ACCY112 Spring 2020 - Subject Outline PDF

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School of Accounting, Economics and Finance ACCY112: Accounting In Organisations Subject Outline 6 credit points

Subject Information Spring, 2020, All campuses On Campus (delivered under Remote Study Mode**) ** Remote Study Support Site: In addition to the Subject Moodle site, the Remote Study Support Moodle site (TCHR054_20) is accessible to support your studies from remote locations around the globe until you can return to on campus study. This site will appear as an additional site on your list of active Moodle subject sites. This site contains comprehensive information with a range of resources related to teaching and learning as well as other student support information Lecture Information: Pre-requisites: ACCY111 Co-requisites: Nil Restrictions: None Contact Hours: Not specified Online Subject Material: ACCY112 is supported by an e-learning site, Moodle. Students enrolled in this subject can log on to the Moodle through their SOLS account, and the ACCY112 Moodle will be displayed.

Faculty Vision, Mission and PRME The Mission of the Faculty is to promote responsible leadership and sustainable business practice, and contribute to a stronger economy and a more just society. The Faculty Vision, Mission and Values statements can be found at https://business.uow.edu.au/vision-mission/index.html The Faculty is also a signatory to the Principles of Responsible Management Education (PRME) and supports the realisation of the United Nations Sustainable Development Goals. More information on PRME can be found at https://business.uow.edu.au/about/index.html

ACCY112 Subject Outline

Spring, 2020, All Campuses

Page 1 of 21

Teaching Staff Teaching Role

Coordinator

Name

Dr Hajar Roudaki

Telephone

02 4221 4026

Email

[email protected]

Room

40.333

Consultation Times

Tuesday 13.00-15.00 Wednesday 14.00-16.00

Teaching Role

Tutor

Name

Dr Anura De Zoysa

Telephone

02 4221 5382

Email

[email protected]

Room

40.308

Consultation Times

Wednesday 11:30-12:30 and 15:30-16:30

Teaching Role

Tutor

Name

Mrs Kellie McCombie

Telephone

02 4221 4003

Email

[email protected]

Room

40.310

Consultation Times

Tuesday 8.30am-10.30am Thursday 10.30-12.30

ACCY112 Subject Outline

Spring, 2020, All Campuses

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Email Etiquette: Consultation with your subject coordinator and/or teachers via email Your teachers receive many emails each day. In order to enable them to respond to your emails appropriately and in a timely fashion, students are asked to observe basic requirements of professional communication: Consider what the communication is about   

Is your question addressed elsewhere (e.g. in this subject outline or, where applicable, on the subject's eLearning site)? Is it something that is better discussed in person or by telephone? This may be the case if your query requires a lengthy response or a dialogue in order to address. If so, see consultation times above and/or schedule an appointment. Are you addressing your request to the most appropriate person?

Specific email title/ header to enable easy identification of subject related/ student emails 

Identify the subject code of the subject you are enquiring about (as your teacher may be involved in more than one subject) in the email header. Add a brief, specific header after the subject code where appropriate.

Professional courtesy    



Address your teacher appropriately by name (and formal title if you do not yet know them). Use full words (avoid 'text-speak' abbreviations), correct grammar and correct spelling. Be respectful and courteous. Academics will normally respond within 1-2 business days. If the matter is urgent, you may wish to telephone the teaching staff whose contact details are given in this subject outline or contact the School. Please ensure that you include your full name and identify your seminar or tutorial group in your email so that your teachers know who they are communicating with and can follow-up personally where appropriate.

Cyber Bullying The University is committed to providing a safe, respectful, equitable and orderly environment for the University community, and expects each member of that community to behave responsibly and ethically. Students must comply with the University's Student Conduct Rules and related policies including the IT Acceptable Use Policy and Bullying Prevention Policy, whether undertaking their studies face-to-face, online or remotely. For more information on appropriate communication and etiquette in the online environment please refer to the guide Online and Email Etiquette.

Copyright Commonwealth of Australia Copyright Regulations 1969 © 2020 University of Wollongong The original material prepared for this guide is covered by copyright. Apart from fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission.

ACCY112 Subject Outline

Spring, 2020, All Campuses

Page 3 of 21

Table of Contents Section A: General Information ..................................................................................................................... 5 Learning Outcomes ...................................................................................................................................... 5 Student Learning Outcomes ..................................................................................................................... 5 Subject Description ................................................................................................................................. 5 Course Learning Outcomes...................................................................................................................... 5 eLearning, Readings, References and Materials ............................................................................................ 5 Subject eLearning.................................................................................................................................... 5 Major Text(s) .......................................................................................................................................... 5 Key References ....................................................................................................................................... 6 Lectures, Tutorials and Attendance Requirements......................................................................................... 6 Lecture Times * ...................................................................................................................................... 6 Lecture Program *................................................................................................................................... 6 Lecture Recording ....................................................................................................................................... 8 Your Privacy - Lecture Recording ................................................................................................................ 9 Additional Lecture Comments ................................................................................................................. 9 Tutorial/Seminar/Workshop Times ........................................................................................................ 10 Tutorial/Seminar/Workshop Comments ................................................................................................. 10 Tutorial/Seminar/Workshop Program .................................................................................................... 10 Attendance Requirements - Participation/Contribution to Lectures/Tutorials/Seminars/Workshops.............. 12 Recent Improvements to Subject ................................................................................................................ 12 Extraordinary Changes to the Subject Outline ............................................................................................. 12 Learning Analytics ..................................................................................................................................... 12 Section B: Assessment .................................................................................................................................. 13 Assessment Summary ................................................................................................................................ 13 UOW Grade Descriptors........................................................................................................................ 16 Assessment Learning Outcome Matrix ....................................................................................................... 16 Minimum Performance Requirements ........................................................................................................ 17 Types of Assessment and Collaboration ..................................................................................................... 17 Submission, Retention and Collection of Written Assessment ..................................................................... 18 Submitting Assessment Tasks ................................................................................................................ 18 Extensions............................................................................................................................................. 18 Faxing, Posting and Emailing Assessment Work.................................................................................... 18 Late Submission of Assessment Tasks ................................................................................................... 18 Collection ............................................................................................................................................. 18 Retention .............................................................................................................................................. 18 Scaling ...................................................................................................................................................... 19 Supplementary Assessment ........................................................................................................................ 19 Review and Appeal of Academic Decisions ................................................................................................ 19 Assessment Quality Cycle .......................................................................................................................... 19 Assurance of Learning (What will students learn in their degree?) .............................................................. 19 Academic Integrity .................................................................................................................................... 19 Plagiarism Prevention............................................................................................................................ 20 Referencing ............................................................................................................................................... 20 Why do you need to reference? .............................................................................................................. 20 The Harvard System of Referencing ...................................................................................................... 20 Section C: General Advice for Students - Policies and Procedures ............................................................. 21

ACCY112 Subject Outline

Spring, 2020, All Campuses

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Section A: General Information Learning Outcomes Student Learning Outcomes On successful completion of this subject, students will be able to: 1. 2. 3. 4.

Analyse and present accounting information using basic accounting concepts and techniques. Solve simple accounting problems using computer spreadsheets. Prepare internal and external accounting reports using accounting information. Assess profitability and financial strength of business organisations using accounting information.

Subject Description The subject advances understanding of accounting in organisations. The subject introduces accounting for complex equity structures, and develops the theoretical and technical aspects of accounting for assets and the protection of assets through internal controls. Accounting for the past and future is examined through the introduction of cost structures and their application in solving fundamental business problems using costvolume profit analysis. The application of budgets is explored. Course Learning Outcomes Course Learning Outcomes can be found in the Course Handbook https://www.uow.edu.au/handbook/index.html.

eLearning, Readings, References and Materials Subject eLearning The University uses the eLearning system Moodle to support all coursework subjects. The subject Moodle site can be accessed via: https://moodle.uowplatform.edu.au/course/view.php?id=23365 IN ADDITION TO THE UOW ONLINE WOLLONGONG DISTANCE MOODLE SITE YOU WILL ALSO HAVE ACCESS TO THE REMOTE STUDY SUPPORT SITE. Remote Study Support Moodle site (TCHR054_20) is accessible to support your studies from remote locations around the globe until you can return to on campus study. This site will appear as an additional site on your list of active Moodle subject sites. This site contains comprehensive information with a range of resources related to teaching and learning as well as other student support information. Major Text(s) 

Hoggett, JR, Medlin, J, Chalmers, K, Beattie, C, Hellmann, A & Maxfield, J 2018, Accounting, 10th Edition, John Wiley and Sons, Australia. Available as e-textbook from $81.35 or the textbook for $154.95.

Textbook details are available online from the University Bookshop at https://unishop.uow.edu.au/

ACCY112 Subject Outline

Spring, 2020, All Campuses

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Key References 1. 2. 3.

ACCY112 Moodle site Noreen, B, Lave, B, Romey, J, Schatz, M & Shingledecker, D 2017, Beginning Excel, Open Oregon Educational Resources. AASB website: http://www.aasb.gov.au/Pronouncements/Current-standards.aspx

Lectures, Tutorials and Attendance Requirements Lecture Times * Lectures will be held on: Day

Start Time

End Time

Room

Lecture Program * Week Date

Topics Covered

Readings

Introduction to the subject

1



Revisit the Accounting Systems  Overview of accounting cycle  Double entry systems  Special journals



Introduction to Excel

03 Aug 2020

Managing Current Assets: Cash and Internal Control 2

10 Aug 2020   

Cash controls Bank reconciliation Petty cash fund transaction

 

Subject Outline Lecture notes



Hogget et al., Chapter 11 Lecture notes



Managing Current Assets: Receivables   3

17 Aug 2020

 

Nature of receivables Accounts receivable o Managing bad or doubtful debts  Direct write off method  Allowance method  Estimating bad or doubtful debts Bills receivable Credit Card Transactions

 

Hogget et al., Chapter 12. Lecture notes

Managing Current Assets: Inventory  4

24 Aug 2020

 

ACCY112 Subject Outline

Inventory recording systems o Periodic inventory system o Perpetual inventory system Cost determination of inventory o Periodic inventory system o Perpetual inventory system Estimating inventory o Retail inventory method o Gross profit method

Spring, 2020, All Campuses

 

Hogget et al., Chapter 13. Lecture notes

Page 6 of 21

Managing non-current assets

5

31 Aug 2020

    

Property plant and equipment Determining costs of property plant and equipment Methods of depreciation Subsequent costs and disposal of property plant and equipment Disclosure of property plant and equipment

 

Hogget et al., Chapter 14 Lecture notes

Managing Different Kinds of Entities: Partnerships

6

07 Sep 2020

     

Characteristics of partnerships Advantages of partnerships Formation, admission and withdrawal of a partner Allocation of profit or losses Drawings, loans and advances Preparation of financial statements

 

Hogget et al., Chapter 8 Lecture notes

Managing Different Kinds of Entities: Companies part 1  7

14 Sep 2020

    

Overview Advantages and disadvantages of companies Company formation Types of shares Accounting for share issues

Managing Different Kinds of Entities: Companies part 2 8

21 Sep 2020   

Forfeiture and re-issue of shares Dividend Preparation of financial statements

28 Sep 2020

Mid-Session Recess

05 Oct 2020

Mid-Session Recess



 

Hogget et al., Chapter 9 Lecture notes

Hogget et al., Chapter 9 Lecture notes

Managing Costs: Manufacturing entities

9

12 Oct 2020

  



Cost concepts in different sectors Cost classification Nature of manufacturing operations o Manufacturing cost categories o Product costing o Inventories for manufacturing Cost of goods manufacturing statement

Managing Costs: Cost Information for Decision Making 10

19 Oct 2020

ACCY112 Subject Outline

   

Cost behaviours and assumptions Contribution margin Assumption of cost-volume-profit analysis Break-even analysis

Spring, 2020, All Campuses

 

 

Hogget et al., Chapter 20 Lecture notes

Hogget et al., Chapter 22 Lecture notes

Page 7 of 21

Managing Costs: Budgeting

11

26 Oct 2020

    

Nature of budgetary planning and control The role of budget Ingredients for successful implementation of budgeting Distinguish between Operating and Financial budget Operating and Financial budget for Service and Retail Entities

 

Hogget et al., Chapter 23 Lecture notes

Managing Costs: Budgeting (continued) 

12

02 Nov 2020

Budgeting for manufacturing entities o Operating Budgets  Sales budget  Production budget  Direct material budget  Direct labour budget  Factory overhead budget o Financial Budgets  Capital expenditure budget  Cash budget  Budgeted balance sheet o Financial control with budgeting

 

 13

09 Nov 2020

Review Lecture

16 Nov 2020

Study Recess

21 Nov 2020

Examinations

28 Nov 2020

Examinations

 

Hogget et al., Chapter 23 Lecture notes

Hogget et al., Textbook Subject outline Lecture notes<...