills to read and understand Financial Statements
Develop the skills to identify and record accounting transactions
Develop the skills to prepare basic financial statements including the Statement of Financial Position, Statement of Comprehensive Income, and Statement of Changes in Equity.
Enable students to understand the ‘story’ told by financial statements and the implications for the story when different choices are made.
Develop skills in financial statement analysis
Explore the use of accounting in internal decision making
Introduce management accounting concepts including cost behaviour, cost-volume-profit analysis, product costing, budgeting and performance management.
Develop skills in applying management accounting techniques to assist in decision making

On successful completion of this course, students will be able to:

1. Explain the key concepts that underpin the preparation of general purpose financial reports
2. Analyse and interpret financial statements
3. Evaluate the accounting information needs of management
4. Understand and apply key principles of budgeting
5. Apply various management accounting techniques to analyse decisions faced by management

最新糖心Vlog Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

最新糖心Vlog Graduate Attribute	Course Learning Outcome(s)
Deep discipline knowledge informed and infused by cutting edge research, scaffolded throughout their program of studies acquired from personal interaction with research active educators, from year 1 accredited or validated against national or international standards (for relevant programs)	All
Critical thinking and problem solving steeped in research methods and rigor based on empirical evidence and the scientific approach to knowledge development demonstrated through appropriate and relevant assessment	All
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	All
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	All
Intercultural and ethical competency adept at operating in other cultures comfortable with different nationalities and social contexts able to determine and contribute to desirable social outcomes demonstrated by study abroad or with an understanding of indigenous knowledges	All
Self-awareness and emotional intelligence a capacity for self-reflection and a willingness to engage in self-appraisal open to objective and constructive feedback from supervisors and peers able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate	All

Learning Resources

Required Resources

Textbook

The course uses the following two textbooks (bundled in a package):

Tyler, J, Godwin, N and Alderman, CW,
ACCT3 Financial,
3rd Asia-Pacific Edition, Cengage Learning, 最新糖心Vlog.

Sivabalan, P, Wakefield, J, Sawyers, R, Jackson, S and Jenkins, G,
ACCT3 Managerial,
3rd Asia-Pacific Edition, Cengage Learning, 最新糖心Vlog.

The Cengage publisher offers a 10% discount for the textbook. The discount code is: RADELAIDE10.

The print bundle is available for students to purchase at https://au.cengage.com/c/isbn/9780170287258

The books have an electronic version. The ACCT3 ePack is now available for purchase at https://au.cengage.com/c/isbn/9780170288149.
The discount code RADELAIDE10 can be used for this e-version as well.

Online Learning

This course makes substantial use of the MyUni website. Information that will be available through MyUni include:
· PowerPoint lecture slides
· MyMedia lecture recordings
· Readings
· Assignment information and feedback
· Messages for students
· Other facilities within MyUni will be activated from time-to-time as needed.

You must ensure that you check the MyUni site several times each week for any announcements or new information. It is your responsibility to remain informed about changes in the course and you will be deemed to know of any new information added to the MyUni site.
Learning & Teaching Activities

Learning & Teaching Modes

This course contains two main avenues for learning (apart from assessment). These are:

1. The lecture video modules will be vailable at MyUni couse homepage. Students should read the relevant section of the textbook to support and expand on the knowledge gained in the lecture modules.

2. There is a weekly 1 hour tutorial. The aims of the tutorials are threefold; to develop a conceptual understanding of key accounting principles, to review and refine the technical competencies required to perform accounting calculations, and to gain an insight into the implications flowing from accounting information including the financial statements.
During the Tutorials students are free to ask any questions or issues about the topic under consideration. The objective here is to provide a more personalised approach to any problems which students have.
It is expected that each student will actively involve him/herself in the discussion during each tutorial. In general, a good participant will, among other things:
· Take the initiative and lead the discussion on a question,
· Be prepared to control the level of their involvement so that other class members can participate equally in the discussion;
· Present their points in a structured manner with reference readings;
· Be prepared to accept and explore alternative viewpoints;
· Be willing to go beyond the suggested readings and resources and use their initiative to present other topical material as examples, e.g., recent newspaper articles;
· Speak clearly;
· Assist other members of the class with understanding the material;
· Be prepared to work cooperatively and productively in small groups;
· Be sensitive to the needs and feelings of other participants; and
· Be punctual.

It is not expected that you will always have the “right” answer and, indeed, it should be recognised and understood that valid alternative points of view might well exist on an issue. This does not mean that “anything will do” when trying to find a solution to controversial topics – rather a “good” answer will be one that is grounded in, among other things, references to relevant and valid accounting concepts.

Preparation prior to attending your workshop is vital to your successful completion of this course and if you have not prepared beforehand you will have significant difficulties in understanding what is going on in the tutorial. Solutions generally will NOT be provided out for the tutorial activities. However, the teaching staff members are very happy to spend time assisting you with a question PROVIDED you have made a sincere written attempt beforehand. Ensure that you make good use of staff consultation times and the first year learning centre.

Workload

The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

The 最新糖心Vlog expects full-time students (i.e., those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that you are expected to commit approximately 9 hours of private study outside of your regular classes.

Students in this course are required to attend all lectures and Tutorials throughout the semester, tutorial preparation and participation will form part of the overall assessment as outlined in the assessment section below.

Learning Activities Summary

Topics

1.         Introduction to Accounting
2. Financial Statements
3. Recording of accounting transactions
4. Non-current assets
5.         Financial Statement Analysis
6. Introduction to management accounting
7.         Cost behaviour and allocation
8.         Cost-volume-profit analysis
9. Cost planning (budgets) and control (variance)
10.     Performance management (Balanced Scorecard)

The 最新糖心Vlog's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

The assessment tasks are:

Assessment Task	Weighting	Learning Outcome
Tutorial participation and engagement	10%
Group assignment	15%
Mid-semester test	25%
Final exam	50%
Total	100%

Assessment Related Requirements

To pass the course students must achieve 50% of the overall course assessment. In addition there is requirement to achieve at least 45% in the final exam. Students who achieve an overall course result of 50% or greater but achieve less than 45% in the final exam will be recorded with 49% and be awarded an additional assessment (ie an academic supplementary exam).
All assessment tasks are compulsory and none are redeemable.
Students are not permitted to submit or use assessment from any previous or other course towards the assessment in this course.
Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process. Marks may be deducted in the final examination because of poor hand-writing.
Students are permitted to take any calculator into any of the invigilated assessments, including the final exam.
The final exam is a closed book exam and no materials are permitted to be taken into the exam except for a calculator referred above.

Assessment Detail

Tutorial participation and engagement -- 10%
Students must only attend the tutorial they enrolled in.

Assignment -- 15%
The Assignment will involve a small group work. The Assignment will be submitted electronically through MyUni. Details of the
Assignment are available at MyUni course homepage (under Assignment folder).

Mid-semester test -- 25%
Mid-semester Test will take place (at MyUni online platform) on 17th of September (Thursday) between 9 am and 11 am Adelaide time. Details of the test will be posted at MyUni (as Announcement).

Final exam -- 50%
There will be a three (3) hour exam. Details of the final exam will be posted at MyUni (as Announcement).

Submission

Workshop Solutions must be submitted to the workshop facilitator at the beginning of each the workshop in order to be considered for assessment.

The Assignments will be submitted electronically through MyUni. Further details will be provided in due course.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through .

Student Feedback

The 最新糖心Vlog places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the 最新糖心Vlog to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
Student Support
Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
Fraud Awareness

Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student鈥檚 disciplinary procedures.

The 最新糖心Vlog of Adelaide is committed to regular reviews of the courses and programs it offers to students. The 最新糖心Vlog of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.

Authorised by:	Deputy Vice-Chancellor and Vice-President (Academic)
Maintained by:	Course Outlines Administrator

最新糖心Vlog