ACCTING 2502 - Accounting Method
North Terrace Campus - Semester 2 - 2020
General Course Information
Course Code ACCTING 2502 Course Accounting Method Coordinating Unit Adelaide Business School Term Semester 2 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Prerequisites ACCTING 1002, Corequisites CORPFIN 1002 Incompatible ACCTING 1005 Course Description This course extends the understanding of the method of double-entry accounting. It is designed to provide students with advanced accounting skills required to be able to prepare classified financial statements (in particular the Income Statement and the Balance Sheet) from initial transactions through to adjusting entries and next period entries. In addition are specific topics including inventories, accounts receivables, non-current assets, liabilities and equity. There is an emphasis on the understanding of the connection between topics and the Framework for the Preparation and Presentation of Financial Statements and relevant accounting standards (AASBs).
Course Coordinator: Dr Max Bessell
The full timetable of all activities for this course can be accessed from Course Planner.
Course Learning Outcomes
On successful completion of this course, students will be able to:1. Demonstrate the nature and processes of accrual accounting and demonstrate the accounting processes from initial transactions through to preparing the Income Statement and Balance Sheet.
2. Demonstrate a comprehensive and applied knowledge of accounting for GST, equity, inventories, accounts receivable, non-current assets and liabilities.
3. Prepare a Statement of Changes in Equity.
4. Examine the Framework for the Preparation and Presentation of Financial Statements and accounting standards (AASBs) as they relate to the topics covered.
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)
1,2,3,4 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
1,2,3,4 Career and leadership readiness
- technology savvy
- professional and, where relevant, fully accredited
- forward thinking and well informed
- tested and validated by work based experiences
Required ResourcesHoggett, J, Medlin, J., Chalmers, K., Beattie, C., Hellmann, A. & Maxfield, J. 2018. Financial Accounting, Wiley, Milton, Queensland, 10th edition.
Learning & Teaching Activities
Learning & Teaching ModesThe course is delivered through a mixture of online and face to face delivery. Topics 1, 2, 3, 4, 6 and 7 are online where the lecture time becomes interactive applied sessions. Topics 5, 8 and 9 use the traditonal lecture approach. All topics are supported by worked tutorial questions/solutions. The tutes time are used to provide formative assessment where students are provided with exam type questions/solutions.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.The amount of work required in the course should not be underestimated. Students need to be organsied in the manner of their learning and ensure that they understand the application of knowledge. This is particulary relevant for the online deliveries where students need to be proactive with their learning and ensure that they keep up to date.
Learning Activities SummaryIntroductory Accounting I (or its equivalent) is a pre-requisite for this course. Students who have enrolled in Accounting Methods but have not met the prequisite will be removed from the Accounting Methods II.
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Task Weighting Learning Outcome An online test on Inventory of 10% each. 10% 2, 4 Assignment/s of a total of 10% 10% 1,2 Mid term test (redeemable) 10% 1 Final exam 70% All Total 100%
Assessment DetailMid Semester Test - 10%
This covers Topics 1-4 (incl) undetaken online.
This test is redeemable and if the percentage grade is lower than that obtained in the final exam the final exam weighting will be increased to 80%. To qualify for this the student must sit and undertake the mid semester test. A student cannot opt out of the mid semester test and then seek to have the final exam weighted to 80%.
Online Test - 10%
This covers Inventories and is held Online.
Assignment/s - 10%
This will address issue under the Equity topic.
Final Exam - 70%
The entire course may be subject to assessment in the Final Exam.
SubmissionAll assessment is to be undertaken or submitted through MyUni.
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.
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.
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