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PDC5111 Introduction to Accounting Systems with MYOB

Full Year, 2012 External Toowoomba
Units : 0.33
Faculty or Section : Faculty of Business and Law
School or Department : School of Accounting, Economics and Finance
Version produced : 30 December 2013

Contents on this page

Staffing

Examiner: Mark Vallely
Moderator:

Requisites

Pre-requisite: For FBSC Group Students Only

Other requisites

Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at <http://www.usq.edu.au/current-students/support/computing/hardware>.

Rationale

This course aims to inform students of the nature of accounting systems (both manual and computerised), through the manual processing of transactions (journals, ledgers, trial balance) and by using industry-leading MYOB accounting software.

Synopsis

In this course we will introduce you to the complex world of commerce. We start by investigating the commercial and accounting environment and the need for high quality financial information for business owners/managers to make commercial decisions. We introduce the common financial accounting (external) reports (balance sheet, income statement, statement of changes in equity and statement of cash flows), which are used for decision-making purposes. The information provided in these reports is captured in an accounting system (either manual or computerised), which is designed to measure business activities, record the data and summarise it. Our coverage of the manual accounting process is comprehensive (transaction analysis and recording through to preparation and presentation of financial reports). We will then build upon your knowledge by studying the use of a computerised accounting system (MYOB AccountRight Enterprise v. 19). This course is designed to provide you with a solid foundation for further study in PDC5112 and PDC5113.

Objectives

On successful completion of this course, students should be able to:

  1. describe and discuss the commercial and accounting environment, the assumptions which underlie the accounting process and the current regulatory processes in operation
  2. analyse business transactions and describe their effect on the accounting equation, record business transactions, process period end adjustments and prepare financial reports consistent with the relevant professional and statutory requirements
  3. use the accounting software MYOB AccountRight Enterprise v. 19, to create a company file, an accounts list and the tax codes for GST and to record business transactions and events.

Topics

Description Weighting(%)
1. The commercial and accounting environment 20.00
2. Business elements and transactions 20.00
3. Introduction to MYOB 20.00
4. The balance day adjusting process 20.00
5. Completing the accounting process 20.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://bookshop.usq.edu.au/bookweb/subject.cgi?year=2012&sem=04&subject1=PDC5111)

Please contact us for alternative purchase options from USQ Bookshop. (https://bookshop.usq.edu.au/contact/)

  • Horngren, CT, Harrison, WT Jr, Best, PJ, Fraser, DJ & Willett, R 2010, Financial accounting, 6th edn, Pearson Education, Frenchs Forest, New South Wales.
  • Vallely, M 2010, MYOB a hands on approach: AccountRight Enterprise v. 19 + MYOB CD, 5th edn, Pearson Education, Frenchs Forest, New South Wales.
    (MYOB AccountRight Enterprise v. 19 - STUDENT VERSION Software (this is included in the Vallely textbook PLEASE DO NOT ATTEMPT TO USE ANOTHER VERSION OF MYOB.)

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
  • Bazley, M & Hancock, P 2010, Contemporary accounting, 7th edn, Cengage Learning, South Melbourne, Victoria.
  • Birt, J, Chalmers, K, Brooks, A, Byrne, S & Oliver, J 2011, Accounting: business reporting for decision making, 3rd edn, John Wiley & Sons, Milton, Queensland.
  • Hoggett, JR, Edwards, L & Medlin, JF 2011, Accounting, 8th edn, John Wiley & Sons, Milton, Queensland.
  • Marshall, DH, McManus, WW & Viele, DF 2011, Accounting: what the numbers mean, 9th edn, McGraw Hill/Irwin, Boston, Massachusetts.
  • Porter, GA & Norton, CL 2011, Financial accounting: the impact on decision makers, 7th edn, South Western Cengage Learning, Mason, Ohio.
  • Summers, J & Smith, B 2010, Communication skills handbook, 3rd edn, John Wiley & Sons, Milton, Queensland.
  • Weygandt, J, Chalmers, K, Mitrione, L, Fyfe, M, Kieso, D & Kimmel, P 2010, Principles of financial accounting, 2nd edn, John Wiley & Sons, Milton, Queensland.

Student workload requirements

Activity Hours
Directed Study 20.00
Private Study 20.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
PROJECT 100 100 TBA

Important assessment information

  1. Attendance requirements:
    Not applicable.

  2. Requirements for students to complete each assessment item satisfactorily:
    Not applicable.

  3. Penalties for late submission of required work:
    Not applicable.

  4. Requirements for student to be awarded a passing grade in the course:
    Not applicable.

  5. Method used to combine assessment results to attain final grade:
    Not applicable.

  6. Examination information:
    Not applicable.

  7. Examination period when Deferred/Supplementary examinations will be held:
    Not applicable.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at http://policy.usq.edu.au.