Course Title: Prepare financial reports for a reporting entity
Part B: Course Detail
Teaching Period: Term1 2008
Course Code: ACCT5201C
Course Title: Prepare financial reports for a reporting entity
School: 650T TAFE Business
Campus: City Campus
Program: C5178 - Diploma of Accounting
Course Contact : Jenny Seiler
Course Contact Phone: +61 3 9925 1621
Course Contact Email:jenny.seiler@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Jennifer Wotzko
Phone 9925 5701
Nominal Hours: 60
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 the development and preparation of financial reports for a reporting entity.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSACCT504A Prepare financial reports for a reporting entity |
Element: |
Compile data |
Performance Criteria: |
1. Data is systematically coded, classfied and checked for accuracy and reliability in accordance with organizational policies, procedures and accounting standards 2. Conversion and consolidation procedures are used to compile data in accordance with organizational policies and procedures. 3. Valuations in compliance with relevant accounting standards are recorded. 4. Effects of taxation are identified and recorded |
Element: |
Prepare reports |
Performance Criteria: |
1. Charts, diagrams and supporting data are presented in an appropriate format 2. Structure and format of reports are clear and conform to statutory requirements and organisational procedures 3. Statements and data are error free, comprehensive and and comply |
Learning Outcomes
Please refer to Elements of Competency.
Details of Learning Activities
Each week students will be introduced to the accounting theory and relevant accounting standards and legislation related to each topic. A demonstration of the practical application of the theory and standards will also be given (eg case studies)
Discussion of current issues related to the topics, student completion of practical exercises including company accounts and company reports and investigation and discussion re published reports will also be completed.
Teaching Schedule
Week | Week Commencing | Learning Outcomes | Elements |
1 | 11/2/2008 | Introduction 1 Finalization of P/L and retained earnings |
1.1, 1.3, 1.4 |
2 | 18/2/2008 | 1 Finalization of P/L and retained earnings, 2 Tax Effect Accounting | 1.1, 1.3, 1.4 |
3 | 25/2/2008 | 2 Tax Effect Accounting, 3 GPFR | 1,1, 1.4 |
4 | 3/3/2008 | 3 GPFR 4 Income Statements & Statements of Change in Equity | 1.1, 1.3, 1.4, 2.1, 2.2, 2.3 |
5 | 10/3/2008 | 4 Income Statements & Statements of Change in Equity | 1.1, 1.3, 1.4, 2.1, 2.2, 2.3 |
6 | 17/3/2008 and /or 27/3/2008 | 5 Balance Sheets | 1.1, 1.3, 1.4, 2.1, 2.2, 2.3 |
7 | 31/3/2008 | 5 Balance Sheets | 1.1, 1.3, 1.4, 2.1, 2.2, 2.3 |
8 | 7/4/2008 | Assessment Week Revision and Test 1 | |
9 | 14/4/2008 | 6 Cash Flow Statements | 1.1, 1.3, 1.4, 2.1, 2.2, 2.3 |
10 | 21/4/2008 | 6 Cash Flow Statements 10 Current Reporting Trends | 1.1, 1.3, 1.4, 2.1, 2.2, 2.3 |
11 | 28/4/2008 | 7 Amalgamations and Takeovers | 1.1, 1.3 |
12 | 5/5/2008 | 8 Consolidated Reporting | 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3 |
13 | 12/5/2008 | 8 Consolidated Reporting | 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3 |
14 | 19/5/2008 | 8 Consolidated Reporting 9 Segment Reporting | 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3 |
15 | 26/5/2008 | 9 Segment Reporting | 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3 |
16 | 2/6/2008 | Revision and Test 2 | 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3 |
17 | 9/6/2008 | Review Test 2 and Deferred Test 1/Retest 1 | |
18 | 16/6/2008 | Deferred Test 2/Retest 2 & Course Review |
Learning Resources
Prescribed Texts
A hard copy of a current annual company report. Each student will be allocated a company and will refer to their report across the semester |
References
Company Accounting & Financial Statements (4th Edition) Paul De Lange, Robert Rodgers, Edward A Clarke |
|
Corporate Accounting Wilson & Booker |
|
Australain GAAP Parker and Porter |
|
http://www.aasb.com.au/ Search: AASB Standards |
|
Corporate Accounting and Reporting - A Practical Approach National Institute of Accountants 2007 |
Other Resources
All relevant learning resources will be placed on the online learning hub progressively throughout the semester. Students will need to access this site on a weekly basis, print of materials and bring them to class
Overview of Assessment
Throughout the semester students will be able to gauge their progress with the completion of and discussion about class exercises. This formative feedback will highlight to students areas in which they may need to do more work to achieve competency
Assessments may include: short in class exercises, closed book class tests, question and answer activities, assignments and closed book exams.
Assessment Tasks
Students must complete both tests and the assignment and achieve a mark of greater than 50% in each to achieve and overall pass in this course. If students do not pass each assessment but achieve a mark greater than 50%, they will be given an overall grade of NYC and need repeat the course.
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 of 50% as per the teaching schedule.
ASSIGNMENT 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 a achieve a pass grade
Assessment Matrix
Marks | Learning Outcomes | ||
Presentation of company report and company details (due 3/32008) | 5 | ||
Test 1 | 35 | 1,2,3,4,5 | |
Assignment (due week beginning 5/5/2008) | 25 | 1,2,3,4,5,6,9,10 | |
Test 2 | 35 | 6,7,8,9,10 |
Other Information
Employablity Skills The following employability skills will be intergrated in the course
Learning
Communication
Problem solving
Planning and organization
Self management
Technology
Previous Recommended Study
ACCT5112C Prepare Financial Reports
ACCT5180C Maintain Financial Records
ACCT5195C Prepare Financial Statements
Course Overview: Access Course Overview