ACC 5502 Accounting for Managers

STAFFING:

RATIONALE:

The purpose of this course is to develop the ability of non-accountants to use accounting and finance information for the purposes of planning, controlling, reporting and decision making. The course will assist students in understanding, interpreting and analysing summarised accounting data and financial statements. The process of budgeting, costing and performance measurement and evaluation is also explored. The evaluation of investment and financing alternatives and working capital management will also be included.

SYNOPSIS:

This course, available to postgraduate students only, aims to provide an understanding of the process of accounting, accounting concepts and the uses of accounting information in decision making. Specifically the preparation, use and interpretation of financial reports; the use of accounting information for planning and controlling; and the use of finance information for capital investment appraisal and working capital management will be examined.

OBJECTIVES:

On successful completion of this course you should be able to:

1. discuss the role, process and limitations of accounting and identify, describe and analyse the key issues relevant to the four most common entity structures used by business operations in Australia;
2. understand the nature of the business environment including the regulatory framework governing accounting and corporations and appreciate the role of ethics in the business environment;
3. explain the accounting process, the accounting equation and the process of capturing accounting information;
4. understand, prepare, interpret and criticise the content of the statement of financial position (balance sheet);
5. understand, prepare, interpret and criticise the content of the statement of financial performance (income statement);
6. understand, prepare, interpret and criticise the content of the statement of cash flows;
7. describe and apply common financial statement analytical techniques, interpret the results of the analysis and discuss their limitations;
8. discuss the budgeting process, prepare budgets and demonstrate the relevance of budgeting in planning, control and decision making within the business entity and describe, prepare and evaluate cost-volume-profit analysis to assist in planning, controlling and decision making;
9. understand the use of costing in an entity to assist in planning, control and decision making and be able to prepare simple costing analysis;
10. describe, prepare and critically analyse various performance measures (both financial and non-financial) used for evaluation in organisations and understand their limitations;
11. explain the business investment decision-making process and describe and apply common investment appraisal tools; and
12. discuss the nature and importance of working capital and utilise the various management tools used for the efficient and effective management of the various components of working capital and identify, discuss and evaluate the key issues with regard to the main sources of finance available to a business.

TOPICS:

TEXT and MATERIALS required to be PURCHASED or accessed:

ALL textbooks and materials are available for purchase from USQ BOOKSHOP (unless otherwise stated). Orders may be placed via secure internet, free fax 1800642453, phone 07 46312742 (within Australia), or mail. Overseas students should fax +61 7 46311743, or phone +61 7 46312742. For costs, further details, and internet ordering, use the 'Textbook Search' facility at http://bookshop.usq.edu.au click 'Semester', then enter your 'Course Code' (no spaces).

ACC5502 study package available from the USQ Bookshop.

REFERENCE MATERIALS:

STUDENT WORKLOAD REQUIREMENTS:

ASSESSMENT DETAILS:

IMPORTANT ASSESSMENT INFORMATION

1. Attendance requirements:
   It is the students' responsibility to attend and participate appropriately in all activities (such as lectures, tutorials, laboratories and practical work) scheduled for them, and to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.
2. Requirements for students to complete each assessment item satisfactorily:
   See 4 below
3. Penalties for late submission of required work:
   Not applicable
4. Requirements for student to be awarded a passing grade in the course:
   To be assured of receiving a passing grade a student must demonstrate satisfactory levels of achievement in all objectives designated as essential for passing the course. The designated essential objectives are all those listed under 'objectives' in this course specification.
5. Method used to combine assessment results to attain final grade:
   See 4 above
6. Examination information:
   This is a restricted examination. Candidates are allowed access to specific materials during the examination. The only materials that candidates may use in the restricted examination for this course are: writing materials (non-electronic and free from material which could give the student an unfair advantage in the examination); calculators which cannot hold textual information (students must indicate on their examination paper the make and model of any calculator(s) they use during the examination); English translation dictionaries (but not technical dictionaries). Students are not permitted to take mobile telephones, pagers or other electronic means of communication into the examination room. The examination will contain 12 questions. Each question will assess an objective as listed under 'objectives' in this course specification
7. Examination period when Deferred/Supplementary examinations will be held:
   Any Deferred or Supplementary examinations for this course will be held during the next examination period.
8. University Regulations:
   Students should read USQ Regulations 5.1 Definitions, 5.6. Assessment, and 5.10 Academic Misconduct for further information and to avoid actions which might contravene University Regulations. These regulations can be found at the URL http://www.usq.edu.au/corporateservices/calendar/part5.htm. Students should also read the Faculty of Business Guide to Policies and Procedures of the Faculty which can be found at the URL http://www.usq.edu.au/handbook/current/buspolproc.html.

ASSESSMENT NOTES

OTHER REQUIREMENTS:

1. Learning Resources: Prescribed texts and materials (see above); recommended reference materials (see above); printed Introductory Book* and Study Book/s*; and course Website accessible via USQConnect. *part of the study package available from the USQ Bookshop.