ACCTING 1005 - Accounting Method I

North Terrace Campus - Semester 1 - 2016

This course is an introduction to the method of double-entry accounting in a manual accounting system. The course is designed to provide accounting students with the basic book-keeping skills required to be able to prepare classified financial statements. The course provides the students with an understanding of the accrual accounting process from basic transaction analysis through to the completion of the accounting cycle. To assist in the understanding of the concepts identified, specific topics including retailing and inventory costing, non-current assets, and partnerships will be studied. Students will also be introduced to computerised accounting through a MYOB based practice set.

  • General Course Information
    Course Details
    Course Code ACCTING 1005
    Course Accounting Method I
    Coordinating Unit Adelaide Business School
    Term Semester 1
    Level Undergraduate
    Location/s North Terrace Campus
    Units 3
    Contact Up to 4 hours per week
    Available for Study Abroad and Exchange Y
    Prerequisites ACCTING 1002
    Restrictions Available to B Com students only - students outside of the program must seek approval from the Course Coordinator
    Assessment Exam/assignments/tests/tutorial work as prescribed at first lecture
    Course Staff

    Course Coordinator: Dr Tony McMurtrie

    Course Tutor

    Ms Nicole Moschakis
    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

    The University expects full-time students (ie those taking 12 units per semester) to devote a total of 48 hours per week to their studies. Students in this course, you are expected to attend all
    lectures throughout the semester plus one tutorial class and one workshop each week.

    Lectures

    Students are required to attend 2 lectures each week. Lectures are held 3:10 pm on Tuesday
    and at 2:10pm Wednesday in the Chapman Lecture Theatre.

    Lectures commence on Tuesday 3 March.
  • Learning Outcomes
    Course Learning Outcomes
    1. Identify and Define the Elements of the Financial Statements   

    2. Distinguish between cash and accrual accounting systems           

    3. Journalise and post accounting transactions using accrual accounting      

    4. Prepare financial reports from the recorded transactions       

    5. Prepare Financial Information using a computerised accounting package             

    6. Understand and apply various methods of accounting for assets, liabilities and equity           
      


    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    All
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    6
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    5
  • Learning Resources
    Required Resources
    Text Book

    Horngren, C., W. Harrison, S. Oliver, P Best, D Fraser, R Tan, and R Willet,  2012, Financial
    Accounting, 7th Ed,  Pearson, Frenchs Forrest (referred here as Horngren)

    AASB Framework – Available on MyUni

    Handbook of the Code of Ethics for Professional Accountants Sections 110 – 150 – Available on MyUni


    Online Accounting Practice Set

    Perdisco On Line MYOB practice set. Available directly from Perdisco. Purchase details will be explained in Lecture 1

     

    MyAccontingLab Access code.

     
    This code can be purchased with the text book package or separately from the book store. You will need this code to access the online element of this course to be able to complete the homework tasks.

    When you have obtained your MyAccountingLab code you will need to log into MyAccounting lab using the link in MuyUni

    You will see several book options. Make sure you choose the correct one “Financial Accounting” by Horngren et al.
    Online Learning
    Students are required to obtain access to the online resources attached to the text book through the MyAccountingLab system

    MyAccontingLab Access code.

    This code can be purchased with the text book package or separately from the book store. You will need this code to access the online element of this course to be able to complete the homework tasks.When you have obtained your MyAccountingLab code you willneed to log into the link provided on MyUni


  • Learning & Teaching Activities
    Learning & Teaching Modes
    Students in this course, you are expected to attend all lectures throughout the semester plus one tutorial class each week.
    Please refer to Access Adelaide for your timetable and enrolment details

    (http://www.adelaide.edu.au/access/)

    Lectures

    Students are required to attend 2 lectures each week. Lectures are held 3:10 pm on Tuesday
    and at 4:10pm Wednesday in the Chapman Lecture Theatre. The lecture schedule will be available on MyUni

    Lectures commence on Tuesday 1 March.

    Tutorials

    Tutorials will commence in week 2. The schedule of questions will be available on MyUni

    Online

    Several lecture modules will be delivered on line and no face to face lecture will be provided. Details relating to these online modules will be provided in lectures and via MyUni
    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    The University expects full-time students (ie those taking 12 units per semester)
    to devote a total of 48 hours per week to their studies. 
    Learning Activities Summary

    No information currently available.

    Specific Course Requirements
    The pre-requisites for this course is Accounting For Decision Makers 1 or its equivalent.  Any student who has not passed ADM will be removed from the course

    Students who have achieved an overall grade of 50% or better BUT DID NOT ACHIVE 50% IN THE INVIGILATED ASSESSMENT COMPONENTS  will be awarded a mark of 49.
    Small Group Discovery Experience
    The objective of the SDGE is to help students understand how to identify what a question is asking  and to use these skills to investigate a contemporary accounting issue.

    This exercise forms the beginning of a scaffolded program that will feed through to a final year capstone for acct and finance students.

    Groups will be established during the first few weeks of tutorials. Students will be allocated rather than self-select. Groups will be aprox 5-6 students (4 per each tute group) Each group will be provided with an accounting issues question that they will eventually address.

    The first part of the experience is designed to help them identify what the question is actually asking them. During this phase groups will be provided with an accounting problem, probably in relation to a newspaper article etc, and a problem/question related to that article. They will be required to develop an understanding of what the question in asking them, developing this
    through researching the material needed and  using a Wiki to communicate with each other.

     The product of this phase will be a demonstration of a clear understanding of what the question is asking and a framework in which the question could be answered.
     
    Discussion around this outcome will occur with an academic in tutorial settings – including students presenting their findings. One week’s tutorials in the first half of the semester will be given up for this. These group discussions in the tutorial will be with the senior academic.

    Students will then need to undertake research together, once again developing a Wiki answer that addresses the actual question posed. The findings will be presented in a tutorial in week 13.

  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Notes on Assessment

    Assessment for this course will be a combination an online practices set, online tests and invidualted tests and exams.

    Full details will be advised in the 1st lecture and published on the MyUni site.

    Assessment Detail
    Students in this course aqre required to complete the following assessment:


    Exam – 60%

    3 hour closed book exam

    Will be a mixture of accounting practice and theory

    Must obtain 50% exam as well as
    50% overall to pass the course

    On Line Practice set – 20%

    —On Line Tests – 10%

    Mid Semester Test – 10%


    Details regarding due dates and submission requirments etc will be provided on MyUni and during the first lecture
    Submission

    No information currently available.

    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.