22207 Accounting Transactions and Business Decisions

Subject level: Undergraduate

Handbook description

This subject continues the study of accounting as an information system and equips students with the appropriate accounting skills necessary to participate in a managerial capacity in the analysis of accounting information as it is used to facilitate and enhance decision making, accountability and control. Ethical implications of decisions are considered throughout the subject. The subject covers areas in both financial and management accounting, including the preparation and examination of accounting reports for partnerships and companies, the development of relevant cost concepts used in cost systems, and the use of this information in performance evaluation. A computer software package is used in the review and presentation of accounting information.

Subject objectives/outcomes

On 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. understand and further demonstrate analytical skills in problem solving and quantitative skills in fundamental accounting processes and issues.
3. demonstrate skills in the processing of accounting information and preparation of financial statements in a manual and computer based environment.
4. apply a computer software package in the application of accounting concepts and principles to the analysis and presentation of accounting information.
5. develop an awareness of the ethical issues facing the accounting profession and understand the ethical framework in which accounting operates.
6. prepare and report accounting information according to generally accepted accounting principles.
7. effectively communicate accounting information in a business context

Contribution to graduate profile

This subject contributes to the Bachelor of Business program by providing students with the accounting knowledge to understand the principles of accounting they require to continue their accounting studies. It focuses on the development of a vocationally relevant understanding of accounting generally, fundamental accounting processes and issues, as well as critical, analytical and quantitative skills. They will be 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.

Teaching and learning strategies

The subject is taught in large lectures and smaller tutorial. The lectures provide the structure of the topic area, discussion of the theory and some practical examples. Tutorials provide an opportunity to discuss ideas, ethical issues and make practical application of the theory. Extensive use is made of UTSOnline, The computer assignment extend students' self-directed learning.

Content

• Using and Preparing Accounting Information
• Internal Control and Cash
• Accounting for Current & Non-Current Assets
• Accounting for Current and Non-Current Liabilities
• Different forms of business: partnerships, companies
• Accumulating cost information including activity based costing
• Accounting information as inputs to management decisions; relevant costing, variances

Assessment

Evaluation will be in terms of students meeting objectives 1, 2, 3, 4, 5, 6 and 7.

This will test students' understanding of the subject material covered in the course to the date of the exam. It will enable students to demonstrate they have met objectives 1, 2, 3, 5 and 6.

This will test students' understanding of the subject material covered in the course. It will enable students to demonstrate they have met objectives 1, 2, 3, 5 and 6.

Examinations will be conducted under University Examination conditions, and hence thoroughly address secure assessment concerns. Individual handed in work will be collected randomly, which makes it difficult for students submit work that is not their own.

Recommended text(s)

Pazmandy, G. (2004) MYOB Version 13 A Practical Guide to Computer Accounting , Tekniks Publications Pty. Limited, Sydney, Australia.

Horngren, C., Harrison, W., Bamber L., Best, P., Fraser, D. and Willett R. (2004) Accounting 4th edition, Sydney, Pearson publishing, Australia.

References:

CPA Australia and the Institute of Chartered Accountants in Australia 2004. Accounting Handbook 2004. Sydney: Pearson Publishing, Australia.

Hoggett, J. and Edwards, L. (2004) Accounting in Australia. 5th edition, Brisbane, John Wiley & sons.