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  2. Accounting II [ACC2250]

Faculty of Business and Law

School: Business

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Accounting II

  • Unit Code

    ACC2250

  • Year

    2015

  • Enrolment Period

    1

  • Version

    1

  • Credit Points

    15

  • Full Year Unit

     N

  • Mode of Delivery

    On Campus
    Online

Description

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.

Prerequisite Rule

Students must pass 1 units from ACC1100

Learning Outcomes

On completion of this unit students should be able to:

  1. Account for the acquisition, revaluation and disposal of non-current assets.
  2. Apply the accounting concepts, assumptions, and principles underpinning financial accounting.
  3. Communicate how financial accounting information is generated, processed and used to facilitate sound economic decision making.
  4. Demonstrate their analytical and numeracy skills to prepare financial statements for the sole trader, partnership and companies.
  5. Record and report business transactions through the use of a manual accounting system as well as an accounting MYOB software.
  6. Select and apply appropriate accounting treatments in accordance with related International Accounting Standards as well as the Framework.

Unit Content

  1. Accounting for companies.
  2. Accounting for liabilities.
  3. Accounting for non-current assets.
  4. Accounting for partnerships.
  5. Accounting for receivables.
  6. Accounting for retailing and inventories.
  7. Adjusting the financial accounts and preparing financial statements.
  8. Analysis of financial statements.
  9. Australian conceptual framework.
  10. Cash management, related controls and cash flows.
  11. Completing the accounting cycle - closing and reversing entries.
  12. Recording economic transactions in an accounting system.
  13. The use of financial statements as a tool for decision making.

Additional Learning Experience Information

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.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

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.

ON CAMPUS
TypeDescriptionValue
AssignmentAccounting practice set assignment20%
ParticipationCollaborative Tutorial Activities20%
Examination ^Final examination60%
ONLINE
TypeDescriptionValue
AssignmentAccounting practice set assignment20%
ParticipationOnline Tutorial Activities20%
Examination ^Final examination60%

^ Mandatory to Pass

Text References

  • ^ Perdisco. Available http://www.perdisco.com November 12, 2012]
  • ^ Hoggett, J., Edwards, L., Medlin, J., Tilling, M. & Hogg, E. (2012). Financial accounting (8th ed.). Brisbane: John Wiley & Sons.
  • 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.
  • Gourlay, D., & Flancers, D. (2011). MYOB AccountRight plus version 19. South Melbourne: Cengage Learning.
  • 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.

Website References

^ Mandatory reference

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 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 Access and Inclusion website.

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.

ACC2250|1|1

Faculty of Business and Law

School: Business

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Accounting II

  • Unit Code

    ACC2250

  • Year

    2015

  • Enrolment Period

    2

  • Version

    1

  • Credit Points

    15

  • Full Year Unit

     N

  • Mode of Delivery

    On Campus
    Online

Description

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.

Prerequisite Rule

Students must pass 1 units from ACC1100

Learning Outcomes

On completion of this unit students should be able to:

  1. Account for the acquisition, revaluation and disposal of non-current assets.
  2. Apply the accounting concepts, assumptions, and principles underpinning financial accounting.
  3. Communicate how financial accounting information is generated, processed and used to facilitate sound economic decision making.
  4. Demonstrate their analytical and numeracy skills to prepare financial statements for the sole trader, partnership and companies.
  5. Record and report business transactions through the use of a manual accounting system as well as an accounting MYOB software.
  6. Select and apply appropriate accounting treatments in accordance with related International Accounting Standards as well as the Framework.

Unit Content

  1. Accounting for companies.
  2. Accounting for liabilities.
  3. Accounting for non-current assets.
  4. Accounting for partnerships.
  5. Accounting for receivables.
  6. Accounting for retailing and inventories.
  7. Adjusting the financial accounts and preparing financial statements.
  8. Analysis of financial statements.
  9. Australian conceptual framework.
  10. Cash management, related controls and cash flows.
  11. Completing the accounting cycle - closing and reversing entries.
  12. Recording economic transactions in an accounting system.
  13. The use of financial statements as a tool for decision making.

Additional Learning Experience Information

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.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

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.

ON CAMPUS
TypeDescriptionValue
AssignmentAccounting practice set assignment20%
ParticipationCollaborative Tutorial Activities20%
Examination ^Final examination60%
ONLINE
TypeDescriptionValue
AssignmentAccounting practice set assignment20%
ParticipationOnline Tutorial Activities20%
Examination ^Final examination60%

^ Mandatory to Pass

Text References

  • ^ Perdisco. Available http://www.perdisco.com November 12, 2012]
  • ^ Hoggett, J., Edwards, L., Medlin, J., Tilling, M. & Hogg, E. (2012). Financial accounting (8th ed.). Brisbane: John Wiley & Sons.
  • 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.
  • Gourlay, D., & Flancers, D. (2011). MYOB AccountRight plus version 19. South Melbourne: Cengage Learning.
  • 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.

Website References

^ Mandatory reference

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 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 Access and Inclusion website.

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.

ACC2250|1|2