1 UNIVERSITI UTARA MALAYSIA UUM COLLEGEOF BUSINESS SCHOOL OF ACCOUNTANCY COURSE CODE : BKAL1013 COURSE SYNOPSIS this course is designed specifically for students from non-accounting disciplines. Students will be exposed to accounting concepts, principles and assumptions. They would be able to assess and apply the information provided by accountants in making decisions.
1 UNIVERSITI UTARA MALAYSIA UUM COLLEGEOF BUSINESS SCHOOL OF ACCOUNTANCY COURSE CODE : BKAL1013 COURSE SYNOPSIS this course is designed specifically for students from non-accounting disciplines. Students will be exposed to accounting concepts, principles and assumptions. They would be able to assess and apply the information provided by accountants in making decisions.
1 UNIVERSITI UTARA MALAYSIA UUM COLLEGEOF BUSINESS SCHOOL OF ACCOUNTANCY COURSE CODE : BKAL1013 COURSE SYNOPSIS this course is designed specifically for students from non-accounting disciplines. Students will be exposed to accounting concepts, principles and assumptions. They would be able to assess and apply the information provided by accountants in making decisions.
This course is designed specifically for students from non-accounting disciplines. It is divided into two sections, i.e. financial accounting and management accounting.
Students will be exposed to accounting concepts, principles and assumptions. They would be able to assess and apply the information provided by accountants in making decisions.
2.0 COURSE OBJECTIVES
Upon completion of the course, students are expected:
2.1 to understand on the basic accounting concepts; the accounting cycle and process; and 2.2 to understand the important and usefulness of accounting information in decision making.
3.0 COURSE LEARNING OUTCOMES
At the end of this course, students should be able to know and understand: 3.1 the basic concepts of accounting; 3.2 the meaning, role and importance of accounting information; 3.3 the process of preparing financial statements; and 3.4 how the accounting information helps the management in making business decisions.
2 4.0 COURSE CONTENT
NO TOPIC REFERENCE HOUR
1.
1.0 ACCOUNTING ENVIRONMENT 1.1 Definition of accounting. 1.2 Purposes of accounting, fields of accounting, accounting professional bodies, ethics and regulations 1.3 Types of business 1.4 Characteristics of qualitative accounting information 1.5 Users of accounting information
Topic 1 Rosli et. al
Topic 2 Norfaiezah et. al
1.5
2.
2.0 ACCOUNTING CONCEPT AND PRACTICE 2.1 Generally accepted accounting principles Accounting assumptions Accounting principles Accounting constraints 2.2 Types of financial statement Statement of Comprehensive Income Statement of Changes in Equity Statement of Financial Position Statement of Cash Flows 2.3 Business transactions and the accounting equation
Topic 1 Rosli et. al
Topic 3 Norfaiezah et. al
3
3.
3.0 THE RECORDING PROCESS 3.1 Characteristic of an account 3.2 The rules of debit and credit 3.3 The steps in recording process 3.4 Preparing of trial balance
Topic 2 Rosli et. al
Topic 4 Norfaiezah et. al
6
4.
4.0 COMPLETING THE ACCOUNTING CYCLE 4.1 Adjusting entries 4.2 Preparing the adjusted trial balance 4.3 Closing entries 4.4 Preparing the financial statement Statement of Comprehensive Income Statement of Owners Equity Statement of Financial Position
Topic 3 Rosli et. al
Topic 5 Norfaiezah et. al
6 3
5.
5.0 ACCOUNTING FOR MERCHANDISING BUSINESSES 5.1 Merchandising businesses environment Transaction for purchases, sales, discounts, returns and transportation costs 5.2 Accounting for inventory Periodic inventory system Perpetual inventory system 5.3 Format of Statement of Comprehensive Income and Statement of Financial Position 5.4 Closing entries
Topic 4 Rosli et. al
Topic 6 Norfaiezah et. al
4.5
6.
6.0 COMPANIES ANNUAL REPORT 6.1 Regulatory and disclosure requirements related to financial reporting 6.2 Major reports Chairmans report, board of directors report and audit report 6.3 Major financial statement Statement of Comprehensive Income, Statement of Financial Position and Statement of Cash Flows 6.4 Accounting policies and notes to the account
Topic 5 Rosli et. al
1.5
7.
7.0 FINANCIAL STATEMENT ANALYSIS 7.1 Users of financial statement 7.2 The importance of financial statement analysis 7.3 Types of analysis: 1. Percentage vertical and horizontal analysis 2. Ratio liquidity, profitability, efficiency and solvency
Topic 6 Rosli et. al
Topic 7 Norfaiezah et. al
3
8.
8.0 MANAGERIAL ACCOUNTING 8.1 Introduction to managerial accounting 8.2 The differences between managerial and financial accounting 8.3 The purpose and importance of managerial accounting information for decision making 8.4 Cost concept 8.5 Preparing cost statement for manufactured goods. 8.6 Preparing Statement of Comprehensive Income for manufacturing firms
Topic 7 Rosli et. al
Topic 8 Norfaiezah et. al
3
9.
9.0 COST VOLUME PROFIT ANALYSIS (CVP) 9.1 The usage of CVP analysis 9.2 The relationships between cost volume and profit 9.3 Break-Even Point concept (BEP) 9.4 Techniques to determine BEP 9.5 Applications of CVP analysis
Topic 8 Rosli et. Al
Topic 9 Norfaiezah et. al
4.5
4
10.
10.0 BUDGETING AS A TOOL FOR PLANNING AND CONTROLLING 10.1 The concept of budgeting 10.2 The usage of budgeting 10.3 Preparing master budget for merchandising firms Operational budget Financial budget
Topic 9 Rosli et. al
Topic 10 Norfaiezah et. al
6
11.
11.0 VARIANCE ANALYSIS AND STANDARD COSTING 11.1 The usage of standard costing 11.2 Setting of standard cost and types of standard 11.3 Calculation of variance: Direct material Direct labour Factory overhead
Topic 10 Rosli et. al
Topic 11 Norfaiezah et. al
3
4.0 REFERENCES
Main references:
1. Rosli, M., Junaidah, H.A., Mudzamir, M. et. Al (2011). Accounting-A Malaysian Perspective 4E Edition (Special Adaptation from Accounting 22e by Warren, Reeves and Duchac, 2006), Cengage, Singapore.
2. Norfaiezah, S., Fathiyyah, A.B., Saliza, A.A., Zaimah, A., Mohd Farid Asraf, M.H. & Ram Al Jafri, S. (2009). Business Accounting: Easy Guide. Kuala Lumpur. Pearson-Prentice Hall.
This course is conducted for fourteen weeks. The teaching and learning activities include lectures, tutorials, project, assignments as well as quizzes given from time to time throughout the semester. Power-point presentations for the lectures are available on the e- learning website. Tutorial questions will be given by your lectures and some are selected from the textbook. Quizzes are in the form of online quiz.
7.0 COURSE ASSESSMENT The students will be evaluated based on: Course Work: Mid Sem 20% Tutorials 10% Project 15% Quizzes 5% --------- 50% Final Semester Examination 50% 100%
8.0 ATTENDANCE Students are required to fulfill at least 80% of class attendance in order to qualify to sit in the final examination as governed by the Universiti Utara Malaysia regulations. Students who fail to meet the above requirements for whatsoever reasons will be barred from taking the final examination.
9.0 ACADEMIC MISCONDUCT Students are reminded that academic misconduct is the most serious academic offence. Examples of academic misconduct are cheating and plagiarism, bringing in notes during examination, taking the examination on behalf of another student and so on. Once the student is convicted of any of the above offences, the examination result will be with-held and annulled and/or other serious penalties may be taken against the student.