LEARNING OUTCOMES

In this unit, the student develops analytical skills and technical knowledge to assimilate information, develop useful information for the management and internal stakeholders of an organisation with a view to enhance customer and stakeholder value.

At the completion of this unit a student should be able to:

LO1 Evaluate the ways users of financial information use financial information for decision making in business.

LO2 Understand the regulatory framework, corporate governance, professional judgement and management accounting.

LO3 Explain the process of business plans and how they are developed based on cost- volume-profit analysis and budgeting.

LO4 Analyse financial reports, profitability, liquidity and long-term solvency information.

LO5 Describe the way issues of sustainability impact the decision making of management accountants.

CONTENT

Topics will include:

1. Role of accounting and bookkeeping
2. Financial statements: accounting concepts and assumptions
3. Ethics in profession and in business - case studies
4. The accounting system its concepts, structures, and applications
5. Cash flows, Cash management and control
6. Accounting for depreciation and Accruals
7. Financial statement analysis
8. Introduction to management accounting
9. Break evens and Cost-volume- profit analysis
10. Budgeting and Planning
11. Capital budgeting and investment decision making
12. Accounting for sustainability

Case Study on Accounting and supporting systems for business

Students will be given a case study on various businesses (to select one) and will be required to study and make recommendations on accounting approach and supporting systems to use.

Students will be required to do the assignment in groups (3 or 4 students) and will be required to submit their work.

Required:

This assignment is to be completed in groups and submitted on Moodle by Week 5. Late submissions would have marks deducted according to Stott's College policy. This is to encourage students to work on group basis, as it is a reality in the professional working environment. Students should prepare the assignment as an essay with a clear introduction and conclusion. All sources should be referenced using the style prescribed in APA 6th edition. All work should be the students own and any plagiarism will result in a nil grade and a notice being sent to the Course coordinator.

Financial Statements Analysis

Using the same groups from assignment 1, students will be required to analyse a set of financial statements within a given scenario. Using ratio analysis students will be required to interpret the results and offer suggestions and solutions to the problems identified in the given scenario. The format of your report will be discussed in greater detail during tutorials.

PRESCRIBED TEXTS: Hoggett J., Medlin, M J., Edwards, L., Tilling, M. and Hogg E. (2015), Accounting (9th Edition), John Wiley & Sons Australia.