22788 Accounting Practices and Tools
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 2021 is available in the Archives.
Credit points: 3 cp
Subject level:
Postgraduate
Result type: Grade and marksThere are course requisites for this subject. See access conditions.
Anti-requisite(s): 220788 Accounting Practices and Tools AND 22747 Accounting for Managerial Decisions AND 22800 Understanding Accounting and Financial Reports
Description
This subject offers a solid financial accounting and management accounting grounding to candidates. This knowledge allows candidates to understand the financial opportunities and challenges inherent in any business endeavour. Students subsequently better understand the position and performance of initiatives undertaken in the context of the broader strategies and objectives of an organisation. Such an understanding helps students make critical cost–benefit trade-offs.
Subject learning objectives (SLOs)
| 1. | demonstrate an understanding of the development of financial statements |
|---|---|
| 2. | investigate and analyse financial statements in practice |
| 3. | apply financial ratios for purposes of understanding and synthesizing business position and performance |
| 4. | apply a range of management accounting techniques to generate and evaluate complex ideas and concepts to improve decision making |
Contribution to the development of graduate attributes
The subject introduces students to a range of accounting practices, tools and techniques, and how these can be applied to address complex business challenges and opportunities.
This subject contributes to the development of the following graduate attributes:
- GA1. Business knowledge and concepts – be able to operate effectively with business knowledge of sufficient depth in different professions, industry and society, both locally and globally.
- GA2. Critical thinking, creativity and analytical skills – be able to apply and demonstrate critical and analytical skills and innovation in business practice.
This subject develops the following Program Learning Objectives for the Advanced Master of Business Administration:
- Demonstrate advanced knowledge and understanding of key business concepts and practices (1.1)
- Analyse relationships between different types of data sets to gain insights to complex business challenges (2.1)
Teaching and learning strategies
- Face-to-face teaching with student tasks to be completed in advance of class attendance
- Student presentations to facilitate engagement and class discussions.
- Online learning via quizzes.
- Materials will be provided via the teaching management system for students to prepare prior to attending classes.
Content (topics)
- Financial statements – Profit and Loss Statement and Balance Sheet
- Financial statements – Cash flows
- Analysing position and performance next to strategy – strategic ratio analysis
- Understanding and budgeting fixed and variable costs in organisations
- Cost Volume Profit Analysis
- Relevant costing and tactical pricing
Assessment
Assessment task 1: Performance and ratio analysis and insights
| Intent: | This develops Program Learning Objective/s – 2.1 |
|---|---|
| Objective(s): | This addresses subject learning objective(s): 3 and 4 |
| Type: | Report |
| Groupwork: | Individual |
| Weight: | 50% |
Assessment task 2: In-class case analysis and discussion
| Intent: | This develops Program Learning Objective/s – 1.1 and 2.1 |
|---|---|
| Objective(s): | This addresses subject learning objective(s): 1, 2, 3 and 4 |
| Type: | Case study |
| Groupwork: | Individual |
| Weight: | 50% |
Minimum requirements
Students must achieve at least 50% of the subject’s total marks and complete both assessments.
Recommended texts
Please note: There is no textbook that is required for this subject. However, the following texts are all excellent sources for introductory accounting information.
Horngren's Accounting (8e) Nobles. T., Brenda Mattison, Ella Mae Matsumura, Peter Best, David Fraser, Rebecca Tan, Roger Willett, 2015, Pearson Education
References
Birt, J., KerynChalmers, Suzanne Maloney, Albie Brooks, Judy Oliver (2017) Accounting: Business Reporting For Decision Making 6th Edition, Wiley.
Carlon, S., Rosina McAlpine-Mladenovic, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong, (2016) Financial Accounting: Reporting, Analysis and Decision Making 5th Edition.
Wiley Hoggett, J., Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield (2015) Accounting, 9th Edition, Wiley.
Tyler, J., Godwin,N. and Alderman, C., (2016) ACCT2 Financial: 2nd Asia-Pacific Edition, Cengage.
Sivabalan, P., Sawyers, R., Jackson, S. and Jenkins, G., (2016) ACCT2 Managerial: 2nd Asia-Pacific Edition, Cengage.