PDF 106KB - Research School of Finance, Actuarial Studies

ANU College of Business and
Economics
Research School of Accounting
Business Information Systems
Mail
Building 26C
Australian National University
Canberra ACT 0200
Building 21
Australian National University
Canberra ACT 0200
Student Office
Room 2.01 (Level 2)
ANUCBE Building 26C
Room 2037 (Level 2)
Hanna Neumann Building 21
Phone:
1300 732 120 (local call cost only)
+61 2 6125 3807
02 6125 0025
+61 2 6125 0025
International
02 6125 0744
+61 2 6125 0744
02 6125 4310
+61 2 6125 4310
Email:
info.cbe@anu.edu.au
enquiries.ABIS@anu.edu.au
Within Australia
International
Fax:
Within Australia
BUSN 7008
Financial Statements and Reporting
Course Description
This course is designed as an introductory accounting course for graduate students, and
provides an introduction to the concepts underlying external financial reporting. The unit
utilises a transaction-effect approach to the preparation of financial statements. The course
examines the main financial statements produced by an accounting system and the process
by which these statements are prepared. The course covers fundamental issues relevant to
the use of accounting information as a decision aid. Contents include accounting concepts,
double entry and accrual systems of accounting, financial statements preparation and
analysis. There are no prerequisites that need to be satisfied. The course assumes no
previous knowledge of accounting.
Semester and Year
Course URL
S1 2015
Mode of Delivery
Prerequisites
Incompatible Courses
Two-hour lecture, and one hour tutorial per week on campus.
N/A
Course Convener
Office Location:
Phone:
Email:
Consultation hours:
Tutors
Student
Administrators
Dr. Lijuan Zhang
Room 3.19, CBE Building 26C
6125 7379
Lijuan.zhang@anu.edu.au
To be advised
To be advised
HN 2037 Hanna Neumann Bldg 21
enquiries.abis@anu.edu.au
6125 0025 or 6125 7968
Office hours : Monday -Friday
9am – 5pm
http://wattle.anu.edu.au/course/BUSN7008
With BUSN1002 Accounting Process and Systems and
BUSN8181 Financial Reporting and Analysis. Students who have
previously studied accounting are encouraged to seek exemption
for BUSN7008 and substitute a higher level accounting course.
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&
COURSE OVERVIEW
Course Learning Outcomes
Upon successful completion of the requirements for this course, students will be able to:
1. Identify the main users of financial accounting reports, and the main purpose for
which information is used;
2. Distinguish between cash and accrual accounting;
3. Distinguish between assets, liabilities, equity, income and expense;
4. Prepare journal entries, post to ledger accounts, and calculate closing balances,
prepare a trial balance, prepare adjusting, reversing and closing entries to collate
corporate financial information;
5. Develop the knowledge and ability to prepare the financial statements for
organisations characterised by moderately complex financial transactions;
6. Analyse financial statements with regard to key aspects of performance.
Research-Led Teaching
Students are encouraged to engage with contemporary financial accounting literature as part
of their course participation and learning activities. ANU provides world class library facilities
so that students have the best access to high quality peer reviewed literature: http:
//anulib.anu.edu.au/
Continuous Improvement
We use feedback from students, professional bodies and staff to make regular
improvements to the course. In response to this feedback, design improvements from the
previous version of the course include:
•
Item 1: Using in-tutorial quizzes instead of the assignment as one of the assessment
items. This is a result of feedback from students requesting that more practices
should be given to support their learning.
•
Item 2: Providing more real world examples for some concepts.
Student Feedback
All CBE courses are evaluated using Student Experience of Learning and Teaching (SELT)
surveys, administered by Planning and Statistical Services at the ANU. These surveys are
offered online, and students will be notified via email to their ANU address when surveys are
available in each course. Feedback is used for course development so please take the time
to respond thoughtfully. Course feedback is anonymous and provides the Colleges,
University Education Committee and Academic Board with opportunities to recognise
excellent teaching and to improve courses across the university. For more information on
student surveys at ANU and reports on feedback provided on ANU courses,
visit http://unistats.anu.edu.au/surveys/selt/students/and http://unistats.anu.edu.au/surveys/s
elt/results/learning/
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COURSE SCHEDULE
Week Summary of Activities
Lecture: Introduction
1
Assessment
Reading: Chapter1
2
3
4
5
6
7
8
9
10
11
12
Lecture: The recording process
Reading: Chapter 2
Tutorial 1 : Introduction
Lecture : Adjusting the accounts
Quiz
Reading: Chapter 3
Tutorial 2: The recording process
Lecture: Accounting systems and processes
--Adjusting the accounts
--Completing the accounting cycle
Reading: Chapter 3&4
Tutorial 3: Adjusting the accounts
Lecture: Accounting for Inventories
Reading: Chapter 5&6
Tutorial 4: Accounting systems and processes
Lecture: Cash and Internal Control / Accounting for receivables Quiz
Reading: Chapter 8 &9
Tutorial 5: Accounting for Inventories
Mid Semester examination
Mid Semester
1
examination
Mid semester teaching break
(Monday 6 April to Friday 17 April)
Lecture: Accounting concepts and principles
/ Financial Statement Analysis
Reading: Chapter 12 &19
Tutorial 6: Cash and Internal Control / Accounting for
receivables
Lecture: Accounting for non-current assets
/Investments
Reading: Chapter 10 &17
Tutorial 7: Accounting concepts and principles
/ Financial Statement Analysis
Lecture: Current liabilities/ Non-current liabilities
Reading: Chapter 11 & 16
Tutorial 8: Accounting for non-current assets/Investments
Lecture : The Cash Flow Statement
Quiz
Reading: Chapter 18
Tutorial: Current liabilities/ Non-current liabilities
Lecture: Companies
Quiz
Reading: Chapter 14 &15
Tutorial 9 : The Cash Flow Statement
13
Lecture: Accounting for partnerships / Course review
Reading: Chapter 13
Tutorial 10: Companies
Semester 1 examination period
(Thursday 4 June to Saturday 20 June)
1
Final
examination
The timing of the mid-semester examination is determined by the examinations section. This information will be
given to students as soon as it is received by the lecturer. Please be aware that the exam may not be in this
week if instructed by the examinations section.
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COURSE ASSESSMENT
Assessment Summary
Item
Title
Value
Due Date
1.
In-Tutorial Quizzes
15%
See Weekly Schedule
2.
Mid-Semester Exam
25%
TBA
3.
Final Examination
60%
Final Exam Period
Linked
Learning
Outcomes
Learning
Outcomes
2-5
Learning
Outcomes
1-6
Learning
Outcomes
1-6
LEARNING OUTCOMES-ASSESSMENT
How well have you achieved the learning outcomes for this course? Your lecturer makes this
judgement based on your quizzes and examination papers. This table illustrates how each
assessment item provides evidence about your achievements against each learning
outcome.
Course Learning Outcomes
Upon successful completion of the requirements for
this course, students will be able to:
1. identify the main users of financial
accounting reports, and the main
purpose for which information is used
2. distinguish between cash and accrual
accounting
3. distinguish between assets, liabilities,
equity, income and expense
4. prepare journal entries, post to ledger
accounts,
and calculate closing
balances, prepare a trial balance,
prepare adjusting, reversing and
closing entries to collate corporate
financial information
5. develop the knowledge and ability to
prepare the financial statements for
organisations
characterised
by
moderately
complex
financial
transactions
6. Analyse financial statements with
regard to key aspects of performance
Tutorial
Quizzes
Mid
Semester
Examinati
on
Final
Examinat
ion
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
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Assessment Task 1: In-Tutorial Quizzes
Details of task:
• Students will be required to sit 4 in-tutorial quizzes throughout the semester.
• These quizzes will be run according to the schedule on page 3 of this outline (unless
otherwise stated by the lecturer).
• The quizzes will be 10 – 15 minutes in duration, and held at the end of the tutorial.
• Students MUST sit the quiz in the tutorial they are enrolled in; otherwise the
quiz will not count.
• The content for the quizzes will be limited to the required material for the topic on
which the tutorial is held.
• Students’ best 3 marks will count towards 15% of their overall course grade.
• Students should receive their quizzes back one week after the quiz is held.
Note: Students are required to prepare worked solutions to tutorial questions, bring these
solutions to tutorials, and be prepared to participate in tutorial discussions.
Assessment Task 2: Mid-Semester Exam
Details of task:
Mid-semester exams are administered by the university exam section and may be held
during or after business hours. Students are expected to be available for examination at the
time scheduled. The mid-semester exam covers topics covered in lectures from weeks 1 to
6 (inclusive). It will be a closed book, non-redeemable examination of 2 hours (plus 15
minutes reading time) duration, with no formula sheet provided. Further information
regarding the exact examination date, time, location and content will be provided in a
separate announcement on Wattle.
Final Examination
The final examination for this course will be conducted at the end of semester at a time to be
determined. The link to the final examination timetable will be published on the following
website: http://timetable.anu.edu.au. The final examination will involve a 3 hour paper, plus
15 minutes reading time. The examination will be based on all topics covered by this course.
The examination will be closed book, with no formula sheet provided.
Scaling
Your final mark for the course will be based on the raw marks allocated for each assignment
or examination. However, your final mark may not be the same number as produced by that
formula, as marks may be scaled. Any scaling applied will preserve the rank order of raw
marks (i.e. if your raw mark exceeds that of another student, then your scaled mark will
exceed or equal the scaled mark of that student), and may be either up or down.
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READING LISTS
PRESCRIBED TEXTS
Weygandt, Chalmers, Mitrone, Fyee, Kieso, Kimmel, “Principles of Financial Accounting” (3rd
edition). The textbook is published by Wiley
Recommended Reading
Trotman, K., Gibbins, M. & Carson, M., 2013. Financial Accounting An Integrated Approach
(5th ed). The textbook is published by Cengage Learning
Deegan, C., 2012. Australian Financial Accounting (7th ed). McGraw Hill.
Horngre, Harrison, Oliver, Best, Fraser, Tan, Willett., 2013, Financial Accounting (7th ed).
Pearson.
Hoggett, J., L. Edwards, J. Medlin & Tiling, M., 2009. Financial Accounting (7th ed) Milton:
Wiley
Deegan C, P., Kieso, D. E, Weygandt, J.J., 2009, Accounting, Building Business Skills,
Milton, Qld, Wiley & Sons (3rd ed)
TUTORIAL AND/OR SEMINAR REGISTRATION
Tutorial and /or Seminar signup for this course will be done via the Wattle website. Detailed
information about signup times will be provided on Wattle or during your first lecture. When
tutorials are available for enrolment, follow these steps:
1.
Log on to Wattle, and go to the course site.
2.
Click on the link “Tutorial signup here”
3.
On the right of the screen, click on the tab “Become Member of ……” for the tutorial
class you wish to enter.
4.
Confirm your choice
If you need to change your enrolment, you will be able to do so by clicking on the tab “Leave
group…” and then re-enrol in another group. You will not be able to enrol in groups that have
reached their maximum number. Please note that enrolment in ISIS must be finalised for you
to have access to Wattle.
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COMMUNICATION
Email
If necessary, the lecturers and tutors for this course will contact students on their official
ANU student email address. Information about your enrolment and fees from the Registrar
and Student Services' office will also be sent to this email address.
Announcements
Suggested wording: Students are expected to check the Wattle site for announcements
about this course, e.g. changes to timetables or notifications of cancellations. Notifications of
emergency cancellations of lectures or tutorials will be posted on the door of the relevant
room.
Course URLs
Suggested wording: More information about this course may be found on:
• Programs and Courses (http://programsandcourses.anu.edu.au/2014/Catalogue )
• the College of Business and Economics website (http://cbe.anu.edu/courses) and
• Wattle (https://wattle.anu.edu.au), the University's online learning environment. Log on to
Wattle using your student number and your ISIS password.
POLICIES
The University offers a number of support services for students. Information on these is
available online from http://students.anu.edu.au/studentlife/
ANU has educational policies, procedures and guidelines, which are designed to ensure that
staff and students are aware of the University’s academic standards, and implement them.
You can find the University’s education policies and an explanatory glossary
at: http://policies.anu.edu.au/
Students are expected to have read the Student Academic Integrity Policy before the
commencement of their course.
Other key policies include:
•
•
•
Student Assessment (Coursework)
Student Surveys and Evaluations
Copyright (http://copyright.anu.edu.au/)
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