PDC5113 Producing and Analysing Financial Information with MYOB
|Full Year, 2012 External Toowoomba|
|Faculty or Section :||Faculty of Business and Law|
|School or Department :||School of Accounting, Economics and Finance|
|Version produced :||30 December 2013|
Examiner: Mark Vallely
Pre-requisite: PDC5112 for FBSC Group Students Only
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>.
This course builds on the knowledge you gained from the study of PDC5112. In that course you focused on the recognition, measurement and reporting issues for retail operators and you completed the expenditure and revenue cycles in MYOB AccountRight Enterprise v19. In this course you will complete the accounting processes in MYOB (end-of-month process and the payroll cycle) through to the generation of financial reports. You will also extend your examination of recognition, measurement and reporting issues, this time focused on long-term assets before turning your attention to the preparation financial statements (including the cash flow statement) and the analysis of the financial information by decision-makers in the business world.
In this course you will complete your study of the accounting process by closely examining the end-of-month process, which includes bank reconciliations, the use of accounting worksheets (in Excel) to determine the required adjusting entries, the role of reversing entries and the preparation of financial statements. You will complete your study of the industry-leading software MYOB AccountRight Enterprise v19 by investigating the payroll cycle (e.g. creating employee and processing a pay-run). In the second part of this course you will explore issues in relation to long-term assets, including the recognition of tangible and intangible assets (e.g. can we recognise a brand name that we have developed over time), their measurement and reporting (e.g. the cost of built assets and the various methods of depreciation) and their disposal. In the final section of this course you will focus on the analysis and interpretation of financial information. To do this you will study the preparation of the Cash Flow Statement and the calculation and interpretation of financial indicators of financial performance, liquidity and long-term solvency (e.g. horizontal and vertical analysis and ratio analysis).
On successful completion of this course, students should be able to:
- describe, discuss and complete the end-of-month process (e.g. prepare a manual bank reconciliation, complete an accounting worksheet in Excel and determine adjusting and reversing entries)
- use the accounting software MYOB AccountRight Enterprise v. 19 (a) to complete the end-of-month process, (b) to process payroll (e.g. set-up the system preferences, create employee cards and process a pay run) and (c) to produce various financial reports, including financial statements
- in relation to long-term assets (a) describe and discuss the relevant assumptions, principles and regulations related to their recognition, measurement and reporting and (b) perform calculations, record transaction entries and prepare reports for a sample set of financial data using formats and methods in conformity with regulatory or professional requirements
- describe, discuss and prepare a Cash Flow Statement
- demonstrate professional literacy and problem solving through the analysis of basic financial reports using both index and ratio techniques in relation to conventional report data and interpret the results of that analysis.
|1.||End of month processes and MYOB||20.00|
|2.||Payroll accounting and MYOB (payroll cycle)||20.00|
|3.||Recognition and measurement of long-term assets||20.00|
|4.||The cash flow statement||20.00|
|5.||Analysis and interpretation of financial information||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=PDC5113)
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.)
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.
Deegan, C 2010, Australian financial accounting, 6th edn, McGraw Hill, North Ryde, New South Wales.
Henderson, S, Peirson, G & Herbohn, K 2010, Issues in financial accounting, 14th edn, Pearson Education, Frenchs Forest, New South Wales.
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.
Picker, R, Leo, K, Alfredson, K, Radford, J, Pacter, P & Wise, V 2010, Australian accounting standards, 2nd edn, John Wiley & Sons, Milton, Queensland.
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
|Description||Marks out of||Wtg (%)||Due Date||Notes|
Important assessment information
Requirements for students to complete each assessment item satisfactorily:
Penalties for late submission of required work:
Requirements for student to be awarded a passing grade in the course:
Method used to combine assessment results to attain final grade:
Examination period when Deferred/Supplementary examinations will be held:
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.