ACCOUNTING FOR MANAGERS
ACC5AFM
2018
Credit points: 15
Subject outline
This subject aims to provide you with the necessary postgraduate skills to be preparers and informed users of financial accounting information for decision-making. The subject
- provides an understanding of the accounting concepts, principles and practices that are fundamental to the preparation and use of standard accounting information.
- aims to develop student awareness of the ethical. professional, organisational and social contexts with in which accounting is practiced.
SchoolLa Trobe Business School
Credit points15
Subject Co-ordinatorLachlan McDonald-Kerr
Available to Study Abroad StudentsYes
Subject year levelYear Level 5 - Masters
Exchange StudentsYes
Subject particulars
Subject rules
PrerequisitesN/A
Co-requisitesN/A
Incompatible subjectsN/A
Equivalent subjectsN/A
Special conditionsN/A
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Financial Accounting: Reporting, Analysis and Decision Making 5th Edition | Prescribed | Shirley Carlon, Rosina Mcalpine # Mladenovic, Chrisann Palm, Lorena Mitrione, Ngaire Kirk and Lily Wong. 2016 | John Wiley & Sons Australia Ltd. |
Graduate capabilities & intended learning outcomes
01. Understand the accounting environment, the nature of accounting information and its users and uses. Examine the guiding principles upon which accounting is based
- Activities:
- 1. Explain the nature, purpose and uses of accounting. 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).
- Related graduate capabilities and elements:
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
02. Appreciate the nature of assets, liabilities, owners' equity, revenues and expenses and the forms of reporting accounting information.
- 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.
- Related graduate capabilities and elements:
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
03. Record straightforward business transactions in an 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: 3. Analysis of transactions; 4. Journalise transactions; # Post journal entries to ledger; # Prepare various trial balance(s); and # Journalise and post end of period adjusting and closing entries.
- Related graduate capabilities and elements:
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
04. Produce a set of financial statements from financial data.
- Activities:
- Complete the accounting cycle and prepare correctly classified financial statements.
- Related graduate capabilities and elements:
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
05. Discuss and account for specific types of 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).
- Related graduate capabilities and elements:
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
06. Discuss and account for specific types of liabilities and equity.
- Activities:
- 1. Discuss the nature and types of liabilities. 2. Account for liabilities and equity
- Related graduate capabilities and elements:
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
07. Explain and critique some of the conventions underlying accounting. Develop student awareness of alternative forms of accounting.
- Activities:
- 1. Critically discuss the objectives of accounting, and the nature and uses of financial accounting information. 2. Explain and critique forms of social accounting, such as sustainability reporting.
- Related graduate capabilities and elements:
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills (Writing,Speaking,Quantitative Literacy)
- Inquiry and Analytical Skills (Critical Thinking)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
- Personal and Professional Skills (Teamwork including leadership and working in groups,Study and Learning Skills)
Subject options
Select to view your study options…
Melbourne, 2018, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorLachlan McDonald-Kerr
Class requirements
Lecture
Week:
10
-
22
One 2.0 hours lecture per week
on weekdays
during the day
from week 10 to week 22
and delivered via face-to-face.
Tutorial
Week:
11
-
22
One 1.0 hours tutorial per week
on weekdays
during the day
from week 11 to week 22
and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Mid-semester test (1-1.5 h) | 25 | 01, 02, 03, 04 | |
| Tutorial assessment tasks | A selection of tasks drawn from: quizzes, written tasks and participation. Equivalent to 500 words per student. | 15 | 01, 02, 03, 04, 05, 06 |
| one 3-hour final examination | 60 | 01, 02, 03, 04, 05, 06, 07 |
Melbourne, 2018, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorLachlan McDonald-Kerr
Class requirements
Lecture
Week:
31
-
43
One 2.0 hours lecture per week
on weekdays
during the day
from week 31 to week 43
and delivered via face-to-face.
Tutorial
Week:
32
-
43
One 1.0 hours tutorial per week
on weekdays
during the day
from week 32 to week 43
and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Mid-semester test (1-1.5 h) | 25 | 01, 02, 03, 04 | |
| Tutorial assessment tasks | A selection of tasks drawn from: quizzes, written tasks and participation. Equivalent to 500 words per student. | 15 | 01, 02, 03, 04, 05, 06 |
| one 3-hour final examination | 60 | 01, 02, 03, 04, 05, 06, 07 |
Sydney, 2018, Study Period 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorLachlan McDonald-Kerr
Class requirements
Lecture
Week:
31
-
42
One 2.0 hours lecture per week
on weekdays
during the day
from week 31 to week 42
and delivered via face-to-face.
Tutorial
Week:
31
-
42
One 1.0 hours tutorial per week
on weekdays
during the day
from week 31 to week 42
and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Mid-semester test (1-1.5 h) | 25 | 01, 02, 03, 04 | |
| Tutorial assessment tasks | A selection of tasks drawn from: quizzes, written tasks and participation. Equivalent to 500 words per student. | 15 | 01, 02, 03, 04, 05, 06 |
| one 3-hour final examination | 60 | 01, 02, 03, 04, 05, 06, 07 |
Sydney, 2018, Study Period 3, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorLachlan McDonald-Kerr
Class requirements
Lecture
Week:
46
One 2.0 hours lecture per week
on weekdays
during the day
in week 46
and delivered via face-to-face.
Tutorial
Week:
46
One 1.0 hours tutorial per week
on weekdays
during the day
in week 46
and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Mid-semester test (1-1.5 h) | 25 | 01, 02, 03, 04 | |
| Tutorial assessment tasks | A selection of tasks drawn from: quizzes, written tasks and participation. Equivalent to 500 words per student. | 15 | 01, 02, 03, 04, 05, 06 |
| one 3-hour final examination | 60 | 01, 02, 03, 04, 05, 06, 07 |
Sydney, 2018, Study Period 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorLachlan McDonald-Kerr
Class requirements
Lecture
Week:
10
-
22
One 2.0 hours lecture per week
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 per week
on weekdays
during the day
from week 10 to week 22
and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| Mid-semester test (1-1.5 h) | 25 | 01, 02, 03, 04 | |
| Tutorial assessment tasks | A selection of tasks drawn from: quizzes, written tasks and participation. Equivalent to 500 words per student. | 15 | 01, 02, 03, 04, 05, 06 |
| one 3-hour final examination | 60 | 01, 02, 03, 04, 05, 06, 07 |