University of Technology Sydney

22107 Accounting for Business Decisions A

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 2022 is available in the Archives.

UTS: Business: Accounting
Credit points: 6 cp

Subject level:

Undergraduate

Result type: Grade and marks

There are course requisites for this subject. See access conditions.
Anti-requisite(s): 22105 Accounting A

Description

This subject introduces students to accounting and provides the ability to understand accounting principles and apply them to the production and interpretation of financial reports for external parties and management. It considers the business environment and the place of accounting in the private and public sectors.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. appraise the role of accountants and accounting information in the business environment
2. apply accounting information in external and internal decision contexts of a business
3. demonstrate analytical skills needed to process accounting information; prepare internal and external financial statements and be able to interpret accounting reports
4. evaluate basic business information provided in the popular media.

Contribution to the development of graduate attributes

Business success is almost always measured, at least partially, in accounting terms. It is the accountants who undertake this measurement. Many decisions in business are made based on accounting information, both historical (financial accounting) and projected expectations (management accounting). Understanding accounting as a systematic way of measuring and communicating this information on the financial status of various and future expectations of business entities is the foundation for any successful career in both the private and public business sectors.

The objective of this subject is based on the premise that in business, accounting information is used for decision-making. Thus familiarity with accounting concepts, processes, reports and analysis is important. This subject equips students with the basic knowledge and skills to deal with the accounting information in the business environment and is also a foundation for further study in accounting. The subject also provides the opportunity for students to develop skills concerning the communication and dissemination of accounting information.

This subject contributes to the development of the following graduate attributes:

  • Business knowledge and concepts
  • Attitudes and values
  • Business practice oriented skills

This subject also contributes specifically to introduce the learning required to deliver the following Program Learning Objectives:

  • PLO 1.1 critically analyse relevant concepts to understand practice in business and related professions in a global workplace
  • PLO 4.1 critically analyse business decisions in terms of ethical practice and social responsibility
  • PLO 5.1 apply technical and professional skills necessary to operate effectively in business and related professions

Teaching and learning strategies

The subject is taught via interactive workshops (either on campus or via interactive videos) and tutorials. The workshop videos provide the structure of the topic area, discussion of the theory, some practical examples and the opportunity for students to answers a range of questions where they will receive feedback. The tutorials provide an opportunity to discuss ideas and ethical issues, and make practical application of the theory. Extensive use is made of UTS Canvas, with all material posted electronically and a discussion board providing a response within 24 hours. Tutorial guides are available to extend students' self-directed learning..

Content (topics)

  • The use of accounting information
  • Financial accounting: Recording accounting transactions, adjusting entries, preparation and interpretation of financial statements
  • Management accounting: cost behavior, CVP analysis, introduction to budgeting, relevant costing and decision making
  • Ethics and accounting

Assessment

Assessment task 1: Option A: Mid-Session Exam and Final Exam

Intent:

Option A comprises a Mid-Session Exam: 40% and a Final Exam: 60%
Objective(s):

This addresses subject learning objective(s):

1, 2, 3 and 4

Assessment task 2: Option B: Tutorial Participation, Mid-Session and Final Examination

Intent:

Option B comprises a Class Mark: 10%, a Mid-Session Exam: 30% and a Final Exam: 60%
Objective(s):

This addresses subject learning objective(s):

1, 2, 3 and 4

Assessment task 3: Screencast assignment (optional)

Intent:

This is an optional assessment comprising 10 bonus marks (extra credit)
Objective(s):

This addresses subject learning objective(s):

3

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Required texts

1) Tyler, J., Godwin, N. and Alderman, C., ACCT3 Financial: 3rd Asia Pacific Edition, Cengage, 2018 and Sivabalan, P., Wakefield, J., Sawyers, R., Jackson, S. and Jenkins, G., ACCT3 Management: 3rd Asia Pacific Edition, Cengage, 2018.

To purchase the textbook pack (including both books) you can go to the following link (it is recommended you buy ebooks to avoid delays in waiting for hard copies):

2) Barron, M.L. Fundamentals of Business Law UTS CUSTOM, McGraw Hill. ISBN 9781743761250 (ebook available via the UTS library - DO NOT purchase).

Recommended texts

UTS Business School, Guide to Writing Assignments, University of Technology, Sydney,

http://www.uts.edu.au/node/50946/

References

CPA Australia or The Institute of Chartered Accountants in Australia (2017), Accounting Handbook 2017, Sydney: Pearson or John Wiley

CPA Australia or the Institute of Chartered Accountants in Australia (2017), Auditing and Assurance Handbook 2017, Sydney: Prentice Hall or John Wiley

Birt, J., Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver Accounting: Business Reporting For Decision Making 6th Edition, 2017, Wiley

Birt, J., Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver Accounting: A Business Planning and Control Approach 2017, Wiley E-Text

Carlon, S., Rosina McAlpine-Mladenovic, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong, Financial Accounting: Reporting, Analysis and Decision Making 5th Edition 2016, Wiley

Hoggett, J., Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield Accounting, 9th Edition 2015, Wiley

Horngren's Accounting (8e) Nobles. T., Brenda Mattison, Ella Mae Matsumura, Peter Best, David Fraser, Sydney, Rebecca Tan, Roger Willett, 2015, Pearson Education.

Trotman, K., Elizabeth Carson, Michael Gibbins, Financial Accounting: An Integrated Approach, 2016, Edition 6, 2015, Cengage Learning Australia

Journals and Business Publications

  • Abacus
  • Accounting & Finance
  • Accounting Review
  • Accounting & Business Research
  • The Australian Accountant
  • Australian Accounting Review
  • Charter
  • CA Magazine
  • Cost & Management
  • Journal of Accounting and Economics
  • The Journal of Accountancy
  • Business Review Weekly
  • Australian Financial Review
  • Sydney Morning Herald
  • Business Reports on Free-to-air Nightly News Programs

This is but a small sample of the relevant journals in the area of accounting and finance. They are published by professional bodies such as The Australian CPA by CPA Australia or the Accounting Review by the American Accounting Association. The Accounting and Finance Association of Australia and New Zealand also publishes a journal called Accounting and Finance. The course will also refer to the AASB series. AASB refers to the series of standards approved by the Accounting Standards Review Board, a body established by the Companies Act & Codes to approve accounting standards for companies. Students are strongly encouraged to read the daily financial press, the business section of the Sydney Morning Herald (SMH) is ideal. Weekly publications such as Business Review Weekly are also excellent. Online videos are also available, see the ABC News - Business in 90 Seconds website for daily business news reports. Students are encouraged to take a keen interest in current business developments.