Course Title: Prepare Financial Reports
Part B: Course Detail
Teaching Period: Term1 2008
Course Code: ACCT5112C
Course Title: Prepare Financial Reports
School: 650T TAFE Business
Campus: City Campus
Program: C5178 - Diploma of Accounting
Course Contact : Jenny Wotzko
Course Contact Phone: +61 3 9925 5701
Course Contact Email:jennifer.wotzko@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Nominal Hours: 40
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
None
Course Description
This unit covers recording general journal adjustment entries and preparing end-of-period financial reports such as revenue statements and balance sheets for a non-reporting entity.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBADM408A Prepare financial reports |
Element: |
Maintain asset register |
Performance Criteria: |
1.1 A register of property, plant and equipment is prepared from fixed asset transactions in accordance with organisational policy and procedures |
Element: |
Prepare end-of-period financial reports |
Performance Criteria: |
4.1 Revenue statement is prepared in accordance with organisational requirements to reflect operating profit for reporting period |
Element: |
Prepare final general ledger accounts |
Performance Criteria: |
3.1 General journal entries for balance day adjustments are entered in general ledger system in accordance with organisational policy and procedures and accounting requirements |
Element: |
Record general journal entries for balance day adjustments |
Performance Criteria: |
2.1 Depreciation of non-current assets and disposal of fixed assets are recorded in accordance with organisational policy and procedures |
Learning Outcomes
Details of Learning Activities
Each week students will be introduced to the accounting theory and relevant accounting standards related to each topic, along with practical applications of the theory and standards.
Students will then complete graded exercises, both in class and at home, and will participate in group discussion, problem – solving and project completion in a mock work environment.
Teaching Schedule
| Week | Week beginning | Performance Criteria | Assessment |
| 1 | 11/02/08 | Introduction/Revision of general journal entries & subsidiary ledgers 1.1 – 1.3 Maintain asset register |
|
| 2 | 18/02/08 |
2.1 – 2.2 Record general journal entries for balance day adjustments
|
|
| 3 | 25/02/08 | 2.3 – 2.4 Record general journal entries for balance day adjustments |
Quiz 1
|
| 4 | 03/03/08 | 3.2 – 3.3 Prepare final general ledger accounts |
|
| 5 | 10/03/08 |
4.3 Prepare end-of-period financial reports (subsidiary ledger reconciliations & correction of errors) + 4.1 - 4.2 Prepare end-of-period financial reports (Income Statement & Balance Sheet, including design of chart of accounts) |
Quiz 2 PC 2.2 – 3.1 |
| 6 | 17/03/08 | 4.1 - 4.2 Prepare end-of-period financial reports (Income Statement & Balance Sheet, including design of chart of accounts) |
|
| Mid Semester Break (Student Vacation) 20th to 26th March | |||
| 7 | 31/03/08 | Case Study |
Quiz 3 PC 3.2 – 4.3 |
Learning Resources
Prescribed Texts
TAFE Accounting: Basic Reports (8th edition) |
References
Supplementary notes and exercises placed on the learning hub (DLS) progressively each week. |
Other Resources
Overview of Assessment
Throughout this course interactive class exercises performed as a group, followed by discussion of the solutions and question & answer sessions will provide formative feedback to the students regarding their progress in achieving competency.
Assessment tasks may include individual in-class exercises, closed book class tests, assignments, question & answer activities and closed book exams.
Assessment Tasks
Assessment Tasks Marks Allocated Performance Criteria tested
o Quiz 1 20 1.1 – 2.1
o Quiz 2 20 2.2 – 3.1
o Quiz 3 20 3.2 – 4.3
o Case Study 40 1.1 – 4.3
Note: the case study will be used to assess competency in both ACCT5112C & COSC5239C and will not be due for submission until late in the semester.
Assessment Matrix
|
Quiz 1 |
Quiz 2 |
Quiz 3 |
Case Study |
|
| 1. Maintain asset register | X | X | ||
2. Record general journal entries for balance day adjustments |
X | X | X | |
| 3. Prepare final general ledger accounts | X | X | X | |
| 4. Prepare end-of-period financial reports | X | X |
Other Information
Employability skills statement
Embedded within the unit of competency is the following skills:
Communication, teamwork, problem-solving, initiative/enterprise, planning/organising, self-management, learning, and technology.
Tests
If a student receives a mark of less than 50% for a test they have completed, they will be given the opportunity to resit
the test for a maximum mark of 50% as per the teaching schedule.
Assignments/Case Study
All assignments must be submitted using the faculty cover sheet for assignments. These are available from the foyer on
level 13.
If a student receives a mark of less than 50% for an assignment they have completed, they will be given the opportunity
to resubmit the assignment to achieve a pass grade.
Missed Assessment
If a student misses an assessment or due date for ANY REASON, they must complete a special consideration
application as detailed below. Please note that applications must be submitted through the Hub on RMIT Melbourne
campuses within 2 working days of the assessment deadline or scheduled assessment
IT IS EXPECTED THAT STUDENTS WILL SHOW THEIR TEACHER THE WRITTEN RECEIPT GRANTING A
DEFERRED ASSESSMENT AS SOON AS IT IS RECEIVED so it can be recorded
Special Consideration (the full policy can be found at http://www.rmit.edu.au/browse;ID=g43abm17hc9w.
This site includes a link to the application form)
Course Overview: Access Course Overview