ACCTING 7019 - Accounting Concepts and Methods (M)

North Terrace Campus - Semester 1 - 2015

This course introduces students to the fundamentals of financial accounting practice. It develops students' understanding of key accounting concepts, recording methods and measuring and disclosing requirements. Topics include an introduction to accounting information in decision contexts, the conceptual framework (SAC 1, SAC 2, the Conceptual Framework), Income Statement and Balance Sheet, recording financial transactions, adjusting entries and the accounting cycle, inventory, revaluations, cost of acquisition, depreciation, introductory financial statement analysis, organisational 最新糖心Vlog (sole proprietors, partnerships, companies, not for profit), cash flow statements, and other selected issues relating to financial reporting standards.

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Course Details

Course Code	ACCTING 7019
Course	Accounting Concepts and Methods (M)
Coordinating Unit	Adelaide Business School
Term	Semester 1
Level	Postgraduate Coursework
Location/s	North Terrace Campus
Units	3
Contact	Up to 4 hours per week
Available for Study Abroad and Exchange	Y
Incompatible	ACCTING 7000
Assessment	Exam/assignments/tests/tutorial work as prescribed at first lecture

Course Staff

Course Coordinator: Dr Sabine Schuhrer

Course Timetable

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

Course Learning Outcomes

1	Explain and apply the concepts that underlie the preparation of general purpose financial statements.
2	Explain the purpose of, and factors which influence the content of, a Statement of Financial Position, a Statement of Comprehensive Income and a Statement of Cash Flows.
3	Prepare a simple Statement of Comprehensive Income, Statement of Financial Position and Statement of Cash Flows.
4	Discuss the various business 最新糖心Vlog through which an entity can operate.
5	Discuss the accounting system (source documents, journals, ledgers) used to record, classify and summarise transactions.
6	Explain and apply the rules of debit and credit.
7	Record transactions using the accounting system.
8	Prepare adjusting entries and an adjusted trial balance.
9	Prepare financial statements from an adjusted trial balance or using a worksheet.
10	Record transactions and prepare a set of financial statements using the MYOB computer package.
11	Discuss and account for various assets including inventory, receivables and non-current assets.
12	Account for various organisation 最新糖心Vlog including sole proprietors, partnerships and companies.
13	Analyse financial statements.
14	Participate in tutorial discussions.
15	Write analytical short answers.
16	Develop and apply basic research skills, in accordance with the 最新糖心Vlog of Adelaide Graduate Attributes. In addition, this course offers an introduction to: - exercising judgement in making decisions in diverse contexts; and - applying research principles and skills in planning and executing a research-based project to investigate an accounting issue or problem;
17	Self-evaluate their research and learning skills, identify their strengths and aspects that can be improved, adopt strategies to address their issues in developing their research and learning skills.

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)
Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised.	1-17
The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner.	13,14, 16, 17
An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems.	11-17
Skills of a high order in interpersonal understanding, teamwork and communication.	14 - 17
A proficiency in the appropriate use of contemporary technologies.	10 - 16
A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life.	1-17
A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community.	1-17
An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities.	16

Learning Resources
Required Resources

Text Books:
Hoggett, J., Edwards, L., Medlin, J., Chalmers, K., Hellmann, A., Beattie, C., and Maxfield, J. , Financial Accounting, 2015, 9th Edition, John Wiley & Sons.

Accounting Practice Sets – Assignment 2 will involve practice sets and further information will be provided at a later date.

Financial press:
In this course we may use articles from the financial press to illustrate the concepts discussed and for the research assignment. All major newspapers have a business section and many are currently on the internet. The 最新糖心Vlogn Financial Review is the most comprehensive financial newspaper in 最新糖心Vlog.

Use of the internet:
Accounting Concepts and Methods (M) will make use of various internet sites which are accounting related. Access to the internet can be via the library or various computer pools located within the university.

Online Learning
Course resources are available on the course website: , including:
- Lecture and tutorial documents;
- Sample mid-semester test with suggested answers; and
- Assignment related documents
Students will be able to purchase access to WileyPLUS, an online resource accompanying the text book. Please note that this is an optional tool, students are not required to purchase the WileyPLUS version of the textbook.
Learning & Teaching Activities

Learning & Teaching Modes

Lectures

Lectures will provide students with accounting concepts that underpin all accounting procedures, and give explanations and examples of analysing, recording, and summarising accounting information in formats suitable for users to make economic decisions. The material presented will be expanded and reinforced in tutorials the following week.

Tutorials

Tutorial classes will be held weekly commencing Week 2, the week beginning Monday 9 March. Each tutorial will be for two hours. Tutorial questions are included in the handout for each topic and reinforce the material covered in lectures the previous week, both as discussion questions and numerical questions. The tutorials include three types of questions:

1. Questions to be prepared

These questions should be prepared before the tutorial and will be briefly discussed at the beginning of each session. Please note that tutors expect that you are prepared and will not provide detailed answers.

2. Questions to be done in class

These questions are done in-class, often as group activities. No extra preparation is required.

3. Self-study questions

Solutions to self-study questions are provided on MyUni. These questions will only be discussed if requested by students for clarification of specific issues.

Membership of tutorial classes is to be finalised by the end of the second week of semester. Students wishing to swap between tutorial classes after this time are required to present their case to the Lecturer-in-Charge, but should be aware that such a request may not be approved.

Tutorials are an important component of your learning in this course and you are strongly encouraged to participate. The communication skills developed in tutorials by regularly and actively participating in discussions are considered to be most important by the School and are highly regarded by employers and professional bodies.

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 for a three-unit course or 13 hours for a four-unit course of private study outside of your regular classes.

Students in this course are expected to attend all lectures throughout the semester plus one tutorial class and one workshop each week

Learning Activities Summary

Accounting Concepts and Methods (M) covers the topics outlined below. Topics include: accounting information in its decision making context; accounting systems and the accounting cycle; external financial reports; accounting for assets; different organisational 最新糖心Vlog; and financial statement analysis. Detailed information will be provided to enroled students at the beginning of the semester.

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

Assessment	Due Date and time	Weighting	Related Learning Outcome
Research Project Part 1 Part 2 Part 3 Summative	Friday 27 March, 5 pm Friday 24 April, 5 pm Sunday 14 June, 5 pm	20 %	1, 2, 13, 16 and 17
Test Summative	Held in lecture time Thursday 7 May (Week 8)	15 %	1, 2, 3, 4, 5, 6, 7 and 8
Practice Set: Part 1 Part 2 Formative and Summative	Refer to Practice Set information	15 %	6, 7, 8, 9, 15 and 16
Final Examination Summative	Date to be confirmed; 3 hours plus reading time	50 %	All
Total		100 %

Further information about assessments will be provided to enrolled students at the beginning of the semester.

Assessment Related Requirements

To gain a pass for this course, a mark of at least 50% must be obtained on the final examination as well as a total of at least 50% overall result.

Students not achieving the minimum final examination mark will be awarded no more than 49 for the course.

Assessment Detail

No information currently available.

Submission

No information currently available.

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

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