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Unit Outline

MCD2150 Accounting for Managers

Diploma of Business

Monash College Diploma

Diploma of Business

Unit Outline Contents

Description ............................................................................................................... 2 Objectives ................................................................................................................. 2 English Language Outcomes .................................................................................. 2 Learning and Teaching ............................................................................................ 3 Unit Schedule ........................................................................................................... 4 Assessment & Feedback ......................................................................................... 6 Learning Resources ................................................................................................. 8 Diplomas Student Policies and Procedures ........................................................ 10

Contact Details Unit Leader: Phone: Email:

Emmy Pham 9905 9835 [email protected]

Team Leader: Phone: Email:

Mohan Nair 9905 8350 Mohan.N [email protected]

Reproduced and Published by: Monash College Pty. Ltd. Clayton, Victoria, Australia, 3800 © Copyright 2018 NOT FOR RESALE. All materials produced for this course of study are protected by copyright. Monash students are permitted to use these materials for personal study and research only, as permitted under the Copyright Act. Use of these materials for any other purposes, including copying or resale may infringe copyright unless written permission has been obtained from the copyright owners. Enquiries should be made to the publisher.

bus-2150-uo-011018-v3.1-ep

ABN: 064 031 714 CRICOS: Monash College Pty Ltd 01857J

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Unit Outline

Diploma of Business

Description This unit is an introduction to basic concepts in accounting and the application of these concepts for decision-making by a range of potential users (e.g., shareholders, investment analysts, lenders, managers etc.). This unit should benefit students whose primary interest lies in the field of business other than accounting. On completion, students should have an understanding of different business structures; the process of business planning and budgeting; costing and pricing, and other relevant concepts of management accounting as per curriculum. Students should understand the relevance of accounting information for informed decision-making by users, and have the ability to analyse and interpret accounting information and be able to prepare financial statements. Topics covered include the basic accounting equation, financial reports and financial statement analysis; and interpreting information as managers to use in planning, decision-making and control.

Objectives When you have completed this unit, you are expected to be able to: •

Identify different business structures and understand their benefits and challenges

•

Describe the elements of financial reports, define accounting elements and prepare and interpret basic financial reports and budgets;

•

Use ratio analysis in evaluating business performance, explain their use for decision making;

•

Interpret information (financial and non-financial) for managers to use in planning, decision making and control;

•

Perform cost-volume-profit analysis;

•

Understand capital budgeting and investment decision using ‘Net Present Value’, Residual Income and other related concepts (e.g. Payback, Internal Rate of Return, Accounting Rate of Return);

•

Apply critical thinking, problem solving and presentation skills to individual and /or group activities dealing with introductory accounting for managers

English Language Outcomes Speaking 1. Perform effectively in English during a short prepared presentation 2. Participate effectively in groups during discussions of unit related content in English

Listening 3. Listen to and mostly comprehend spoken English including lectures and tutorials. 4. Use note-taking strategies to record information from spoken texts and show understanding

Reading 5. Use a range of reading strategies to assist comprehension of written texts including textbook genre and practical problem-solving questions.

ABN: 064 031 714 CRICOS: Monash College Pty Ltd 01857J

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Unit Outline

Diploma of Business

6. Identify key information and produce accurate notes and summaries from written texts to demonstrate understanding

Writing 7. Demonstrate application of theories studied through reference to examples 8. Produce short coherent written texts that appropriately respond to timed exam questions

University Skills & Australian Socio-cultural Awareness 9. Show effective independent research and learning skills 10. Show socio-cultural awareness of Australian university contexts

Learning and Teaching This unit consists of a two-hour lecture and a 3 hour tutorial per week for 12 weeks. Hours of independent study expected per week: 8 hours Lectures Students are required to be well prepared before coming to lectures, which include pre-reading and completion of visual and practical activities on Moodle. Students should complete pre-lecture material before attending weekly lectures. A photocopy of completed open-ended questions in lectures are should be taken to tutorial classes. Tutorials A week-by-week outline of lectures and tutorials has been provided (see p.4) to guide you with your study program for weekly topics.

Tutorial questions for each topic in this unit are provided in this Unit Outline with reference to the pages of prescribed textbook. You are required to complete all the compulsory pre-tutorial questions outlined in the weekly schedule. You are required to present hand-written answers to each of compulsory questions in each tutorial and be able to explain your answers. You are also expected to participate actively in the tutorial activities, including group problem solving tasks. The compulsory pre-tutorial work and participation in group activities will be reflected in your assessments (refer to assessment information p.6).

ABN: 064 031 714 CRICOS: Monash College Pty Ltd 01857J

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Diploma of Business

Unit Outline Unit Schedule Week Lecture 1

2

3

4

5

Topic 1: Accounting and business (Chapter 1)

Topic 2: Business transactions (Chapter 2)

Topic 3: Income statement and Statement of changes in equity (Chapter 3)

Tutorial Questions Commences in week 2 Handout questions provided by tutors, and group work activities

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ALP

Topic 1 1.1; 1.2; 1.4, 1.8,1.12, 1.25 and handout questions provided by tutors and group work activities, revision of lecture questions

Quiz ALP

Topic 2 2.2, 2.3, 2.5, 2.6, 2.8, 2.10, 2.16; 2.18; 2.20 and handout questions provided by tutors and group work activities, revision of lecture questions

Quiz ALP Group Problem solving and presentation

Topic 4: Balance sheet

Topic 3

Quiz

(Chapters 4)

3.1,3.3, 3.4, 3.11, 3.17 and presentation question

ALP

Topic 5: Statement of Cashflows (chapter 5) and revision topic 1-4

Topic 6: Analysis and interpretation of financial statements (Chapter 11)

Topic 7: Business Structure (Chapter 6) and Business Planning (Chapter 7)

ABN: 064 031 714 CRICOS: Monash College Pty Ltd 01857J

Group Problem solving and presentation

Topic 4

Quiz

4.1, 4.4, 4.7, 4.9, 4.10, 4.11, 4.16, 4.18

ALP

And presentation question 6

Assessments

Group Problem solving and presentation

Topic 5

Quiz

5.4, 5.5, 5.9, 5.11, 5.12, 5.13, 5.16, 5.17 and presentation question and additional questions for revision

ALP Group Problem solving and presentation

Topic 6

Quiz

11.1, 11.4, 11.7, 11.9, 11.10, 11.17, 11.22 and presentation question

ALP Group Problem solving and presentation

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Diploma of Business

Unit Outline Week Lecture 8

Tutorial Questions

Assessments

Topic 8: Budgeting

Topic 7

Quiz

(Chapter 8)

6.1, 6.6, 6.7, 6.11, 6.12

ALP

7.10, 7.21, 7.25, 7.26, 7.28 Additional Questions – handout

Group Problem solving and presentation Mid Trimester Test Saturday week 8

9

10

11

12

Topic 9: Cost-volumeprofit analysis (Chapter 9)

Topic 10: Costing and pricing (Chapter 10)

Topic 11: Capital investment & decision making (Chapter 12)

Revision Lecture

Topic 8

Quiz

8.10, 8.12, 8.16, 8.21, 8.23 and presentation question

ALP Group Problem solving and presentation

Topic 9

Quiz

9.2, 9.8, 9.12, 9.13, 9.15, 9.19, 9.20, 9.29, 9.31 and presentation question

ALP Group Problem solving and presentation

Topic 10

Quiz

10.1, 10.2, 10.14, 10.15, 10.16, 10.20, 10.21, 10.25 and presentation question

ALP Group Problem solving and presentation

Topic 11 12.1, 12.2, 12.3, 12.15, 12.24, 12.26, 12.29, 12.30, 12.31 and presentation question

Quiz

Refer to page 7 for the assessment schedule and weighting

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Diploma of Business

Unit Outline Assessment & Feedback

We are committed to providing you with assessment tasks which cater for the needs of all learning styles, which are administered in a clear and fair manner and which are assessed transparently. All students are entitled to understand how to excel in any assessment task, to be provided with the support required to ensure your success and to be provided with fair and timely feedback which supports your future learning. Assessment is at the heart of your learning experience, and is a key focus for students. Assessment acts as the main link between the learning outcomes, the curriculum content and the teaching and learning activities. It provides the mechanism for staff and students to monitor and improve learning. Assessment is an integral component in all curriculum development activities. Linked to the learning outcomes, it ensures that you will be able to demonstrate the Monash University Graduate Attributes. Feedback will be provided in line with the Assessment Feedback Procedure. Every trimester, you have the opportunity to provide feedback on your Diploma units through the Student Evaluation of Teaching and Units (SETU) process. You will be emailed information about this survey during the trimester. Your feedback is highly valued, and is used to refine existing curriculum design and assessment tasks. You can find more information in the Assessment Feedback Diplomas Procedure found on the website https://www.monashcollege.edu.au/policy (go to ‘Diplomas-Policies and forms’).

Online Submission of Assignments: All written assessments / assignments must be submitted on Turnitin. Please follow the submission instructions. You will be required to read and accept a Student Statement before submitting Student statement I agree that: 

Plagiarism, collusion or cheating or any other breach of the Student Academic Integrity Policy and Procedure has not occurred



I understand the consequences of breaching academic integrity as outlined in the procedure



The assessment task is my own original work



I have taken care to safeguard my work and made reasonable efforts to ensure it could not be copied



The teacher, for the purposes of assessment, can reproduce the assessment and •

provide it to another teacher and/or any external marker, and/or

•

submit it to a text matching/originality checking software (the database may retain a copy of the assessment for future checking of plagiarism).

Your assignment must be submitted by 12am (midnight) on the due date.

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Diploma of Business

Unit Outline Assessment Schedule Assessment Task

Details

Weight

Date

Weekly in lecture activities and quiz questions

Individual

10%

Weekly from week 1

Mid Trimester Test

Individual. Multiple choice and/or short answer.

20%

Due: Saturday Week 8 Location and time will be advised

Closed book 2.0 hr duration and 10 minutes of reading Group Problem Solving and Presentation in class

Group and individual

10%

Ongoing weeks 3-11

In class Quizzes

Individual (to be completed in the tutorial)

10%

Ongoing weeks 2-12

Final Exam

Individual. Multiple choice and/or short answer.

50%

Week 13 or Week 14

2 hr duration and 10 minutes of reading

Weekly In Lecture Activities and in Lecture Moodle Quizzes MCD2150 has a bring your own computer device policy (BYOD). You need to bring your computer to lectures. Lectures will be using the Echo 360 Active Learning Platform Interactive Lecture system. Activities using your computer are to be attempted in each lecture. This assessment component is 10% of the assessment in MCD2150. 5% for participation and 5% for correct answers for activities during the lecture. Purely attending the lecture is not counted as participation. Participation is recorded through interaction on your device, by attempting the activity, being in the lecture and not participating in activities is not sufficient. The system will record participation score and activities score. Marks will be upload to Moodle on a weekly basis. Marks recorded by the system is the final mark.

Mid trimester tests The internal assessment includes the mid trimester test due on Saturday of week 8. The test is 2 hours and 10 minutes of reading time. The test may include a combination of multiple choice, calculation and short answer theory questions covering relevant topics. The test will include topics 1 to 6 inclusive and is closed book. Revision questions with solutions will be made available on the unit Moodle site for revision purposes before the test date to facilitate and improve students’ learning.

ABN: 064 031 714 CRICOS: Monash College Pty Ltd 01857J

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Unit Outline

Diploma of Business

Group Problem Solving and Presentation Students will be required to demonstrate problem solving and presentation skills by working in groups of 3 to 4 students during tutorials. The group activities are based on tutorial program (refer to p. 4), and/or specific questions will be given to students in class for this purpose. The group problem solving and presentation activities comprise 10% of final mark for this unit and it will consider students’ involvement in class discussions and working with peers. No participation mark will be awarded for missed classes. A rubric of how group problem solving and presentation will be marked, will be made available on Moodle. Students can present or being asked to present multiple times and the highest mark will be counted as a final mark for this assessment component.

Weekly in class quizzes Maximum of 10 marks will be awarded for student’s individual performanc e for in class quizzes. Students are required to complete the quiz from week 2 to week 12, in the tutorial. If students complete the quiz at home rather than in the tutorial, the mark for that quiz will become invalid. Quizzes given in the tutorial related to the previous lecture, therefore students are required to prepare by attending the lecture, reading related chapters and required questions (listed in page 4 of this unit outline) prior to the tutorial time. Quizzes can occur at the start, during or at the end of the tutorial.

Examination The exam may comprise combination of multiple choice questions, theory and practical questions. All material covered during the semester is examinable. The exam is 2 hour and closed book. More information regarding exam format will be available toward the end of trimester.

Requirements to Pass this Unit Internal assessment items are designed to assist you to achieve the learning outcomes of the unit. They are an integral part of your learning and you should complete all of them. In order to achieve a pass in this unit, you are required to achieve at least 50% on the exam AND achieve a combined (internal and exam) overall mark of 50% or above for the unit. Students who both fail to meet the hurdle requirement(s) outlined above and who would otherwise have received a 49N or better grade will automatically receive a 48N result.

Learning Resources Details of the prescribed and recommended resources for successful completion of this unit are listed below.

Required Textbook Customized e-version of Birt, Chalmers, Maloney, Brooks, Oliver, Accounting for Managers, 2nd edition, John Wiley & Sons, Australia Note: this is custom publication for Monash University and is available only as e-book. Do not buy a hard copy as it is not the book to be used for this unit.

ABN: 064 031 714 CRICOS: Monash College Pty Ltd 01857J

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Unit Outline

Diploma of Business

Here is the link you should use to access the e-book: http://www.wileydirect.com.au/buy/accacf1200monash2e/

Required Calculator HP10bII+ Financial Calculator. Please note: Students must purchase this calculator for use for all Diploma of Business Units. This will be the only calculator that will be allowed into exam and tests for all Diploma of Business units (excluding MCD1230).

Additional Readings/Resources The following texts provide discussion on similar topics which may assist your learning of the unit material as they may provide further views and discussion. These maybe accessed from the library or the ILC. Bazley, M., & Hancock, P. (2010). Contemporary accounting (7th Ed.). Victoria: Cengage Learning. Chalmers, K., Mitrione, L., Fyfe, M., Weygandt, J., Kieso, D., & Kimmel, P.D. (2007). Principles of financial accounting. (1st Australian Ed.). Milton, Qld: John Wiley & Sons Australia. Horngren, C.T. et al. (2006). Accounting. (7th Ed.). NSW: Pearson Australia. Peirson, G. & Ramsay, A. (2006). Financial accounting: An introduction, 4th edition, Pearson Education, Australia. Q Manual For guidance on how to reference, essay and report writing structure etc students should refer to the Q Manual. The Q Manual was specifically written as a guide for students studying within the Faculty of Business and Economics. Printed copies are available at the bookshop or...