2017 Summer 22207 v4 standard city 15-11-17 PDF

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Download 2017 Summer 22207 v4 standard city 15-11-17 PDF

Description

SUBJECT OUTLINE 22207 Accounting for Business Decisions B Course area

UTS: Business

Delivery

Summer 2017; City

Credit points 6cp Requisite(s)

22107 Accounting for Business Decisions A OR 22107c Accounting for Business Decisions A These requisites may not apply to students in certain courses. There are also course requisites for this subject. See access conditions.

Result type

Grade and marks

Teaching staff Subject Coordinator: Dr. Nelson Ma Email: [email protected] Subject Assessor: Associate Professor Jonathan Tyler Email: [email protected] See UTS online for details of all other staff

Subject description This subject develops students' understanding and application of accounting information in more complex business scenarios; partnerships and companies. It also develops the use of accounting information internally by management, expanding the factors needed to be considered including the skills to facilitate and enhance decision making, accountability and control. Ethical implications of decisions are considered throughout the subject.

Subject learning objectives (SLOs) Upon successful completion of this subject students should be able to: 1. integrate the perspective of accounting information into the internal and external decision-making of an economic entity 2. demonstrate analytical skills in problem-solving and quantitative skills in fundamental accounting processes and issues 3. apply skills in processing accounting information and preparing financial statements in a manual- and computer-based environment, taking into account generally accepted accounting principles 4. evaluate the ethical issues facing the accounting profession and the framework in which accounting operates. 5. evaluate the issue of business sustainability, and how it relates to the accounting profession

Contribution to the development of graduate attributes This subject focuses on the application of accounting including fundamental accounting processes and issues, as well as critical, analytical and quantitative skills. On completion of the subject students are equipped with the knowledge and skills to deal with accounting information systems in the business environment. It also provides students with professional skills including the appropriate consideration of ethical issues, communication, and information technology in the context of organisations in Australia and internationally. This subject contributes to the development of the following graduate attributes: Business knowledge and concepts Attitudes and values Business practice oriented skills 14/11/2017 (Summer 2017)

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This subject also contributes specifically to introducing learning related to the following program learning objectives: Critically analyse relevant concepts to understand practice in business and related professions in a global workplace (1.1) Critically analyse sustainability principles for various stakeholders in relation to business contexts (4.2) Apply technical and professional skills necessary to operate effectively in business and related professions (5.1)

Teaching and learning strategies Accounting for Business Decisions B is taught using a mix of face-to-face teaching, online resources and self-directed study. Lectures: Lectures provide the structure of a topic area, discussion of theory and some practical examples. Lecture recordings (audio and screen capture) are available on UTSOnline. Mobile quiz technology may be used in lectures to check students understanding of new material. Screencasts: Some lectures will be supplemented with short screencasts videos available on UTSOnline. Students will be required to watch the screencast video after the lecture, and prior to the tutorial in the following week. Tutorials: Students are expected to have attended the lecture, watched any relevant screencast videos, and attempted all homework questions before attending the tutorial. Completing tutorial homework questions before class forms part of the assessment of the subject. Tutorials provide an opportunity to discuss ideas, ask questions about previously completed questions, and receive feedback on completed homework questions. Additional questions will be presented in tutorials for students to attempt as both individual and group work activities. Tutorial extension questions are more difficult than the homework and preparation questions, and allow students to extend on the preparation they put in before class time. Mobile quiz technology may be used by tutors to ensure students have an active learning experience, and to check students understanding of new material. Discussion Board: Extensive use is made of the UTSOnline Discussion Board to answer student enquiries. Self-directed study: Students will be required to undertake self-directed study in completing a practical computer based assignment using MYOB software. Textbooks and online Lynda.com videos are available to help students. Consultations: Lecturing staff are available for consultation appointments. Students can use the consultation appointment for further help in covering difficult material, and to receive feedback on their understanding. Email the subject coordinator or lecturer to book a consultation

Content (topics) 1. 2. 3. 4. 5. 6. 7.

Accounting in an Australian context Cash and accounting Accounting for different business structures Accounting regulations Management accounting systems Standard costing and accumulating accounting information Accounting information as inputs to management decisions

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Program Week/Session

Dates

Description

1

12 December

LECTURE 1: Non-current Assets (ACCT Financial Ch. 8) Notes: Tutorial 1: There is NO tutorial on the 12th December.

2

14 December

LECTURE 2: Partnerships (ACCT Financial Ch. 10) Notes: Tutorial 2: Before class: Watch: Non-current assets screencast video - available on UTSOnline Read: ACCT Financial: Chapter 8 (Non-current assets) Complete: ACCT Financial: Chapter 8 Exercises 1 and 5. Problem 17 Class Discussion Question: Evaluate the advantages and disadvantages of depreciation as an accounting concept - on balance, do you think the measurement of depreciation aids accounting practice? In class: Tutorial 2 extension question - available on UTSOnline After class: Self study: ACCT Financial Chapter 8, Exercises 2, 4, 9, 10 and 11

3

19 December

LECTURE 3: Shareholders Equity Accounting (ACCT Financial Chapter 11) Notes: Tutorial 3: Before Class: Watch: Partnership screencast video - available on UTSOnline Read: ACCT Financial Chapter 10 (Partnerships) Complete: ACCT Financial Chapter 10, Exercises 4, 5 (only a. and b.), 7, 9 and 11. Class Discussion Question: Partnerships are always a superior organisation structure to companies, as partnerships don't pay tax. Do you agree? Please answer with reasons. In Class: Tutorial 3 extension question - available on UTSOnline After Class: Self study: ACCT Financial Chapter 10, Exercises 3, 8, and 10. Quiz 1 - Opens 18th December 2017 and due 24th December 2017. The quiz will close at 11:30pm. Multiple choice questions covering lecture 1 and 2. Available on UTSOnline.

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4

21 December

LECTURE 4: Cash Flows (ACCT Financial Ch. 12) Notes: Tutorial 4: Before Class: Watch: Shareholders Equity screencast - available on UTSOnline Read: ACCT Financial Chapter 11 (Shareholders Equity) Complete: ACCT Financial Chapter 11, Exercises 4, 5, 8, 9 and Problem 17 (For Exercise 4, there are two parts, a) record transactions based on 100,000 shares in application as given in the main question, b) assume 123,000 shares in application with refund etc. as given in the requirement). Class Discussion Question: "Shareholders will always prefer a cash dividend to a share dividend". Do you agree? Please explain your answer. In Class: Tutorial 4 extension question - available on UTSOnline After Class: Self-study: ACCT Financial Chapter 11, Exercises 3, 7, 11, 12, and Problem 18.

5

2 January

LECTURE 5: Financial Statement Analysis (ACCT Financial Ch. 13) Notes: Tutorial 5: Before Class: Read: ACCT Financial Chapter 12 (Cash Flows) Complete: ACCT Financial Chapter 12, Exercise 1, 6, Problems 19 and 20. Class Discussion Question: Profitable companies always have sufficient cash, so the more profitable a company is, the less important it is to manage cash flows carefully. Do you agree? Please discuss. In Class: Tutorial 5 extension question - available on UTSOnline After class: Self-study: ACCT Financial Chapter 12, Exercises 2, 7, Problem 21. Quiz 2 - Opens 3rd January 2018 and due 9th January 2018. The quiz will close at 11:30pm. Multiple choice questions covering lecture 3 and 4. Available on UTSOnline.

5

4 January

MYOB walkthrough and Revision Session Notes: Tutorial 6: Before Class: Read: ACCT Financial Chapter 13 (Financial Statement Analysis)

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Complete: ACCT Financial Chapter 13, Exercises 11, 13, 14 and 17 (you must also interpret the ratios) Class Discussion Question: "Financial ratios are just numbers, they do not tell you what's really going on in an organisation." How would you respond to this statement? Please discuss. In class: Tutorial 6 extension question - available on UTSOnline After class: Self-study: ACCT Financial Chapter 13, Exercise 12, 16, 18, and Problem 20

7

9 January

LECTURE 6: Accounting and Ethics (ACCT Managerial Ch. 16) Notes: Financial Accounting Revision Tutorial: Before Class: No tutorial homework In Class: Tutorial 2 extension question - available on UTSOnline Tutorial 3 extension question - available on UTSOnline Tutorial 4 extension question - available on UTSOnline Tutorial 5 extension question - available on UTSOnline Tutorial 6 extension question - available on UTSOnline

9

11 January

LECTURE 7: Budgets for planning and decision making (ACCT Managerial Ch. 12) + Flexible budgets and variance analysis in organisations (ACCT Managerial Ch. 13 pages 205-206) Notes: Tutorial 7: Before Class: Read: ACCT Managerial Chapter 16 (Ethics and Management Accounting) Read: Please read the NRL case provided on UTS Online, and lecture slides in order to familiarise yourself with the concept of ethics and independence in accounting. Complete: Question 1: Give two examples of when legal accounting conduct might be unethical - describe how you might manage this in your organisation, if your employees were found engaging in such conduct. Please explain with reference to the AESB standard. Question 2: Discuss the possible ethical issues that might have arisen from the structural connectedness between the News Limited and NRL competition prior to 9th February 2012. Applying the APESB, what ethical principles and threats might be relevant here?

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Question 3: How does the salary cap audit ensure the maintenance of ethical behaviour by clubs in relation to player salary payments? In Class: Tutorial 7 extension question - available on UTSOnline After Class: Self-study: ACCT Managerial Chapter 16, Exercise 1, 3, 4, and Problem 7. Quiz 3 - Opens 12th January 2018 and due 18th January 2018. The quiz will close at 11:30pm. Multiple choice questions covering lecture 5 and 6. Available on UTSOnline.

10

16 January

LECTURE 8: Flexible budgets and variance analysis in organisations (ACCT Managerial Ch. 13) Notes: Tutorial 8: Before Class: Read: ACCT Managerial Chapter 12 (Budgets for planning and decision making) Complete: ACCT Managerial Chapter 12, Exercises 13, Problem 17. ACCT Managerial Chapter 13, Exercises 2 Class Discussion Question: Despite the numerous advantages of budgeting, there are negative aspects to budgeting. Discuss the potential problems associated with the use of budgets. In Class: Tutorial 8 extension question - available on UTSOnline After Class: Self-study: ACCT Managerial Chapter 12, Exercises 2, 3, 4, 6, 7, and 8.

11

18 January

LECTURE 9: Performance mangement systems (ACCT Managerial Ch. 14) Notes: Tutorial 9:

Before Class: Read: ACCT Managerial Chapter 13 (Flexible budgets and variance analysis) Complete:ACCT Managerial Chapter 13, Exercises 3, 7, and 8 (For Exercise 8, use the information in Exercise 7 not Exercise 5). Class Discussion Question: Variance analysis doesn't help us solve problems, it just tells us what they are". Discuss this statement, with explanations In Class: Tutorial 9 extension question - available on UTSOnline 14/11/2017 (Summer 2017)

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After Class: Self study: ACCT Managerial Chapter 13, Exercise 4, and Problem 14. Quiz 4 - Opens 19th January 2018 and due 25th January 2018. 7. The quiz will close at 11:30pm. Multiple choice questions covering Lecture 7 and 8. MYOB ASSIGNMENT is due on the 18th January - HAND IN DURING TUTORIAL 9.

12

23 January

LECTURE 10: Accounting for sustainability (ACCT Managerial Ch. 15) Notes: Tutorial 10:

Before Class: Read: ACCT Managerial Chapter 14 (Modern performance management systems) Complete:ACCT Managerial Chapter 14, Exercises 2, 4, 9 Class Discussion Question: Discuss the Balanced Scorecard, and the advantages it may provide in performance management above and beyond using only the traditional financial statements. In Class: Tutorial 10 extension question - available on UTSOnline After Class: Self study: ACCT Managerial Chapter 14, Exercise 3, 5, and Problem 10

13

25 January

LECTURE 11: Final exam revision and discussion Notes:

Tutorial 11: Before Class: Read: ACCT Managerial Chapter 15 (Accounting for Sustainability) Complete: ACCT Managerial Chapter 15 Exercises 1, 3, 5 and 6 Class Discussion Question: Accountants and accounting cannot help address the environmental issues facing government and private sector leaders - to what extent do you agree or disagree with this statement, and why? Please explain your answer. After Class: Self-study: ACCT Managerial Chapter 15 Exercise 1, Problem 8.

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Quiz 5 - Opens 26th January 2018 and due 1st Febuary 2018. The quiz will close at 11:30pm.Multiple choice questions covering lectures 9 and 10.

Additional information Studying Accounting for Business Decisions B Success in this subject requires continual commitment. It is not a subject that lends itself to rote learning. Students should NOT expect to pass simply by cramming at the end of the semester. However, any student who completes the work with understanding of concepts each week will find that they should have little trouble in passing the subject and will probably do well in this subject. Generally, the lectures deal with matters of principle whereas the tutorials are concerned with practical applications of these principles. Student success in this subject depends upon active participation in tutorials and substantial work in one's own time. As a general guide, each hour of face-to-face lessons should be supported by at least two hours of study. This will vary from session to session and according to individual needs. Proficiency in this subject and examination success comes from problem solving and analysis. Simply taking notes and reading the texts, though necessary, is insufficient. It is for this reason that assignment questions are set. Tutorials consist of home assignment questions that are based on the previous week's lecture. Mastering the questions set as discussion questions, exercises and problems is an excellent form of exam preparation. These questions should be prepared before tutorials for presentation and discussion. Caution: With the introduction of flexible learning through UTSOnline, some students may find it more efficient to obtain the information and their education electronically. Students who do so are encouraged to conscientiously work through the material week by week. Do not leave your study until just before the final examination.

Contribution to Integrating Themes This subject provides students with an opportunity in their tutorial group discussions and homework presentations to develop their professional communication skills. They are also provided with an opportunity to develop their information technology skills, as they are required to complete a vocationally relevant computer based accounting assignment for assessment. Through group tutorial discussions, solving problems and working together to receive feedback on their performance, students have an opportunity to develop their interpersonal relationships. The subject also contributes to their international cultural understanding, as local and overseas students are encouraged to work together in small groups. It also provides an awareness of the international accounting regulatory bodies and their attempts to harmonise accounting standards, together with a review of foreign business organisations. To do well in this subject, students need to develop analytical and evaluative skills. In other words, you should not approach the material in this course as one of memorising rules or particular solutions only. For instance, decision-making questions require students to firstly identify the relevant information. In other words, you have to understand why some information is included and other excluded rather than merely memorising particular solutions. Instead you should develop your analytical skills with respect to the identification and use of decision relevant accounting information. The focus of the learning process will be the lectures and tutorials where students will be exposed to both the theoretical material and practical illustrations as well as the fundamental conceptual and technical material through a combination of practical exercises, problems and case studies as well as ethical issues and discussion.

The Professional Accounting Bodies There are a number of professional accounting organisations in Australia. Students can join either for free (you need only supply your email address). Free student membership entitles you to many of the benefits enjoyed by the high fee paying members plus additional activities specifically organised for students. CPA Australia (CPA): CPA Australia has over 122,000 members in finance, accounting and business around the world. It also actively supports those completing studies at university through its student network known as the CPA Passport Program. The CPA Passport Program is available to all business students free of charge through the CPA Careers website: www.cpacareers.com.au. As a CPA Passport member, you will gain access to a number of products and services designed to assist with your studies and future career options. Upon joining the network, you will receive free subscription to Real Business Magazine, have an opportunity to participate in the Work Experience Programs and attend a workshop on Opportunities in Asia or Graduate Recruitment Fair. For a nominal charge students can access the CPA Library -the biggest business library in the Southern Hemisphere. Students also receive a discounted rate to subscriptions of In The Black and other professional magazines including The Australian Accounting Review. CPA 14/11/2017 (Summer 2017)

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