22515 Accounting for Decision Making
Warning: The information on this page is indicative. The subject outline for a
particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2018 is available in the Archives.
Credit points: 6 cp
Subject level:
Undergraduate
Result type: Grade and marksAnti-requisite(s): 21642 Accounting Skills for Managers AND 22107 Accounting for Business Decisions A
Description
The subject is intended to prepare students to understand and use accounting information for decision support, in the form of analysing historical operations and planning future business activity. This subject aims to expose students to the nature and use of accounting information as used by management and the many diverse stakeholders associated with the organisation in their decision making activities. As such, this subject enhances student knowledge as to how accounting enhances knowledge and intelligence about all aspects of business operations.
Subject learning objectives (SLOs)
| 1. | Understand and use the language of business as interpreted by the application of accounting concepts and techniques used to measure and report on business activity |
|---|---|
| 2. | Apply Financial Accounting techniques to measure and interpret areas of business activity as disclosed by the main financial statements, including Balance Sheet, Income Statement and cash Flow Statement |
| 3. | Explain the role of Management Accounting and the information products generated as financial and operational inputs into the decision making process for planning and controlling business operations |
| 4. | Use accounting information and business support systems to monitor operations, confront challenges and opportunities affecting the business |
Contribution to the development of graduate attributes
Accounting processes and practice are used by all organisations (profit, not for profit, government, etc.,) to measure and report the results of business / economic activity between the firm and its stakeholders. Further it forms the basis of the financial information system for the analysis of past operations and the planning of future business activity.
Familiarity with the language of accounting, its processes and conventions are an essential prerequisite for anybody contemplating a career in business. As such, the overriding objective of this subject is to develop skills that enable the utilisation of the information products generated by the accounting information system.
Further, given that accounting information is central to the management of small and medium enterprises (SMEs), this unit, as a component of the business innovation and financial management sub-major, exposes students to the methods used by SMEs to process and report accounting data to management and external authorities.
Teaching and learning strategies
Teaching and learning strategies include lectures, tutorials and group discussions. As the subject will make extensive use of computer based resources for teaching and assessment, it is proposed to hold classes in computer laboratories, or alternately require students to have access to online resources during scheduled class times. Content for this subject will be supported by online learning modules in UTS Online.
Content (topics)
- Accounting the language of Business
- Financial Statements
- Financial Accounting – Processing Business Transactions
- Financial Statement Analysis
- Pricing and Product Costing
- Budgeting and Profit Planning
- Accounting information and short-term decision analysis
- Accounting information and long-term decision analysis
Assessment
Assessment task 1: Project Seminar (Group)
| Objective(s): | This addresses subject learning objective(s): 1, 2 and 4 |
|---|---|
| Weight: | 30% |
Assessment task 2: In-Class / On-Line Tests (Individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 |
|---|---|
| Weight: | 40% |
Assessment task 3: Major Project (Individual)
| Objective(s): | This addresses subject learning objective(s): 1, 3 and 4 |
|---|---|
| Weight: | 30% |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
Shepherd, R. et al (2015), Accounting and Business Information, LearnNow Publications, NSW, Australia
Other resources
Atrill, P. et al, (2015), Accounting, an introduction, 6th Edition, Pearson Australia, Frenchs Forest, NSW.
Horngren, C.T. et al, (2013), Accounting, 7th Edition, Pearson Australia, Frenchs Forest, NSW.
On Line Resources
www.yahoo.comn/finance
http://www.google.com/finance
UTS Library Databases – Business – Accounting – DatAnalysis Premium
