Introductory Accounting has 1 x 2 hour lecture per week per student.

In addition the course also contains one weekly 1 hour tutorial per student. Tutorials begin in the second week of the semester and finish in week 12.

Knowledge of accounting is a vital skill for everyone. Basic financial literacy is essential in managing one’s own private finances but is also extremely important in any organisation. Many people feel that because they are planning to pursue a career in something other than accounting, the study of that subject is not relevant to them. However, the great majority of decisions in any type of organisation (whether ‘for profit’ or ‘not-for-profit’) have financial implications. For example, someone in the Human Resources section of an organisation will need strong ‘people’ skills but will also have responsibility for the financial budget for the HR section (at a minimum, controlling the costs of that section).

This course is designed to provide students with an understanding of, and competency in, the language and process of accounting so that you can discuss intelligently the financial implications of your future decisions. The course will also emphasise the use of accounting in basic organisational decision making. The overall aims of this course include the following:

• Provide a broad introduction to accounting.
• Introduce the role of accounting and how accounting captures information about the economics of an entity.
• Develop the skills to read and understand Financial Statements
• Develop the skills to identify and record accounting transactions
• Develop the skills to prepare basic financial statements including the Statement of Financial Position, Statement of Comprehensive Income, and Statement of Changes in Equity.
• Enable students to understand the ‘story’ told by financial statements and the implications for the story when different choices are made.
• Develop skills in financial statement analysis
• Explore the use of accounting in internal decision making
• Introduce management accounting concepts including cost behaviour, cost-volume-profit analysis, product costing, budgeting and performance management.
• Develop skills in applying management accounting techniques to assist in decision making

On successful completion of this course, students will be able to:

1. Explain the key concepts that underpin the preparation of general purpose financial reports
2. Analyse and interpret financial statements
3. Evaluate the accounting information needs of management
4. Understand and apply key principles of budgeting
5. Apply various management accounting techniques to analyse decisions faced by management

Textbook

This course will utilise the following two textbooks (which are bundled in a package):

Tyler, J, Godwin, N and Alderman, CW
ACCT3 Financial,
3rd Asia-Pacific Edition, Cengage Learning, Australia.

Sivabalan, P, Wakefield, J, Sawyers, R, Jackson, S and Jenkins, G,
ACCT3 Managerial,
3rd Asia-Pacific Edition, Cengage Learning, Australia.

The Cengage publisher offers a 10% discount for the textbook. The discount code is: RADELAIDE10
 
The print bundle is available for students to purchase at www.cengagebrain.com.au/isbn/9780170287258
 
The books have an electronic version. The ACCT3 ePack is now available for purchase at
www.cengagebrain.com.au/isbn/9780170288149.
The discount code RADELAIDE10 can be used for this e-version as well.

The textbook is also available at the Co-op bookshop at Adelaide Uni (Hub Central, near Bar Smith Library).

 

This course makes substantial use of the MyUni website. Information that will be available through MyUni include:
· PowerPoint lecture slides
· MyMedia lecture recordings
· Readings
· Assignment information and feedback
· Messages for students
· Other facilities within MyUni will be activated from time-to-time as needed.

You must ensure that you check the MyUni site several times each week for any announcements or new information. It is your responsibility to remain informed about changes in the course and you will be deemed to know of any new information added to the MyUni site.

This course contains two main avenues for learning (apart from assessment). These are:

1. Delivery of 1 x 2 hour lecture per week for each student. These are the primary source of information on a topic. Students should read the relevant section of the textbook to support and expand on the knowledge gained in these lectures.

2. There is a weekly 1 hour tutorial. The aims of the tutorials are threefold; to develop a conceptual understanding of key accounting principles, to review and refine the technical competencies required to perform accounting calculations, and to gain an insight into the implications flowing from accounting information including the financial statements.
During the Tutorials students are free to ask any questions or issues about the topic under consideration. The objective here is to provide a more personalised approach to any problems which students have.
It is expected that each student will actively involve him/herself in the discussion during each tutorial. In general, a good participant will, among other things:
· Take the initiative and lead the discussion on a question; and
· Be prepared to work cooperatively and productively in small groups;

It is not expected that you will always have the “right” answer and, indeed, it should be recognised and understood that valid alternative points of view might well exist on an issue. This does not mean that “anything will do” when trying to find a solution to controversial topics – rather a “good” answer will be one that is grounded in, among other things, references to relevant and valid accounting concepts.

Preparation prior to attending your workshop is vital to your successful completion of this course and if you have not prepared beforehand you will have significant difficulties in understanding what is going on in the tutorial.

The University expects full-time students (i.e., those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that you are expected to commit approximately 9 hours of private study outside of your regular classes.

Students in this course are required to attend all lectures and Tutorials throughout the semester, tutorial preparation and participation will form part of the overall assessment as outlined in the assessment section below.

Topics:

• Introduction to financial accounting
• Financial statements
• Recording accounting transactions
• Cash controls & the statement of cash flows
• Financial Statement analysis
• Introduction to management accounting & ethics
• Budgeting for planning and decision making
• Cost behaviour
• CVP analysis
• Accounting for sustainability
• Course review

The Small Group Discovery Experience strategy of the University is not utilised by this course at present.

The assessment tasks are:

Assessment Task	Weighting	Learning Outcome
Tutorial Participation & Engagement	10%	1, 2, 3, 4 & 5
Mid-Semester Test	15%	1, 2 & 3
Group Assignment	20%	2, 3 & 4
Final Exam	55%	1, 2, 3, 4 & 5
Total	100%

1. To pass the course students must achieve 50% of the overall course assessment. In addition there is requirement to achieve at least 45% in the final exam. Students who achieve an overall course result of 50% or greater but achieve less than 45% in the final exam will be recorded with 49% and be awarded an additional assessment (ie an academic supplementary exam).
2. All assessment tasks are compulsory and none are redeemable.
3. Students are not permitted to submit or use assessment from any previous or other course towards the assessment in this course.
4. Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process. Marks may be deducted in the final examination because of poor hand-writing.
5. Students are permitted to take any calculator into any of the invigilated assessments, including the final exam.
6. The final exam is a closed book exam and no materials are permitted to be taken into the exam except for a calculator referred above.

TUTORIAL PARTICIPATION & ENGAGEMENT -- 10%

These marks will be determined at the end of the module on the basis of:

• Completion of pre class activities
• In class contributions
• Completion of in class activities (including the ability to work cooperatively as part of a team)
• Behaviour and attitudes that foster a positive learning environment
• Engagement with the course in general

Please Note - Students must only attend the tutorial they enrolled in.


MID-SEMESTER TEST -- 15%

The test will cover Topics 1-4. More details will be provided in due course. No materials are permitted except for a calculator.


GROUP ASSIGNMENT -- 20%

Students are to complete the assignment in groups of 3 or 4. All group members must attend the same tutorial class. The Assignment will be submitted electronically through MyUni and further details of the submission process will be advised in due course.

 
FINAL EXAM -- 55%

There will be a three (3) hour final exam. This will be a closed book exam and no materials are permitted except for a calculator.

The Assignments will be submitted electronically through MyUni.  Further details will be provided in due course.