ACCT103-13S2 (C) Semester Two 2013

Introduction to Financial Accounting

15 points

Details:
Start Date: Monday, 8 July 2013
End Date: Sunday, 10 November 2013
Withdrawal Dates
Last Day to withdraw from this course:
  • Without financial penalty (full fee refund): Sunday, 21 July 2013
  • Without academic penalty (including no fee refund): Sunday, 6 October 2013

Description

Accounting processes, preparation and analysis of financial reports, the reporting framework. The course aims to introduce students intending to major in accounting to the essential techniques of financial accounting.

ACCT103 aims to introduce students, who intend to major in accounting, to the essential techniques of financial accounting.  Building on ACCT102’s reader’s perspective, ACCT103 presents a preparer’s perspective on financial reporting.  Students will learn how to account for a variety of transactions, how to prepare financial reports in accordance with General Accepted Accounting Practices, and how to analyse and interpret financial reports.  Topics covered in ACCT103 include: Double-entry book-keeping; Accrual accounting; NZ Regulatory Framework; Accounts receivable; Inventory; Non-current assets; Liabilities; Preparation of financial reports; Analysis and interpretation of financial reports;  and Introduction to taxation.

Learning Outcomes

Upon successfully completing ACCT103, students will be able to:
1.  Describe and apply the double entry bookkeeping system.
2.  Prepare fully classified financial statements.
3.  Prepare financial records for revenue, expenses, Goods and Services Tax (GST), assets, liabilities and, to a lesser extent, equity.
4.  Explain and apply valuation concepts for assets and liabilities.
5.  Explain and apply job costing and process costing.
6.  Explain and apply accounting principles and NZ's financial reporting framework.
7.  Explain taxation theory including the concepts of income, capital and residency for taxation purposes.

Prerequisites

ACCT102 or ACIS102 or AFIS102 or AFIS188

Restrictions

ACIS103, AFIS101, AFIS103, AFIS111, AFIS121, AFIS131

Timetable Note

Tutorials are held each week beginning in the second week (except in the weeks of the term tests).

Course Coordinator / Lecturer

Neil Crombie

Lecturers

Chris van Staden , Keith Dixon and Alistair Hodson

Assessment

Assessment Due Date Percentage 
Tutorial Preparation & Participation 10%
Term Test 1 15%
Term Test 2 30%
Final Examination 45%


There is a general departmental requirement that students are required to average not less than 45% in the invigilated assessments in order to pass the course as a whole. ‘Invigilated’ means ‘formally supervised under exam conditions’. In ACCT 103, Term Test 1, Term Test 2 and the Final Examination are invigilated assessments.

Textbooks / Resources

Required Texts

Mitrione, Lorena; Principles of financial accounting ; 3rd ed; John Wiley and Sons Australia, 2013.

Course links

Library portal
Course Outline 2013 outline
Learn

Notes

For general information on University and Departmental policy on assessment, academic honesty and other course related matters please check the ACIS website, Learn, or the University Calendar.

Indicative Fees

Domestic fee $682.00

International fee $3,000.00

* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.

For further information see Department of Accounting and Information Systems .

All ACCT103 Occurrences

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