AYB106 Accounting Processes and Systems
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | AYB106 |
|---|---|
| Antirequisite(s): | BSB110, BSD110 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,040 |
| Pre-2021 CSP student contribution | $1,597 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,024 |
| International unit fee | $4,176 |
Unit Outline: Semester 1 2024, Gardens Point, Internal
| Unit code: | AYB106 |
|---|---|
| Credit points: | 12 |
| Anti-requisite: | BSB110 or BSD110 |
| Coordinators: | Stanley Choi | stanley.choi@qut.edu.au Ogan Yigitbasioglu | ogan.yigitbasioglu@qut.edu.au |
Overview
Accounting data is the basis for decision making in any organisation, making it important for any business professional to have a foundational level of knowledge and understanding of modern financial and managerial accounting theory and practice. Accordingly, this unit provides students with introductory knowledge of modern financial accounting theory and practice to develop an understanding of how accounting data is used to inform decisions in organisations. The unit covers financial procedures and reporting for business entities, analysis and interpretation of financial statements, planning, control, business decision making and information communication technologies.The knowledge and skills developed in this introductory unit are relevant to students in accounting and non-accounting majors.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify, classify and analyse financial data, both manually and using a computerised accounting
- Identify and explain the accounting principles and concepts underlying financial reporting Relates to: UG Business Capabilities: KS (1.1)
- Describe, explain and discuss accounting information systems, concepts, issues and controls.Relates to: UG Business Capabilities: KS (1.2)
- Use accounting software (MYOB) to record and analyse accounting data in order to produce accurate, relevant and reliable written accounting reports.
Content
The underlying theme of this unit is to illustrate how accounting information is used in the real world for decision making. Annual reports of listed companies will be used to illustrate how accounting information is used in the business decision making process. In addition, relevant real world examples will be included in class activities and assessment to further illustrate the relationship between accounting information, business decision making and ICT. All types of decision making will be illustrated and discussed, namely financing, investing and operating decisions.
The content in this unit starts with a basic introduction to accounting, before progressing to consideration of the ways in which accounting information is used in business by both internal and external decision makers. This includes developing analytical and interpretational skills. The unit also provides instruction on how the financial statements that are used for decision making are prepared. In addition, this unit provides students with an introduction to the use of and underlying concepts of ICT in relation to accounting. This will include practical accounting skills.
The following topics will be covered in this unit:
- Introduction to accounting and the accounting process;
- Adjusting the accounts;
- Completing the accounting cycle;
- Operation of accounting systems;
- Accounting and control of inventory systems;
- Internal management control and accounting and control of cash;
- Accounting and control of current assets;
- Accounting and control of non-current assets;
- Equity, partnerships and companies
- Information Communication Technology
The generic capabilites developed in this unit are:
- Discipline knowledge;
- Technology skills;
- Synthesis and analysis.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Lectures (2 hours each topic) will provide an introduction to the theoretical concepts, and will use practical examples to illustrate techniques and processes. For all lectures the powerpoint slides will be available on the AYB106 Canvas site and should be downloaded prior to the lecture. You will get the most out of the lectures if you have access to the powerpoint slides to follow the materials they are presented in the lecture.
In the workshop (1 hour each topic), which take place at the following class, your learning will be supported by more in-depth questions which are designed to further develop your understanding of the material covered. The workshop questions are designed to further reinforce the work covered in the lecture, to show how various issues in the lecture material fit together, and to give students the opportunity to see how problems are worked, and discuss why something is done a certain way.
All learning materials (including lectures and workshops) other than the prescribed text will be made available online using the unit's Canvas site.
The basic understanding provided in lectures and workshops will be developed through the use of practice questions provided each week. To achieve the objectives of the unit it is essential that you complete the practice questions each week so that you can develop a sound understanding of the content of the unit.
This unit will encourage you to conceptually link the theoretical aspects with the practical aspects and thus you will be able to apply your knowledge to a wide variety of accounting situations
Proper attention to the teaching and learning strategies should enable you to meet the assessment requirements of the unit. You will be assessed on your developing knowledge, understanding and skills using a range of inter-related assessment methods.
It has been observed that those students who do not perform well in accounting subjects are those who fail to complete the topic practice questions and who do not attend classes.
COVID-19 restrictions may require changes to the planned Learning Approaches described here. Students should refer to the unit Canvas site for the latest information.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Accounting Decision Making
Acting in the role of an accountant, The assignment requires students to identify transactions that need to be recorded in the accounts of a business and record those transactions using an accounting software package.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1, 1.2)
This is an assignment for the purposes of an extension.
Assessment: Online Quiz
Summative online quizzes count towards your final grade. Summative quizzes will be released in weeks 3,5,7,9, and 11. In total there are five summative quizzes from which the best three results will count towards your final grade. Summative quizzes will be available over a 14 hour period (from 8am to 10pm) and are accessed and completed through Canvas under the Assessment section. There are no deferred summative quizzes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Final Exam
The examination will consist of both practical and theoretical questions that will assess your knowledge of financial data and accounting information systems and will examine work and concepts covered in Topics 1 to 12 inclusive.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), PC (3.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements
Costs
No additional costs
Resources
Before purchasing any text for this unit, please ensure that the prescribed text is the one that will be used for the semester you are studying. Prescribed texts are sometimes updated very close to the start of a semester.
If terminology or accounting treatment in the text and the lecture notes differs, you are required to follow the lecture notes. All examination questions will use terminology from the lecture notes.
Resource Materials
Prescribed text(s)
Miller-Nobles T, Mattison B, Matsumura E, Best P, Keene D, Tan, R and Willett R. Financial Accounting 9th edition, Pearson Melbourne.
Reference book(s)
Atrill, P., McLaney, E., Harvey, D., and Jenner, M. (2009) Accounting: An Introduction, 4th ed, Prentice Hall, NSW.
Hoggett J, Edwards L and Medlin J, and Tilling, M (2012) Accounting, 8th Ed, John Wiley and Sons, Brisbane.
Trotman, K and Gibbins, M., (2009) Financial Accounting: An Integrated Approach, 4th ed, Thomas Nelson, Melbourne.
Other
Additional resources can also be found at the unit's Canvas site.
It should also be noted that part of the assignmnet requires the use of an accounting software package that is not compatable with Mac computers unless an emulation is used. However, the software package is available to all students as it is installed in a number of computer labs at QUT.
Risk Assessment Statement
There are no out-of-the ordinary risks associated with this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, ULO4, Accounting Decision Making, Online Quiz, Final Exam
KS (1.2): Technical and Technological Skills
Relates to: ULO1, ULO3, ULO4, Accounting Decision Making, Final Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Final Exam
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, ULO4, Accounting Decision Making, Online Quiz, Final Exam - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, ULO3, ULO4, Accounting Decision Making, Final Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, Final Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Final Exam
Unit Outline: Semester 1 2024, Online
| Unit code: | AYB106 |
|---|---|
| Credit points: | 12 |
| Anti-requisite: | BSB110 or BSD110 |
Overview
Accounting data is the basis for decision making in any organisation, making it important for any business professional to have a foundational level of knowledge and understanding of modern financial and managerial accounting theory and practice. Accordingly, this unit provides students with introductory knowledge of modern financial accounting theory and practice to develop an understanding of how accounting data is used to inform decisions in organisations. The unit covers financial procedures and reporting for business entities, analysis and interpretation of financial statements, planning, control, business decision making and information communication technologies.The knowledge and skills developed in this introductory unit are relevant to students in accounting and non-accounting majors.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify, classify and analyse financial data, both manually and using a computerised accounting
- Identify and explain the accounting principles and concepts underlying financial reporting Relates to: UG Business Capabilities: KS (1.1)
- Describe, explain and discuss accounting information systems, concepts, issues and controls.Relates to: UG Business Capabilities: KS (1.2)
- Use accounting software (MYOB) to record and analyse accounting data in order to produce accurate, relevant and reliable written accounting reports.
Content
The underlying theme of this unit is to illustrate how accounting information is used in the real world for decision making. Annual reports of listed companies will be used to illustrate how accounting information is used in the business decision making process. In addition, relevant real world examples will be included in class activities and assessment to further illustrate the relationship between accounting information, business decision making and ICT. All types of decision making will be illustrated and discussed, namely financing, investing and operating decisions.
The content in this unit starts with a basic introduction to accounting, before progressing to consideration of the ways in which accounting information is used in business by both internal and external decision makers. This includes developing analytical and interpretational skills. The unit also provides instruction on how the financial statements that are used for decision making are prepared. In addition, this unit provides students with an introduction to the use of and underlying concepts of ICT in relation to accounting. This will include practical accounting skills.
The following topics will be covered in this unit:
- Introduction to accounting and the accounting process;
- Adjusting the accounts;
- Completing the accounting cycle;
- Operation of accounting systems;
- Accounting and control of inventory systems;
- Internal management control and accounting and control of cash;
- Accounting and control of current assets;
- Accounting and control of non-current assets;
- Equity, partnerships and companies
- Information Communication Technology
The generic capabilites developed in this unit are:
- Discipline knowledge;
- Technology skills;
- Synthesis and analysis.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Lectures (2 hours each topic) will provide an introduction to the theoretical concepts, and will use practical examples to illustrate techniques and processes. For all lectures the powerpoint slides will be available on the AYB106 Canvas site and should be downloaded prior to the lecture. You will get the most out of the lectures if you have access to the powerpoint slides to follow the materials they are presented in the lecture.
In the workshop (1 hour each topic), which take place at the following class, your learning will be supported by more in-depth questions which are designed to further develop your understanding of the material covered. The workshop questions are designed to further reinforce the work covered in the lecture, to show how various issues in the lecture material fit together, and to give students the opportunity to see how problems are worked, and discuss why something is done a certain way.
All learning materials (including lectures and workshops) other than the prescribed text will be made available online using the unit's Canvas site.
The basic understanding provided in lectures and workshops will be developed through the use of practice questions provided each week. To achieve the objectives of the unit it is essential that you complete the practice questions each week so that you can develop a sound understanding of the content of the unit.
This unit will encourage you to conceptually link the theoretical aspects with the practical aspects and thus you will be able to apply your knowledge to a wide variety of accounting situations
Proper attention to the teaching and learning strategies should enable you to meet the assessment requirements of the unit. You will be assessed on your developing knowledge, understanding and skills using a range of inter-related assessment methods.
It has been observed that those students who do not perform well in accounting subjects are those who fail to complete the topic practice questions and who do not attend classes.
COVID-19 restrictions may require changes to the planned Learning Approaches described here. Students should refer to the unit Canvas site for the latest information.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Accounting Decision Making
Acting in the role of an accountant, The assignment requires students to identify transactions that need to be recorded in the accounts of a business and record those transactions using an accounting software package.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1, 1.2)
This is an assignment for the purposes of an extension.
Assessment: Online Quiz
Summative online quizzes count towards your final grade. Summative quizzes will be released in weeks 3,5,7,9, and 11. In total there are five summative quizzes from which the best three results will count towards your final grade. Summative quizzes will be available over a 14 hour period (from 8am to 10pm) and are accessed and completed through Canvas under the Assessment section. There are no deferred summative quizzes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Final Exam
The examination will consist of both practical and theoretical questions that will assess your knowledge of financial data and accounting information systems and will examine work and concepts covered in Topics 1 to 12 inclusive.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), PC (3.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements
Costs
No additional costs
Resources
Before purchasing any text for this unit, please ensure that the prescribed text is the one that will be used for the semester you are studying. Prescribed texts are sometimes updated very close to the start of a semester.
If terminology or accounting treatment in the text and the lecture notes differs, you are required to follow the lecture notes. All examination questions will use terminology from the lecture notes.
Resource Materials
Prescribed text(s)
Miller-Nobles T, Mattison B, Matsumura E, Best P, Keene D, Tan, R and Willett R. Financial Accounting 9th edition, Pearson Melbourne.
Reference book(s)
Atrill, P., McLaney, E., Harvey, D., and Jenner, M. (2009) Accounting: An Introduction, 4th ed, Prentice Hall, NSW.
Hoggett J, Edwards L and Medlin J, and Tilling, M (2012) Accounting, 8th Ed, John Wiley and Sons, Brisbane.
Trotman, K and Gibbins, M., (2009) Financial Accounting: An Integrated Approach, 4th ed, Thomas Nelson, Melbourne.
Other
Additional resources can also be found at the unit's Canvas site.
It should also be noted that part of the assignmnet requires the use of an accounting software package that is not compatable with Mac computers unless an emulation is used. However, the software package is available to all students as it is installed in a number of computer labs at QUT.
Risk Assessment Statement
There are no out-of-the ordinary risks associated with this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, ULO4, Accounting Decision Making, Online Quiz, Final Exam
KS (1.2): Technical and Technological Skills
Relates to: ULO1, ULO3, ULO4, Accounting Decision Making, Final Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Final Exam
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, ULO4, Accounting Decision Making, Online Quiz, Final Exam - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, ULO3, ULO4, Accounting Decision Making, Final Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, Final Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Final Exam
Unit Outline: Semester 2 2024, Gardens Point, Internal
| Unit code: | AYB106 |
|---|---|
| Credit points: | 12 |
| Anti-requisite: | BSB110 or BSD110 |
| Coordinators: | Stanley Choi | stanley.choi@qut.edu.au |
Overview
Accounting data is the basis for decision making in any organisation, making it important for any business professional to have a foundational level of knowledge and understanding of modern financial and managerial accounting theory and practice. Accordingly, this unit provides students with introductory knowledge of modern financial accounting theory and practice to develop an understanding of how accounting data is used to inform decisions in organisations. The unit covers financial procedures and reporting for business entities, analysis and interpretation of financial statements, planning, control, business decision making and information communication technologies.The knowledge and skills developed in this introductory unit are relevant to students in accounting and non-accounting majors.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify, classify and analyse financial data, both manually and using a computerised accounting
- Identify and explain the accounting principles and concepts underlying financial reporting Relates to: UG Business Capabilities: KS (1.1)
- Describe, explain and discuss accounting information systems, concepts, issues and controls.Relates to: UG Business Capabilities: KS (1.2)
- Use accounting software (MYOB) to record and analyse accounting data in order to produce accurate, relevant and reliable written accounting reports.
Content
The underlying theme of this unit is to illustrate how accounting information is used in the real world for decision making. Annual reports of listed companies will be used to illustrate how accounting information is used in the business decision making process. In addition, relevant real world examples will be included in class activities and assessment to further illustrate the relationship between accounting information, business decision making and ICT. All types of decision making will be illustrated and discussed, namely financing, investing and operating decisions.
The content in this unit starts with a basic introduction to accounting, before progressing to consideration of the ways in which accounting information is used in business by both internal and external decision makers. This includes developing analytical and interpretational skills. The unit also provides instruction on how the financial statements that are used for decision making are prepared. In addition, this unit provides students with an introduction to the use of and underlying concepts of ICT in relation to accounting. This will include practical accounting skills.
The following topics will be covered in this unit:
- Introduction to accounting and the accounting process;
- Adjusting the accounts;
- Completing the accounting cycle;
- Operation of accounting systems;
- Accounting and control of inventory systems;
- Internal management control and accounting and control of cash;
- Accounting and control of current assets;
- Accounting and control of non-current assets;
- Equity, partnerships and companies
- Information Communication Technology
The generic capabilites developed in this unit are:
- Discipline knowledge;
- Technology skills;
- Synthesis and analysis.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Lectures (2 hours each topic) will provide an introduction to the theoretical concepts, and will use practical examples to illustrate techniques and processes. For all lectures the powerpoint slides will be available on the AYB106 Canvas site and should be downloaded prior to the lecture. You will get the most out of the lectures if you have access to the powerpoint slides to follow the materials they are presented in the lecture.
In the workshop (1 hour each topic), which take place at the following class, your learning will be supported by more in-depth questions which are designed to further develop your understanding of the material covered. The workshop questions are designed to further reinforce the work covered in the lecture, to show how various issues in the lecture material fit together, and to give students the opportunity to see how problems are worked, and discuss why something is done a certain way.
All learning materials (including lectures and workshops) other than the prescribed text will be made available online using the unit's Canvas site.
The basic understanding provided in lectures and workshops will be developed through the use of practice questions provided each week. To achieve the objectives of the unit it is essential that you complete the practice questions each week so that you can develop a sound understanding of the content of the unit.
This unit will encourage you to conceptually link the theoretical aspects with the practical aspects and thus you will be able to apply your knowledge to a wide variety of accounting situations
Proper attention to the teaching and learning strategies should enable you to meet the assessment requirements of the unit. You will be assessed on your developing knowledge, understanding and skills using a range of inter-related assessment methods.
It has been observed that those students who do not perform well in accounting subjects are those who fail to complete the topic practice questions and who do not attend classes.
COVID-19 restrictions may require changes to the planned Learning Approaches described here. Students should refer to the unit Canvas site for the latest information.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Accounting Decision Making
Acting in the role of an accountant, The assignment requires students to identify transactions that need to be recorded in the accounts of a business and record those transactions using an accounting software package.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1, 1.2)
This is an assignment for the purposes of an extension.
Assessment: Online Quiz
Summative online quizzes count towards your final grade. Summative quizzes will be released in weeks 3,5,7,9, and 11. In total there are five summative quizzes from which the best three results will count towards your final grade. Summative quizzes will be available over a 14 hour period (from 8am to 10pm) and are accessed and completed through Canvas under the Assessment section. There are no deferred summative quizzes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Final Exam
The examination will consist of both practical and theoretical questions that will assess your knowledge of financial data and accounting information systems and will examine work and concepts covered in Topics 1 to 12 inclusive.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), PC (3.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements
Costs
No additional costs
Resources
Before purchasing any text for this unit, please ensure that the prescribed text is the one that will be used for the semester you are studying. Prescribed texts are sometimes updated very close to the start of a semester.
If terminology or accounting treatment in the text and the lecture notes differs, you are required to follow the lecture notes. All examination questions will use terminology from the lecture notes.
Resource Materials
Prescribed text(s)
Miller-Nobles T, Mattison B, Matsumura E, Best P, Keene D, Tan, R and Willett R. Financial Accounting 9th edition, Pearson Melbourne.
Reference book(s)
Atrill, P., McLaney, E., Harvey, D., and Jenner, M. (2009) Accounting: An Introduction, 4th ed, Prentice Hall, NSW.
Hoggett J, Edwards L and Medlin J, and Tilling, M (2012) Accounting, 8th Ed, John Wiley and Sons, Brisbane.
Trotman, K and Gibbins, M., (2009) Financial Accounting: An Integrated Approach, 4th ed, Thomas Nelson, Melbourne.
Other
Additional resources can also be found at the unit's Canvas site.
It should also be noted that part of the assignmnet requires the use of an accounting software package that is not compatable with Mac computers unless an emulation is used. However, the software package is available to all students as it is installed in a number of computer labs at QUT.
Risk Assessment Statement
There are no out-of-the ordinary risks associated with this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, ULO4, Accounting Decision Making, Online Quiz, Final Exam
KS (1.2): Technical and Technological Skills
Relates to: ULO1, ULO3, ULO4, Accounting Decision Making, Final Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Final Exam
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, ULO4, Accounting Decision Making, Online Quiz, Final Exam - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, ULO3, ULO4, Accounting Decision Making, Final Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, Final Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Final Exam
Unit Outline: Semester 2 2024, Online
| Unit code: | AYB106 |
|---|---|
| Credit points: | 12 |
| Anti-requisite: | BSB110 or BSD110 |
Overview
Accounting data is the basis for decision making in any organisation, making it important for any business professional to have a foundational level of knowledge and understanding of modern financial and managerial accounting theory and practice. Accordingly, this unit provides students with introductory knowledge of modern financial accounting theory and practice to develop an understanding of how accounting data is used to inform decisions in organisations. The unit covers financial procedures and reporting for business entities, analysis and interpretation of financial statements, planning, control, business decision making and information communication technologies.The knowledge and skills developed in this introductory unit are relevant to students in accounting and non-accounting majors.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify, classify and analyse financial data, both manually and using a computerised accounting
- Identify and explain the accounting principles and concepts underlying financial reporting Relates to: UG Business Capabilities: KS (1.1)
- Describe, explain and discuss accounting information systems, concepts, issues and controls.Relates to: UG Business Capabilities: KS (1.2)
- Use accounting software (MYOB) to record and analyse accounting data in order to produce accurate, relevant and reliable written accounting reports.
Content
The underlying theme of this unit is to illustrate how accounting information is used in the real world for decision making. Annual reports of listed companies will be used to illustrate how accounting information is used in the business decision making process. In addition, relevant real world examples will be included in class activities and assessment to further illustrate the relationship between accounting information, business decision making and ICT. All types of decision making will be illustrated and discussed, namely financing, investing and operating decisions.
The content in this unit starts with a basic introduction to accounting, before progressing to consideration of the ways in which accounting information is used in business by both internal and external decision makers. This includes developing analytical and interpretational skills. The unit also provides instruction on how the financial statements that are used for decision making are prepared. In addition, this unit provides students with an introduction to the use of and underlying concepts of ICT in relation to accounting. This will include practical accounting skills.
The following topics will be covered in this unit:
- Introduction to accounting and the accounting process;
- Adjusting the accounts;
- Completing the accounting cycle;
- Operation of accounting systems;
- Accounting and control of inventory systems;
- Internal management control and accounting and control of cash;
- Accounting and control of current assets;
- Accounting and control of non-current assets;
- Equity, partnerships and companies
- Information Communication Technology
The generic capabilites developed in this unit are:
- Discipline knowledge;
- Technology skills;
- Synthesis and analysis.
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Lectures (2 hours each topic) will provide an introduction to the theoretical concepts, and will use practical examples to illustrate techniques and processes. For all lectures the powerpoint slides will be available on the AYB106 Canvas site and should be downloaded prior to the lecture. You will get the most out of the lectures if you have access to the powerpoint slides to follow the materials they are presented in the lecture.
In the workshop (1 hour each topic), which take place at the following class, your learning will be supported by more in-depth questions which are designed to further develop your understanding of the material covered. The workshop questions are designed to further reinforce the work covered in the lecture, to show how various issues in the lecture material fit together, and to give students the opportunity to see how problems are worked, and discuss why something is done a certain way.
All learning materials (including lectures and workshops) other than the prescribed text will be made available online using the unit's Canvas site.
The basic understanding provided in lectures and workshops will be developed through the use of practice questions provided each week. To achieve the objectives of the unit it is essential that you complete the practice questions each week so that you can develop a sound understanding of the content of the unit.
This unit will encourage you to conceptually link the theoretical aspects with the practical aspects and thus you will be able to apply your knowledge to a wide variety of accounting situations
Proper attention to the teaching and learning strategies should enable you to meet the assessment requirements of the unit. You will be assessed on your developing knowledge, understanding and skills using a range of inter-related assessment methods.
It has been observed that those students who do not perform well in accounting subjects are those who fail to complete the topic practice questions and who do not attend classes.
COVID-19 restrictions may require changes to the planned Learning Approaches described here. Students should refer to the unit Canvas site for the latest information.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Accounting Decision Making
Acting in the role of an accountant, The assignment requires students to identify transactions that need to be recorded in the accounts of a business and record those transactions using an accounting software package.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1, 1.2)
This is an assignment for the purposes of an extension.
Assessment: Online Quiz
Summative online quizzes count towards your final grade. Summative quizzes will be released in weeks 3,5,7,9, and 11. In total there are five summative quizzes from which the best three results will count towards your final grade. Summative quizzes will be available over a 14 hour period (from 8am to 10pm) and are accessed and completed through Canvas under the Assessment section. There are no deferred summative quizzes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Final Exam
The examination will consist of both practical and theoretical questions that will assess your knowledge of financial data and accounting information systems and will examine work and concepts covered in Topics 1 to 12 inclusive.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1, 1.2), HO (2.1), PC (3.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements
Costs
No additional costs
Resources
Before purchasing any text for this unit, please ensure that the prescribed text is the one that will be used for the semester you are studying. Prescribed texts are sometimes updated very close to the start of a semester.
If terminology or accounting treatment in the text and the lecture notes differs, you are required to follow the lecture notes. All examination questions will use terminology from the lecture notes.
Resource Materials
Prescribed text(s)
Miller-Nobles T, Mattison B, Matsumura E, Best P, Keene D, Tan, R and Willett R. Financial Accounting 9th edition, Pearson Melbourne.
Reference book(s)
Atrill, P., McLaney, E., Harvey, D., and Jenner, M. (2009) Accounting: An Introduction, 4th ed, Prentice Hall, NSW.
Hoggett J, Edwards L and Medlin J, and Tilling, M (2012) Accounting, 8th Ed, John Wiley and Sons, Brisbane.
Trotman, K and Gibbins, M., (2009) Financial Accounting: An Integrated Approach, 4th ed, Thomas Nelson, Melbourne.
Other
Additional resources can also be found at the unit's Canvas site.
It should also be noted that part of the assignmnet requires the use of an accounting software package that is not compatable with Mac computers unless an emulation is used. However, the software package is available to all students as it is installed in a number of computer labs at QUT.
Risk Assessment Statement
There are no out-of-the ordinary risks associated with this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO1, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, ULO4, Accounting Decision Making, Online Quiz, Final Exam
KS (1.2): Technical and Technological Skills
Relates to: ULO1, ULO3, ULO4, Accounting Decision Making, Final Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO4, Final Exam
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, ULO4, Accounting Decision Making, Online Quiz, Final Exam - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, ULO3, ULO4, Accounting Decision Making, Final Exam - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO1, Final Exam - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO4, Final Exam