| UNIT TITLE |
Accounting II |
| UNIT CODE |
ACC2250 |
| CREDIT POINTS |
15 |
| FULL YEAR UNIT |
No |
| PRE-REQUISITES |
ACC1100 - Accounting I
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| MODE OF DELIVERY |
On-campus
Online
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DESCRIPTION
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This unit encompasses two main themes being the underlying theory of, financial reporting; and providing students with technical skills in terms of the recording and preparation of financial accounting information. The manual accounting for the complete life cycle of a business entity is examined as well as the computerised record keeping using MYOB accounting software.
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| LEARNING OUTCOMES |
On successful completion of this unit, students should be able to:
- apply the accounting concepts, assumptions, and principles underpinning financial accounting;
- record and report business transactions through the use of a manual accounting system as well as an accounting MYOB software;
- demonstrate their analytical and numeracy skills to prepare financial statements for the sole trader, partnership and companies;
- select and apply appropriate accounting treatments in accordance with related International Accounting Standards as well as the Framework;
- account for the acquisition, revaluation and disposal of non-current assets; and
- communicate how financial accounting information is generated, processed and used to facilitate sound economic decision making.
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| UNIT CONTENT |
- The use of financial statements as a tool for decision making.
- Recording economic transactions in an accounting system.
- Adjusting the financial accounts and preparing financial statements.
- Completing the accounting cycle - closing and reversing entries.
- Cash management, related controls and cash flows.
- Accounting for receivables.
- Accounting for retailing and inventories.
- Accounting for non-current assets.
- Accounting for liabilities.
- Accounting for partnerships.
- Accounting for companies.
- Analysis of financial statements.
- Australian conceptual framework.
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| TEACHING AND LEARNING PROCESSES |
| This unit includes a one and a half-hour lecture and a one and a half- hour tutorial each week. The purpose of lectures is to introduce new topics, engage with key concepts and evaluate accounting techniques. Tutorials provide students with the opportunity to work through practical exercises. Tutorials are conducted in a student-centred, collaborative learning environment and students are expected to participate in the completion and discussion of weekly exercises.
Off-campus students follow a continuous study schedule outlined in the unit plan, utilising various online resources and communication tools accessed via Blackboard. Students are expected to participate actively online. Regular online access is required. |
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| GRADUATE ATTRIBUTES |
- ability to communicate
- critical appraisal skills
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| ASSESSMENT |
| Grading Schema 1 |
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| Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners. |
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Item
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On-Campus Assessment
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Value
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Assignment
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Accounting practice set assignment
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20%
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Participation
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Collaborative Tutorial Activities
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20%
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Examination
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Final examination
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60%
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Item
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Online Assessment
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Value
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Assignment
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Accounting practice set assignment
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20%
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Participation
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Online Tutorial Activities
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20%
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Examination
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Final examination
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60%
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| Students must pass all assessment components in order to pass the unit. |
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| TEXTS |
| Hoggett, J., Edwards, L., Medlin, J., Tilling, M. & Hogg, E. (2012). Financial accounting (8th ed.). Brisbane: John Wiley & Sons. |
| Perdisco. Available http://www.perdisco.com November 12, 2012] |
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| SIGNIFICANT REFERENCES |
| Gourlay, D., & Flancers, D. (2011). MYOB AccountRight plus version 19. South Melbourne: Cengage Learning. |
| Horngren, C. T., Harrison, W. T.. Oliver, M. S., Best, P., Fraser, D., Tan, R. & Willett, R. (2013). Financial accounting (7th ed.). Frenchs Forest, NSW: Pearson Education. |
| Jackling,B., Raar, J., Wines, G. & McDowall, T. (2010). Accounting: A framework for decision making (3rd ed.). North Ryde, NSW: McGraw-Hill Australia Pty Ltd. |
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| WEB SITES |
| Some other useful websites include: |
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| Institute of Chartered Accountants in Australia: http://www.icaa.org.au/ |
| CPA Australia: http://www.cpaaustralia.com.au |
| Accounting Education: http://www.accountingeducation.com |
| The Australian Financial Review: http://www.afr.com.au |
| Business Review Weekly: http://brw.com.au |
| The Australian: http://www.theaustralian.com.au |
| International Accounting Standards Board http://www.iasb.org.uk |
| Australian Accounting Standards Board http://www.aasb.com.au |
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| Disability Standards for Education (Commonwealth 2005) | |
| For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes, Graduate Attributes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Student Equity, Diversity and Disability Service website: |
| http://intranet.ecu.edu.au/student/support/student-equity |
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Academic Misconduct
Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:
- plagiarism;
- unauthorised collaboration;
- cheating in examinations;
- theft of other students’ work.
Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.
The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.
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