Units

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Sample subject outline - Semester 1 2013

Note: Subject outlines often change before the semester begins. Below is a sample outline.

Rationale

Accounting data is the basis for decision making in any organisation. Accordingly, it is important for any business professional to have a basic level of knowledge and understanding of modern financial and managerial accounting theory and practice.

Aims

The aim of this unit is to provide you with a basic level of knowledge of modern financial and managerial accounting theory and practice so that you can understand how accounting data is used to help make decisions in organisations.

Objectives

Course Learning Goals (Undergraduate)
The QUT Business School has established the Assurance of Learning (AOL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:

Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Integrate and apply disciplinary theory and skills to practical situations
1.2 Incorporate the use of technology appropriate to the discipline and context

Be critical thinkers and effective problem solvers (CTA)
2.1 Identify, research and critically analyse information relevant to a business problem or issue, be able to synthesise that information in order to evaluate potential solutions, make recommendations or otherwise effectively address the problem or issue

Be professional communicators in an intercultural context (PC)
3.1 Communicate effectively through written tasks appropriate to varied contexts and audiences
3.2 Communicate effectively through professional oral presentations appropriate to varied contexts and audiences

Be able to work effectively in a Team Environment (TW)
4.1 Demonstrate effective team skills in order to contribute appropriately to the production of a group output

Have a Social and Ethical Understanding (SEU)
5.1 Apply ethical reasoning, standards or codes of practice relevant to the discipline and make decisions that are informed by social and cultural understanding

Upon completion of this unit, you should:

1. Be able to demonstrate your understanding of the nature of accounting as a communication system in the internal and external environment of an organisation
2. Have developed a satisfactory level of competence in practical accounting skills by the utilisation of a generalised system of recording financial data
3. Have developed analytical and interpretive skills in the understanding of accounting as a financial data system for planning and control purposes
4. Be able to critically evaluate accounting information

The specific course learning goals and unit objectives that apply to this unit are shown in the assessment section of this unit outline.

Content

The underlying theme of this unit is to illustrate how accounting information is used in the real world for decision making. The Qantas Annual Report will be used as the vehicle to do this by referring to the report in all class activities and illustrating how accounting information is used in the business decision making process. In addition, relevant real world examples will be included in class activities and assessment to further illustrate the relationship between accounting information and business decision making. All types of decision making will be illustrated and discussed viz. financing, investing and operating decisions.

The content chosen in this unit starts with a basic introduction to accounting and accounting processes, before progressing to detail how financial statements are prepared and used to help make decisions. This is then demonstrated with skills development in the form of the Accounting Practice Set. This leads into more advanced consideration of the ways in which accounting information is used in business. This progression builds to the conclusion of the unit, which focuses on analytical and interpretational skills, which, in turn, acts as a foundation for management accounting and the special decision making needs of managers.

Australian accounting standards have been harmonised with the standards issued by the International Accounting Standards Board. As a consequence, from 1 January 2005, entities applying Australian standards will also comply with International Financial Reporting Standards. The accounting policies and issues taught in this unit will therefore provide students with an appreciation of the international dimensions of the discipline.

The following topics will be covered in this unit:

- Introduction to accounting and the accounting process;
- Adjusting the accounts;
- Completing the accounting cycle;
- An introduction to the GST and the operation of accounting systems;
- Cash flow statements;
- Accounting and control of inventory systems;
- Corporate governance;
- Internal management control and accounting and control of cash;
- Corporate social responsibility accounting;
- Accounting and control of non-current assets;
- Analysis and interpretation of financial statements;
- An introduction to management accounting;
- An introduction to corporate sustainability

Approaches to Teaching and Learning

Classes are 3 hours each week. The 3 hour class will be used for a lecture which introduces new material, and a workshop on the previous week's work. For all lectures a lecture outline is available on the BSB110 Blackboard site and should be downloaded prior to the lecture. You will get the most out of the lectures if you bring the Lecture Outline with you. Homework questions are included in each lecture outline. Students are strongly encouraged to keep up with the work by completing all of these questions in the allotted week.

This unit will encourage you to conceptually link the theoretical aspects with the practical aspects and thus you will be able to apply your knowledge to a wide variety of accounting situations. Lectures will provide an introduction to the theoretical concepts, and will use practical examples to illustrate techniques and processes. Your learning will be supported by more in-depth homework questions which are designed to further develop your understanding of the material covered. Solutions for all homework questions will be provided on the BSB110 Blackboard site each week.

Full lecture notes will be provided on the BSB110 Blackboard site at the end of each week.

Homework Questions: The basic understanding provided in lectures will be developed through the use of practice questions. To achieve the objectives of the unit it is essential that you complete the practice questions each week so that you can develop a sound understanding of the content of the unit.

Workshop Questions: The workshop questions are designed to further reinforce the work covered in the lecture, to show how various issues in the lecture material fit together, and to give students the opportunity to see how problems are worked, and discuss why something is done a certain way.

Proper attention to the teaching and learning strategies should enable you to meet the assessment requirements of the unit. You will be assessed on your developing knowledge, understanding and skills using a range of inter-related assessment methods.

It has been observed that those students who do not perform well in accounting subjects are those who fail to complete the weekly practice questions and who do not attend classes.

Assessment

Formative assessment in the form of quiz/discussion questions will be available by week 4 to give feedback to students on their progress, to allow them to gauge their aptitude for the unit.

Formative Quiz in class in week 4 - 10 multiple choice questions covering topics 1 to 3.
Formative Quiz in class in week 6 - 10 multiple choice questions covering topics 3 to 5.
Formative Quiz in class in week 11 - 2 small practical questions covering topics 7 to 8.Students will receive feedback in various forms throughout the semester which may include:
· Informal: worked examples, such as verbal feedback in class, personal consultation
· Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
· Direct: to individual students, either in written form or in consultation
· Indirect: to the whole class

Assessment name: Mid-Semester Examination
Description: The exam will be a closed-book examination covering topics 1-5, and will consist of 40 multiple choice questions worth 1 mark each. There will be 8 questions from each topic.
Length: 1 hour for working (no perusal)
Formative or Summative: Both
Relates to objectives: Unit objectives: 1, 2 and AoL goals: KS (1.1, 1.2), CTA (2.1)
Weight: 25%
Internal or external: Internal
Group or individual: Individual
Due date: Week 7

Assessment name: Accounting Practice Set
Description: The Accounting Practice Set requires you to complete the accounting cycle for one month for a sole trading service business and is based on the work covered in topics 1-5.
Length: Completion of the accounting cycle for one month
Formative or Summative: Both
Relates to objectives: Unit objectives: 1, 2 and AoL goals: KS (1.1, 1.2), CTA (2.1)
Weight: 25%
Internal or external: Internal
Group or individual: Individual
Due date: Week 10

Assessment name: End of Semester Examination
Description: The examination will be closed book. It will consist of both practical and theoretical questions, and will examine work covered in topics 6-12 inclusive.
Length: 2 hours for working plus 10 minutes perusal
Formative or Summative: Summative
Relates to objectives: Unit objectives: 1, 2, 3, 4 and AoL goals: KS (1.1, 1.2), CTA (2.1), SEU (5.1)
Weight: 50%
Internal or external: Internal
Group or individual: Individual
Due date: Central Exam Period

Academic Honesty

QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.

A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.

Resource materials

Before purchasing any text for this unit, please ensure that the prescribed text is the one that will be used for the semester you are studying. Prescribed texts are sometimes updated very close to the start of a semester.

A custom text titled 'Accounting BSB110' has been prepared for the unit. It is based on the text previously used in the unit:
- Horngren, Harrison, Best, Fraser, Willett (2010), Accounting, 6th edition, Sydney, Pearson Australia

**This text book is also available for purchase as an on-line text. You can purchase this on-line access code from Pearson Australia (www.pearson.com.au). The printed version of the text book contains on-line access as part of the text book package.

If terminology or accounting treatment in the text and the lecture notes differs, you are required to follow the lecture notes. All examination questions will use terminology from the lecture notes.

References
Hoggett J, Edwards L and Medlin J, and Tilling, M (2007) Accounting, 7th Ed, John Wiley and Sons, Brisbane.
Atrill, P., McLaney, E., Harvey, D., and Jenner, M. 2009, Accounting: An Introduction, 4th ed, Prentice Hall, NSW.
Trotman, K and Gibbins, M., (2009) Financial Accounting: An Integrated Approach, 4th ed, Thomas Nelson, Melbourne.

Other Resources
Additional resources can also be found at the unit's Blackboard site.

Risk assessment statement

There are no out-of-the ordinary risks associated with this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the >Emergency video.

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.

Last modified: 24-Jan-2013