ACCOUNTING FOR MANAGERS

ACC5AFM

2015

Credit points: 15

Subject outline

This subject is designed to provide students with the necessary skills to be preparers and informed users of financial accounting information for decision-making. The course covers the preparation of basic financial statements and analysis and interpretation of the information contained within the financial statements. The subject also provides an introduction to managerial or cost accounting practises and the managerial tools they provide.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorSusan Greer

Available to Study Abroad StudentsNo

Subject year levelYear Level 5 - Masters

Exchange StudentsNo

Subject particulars

Subject rules

PrerequisitesN/A

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsN/APrescribedTBAN/A

Graduate capabilities & intended learning outcomes

01. Understand the accounting environment, the nature of financial accounting information, its users and uses, the types of business entities and the assumptions on which accounting is based.

Activities:
1. Explain the nature and purpose of accounting, both financial and management accounting practices. 2. Identify the principal users of accounting information and their information needs. 3. Discuss the various forms of business organisation. 4. Distinguish between cash-based and accrual-based accounting systems. 5. Discuss the conceptual framework and generally accepted accounting principles (GAAP).

02. Appreciate the nature of assets, liabilities, owners# equity, revenues and expenses and the principal financial statements.

Activities:
1. Identify and discuss the nature, types and classifications of assets, liabilities, owners# equity, revenues and expenses. 2. Explain the functions of the financial statements.

03. Analyse and record transactions in a simple accounting system.

Activities:
1. List the rules of debit and credit and explain the double entry recording system. 2. Explain and account for the stages of the accounting cycle: # Analysis of transactions; # Journalise transactions; # Post journal entries to ledger; # Prepare various trial balance(s); and # Journalise and post end of period adjusting and closing entries.

04. Prepare basic financial reporting statements: Income Statement, Statement of Changes in Equity, Balance Sheet and Cash Flow Statement

Activities:
Complete the accounting cycle and prepare correctly classified financial statements.

05. Apply specific accounting practices to particular categories of current assets (inventories, cash, and receivables) and non-current assets.

Activities:
1. Discuss the nature and types of current and non-current assets. 2. Account for current assets (cash, receivables and inventories). 3. Discuss control issues for cash and receivables. 4. Account for non-current assets (purchase, maintenance, improvement, sale, depreciation).

06. Discuss and account for liabilities and equity.

Activities:
1. Discuss the nature and types of liabilities. 2. Account for liabilities and equity

07. Analyse financial information and critically examine taken-for-granted assumptions and about accounting and its association with organisational and economic activity

Activities:
1. Critically discuss the objectives of accounting, and the nature and uses of financial accounting information. 2. Apply basic tools and techniques of financial statement analysis. 3. Discuss results of FSA for various users of financial statements.

Subject options

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Start date between: and    Key dates

Melbourne, 2015, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorSusan Greer

Class requirements

Lecture Week: 10 - 22
One 2.0 hours lecture other recurrence on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

Tutorial Week: 10 - 22
One 1.0 hours tutorial other recurrence on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
Mid-semester testA selection of tasks drawn from: quizzes, written tasks and participation.25 01, 02, 03, 04, 05, 06, 07
Tutorial assessment tasks15 01, 02, 03, 04, 05, 06, 07
one 3-hour final examination60 01, 02, 03, 04, 05, 06, 07

Melbourne, 2015, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorSusan Greer

Class requirements

Lecture Week: 31 - 43
One 2.0 hours lecture other recurrence on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Tutorial Week: 31 - 43
One 1.0 hours tutorial other recurrence on weekdays during the day from week 31 to week 43 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
Mid-semester testA selection of tasks drawn from: quizzes, written tasks and participation.25 01, 02, 03, 04, 05, 06, 07
Tutorial assessment tasks15 01, 02, 03, 04, 05, 06, 07
one 3-hour final examination60 01, 02, 03, 04, 05, 06, 07